Real Estate Land and News

A Change Is In The Air?

noreply@blogger.com (suntango) — Mon, 23 Jan 2012 03:54:00 +0000

Who doesn't love a warm, open, cozy Log Home. This shot is from Loghome.com

Although the Real Estate Market is still submerged, there are some signs that interest me. Lately while cruising to and from certain jobs I have noticed flatbed trucks running around with, now get this, "lumber packages!". For those of you who are unfamiliar with basic contractor home builder lingo, a lumber package is delivered when the slab or foundation is poured. That means a lender OK'ed money to buy more building timber. That means a contractor and lender is either committing economic suicide, or there is money on the loose chasing new home buyers.

Actually, here in the North Dallas area there really is new construction. There was a new subdivision completed here in Flower Mound and a new one in the process. Further, new apartments are going up in the area. These are all good news but it is also due to the very low interest that is available which creates a different problem. No interest revenue for investors. A quick look at your savings balance earned interest will attest to that.

Further, money normally used to build this country is being soaked up to bilk the the few of us still working. That is the commodity traders that are now borrowing billions in capital to buy up oil inventories and sell them but never take delivery. This is a false market and our government is far too stupid to fix it. But we know what is going on.

Oil coming out of the ground in Saudi Arabia is done for about $7.00 a barrel. Now it is getting close to $100.00. They said $70.00 a while back would keep oil prices low enough to discourage back yard engineers and good old Yankee engineering from building an energy system that will virtually destroy the oil industry as we know it. They were right about the last part. It is happening. I've been studying the "alternative" energy field for the last 10 years or so and doing some experimenting on my own.

There are two technologies and I am reluctant to call them new. One is a Cold Fusion generator that is being wrought by the Italian team of Andrea Rossi, and the other that captured my idea of free energy is a solid state generator that produces power via different unique materials. The different materials we know that produce electricity are a lead core with anodes bathed in a liquid electrolytic acid. This new tech loses the liquid but produces power just the same by using different materials sandwiched together. "Imagine this, never having to plug in that damned iPohone". It get's even better. You can imagine the possibilities.

Tesla knew and used the earth's magnetic power to produce power. He found out how to produce electricity without mechanical means. The problem with that invention was investors couldn't bill it since it was free. Check this out ---
http://bit.ly/wNWVoK

What's Happening Now In Real Estate

noreply@blogger.com (suntango) — Sun, 16 Oct 2011 23:15:00 +0000

Two words, "not much". Still stagnant and will remain so for some time. At the very least until the Obama administration is out of office. Photo is from Foxnews and pictures one reason the real estate market is on it's heels and shall remain so. An unrepentant and unaccountable government official.

The real estate market will not improve until there is stability in the economy. This will require the elimination of all the soot that is causing the uncertainty and that is the Obama administration. With the vast spending, over-regulation, and plain negligence on the part of Mr. Obama, his czars, incompetent cabinet, and out of touch attitude, little will equal positive results.

Both parties have issues that will effect the real estate industry in one way or another significantly. Romney is or was, we really don't know for sure, a cap and trade Al Gore on greenhouse gas guy. He has held a pro second amendment stance but I'll bet there is a very slim chance I'd see him burning gun powder a couple lanes away from me at the range.

We know that Mr. Cain wants to gut the current tax system and that is good but it will take years to maneuver around the maize of real estate laws that the viper pit congress wove to create a false market of home ownership. This is what happens when we have congress made of 80% attorneys and a less than 13% favorable rating. Horse crap.

Any time government issues a tax incentive, credit, grant, what ever to encourage someone to buy or do something, you are punishing those and taking funds from those who do not have the facility to perform the point of the tax benefit.

Like the "cash for clunkers" idiocy. If you were going to buy a car anyway, had a job so you could pay for one, then the Senator Markey says, "we are going to rob from Peter to pay Paul so you can buy a new car". Those people bought a car with cash stolen or redirected from those who could not afford one. "Is that fair?". This tactic worked spectacularly until-they ran out of our money for that project. The sales dropped to pre-clunkers levels and made buying a used car worse. Now, if you could only afford a used car, you really got screwed because the price of used cars and parts shot up and will remain high until, again, this administration is gone.

GM has been touting their new electric state of the art green car with parts from everywhere but here as their flagship that has sold less than 900 units. That's right. When 4 door Sierra Pick up Trucks, Tahoes and Suburbans speak of market need selling in the tens of thousands, you know government motors has a problem with reality.

And, so it goes with the real estate market and is why government needs to get out of the way. I think real estate today will be a boon for those who have a lot of cash and can buy real estate but for REITs and other real estate instruments of income it will take some time to recover. Rental property will flourish in some areas but we've seen those investments take a bath as well as portfolio values dropped with the failing market.

It used to be that REO's (real estate owned) owned by banks could not exceed a certain percentage of total mortgages in effect. I reckon that is but a pipe dream today. There are still hundreds of thousands of homes going into foreclosure, being held by banks, and maintained until market improvement. Whenever that happens.

This Real Estate Abyss is the result of incompetence in government at the highest level and why we need less government than more.

Foreclosures Rise Again

noreply@blogger.com (suntango) — Sat, 17 Sep 2011 18:00:00 +0000

When I was in construction building homes, I would take a "Stamped set of blueprints" that is to say approved by the local building inspector and nail them up on a stud in the living room wall .
All contractors and workers had access to them and so they could easily find specifications and locations of all that effected their trade. (photo from minkler-house-plans.com)

Although architects do a wonderful job placing everything in proper perspective and location careful study is needed to be sure it all fits together as planned.

A I was in the process of framing a large home in North Dallas, I had just completed adding some deadwood to some overhead plate stock when something caught my attention. I was at ground level and looking at the entry to a water heater cabinet. There were three hot water heaters in this house. I looked at the blue prints then looked at each cabinet, measured the door width which was correct at about 20 inches. I wasn't satisfied.

