BEST MORTGAGE DEALS

Wells Fargo, Wachovia Set to Merge?

2008-10-07T11:05:00.099-07:00

Talk about a banking coup! Just last week we thought that Citi would wind up as the winner of the Wachovia banking sweepstakes . . . fast forward to this morning, and it looks like Wells Fargo’s bid, which is over 7 times that of Citi - a whopping $15.1 billion, is going to help to create Wells Fargo Wachovia, the largest retail bank in the country.

According to the Columbus Business Journal:

San Francisco-based Well Fargo (NYSE:WFC), whose home mortgage division runs three branches in Central Ohio, said Friday it intends to buy all operations of Charlotte, N.C.-based Wachovia with no need for financial assistance from the Federal Deposit Insurance Corp. or other government agencies.
Wells Fargo expects the combination would be profitable in its first year, excluding integration costs, write-downs, transaction charges and additions to its credit reserves. The company expects to incur merger and integration charges of about $10 billion. The bank plans to issue up to $20 billion of new Wells Fargo securities, primarily common stock.
The combined company would take the title of the largest coast-to-coast retail bank in the U.S. away from Wachovias crosstown rival Bank of America Corp. (NYSE:BAC), which has $701.5 billion in domestic deposits. The merger would create a bank with $1.42 trillion in assets, $787 billion in deposits and a customer base of 48 million and nearly 11,000 branches.

What are your thoughts? Who will end up owning Wachovia?

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Wells Fargo, Wachovia Set to Merge?

Wholesale Conforming Mortgage Rates and Pricing 9/18/2008

2008-10-07T11:05:00.097-07:00

Wholesale Conforming Mortgage Rates and Pricing 9/18/2008No comment on why rates a slightly higher today even though Treasuries are lower…Maybe I need an abacus.In any case, rates are still low but trending higher.Conforming 3 Year ARMConforming 5 Yr ARM Conforming 15 Year Fixed Conforming 30 Yr FixedWholesale direct Conforming rates and pricing shown are based

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[Source: The XBroker]

Bankrate.com Mortgage Trend Index (October 2, 2008)

2008-10-07T11:05:00.095-07:00

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. As a reminder: The survey is for conforming loans only. Send me email for personal purchase or refinance questions. I send market updates a few times daily. Get them on your mobile....

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

Mortgage Rates Respond To A Rapidly-Devaluing U.S. Dollar

2008-10-07T11:05:00.093-07:00

Monday, Wall Street made its verdict in the case of Government vs The Credit Markets, a knock-down, drag-out fight that may have ended last Friday. Government wins, but not without inflation. To an economist, inflation is the general increase in the price of everyday goods and services that occurs...

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

How To Avoid Paying Jumbo Mortgage Rates On A Jumbo-Sized Mortgage

2008-10-07T11:05:00.091-07:00

How do you avoid paying jumbo mortgage rates on a jumbo-sized mortgage? You avoid taking your mortgage to a Wall Street lender, that's how. It's pretty simple when we break it down. The word "jumbo" is a Wall Street-specific term for home loans larger than $417,000. In certain "high-cost" areas,...

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

Wholesale Conforming Mortgage Rates and Pricing 9/15/2008

2008-10-07T11:05:00.089-07:00

Re-Blogged from RateSpeed.com…Wholesale Conforming Mortgage Rates and Pricing 9/15/2008Rates continue to trend lower as Wall Street spins into the abyss.Although I would like to offer some useful advice, insight et alIm at a loss for words, watching like everyone else as we move into uncharted territory. All I have is a little bit of personal

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[Source: The XBroker]

Why Mortgage Guidelines Are More Important Than Mortgage Rates

2008-10-07T11:05:00.087-07:00

Shortly after Fannie Mae and Freddie Mac were nationalized, there was a lot of "Mission Accomplished"-like chatter on TV; as if suddenly-low mortgage rates were the answer to a national housing problem. Look, low mortgage rates don't matter if you can't qualify for them and, on that front, it's...

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

They saw it coming

2008-10-07T11:05:00.085-07:00

Greetings from the metropolis of Cedar Crest, NM.

My ten year old son, Colt, loves football. Colt’s football season came to an end this past weekend and he was devastated. In an effort to pick up his spirits, I promised him that we would practice basketball this coming Monday. My words of basketball did not keep the tears back….but he did realize that a new season of basketball was just around the corner. Colt knew football would come to an end….just did not realize how quickly the last day would come….but we all knew it would come.

No truth in politics and YES…..that includes the politicians

As we go through this very difficult economic season, we hear the cries and shouts from all corners of the class ladder. Turn on the TV or any AM radio station and you will hear the desperate voices…complaining and blaming. With every complaint and every tear….there is a politician ready to listen and ready to wipe the tears. But we all know there is no truth in politics…no matter what party you follow. So when I see the bumper sticker with the face of a politician and the word “HOPE”….I laugh to myself. Hope where there is no truth….how foolish are we?

We told you so…..

But….underneath the media stories and the political ads lies a small group of individuals that saw this coming. These individuals are not all on the same page and do not all agree with each other…BUT…they saw it coming. I am not saying these people saw it coming a year ago or two years ago….but some saw it several years ago and some saw it decades ago.

These sophisticated and not so sophisticated individuals wrote articles and books of what is to come. Others just created websites of the coming gloom and doom. There were those that studied the cycles and based on history, predicted this economic down turn. There were others that studied conspiracy theories going back hundreds of years ago.

No matter how they came to the same conclusion…..they all saw it coming.

The “I told you so” group

There are a handful of “I told you so” prognosticators. Most of the have to do with the stock market, a few with real estate, the others with the banking system. But if you are interested….here is how I started down this path…..

1) Prophecy by Robert Kiyosaki. Like most of you, as a budding entreprenuer, I started out with the series of Robert Kiyosaki books. Rich Dad, Poor Dad got me thinking differently. Robert’s book Prophecy…just got me thinking. Mostly about stocks and retirement funds, the discussion on cycles was very intriguing to me.

2) The Next Great Bubble Boom by Harry S. Dent. Again…mostly about stocks….but real estate is also mentioned. This book freaked me out…a little. But….Harry is almost on the money….so now it freaks me out a lot! I think it is worth a read…I will probably read it again.

3) The Pirates of Manhattan by Barry J. Dykes. This is a newer book but worth a read. A little on the conspiracy theory (okay…a lot) but very interesting and a bit demoralizing. If that hopelessness feeling does not hit you with this book…the next one might do it.

4) The Creature from Jekyll Island by G. Edward Griffin is the “king” of all conspiracy theory books I have come across regarding the banking system. This is a great book if you want to understand banking system from it’s roots….but this is a text book…not an easy read…but the conspiracy stuff reads like a novel. Per Griffin….everything that is happening today was part of a plan devised in early nineteen hundreds. Griffin wrote this in the early 90’s. To give you a better feel for the book…Congressman Ron Paul endorses it.

Did we not all see it coming?

We all knew the end was coming….but did we just choose to ignore it? In some cases, I knew it was coming and took action. In other cases….I ignored what was coming and I may possibly pay for it. Either way….we are all going to pay for it….right?

