Archive for July, 2009

Case Shiller Report For May 2009 – Real Estate Looking Better

The anecdotal evidence we have heard from real estate agents across the country is being proven as real estate values across the country have gone up in the May, 2009 Case Shiller report. Numbers were up across the board and into positive or break even territory in all but 5 of the 20 cities.
This [...]

29Jul2009 | Tom Royce | 4 comments | Continued

Countrywide Told Dodd and Conrad They Were Getting Special Deal on Mortgages

For the past 2 years, “Friends of Angelo” Mozilo, Senators Chris Dodd and Kent Conrad have denied knowing they got a special deal on their mortgages from Countrywide Mortgage. Now in testimony before investigative panels, an employee who worked in the VIP section of Countrywide is blowing the whistle on these 2 Senators.
What is [...]

28Jul2009 | Tom Royce | 2 comments | Continued

Chicago Woman’s Tweet Provokes Lawsuit By Apartment Management Firm

What looks like the first defamation suit over a Twitter message, or tweet, is occurring over you guessed it, real estate. Horizon Group Management is suing Amanda Bonnen over her tweet concerning mold in an apartment for $50,000.
While this is not surprising, it seems that real estate is rife with opportunities for companies suing [...]

28Jul2009 | Tom Royce | 9 comments | Continued

Banks Working Politicians in Arizona to Garnish Wages on Some Foreclosures

When banks started getting hammered in Arizona with foreclosures, they immediately went to the legislature to get some protection. Instead of taking their lumps for poorly written loans and terrible underwriting decisions to investors, they decided to get the laws changed so that they could go after those investors.
But as typically happens, the law [...]

27Jul2009 | Tom Royce | 4 comments | Continued

Are Bomb Shelters a Hot Spot in the Real Estate Market?

With all the doom and gloom in the real estate market, it is nice to see a bright spot. Actually, it is house in case there is a really, really bright spot. Like a nuclear explosion.
Yep, you guessed right, bomb shelters are in style again. Having a bomb shelter is no longer the domain [...]

23Jul2009 | Tom Royce | 5 comments | Continued

New Jersey Woman Hold Foreclosure Bake Sale and Makes Mortgage Payment

This is a great story.
Angela Logan, a Teaneck, New Jersey mother of 3, was about to lose her home. Instead of ignoring the problem she decided to meet it head on. She held a bake sale where she offered her mortgage apple cake for $40.00 a piece.
With a little publicity and a little luck, it worked. [...]

22Jul2009 | Tom Royce | 5 comments | Continued

Couple Accused of California Loan Modification Fraud Arrested in Canada

Fraudulent loan modification is where the real estate scam artists are working these days. The ability to prey on those who are weak and scared attracts the worst scum. But score one for the good guys. A San Jose, California couple who were ripping people off to the tune of $3,000 to $4,000 for loan [...]

22Jul2009 | Tom Royce | 4 comments | Continued

Small Fish Buying a Whale? Morgan Lane Marin Buying Pacific Union

In a strange way, this buyout makes sense. The smaller firm of Morgan Lane Marin is buying out the larger Pacific Union GMAC Real Estate. Both of these firms concentrate in the expensive market of Marin County, California.
Usually the small guy buying the larger competitor does not make sense. In times of tight credit, [...]

21Jul2009 | Tom Royce | 1 comment | Continued

White House’s Foreclosure Plan Failing?

We have been accused of being too hard on Barack Obama’s administration lately. I would not disagree. His rapid growth in the national debt and failures in managing the economy are scaring the heck out of me and it is hard not to show my emotions on this site.
But now even Democrats are getting [...]

20Jul2009 | Tom Royce | 4 comments | Continued

Could We See Shrink Wrapped Homes Waiting To Be Sold?

When I think of shrink wrap I tend not to think of housing. That is a novel idea being floated by the Reno, Nevada company Fast Wrap. Wrap an unsold home in shrink wrap to protect it from the elements and preserve it till the market turns around.

Fast Wrap, a franchise operation based in Reno, Nev., [...]

16Jul2009 | Tom Royce | 6 comments | Continued