Archive for March, 2009

Realogy Gets 150 Million Dollar Commitment From Apollo To Stay In Business

A month ago I asked the question, “Is It True Realogy Might Not Survive 2009?” that caused some controversy. We now know the answer, Realogy will make it through 2009 as Apollo Management, the firm that took Realogy private in 2006, has committed 150 million dollars to Realogy for 2009 to weather the storm.
With the [...]

16Mar2009 | Tom Royce | 2 comments | Continued

Chicago Homesellers Will Need To Be Fingerprinted

To help combat real estate fraud the city of Chicago is requiring starting June 1st that homesellers provide a fingerprint.
With rampant fraud occurring in the city, this is not a bad idea. But being a libertarian, the idea of a government official taking my fingerprint disturbs me. I would like to see that these [...]

14Mar2009 | Tom Royce | 15 comments | Continued

Fannie and Freddie Fail To Meet Low Income Lending Goals

All I can say is Thank God that Fannie Mae and Freddie Mac failed to meet their low income lending goals. Now you can call me a heartless bastard, but I really do not mind. Hear me out.
We have heard how evil lenders have been writing loans to families that could not pay it [...]

14Mar2009 | Tom Royce | 1 comment | Continued

Goodbye Sears Tower – Hello Willis Tower

London insurance giant Willis Group Holdings is changing the name of the Sears Tower to the Willis Tower. As the dominant tenant in the Chicago landmark they are exercising their naming rights to one of the tallest buildings in the world.

The insurance broker announced Thursday morning that it will move to the Sears Tower [...]

12Mar2009 | Tom Royce | 8 comments | Continued

Top 10 States For Foreclosures for February 2009

The list of top states with the highest rate of foreclosure has not changed much for February, 2009. The big 4, Nevada, California, Arizona, and Florida account for a great deal of the foreclosure activity in the United States.
Here is another interesting tidbit, 39% of foreclosures that are occurring are in 35 counties. So [...]

12Mar2009 | Tom Royce | 5 comments | Continued

Client Shoots Real Estate Agent in Rock Hill, South Carolina

I am afraid as people feel their savings are disappearing that they will take out their frustration on agents, both real estate and financial.
All I can say is be careful out there.

Police say an 88-year-old client who wanted his down payment back on a deal shot a South Carolina real estate broker.
Rock Hill Police [...]

11Mar2009 | Tom Royce | 3 comments | Continued

Greenspan – Housing Bubble Not My Fault!

Just so you are not confused, the Federal Reserve had absolutely, positively nothing to do with the housing bubble. That is according to an editorial Alan Greenspan wrote in the Wall Street Journal. It was all due to China and other emerging markets. The Federal Reserve had nothing to do with it.
Now I am not saying [...]

11Mar2009 | Tom Royce | 9 comments | Continued

Realtor Wars – The Sign Stealing and Stomping Episode (Charges Dropped)

UPDATE: Dan DeFranca has sent an update to the story from the Herald Online:
A Fort Mill Realtor who officials contend damaged a former-employee-turned-competitor’s sign no longer faces a criminal charge.
The York County 16th Judicial Circuit Solicitor’s Office has dropped a charge of malicious damage to personal property against Daniel L. LaFranca of JAV Real-estate Connection.
“I [...]

10Mar2009 | Tom Royce | 6 comments | Continued

Top 10 Most Improved Selling Zip Codes

If you are looking for where the housing turnaround is occurring and homes are selling, see the hardest hit areas in California, Florida, and Arizona. Home sales improvements are occurring, but in the top 10 zip codes for improved sales, don’t expect to sell you home.
What is he saying, don’t expect to sell you [...]

10Mar2009 | Tom Royce | 5 comments | Continued

Real Estate Crime Unit Formed In Brooklyn, New York

Real estate crime was endemic across the country when prices were running up in the middle of this decade. The lack of focus by law enforcement created the situations that criminals just jumped in and started stealing homes. By either forging documents and refinancing or creating false values, there was a great deal of fraud and theft.
Now in [...]

9Mar2009 | Tom Royce | 1 comment | Continued