Until next time….rob

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They saw it coming…

Apparently Zillow Wants All The Cake

2008-10-07T11:05:00.083-07:00

Maybe my thinking is a little selfish, but if I were a participating mortgage professional in the Zillow Mortgage Marketplace I wouldn’t be pleased to see is an ad like this on the home page:Not saying that there shouldn’t be advertisements, but if I’m taking the time to fill consumer quotes within their community, I

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[Source: The XBroker]

Im Over At AgentGenius Today

2008-10-07T11:05:00.081-07:00

…discussing the Fannie and Freddie Government takeover news…Image Provided by AgentGenius (Probably Lani)aI’m Over At AgentGenius Today…

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[Source: The XBroker]

Unemployed Lady Slammed With $61.00 Fine For .10 Overdraft

2008-10-07T11:05:00.079-07:00

Being in the mortgage business, I get it when the banks, Freddie, and Fannie are raising loan fees to make up for losses.Here is one I don’t get.We have been helping an unemployed woman. We is a lot of us. She was certainly upset and the big bank made her pay. Perhaps it was because [...]

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[Source: RealEstateUndressed]

Bankrate.com Mortgage Trend Index (September 25, 2008)

2008-10-07T11:05:00.077-07:00

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. As a reminder: The survey is for conforming loans only. Send me email for personal purchase or refinance questions. I twitter market updates a few times daily. Get them on your mobile....

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

Losing Your Home to Foreclosure? Shoot Yourself and All Will be Forgiven by Fannie Mae?

2008-10-07T11:05:00.075-07:00

In a sign that things have really gone awry, a 90 year old woman, Addie Polk, who was being evicted from her foreclosed home, shot herself two times. This tragedy has become a national story.

According to CNN, “Fannie Mae said it will set aside the loan of a woman who shot herself as sheriff’s deputies tried to evict her from her foreclosed home. On Friday, Fannie Mae spokesman Brian Faith said the mortgage association had decided to halt action against Polk and sign the property “outright” to her.

‘We’re going to forgive whatever outstanding balance she had on the loan and give her the house,” Faith said. “Given the circumstances, we think it’s appropriate.’”

Thoughts?

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Losing Your Home to Foreclosure? Shoot Yourself and All Will be Forgiven by Fannie Mae?

Parsing The Fed (September 16, 2008 Edition)

2008-10-07T11:05:00.073-07:00

For the third straight meeting, the Federal Open Market Committee adjourned with the Fed Funds Rate at 2.000 percent. In its press release, the Fed alluded to the myriad of pressures on the U.S. economy: On Wall Street: Strains have "increased significantly" On Employment: The workforce has...

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

Skating On A Frozen (Credit) Pond

2008-10-07T11:05:00.071-07:00

The credit markets have been so frozen that the Government felt that they had to step in with the recently enacted $700 Billion bailout. The freeze that started with subprime mortgage loans had spread to prime mortgages, auto loans, credit cards and other consumer loans. The entire economy was teetering on the brink of collapse. This situation was so serious that they felt compelled to act a mere five weeks before a major election. This bailout is going to fix all of that, right? Wrong!

The idea of the bailout is to help large lenders and investment firms in danger of being crushed by the weight of the bad loans on their books. The fear is that there would be a domino effect throughout the economy that would cause it to come to a screeching halt. As these companies are relieved of the burden they would, in theory, be able to lend again. The initial benefit of the bailout legislation will be felt by these large institutions. The hope is that the benefit will trickle down in time and the economy will improve. The key phrase here is in time, this is not an instant solution.

Whats An Investor To Do?

Real estate investors need to get creative. The days of easy credit and no money down loans are gone for good. The so-called liar loans are as extinct as the dinosaurs and investors will actually have to (gasp) qualify for the loans they want. In terms of the long-term health of the real estate market, this is a good thing.

Investors who are challenged with poor credit or lack cash for down payments will have to look for alternatives. They will need to seek out sellers willing to provide financing, find money and credit partners and learn to acquire property subject-to the existing financing. All of this was done before the housing bubble and easy credit days and it can be done again.

Whats A Consumer To Do?

The primary thing that a consumer needs to do is forgo the need for instant gratification. The recent economic expansion was fueled, primarily, by credit. The bill has certainly come due. If you want something you should do the unthinkable: save for it. So many people are burdened by debt that they acquired to buy things that they could have done without. Its time to pay as you go and stop maxing out the plastic.

If people learn a lesson from all of this we may actually come out ahead. Its time to stop spending money that we do not have. This is also true of our Government, the wasteful spending and pork has to stop. We cant keep throwing money away, we need to establish priorities and stick to them. Weve had tough times before and we have managed to get through them and I believe that we will get through this as well. Will it be easy? Absolutely not.

The government solution to a problem is usually as bad as the problem.
Milton Friedman

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Skating On A Frozen (Credit) Pond

The $700 Billion Banking Bailout Bill Passes - Will It Work?

2008-10-07T11:05:00.069-07:00

Paulson’s $700 Billion bailout bill passed the House on a 263-171 vote and the President signed it into law. Last week I promised a discussion (assuming Congress would pass the bill) on whether or not the Bill would work. So let’s get to it..

Will the Bailout Bill Work?

First, this is a false question. Paulson and Bernanke scared Congress who in turn attempted to scare the voters by painting a picture of Main Street catastrophe…businesses going bankrupt, unemployment spiraling out of control, and no lending to consumers of any kind.

To discuss whether Paulson’s bailout will work to solve these calamities is to accept the premise they exist.

They do not.

Businesses today have availability of credit. Consumers with decent credit scores can get mortgages, car loans, and credit cards as easily today as last month or last year. Returning to sound credit underwriting principals should not be mistaken for a credit freeze due to lack of liquidity.

As a matter of fact, the only institutions that can’t get credit are commercial banks seeking overnight lending from other commercial banks.

That’s it.

That overnight bank-to-bank lending is the only “frozen” credit market …and many believe it was Bernanke himself who drained the liquidity out of the market intentionally leading up to the first vote so every news story would be about the TED spread and a “frozen banking system”.

Bernanke drained $125 Billion of liquidity as evidenced by the Slosh Report from September 18th to September 24th at exactly the time he should have been adding.

Huh?

Why would Bernanke do this?

The Fed MANUFACTURED a crisis for Paulson to fix. Fix with $700 Billion of tax payer money that is. The Fed will pump liquidity back into the system once the bill is law.

This bill was nothing more than economic extortion. If I make you think I’ve kidnapped your child when I haven’t (giving you self-created “evidence” to support the claim) and convince you for the safety of your child to pay me a ransom, I’ve committed a serious crime.

Bernanke and Paulson have done nothing less…

If Paulson and Bernanke knew the American economy was NOT headed for collapse but simply used it to lay their hands on $700 Billion, the question arises…

“What is the real reason Hank and Ben want $700 Billion?”

That question will get answered next week….and you ain’t gonna like it!

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The $700 Billion Banking Bailout Bill Passes - Will It Work?

Clark's Calm Helps Cubs To Fast Start

2008-10-07T11:05:00.067-07:00

One of the keys to Georgetown Visitation's 6-2 start has been the emergence of senior Christina Clark as a tone-setter for the Cubs, both with her play in the midfield and her poise during close games.

Betting on Financial Armageddon

2008-10-07T11:05:00.065-07:00

John Mauldin looks inside residential mortgage backed securities and how the math on the ratings is not for the faint of heart.

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[Source: Online Trading Academy's Lessons from the Pros]

Trading and Gambling

2008-10-07T11:05:00.063-07:00

Sam Seiden discusses the similarities between trading and gambing, but how if you trade the right way, the odds are better for you to make gains with trading.

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[Source: Online Trading Academy's Lessons from the Pros]

Sitemaps.xml for your Real Estate Website

2008-10-07T11:05:00.061-07:00

Troy asks in one of the comments about an easy way to make Google Sitemaps for his real estate website. If you have a WordPress Blog as well as other Open Source blogs you can use a plug in that...