I asked the project supervisor for the specification book. This was an instruction booklet of sorts that detailed type, size, and number of appliances, light fixtures or can sizes, plumbing fixtures, sizes and so on. He looked at me curiously and slid it over to me. I opened it to plumbing fixtures at about the same time my boss said, "whatcha looking for?" As I looked at the dimensions for the hot water heater, I folded over the blueprints until I could see the plat and the hot water heater door size chart.

"We've got a problem" I said, "we framed the opening of these hot water heater chases for a 20 inch hot water heater and the actual water heaters are 24 inches!" "Oops, it wasn't our fault exactly but now the problem got even larger. This meant moving entry doors and headers to two bedrooms and a kitchen pantry to make it all work. But here is where it gets even more complicated. Any time you modify blue prints you need to get approval and a new stamp of approval because of the nature of the change.

Sure, most builders would go ahead and make the plans work, modify the framing, and no one would be the wiser. But, what if you had to move plumbing, electrical, and one or two other trades? Someone could get into trouble. Also, losing faith with your local building is not a good idea and can turn green tags to a frustrating sea of red.

So, we came up with a plan, contacted the architect, told him of our proposal and it worked. That afternoon we had a new set of working blue prints all legal like.

So, "who's fault was this?" The prevailing wisdom says the architect, but why didn't the building inspector find the error? How about the plumber who bid the plumbing? or the electrician who bid the wiring? or the hardware supplier who was to supply the doors? Which brings up another issue, downline suppliers who bid their proposals on bad information or should they have caught it too?

Granted, three lousy doors or openings is not a big deal. I had the openings reframed in a few hours but it was no easy task. This meant an entire chase had to be rebuilt to allow for door trim and sheet rock on the inside. And because of the increased size in the kitchen water heater, we had to reduce the entire back wall if the pantry by about 5 inches.

A relatively small omission or oversight turned into a lot of work later on. Much like what is going on in the mortgage market today. A lot of short sighted minority groups in effort to force financing from lenders to those who couldn't afford a home really, touched off a nightmare scenario that had world wide effects and will take years to overcome.

The Tea Party is risen from the ashes of this aftermath that continues to burn as foreclosures rose again this quarter. I hope their steadfast spending cut, smaller government ideal spreads and government finds out, they work for us dammit!

This Real Estate Morass Will Take Years To Recover

noreply@blogger.com (suntango) — Sun, 10 Jul 2011 21:30:00 +0000

This is a "Mansard Roof Design" which is of a French Origin and Flavor. I've never built one of these but I have worked on a few in disrepair. Typically the sides of the roof are canted in and the actual roof can be flat. Personally, I have found them difficult to work on. This shot is from digitalgallery.nypl.org.

As we slog through this economy there are some things that are very clear. We have no leadership. The Obama cabinet has only a trace (less than 8% ) of people who are from the private sector and know anything about economics 101. And those guys and gals probably don't care.

Right now the United States has the highest corporate tax rates in the world. We were tied with Japan at 50% until Japan decided to reduce their corporate rate in an effort to generate more business. Yes, there are corporations that pay no taxes like General Electric but not all corporations have company presidents that sit in Obamas lap like the GE CEO. I find it very disturbing that Obama wages class warfare on one hand and schmoozes up with GE. I suppose the really bad corporations and "the rich who are not paying their fare share" aren't the ones filling Obamas campaign coffers. That is the real problem I speculate.

Here is a summary of what is going on. The Fed has made money to large investment Banks real cheap. Investors and speculators are borrowing billions of dollars to speculate on stuff like, well you know, oil, corn, soybeans, the everyday stuff we need to survive to the tune of 8 out of every 10 trades. That means money that might flow to businesses large and small are being tied up soaking the taxpayer by driving prices of commodities higher and higher, They do this through fear and intimidation. We have no control and congress is far too stupid to do anything about it. But, we have to try.

What needs to happen is oil should be removed from the trading floor except for major airlines and transportation services that want to and need to lock in long term fuel prices so they can plan budgets, expand business, hire, train, and return a profit. I know you know what it is like. Fuel prices are much like interest rates during the Carter administration. "Chaotic', and what we need is stability. Not just fuel prices for a day but for years. Fundamentals regarding fuel prices should place oil at about $40 to $45 dollars a barrel on the high side. Gasoline should be well below $1.60 a gallon.

What all this uncertainty has done is effectively kill the real estate market. Yes, there a few new homes being built and sold but at a snails pace because they are competing with several years backlog of REO's (real estate owned - by lenders). It is going to take a while to get this country back up on it's feet and get folks working again. But, nothing good will happen until this administration and every vestige of his staff leaves office. Then, we have to be sure the next administration takes steps to stabilize this economy. There are many ways to do that and one as I said is to remove oil from the trading pit. I know there are those that say it isn't possible because oil is a World Wide Commodity but it is also a World Wide problem that needs to roped and tied down. Almost every country in the world has the same problem we do.

Market stability will allow the real estate market to recover, but it's going to take a while.

Obama Toys With The Real Estate Market Again

noreply@blogger.com (suntango) — Fri, 08 Jul 2011 04:47:00 +0000

Modern Ranch or simply "Ranch Style" homes are generally a single level sprawling design of different designs. This is an example of "Modern" to the max. This is from shelterpop.com

Obama has instructed FHA in another misguided attempt to allow folks with FHA Mortgages that are unemployed to forget making their payments for up to a year. Although I understand the dilemma, it will have unintended consequences as all good deeds like this do. For one, it destroys the law of "contracts". A contract is meaningless if it is not followed for many reasons.

What Obama is saying is, "to hell with the taxpayer and the real estate or bond investor", I am going to do a liberal thing because that is what I am. Meanwhile, other mortgage holders who wanted a loan modification under this same program was told by the bank they wouldn't qualify until they were 3 months behind in their payments, so they quit making their payments and were soon facing foreclosure. No modification. They lose the house. I wonder how many more were buried under the bloated Federal Regulations that are these unfortunate operations.

I understand the want to help folks but to tell banks not to foreclose for a year not good. If no one pays someone gets hurt financially but not just the unfortunate homeowner, the people who were expecting a return on that mortgage investment get hurt too.

