RICHARD BRANSON'S Words

"Business opportunities are like buses,
  there's always another one coming."
                          Richard Branson

Bernanke Calls For Nationwide REO Rental Program

From an article written on  1-4-12  by  Jacob Gaffney. 

The government should consider helping the nation's vacant, unsold stock of foreclosed properties by supporting initiatives to occupy.

Federal Reserve Chairman Ben Bernanke believes that one aspect should be a government support program that allows renters to move into those houses.

---------------------------------------

My Reply......


RIDICULOUS !!   Private industry (entrepreneurial) is already in full gear and moving forward.  Why cut that off?
Multi-family market is growing and catching up to where it should be.  There should always be a decent balance of SF homes and MF homes.
Finally, letting natural market forces (supply & demand) work will always be best for America.  Many forget that this is one of the main foundations that built the USA's  World Class economy!

We do not need the Fed's jumping in late and stepping on our toes.  How foolish of our Congress Persons to believe they will not cause even greater problems.

Most important...why would we allow the highly profitable Banking industry to once again take control???

signed,  a TRUE AMERICAN








PS:  Just read the Blog below this one to see what happens when our Government steps in & over corrects on a problem....
Crushing our beloved Veterans again.   

Foreclosure....FREE RIDE: 3 Years !!!

Great  Story......

Source: CNN MoneyWednesday, December 28th, 2011, 10:58 am

Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight.

Among the tactics: Challenging the bank's actions, waiting to file paperwork right up until the deadline, requesting the lender dig up original paperwork or, in some extreme cases, declaring bankruptcy.

Read the full story >>

Just like I've been telling folks for over a year now...

Dig in your feet & fight......

Principal Reduction Will Solve The Housing Crisis ...

Are the geniuses that created this mess at the banks going to keep telling us how impossible this concept is when nothing they do even dents the problem, but actually continues to exacerbate it? Principal reduction will not only help us out of the housing crisis, but will stimulate the economy! 


This is a great article from Realty Times, written by Tanya Marchiol.


See this link for more info.....
   
   http://realtytimes.com/rtpages/20111202_principalreduction.htm

                                         


Sorry Readers & Fans (LOL),  I have been very busy working on Multi-Family deals and haven't written a Blog in almost a month.  If you have Apartments you want to SELL or BUY,  please contact me ASAP.


Sincerely,  Larry Tutino

Do YOU have "effective Negative Equity" ??

What is ENE ?? (effective negative equity)

 'effective' negative equity,
is  when  borrowers/homeowners  who have so little equity in their homes, they cannot afford to move.


Consider the following from mortgage
analyst Mark Hanson:


On US totals, if you figure average house
prices use conforming loan balances, then a repeat buyer has to
have roughly 10% down to buy in addition to the 6% Realtor fee to
sell. Thus, the effective negative equity target would be 85%.
You also have to factor in secondary financing, which most
measures leave out.  Based on that, over 50% of all mortgaged
households in the US are effectively underwater — unable to
sell for enough to pay a Realtor and put a down payment on a new
purchase without coming out of pocket.
-------------------------


Special thanks to:
 Chris McLaughlin, who is widely known as America’s top
Real Estate Attorney and Investment Consultant.

                         

YES...INVESTORS ARE SAVING US...

This week, attendees of the REO Expo default services conference
in Texas are talking all about how best to sell distressed and
often dilapidated properties.

That's why I think there should be more investor
incentives, because investors take the time to rehab, which in
turn allows them to sell these homes at a higher price, which
consequently improves overall home prices. Look, the banks, the
government, they need help, and investors are not the enemy
here."

(Quotes by Wells Fargo vendor network manager Kevin
Schriver)

I.ve been saying this same thing for a while now. I see it everyday as I search and put together deals on REO properties and talk with homeowners that are dangerously close to losing their homes.

What a shame. The Banks still continue to leave these families in high stress situations. Holding off until the last moment, then telling them, sorry...you're denied.

Then, the Banks put forward conditions to control the Investors! Are you kidding me. How do the Banks end up with the "say so" after being fully responsible for this downward spiraling market?????

No matter. The Banks are going to make the money while we commonfolks and consumers pay, pay, pay!!!!

Larry, Blog Author

ITs GETTING BETTER !!!

Here's proof that we are improving in the Single Family markets..

The Federal Housing Finance Agency (FHFA ) is the Conservator of Fannie Mae and Freddie Mac.

The FHFA oversees all monies that the Fed gives to them and pretty much tells the two agencies what to do.