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[Source: Real Estate Marketing Blog ]

Mortgage Rates Are Falling On The Combined Impact Of The Bailout Bill And The Washington Mutual And Wachovia Seizures

2008-10-07T11:05:00.059-07:00

With mortgage rates moving faster than the Spread HD offense this morning, let's take a few minutes to recap what's going on, and what's causing rates to fall. First, the bailout. Late Sunday, Congress drafted the Emergency Economic Stabilization Act of 2008 bill and it goes to vote sometime today....

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

Bankrate.com Mortgage Trend Index (September 18, 2008)

2008-10-07T11:05:00.057-07:00

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. As a reminder: The survey is for conforming loans only. Send me email for personal purchase or refinance questions. I twitter market updates a few times daily. Get them on your mobile....

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

Bottom?

2008-10-07T11:05:00.055-07:00

It will get better, sooner than later! This sounds like the mom telling her son that the swelling and welt on his face will go away minutes after just getting pummeled by the school bully. Nevertheless, we see some positivity...

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[Source: Real Estate Marketing Blog ]

September Magnificent 7 Nominees

2008-10-07T11:05:00.053-07:00

The online consumer content was great this month. Here are the nominees for the 2008 Magnificent 7. LarIn random order:1- You Thought Mortgage Fraud Was Over Think Again by Tucson Real Estate Blog: It seems the downturn in the housing market has done more than cause cracks in stucco. Since the mortgage industry meltdown last [...]

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[Source: RealEstateUndressed]

By Request, Here are my Tenant Rules!

2008-10-07T11:05:00.051-07:00

Some readers did ask for my rules. Your rules have to depend on your properties. For example, there’s no point posting rules for using the pool if your property doesn’t have a pool. Also, it’s up to you to determine what are appropriate fines. Just remember to charge more for more serious items. And, it’s not wise to threaten eviction for the first violation. I can’t speak for the whole country, but New Hampshire is experiencing relatively high vacancy rates and so we have to love our tenants a bit more at this time.

I’m planning to put updated rules documents on my web site fairly soon, but in the meantime, here are some useful guidelines for rules.

Fire Safety

The following should not be allowed tampering with smoke detectors, non-electric space heaters, fireworks, or any open flame other than a gas stove installed by the landlord or candles in holders, damaged electrical equipment. You can order any tenant’s appliance or equipment removed if you deem it unsafe.

Trash and Sanitation

If you have dumpsters, the dumpster company will let you know what is allowed. If you have trash pickup, the city will let you know. Tenants must keep trash in closed bags inside barrels with secure lids. If there is curbside trash pickup, tenants must put out barrels after a certain time and bring them back by a certain time. The city may mandate a certain type of trash bag. Impose a separate fine for each separate item of trash (e.g. bag, box or whatever) which you have to take care of because the tenant blew it - plus whatever you are charged.

One problem with this is it can be hard to tell whose trash is left out on the sidewalk. Make your best guess and wait for denials. i would be very interested to hear how other landlords “assign” trash.

Parking Lots

Designate specific spaces for each tenant. The only things allowed in parking lots are registered motor vehicles (cars, trucks or motorcycles) or registered trailers. Limit maintenance to these specific items interior cleaning, replacement of small parts such as lightbulbs, adding of fluids such as oil or antifreeze, changing of tires. Do not allow oil changes. Do not allow any use of unregistered motor vehicles such as minibikes, scooters or ATVs.

Keys

Do not allow tenants to make copies of keys. You can order key blanks which are marked with do not duplicate and a serial number. Record the serial number when you give the keys to the tenant (typically one set of keys for each person who signed the lease). It may be appropriate to offer the tenant additional keys at the start of tenancy for a small fee.

Common areas

If you have common lawns, tenants can use them for outdoor activities, but cannot leave anything on the lawns overnight. The following are not allowed: fireworks, cooking, weapons, alcoholic beverages. You may want to allow alcoholic beverages outside in case of a scheduled social event where the tenant asks your permission ahead of time. All trash must be removed by the end of the event. Do not permit any use which would prevent other residents from using the space at the same time that is, anything that would block off an area.

Common area activity is not permitted outside of certain hours (which you may extend on weekends). Designate which areas are not unit interiors, but are also not common areas (decks and porches, for example). Activity in those areas may still be prohibited after a certain hour.

Pet policies deserve a book of their own, but obviously pet waste must be cleaned up by the tenant immediately, pets can’t be left outside unsupervised and pets can’t be outside even with the tenant unless they are on a leash. The simple answer is obviously to ban pets, but this will also really limit your prospective tenants.

Guests

Tenants are responsible for the conduct of their guests. If the guest of a tenant violates a rule, the fine or penalty will be owed by the tenant. Any guest who threatens or endangers other tenants will be permanently banned from the property.

Overnight guests

Overnight guests are only permitted for a few nights per month (this is up to you, but I would suggest a maximum of four nights) and one or two consecutive nights. If the tenant has an overnight guest he wishes to have stay longer, he can negotiate the matter with you.

Maintenance

Tenants must let you know immediately when they have a maintenance issue. Impose a fine for late notices. Typically you will not allow any tenant to perform his own maintenance (including painting and small repairs using tools). You should not ever allow a tenant to perform maintenance on another tenants unit, unless a) the first tenant is a licensed contractor working in his field and b) you have a separate arrangement with the tenant to perform the work.

At the same time, tenants are required to keep their units neat and tidy. Any trash must be bagged and in a barrel with a lid and removed from the unit at the next possible opportunity. Entrances may not be blocked.

Social behavior

Any threatening or criminal activity is obviously banned. Tenants are not allowed to put any signs or notices on the exterior of their units. Solicitation is not allowed. Tenants may not enter another tenants unit (including porches, steps or decks) without the other tenants permission. Even within units, noises above a conversational level are not allowed after a certain time.

It is the tenants responsibility to let you know about rules violations, but not to address those violations themselves (by confronting another tenant, for example). You want your tenants to be informants, not police.

In preparing your list of rules, you should also consider appropriate penalties. A very few types of violations will be cause for eviction. These include safety matters such as open flames inside units, as well as criminal or threatening behavior. Otherwise, you should impose a system of fines, with second offenses commanding higher fines. Charge more for safety and sanitation issues than for convenience violations. The penalties as well as the rules must be either in your lease, or referenced in your lease. Include that more than a certain number of violations in a month will be cause for eviction.

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By Request, Here are my Tenant Rules!

Balanced Bowie Might Have Its Best Shot Yet

2008-10-07T11:05:00.049-07:00

Bowie (6-0) has won the Maryland 4A South Region boys' title the past two seasons, but has been unable to advance to a state championship, losing both times in the 4A semifinals.

I Am Not A Fan Of Bad Behavior

2008-10-07T11:05:00.047-07:00

I think the hissy fit put on our congress was truly bad behavior by Wall Street - banks included. We heard the stories of lines of credit shutting down. We heard about the impending doom. I believe it was a massive hissy fit by those who sold us the bill of goods.I disagree with those [...]

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[Source: RealEstateUndressed]

I Told You So!

2008-10-07T11:05:00.045-07:00

Brandon Wendell reminds his audience of his words back in April, and how they have come true today.

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[Source: Online Trading Academy's Lessons from the Pros]

Eight-Day Stretch Will Test Gonzaga

2008-10-07T11:05:00.043-07:00

Over the next eight days, No. 1 Gonzaga (8-0) will be tested three times against top-notch opponents. Should they win all three games, the Eagles could be ranked among the country's top teams by the National Soccer Coaches Association of America.

Meeker and Weaker

2008-10-07T11:05:00.041-07:00

Even Mr. Bear here is stunned how shortlived the, errr, rally was...

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[Source: Free Daily Swing and Day Trading Stock Picks - Stock Charts - Education]

Has the Brain Obesity Riddle been Solved?

