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Top 10 Most Expensive Zip Codes in the United States for 2010
2010-10-30 16:28:00
If you are looking to buy a home in an expensive part of the country we have the top 10 list for you. Forbes has put together a list of the top 10 most expensive zip codes in the United States and the prices will make your head spin. The average sales price of a ...Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published.Top 10 Most Expensive Zip Codes in the United States for 2010 Related posts:Top 10 Youngest Cities In The United States  I remember moving to Atlanta back in the early 1990s... Housing Could Remain Big Weakness In United States Economic Picture For 2010 According to the punditry outside of the real estate industry,... Top 10 Highest Foreclosure States For First Half of 2010 Foreclosures are a part of the United States housing landscape...

Google Buying Manhattan?s 111 Eight Avenue for 2 Billion Dollars
2010-10-27 14:46:00
One of the largest buildings in Manhattan is expected to be purchased by Google . The search engine giant already is a tenant in the building leasing nearly 500,000 square feet of the 2.9 million square foot building. What makes this building so desirable besides it’s square footage is the location. In this INTERNET age wiring ...Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published.Google Buying Manhattan’s 111 Eight Avenue for 2 Billion Dollars Related posts:Low Interest Rates Drive Manhattan Real Estate Sales Forget about the tax credits and governmental interventions when you... Is Manhattan Real Estate Coming Back? The answer may be yes. Prices for Manhattan real estate... Top 10 Counties With Highest Real Estate Taxes in Dollars – 2010 As a boy growing up in the New York Metropolitan...

Auditors Say HAMP Made Many Homeowners Worse Off
2010-10-26 13:44:00
President Obama’s Home Affordable Modification Program (HAMP) has been such a failure that even the auditors can not cover it up. The promise that HAMP would bring relief to 3–4 million households has proven to be a false promise and instead ended up creating more turmoil for home owners. People who apply for modifications via ...Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published.Auditors Say HAMP Made Many Homeowners Worse Off Related posts:New York Times Agrees That Obama Mortgage Plan Making Things Worse It is great to see the New York Times finally... Watching the Making Home Affordable Program Fail If you are working out a home mortgage with your... Bank of America Modified 600,000 Mortgages in Last 2 Years Missing Goal Significantly Bank of America announced today they have modified more than...

Foreclosure Auctions Still Bringing in Buyers in California
2010-10-25 12:19:00
With all the talk about some banks halting foreclosures there is still one undeniable truth in the real estate industry. Banks own too many homes that they need to sell. And sell them they are. A couple of auctions in California this past week have sold hundreds of homes at rock bottom prices. There are ...Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published.Foreclosure Auctions Still Bringing in Buyers in California Related posts:Feds Sides With Financial Industry In Foreclosure Mess While the Obama administration did not sign the misguided banking... Bank of America Suspendeds Foreclosure In All 50 States As the Federal Government races to get a loophole passed... Atlanta’s Country Club of the South Foreclosure Sale Set As the recession deepens, it is not just the unemployed...

Architects Are Working, Good News For The Real Estate Sector
2010-10-21 14:17:00
The real estate industry can use all the good news it can find these days. So when the American Institute of Architect’s Billing Index came out positive for the first time since February of 2008 we celebrated. Well, not celebrated, but we did crack a smile. Before ground can be moved or construction supplies can ...Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published.Architects Are Working, Good News For The Real Estate Sector Related posts:Good News : REITs Trading at 20% Premium to Property Values With the real estate market struggling to gain a foothold,... Spring Real Estate Talking Points – An Article Full of Positives You and I both know that this site has taken... Commercial Real Estate At Lowest Level Since 2002 The commercial real estate market has been in free fall...

