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HOME SALES DROP IN JANUARY TOO! N.A.R. REPORT - BUY APARTMENT BUILDINGS! - 02/28/11 02:06 PM
I just saw a report that N.A.R. found that home saled dropped by nearly 3%, again, in January.
When buyers are scarce, the Inventory of homes builds up on the market. The Smart Folks are still predicting a Tsunami of FORECLOSURES coming in March and into the Second Quarter of 2011.
The less homes that are purchased, the more the Value of Homes Sinks...the lower the Market Value of Homes...the more homes fall below the Underwater Homes Point.
THE MORE HOMES THAT FALL BELOW THE UNDERWATER LINE...THE MORE FORECLOSURES and SHORT SALES. This isn't Rocket Science...just common sense.
Out of ALL … (0 comments)
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Why Apartment Building Investments? - 02/25/11 09:23 PM
Why Apartment Building Investments?
Great question isn't it? Who would want to invest in apartment buildings? Well, the Fed has decided to make a LOT of additional money available to build Multi-Unit Apartment Buildings, Construction is up ONLY in the construction of Apartment Properties. Why?
There is a growing number of people who have lost their homes and have been, or will be, so deeply traumatized by that event that they will never, in their lifetimes, buy another home to avoid repeating that type of loss.
Think of it...a PERMANENT renter class. It looks like 15% to 20% of the housing … (2 comments)
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Southern California Investment Properties Apartment Buildings are a Great Buy! - 02/24/11 02:32 PM
Southern California Apartment Buildings Investment Properties are a Great Buy right now!
As always, one needs to carefully examine the income potential and condition of the property and the income stream...Neighborhood, job conditions, etc.
I have found a great many Short Sale properties that can actually be purchased at a price that will make them perform and Cash Flow.
I sell apartment building investments in Orange and L A Counties, so, let me know what you want and I'll find it for you.
More info at: http://tomwaiterealestateblog.wordpress.com/
… (0 comments)
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CASE SHILLER REPORT IS IN...IT AIN'T GOOD - Follow-Up - 02/23/11 06:54 PM
BURYING THE LEAD! Definition: Meaning sometimes journalists get bogged down in details before they actually hit you with the new angle or the most important aspect of a story.
What does this have to do with the Case Shiller Report for December 2010? I knew you'd ask that and I'm prepared for you...
TAX SUBSIDIES DO NOT WORK AS PLANNED! MANY TIMES THEY MAKE THINGS WORSE!
There is a story in the L A Times Business Section today...the Title is: "HOME PRICES GETTING CLOSE TO DOUBLE DIP". It's on the front page for a long column and a half... AND continued … (1 comments)
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CASE SHILLER REPORT - DECEMBER 2010 - IS IN...IT AIN'T GOOD - 02/22/11 01:16 PM
Today the Case Shiller Housing Report for December was released...(just Google it) and it shows that ALL areas of the USA are still in double dip housing free-fall...except Washington and San Diego (both of which had SEVERE downturns and are just recovering a tiny bit of that slump).
The TSUNAMI of Foreclosed homes awaits the re-start of the foreclosure cycle will increase the downward pressure on prices as we enter March and the Second Quarter of 2011.
Sorry, no recovery on the horizon and when one does come it will be "L" shaped and take place over a decade or more. … (2 comments)
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YOUR INTERNET REPUTATION IS IMPORTANT TO PROTECT! - 02/18/11 12:37 PM
Your Internet "personality" and "reputation" are important to protect...as well as those of your loved ones.
It's easy to find out what is being said about you on Google by simply entering a search in Google with your name surrounded by quotation marks, "Benny Hill", like this. You should do this ASAP for you and everyone important to you...as well as your phone numbers. However, that takes some time and each time you make the search you have to duplicate all that work and time...that's where Google Alerts come in...once you do your search (and I urge you to do the … (0 comments)
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CORELOGIC - NAR INFLATED THE SALE NUMBERS BY 15% TO 20% - NAR...NO, NO, NO! - 02/17/11 01:23 PM
Have you ever witnessed your toddlers in a verbal fight over some point? I did not! You did TO! Did not...did too, Did not...did too, Did not...did too, Did not...did too, Did not...did too!
Well, that's what's going on between CoreLogic and N.A.R. right now. CoreLogic is reporting that N.A.R. has been "padding" the number of sales bit by bit since the year 2000 right after the last Census.
As you all know...Compounding has a real effect on numbers. If you compound an error of just 2% per year it amounts to nearly 25% by the end of 10 years.
Now, … (1 comments)
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JURASSIC PARK & BERNANKE-The Electric Fences Will Control The Monster- INFLATION! - 02/16/11 12:02 PM
JUST LIKE IN JURASSIC PARK...BEN BERNANKE"KNOWS" THAT HE CAN CONTROL THE BIG MONSTER , THE TYRANNOSAURUS REX...IN THE FINANCIAL PARK...
