Here’s another Video from REALTOR TV (YOU pay for this in your N.A.R. dues) (I suggest Nitrous Oxide or Sodium Pentothal if you’re going to try to watch the whole video), in which Larry Yun makes a tortured, unintelligible case for the new upswing in real estate sales, HOWEVER, as I pointed out in my recent post…N.A.R. is no longer keeping track of Deals Fell Thru (DFTs) which are Purchase Contracts that get cancelled due to Buyers Not Qualifying or the Appraisal found that the Price was too Optimistic.
Since N.A.R. … (5 comments)
short sales: YEAH, THE REAL ESTATE SLUMP IS OVER...IF YOU BELIEVE...DO "YOU" BELIEVE?
- 04/30/12 01:05 AM
Since 35% of the new real estate contracts written in the First Quarter of 2012 were cancelled......N.A.R announces that it will NO LONGER track "deals fell through" only NEW CONTRACTS. I guess the truth is just too depressing.... ...now that the real estate market has fallen so low…soon to fall lower and deliver MORE Short Sales, a TSUNAMI of them (Foreclosure is now mostly Passé). Real Estate is Local, so I’m talking about Orange County CA. Investors should be buying Single Family Residences and Apartment Buildings to supply nice homes for those who are displaced by Short Sales and who will … (1 comments)
short sales: HAPPY TALK, KEEP TALKIN' HAPPY TALK.....
- 04/26/12 11:55 PM
YOU CAN TALK ALL THE HAPPY TALK YOU HAVE THE WIND FOR... and when you're Blue in the Face...YOU have to sit down and face reality. The real estate recession "AIN'T" OVER .................YET. I quote from Mike Larson of Wiess Research Investments from this AM. ................................................................................................................................. I told you last week about the almost-6 percent drop in housing starts — to the lowest level since October — we had in March. Well, now we’ve learned that existing home sales also whiffed! Those “used” home sales fell 2.6 percent to a seasonally adjusted annual rate of 4.48 million in March. That was a worse than … (2 comments)
short sales: THE BIGGER THEY ARE.......THE HARDER THEY...YOU KNOW...FAAALLLLLLLL!
- 04/21/12 04:22 PM
Johnny Be Good...NOT! YOU THINK "YOU'VE" GOT OVERPRICED HOME PROBLEMS...MR. SELLER... Wednesday, April 18, 2012 — It has sixteen bathrooms, lots and lots of bedrooms, a seventeen-car garage, marbled floors, gold leaf ceilings, a vineyard, horse stables, tennis courts and a private lake. The property is on the largest parcel of residential real estate on southern California’s Golden Newport Coast. John McMonigle (Google him)
(Photo from the OC Register) McMonigle's vacant house (he can't afford the utilities, now) will be auctioned in a week or two. It was once valued at $87 million, but who knows what it is worth now? Pennies … (0 comments)
This property has 4 Bedrooms, 2 Baths, an Oversized Double Garage with an Added Work Shop and an Automotive Pit - just like Jiffy Lube. If you're serious about your automotive repairs...this is your home.
… (3 comments)
short sales: FANNIE & FREDDY MUST ACCEPT OR DENY AN OFFER WITHIN 60 DAYS...HOW ABOUT 20 DAYS?
- 04/20/12 05:18 PM
A new federal rule now says that Fannie and Freddie must accept or deny a short sale of a property whose loan they hold within 30 to 60 days (READ 60 DAYS). HOW ABOUT WITHIN 20 DAYS? They're not doing anything, anyway. ACCEPT THE OFFER CONTINGENT UPON AN APPRAISAL BY AN APPROVED APPRAISER...DONE, OVER, FINE'...
Beginning June 15, real estate agents working with distressed homeowners whose loans are backed by Fannie Mae and Freddie Mac should expect to receive a decision on a short sale offer within 30-60 days.
