Monday, January 31, 2011

Banks still Playing-Extend and Pretend!

How many more years will the Banks and the Government keep playing this loosing game?



The longer this hopeless strategy continues-The longer it will take for the Housing market to even think about recovering. So much personal wealth has been lost to this point that the only logical thing to do is;



1. Stop trying to help everybody stay in a home that they couldn't afford to own in the first place!.

2. Let the free market and those in it-Fix It!

3. Start helping those Home Owners who have been faithfully paying their mortgages on time even though they owe more than their home is worth!

4. Stop using Tax Payer dollars to pay for all the useless mortgage modification programs being offered to home owners who are now back in default!



It's very clear to me and most people that the Governments involvement in trying to support the housing/real estate market has failed miserably. It's time to admit defeat and let the pros on the street and the market start fixing this mess!

Amplify’d from www.housingwire.com
RealtyTrac's Sharga: Banks still holding 70% of REO from market

RealtyTrac Senior Vice President Rick Sharga said major banks currently hold roughly 1 million REO, or homes repossessed through foreclosure, but only 30% have actually made it onto the market.

According to its year-end report, foreclosure filings reached a new high in 2010 and should climb even higher this year, possibly surpassing 4 million filings. And that's not counting the more than 5 million delinquent loans that have yet to enter the initial stages of the foreclosure process, Sharga said.

Read more at www.housingwire.com
 

Wells Fargo and Quicken Loans getting back in the game!

Sounds good on the surface but in reality, it's nothing more than just lowering their previous In-house standards put in place after the financial collapse, to conforming now with existing FHA loan requirements.



The bottom line is; You're still going to need a high FICO score and a bigger down payment to get a excellent mortgage interest rate. One of the things they fail to mention in this announcement!!

Amplify’d from www.inman.com

FICOs and FHA: 2 big lenders loosen up

With no fanfare or public announcements, two of the largest FHA-approved lenders have backed off their controversial "overlay" requirements on FICO scores (lender overlays are qualification requirements that can be more stringent than FHA's own requirements).

Read more at www.inman.com
 

Saturday, January 29, 2011

Home of The Steelers For Cryin Out Loud!!!

For all my Pa. facebook friends!

Amplify’d from www.pamil-visions.net

Flintstones Run Pittsburgh Real Estate

I know, you are thinking; “Oh no, here it comes!” Well, you are right. Searching for one listing, one photo of a suitable to talk about, one plug for a worthy agent in Pennsylvania’s second largest city – home of the Pittsburgh Steelers for crying out loud – and emptiness? Folks, I am not the world’s greatest Internet searcher – but he talks to me. Empty handed even to do a kind deed for Pittsburgh?

Read more at www.pamil-visions.net
 

Friday, January 28, 2011

Financial Crisis Was Avoidable!

Money and Greed! Two things required to Guarantee Failure! The Wall Street Saga continues on today however. Only this time, with the help and support of the American Tax Payer!

Amplify’d from www.dsnews.com


Federal Inquiry Concludes "Crisis Was Avoidable"

As the commission’s report went to print, its members note that there are more than 26 million Americans who are out of work, four million families who have lost their homes to foreclosure, another four and a half million families in the midst of a foreclosure or seriously delinquent on their mortgage payments, and nearly $11 trillion in household wealth that has simply vanished.

Read more at www.dsnews.com
 

Thursday, January 27, 2011

HAMP GET ANOTHER FAILING GRADE!

Just like so many other Federal Government, Bail-Out Programs-This one was doomed from the start! Now it's a damned if you do-damned if you don't situation and the Tax Payer is picking up the tap. Will the Madness never end?

Amplify’d from www.dsnews.com


TARP Special Inspector General's Report Says HAMP is Failing

HAMP, Barofsky says in the report, “continues to fall dramatically short of any meaningful standard of success.”

“…the so-called Home Affordable Modification Program yet again gets a failing grade,” he said. “What will it take for the Treasury to realize that serious changes must be made to this program? Homeowners are hurting and this program continues to do more harm than good.”

Read more at www.dsnews.com
 

TARP Special Inspector General's Report Says HAMP is Failing

TARP Special Inspector General's Report Says HAMP is Failing

Tuesday, January 25, 2011

Households Unprepared for Retirement After Recession Rise 4%-14% | Advisor One

Households Unprepared for Retirement After Recession Rise 4%-14% | Advisor One

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Amplify’d from www.dsnews.com


Index of Distressed Property Sales Surges in December: Report

Sales of distressed properties surged in December as many banks resumed foreclosures following the suspensions prompted by robo-signing issues last fall, according to an industry study conducted by Campbell Surveys.

According to the company’s latest study, in the foreclosure-ridden state of California, 66 percent of all transactions tracked in December involved distressed properties. The combined area of Arizona and Nevada similarly suffered, with 62 percent of transactions being distressed.

Read more at www.dsnews.com
 

Sunday, January 23, 2011

GO STEELERS!!!

Steelers fans
"With the Steelers in their 77th year,
Ben is #7 in his 7th season,
They beat the ravens for the 7th time by 7 points,
I say it’s our year for Superbowl win #7".
And…
The Conference Championship game is being played on Myron Cope’s Birthday!!!
Read more at bl112w.blu112.mail.live.com
 

Friday, January 21, 2011

Thursday, January 20, 2011

Multi-Family Housing in Spotlight for 2011-2012

Amplify’d from www.costar.com

Break Out the Shovels: Major Ramp-Up In Apartment Development Expected in 2011

More Multifamily Projects Expected To Come Out of the Ground In 2011-12, but Not All Markets Ripe for Developers








Emboldened by favorable demographic trends, improving supply/demand metrics and lower construction costs, apartment developers are eager to start replenishing their development pipelines.
Read more at www.costar.com
 

Friday, January 14, 2011

Untitled

Amplify’d from www.nuwireinvestor.com

Housing Prices Face Potential Of Double Digit Decline In 2011







US housing faces a double digit drop in 2011, with performance varying by region, and real progress at least a couple years away. The road to recovery for commercial real estate  has been especially bumpy, but offers are starting to close in on asking prices. See the following article from Property Wire for more on this.
Read more at www.nuwireinvestor.com
 

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Amplify’d from www.freeerisa.com
Senior financial planners are key to a successful retirement, especially since Americans are increasingly reaching the age of retirement without the funds to do so comfortably

BOSTON, Jan. 13, 2011 /PRNewswire via COMTEX/ --
With the baby boomer generation nearing retirement age, independent financial planners are in high demand. These advisors are much like other professionals in the field; however, they generally specialize in the fiscal situations, needs and services that are unique to senior citizens. More often, people are nearing retirement age without the proper savings. Senior financial planners insist that is it never too late to seek advice to develop a strategy of money management.

Read more at www.freeerisa.com