A word about FHA Mortgages, When I was engaged in purchasing foreclosures and in the research phase, the first thing I did was go through my list and throw out all the FHA loans. Yep, we didn't even want to look at the damned things because they were a total waste of time and money. Why?, well, since it was an FHA loan, the lenders didn't give a crap about collecting or foreclosing quickly because they knew that FHA would cover their loss with the required "Mortgage Insurance" policy in the event the "Mortgagee" didn't pay the mortgage. Most of these took well over 6 months and longer anyway because the Federal BS needed to foreclose anyhow.

Further, these were mostly low income FHAs and they were trashed too. So, on top of absolutely no equity left after the lender burned through the PMI then was the rehab costs. Not worth the effort, ever!

Now, for someone reading that want to invest in Real Estate, look at conventional, VA, and personal Real Estate financing that is in foreclosure. Now, I know VA loans are a government backed loan but they work differently and they aren't trashed either.

Governor "Moon Beam" Kills About 25,000 Jobs

noreply@blogger.com (suntango) — Fri, 01 Jul 2011 03:33:00 +0000

Photo from: westerncowboyhomedecor.com

Affiliate marketing has become a very large industry and hundreds of thousands of Americans who have been layed off, fired, can't find a job, outsourced, or are in need of a second income have found affiliate marketing fulfills their need.

Affiliate marketing takes different forms and thousands of companies have found affiliate marketing to be a quick simple way to market their products through their affiliates. A simple tracking system places the affiliates ID cookie when an affiliate drives a customer to their retail site to buy a product. After the transactions and a certain amount of Affiliate Commission has accrued a check is issued to the Affiliate. Usually about $100.

Many affiliates earn thousands of dollars per month and their relationship with Amazon is critical to their survival. Enter "Governor Moon Beam".

Governor Jerry Brown signed a bill today that crushed the life out of thousands of Amazon Affiliates and their lively-hoods. Brown sided with the misguided retail establishments that think they are losing business because of the tax collection issue which is a non-issue really. If a product is purchased out of state taxes are not collected for an out of state purchase but, this is across the board. Not just California. Several other states have done the same thing as California and driven out Amazon, Overstock, and hundreds of other companies with affiliate programs. Thus, destroying more jobs and income and by the way, income tax revenue. Thousands of families have literally had to move out of state into an internet friendly state to save their businesses and their income.

California already has a problem with their over-regulation and high minded dysfunctional liberal social agenda that forces businesses to adopt their way or the highway. About 25 businesses a week have decided to take the highway and tell California to "Shove It!" And I agree they should.

I think the problem with affiliate marketing is they don't have a loud lobby to stroll the halls of Congress adding to the corruption that is Washington. These affiliates are moms and pops. Young people that hung out a shingle or wrote a bundle of articles and pounded on an amazon product until it got ranked high in Google and began to pay off. Many are earning thousands and thousands a month off of a handful of products. But, it isn't just the little guy, many large companies are getting into the game as well.

This is a problem when government is run by those who have never been in business. Right now Obama for example, has the least amount (less than 8%) of his staff that have ever been in or ran a business. The rest are all academics, social misfits, tax evaders, socialists, Marxists, Commies, union leaders, and the least business friendly crew he could muster between golf games.

There is a move afoot to do a Jerry Brown Nationally. We cannot allow that to happen.

The photo above is an example of product that can be sold via an affiliate link. With Amazon, if you were to sell a Southwest Design Bed Ensemble similar to the photo you might earn only a 4% commission. If the bed assembly ran $3500.00 then you would earn $140.00. Not much but if you had a popular product that commission could go up and if you sell several a day that would be some good dollars but it is work.

Politicians are not good for business.

Arlington National Cemetary

noreply@blogger.com (suntango) — Mon, 30 May 2011 17:11:00 +0000

The front ramps dropped on D-Day insuring certain death to hundreds of US Soldiers that grey, cold, and windswept day. But, despite the withering gunfire, they kept coming. They had to. This evil menace that had enveloped the world and freedom as we knew it had to be stopped. Tyranny, dictatorial socialism, and the deadly consequences that beset unarmed civilization required brutal opposition. And that is what our Military sons and daughters offered up.

They enlisted, went to war, and many thousands gave all they had and are now at Arlington National Cemetary .

I fear that as time goes by many millions of people will forget this past and immense sacrifices that were made to promote our future. These people can no longer go fishing with their fathers or taste their mothers apple pie. They can no longer hear the sounds of the wind through the trees or the waking crows of a rooster in the early morning. The scent and warmth of the that special person they madly loved
and snuggled up to at night, are but a tearful memory.

We cannot forget these special people who don the uniform, take the oath to defend and protect unlike our congressmen, senators, and even presidents, and die for you and me.

Arlington National Cemetery is a monument to to the valor and courage our Military servicemen devoted to this, the greatest country on the planet.

Real Estate In Turmoil, Is Anything Getting Better?

noreply@blogger.com (suntango) — Fri, 27 May 2011 01:13:00 +0000

Photo from the Marble Tourism Assoc. of Colorado.

So, is anything getting better in the world of real estate? the answer is NO. Realty Track and other industry followers are not optimistic and get ready for this, the same people who brewed up this last economic disaster are pushing banks and lenders to do the exact same thing that got us into this colossal mess the first time and that millions are still suffering through!

Groups now associated with Unions like SEIU are crashing Local Banks and Lenders demanding loans and making a scene just as they did before with no common sense in sight. They are claiming that there is red lining and that may be true but the line runs around the bank because they now have to scrutinize every loan they make like never before.

I have seen people with credit reports in the 8 range finding it difficult to get funding. Although there are mortgage lenders loaning money it is a buyers market and that market is vast. We have seen real estate movement here in the Dallas Ft, Worth area because we are a right to work state and open for business unless you are Amazon.com, but the selection as I said is vast.

Banks are said to have a 24 month supply of current foreclosures right now with hundreds of thousands heading for the auction block. So it would take some monumental economic upheaval in a positive direction to get things going again. I expect about the time this current administration leaves office which from what I see coming down the road will be sooner than later.