Foreclosure Paperwork Crisis is Red Meat For Bloodthirsty Lawyers
2010-10-19 12:02:00
Reading a paragraph out of an Arizona Republic editorial on the foreclosure paperwork crisis we have entered just made my blood run cold. Unfortunately, a “resolution” of the scandal that requires months or years of court battles could cause even greater pain. All 50 states are contemplating legal action. Class-action lawsuits already have been filed, and ...Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published.Foreclosure Paperwork Crisis is Red Meat For Bloodthirsty Lawyers Related posts:Live Over a Year For Free In Your Foreclosure Do you want to hear a scary statistic. Neither do... Foreclosure Avoided For Mother Of Slain Soldier in Georgia SunTrust has come through for the family of the first... Senate Passes Legislation To Protect Banks From Foreclosure Problemsrt Folks, keep telling yourself that the government is there to...

Mozilo Agrees To 67 Million Dollar Judgement Over Countrywide Scam
2010-10-16 16:31:00
How to get ahead in business by Angelo Mozilo: Create a company that writes mortgages. Start writing mortgages to people who can not afford them and then sell the mortgages to others. Get a little lucky as there is a long term housing boom, people take out even more mortgages and then refinance them. Pay ...Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published.Mozilo Agrees To 67 Million Dollar Judgement Over Countrywide Scam Related posts:Countrywide and Bank of America Settlement Affects 200,000 The settlement between Countrywide, now Bank of America, and the... Mortgage Banker Association Takes 30 Million Dollar Loss on Real Estate This is rich. The Mortgage Bankers Association, MBA, bought a... Freddie Mac’s and Fannie Mae’s Relationship With Countrywide Raises Eyes One of the big questions that has been asked in...

1 in 139 Homes Received Foreclosure Filing During 3rd Quarter 2010
2010-10-14 21:44:00
930,437 homes in the United States received a Foreclosure Filing in the 3rd Quarter of 2010. That translates into 1 in 139 homes nationwide. Sorry folks but that is a staggering statistic. That does not take into account the millions of foreclosures that have already occurred in the past few years and the carnage to ...Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published.1 in 139 Homes Received Foreclosure Filing During 3rd Quarter 2010 Related posts:Top 10 Highest Foreclosure States For First Half of 2010 Foreclosures are a part of the United States housing landscape... KB Homes See’s Profitabilty in 2010 For the middle of the road home builder KB Homes,... Third Quarter Existing Homes Sales Increase 11.4 Percent, Prices Drop 11.2 Percent With stimulus provided by the new homeowners tax credit, we...

The UnReal Estate Market
2010-10-13 16:23:00
“May You Live in Interesting Times” is an old Chinese curse. Why I love it is during boring times the interesting times looks so darn … interesting. Howerve when you are living in them like we are now, interesting times can be exhausting, exasperating, and agonizing. In the past few years we have seen a real estate industry ...Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published.The UnReal Estate Market Related posts:Bank of America Suspendeds Foreclosure In All 50 States As the Federal Government races to get a loophole passed... Assessors Forced To Reflect Real Housing Market in Property Taxes While local governments are seeing their sales taxes receipts decline... Best Chance To Sell Your Home Is The First 5 Days on Market An interesting new study coming out of New Zealand reinforces...

RIP, Robert Tishman, 94
2010-10-13 15:51:00
One of the giants of the commercial real estate industry has passed away. Robert V. Tishman, founding chairman of Tishman Speyer Properties, passed away at his home Monday. Mr. Tishman was founding chairman of Tishman Speyer Properties, a company he started in 1978 with his son-in-law at the time, Jerry I. Speyer. It was an ...Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published.RIP, Robert Tishman, 94 Related posts:CalPERS Looking For Real Estate Advisors Are you looking for easy money and a low bar?... University of Central Florida Suspends Agreement With Pegasus Landing If you are active in managing or owning rental housing... 15 Month Low For The Home Builder Index in July 2010 Nationally 14 out of a hundred home builders surveyed by...

