Archive for Tom Royce

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Mortgage Relief Is A Credit Killer – And People Are Surprised?

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!So you can not pay your mortgage and you sign up for the government mortgage relief plan. You get accepted and then come to find out that your credit scores take a huge hit.
And you are surprised.
Welcome to [...]

21Mar2010 | Tom Royce | 0 comments | Continued
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Multigenerational Households Hit 50 Year High

The American Dream was to grow up, buy your own home in the suburbs with the white picket fence, and live happily ever after. But the dream and the modern reality are heading further and further apart. 16 percent of the population is now living in multigenerational households and that number is rising quickly.
Foreclosures, [...]

20Mar2010 | Tom Royce | 0 comments | Continued
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Zell Predicts Real Estate Recovery Starts End of 2010

Last week Warren Buffet will rebound in 2011, today Sam Zell (another billionaire) said essentially the same thing. Zell speaking with Bloomberg says the recovery will start at year end and gain strength in the middle of next.
The concern I have is not the financial markets now, it is the relationship between the markets and [...]

19Mar2010 | Tom Royce | 5 comments | Continued
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Weather and Economy Hurt New Home Construction in February

February was not a good month for new home sales. The weak economy and brutal weather contributed to the moribund numbers on new housing starts. The numbers are expected to drop from last years terrible February and this years weak January.
Expectation that housing development will improve in March are far fetched looking at how [...]

17Mar2010 | Tom Royce | 1 comment | Continued
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Mortgage Rates Rising Could Hurt Real Estate Sales

If you are looking to purchase a home in the near future, watch the mortgage rates. Due to the Federal Reserve buying up mortgage paper and a severe recession we have enjoyed historically low mortgage rates recently.
That all might change.
And with this change the cost of housing may rise.

If rates do go [...]

16Mar2010 | Tom Royce | 0 comments | Continued
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Rental Scams on Craigslist – Landlords Beware

If you thought the scams being run on Craigslist were just on ripping off prospective tenants as we talked about before here, you are missing the other side of the coin. Landlords are in just as much danger.
The new scam involves renters sending fake cashiers checks and money orders. The landlord is thrilled to [...]

15Mar2010 | Tom Royce | 4 comments | Continued
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Spring Real Estate Talking Points – An Article Full of Positives

You and I both know that this site has taken a tough look at the real estate market. I think it has been objective, but I am sure that others will disagree.
My perspective has always been from the consumers point of view, not the industries. As such, I am concerned how the real estate industry [...]

15Mar2010 | Tom Royce | 0 comments | Continued
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The Foreclosure Tsunami That No One Is Talking About

If you are working in the real estate business this sentence should scare the hell out of you.

About 5 million to 7 million properties are potentially eligible for foreclosure but have not yet been repossessed and put up for sale.

It scares me. This overhang is so big the rounding error is 2 million [...]

14Mar2010 | Tom Royce | 5 comments | Continued
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Top 10 Cities For Tornado Activity

I don’t know about you but I hate tornadoes. Seriously.
So it does not warm my heart to realize I live between the 2nd worst and the 9th worst cities in the country for tornado activity. Ugh…
Give me a hurricane any day of the week. You know you are going to get clobbered with a hurricane [...]

10Mar2010 | Tom Royce | 4 comments | Continued
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CitiGroup Selling Real Estate Division to Apollo

A sign that the big banks are focusing on core fundamentals and not esoteric investments happened today. Citigroup is selling their Citi Property Investors division to Apollo Management. The reasons for the sale are 2 fold. One, these investments are tanking. They are not performing and are a drag to the company. Better to divest [...]

10Mar2010 | Tom Royce | 1 comment | Continued
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    • Very funny comparison. However you don't need to pay property tax on Barbies 3 Story Dream House. With the unemployment ...
      Pete | 21Mar10 | More
    • My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
      Brandon | 20Mar10 | More
    • I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
      Bill Hernandez | 19Mar10 | More
    • Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
      Marc Brodeur | 19Mar10 | More
    • Great to hear that the big boys are predicting recovery sooner than most think. Thanks for the value!
      Mark Arenella | 19Mar10 | More
    • I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
      Austin Mortgage | 19Mar10 | More
    • an add on to my previous comment--I suppose nationally it's hard to tell, but each city and market is in ...
      Austin Mortgage | 19Mar10 | More
    • Hmm.....interesting. Of course, I would love to see the real estate market bounce back as quickly as possible, but just ...
      Austin Mortgage | 19Mar10 | More
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      homes for sale in chandler az | 19Mar10 | More
    • I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
      Jack | 18Mar10 | More
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