If you haven't been listening to news outside the mainstream mumbo jumbo you would have learned that Jerome Corsi has had a source at the Hawaiian Department of Health that knew what documents were in Barak Obamas file and what were not for some time. What is interesting is that everyone that has looked at the "alleged" birth certificate has found that to be forged much to their amazement!

One document expert kind of casually scanned it, looked at some basic anomalies that occur, and that is when his jaw hit the floor! He said that if you were going to forge a document for the President of The Unites States he could have done a much better job. That said, thebirtherreport.com and WND or Worldnetdaily among other have the latest on this emerging sore if you are interested.

Back to real estate, it's moving but at a snails pace. To get the most out of a residence it might be better to lease your home and allow someone else to pay most of the mortgage while you rent something less expensive if that is possible. This could allow some time to earn more, pay down the note some to refinance later, or perhaps even a lease to own.

If you are a buyer in today's market I suggest you speak with banks to see what REO's or "Real Estate Owned" that banks have. Most are handled by a local broker. They have to get rid of this inventory because it costs them money to maintain these properties. Just because the Bank owns them does not absolve them of maintaining lawns and other things. Home Owner Associations and municipalities don't care who owns the property, they demand it be maintained or they will issue fines, do the maintenance and charge them, or take the bank to court and force the issue.

It's a mess. Congress who is largely unaccountable is responsible. We have to change that. I say that every bill that is passed should bear the name of the congressman or senators that sponsored it. If down the road that bill winds up costing taxpayers millions or billions more than that official said it would cost, they should be fired and all their retirement and benefits be terminated instantly. I am sure a lot more care would go into their decision making.

Bad Million Dollar + Home News

noreply@blogger.com (suntango) — Sat, 14 May 2011 20:33:00 +0000

loghomeusa.com Photo

It appears that lenders are reluctant now to lend on larger properties. What I mean here is pricey properties. Jumbo loans that flew across the transom at a very brisk rate are for the most part gone.

Multi-million dollar homes will continue to fall as quickly as they were built. What this will mean tenders several things. High priced homes will be forced downward in value. Perhaps even to realistic value and it will say "cash is king".
Those with cash will make the rules.

I know what it is like when an owner has a home for sale with no prospect for income and is desperate to sell. They feel cheated, depressed, and indignant knowing that a current miserable offer to purchase just may be their last best hope to avoid foreclosure or bankruptcy. It is not comforting to know that the entire reason this country and the world is in this financial predicament is because we have an absolute incompetent congress and senate.

Government is again charging lenders and banks with "red lining". A hypothetical process where these lenders take a map and draw a red line around the areas they will not lend money in. "Why", the risk of loss is too high. The loan failure rate makes lending in those areas cost prohibitive. But, government says, "you have to loan in those areas" so what do the lenders do?, they pass the excess costs of these bad loans on to everyone else. That means you and me.

Is that right, are banks red lining?, the answer is NO. Most of these areas are of course impoverished and generally run down. I think it is up to local civic leaders to improve their communities to make them more attractive to investments. They can do this by local incentives or block standards. Asking all property owners and tenants to improve their street appeal, drive drug dealers out, clean up, modernize, update, invite and protect business start ups to provide employment. Make the neighborhoods safe for people and investment.

But, what we hear now from minority community organized groups such as those led by Barak ~~Osama~~ , Obama previously, is to do nothing but intimidate, picket, strike, and hinder lenders. Yep, that's how to make someone love you. Come running into the bank lobby carrying signs and screaming, yelling, demanding this and that, challenging and running regular business off. It is no surprise business feels the shaft from this administration.

We need to go back to the future in our lending practices. Back to a time when homebuyers actually had skin in the game. A time when 20% down was the norm except for our veterans.

The Advantage Of Falling Home Prices, There Is, Really!

noreply@blogger.com (suntango) — Wed, 11 May 2011 02:20:00 +0000

(Photo from clorebros.com Log Home Builders)

"As we watch and wonder why home prices continue to a downward spiral, there are some bright spots if you happen to fall into a specific category".

And, this is the category, you live in a state like Texas where real estate taxes are high. We have no payroll tax so it comes from real estate to build schools on every block, repair roads, pay medical staff to care for undocumented immigrants, police departments to house and support the same, pay for tax breaks to build sports stadiums for the Rangers and Cowboys but run off legit year round booming job creating businesses like Amazon. As the value of homes drop so does the tax rate here.

When we first purchased our little home we placed enough down to set our payments at $600 a month that included taxes, insurance, principal and interest. Our reason for a huge down payment was this, at $600 a month we could work at McDonalds or Pizza Hut and make the mortgage payment if we had to.

Readers know you can't find a place to rent for that but we shelled out a bundle of cash too. This was in 1991 and the RTC takeover of Savings and Loans was running out of inventory. This was a HUD Foreclosure and we had to finance it through FHA that included mortgage insurance that is required. Even though we put about 1/2 down on the place.

Now, as the years passed insurance went up, taxes went up, real estate values went up and as a result our payments went up. I submitted and received a homestead exemption and our payments were effected downward a tiny bit. As our payments started pushing past $640 a month I got the Mortgage Insurance cancelled and our payments dropped. I felt our home was improperly valuated for insurance and our payments went down again.

In 2002 we received an invitation to reduce our interest rate from our mortgage company from 8% so we accepted and loaded up a 15 year mortgage at about 5% and kept our payments still right at $600 plus. Then a couple years ago we had a bad experience with our insurance carrier, "you know em", "the good hands people", so we changed our auto policy cutting those rates by 1/2 with the same or better coverage then went after the homeowners insurance. Here we saved only a couple hundred bucks but it was worth it.

Then last year I received notice from the tax office lowering the value of our home. I just received another one that lowered it again. Now, normal people would be gagging if you had a new loan and your home was behind the value curve. But, if you are like some of us who have owned their home for some time and have no plans to move, this is great news. Next year, our taxes should fall an extra $333.00 annually and cut our payments by about $27.00 a month. Not a lot but for the first time we will see our house payment drop to about $575 a month.

I realize this isn't good news for most. I am not happy that our home is worth less if we had to sell for some reason but for now a lower house payment is welcome news. We plan to stay here a while.