The Director, Edward DeMarco said more stringent underwriting standards and a stronger price structure have helped.

The companies hold a 60% share of single-family loan production.

The FHFA also oversees the dozen Federal Home Loan Banks and said all 12 reported profits in 2010!

Special thanks to..... News & Commentary by Chris McLaughlin at....http://www.smartrealestatenews.com/

SINGLE FAMILY MARKET ?????

FORECLOSURE SUPPLY DRAGS MARKET DOWN.....

According to a report from RealtyTrac, the online marketer of
foreclosed properties. Las Vegas has so many foreclosures that
53% of all the homes sold in Nevada are in some stage of
foreclosure. Foreclosures represent 45% of sales in California
and Arizona, and 28% of all existing home sales during the first
three months of 2011. What's more, the homes are selling at
steep discounts, especially so-called REOs, bank-owned homes that
have been taken in foreclosure procedures. The average REO cost
on average about 35% less than comparable properties, according
to RealtyTrac.

The author of this article is usually very accurate in his foresight.

Read more at ... http://www.smartrealestatenews.com/

FEWER FORECLOSURES in Last Quarter....

This is GREAT NEWS !!!!

Monday, April 4th, 2011, 7:51 am

Freddie Mac Chief Executive Officer Ed Haldeman said less than 4% of the government-sponsored enterprise's single-family home loans are at least three payments behind or heading into foreclosure.

Read more at........ http://www.housingwire.com/2011/04/04/less-than-4-of-single-family-loans-are-delinquent-freddie-ceo

Passed on to you by Larry Tutino

PENDING HOME SALES...UP, UP, UP

Sure the housing market is bouncing up & down,,,,,but,,,,,it's slowly improving.

The bottom is here or darn close. Investors should be focused & moving fast now.

Do whatever you can to buy now!

Regionally, the area with the largest increase was the West, up by 7.0 percent. It is the only region experiencing higher levels of pending sales than a year prior. The Midwest wasn't far behind, with a 4.0 percent rise for the month.

"We may not see notable gains in existing-home sales in the near term, but they're expected to rise 5 to 10 percent this year with the economic recovery, job creation and excellent affordability conditions providing confidence to buyers who've been on the sidelines," Yun said.

Published: April 4, 2011

I found this GREAT news and knew you would want to see it.

Thanks from Larry Tutino ...Blog Founder

Read more at this link.... http://realtytimes.com/rtpages/20110404_realestateoutlook.htm

RISK.......

“Only those who risk going too far can possibly find out how far one can

go........

T.S. Eliot

A great quote I came across while checking out Roland Hopkins new book titled...

Selling Yourself & Your Ideas.

Larry Tutino, Founder of Blog

COMMERCIAL SALES SURGE !!!

Transactions surged over the past year as the economy began to recover and low interest ratesmade it cheaper for REITs and private-equity buyers to acquire office, retail, industrial, apartment and health-care properties. Completed acquisitions by U.S. REITs more than tripled to $24 billion in the 12 months through the end of February compared with the previous year, according to data compiled by Bloomberg. Fasulo said he “wouldn’t be surprised” if U.S. commercial property purchases double in 2011 from almost $140 billion in 2010.

U.S. commercial property purchases may double this year as confidence builds among investors with access to credit and equity that values will rebound.

Blackstone Group LP’s planned $9.4 billion purchase of U.S. shopping centers and Ventas Inc.’s proposed $5.7 billion buyout of a health-care real estate investment trust, one of two multi- billion dollar health care REIT deals announced yesterday, may mean a wave of commercial real estate acquisitions is coming as buyers regain confidence in the market.

Read more at...http://www.bloomberg.com/news/2011-03-01/commercial-property-deals-may-double-in-u-s-as-blackstone-bets-on-rebound.html

I found this info on Jeff Lindahl's site at... www.rementor.com 781-878-7114

Thank You, Larry

NEW RESIDENTIAL LOTS NEEDED????

NO !! We clearly have enough residential lots available to last a year or two.

John Burns, an analyst I respect and trust and have read for over 3 years has this to say.
Just click on the link below for an eyefull.......

http://campaign.r20.constantcontact.com/render?llr=t6qceacab&v=001_7pdtf0NbxOP2QisbbIL2DnK57kYXX2FqByDxMhf0jh4zI1JTAr_BWAn0LyHaPjiWLgtx21JqlY6-sBCzeEBIRtBRWK3zt2Bzw3_DvIhLmSuI7lzQM0n5FTM__uWRXAaUEIR4iW7LsqZgG5A-GOhk8euCdZQoS-b4cqdXPgM_L_PliFJJHbQh2050uAD2qidLJRUhqwlny53D9gIkvkMATxWHh8CZjbfB_MydVbUAp5EJHcjp4fr-Q%3D%3D

Many thanks to John,

Yours truly, Larry Founder of this Blog

BANKS GETTING BEAT UP !!!!