2008-10-07T11:05:00.039-07:00

A compelling study has been released that supposedly uncovers the brain pathway responsible for obesity. Once again, inflammation seems to be right in the thick of things. The findings, published in the journal Cell, point to a potentially revolutionary way to fight obesity...or maybe not. Let's see what all the fuss is about....

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[Source: Diet Blog]

For How Long Is Your Mortgage Rate Quote "Good"? Try 3 Hours and 51 Minutes.

2008-10-07T11:05:00.037-07:00

Exhibit A: Wall Street investors are making life difficult for mortgage rate shoppers. It used to be that mortgage lenders issued pricing on a Monday morning and those rates were good for the entire week. Rate shopping was easy back then because everybody could take their time. Today, not so much....

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

Fannie Mae's Last Act : New Loan Fees And Maximum Property Restrictions For Real Estate Investors

2008-10-07T11:05:00.035-07:00

For owners of investment properties, the mortgage market is getting ugly. In its last act as a semi-private company, Fannie Mae updated its lending guidelines Friday, this time slapping new restrictions and additional fees on income-producing properties. The most impactful change is Fannie Mae's...

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

The Fed Funds Rate Is Predicted To Fall To 0.750 Percent by October 29, 2008

2008-10-07T11:05:00.033-07:00

While Wall Street sells off and Congress implements the Bailout Bill, Wall Street players are changing their expectations for the Fed Funds Rate going forward. Thing is, there's a complete uncertainty about what the Fed is going to do. In fact, there's a complete uncertainty about everything and...

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

Bankrate.com Mortgage Trend Index (September 11, 2008)

2008-10-07T11:05:00.031-07:00

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. As a reminder: The survey is for conforming loans only. Send me email for personal purchase or refinance questions. I twitter market updates a few times daily. Get them on your mobile....

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

Bankrate.com Mortgage Trend Index (September 4, 2008)

2008-10-07T11:05:00.029-07:00

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. As a reminder: The survey is for conforming loans only. Send me email for personal purchase or refinance questions. I twitter market updates a few times daily. Get them on your mobile....

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

What To Do When Your Mortgage Lender Goes Out Of Business

2008-10-07T11:05:00.027-07:00

Today's lesson from the Washington Mutual's seizure comes in the form of a haiku: Mortgage guys "retire" and never tell their clients, who then miss rate dips. Story goes like this, folks. Mortgage guys are leaving the business in droves. Some leave because their company failed, but many more leave...

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

More hotels spruce up breakfast offerings

2008-10-07T11:05:00.025-07:00

A growing number of hotels, particularly upscale ones, are treating breakfast like dinner, offering gourmet specials in addition ...

A Post of Appeasement

2008-10-07T11:05:00.023-07:00

I’ve been about as busy as a human being can handle over the past month or so, logging more airline miles than I care to count for business, multiple weddings as well as visiting family I haven’t seen in 8 months (my mom was pretty pissed). As is the case with being busy doing ‘real

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[Source: The XBroker]

REVIEW: Adobe Lightroom 2.0 - Mac

2008-10-07T11:05:00.021-07:00

Will this help manage your photos?

Adobe has updated its image catalogue and basic photo editing package designed for professional photographers to version 2.0, but is the upgrade worth the bother? We get editing to find out.

Read Adobe Lightroom 2.0 - Mac on Pocket-lint

Explaining What The Government's Takeover Of Fannie Mae and Freddie Mac Means To Mortgage Rates (In 265 Words)

2008-10-07T11:05:00.019-07:00

Sunday, the government announced that it will takeover Fannie Mae and Freddie Mac and assume their respective operations. Mortgage-backed debt is now government debt. But for all the front page stories today, there's suprisingly little coverage about how the news impacts homeowners in need of a...

Read the full post at http://www.themortgagereports.com

Read More...

[Source: The Mortgage Reports Blog]

How To Plan Ahead For The New, Lower Conforming Mortgage Loan Limits in 2009

2008-10-07T11:05:00.017-07:00

Conforming mortgages are limited by loan size, based on average housing costs around the country. Since 1980, as home prices have increased, so have conforming loan limits. The current conforming loan limit on a single-family home is $417,000. Earlier this year, as part of the Economic Stimulus Act...

Read the full post at http://www.themortgagereports.com

Read More...

[Source: The Mortgage Reports Blog]

Do You Eat Too Fast?

2008-10-07T11:05:00.015-07:00

One tip that most of us could use to boost our health efforts is to eat slowly. If you were ever told off as a child for gobbling your food, or not for chewing properly, then you were being given good advice - there's a lot of benefits from taking your time over a meal......

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[Source: Diet Blog]

Yet Another Black Monday on Wall Street

2008-10-07T11:05:00.013-07:00

Talking about Wall Streets most recent ‘Black Monday’ over at the Genius Bar…Blood in the streets folks, watch your step…aYet Another ‘Black Monday’ on Wall Street

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[Source: The XBroker]

WEBCASTModels and Mayhem: The Current Financial Crisis a discussion with Professors Hu, McGarity, Rodriguez, and Westbrook

2008-10-07T11:05:00.011-07:00

Beloware severalUniversity Professors opinions and detailed explanations about the current financial situation. Many here in the South Sound are concerned and affected by the current financial situation and we like to keep our clients, friends and neighbors informed. Found on South Sound Properties Undressed by DeeDee Arena October1, 2008On Monday, September 29, 2008, The University [...]

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[Source: RealEstateUndressed]

Rehab Home Loan

2008-10-07T11:05:00.009-07:00

Rehab home loans are a means of refinancing a house to get cash out and to do extensive repairs to the home, thereby improving the property value.

Bonus Photo Of The Week - From Zillow & Flickrs Ming chai

2008-10-07T11:05:00.007-07:00

Found on my reader from Zillow - Thanks Leslie, she writes:(Photo courtesy of Flickrs Ming chai)Since its October 1 today, we thought it would be fun to showcasethe color that is synonymous with the month of October orange.Itsnot just forpumpkins anymore. When it comes to home dcor,orange is hot!

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[Source: RealEstateUndressed]

Dont call it a bailout. Or a depression

2008-10-07T11:05:00.005-07:00

Posted by Ally May. Read the full interesting Article On Sonomo Napa Homes UndressedCommentary: The nattering nabobs of negativism have it wrong. Heres whyBy Irwin Kellner, MarketWatchLast update: 10:41 p.m. EDT Sept. 28, 2008Comments: 657PORT WASHINGTON, N.Y. (MarketWatch) We are nowhere near a depression, so lets stop talking ourselves into one.Spiro Agnews words of [...]

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[Source: RealEstateUndressed]

Signs That The U.S. Foreclosure Rate May Be Cresting

2008-10-07T11:05:00.003-07:00

RealtyTrac released its foreclosure data for August 2008, its headline reading in the usual Armageddon-like style: FORECLOSURE ACTIVITY INCREASES 12 PERCENT IN AUGUST Activity Up 27 Percent From August 2007 But, as is also typical, the news isn't nearly as dire as the headline would make us...

