War Declared On Real Estate Agents By Prior Lake, Minnesota

Prior Lake, Minnesota declared war on real estate agents on August 21st, by enforcing a sign ordinance law that hasn’t been enforced in years that prevents the posting of signs promoting real estate listings, open houses, garage sales, etc.  Sign ordinances like this hit real estate agents the hardest.  What better time to start enforcing than during a slumping real estate market.  Continue reading

Voyeurs Invade Open Houses In New York City

image created by Naito8, provided courtesy of FreeDigitalPhotos.net

Rather than being a buyer’s market or seller’s market in New York, open houses are attracting the voyeur market.  Looking at real estate listings has become a spectator’s sport to see what the Joneses are up to.  Almost half of the people going to open houses in New York are there to rummage in the closets, scarf down the free Hors d’œuvres, and look for decorating tips, according to a survey reported in The New York Post.  Continue reading

The Homeless Are Coming To YOUR Neighborhood

Homelessness is a horrible issue that I don’t wish on anyone. But there are two types of homeless people. The first type are the good people, down on their luck who need temporary assistance until they can get back on their feet, and they faithfully follows the housing authority’s rules, meeting all requirements. The other type is the drug-addicted or mentally unstable homeless who spend most of their days “defecating and masturbating” in the front yard of the housing project they’re assigned to. Both types are put into homeless shelters and those shelters are being disbursed into neighborhoods such as yours whether you like it or not. The big question is what type of homeless will become your neighbors? Continue reading

Buyers are to Blame for the Real Estate Housing Bubble

It just baffles me how people want to blame bankers, real estate agents, loan officers, appraisers, etc.. for the real estate bubble. The real estate bubble, just like any other bubble was caused by a frenzied increase in demand from a new influx of buyers willing to pay more to obtain the desired item. The bubble bursts when everyone realizes what they’re doing doesn’t make sense and also realize that the price for their coveted item is unjustifiably too high. Throughout history, there are several examples of this happening. The examples I’ll focus on are: Continue reading

Home Affordable Modification Program (HAMP) Redefaults Approaching 50%


Want to know how your soon to be increased tax dollars are being spent?  HAMP was designed to help homeowners, unable to pay their mortgages, avoid foreclosure.  Instead, we’re spending millions of dollars just to give them a few more months in their home before they lose it.  Now that’s money well spent.  The results listed in the Treasury Department’s latest report show that it’s not working.  According to the report, almost 50% of the 1.3 million homeowners enrolled in the loan modification program have failed to meet their requirements and are no longer in the program.  According to Inman News, “Many analysts expect that more than half of HAMP loan mods will end up redefaulting.”

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Walk Away From Suze Orman’s Advice Not Your Mortgage

In Suze Orman’s book The Money Class, she advises her readers to, “Do the calculations everybody. How much is it costing you to actually stay in that house? How many years will it take for you to pay more for that house than it is worth? If it’s 3 years, 4 years, 5 years, are you kidding me? That’s a house you really need to say bye bye to. It’s not worth the money.” Suze Orman advises homeowners who are upside down in their mortgages to get the bank to modify the loan. If that doesn’t work, she suggests that homeowners seek out a short sale or a deed in lieu of foreclosure. Continue reading

Banks Are Abandoning Foreclosed Homes Too

Homeowners aren’t the only ones making an investment decision to walk away from their mortgages. Apparently banks are walking away from their abandoned properties too.  Banks that hold properties that suffer from deferred maintenance, vandalism, or declining property values may cost more to foreclose, manage and sell than the property is worth. In situations like these, many banks are  a choosing to abandon the vacated property and consider it a loss. Continue reading

Homebuyer Tax Credit: Nearly Half Will Be Required To Return It


Nearly half of the homebuyer tax credit recipients have recently discovered that they will be required to return it to the government.    If you received a tax credit, find out if you have to return your too.  If you filed wrong, or had your home sale fall outside the rebate period, or got one rebate mixed up with the other and filed for the wrong one, you may have a surprise coming. Continue reading