Archive for Tom Royce

Happy 4th of July - The Declaration of Independence

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Have a Wonderful 4th of July and remember that the liberty and freedom you enjoy were paid for in blood, and continue to be so.

3Jul2009 | Tom Royce | 0 comments | Continued

Waxman-Markey Cap And Trade Will Make Homes Cut Energy Consumption 62 Percent

Get ready for the roller coaster if the Cap and Trade Bill that was passed by the House of Representatives last week becomes law. Those who are living in older homes or homes that are not the most energy efficient are essentially screwed.
Over the next few days I will be outlining what is in [...]

3Jul2009 | Tom Royce | 4 comments | Continued

Mortgage Lending Drops as Interest Rates Rise - Surprised

While the government is spending money to fix our problems, the resulting rising interest rates are putting pressure on the mortgage market. So much so that mortgage lending has dropped to an 8 month low as higher interest rates and rising unemployment is convince homebuyers to remain at home.
The scary thing is that this genie [...]

2Jul2009 | Tom Royce | 1 comment | Continued

Housing Plan Stuck, National Recovery In Hands of Real Estate Market

As the Treasury Department training company, Goldman Sachs, records incredible profits, the housing market is fighting a battle to save the economy. The 275 billion that the Federal Government allocated to infuse into the housing market is failing to get into the hand of the borrowers. It is staying with the bankers paying down their [...]

30Jun2009 | Tom Royce | 6 comments | Continued

The Waxman-Markey Cap and Trade Bill Will Control Housing Standards

Remember the local and state building regulations that you have worked under if you are a builder. As New Yorkers would say, Forgetaboutit…
The new legislation that passed through the House last night, unread by any of the Congress people, had inserted into the bill a new NATIONAL BUILDING CODE. You heard me right, there is [...]

27Jun2009 | Tom Royce | 24 comments | Continued

Bank of America Offering Cities First Crack at Foreclosures

I am not comfortable with the new Bank of America policy of offering foreclosures to cities and municipalities to buy instead of offering it to the general public. The goal is to allow the cities to buy the properties, rehab them, and then sell them to families. All well and good.
But isn’t that the goal [...]

26Jun2009 | Tom Royce | 7 comments | Continued

Real Life Meets Dilbert

I wonder how often this is happening these days.

Sad but true…

26Jun2009 | Tom Royce | 3 comments | Continued

Evander Holyfield’s House Under Foreclosure… Again

Evander Holyfield’s home is massive. When you drive by it (it is not far from our house) you think it is a museum. But the cost of maintaining the home and the other expenses that the aging boxer are wearing out his resources and for the second time in a year the home is under [...]

25Jun2009 | Tom Royce | 10 comments | Continued

Countrywide Mortgages Friends Of Angelo Program Investigation Stalled

What happens when you give special deals to politician?
You tend to get away with it.
That is the lesson that the investigation into the Friends of Angelo program that Countrywide and Angelo Mozilo offered influential politicians to get below market loans. They got cheap mortgages, he got an ear to listen to how regulations were [...]

24Jun2009 | Tom Royce | 1 comment | Continued

90 Billion In Commercial Foreclosures - REITS and Vultures Racing In

There are alot of people going to get rich in the next couple of years.
As many real estate developers are losing buildings to the banks, a group of investors are about to pick over the failures and they are looking for deals. Commercial property values are dropping, refinancing capital is scarce, but there is one [...]

22Jun2009 | Tom Royce | 1 comment | Continued