So, in 1991 we moved in with a $604 payment, then it grew to $735 for various reasons and this year we are at an even $600 a month in 2011. Looking forward to lower payment next year. Our experience here can give you some ideas on how you can reduce your mortgage payment.

1. Check to see that your home is close to comps in the area
2. See if there are any exemptions you can take like a "homestead" exemption
3. If you have an FHA guaranteed loan, see if and when you can drop the MIP insurance (they aren't obligated to tell you when to remove it)
4. Check around for better homeowners insurance and auto insurance. You might be surprised,
5. See about lowering the insured value of your home, There maybe a bit of risk here but if it can make a significant difference it may be worth it.

Hope this helps some.

Osama Bin Laden-DEAD

noreply@blogger.com (suntango) — Mon, 02 May 2011 03:32:00 +0000

Finally, reports coming across the wires say Osama Bin Laden has been killed. Sources over the past few years have indicated his arrogance drew him out in the open from time to time showing complete disregard to the danger the US Military posed.

This terror figure head survived several opportunities in the past but justice finally caught up with him as it will others in cross hairs. Modern US Military technology has been adapting to the terrain and tactics of the Islamic forces in the mountains of Northern Pakistan and Afghanistan.

The location of the strike that killed Bin Laden is said to be inside Pakistan witch confirms US tension with Pakistani communications. Reports are that the US has the body and has confirmed through DNA it is him.

This operation occurred over a week ago and the details of the operation have not been released. The aid of Pakistani officials in this operation are unknown at this time but have been dubious in the past. Covert operations certainly were involved.

Almost 10 years and billions of dollars have been spent targeting this Muslim and others and finally he was struck. President Bush indicated he wanted Bin Laden dead or alive. It appears his wish has been seen through.

Millions More In Foreclosure Coming

noreply@blogger.com (suntango) — Sat, 05 Feb 2011 05:02:00 +0000

Millions of more homes are falling into foreclosure this new year. 10 year arms, job losses, high fuel prices, bankruptcies, and more are forcing more homeowners into the street. Section 8 housing is at a premium when they are found, food stamps at an all time high, health insurance and costs on the steady climb, it's sickens everyone.

A government that is totally out of touch with it's people is in serious trouble. And such is the case now. Every time the price of fuel increases the public takes a pay cut. Airlines and truckers profit margins diminish and government goes on as if they haven't a care in the world. I think congressmen should be reduced in pay by at least $100,000 a year, The closer they are in income to the "middle class" they covet, I think better they might understand our economic situation on a daily basis. But, when they earn in excess of $160,000 a year that places them out of the middle class in my view.

Banks, many of them with REO's (Real Estate Owned) are falling into economic hardship and failing to secure their REO's. This opens up the field of vandalism and any profit or equity left in many properties is lost in repairs. It's a mess. We have congress to thank.

It's Absolutely Maddening!

noreply@blogger.com (suntango) — Tue, 11 Jan 2011 00:03:00 +0000

I don't know about you but I love Log Homes. Thanks to Strongwood Log Homes for the image.

Log homes are earthy, substantial, warm, and go well with a tree covered landscape. And speaking of landscape, "how much money do you get paid for your landscape?" "Can you tell me who and why hundreds of thousands of people get paid for their landscape?" "Donno?", Well, I'll tell you.

There are thousands and thousands of farmers and property owners that are receiving thousands, even hundreds of thousands, no even millions of dollars each year to maintain a wildlife habitat for critters. Many are paid "not" to grow crops! "What the hell is that?" In a market driven society this kind of government intervention is mindless and at best incompetent. Yes, farmers too get substantial sums to maintain or not turn portions of their productive land into farmland for critter habitat.

Now, when it comes to wildlife, I do have some mixed feelings about that. But, when it comes to not growing crops for the economic redistribution, I have an issue with that.

Let me get this straight, don't grow this crop so the price of that commodity stays high for the consumer, you know, the people that are being robbed. This only a drop in the bucket. There is a particular green movement group in southern California that files a suit every week and have been doing so for years. "Why", They get paid for filing the lawsuit and when they win which is fairly common with liberal judges and remember, this is California, they get paid again. Either way, they get paid. They've made a cottage industry out of suing the American taxpayer too. What this country needs is "loser pays" laws on the books. Or, at least have the damages relegated to a fraction of what is allowed now to get rid of all the ambulance chasers.

It's maddening.

Something About A Home

noreply@blogger.com (suntango) — Sun, 09 Jan 2011 04:30:00 +0000

There's just something about a home. A sanctuary. A place to rest. A place to run to for security. How many times have you said, "I just want to go home!". And, you were confident that you could pull into the driveway and soon be secure.

To lose your home is a traumatic experience. It is insecurity in every sense of the word. "Where will I eat, rest when I am weary, where do I clean up, brush my teeth, dry my hair, what will I do with all of my belongings, how do I receive mail, what do I write on an application for an address?". These and feelings of fear torment thousands of Americans faced with foreclosure due to this economy. I've been there too under unique circumstances and it was no fun. There is only so much of ones life you can stuff into a 1977 Pontiac Trans Am. Fun car but pretty hard to sleep in.

It is a frightful, painful, and challenging time for many. I used to buy and sell foreclosures but the root cause for the most I purchased was divorce and the destruction and dust had already settled. But, I still thought about the families as I rifled through old photos tossed in a heap or scattered about.

Today is different. Foreclosures today are the result of "yes" some unqualified buyers but the primary reason has been government involvement in the mortgage lending market. Let's take this ethanol subsidy for example. the government has created a false market for ethanol and taxpayers are paying billions for it. Even though the EPA says motorists can expect a reduction of about 10% in fuel economy, it has caused untold millions of dollars in damage to vehicles, pumps, seals, and gaskets. Oil companies cannot transport ethanol in their pipelines due to water contamination and corrosion from ethanol. Like that industry, government forced lenders to make loans which the government made you and I guarantee through Fannie and Freddy Mac.

