albuquerque: Who's to blame for current housing crisis?
- 07/27/09 06:11 AM
In the Albuquerque Journal Outlook Brandon Curtis wrote a good editorial explaining some of the issues that are being discussed about the current housing crisis. I quote: "There has been a lot of blame and a lot of partisan talking points regarding the housing crisis and the state of real estate in general today. One such talking point is that the 1977 Community Reinvestment Act (CRA) somehow forced lenders to make bad loans to consumers with poor credit. This argument has a tad of scapegoating to it. The original act in 1977 required federally insured banks to make loans in the … (0 comments)
albuquerque: Joined LinkedIn
- 07/08/09 05:11 AM
I recently joined LinkedIn and am beginning to get a clue on how to drive traffic to my website. LinkedIn allows me to put a link to my website as well as my blog here in ActiveRain. I have noticed a real up-tic to hits on my website since I have been blogging on ActiveRain. Here is a list of 10 Ways to Use LinkedIn that I found on the web. They were published by Guy Kawasaki: 1. Increase visibility by adding connections. 2. Improve connectability by including past companies, education, affiliations and activities. 3. Improve Google PageRank by making your … (1 comments)
albuquerque: First Time Home Buyer's Credit
- 06/02/09 04:01 AM
There has been a new development in the $8000 credit that first time home buyers can get from the government. In an effort to incentivize home buyers, the Department of Housing and Urban Development has unveiled a policy change which will provide the tax credit up-front. According to the new policy, borrowers who avail mortgages from Federal Housing Administration (FHA) approved lenders can get advances from lenders in order to meet costs associated with home purchase. This will enable borrowers to receive the tax credit in advance, so they don't have to wait to get the money from the IRS. However, … (0 comments)
albuquerque: Treo telephone
- 05/07/09 04:56 AM
Yesterday I finally got rid of my Treo cell phone. The final straw was that I was at a listing trying to put a lock box on the property and once again my phone would not work. I had my MLS key on it, a report for viewing of my listings, a loan calculator, Google map, and many other applications. However, after having replaced four phones because of these type of issues I couldn't stand it any more. The only way the phone could be fixed was either it was totally dead and it had to be replaced or a hard … (6 comments)
albuquerque: Who do you trust?
- 05/05/09 02:05 AM
Are you like me and get hundreds of emails everyday from some internet guru who knows how you can millions in the next year? I have to say I am a sucker for some of these things but I have decided that the only ones making millions are the ones I give my money to. I have tried getting referrals from internet sites which 99% of the time are not worth my time. I have tried getting coaching and most of what I get is so generic and not personal that it is useless. I have ordered all types of resources, … (3 comments)
albuquerque: Tax Credit for first time homebuyers
- 04/29/09 10:08 AM
Last year's tax stimulus package contained a joke of a tax credit for first-time home buyers. Why a joke? Because the 2008 credit was not really a tax credit but a loan that the first-time home buyer had to repay. A real tax credit is one you get to keep. Of course, to qualify and keep the credit, you have to follow the law. Here's a look at the 2009 tax credit for first-time home buyers: It's 10 percent of the purchase price, limited to a crdit maximum of $8,000. It's refundable. There's no recapture if you keep the home as … (0 comments)
albuquerque: My favorite things
- 04/21/09 02:30 AM
I am working really hard on my attitude. When I wake up in the morning I am saying affirmations to myself. Some days are harder than others. This is a tough real estate market and everything takes a lot of focus and belief that it can be done. I have to remind myself often of the many blessing I do have and compared to a lot of the world I have it made. Here is a list of things I am grateful for today. The sun is shining and it is supposed to be a nice almost 80 degree day. Good … (3 comments)
albuquerque: Bankruptcy on the rise in NM
- 04/20/09 03:01 AM
Another bad sign of the times is the rise of bankruptcy's in New Mexico. According to the Albuquerque Journal today, first quarter filings were up 41 percent from a year earlier. The vast majority, 91 percent, were Chapter 7 liquidation. According to the Journal, a common thread among people filing for bankruptcy court protection is a change in employment status that reduces income. One thing noted in the column was described as amateur real estate speculators. Investors in '04, '05, '06 bought investment houses with no money down and when the market slowed and home values began to erode, they couldn't … (0 comments)