Option ARM Reset Schedule Moves Up As Homeowners Feel Distress
2008-06-06 15:44:00
Business Week has published an interesting article on option ARMs. The general thesis is that they will be the next wave of homes that are entering foreclosure in the United States. With subprime loans wreaking havoc across the United States and world financial markets, the housing market has been suffering. The unsold inventory and foreclosures are ...
More About: Investment , Housing Bubble , Schedule , Foreclosure , Mortgage

Feds Approve Bank Of America?s Buyout Of Countrywide
2008-06-06 15:20:00
The Federal Reserve gave it’s stamp of approval to Bank of America to complete their acquisition of Countrywide Financial Corp. After the announcement Ken Lewis, CEO of Bank of America , said that the deal would close in the 3rd quarter of 2008. If I had to guess, there were many in Bank of America’s headquarters ...
More About: Investment , Foreclosure , Mortgage

Steven Preston Confirmed as New HUD Secretary
2008-06-06 15:05:00
Steven Preston , a former executive with Service Master, was confirmed as head of the Housing and Urban Development Department. The role will be fairly significant as a 300 billion dollar legislation is going through the Congress presently that will address the present problems with the mortgage industry. Preston is likely to be lead negotiator as ...
More About: Real Estate , Steven

Subprime Loss Causes Writedown of 380 Billion Dollars of Assets
2008-06-05 20:12:00
The writedown of assets by financial companies is truly staggering. A report out of Bloomberg Financials says that the write down of assets by Wall Street over the past year is 380 billion. To put the number into terms we could deal with, that is saying that 1,900,000 homes with a value of $200,000 dollars ...
More About: Mortgage , Loss , Dollars , Subprime , Billion

California Approve Eminent Domain Restrictions - Prop 99
2008-06-05 16:00:00
Congratulations to the voters in California for passing Prop osition 99. The new ordinance will keep developers and those politically connected from using state and local governments in California from seizing properties in their name. I have no problem with eminent domain being used for public projects. That is the role of it as long as ...
More About: Domain , Eminent Domain

MetLife Buys First Horizon?s Residential Mortgage Business
2008-06-05 15:03:00
MetLife has announced the purchase of First Horizon ’s residential mortgage business. The volatility of the market and risk involved has made First Horizon nervous and they felt their shareholders were better served by getting out of the business. Conversely, indications coming out of MetLife is that we are near the bottom of the mortgage crisis. ...
More About: Business , Residential , Mortgage

New Look For Summer - The Real Estate Bloggers Redesigns
2008-06-05 14:31:00
Just a word to my readers about the new redesign. After 5 years of blogging, nearly 3 here, I keep running into the same problem. How can I keep the good stuff front and center? Face it, some of the best posts get knocked down to the bottom of the page before many readers can see it ...
More About: Estate , Real Estate , Summer , Bloggers , Real

Philadelphia Plans To Blocks Foreclosures With Slight Of Hand
2008-06-05 14:05:00
The power of the government is a wonder to behold, especially when the actions of said government invokes the law of unintended consequences. The city of Philadelphia is about to launch a new plan to help those facing foreclosure. Instead of the sheriff auctioning off the properties as charged to by law, the city sheriff will ...
More About: Real Estate , Foreclosures , Foreclosure , Plans

Legendary Ed McMahon May Lose LA Home To Foreclosure
2008-06-04 18:40:00
Ed McMahon, famous sidekick to Johnny Carson, is facing financial turmoil and may lose his house. McMahon has had his Los Angeles mansion for sale for over 2 years but has been unable to find a buyer. Since suffering a terrible accident in which he has suffered a broken neck 18 months ago he has been unable ...
More About: Home , Foreclosure , Featured

H&R Sued In Massachusetts Over Minority Lending
2008-06-04 17:14:00
If you think that this lawsuit is because H&R Blocks mortgage unit, Option One Mortgage , failed to lend to minorities and over charged them, you would be partial right. According to the suit minorities were overcharged. What is interesting is that they are also being sued because they actually made the loans available to people of ...
More About: Boston , Foreclosure , Massachusetts , Lending