Opportunists like ACORN raided local banks with picketing demanding they provide loans to low or even no income borrowers. Since the government said "we will buy all your notes" the banks said "OK" then began making these risky loans, packed up the bad ones with the good ones and sold them to retirement investment groups and so on. These investment packages went south when the investors found out the grain was rotten and the house of cards began to fail. Those that led this are still in congress. Barny Frank, Chris Dodd, Maxine Waters and others in their zeal spend tax money on their poor constituents unwittingly drove our entire economy into the ditch.

Wall Street isn't clean either. They parlayed these bad mortgage securities between investors worldwide because they really have no conscience. Uncertainty in a home is not much different from a business environment. This administration has induced a fog of uncertainty with its anti business mentality and lack of business knowledge. Not a single member of the Obama staff has any business experience. Primarily the people in the Obama administration have prayed on business by picketing them, making them out to be the bad guys and forcing unions upon them as in GM. Even Obama himself said when he worked for Baskin Robbins he felt he had sold out or something to that nature. This individual hasn't a clue about how a free market works. Nor does congress for that part.

Let's hope this new 112th congress can turn this thing around.

Publish Post

10 Year Arm Explained

noreply@blogger.com (suntango) — Thu, 06 Jan 2011 15:43:00 +0000

On a recent post I indicated that there is a possibility of 10 year arm mortgage instruments converting and causing a flurry of foreclosures. With interest rates in the tank I am not sure that will be the case.

Low interest rates are good but they are bad for the average investor. Hundreds of thousands of investors placed their savings into investments that paid 5% to 8% over the years and used that income for retirement. However, at these low interest rates these investment plans are no longer attractive. Further, when the government gets involved things only get worse.

The 10 and 1 Arm rate is fixed for 10 years after which in the 11th year the loan becomes an adjustable rate mortgage (ARM). That adjustable rate is tied to the 1-year treasury index and is added to a pre-determined margin (usually between 2.25-3.0%) to arrive at your new monthly rate. Ask what the margin, life cap and periodic caps of your ARM will be in the 11th year. The loan is fully amortized (or paid off) in 30 years if the normal payment schedule is followed. (Also see anatomy of an ARM for additional information). Sometimes called a 10 and 1. So, if the Fed rate is 4% you would add about 3% to that. Still historically low but more than most fixed rates today. (this information is available at Erate and other mortgage lender sources)

The mortgage lenders that survived this last economic tsunami are the ones who do their own "in house" financing. These are traditional lenders who use their own capital sources such as depositors and existing loan instruments to loan to new home buyers. Generally the qualifications require more scrutiny as expected.

This will all change soon as lenders revert back to more reasonable lending practices. It is going to take years to burn through the fodder of congressional incompetence regarding our mortgage market.

Ten Year Arms Equal More Forclosures?

noreply@blogger.com (suntango) — Tue, 04 Jan 2011 05:46:00 +0000

Right after Christmas and,

just when we thought things couldn't get any worse, 10 year arms written ten years ago are about to reset. Now there has been some serious consternation about that in the news but, it depends which direction they are set to reset and the terms of the original note.

If the 10 year arm was set to run from say a 3% interest for 10 years then jump to say 8% fixed for the balance of the remaining 20 years, or a refi, this could create all kinds of problems. The property, even with ten years equity may amount to virtually nothing because the first ten years interest payments were very low and no principal went to the principal. Second issue is even after ten years the property may be worth so much less than before in today's market. So, if the homeowners note required a refinance at the end of the ten years, they would have to come up with the difference in cash between what the lowered value and the remaining principal owed. Probably not possible for most in today's market.

On the other hand, if the arm adjusts to current Fed rate plus a point and 1/2 or two there shouldn't be much of an issue. It all depends upon the 10 year instrument that was used who knows what will happen really. I think I'll do some research and see what was available then.

New Home Foreclosure Fishing Hole

noreply@blogger.com (suntango) — Mon, 13 Sep 2010 18:52:00 +0000

One thing about a crisis, there are always winners and losers. Those who are unfortunate and have lost their primary source of income are losing their homes and those who have a bit of capital are winning by buying these homes at a substantial discount.

When I was active purchasing foreclosed homes I was particularly interested in vacant homes so that I could avoid any legal and emotional entanglements at purchase. This is fairly easy to accomplish by simply getting a list of homes preparing to be foreclosed on and driving by. I sometimes did this in the evening to see if the lights were on. The best source of information is still a neighbor.

This time period of foreclosures is akin to the RTC (Resolution Trust Corporation) days when casual investors became millionaires overnight practically. Late night TV was infested with the an alphabet soup of pitchmen selling the latest and greatest method of making a killing in the blink of an eye with , no cash.

This new crop of Real Estate Telemagic Millionaire Evangelists hawking their late night wares have a new angle thanks entirely to the egregious incompetence of our government. They call short sales and for many they aren't working too well. Further, lenders got too complacent in their paperwork and filed and foreclosed
on homes they should not have. The Foreclosure process is a very strict one and even when it was all done correctly there is a human factor called "ignorance of the law" that effects judges too. Not all judges know the intricacies of real estate law and processes that can speed up or delay (usually delay) a (Lis Pendens) legal entanglement.

A bleary eyed look at the real estate industry today has a new crop of late night pitchmen schilling the latest and greatest eye popping simple no cash needed way to make money in real estate. Do they work? Some do. All I can say is the way I did it required capital and a method or system to unload the purchase as quick as possible. Our average was right at 45 days from purchase on the courthouse steps to picking up a check at the title company.

It's a tough business and frequently unpleasant. I was very aware of the tragedy that caused a foreclosure and I knew families were uprooted and finances strained. I knew the fear and uncertainty that prevailed when foreclosure notices were posted. We were tempted and extended a hand on several occasions to help the beleaguered property owner, only to be sued and drug into court. lesson learned.

Divorce was the primary reason for foreclosures when I was buying and selling but today foreclosures are a testament to government intrusion and stupidity.

Stop Meddling

noreply@blogger.com (suntango) — Sun, 28 Mar 2010 21:12:00 +0000

The Federal Government really needs to get out of our lives. Every time a new program designed to help someone costs someone else a lot of what the other someone doesn't have, money!

