Archive for September, 2009

Senate Looks To Allocate $200 Million For Real Estate Fraud Prosecution

Are you living in the gray area in the real estate world? Or worse, are you in the midst of all out mortgage fraud? Bet you are thinking that the police and prosecutors have much bigger fish to fry and you are safe ripping off the banks and other people.
You may have guessed wrong.
Prosecutors [...]

30Sep2009 | Tom Royce | 6 comments | Continued

The War Between Online Real Estate Information and The MLS

Never forget the power of entrenched interests. While the new guys are focused on innovation and extention, the old guys typically spend all their time protecting what they have. Till it is gone.
The battle between the online real estate services (Zillow, Trulia, blogs) and the MLS systems took another turn in Washington state recently. The [...]

29Sep2009 | Tom Royce | 10 comments | Continued

IRS Denies Home Donation To Fire Departments For Training Purposes

The IRS is killing babies to raise tax revenue!
Yes, I know, it is an insane and controversial statement. But in the absurd there is some truth. The IRS has been disallowing the deduction for donating buildings for firefighters to train in.
In the past, you could donate a building or home that was slated for [...]

28Sep2009 | Tom Royce | 2 comments | Continued

Chicago Rents to Skyrocket Due To Double Digit Property Tax Increases

When it comes to stupidity, the government of the city of Chicago leads the way. Must be why they call it the Chicago Way…
Property owners in Chicago are facing rampant rent increases as they face property losses of up to 20 percent at the same time. Yes, I know that government costs increase, but our [...]

25Sep2009 | Tom Royce | 5 comments | Continued

University of Central Florida Offering Masters in Real Estate

One of the complaint you hear about real estate agents and professionals is the difference in knowledge between agents. We all get frustrated when the other side of a deal is not at our level of competence. Fortunately, increased professionalism coming to the industry and starting to have an impact. Recognized educational degrees will help [...]

25Sep2009 | Tom Royce | 2 comments | Continued

Senate Version of Cap and Trade Will Pummel Real Estate Market

Don’t say you haven’t been warned. Especially if you make a living in the building or real estate industry. The Senate version of the Cap and Trade bill coming out of the Environment and Public Works Committee is a doozy. Here is my summary version:
Home prices will go down. Closing home sales will be more [...]

23Sep2009 | Tom Royce | 6 comments | Continued

Atlanta developer James Robert Ward Arrested For Wifes Murder

The real estate downturn has caused many, many casualties in the past few years. Today it looks like it just may have contributed to another one. James Robert Ward, an Atlanta developer who lost his business, is accused of killing his wife in their temporary home in Orlando, Florida.
Ward’s company, Land Resources, went under [...]

23Sep2009 | Tom Royce | 7 comments | Continued

Will Washington Extend the $8,000 Tax Credit

My answer is a yes. Yes, our beloved Federal Government will extend the tax credit to new buyers for another year because of 2 main reasons.

The politicians may be fools, but they are survivalists first. The economy and stock market are both trending up on some very weak data. Any blip in the economy [...]

22Sep2009 | Tom Royce | 9 comments | Continued

Commercial Real-Estate Sales Plummet in July, 2009

If you are looking for a deal on a commercial property and are planning on holding it for a while, it is probably time to move. For the month of July, commercial sales, both prices and volume, dropped significantly from last years numbers.
It looks like the lack of credit combined with a major retrenchment by [...]

22Sep2009 | Tom Royce | 3 comments | Continued

Lennar Sees Improving Market As It Posts Wider Losses

I am not sure what to believe anymore when reading the new housing sectors earning reports. On one side we have the marketers and the optimists who are telling us that the turn around is happening and to be excited about the prospects for the future. Yet, in the next breathe they are saying that [...]

21Sep2009 | Tom Royce | 1 comment | Continued