It is unfortunate that the lawyers are getting paid by both sides (whats new?), but the Banks deserve this one. Read this great article by Harold Lear......

All foreclosure efforts on B of A and Chase homes involved in the suit are suspended.

Some of the nation's top trial lawyers have banned together and are secretly beating the banks. These are the lawyers who previously represented these very banks; the lawyers who -- for years -- have gone to Court and "ended the madness" for many clients; the lawyers who know their way around the courthouses better than anyone. Already, these lawyers have filed a mass joinder case in 2009 that remains pending against Bank of America (and Countrywide) and includes thousands of Californians. This case is now going national. These lawyers have invoked laws and procedures the banks were previously unaware of, and Bank of America is getting beat at their own game because of it. Two weeks ago, the Bank was forced to admit that it had been defrauding the government in foreclosing on mortgages nationwide. Furthermore, on October 4, 2010, the Honorable Manuel Real of the United States District Court called the Bank's primary argument "absurd" and kicked the Bank out of Federal Court. The case is now proceeding in the trial court, and the mass joinder of plaintiffs from around the Country is expanding. It may be that the Bank is unable to recover under any of their promissory notes, or that the Bank has made other errors that will cause other penalties to be levied against them.

Currently pending or contemplated to be file in the Superior Court of California, in the County of Los Angeles are the following cases: Bank of America, GMAC, JP Morgan/Chase, WaMu, Wells Fargo, Wachovia, OneWest Bank, IndyMac, Citibank and other lenders.

This is obviously excellent for homeowners but can also assist attorneys and loan modification companies as they can use the litigation as an escape from the loan mods.

As of 11/08 the attorney's have decided to offer this to the general public, as a result of my relationship with one of the law offices. I have been afforded the opportunity to assist in marketing this program. If you wish information regarding these stunning developments, or should you wish to be considered for involvement in this action, please call Harold Lear 858-945-1047, Client Relationship Manager

FYI: todate- 1 home free and clear and 9 NODs torn up by the court, all foreclosure efforts on B of A homes involved in the suit are suspended.


Please see link: http://mvipps.com/v-why.htmBy Harold Lear, Client Relationship Manager at Real Estate Solutions That Work

COMMERCIAL Real Estate is Back !!

GLOBAL CRE MARKET BOUNCES BACK; GREAT OPPORTUNITY FOR INVESTORS, BORROWERS ALIKE.

Regionally, here's how the global resurgence in direct CRE investment looks: U.S. transactions are expected to approach $90 billion by the end of the year. That's 90% higher than in 2009.

Your best access to commercial capital is with....

Greg Weimer
(480) 659-5182gweimer@remingtoncapitalinc.comhttp://remingtoncapitalinc.com/

Have a Great Day, Larry Founder of Blog

COMBAT "REO" FRAUD

Finally...an Easy Way to Combat REO Fraud09.28.10, 12:30 PM EDT

I found this article on Forbes.com
A company that seems to have the same integrity as me. We are all very tired and ashamed of unscrupulous real estate agents taking advantage of Americans losses.

Click on the link below to learn more....
http://www.linkedin.com/news?viewArticle=&articleID=210718733&gid=106811&type=member&item=30908559&articleURL=http%3A%2F%2Fwww%2Eforbes%2Ecom%2Ffeeds%2Fglobenewswire%2F2010%2F09%2F28%2Ffinally_an_easy_way_to_combat_reo_fraud_202500%2Ehtml&urlhash=LU69

Thank you, Larry Founder of this Blog

HELP !!! I NEED FINANCING RIGHT NOW !!!

"About 2 weeks ago, the local bank that we have been doing business with called us and told us that they would no longer do business with us. To say the least we were devastated, considering that over the past few years we have never defaulted on a loan or not sold a house that we have constructed with their money." The builder went on to ask for Remington's help, indicating that "time is of the essence." (This is a testamonial from Greg's website)

Greg Weimer
(480) 659-5182gweimer@remingtoncapitalinc.com (Click here to email me)http://remingtoncapitalinc.com/

8800 East Raintree Drive, Suite 200 Scottsdale, AZ, 85260, United States

Note* I highly recommend Greg Weimer. Larry/Founder of Blog