Archive for November, 2006
Peter Cooper Stuyvesant Town Deal In Jeopardy
If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!The tenant group that is looking to purchase Peter Cooper Village and Stuyvesant Town in Manhattan from MetLife has found a loophole that they are desperately trying to exploit before the sale finalizes. Back in 1942 MetLife entered into [...]
16Nov2006 | Tom Royce | 0 comments | Continued
The Flipper Nation
Now this is funny. and I would bet there are a bunch of guys who are looking in the mirror on this one.
via Flipper Nation
Florida Government Surprised By Lower Real Estate Tax Reciepts
It is amazing how dense politicians can be with your money. The Florida State Governments is surprised that real estate tax reciepts are lower than last year. To put my intellectual hat on, all I can say is well duh…
Florida, your state was infected with flippers and speculators for the past 5 years driving property [...]
Chicago Gang Member Leads Mortgage Fraud Ring
Mortgage fraud used to be a small time white collar crime. However, with lenient sentences and much less risk than other forms of illegal money making schemes, the gangs and organized criminals have moved in. And why not, you can go to jail for 20 years for extortion or dealing drugs, but mortgage fraud will [...]
15Nov2006 | Tom Royce | 2 comments | Continued
Real Estate Slowdown Reaches The Virgin Islands
St. John in the US Virgin Islands is experiencing a slowdown is home sales just as the northeast United States is. We sometimes forget that markets are all inter-related. When housing prices peak in one part, the confidence to invest in a vacation home is also tempered.
This may be a leading indicator for other [...]
Martha Stewart and KB Homes to Build 2nd Atlanta Community
The success of the 1st Martha Stewart community in Atlanta has motivated the diva and KB homes to build a second in the suburban community of Cherokee County in the northwest part of the Atlanta region.
It is interesting the homage that is accorded to Martha Stewart, but I have to ask 1 horrible question. [...]
Builders Hurting, But Bankruptcy Not on Horizon For Most
While the housing slowdown is affecting the larger national builders, according to reports most analysts are not concerned with bankruptcies. Smaller builders such as Kara Homes in New Jersey, which declared bankruptcy last month, have a greater risk of bankruptcy as they may have expanded to quickly.
The national builders use mostly subcontracted labor. This means they [...]
KB Home CEO Canned Over Option Scandal
The option scandals that have hit the tech industry are now heading over the real estate sphere as Bruce Karatz resigned over the illegal options he got from KB Homes.
KB Home, a Los Angeles-based home-construction leviathan once known as Kaufman & Broad, said Mr. Karatz would immediately leave his posts as president, CEO and [...]
12Nov2006 | Tom Royce | 0 comments | Continued
Slowdown Causing Innovations - The Twilight Open House
When a market is roaring, you just throw the home into the marketplace and it should sell, but when we are in a down market, the smart folks come out. The Los Angeles Times has a story on the Twilight Open House that markets to the empty nesters or young professionals. Instead of having the [...]
12Nov2006 | Tom Royce | 1 comment | Continued
We now have the most favorable market for home buyers in several years
“We now have the most favorable market for home buyers in several years,” that is the word from David Lereah, chief economist of the National Association of Realtors. This is probably the most honest thing he has said in a while. Lereah is in the hard position of carrying a trade associations water during a downturn, [...]
11Nov2006 | Tom Royce | 3 comments | Continued
I saw this earlier today and thought the exact same thing, Tom. The politicians have been pushing homeownership for ...
I just found your blog and it's filled with great information. One of my goals this year is to update ...
Thanks for the kind words. I promise you the first year we did not have this level of readership. It ...
The limit on jumbo's is either 417,000 OR it is 115% of the median house price, not to exceed 150% ...
I like your blog and I have read many of your articles. I agree that it is amazing the ...
Yes, there are some deals out there. While there are some deals out there, I'm an agent looking for ...
With mortgage rates poised to drop to 4.5 percent all we need now is some tax incentives to help home ...
I think the overall interest in refinancing was definately high recently. However the problem is that although the rates dropped, ...
I have had great success using craigslist. Renters need to be careful and make sure they check out their landlord ...
This is the start of where the market can begin to level out.
Home owners will start to be able to ...