The GSEs issued new guidelines Tuesday that fall under the Servicing Alignment Initiative rolled out last … (2 comments)
short sales: Follow-Up to My Blog About REFIS COLLAPSE from April 2nd, 2012
- 04/04/12 10:00 PM
I received some pretty edgy comments about my blog of April 2nd, 2012. Some folks don't take to kindly to my view of the truth...I'M NOT WRITING GOSPEL...JUST AN OPINION. FIRST RULE OF REAL ESTATE: ALL REAL ESTATE IS LOCAL; SECOND RULE OF REAL ESTATE: LOCATION, LOCATION, LOCATION. I was opining on the trends I see in the US Real Estate Market, NOT in the Tract YOU may work, OK? Diana Olick is a "Following Indicator"...she was talking Happy Talk in 2008...now she's reporting what has Just Happened...the title of her report is...wait for it...wait...for...it..."REFIS COLLAPSE"...not so happy... I not … (0 comments)
short sales: NOW THAT BUYERS AND RE-FINANCE HOMEOWNERS MUST QUALIFY...THE REFINANCE MARKET IS HEADING INTO THE TANK
- 03/31/12 08:38 PM
Sorry to rain on your weekends (it’s raining as I write this email), however, the news about ALL of the homeowners who were going to be saved by the latest, “Underwater Refi Scheme”, is not working out as planned. The largest drop off is in the FHA and HUD sponsored programs…the ones who were coming to SAVE the unfortunate homeowners.
APPRAISALS are the largest sticking point. Appraisers think the market is still heading downward and are throwing the proverbial; “Monkey Wrench” in the Fed’s saving the homeowner works.
I apologize but I think we are looking at another … (13 comments)
Click Photo for Video SIX MILLION HOMEOWNERS ARE IN SOME FORM OF DEFAULT ON THEIR MORTGAGES. American home prices have already fallen farther and faster than the Great Depression price crash for homes in the 1930s. The farther down the property values descend during this economic slowdown (the Great Recession of 2006-2020?) the more properties which will fall below the "underwater line". This means that the loans on the property are larger than what can be paid by selling the property at current … (1 comments)
short sales: 100,000 POINT BLOG...MINE! Tom Waite Real Estate Broker- Orange & L A County CALIFORNIA
- 10/20/11 05:35 AM
Hi! I'm Tom Waite, Real Estate Broker, selling Apartment Building Investments and Homes in Orange and Los Angeles Counties in California and I blog on Active Rain. My Active Rain Blog today is taking me over 100K...sorta' rhymes, doesn't it? When I first started blogging about 2 years ago it never occurred to me that I would eventually, if I didn't give up or stop blogging, reach the 100,000 point mile stone. AND, I see that I'm in a fairly small group in the American Rain. I want to thank those who read and enjoyed or disagreed with my writings over … (5 comments)
short sales: THE ABSOLUTE PERFECT SOLUTION TO A HOUSING RECOVERY IN ONE WORD!
- 10/12/11 04:04 AM
You may be thinking right now, with all the Smart People out there working, thinking and talking about how to create a real estate recovery in the current market...where the Heck does Tom come off with his boast above...solving the housing crisis with ONE SINGLE WORD? Well, first look at this piece of video with "snipetts" of Sound Bites from several Congressmen and the NAR President Ron Phipps...maybe close your eyes and listen to it several times. What's missing from ALL of their solutions? The first Lawmaker who spoke gave us the REAL time-line for a recovery which will start on the … (2 comments)
short sales: Deja' Vu, All Over Again...Fanny Mae and Freddy Mac to Rent Out Foreclosed Houses
- 08/11/11 03:59 AM
EVERYONE RECOGNIZES THAT THERE WILL BE A NEED FOR MILLIONS OF RENTAL UNITS OVER THE NEXT FEW YEARS DUE TO THE NUMBERS OF FORMER HOMEOWNERS WHO ARE DISPLACED FOLLOWING FORECLOSURE. If we needed more proof that the Obama Administration is using the FDR playbook, a worn out old group of Socialist ideas. This one is right on target! The folks in our current government despise anyone who EARNS a living in the Private Sector (like REALTORS®) and who is NOT a Government "aparachnick" (employed stooge). Now...just when we were seeing the Private Sector begining to pull the Housing Permits required to build the necessary … (1 comments)
short sales: HELP FOR LARRY YUN - IF HE WANTS IT!
- 07/21/11 03:53 AM
NO MAN IS SO BLIND AS HE WHO REFUSES TO SEE!...goes the old adage. It's attributed to nearly everyone, including Jesus. It looks like its going to be a while, maybe 2014 or 2015 before this down cycle in real estate hits bottom. The REAL reason for this is LACK OF JOBS. One can offer anything in the world but if buyer's can't qualify due to lack of downpayment or lack of a job...well... Here's some interesting help for Larry who needs to read the Tea Leaves for the N.A.R. Has Housing Bottomed? Here's How to Tell a story by Charles Hugh … (5 comments)
short sales: SIX REASONS THE REAL ESTATE RECOVERY WON'T....RECOVER, THAT IS...SOON!