INFLATION!!!
Our Bernanke Boys cheat on the CPI numbers...Well, every quarter, the Government removes the most VOLATILE commodities from the CPI so that they never, again, have a Jimmy Carter...12% Inflation Moment...
CHINA DOES THAT TOO...How's that workin' for them? Here's a few paragraphs from Zero Hedge Blog about the Inflation Problem in China...even with their manipulation...they CAN'T CONTROL THE MONSTER.
_________________________________________________________
China Inflation: Getting Worse and Coming To A Wal-Mart Near You - ZERO HEDGE BLOG
Residence costs jumped 6.8% … (0 comments)
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SMALL BUSINESS IS THE JOBS ENGINE THAT WILL END THE RECESSION - NOT!! - 02/10/11 04:06 PM
SMALL BUSINESS IS THE JOBS ENGINE THAT WILL END THE RECESSION...It's almost like a prayer or mantra for the Leaders of America. Gongress, The President, The Pundits all say the Small Business will bail out America...Very Soon...maybe not!
Due to all the REGULATIONS and NEW TAXES and MEDICAL CARE MANDATES and COSTS OF HIRING just ONE employee...small businesses have decided to do with many less employees...
IF WE'RE GOING TO GO BANKRUPT WE'RE GOING TO DO IT WITHOUT TAKING A BUNCH OF FOLKS WE LOVE DOWN WITH US. Every time they hire someone...they know that they may need to fire them … (1 comments)
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Larry Speak - Fun and Frollic of the NAR Chief Economist - 02/09/11 02:19 PM
FANNY AND FREDDIE MAY BE ON THEIR WAY TO THE ASH HEAP OF HISTORY!
There are a number of proposals aimed at getting the USA out of the mortgage business. Now that the barn has burned down it's time to close what's left of the door!
Said proposals will be released by Timothy Geithner on Friday...probably after the Stock Market closes.
Three options:
1) Kill them both over a short number of years...say 5 years.
2) Scale them back to modest insurers by reducing the loan amounts they can make and have them be lenders of last resort. Say $250 Billion … (0 comments)
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120 US Counties have 30% or More Underwater Loan SFRs - 02/09/11 01:46 PM
THAT'S RIGHT, CORE LOGIC DID A STUDY OF THE 380 COUNTIES IN THE USA AND FOUND THAT NEARLY HALF OF THEM HAD AT LEAST 30% OF THE HOMES IN THEIR COUNTIES MORTGAGE LOANS UNDERWATER. The Foreclosure and Short Sale issue is NOT going to go away anytime soon!!!
17 OF THE COUNTIES HAD MORE THAN 50% OF THEIR HOMES IN UNDERWATER CONDITION.
There are a good number (if talking about homes with Underwater Loans can be good) of counties with less than 10% of their homes in underwater status...about 40 of them. Manhattan and Orange New York are in the 1% to 2% … (0 comments)
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THE SHADOW INVENTORY IS GROWING - 3 TO 4 YEARS TO CLEAR - 02/08/11 02:39 PM
WHO KNOWS WHAT EVIL LURKS IN THE HEART OF THE REAL ESTATE INDUSTRY?...
THE SHADOW KNOWS!!
The SHADOW INVENTORYis a reference to those homes which are either owned by banks or investors and not yet on the open market for sale...or...significantly in to the foreclosure process and expected to hit the market within a reasonable time period.
MY STATE IS FAMOUS!!! California has the largest Shadow Inventory of homes in the USA and it will take about 3 to 4 years to clear this excess inventory.
NEW YORK STATE will take longer because they are in the midst of because it … (3 comments)
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B of A & The Buy Backs - Half A Trillion Dollars? - 02/07/11 08:45 PM
The financial blogs and news sites are speculating that B of A might be on the hook for Half a Trillion Dollars due to the repurchase provisions in the Mortgage Pools they sold.
I could be huge...so large in fact that B of A has started cooperating is some repurchase negotiations for about 4 Billion Dollars.
The most interesting this is...that NOBODY LEARNED THEIR LESSON IN 2006 & 2007. With sales and refinancing in 2009 running at nearly an all time high of 2 Trillion Dollars...Freddie Mac recently found the the loan defect rate for 2008 and 2009 could be as high as … (4 comments)
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Tom Waite, So Cal-Apartment Bldg Investments
Cypress,
CA
More about me…
Thomas Waite Real Estate Broker
Address: P O Box 3205, Cypress, CA, 90630
Office Phone: (714) 895-2174
Cell Phone: (714) 895-2174
Email Me
Southern California, Orange County and Los Angeles County, as well as, Riverside County and San Bernardino Countiy. APARTMENT BUILDING INVESTMENT SALES AND PURCHASE ASSISTANCE. SINGLE FAMILY HOMES, DUPLEXES AND TRIPLEXES FOR RESIDENCES.
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