albuquerque: Short Sale Broker Price Opinions
- 04/13/09 09:30 AM
In case you are an investor or realtor specializing in short sales here are some useful hints to preparing the BPO (Broker Price Opinion). All Sold Comps should be less than 6 months old, of similar size and in similar condition and located within 1-mile radius of subject. According to the instructions found with the Fannie Mae BPO form all line item adjustments should not exceed 10% of the sold or list price of the comp. Total Net Adjustments should not exceep 15% of the sold or list price of the comp; and the Total Adjusted Sales Price should not exceed … (0 comments)
albuquerque: Listen to Goldman Sachs CEO
- 04/07/09 03:36 AM
I am one of those nerdy types who tries to stay educated with what is happening in our economy. I try to follow the market to keep my business growing. Although there are times I probably should stay away from the news because it doesn't always keep me in the best frame of mind. This morning I turned on Bloomberg news and the CEO of Goldman Sachs was speaking to a group of investors. Following his speech, during the question and answer period he was interrupted by a protestor. Couldn't really hear what her complaint was because security moved her out … (3 comments)
albuquerque: Sun is shinning and stock market is up
- 03/24/09 03:41 AM
Its a great day here in Albuquerque. The sun is shinning and the wind is not blowing. The stock market was up over 500 points yesterday and today's paper said that sales of homes was up more than 5% over last month. It's a great day!
… (1 comments)
albuquerque: Apartment rentals down in Albuquerque
- 03/09/09 03:33 AM
According to this morning's Outlook in the Albuquerque Journal, apartment rentals dropped 4 percentage points in the fourth quarter last year. It dropped from 95% in the third quarter to 91% in the fourth quarter. Apartment occupancy predictable drops every winter but usually in a range of 1% to 1.5%. A 4 percentage drop occurs only when there is distress in the local economy. The drop is probably due to the rise in unemployment from 4.1 in September to 5.3% in December. The last large drop was in the winter of 2002 when the occupancy dropped from 94.3% to 90%. These … (0 comments)
albuquerque: Government help for housing
- 03/06/09 12:51 AM
The government fix for housing is helping a lot of people refinance their homes (4,000,000+) at lower interest rates. This will help homeowners who are solvent lower their payments but not much help to those who are insolvent (unemployed, death, divorce, disease) etc. This could benefit the economy because it puts more disposable income in heir pockets but it doesn't do much for the foreclosure problems. A family that took out a 30-year fixed rate mortgage of $207,000 with an interest rate of 6.50% on a house worth $260,000 at the time. Today, that family has about $200,000 remaining on their mortgage, … (0 comments)
albuquerque: Buffett says at least another year
- 03/02/09 03:46 AM
According to Warren Buffett, this recession will continue through at least 2009. We can only hope that for one the guru is wrong. I am trying to do my part by believing everything will be ok and we will recover this year. My business is doing pretty well, I just have to work harder at it and find some different niches. I am specializing in short sale properties right now. They are harder to work but there are a lot of them out there. Businesses can thrive in this economy, they just need to follow the market and be flexible. … (0 comments)
albuquerque: Start Believing
- 02/27/09 01:13 AM
I really believe this economy is going to turn around this year and things will start looking better for everyone. I also believe that in order for this to happen the American people have to start believing again. Lets start our own little revolution and start focusing on the positive and don't talk about the negative. We get enough of that through the news media. … (0 comments)
In the Albuquerque Journal Outlook Brandon Curtis wrote a good editorial explaining some of the issues that are being discussed about the current housing crisis. I quote: "There has been a lot of blame and a lot of partisan talking points regarding the housing crisis and the state of real estate in general today. One such talking point is that the 1977 Community Reinvestment Act (CRA) somehow forced lenders to make bad loans to consumers with poor credit.;)
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