A tax credit is still a tax on the one not receiving the tax credit. It is simply charged to someone else. A tax credit is social engineering or a poor attempt at false commerce. If there were a "real need" for a product, don't you think someone would come up with a commercially viable product? Any time the government says something is free they are stealing from your back pocket.

Look at the mortgage market. When I first began my real estate career my mortgage int. rate was 9% and I put up land as collateral as well as 10% cash which exceeded 20%. I had real skin in the game. There were no 100% financing products unless you were a veteran circa 1978. As inflation and interest rates ballooned under Carter, financial products exploded. Arms and short term refi-wraps and all sorts of things arose that seemed sketchy at best. I began to inform buyers to put down as much cash as possible to finance as little as possible. I also began showing more income properties like duplexes where one side could help pay for the other.

The country was in financial crisis and today with an incompetent and inexperienced administration it is getting worse. The best we can hope for now as an overwhelming GOP victory in November so we can shut down the White House. If congress controls the purse we need a congress that will at least read the bills and stop spending;.

Seems to me that is exactly why the republicans were voted out recently. "Have they learned their lesson?"

What is one thing government has gotten right? GPS

Commercial Real Estate Crumbling

noreply@blogger.com (suntango) — Wed, 10 Feb 2010 00:22:00 +0000

With the turmoil at a peak in the residential market, the commercial real estate monster is in the process of falling apart.

Most visible in strip malls, office space, and commercial multiuse platforms this part of the real estate maliase is beginning to feel the impact of the soft economy.

With hundreds of thousands of mom and pop operations fearing the Obama flu regarding small business they have gone out of business or are not expanding due to the uncertainty. It is clear the Obama administration has no use for small business except as a source of revenue for his redistribution ideals which will fail in the end.

Americans are far too damned independent to get slapped with onerous taxes just to slip that money into the pockets of those he chooses to enrich. Enough is enough. It has been established that Obama is an adolescent in his thought process and does not listen. He will fail.

Case Dismissed

noreply@blogger.com (suntango) — Sun, 22 Nov 2009 16:22:00 +0000

I think a lot of us figured something like this would occur butr there is some other information developing.

First Obama Eligibility Case Clears Court

noreply@blogger.com (suntango) — Wed, 09 Sep 2009 03:21:00 +0000

Sept. 8, 2009 marks the first successful court hearing based on the case 'merits' alone. Previous law suits, many of which are still in the offing have been tossed out on the motion of Standing or some other procedural stance.

Department of Justice attorneys attempted to have the hearing tossed on behalf of Mr. Obama on similar previous hearings however, more and more evidence is becoming overwhelming that backs the "Birther" movement.

The scheduled hearing this morning at 8"00 am in Santa Ana was delayed as Judge John O Carter sought a larger venue to accommodate the overflow interested crowd that showed up to witness the hearing. This crowd did not include any major media as expected.

Recent findings coming to light is the Democratic National Committee "Official Certification Of Nomination" for Barack H. Obama and Joe Biden. This document can be found at http://jbjd.wordpress.com/category/rnc/

It appears that Nancy Pelosi and Alice Travis Germond both signed and had notarized this document. The document qualification includes reference to rules set by the DNC. As Follows; "quote, This is certify that the at National Convention of the Democratic Party of the United States of America, held in Denver, Colorado on August 25 through 28, 2008, the following were duly nominated as candidates of said Party for President and Vice President of the United States respectively and that the following candidates for President and vice President are legally qualified to serve under provisions of the United States Constitution," end quote.

This document was signed and notarized. Then a second document appeared that said this; "quote, This is certify that the at National Convention of the Democratic Party of the United States of America, held in Denver, Colorado on August 25 through 28, 2008, the following were duly nominated as candidates of said Party for President and Vice President of the United States respectively," end quote. This document was also notarized however, this document was date stamped as having been recorded where the previous was not.

Curiously, left out of the date stamped document was any reference following the United States Constitution which is "surprisingly" within the tenets of the DNC.

Did Nancy Pelosi know Obama was not a Natural Born United States Citizen and intentionally deceive State election officials? This is the target of numerous suits that are beginning to fill States Offices of Attorney General.

The recorded document raises many questions as to the possibility of fraud, intent, and conclusion. Is it any wonder there are so many Americans questioning the intent of this administration and those that question their motives.

On the heels of this court finding in Texas, another complaint was filed on the above and more information that can be found at http://www.scribd.com/doc/19538976/jbjdmodelelectionfraudcomplaintagtx

Significant News

noreply@blogger.com (suntango) — Tue, 08 Sep 2009 20:59:00 +0000

In a Federal Courthouse in Santa Ana California today, one of the most significant news stories that ever had consequences regarding the future of this country is happening.

A suit regarding the eligibility of Barack H. Obama is finally being heard. The main stream media has thumbed their nose at this story and are in effect, covering it up.

To their demise, and deservedly so.

The result of research that citizen journalists and very intrepid and courageous people who have been fighting the slings and arrows of ridicule from the Democrats and the left have dug up a cesspool of lies, fraud, and in my opinion insurrection.

All this has been designed to direct Obama into the presidency and hold at bay the truth of the dirty backroom dealings that have kept him there.

What we know, Obama has not produced a "real birth certificate", there are real questions about his draft card, questions about school financing could indicate foreign national registration, passport information has been denied, Obama has not publicly spoke about his time going to school in Indonesia studying islam, being adopted by his step Dad in Indonesia.

We have a lot of questions about this man that started before his election but were ignored. Even lawsuits were tossed aside like so much trash but the stubborn unanswered facts remain and millions of us demand answers. It will not go away.

All his vital records were sealed as the first directive Obama did when getting into office.

I recently came across a couple documents that if proven true in effect indite high level Democrat leaders of fraud. I am trying to find the authenticity before I push forward with these but they are the pin in the hand grenade that will blow the truth about these crooked officials wide open.

More Fall Into Foreclosure

noreply@blogger.com (suntango) — Fri, 21 Aug 2009 03:29:00 +0000

Foreclosures rise along with job loss and mortgage loans re-setting. This is just the tip of the iceberg. What we are going to feel shortly is 800lb gorilla. Commercial loans.