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

In Memory of Sheila Lublin

2008-10-07T11:05:00.001-07:00

My heartfelt condolences to Bill and the rest of Sheila’s friends and family.From The Phoenix Real Estate Guy, Jay Thompson:Some of us are chipping in money to help Bill and his son get through the next few days by setting up food deliveries from local Philadelphia area restaurants/delis. If youd like to contribute, you can

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[Source: The XBroker]

Saudi inflation rises to 11.1% in July

2008-09-01T07:37:00.001-07:00

Annual inflation in Saudi Arabia accelerated to 11.1 percent in July, its highest level in at least 30 years, due mainly to increases in food and housing costs, official data showed on Monday. The cost of living index for the largest Arab economy hit 117.3 points on July 31 compared with 105.6 points a year earlier, the Central Department of Statistics said in a statement.
Click here to display full article

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[Source: Business News]

ISODA committee to give shape to association

2008-09-01T04:37:00.025-07:00

... The managerial council of Indian Software Dealers Association (ISODA), the first ever software ... the first ever software dealers' association in India, will be meeting on September 10 in ... collaborate with channel partners in the software market across India. We are also looking for ...

Read More...

[Source: EIN News: India Software News]

This Report Analyzes the Gold Industry of China in Context of Global Industry, 2008

2008-09-01T04:37:00.023-07:00

... China has a strong position in gold industry in terms of consumption too. Gold demand ... the world's second-largest retail jewellery market after India. -Transformation in the gold industry of China ... historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect ...

Read More...

[Source: EIN News: India Software News]

California Software planning expansion in Britain

2008-09-01T04:37:00.021-07:00

... box and submit. "> Chennai: Chennai based software firm California Software(Calsoft) is planning acquisitions to ... percent of its revenues from enterprise solutions business in Britain. Calsoft has already identified a ... headcount of 30-50, both in Britain and India. ...

Read More...

[Source: EIN News: India Software News]

California Soft marginally gains

2008-09-01T04:37:00.019-07:00

... India Infoline News Service / Mumbai Sep 01, ... 01, 2008 15:19 At 15:19pm (IST), California Software has marginally gained by 0.3% to Rs73.9. ... gained by 0.3% to Rs73.9 after the company announced that it inaugurated its new state-of-the-art ...

Read More...

[Source: EIN News: India Software News]

AMD to certify SIs in East

2008-09-01T04:37:00.017-07:00

... the country are able to increase their business. The strategy is to transform their businesses ... have seen that the Internet users in India account for only three percent of the ... been set-up to ensure that their proprietary software such as the Gram Panchayat Management System, ...

Read More...

[Source: EIN News: India Software News]

Technology Briefs | CBS unveils CNET Web-site redesign

2008-09-01T04:37:00.015-07:00

... stable of TV and radio stations. News Corp.'s Fox network overtook CBS in total viewers ... East by November. The PCs include free software and pared-down technology, making them more affordable, ... 500, was initially sold in China and India. IBM's database sales advanced at a slower ...

Read More...

[Source: EIN News: India Software News]

Commvault to empower India channel

2008-09-01T04:37:00.013-07:00

... establish a strong ground in the Indian market within a year, Commvault, a data and ... year, Commvault, a data and information management software developer, is in the process of strengthening ... meet. Commenting on the strategies that the company has adopted in order to create visibility ...

Read More...

[Source: EIN News: India Software News]

Userful plans Indian entry

2008-09-01T04:37:00.011-07:00

... Userful, a Calgary-based software company that has helped its customers cut ... an investment to green the world's computer industry from Calgary-based AVAC, a non-profit organization that ... reason for the huge business potential in India for Userful. There are many people in ...

Read More...

[Source: EIN News: India Software News]

The Digital War on Poverty

2008-09-01T04:37:00.009-07:00

... penetration in poor countries is rising sharply. India has around 300 million subscribers, with subscriptions ... family and friends. India, home to world-leading software engineers, high-tech companies, and a vast and ... pioneer of digital-led economic development. Government and business have increasingly teamed up in public-private partnerships ...

Read More...

[Source: EIN News: India Software News]

'Global Specialty Stores' - Out Now

2008-09-01T04:37:00.007-07:00

... to their offering. Datamonitors Global Specialty Stores industry profile is an essential resource for top-level ... supplies, and toys and games (excluding computer software). Market values are calculated at retail selling ... the UK. Asia-Pacific comprises Australia, China, Japan, India, Singapore, South Korea and Taiwan. The global ...

Read More...

[Source: EIN News: India Software News]

Out Now - Indian Mutual Fund Industry

2008-09-01T04:37:00.005-07:00

... to their offering. The Indian mutual funds industry is witnessing a rapid growth as a ... income, and increasing awareness, mutual funds in India are becoming a preferred investment option compared ... historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect ...

Read More...

[Source: EIN News: India Software News]

REVIEW: Corel CorelDRAW X4 - PC

2008-09-01T04:37:00.003-07:00

Will this challenge Adobe?

CorelDRAW X4 is a comprehensive package that allows for vector illustration, page layout, photo-editing and image tracing. This latest version builds on the success of the previous 13 editions but isn't so much a re-invention, more a steady progression.

Read Corel CorelDRAW X4 - PC on Pocket-lint

Active Duty Military Loans

2008-09-01T04:37:00.001-07:00

Active duty military loans are ones that are offered to those men and women who are busily serving in the Armed Forces.

IDS software ties up with Value Plus Software

2008-08-31T22:36:00.001-07:00

... IDS SOFTWARES Pvt Ltd (IDS), global leader in providing ... the ultimate solution to the fast-growing hospitality industry in Nigeria. Never in history has any ... The company’s Global R&D Centre at Bangalore, India, offers support to its customers 24x7x365. ...

Read More...

[Source: EIN News: India Software News]

REVIEW: Webroot Secure Backup - PC software

2008-08-31T19:35:00.001-07:00

Can this offer anything different?

Online storage seems to be a growth area - we recently reviewed Bullguard Backup 8 and liked it - now we have Webroot with its Secure Backup.

Read Webroot Secure Backup PC software on Pocket-lint

Change

2008-08-31T16:35:00.035-07:00

Posted by Jim Warner on Lynwood Undressed… Click to see Jims Full PerspectiveAs I survey the current real estate landscape I cant help but be fascinated by how people are and in many cases arent adapting to the new rules of the game.Surely as Sellers have come to find that positive equity is no longer [...]

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[Source: RealEstateUndressed]

Who is Better for the Real Estate Market: McCain or Obama?

2008-08-31T16:35:00.033-07:00

Do you think that John McCain or Barack Obama has better policies for the real estate market?

I’m curious about how folks see the 2 major party presidential handling the real estate marketplace and I’m interested in starting a discussion taking into account, tax policy, monetary policy, and other factors. I don’t want to hear anything about McCain’s 7 houses or Obama’s deal from Rezko (I brought ‘em up so you don’t have to) . . . I want to start an intellectual dialogue based on policy.

Feel free to share your ideas here in the comments, or if you’ve got your own blog, write your thoughts and point to the post so we can discuss. We’ll link to any posts out there that take a serious, and hopefully, non-partisan look at these two gentlemen and their policies affecting the market.

Things to consider: capital gains tax, real estate tax, inflation, interest rates, dollar strength, leanings on regulation, position on Fannie/Freddie and bank bailouts, effects on investors, homeowners, real estate agents, lenders, etc.

I look forward to hearing all of your opinions, and I hope that everyone is mature enough to stick to the topic at hand!

Advertisement: Tennessee Rental Property Memphis, TN Foreclosures For Sale 901-725-6825

Who is Better for the Real Estate Market: McCain or Obama?

Why Do You Pay Those Awful Title Insurance Premiums?

2008-08-31T16:35:00.031-07:00

Over the years I have heard a lot of moaning and groaning about the cost of title insurance. What good is it anyway?Like all insurance, it is only good when it pays off.Recently I have seen first hand an example where the title company did its job: Last fall about 50 condo purchasers moved into [...]

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[Source: RealEstateUndressed]

Doom and Gloom Media Good For Real Estate Investors

2008-08-31T16:35:00.029-07:00

The media reports of late are all “doom and gloom” focusing on foreclosure numbers, price declines, and inventory levels. One might start believing real estate as an investment class is a bad pick and could stay that way for a long time.

