Archive for April, 2008
Why Bear Sterns Meltdown Hit GE’s Earnings
If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!General Electric (GE) has long been a bellweather for the economic state of the US economy. So when they missed on their earnings it sent a shockwave through the financial markets. But the reason they missed was due to [...]
22Apr2008 | Tom Royce | 0 comments | Continued
Why Building Green Makes Sense These Days
Many people look at todays celebration, Lenin’s Birthday Earth Day, as a reason to celebrate mother earth and all that it entails. This is not a post for that.
Instead, lets talk about building green and why it makes much more sense. Until technology catches up to demand, energy costs are going to continue to [...]
Fear Mongering or Prognostication: Pew Research Projects 1 in 33 Homes Will Enter Foreclosure
Man I hope that these folks are not accurate. I would expect market forces to come into play way before the results of the Pew Research report on housing would occur.
One in 33 current U.S. homeowners may be headed toward foreclosure in the coming years because of subprime loans, according to our new report, [...]
21Apr2008 | Tom Royce | 2 comments | Continued
Risky Subprime Mortgage Cartoon
When a picture tells a story, as told by Steve Kelley:
Sometimes listening to friends this is exactly my reaction.
21Apr2008 | Tom Royce | 1 comment | Continued
Top 10 States With Lowest Foreclosure Rate For March, 2008
The states with the lowest foreclosure rate are an interesting group. RealtyTrac tells us they range from upper Northeast states such as Vermont and Maine to vacation destination Hawaii, Midwest outposts North and South Dakota to to Southern states such as Mississippi and Alabama.
What they do share in common was that they were not the [...]
New York City Average Sale Price of Homes Soaring
With slowing sales on the low end the average price of New York City’s real estate is seeing amazing heights. The average price of a Manhattan dwelling is up 41 percent, while New York City as a whole is up 28 percent.
The numbers are skewed with the high end doing so well but ever [...]
Comerica Profits Take Hit On California Property Loans
Comerica’s profits took a 43 percent haircut due to losses in the California real estate market. The company saw a loss on loans they have in the Golden State and are planning on making provisions for further losses.
Earnings last year were $1.19 a share last year for the first quarter but came in at $0.73 [...]
Home Remodeling is Slowing Down in United States
What may be a sign of the economy is slowing down overall, a new report released by the Harvard University Joint Center For Housing Studies has released a report that home remodeling is slowing down.
There has been a great deal of investment in properties over the past decade as people have remodeled and added [...]
Sharpe James, Former Newark Mayor, Convicted in Scam To Sell City Properties To Girlfriend
It is amazing what some of our elected officials think they can get away with. Fortunately, this time the politician got caught. For 36 years Sharpe James was a power broker in Newark, New Jersey politics. He watched the city deteriorate and essentially fall apart. Now we know why, he was using the city as [...]
17Apr2008 | Tom Royce | 3 comments | Continued
Using Local Access Television To Increase Exposure to Your Real Estate Practice
It is great to read stories that show how real estate agents can improve their exposure in local markets and expand their perceived expertise. We are so caught up in blogging and the internet, but there are many other ways to let the public know how knowledgeable you are.
And if they were real smart [...]
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 ...