With the demise of jobs, an incoherent government, and a cautious spending citizenry, a new flood of foreclosures are effecting the commercial side like we haven't seen in a lot of years. Many towns are losing shopping centers, majors retail outlets are cutting their losses by reducing stores. And jobs.

What government lacks is a basic knowledge of business 101. The abyss between the American people and government is vast. It appears term limits and are going to have to be implemented to stave off professional politicians. Far too many get into the Washington Beltway 'way' of doing things and forget the people they are supposed to represent.

When a Congressman or Senator say they plan to vote against their own like it or not, it's time for them to go. Although we do not live in a true "democracy" there are areas where representatives need to listen.

Americans have been screaming "stop spending" at a deaf ear when you consider the Obama administration. Cash for clunkers has been another government giveaway that government touts as a success but it doesn't help everyone, just the lucky few that have a job, a clunker, and the ability to purchase a new vehicle. Selective government grants and I wonder how many Japanese cars were purchased with our tax dollars.

The best and fastest way to rebuild this economy is to drop taxes for all to about 15% across the board including corporate taxes. A flat tax. Stop all this frivolous spending.

How To Stop Foreclosures!

noreply@blogger.com (suntango) — Tue, 21 Jul 2009 05:13:00 +0000

"Below is some text from some valuable information if you are facing foreclosure alone".

HOW TO LEGALLY STAY RENT-FREE IN YOUR HOUSE

FOREVER - Be warned: this truth might literally scare you.

What's on your MORTGAGE or DEED OF TRUST that Banks will never tell you. - Banks tried to sue me for damages when I revealed this information to the public.

Methods on how Banks determine the qualifications to approve a negotiation. - If you know the negotiating behavior of the banks, you'll know how to get your negotiation approved.

Is your house already scheduled for auction sale? - I have some of the most amazing information on what you can do to take huge advantages of ALL THE OPTIONS AVAILABLE you may have for this situation at this point.

Filing a motion for an extension to stop foreclosure - You will not believe what you can do using the law at your side

Fool-proof methods on how you can delay foreclosure - ALL the Foreclosure Solutions available in this world, including the ones that the banks wish you never knew about.

Discover one false Bank claim that make people fall for it all the time - Don't fall for this one.

Help to stop foreclosure of a home even with a low credit score

How you can qualify to have the foreclosure REMOVED from your credit!

How most mortgage-stressed people waste their time searching for solutions at the wrong places - how you can avoid it.

Are you paying for foreclosure prevention help? - Learn what they are NOT doing so you can tell them what to do and how they can proceed

Amazing secret on how you can have your interest rate fixed as it was before a variable adjustment - just from making a phone call and knowing what to say and to whom.

Are you foreclosing on Investment Houses? - Discover the huge impact you may have and how to avoid it. -Must read!

How to manipulate lending companies to give you what you want - using just ONE WORD.

Learn what is your legal standing if your original lender filed bankruptcy.

Bankrupcy, short sale, reinstatement, deed in lieu, forbearance? - What it means and how you may qualify for each one. Don't waste your time working with realtors or agencies that don't understand these concepts.

Do you want to short sale your home or deed in lieu? - Read the Short Payoff Chapter and learn about the liability consequences you may have.... in your own home! Your Realtor told you there are no consequences? Ha!

Learn why many lenders do not have the legal authority to take your home away!

Learn Step by Step the procedure for motion to stop foreclosure or sheriff sale

Bankruptcy Chapter 7 or Chapter 13? - stopping foreclosure with bankruptcy filing. Understand which Chapter is best for you.

Legal letters -reviewed and approved by different attorneys- that can help you to stop a Foreclosure in Process

Discover what mortgage assistance state programs or foreclosure assistance programs will never tell you - and you have to know it!

A never-before-released record of the bankruptcy for Foreclosures system breakdowns that I promise will leave you utterly shocked.

Learn if you qualify to enter bankruptcy protection

Bankruptcy vs Foreclosure? Discover which is worse bankruptcy or foreclosure

Are you not late yet? Learn pre foreclosure prevention, what it is and how is the complete legal process step by step

Discover the wrongful actions that lenders are doing to take homes away.

Is the mortgage default assistance a scam? - Don't sign anything with them or give them a dime until you have read my book!

Learn about the New Option to Stop Foreclosures called SHORT PAYOFF

And Much, Much More...!

Economic Downturn is Over!

noreply@blogger.com (suntango) — Mon, 20 Jul 2009 13:08:00 +0000

Drudge Report; http://www.drudgereport.com/is reporting today that your government is spending millions of your dollars, mostly borrowed and you are paying interest on, to buy the following:

SPENDING SCARED: WHITE HOUSE PUTS OFF RELEASE OF BUDGET UPDATE...
RECOVERY.GOV // AWARDED: $2,531,600 FOR 'HAM, WATER ADDED, COOKED, FROZEN, SLICED, 2-LB'...
RECOVERY.GOV // AWARDED: $1,191,200 FOR '2 POUND FROZEN HAM SLICED'...
RECOVERY.GOV // AWARDED: $351,807 FOR 'REPLACE AND UPGRADE THE DUMBWAITER'...
RECOVERY.GOV // AWARDED: $1,562,568 FOR 'MOZZARELLA CHEESE'...
RECOVERY.GOV // AWARDED: $5,708,260 FOR 'PROCESS CHEESE'...
RECOVERY.GOV // AWARDED: $16,784,272 FOR 'CANNED PORK'...

"Yep", I hope you at least get a ham and cheese sandwich out of the millions spent here!

On another note, it appears Obama is spending vast amounts of money trying to keep his vital records under lock and key. His campaign spending shows,
http://query.nictusa.com/pres/2009/Q1/C00431445/B_PAYEE_C00431445.html

Perkins Coie 688,316.42 -these are the guys sending nasty grams to other attorneys who have filed suit to force Obama to "prove" he is eligible to be president.

There is some other evidence that has surfaced in California that may prove how Mr. Obama payed for his college. To end the debate and expense, all he has to do is release these records.