Don’t believe it for a second…but before I make my case, let’s start with a Warren Buffet quote,

“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”

Everyone is “fearful” of real estate investing right now. Buffet is saying, “Now’s the time to get greedy…and buy.” So the more reports the media prints about the “worst real estate market since the Great Depression” the better it is for real estate investors.

The time to be afraid was back when every idiot with a Charlton Sheets DVD under his arm could get a a stated income loan to buy his first investment home with nothing down. Without fear and overflowing with greed, they plunged into the real estate investment world driving up prices due to the irrational belief the real estate market was bullet-proof.

Today even with the negative media reports, one can find data to support a return to real estate as an investment:

The foreclosure crisis has been contained now to about 4 states, California, Nevada, Arizona and Florida. We couldn’t say that a year ago.
The Case-Shiller housing price index is showing month over month price growth in about half of the 20 cities it covers.
The rental prices in most cities (the underlying real value of a real estate investment) is climbing.
Inflation in our future is about the only thing economists can agree on right now and we all know what happens to rents and home value during an inflationary economy.

So, get out there and buy…get greedy while everyone else sits in the corner scared to death.

You’d better hurry or I’ll beat you to it!

Advertisement: Tennessee Rental Property Memphis, TN Foreclosures For Sale 901-725-6825

“Doom and Gloom” Media Good For Real Estate Investors

What Is A "Conforming Mortgage"?

2008-08-31T16:35:00.027-07:00

Lately, Fannie Mae and Freddie Mac have been in the news every day as economists and lawmakers question the future of conforming mortgages. But among everyday Americans, a more common question is: "What is a conforming mortgage?" A conforming mortgage is one that adheres to the mortgage guidelines...

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

A gin and tonic and a cry of 'Let's get relaxed' How Dad dealt with a political crisis, by Carol Thatcher

2008-08-31T16:35:00.025-07:00

... Dad was just as busy at work, travelling to South Africa for the month of ... drafts in her suite at the Imperial Hotel, a process that stopped only when my ... Heads of Government Meeting was held in India. Dad found it a tense experience, particularly ...

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[Source: EIN News: India Hotels & Accommodation News]

Exxon Shareholders Suffer Windfall Loss of 13.7

2008-08-31T16:35:00.023-07:00

Exxons record profits and its possible windfall profits have received a lot of...

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[Source: Free Daily Swing and Day Trading Stock Picks - Stock Charts - Education]

Interview With First Business : New Fannie Mae and Freddie Mac Loan Fees

2008-08-31T16:35:00.021-07:00

I spoke with Beejal Patel of First Business last week on Fannie Mae and Freddie Mac's new mandatory loan fees. The story is especially timely because mortgage servicing data showed that a greater number of "prime" mortgages defaulted in July 2008 than sub-prime ones. Now, the data is somewhat...

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

9 Crucial Items That Should Be On Your Lease Option Checklist

2008-08-31T16:35:00.019-07:00

One of the 6,127 reasons that Im single is because I cant stand high maintenance women (this ones voluntary, so two out of 6,127 aint badIll get to the second voluntary reason in a minute). Anyways, right now Im working on a pretty house wholesale deal (wholesaling a house subject-to) and the seller is crazy high maintenance. This guy calls me multiple times a day Hi Jason, this is Mr. Seller, its 5:00, just wondering if youve found a buyerHi Jason its 5:05, just wondering, Hi, Jason its 5:07 This guy is also a talker which is why I have my assistant return the calls and handle almost everything. If you dont have an assistant I would get one ASAP. I got my first assistant before I could even afford one and it was well worth it. And when I say assistant, I mean virtual assistant. My latest assistant lives in Wisconsin and has been with me for almost two years. I have her make all my calls and she handles almost everything for me. Remember, us investors need to focus on high dollar activities, not making phone calls. (By the way, I found a buyer for this wholesale sub-2, and at closing I will be getting a nice $9,997 pay day).

Okay, the second reason Im single is because Im cheap. I just got back from a week in Florida. As I was packing for my trip, I stuffed all of my clothes in my old suitcase and I destroyed the zipper trying to get everything to fit (but I did get it closed). Then when I tried to unpack, I couldnt get the zipper open. Being that Im such a patient guy, I ended up teaching the bag a lesson, which means it ended up in a dumpster after I tore the zipper off and it was totally unusable. So, I needed a new piece of luggage and asked my friend to show me the closest Goodwill store. I ended up getting a beauty of a suitcase for $2.13. Its a Samsonite hard shell. Ive always wanted one of those hard shell pieces and $2.13 is right up my alley. I love Goodwill and the Salvation Army stores.

Alright folks, if youve been reading my posts you know that Im going through a lease option deal from A-Z. Last week was the paperwork needed between you and the seller and this week I am going over the checklist you need to follow after you have the paperwork signed. Here it is:

Make copies of all of the paperwork and either mail it to the seller or scan and email a copy to the seller.
Make copies of all keys (so you have a key and so you can also put a key in the lock box on the house).
Fax or mail the lender notification to the mortgage company so they send all of the coupons and mortgage info to your address.
Run a credit check on the seller. Since lease options are more risky, you need to make sure the seller is not in a dangerous financial situation (if they are, do a subject-to).
Fax the authorization to release form to the mortgage company and check the mortgage balance and the monthly payment amounts.
Send a thank you gift and card to the seller. (I usually send a gift certificate to a restaurant).
Go to the courthouse and record the option agreement. This should cost between $20.00-$50.00.
Start marketing the property to find a tenant buyer. Place a sign in the front yard, run classified ads in the local paper and post ads on Craigslist.
Set up your Excel spreadsheets, Word documents and folders for this property.

There you have it, my million dollar checklist. Next week, I will go over the paperwork for a tenant/buyer. I certainly hope that you are writing down all this information on lease options, because you are getting no B.S. info that took me thousands of dollars to perfect. Have a great week and remember to do at least one marketing activity every single day!

Advertisement: BiggerPockets Real Estate Social Network Join our real estate social network and connect with others in the business.

9 Crucial Items That Should Be On Your Lease Option Checklist

The Friend Of The Family Needs A Friend, Actually Many Friends

2008-08-31T16:35:00.017-07:00

When I first moved to Seattle the airwaves were hammered with the the slogan: Washington Mutual, Friend Of The Family.The Washington Mutual Tower in Seattle, WashingtonPrior to Indy Banks demise there was a significant hint to the market. A hint beside Chuck Schumers role. A similar event happened a few days ago regarding Washington Mutual.It [...]

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[Source: RealEstateUndressed]

A Tip From L J

2008-08-31T16:35:00.015-07:00

L J Kyser has been critical in the establishment of the Undressed Network. I love the way he is out front of what is happening or going to happen with technology. He gave me a new product tip last week that I want to share with you: Ubiquity.Click the photo link below, scroll down the [...]

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[Source: RealEstateUndressed]

Ummmm Good - Healthy Chocolate

2008-08-31T16:35:00.013-07:00

Chocolate - The magical fruit - Yes! Chocolate for improved health, and its afruit. Chocolate lovers will be delighted to know that we are now discovering the true extent of cocoas health benefits, particularly itsRead more…

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[Source: RealEstateUndressed]

Using Video in Your Real Estate Marketing

2008-08-31T16:35:00.011-07:00

Having commercial quality video that represents your business is a valuable animated brochure. Much like a traditional website the highly produced video is useful, but not nearly as much as the more scrappy on the fly production. Much like what...

