Archive for November, 2008

Real Estate Market 2001 – 2008 – We Goofed

“I and others were mistaken early on in saying that the subprime crisis would be contained,” Bernanke said in an article in the Dec. 1 issue of The New Yorker magazine. My Way News
The rapid decline in the subprime market and financing caught Ben Bernanke off guard? Greenspan says oops, I missed it too?
I [...]

24Nov2008 | Tom Royce | 8 comments | Continued

The Real Estate Agent Morphs From Salesperson to Consultant

Real Estate agents, are you sales people or consultants?
That is the question that is bouncing around these days. Now, it is important to remember that if you do not sell any properties, you are definitely a hobbyist, not a salesperson or a consultant.
But the difference today is very important on how people like [...]

23Nov2008 | Tom Royce | 5 comments | Continued

Cool Real Estate Boom and Bust Charts

I found this chart at the Wall Street Journal comparing how the different indexes recorded the real estate boom and bust cycle since 2000.
It is interesting how the different indexes diverges. Case Shiller measures cities which were hit harder by speculation and fraud while the Federal Housing index is more nationwide.

Tags: Case+Shiller, Radar+Logic, [...]

22Nov2008 | Tom Royce | 2 comments | Continued

Citicorp Proactively Attempting to Fix Mortgage Woes

In a recent Kenneth Harney column he talks about Citigroup putting together a 20 billion dollar fund that will pre-emptively address mortgages that may get into difficulty based upon credit profiles.
AMEN BROTHERS.

The same day the new federally assisted mass-modifications effort was announced, one of the largest lenders and servicers, Citicorp, unveiled a program designed [...]

22Nov2008 | Tom Royce | 2 comments | Continued

Cutting Off Ones Head To Spite The Landlord – Seriously It Happenned in England

(This post is not for the squeamish)
One thinks we have real estate concerns in this country, but the reaction in this case across the pond is a bit extreme.
An English man who did not want to be evicted from his apartment decided the best course of action would be to make a big bold [...]

21Nov2008 | Tom Royce | 1 comment | Continued

Freddie, Fannie Give Christmas Present – No Foreclosures Till New Year

Well, 16,000 families across the country are breathing a big sign of relief as Fannie Mae and Freddie Mac are postponing foreclosures until the end of the year.
This is a heck of a Christmas present for the families. What might be the biggest present is these families may qualify for a rework of the [...]

20Nov2008 | Tom Royce | 4 comments | Continued

How Does Real Estate Seem Like A Good Investment in 2008? Part 2

We saw in the first post that the Dow Industrial average is down 44 percent in the past 52 weeks. That is trouble enough.
But imagine being long in Oil?

Oil dips below $50 a barrel on New York exchange for the first time since reaching record high of $147 in July. via CNN

You would be [...]

20Nov2008 | Tom Royce | 1 comment | Continued

How Does Real Estate Seem Like A Good Investment in 2008?

Compare it to the Dow Industrials:
It closed today at: 7,997.28

52Wk High: 13,990.65
52Wk Low: 7,882.51

Few areas are down 44 percent for the year in real estate.

19Nov2008 | Tom Royce | 5 comments | Continued

Some Great Advice For Real Estate Agents and Blogging

This came from Chris Bloggett’s blog on how to focus on the real needs of your real estate blog. Focus on what the customer wants.
My core blogging advice is; always talk about the customer. What does the customer want to read about? These folks at the Real Estate office were talking about highbrow stuff like [...]

19Nov2008 | Tom Royce | 10 comments | Continued

Home Lien Over 1 Penny Due On Utility Bill? Your Government in Action

It is bad enough that the city of Attleboro, Massachusetts has threatened to put a lien on a home over a one cent shortage. What makes it even worse is to whom they did this to.
A 74 Year Old Blind Woman.
Yep, because she was one penny short on a bill to the utility, the [...]

19Nov2008 | Tom Royce | 2 comments | Continued