- 06/08/11 04:12 AM
A middle-school teacher always told his class (I was in it) AN OUNCE OF PREPARATION IS WORTH A POUND OF CURE.....get prepared for the next leg of the American Real Estate Adjustment... I have written, many times, and dealt with ALL of the items on Morningstar's Bearemy Glaser's list, however, he has hit ALL SIX CYLINDERS of the current real estate economic situation (story below). The last item on his list is the one I consider the most important and most devastating. When interest rates increase... AS THEY MUST...SOON... the real estate market MUST adjust downward because... RICH FOLKS ARE NOT … (5 comments)
short sales: IT "IS" POSSIBLE THAT YUN MISSED THE REAL ESTATE CRASH OF 2011, RIGHT?
- 06/02/11 08:26 AM
THE REAL ESTATE MARKET IS OFFICIALLY IN DOUBLE DIP STATUS! I guess saying I told you so would be out of the question, right? I TOLD YOU SO! But how could our Highly Paid N.A.R. Economic Analyst Larry Yun...miss it? See my blogs from 5/29/11 http://actvra.in/bzH and Yun Speak from 5/28/11 http://actvra.in/bwX
I TOLD YOU SO! I TOLD YOU SO! I TOLD YOU SO! I TOLD YOU SO! I TOLD YOU SO! I TOLD YOU SO!
I TOLD YOU SO! I TOLD YOU SO! I TOLD YOU SO! I TOLD YOU SO! I TOLD YOU SO! I … (3 comments)
short sales: May Goes Out Like a PUSSY CAT - YUN Goes Out Like a LOON - REAL ESTATE WISE
- 05/29/11 03:24 AM
WHY DIDN'T LARRY YUN POINT OUT THAT P.M.I STOCK IS TANKING? You saw his VIDEO, yesterday, on my blog...did he say ANYTHING about P.M.I? What, you never heard about this? Well, I'm going to inform you in just a minute. THE FACT THAT P.M.I. is going bankrupt is a much bigger story than Yun's blame game video. P.M.I. are the initials for Private Mortgage Insurance. The reason they're stock has been, as Tom Petty once said, 'Free Fallin' is that...(PAY ATTENTION LARRY, SO I DON'T NEED TO REPEAT MYSELF)... NOT ENOUGH HOMES ARE SELLING AND PAYING PREMIUMS INTO THEIR INSURANCE PROGRAM...AND...THEY … (1 comments)
I just wanted you to know what the dictionary says about LARRY SPEAK. NAR actually PAYS this guy to give these talks and make these videos. Maybe we should reconsider supporting and sending money to ANY entity which is located in Chicago IL?
LARRY...If a 90 gallon barrel of GAS was only $110...gas would cost about a Dollar A Gallon...Larry maybe you mean BARREL OF OIL? Please leave comments and let me know if YOU have any better understanding of what's gone wrong with the REAL ESTATE market in America after listening to LARRY SPEAK, today. I … (4 comments)
short sales: BEN BERNANKE'S BIG ADVENTURE - SKYROCKETING ENERGY! BUY SOUTHERN CA APARTMENT BUILDING INVENTMENT PROPERITES
- 04/13/11 04:08 AM
BEN BERNANKE'S BIG ADVENTURE! The chart below shows that since QE1 thru QE2 the VALUE of the dollar has dropped...a lot and the cost of Oil has gone up...a lot! That's why I advise YOU to buy Southern California Apartment Building Investment Properties before the prices skyrocket as vacancies fall. Rent costs in CA are predicted to double over the next five years! May I recommend that you read: The Forgotten Man: A New History of the Great Depression by Amity Shlaes To See what's coming next. QE2 was designed to Inflate our currency (reduce the value of each dollar buy adding more … (3 comments)
short sales: CORRUPTION IN FREDDY - FANNY PAY! WHO WOULD HAVE SEEN THAT ONE COMING?
- 04/06/11 03:33 AM
WELL, THE FOLKS WHO SHOULD HAVE SEEN THE CORRUPTION IN FANNY MAE - FREDDY MAC PAY WERE... ASLEEP AT THE SWITCH? Maybe they were bought off or ORDERED to look the other way? The watchdog for these folks just woke up and was, "shocked and amazed" that this type of thing was going on in the NEW financial regulatory state of affairs, etc. Here's a quote from Michelle Malkin's story about same in her current Townhall blog: According to government watchdogs at the Federal Housing Finance Agency, the chief executives of Fannie and Freddie raked in a combined $17 million in … (2 comments)
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.
WHERE DO THEY FIND FELLOWS LIKE WRONG WAY LARRY?!!
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