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[Source: Real Estate Marketing Blog ]

Poor retail, rising wholesale prices prompt inflation concerns

2008-08-31T16:35:00.009-07:00

July wholesale data shows that inflation concerns are still fresh and should be at the top of the list of... Aug 20 2008 09:54AM BST

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[Source: Forex Rate - Currency News]

More Evidence That You Can't Use The 10-Year Treasury Note As A Gauge For Mortgage Rates

2008-08-31T16:35:00.007-07:00

For years, people unfamiliar with the mortgage industry have said that the government's 10-year treasury note is a reasonable proxy for mortgage rates. This is flat out wrong. The only security that matters to mortgage rates is the price of a mortgage-backed bond. The chart at right supports this...

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

Middle East and Africa server market continues to grow

2008-08-31T16:35:00.005-07:00

Sales of servers in the Middle East and Africa grew by 16% in the second quarter of this year, in comparison to the same period in 2007. This placed the region just behind Central and Eastern Europe in terms of growth. Industry analysts IDC reported that overall server market results in EMEA presented the highest growth since the first quarter of 2007 in factory revenue terms and since the third quarter of 2005 when looking at unit volumes, despite the overall slowing economy. The market grew by 9% year over year with shipments of servers reaching nearly 700,000. 95.5% of these shipments comprised x86 boxes.
Click here to display full article

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[Source: Business News]

Remember, Dont Bug Me On Saturday..

2008-08-31T16:35:00.003-07:00

Welcome to Saturdays famous Bugs Undressed: Yuk

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[Source: RealEstateUndressed]

Keep Your Option Trading Simple

2008-08-31T16:35:00.001-07:00

Sam Seiden discusses options strategies and how to simplify your plan.

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[Source: Online Trading Academy's Lessons from the Pros]

Why Economic Weakness In Europe Is Causing Mortgage Rates To Fall

2008-08-31T16:34:00.025-07:00

In the United States, tales of economic gloom in Europe barely register in our business newspapers let alone our local ones. But, for Americans in need of a mortgage, what happens economically across the Atlantic Ocean can have a big impact on mortgage rates here in the United States. It all comes...

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

Title Company Seeks To Pass The Buck

2008-08-31T16:34:00.023-07:00

Go blame Countrywide on everything. Last Week I posted about a positive title insurance event. Here is a case where the title company does not want to pay. Click here for a Chicago Tribune article.

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[Source: RealEstateUndressed]

New Home Sales Up; New Home Sales Down: A Real Estate Economy In Flux Makes Trends Hard To Define

2008-08-31T16:34:00.021-07:00

35.3 percent. By any measure, a staggering number. It is by how much new home sales have dropped from July 2007.

But we are in one of those wierd times when figures seemingly contradict one another and “trends” are hard to keep up with.

For example, while it is true that new home sales are down more than 35 percent since July 07, last July sales of new homes actually went up, though not much…2.4 percent, according to the Commerce Department.

Here’s the catch,though.

The National Association of Realtors, says the Associated Press, reports the “number of unsold properties hit an all-time high, an indication that the worst housing slump in decades is far from over.”

Why the confusion?

When things are in flux–especially the economy–it is not all that uncommon for “trends” to seemingly contradict one another. But that often has less to do with the reality of the situation than with the way in which we tend to see the world–in terms of black and white, rather than many shades of grey.

For instance, another new report just out–Standard & Poor’s/Case-Shiller U.S. National Home Price Index–shows that home prices dropped by the sharpest rate ever in the second quarter–15.4 percent during the period April to June, reports the A.P.’s economics writer Jeannine Aversa.

But, of course, it is this very drop in home prices that has brought about a mini-buying boom in parts of Southern California for people with excellent credit who are seeking and getting houses at relatively cheap prices. See what I mean about shades of grey?

Adding to this period of flux and uncertainty is the open question of what will eventually happen with Fannie Mae and Freddie Mac? Both have an enormous impact on mortgages and both, some fear, may soon be in dire need of the very government bailout they claimed only a few months back they didn’t want nor need.

What happens with Fannie and Freddie will , to a large measure, help define the housing situation in this country for some time to come…their fate is THAT important.

In the meantime, we all have to take headlines with a grain of salt…The headline of Monday will surely be challenged if not flat out contradicted by the headline of Tuesday…and on it goes.

Like I said, things are in flux. Uncertainty rules!

Advertisement: Real Estate Investing Forums Discuss real estate, network, or learn about investing on our forums!

New Home Sales Up; New Home Sales Down: A Real Estate Economy In Flux Makes Trends Hard To Define

Mortgage Commentary 8/28/2008:

2008-08-31T16:34:00.019-07:00

……………………………………………………………………………………………….Photo from Flickr and by woodleywonderworks……………………………………………………………..Thursdays bond market has opened in negative territory after this mornings GDP reading fueled a stock rally. The stock markets are showing gains with the Dow up 143 points and the Nasdaq up 19 points. The bond market is currently down 5/32, but we will still see a likely improvement [...]

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[Source: RealEstateUndressed]

Sorry Nehemiah You Had To Go

2008-08-31T16:34:00.017-07:00

Nehemiah as in down payment assistance program, not the the Nehemiah who lived back in the Persian Empire days. Nehemiah and other down payment programs were, in my opinion, what this country should not be about. FHA had a long standing policy to allow gifts from family members, employers, and charities. Charities I used to [...]

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[Source: RealEstateUndressed]

Bankrate.com Mortgage Trend Index (August 28, 2008)

2008-08-31T16:34:00.015-07:00

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. As a reminder: The survey is for conforming loans only. I welcome personal emails about purchase or refinance plans. I twitter market updates a few times daily. Follow me. Anyway, on...

Read the full post at http://www.themortgagereports.com

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[Source: The Mortgage Reports Blog]

What is My House Worth?

2008-08-31T16:34:00.013-07:00

Sellers: "What's my home worth?"Buyers: "What's for sale?"Both: "Hows the market?" Sales is always driven by emotions. And then the prospect justifies their decision with logic. You need that logic to push them over the edge. And I really like...

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[Source: Real Estate Marketing Blog ]

Obamas acceptance speech

2008-08-31T16:34:00.011-07:00

Barack Obama gave a fine speech at the Democratic National Convention on Thursday...

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[Source: Free Daily Swing and Day Trading Stock Picks - Stock Charts - Education]

Bankrate.com Mortgage Trend Index (August 21, 2008)

2008-08-31T16:34:00.009-07:00

Read More...

[Source: The Mortgage Reports Blog]

Shareasale Affiliate Video Widget is Ready

2008-08-31T16:34:00.007-07:00

The Affiliate piece of the Make-A-Video is complete and ready for use. As an Affiliate, you can now create and generate your own video creatives, and link them to multiple different Merchants throughout the video through the use of cue points.

Read More...

[Source: 5 Star Affiliate Marketing Blogs]

Taking Back the Peoples Money with PMS - Peoples Money System

2008-08-31T16:34:00.005-07:00

Today I roll out my PMS Peoples Money System. Forget the drum rolls and forget the fanfare because once PMS infects your soul, you will be a different person.

Before I get into the specifics, I think you should visit this page because the author not only lays out what is already in the mill on foreclosure lawsuits but also presents a solution to the problem. I thought you should know I am not the only solution oriented town crier on the boulevard.

When I reread my last weeks post, I noticed I left out an important piece of information. I say important because of its source and because it is germane to PMS. The Federal Reserve Bank of New York publishes a pamphlet titled, I Bet You Thought which contains the following revelation:

Money doesnt have to be intrinsically valuable, be issued by a government, or be in any special form.

