Archive for April, 2008

Why Bear Sterns Meltdown Hit GE’s Earnings

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 Bear Sterns meltdown in mid March.
GE always keeps some real estate in it’s pocket that has [...]

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 [...]

22Apr2008 | Tom Royce | 0 comments | Continued

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 [...]

20Apr2008 | Tom Royce | 3 comments | Continued

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 [...]

19Apr2008 | Tom Royce | 2 comments | Continued

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 [...]

19Apr2008 | Tom Royce | 0 comments | Continued

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 [...]

18Apr2008 | Tom Royce | 3 comments | Continued

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 [...]

17Apr2008 | Tom Royce | 1 comment | Continued