Archive for April, 2009

Death to man who sold land to Jews in Palestine

To all the United States real estate agents, when things are bad, you still do not have it bad. Look at the horror that is going on in Palestine.
Anwar Brigith, 59, has been sentenced to death for selling a home to an enemy of the state. The man is to be hanged because he sold [...]

30Apr2009 | Tom Royce | 3 comments | Continued

Relocating: Atlanta Named Top Destination By UHaul in 2008

U-Haul has released their annual survey of top destinations for one way truck deliveries in 2008 and Atlanta is at the top of the list. Following closely is Houston and then the two beleaguered cities of Los Angeles and Las Vegas.
It is interesting to note that all of these cities has had severe drops in [...]

30Apr2009 | Tom Royce | 3 comments | Continued

Unique Real Estate – A 3 Bedroom 2.5 Bath Missile Silo

If you always wanted to live a little differently, we have the home for you. A converted Atlas F Missile Silo is available in the Adironback Mountains in upstate New York for the cool price of 2.3 million dollars. The home features access to an airstrip, 20 acres, and above and below ground living.
Pretty [...]

29Apr2009 | Tom Royce | 5 comments | Continued

Case Shiller Report For February 2009 Bleeds Red, Phoenix Down 50%

When you look back at this period of real estate history in the United States you will have to wonder how we kept our sanity. The picture of the stockbroker jumping out of the window is the image from the Great Depression. What will be the image of the Real Estate agent who went through [...]

29Apr2009 | Tom Royce | 4 comments | Continued

Mortgages May Be Safe From Bankruptcy Judges

This is good news for the mortgage industry. The housing bill winding it’s way through Congress is most likely not going to include a cramdown provision allowing bankruptcy judges to change mortgage terms.
This will give mortgage writers the confidence that the terms of the mortgage can be upheld and that rates will not rise to [...]

28Apr2009 | Tom Royce | 4 comments | Continued

Wall Street Feeling Positive About Home Builders

With all of the doom and gloom in the real estate news these days, this is some great news. Wall Street is getting bullish on home builder stocks. Beazer Homes shares soared 37% yesterday, and Lennar Corp. was upgraded to stable.
According to the National Association of Home Builders, the inventory of new homes has shrunk [...]

28Apr2009 | Tom Royce | 3 comments | Continued

Sheldon Good Files For Chapter 11 Bankruptcy

In the aftermath of the suicide of Steven Good and the disclosure that he had embezzled a significant portion of the debtors operating accounts, the company has filed for Chapter 11 bankruptcy.
Sheldon Good, one of the largest auction houses in the country, has been beset by problems with the economy and the auction market. [...]

27Apr2009 | Tom Royce | 2 comments | Continued

Monthly Commercial Real Estate Deliquency Rate Rising Rapidly

According to a report issued by Deutsche Bank the Wall Street Journal has published, the delinquency rate for commercial real estate has been rising dramatically over the past few months. Fro a relatively neutral position up until August, 2008, the rate has bee rising rapidly.
Monthly Commercial Real Estate Deliquency Rate Change

Aug-08
0.90%

Sep-08
9.10%

Oct-08
11.50%

Nov-08
23.00%

Dec-08
21.60%

Jan-09 [...]

27Apr2009 | Tom Royce | 3 comments | Continued

Senior Housing A Strong Point In Market

As the housing market continues to move slowly, there is a bright spot out there, senior assisted housing. My mother in law is now going into a community and demand is still strong as seniors citizens are needing that extra care and comfort that senior housing provides.
And since a large percentage of the homes owned [...]

25Apr2009 | Tom Royce | 2 comments | Continued

Why Are Home Sales Slow? People Have Stopped Moving

With the economic slowdown, people are staying closer to home. People are moving less than at anytime since 1962. Even immigration has slowed down.
The combination of job loss, lack of equity in their present property values, and just plain fear is stopping the market dead in their tracks.