The phrase, be issued by a government implies, in our case, Washington, D.C. If you are in the least bit familiar with the Constitution you know we the people granted Congress the authority to make our money. We never gave them the authority to delegate that power to a foreign entity or any entity for that matter.

That means, if I am correct, we can revoke their money creating power when we believe our best interest is not being served. But, you have heard these arguments before and not paid much attention for various reasons.

However, as you read this post your economic situation may have been altered and may be even radically changed for the worst. You now want a way out of your predicament and are willing to readdress the fact that you are the government. The folks in D.C. are called representatives because they are just that and nothing more.

Now it is time to revoke their misused power and start issuing our own currency. I hope you read the CAFR material as CAFR assets are what will back PMS. Theoretically, we will never deplete this collateral because the agencies fiscally operate under an annual budget and the CAFR is fed through the budget year after year after year.

We will also use for collateral the bonds every government office holder is supposed to have in place before he/she takes office. This one is a bit tricky as almost every level of government in existence today has formed risk management pools with one or more levels of government in one or more counties within their state.

We will get around this sleight of hand by simply using the bonds legislatively determined face amount as the true amount of collateral. Attaching this collateral and transforming it into PMS will be easy as every office holder has committed at least offense while serving.

This offense can be as minor as violating the open meeting laws. If we use Mike Nifong as an example of the most egregious type, the 3 people he wronged can use his entire amount as collateral behind their PMS certificates.

In fact, these will be very strong certificates because not only will his bond amount be attached but so will his paycheck, retirement account, bank account and any other asset he may own. My thoughts say even his medical policy can be attached.

Since I know you are intelligent, Ill move on with my PMS as you can figure out how to utilize our representatives collateral as PMS. You attach it and make it yours by filing a UCC-1 (or maybe another type of document) against that or those public figure(s) who have committed transgression(s) against you.

You not only file against their bond but their paycheck, retirement account, home, car and everything else they own. Remember they are public figures. Violation of their fiduciary duty as delineated in their oath of office to their principals (you and me) makes everything they own subject to attachment.

Note: For those wanting a short course on principal/agent relationship, please read that particular section in the California Codes. CA does a great job of laying it out for an easy read.

Lets look at your paycheck and convert it into PMS. This deposit is a deposit of credit and not of cash. It is done electronically therefore no one ever sees any cash. Some people never use cash as they operate under a full credit, non-cash, type system.

They write checks use their credit or debit cards and if any cash falls into their hands it is residual as a result of a transaction in which they got cash back. Yes, I know, everyone else writes a check in order to obtain cash.

Thats wonderful because nothing will change under PMS. You can write a check so you have some PMS in your pocket just like you do now. Or, you can be on a complete PMS free system and write checks to pay bills and buy goods, food and trinkets.

Your balance at the bank wont change. If your company deposits $3000 a month, it will still deposit $3000 a month. The only difference is the $3000 will be PMS units and not FRN units.

The PMS units will be backed by real assets. The PMS will have real value and not contrived value.

How do we convert your FRNs into PMS units? Easy, we simply translate your present deposits in all of your accounts into PMS units on a one for one basis. If you have $2,000,000 in your account, it will be $2,000,000 PMS. One for one.

What will be the office that does the bookkeeping to be sure only real PMS units are circulating? Another easy answer. Your present banking/financial institution with the present Federal Reserve functioning only as the national bookkeeper.

Who will print the PMS certificates? The same printer who prints the FRNs.

What will it look like? Pictures of dead presidents can adorn PMS certificates since we seem to like that style of bill. The PMS will also have numerical denominations so we will know what amount we are receiving.

Will it be accepted? Are you kidding, of course it wont be but it is a great system that will re-introduce true value into the nations monetary system.

Maybe the real benefit is it will not only reduce the Federal Reserve to bookkeeper (its only role in my opinion) but make it the guardian of the peoples assets. This behemoth of an agency has enjoyed a free ride for too long and now should be harnessed to execute the type of manual labor it truly was designed to perform.

Are there some holes in my proposal? A few but none that cant be worked out by some talented finance/economic oriented minds populating our universities and think tanks. Heck, I hope some BP members step up and run with it.

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Taking Back the People’s Money with PMS - “People’s Money System”

Obsessive Compulsive ADHD Affiliate Strategy

2008-08-31T16:34:00.003-07:00

Im an impulsive obsessive compulsive with ADD. Get an idea in my head and jump on it. Then all of a sudden, I get bored or get another idea and jump on it. This is a very bad combination if you want to be an affiliate marketer.

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[Source: 5 Star Affiliate Marketing Blogs]

friday update

2008-08-31T16:34:00.001-07:00

SHORT TERM: rally fizzles to end the month, DOW 171 Overnight the Asian markets...

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[Source: Free Daily Swing and Day Trading Stock Picks - Stock Charts - Education]

Pat Kitano on Social Media Podcast

2008-08-19T03:29:00.031-07:00

Pat Kitano joins me for a lively discussion on the many uses of Social Media and web 2.0 for real estate.

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[Source: Real Estate Marketing Blog ]

Municipal Building Inspector: Friend or Foe?

2008-08-19T03:29:00.029-07:00

It’s 10am, do you know where your building inspector is? You certainly know where he isn’t, he isn’t approving the most recent work so that you can move on with your project. Your inspection was scheduled for first thing in the morning and the inspector finally shows up near the end of the day. On the one hand you want to yell, scream and complain, on the other hand you know that you need him to sign off on the work so that you can proceed. Outwardly you are respectful and cordial, inside you are seething and thinking, “next time I’m doing this without permits!”

Do I Really Need Permits?

It’s very tempting to do renovations without pulling permits. You can save time, money and a big hassle, but at what cost? The primary reason that municipalities require permits is so that they can be sure that work is performed to acceptable standards and that it meets all building codes. The codes are created to set minimum standards for safety and appearance. These standards give home buyers a reasonable level of assurance that a home is safe for them to live in.

A lot of cosmetic work can be done without permits. Installing new carpets, painting and simple changes do not normally require any kind of approval. Major renovations involving plumbing, electric, foundations, extensions etc. almost always will. A good starting point is the local building department. They can give you an idea of what the local requirements are. When in doubt, give them a call.

We Don’t Need No Stinkin Permits!

When working with contractors you need to be careful. If they tell you that they don’t need permits to do the project you should check to be sure. It could be that they are unlicensed or they may be looking to cut corners. Be especially wary if they say that you can save money by not pulling permits, you may end up paying a lot more in the end.

The building inspector will check a contractor’s work to be sure that it is up to par. If the work is shoddy it will fail inspection. This is a case where an inspector can save you a lot of trouble. If the work fails inspection the contractor will have to make it right andthey should be the ones bearing the cost for any corrections that need to be made.

Big City vs. Small Town

When working with a building department in a large city you a probably dealing with a bureaucracy and may not see the same inspector twice. In a small town the local inspector may be the entire building department. You need to adapt to whatever the situation is. In a large city you want to develop a good reputation so that inspectors know that you are easy to deal with. In a small town you need to make the inspector your friend. Making an enemy of a small town inspector can be the kiss of death for your business as can a bad reputation in a big city.

Permits, inspectors and inspections can be a big hassle. However, they are a part of the business and learning to deal with them can make your life a lot easier.

Tact is the ability to describe others as they see themselves. - Abraham Lincoln

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Municipal Building Inspector: Friend or Foe?

My Wife And Daughters Have Recently Read The Book, The Last Lecture.

2008-08-19T03:29:00.027-07:00

Have you read the last lecture by recently deceased Randy Pausch? Join me in this quick read.What would you last lecture say if you were confronted with certain death in a few months?

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[Source: RealEstateUndressed]