Cutting Off Your Nose To Spite Your Face, MLS?s in Action
2008-06-04 16:10:00
CondoDomain Boston got itself in hot water. They added new content and features to their site. Yep, they made things better for the consumer. But they also added one last piece to the puzzle, they are now a licensed real estate brokerage. But in reality what does it mean for their business? They now are under the control ...
More About: Action , East , Face , Nose , Featured

Baltimore Ground Rent Holder Pleads Guilty In Bid Rigging Scheme
2008-06-04 15:48:00
One of the sleaziest things I have written about since I started The Real Estate Bloggers is how people in Baltimore were buying up ground rents and stealing family houses for non payment. These ground rents go back to British rule of the colonies and many of the homeowners that were losing their homes did ...
More About: Ground , Rent , Guilty

PMI Launches Site For Distressed Homeowners
2008-06-04 15:23:00
The PMI Mortgage Insurance Co. has launched a new site for those who are at risk of foreclosure. The site is basic, but if I was at my wits end and worried about losing my home, this is exactly what I would be looking for. HomeSafePMI.com was released to the public today. If you know someone ...
More About: Site , Foreclosure , Homeowners

All Real Estate Is Local - Even More Local For Appraisers And Realtors Thes
2008-06-03 14:47:00
If you have ever sold a home you have heard your Real tor tell you about the comps in the neighborhood. This is how real estate agents determine the price of your home. But with falling prices and slow moving sales the job of an appraiser to determine the local comps, or comperative prices, is getting much ...
More About: Realtors , Estate , Real Estate , Local

Cash Out Refinancing Leads To Massachusetts Foreclosure Surge
2008-06-03 13:59:00
Way back in 2005 I wrote how Massachusetts families were using their homes as a ATM with cash out refinancing. At that time 14 percent of household income was coming from these cash out refinances. Well, it looks like many of these folks are losing their homes now as they took too much out of the ...
More About: Boston , Leads , Foreclosure , Cash

Tenants Get Caught In The Foreclosure Crossfire, 72 Hours To Get Out
2008-06-03 13:48:00
As we well know, many of the  homes that are being foreclosed upon are owned by speculators. Once they realized that they could not sell the homes for a profit the owners went and got tenants. When the debt burden on these multiple homes became too bad they declared bankruptcy and the homes are now in foreclosure. ...
More About: Foreclosure , Caught , Hours , Tenants

Connecticut Conveyance Tax Causes Battle Between Government and Realtors
2008-06-02 16:52:00
Who is the fool that believes once a new taxes is created the government will ever let it go? For once those affected by a tax are fighting back. Connecticut passed a real estate conveyance tax back in 2003 that was scheduled to sunset, or in real world terms end, on June 30th of this year. ...
More About: Government , Realtors , Taxes , Battle

News Flash: As Home Prices In Tucson Come Down, Buyers Emerge
2008-06-02 13:36:00
The lesson of the day is buyers are not stupid, no matter what the latest advertisement from the National Association of Realtors would have you think. The Tucson , Arizona market was a typical market during the real estate bubble. Logical pricing all of a sudden exploded into a gold rush mentality and pricing increased significantly. Hordes of ...
More About: News , Flash , Home , Buyers

Los Angeles Century Plaza Hotel Sold To New Century
2008-06-02 13:17:00
The famed Century Plaza Hotel in Los Angeles has been sold to investor Michael Rosenfeld this week. The hotel has been in the heart of Los Angeles’s movie scene and also was nicknamed the Western White House when Ronald Reagan used to use it’s Presidential Suite as his home base when in Los Angeles. The ...
More About: Real Estate , Sold , New Century

Another Political Recession That Has Not Happened?
2008-06-01 16:17:00
This is not aimed to be a political post, but to point out an obvious trend that is affecting us all in the real estate world. First, whether you like President Bush or not, we know the press does not. They have fallen in love with Obama to the detriment of Hillary, McCain, and your pocketbook. Why ...
More About: Political , Recession