Contributing Member of the Real Estate Councils

GLG News by this Author

Be it ever so humble, new home mortgages @3.99%

February 12, 2009

Analysis of:Toll Bros. offers 3.99% 30-year loans | money.cnn.com

Markets could heal themselves with innovative products. Given time, the strong buyer will step forward and be rewarded with incentives. Politicians have no clue. Allow new home builders to act as a catalyst. Lower rates for qualified buyers, that is a housing market.

Geithner the Aggregator, Treasury Secretary gets it….

February 9, 2009

Analysis of:Bank Bailout Plan Revamped | online.wsj.com

Public Private partnership giving toxic assets a chance to find value. This  is not a bail out. Credit will thaw and start to find responsible borrowers waiting. Treasury Secretary Shows leadership and knowledge.

Practicing Mortgage Brokers drop off, follow market contraction.

February 6, 2009

Analysis of:Mortgage applications plunge | money.cnn.com

Mortgage marketplace downturn, time to purge the system. Irrational lending practices and mortgage business models.   What qualify these SALES agents to provide financial services? Loan Applications fall off, thank you qualify to buy. Mortgage services should remain close to originators.

"Financial Gravity" The Science of Lending.

December 22, 2008

Analysis of:Financial Gravity, Needs to be accepted again. | daviddephillips.wordpress.com

Lets get back to financial gravity as a rule of lending. No more no loan docs. or liar loans or no credit FICO reports.  Resets are not the answer to the cascade of mortgage failure. Pouring Capital on the problem is not the answer, getting back to basic laws of lending will heal the wounds of this credit amputee.

Ctl-Delete Atl-A lenders! Not holding back the Sub Prime down slide.

July 30, 2007

Analysis of:American Home Mortgage hit by margin calls | www.marketwatch.com

The Alt-A Lenders I thought would be the levee which held back the erosion of the sub-prime meltdown. Mortgage stocks sold off Monday July 30th 07, after American Home Mortgage failed to make a dividend payment. The news sent down shares of other primarily Alt-A lenders, such as IndyMac dropped 5%, Impac Mortgage fell 12%. Countrywide Financial the largest independent mortgage lender, dropped 2%. Luminent another mortgage-related company, fell 3% Monday even after it reaffirmed its dividend plans.

Has the 80/20 rule apply to today's real estate firms?

July 27, 2007

Analysis of:NAR Member Profiles | www.realtor.org

Have the agents truly taken advantage of new technological changes. Do the current agent population understand the affects of the internet and possible new applications provided by search providers? Are Brokers/Owners/ Franchise Brands on the forefront of the market uses for home purchase. Will training and agent selections address marketing needs for local firms.

Will the Sub Prime Crisis be diluted?

July 27, 2007

Analysis of:Home Sales Dropping | www.itulip.com

32.6% of new mortgages and home equity loans in 2005 were interest only. 43% of first-time home buyers in 2005 put no money down. 15.2% of 2005 home buyers owe at least 10% more than their home is worth. 10% of all home owners have no equity in their homes $2.7 trillion in loans will adjust to higher rates in 06/07 70% of borrowers who took out pay-option ARMS in the past year have loan balances larger than their initial loan. According to Reality Trac, foreclosures up 53% over a year ago. The number of homes for sale is at record highs, and inventories are higher than a year earlier. The house price-to-income (rents) ratio is off the charts. According to HSBC, in 18 states accounting for over 40% of national home values. Nationally, home prices have not declined on a year-to-year basis since 1933. Recently, prices have been dropping in the North East, West and Mid-West.

Ability to Borrow for Home Ownership overlooks Insurance cost.

July 27, 2007

Analysis of:Home Ownership Insurance cost overlooked in Ability to afford a home. | pricedoutforever.com

Key Implications. Ability of borrowing overlooks the soaring insurance costs. Home owners and renters housing cost facing huge increases as a result of increased insurance premiums. In some cases more than 10 times what they paid last year. Casualty insurance cost will be a factor in home ownership.  The replacement cost continue to rise regardless of slumping prices.

Orlando's a Mouse Trap

October 25, 2006

Analysis of:Supply of Homes on Market Takes Dip | www.rismedia.com

Competition for tourist dollars provides other alternatives to relocation.

Prices continue to reflect a cost to develop, without support growth at any cost.

Speculation has moved on.

This is what a buyers market looks like.

Factory built homes still rolling out

October 13, 2006

Analysis of:Your Next Home: Custom or Modular? Factory-Assembled Homes Surpassing Stick-Built | www.consumeraffairs.com

Factory assembled homes contribute to affordable housing.

Factory assembled homes satisfy this generation of home owners time to build attitudes.

Productivity using manufactured technology contributes to affordabiltiy.

Quality control plus savings in time and cost.

Site selection for finished product may contribute additional cost.

NAHB Forecast. A more orderly adjustment in the housing market.

October 9, 2006

Analysis of:NAHB HOUSING DOWNSWING TELECONFERENCE | www.nahb.org

Housing adjustment taking place not as catastrophic event as being portrayed.

Pull back to 2003, a banner year in it's own right.

Housing activity and valuations to adjust in selective over loaded markets by Overvaluation of 35%.
 
Mortgage Equity withdraws was not driver for consumer spending

DOJ Dogs Realtor Association

October 9, 2006

Analysis of:DOJ Lawsuit against NAR Moves Ahead | www.isucceed.com

Prepare for a major tug of war.

Affects to weigh strongly on Internet Brokers.

Justice attorneys claim association's policy governing the display of MLS listings on Web sites is unlawfully anticompetitive.

Department of Justice suit against NAR’s policy governing the display of multiple listing service information on brokers’ Internet sites.
 
NAR  has made provisions to change policy but have been rejected by courts.

Home Price "Booms" Always followed By "Bust"?

October 6, 2006

Analysis of:Are Home Price Booms Always followed by Bust? | www.fdic.gov

No! And, nationally, home prices have never declined.

According to a study released in May 2005 by the Federal Deposit Insurance Corporation (FDIC), most local market price booms in the past were followed by periods of price appreciation slowdowns that allowed other economic factors – including household income and housing supply – to catch up. Check out the study, Historical Evidence of U.S. Home Price Booms and Busts 1978-2003 for more detail on the subject.

Zillow's open door to real estate owners will not assure accuracy?

October 6, 2006

Analysis of:Zillow Lets Real-Estate Owners Add Their Own Estimates | www.informationweek.com

Home Owners Attempt to influence valuations will not add to accuracy.

Qualified appraisal will still be needed in home sale process.

No longer: Land of Newly Weds & Nearly Deads.

September 29, 2006

Analysis of:Families Flee Florida | online.wsj.com

Florida's economic and social demographics have changed over the last 30 yrs.

Not as dependent on retirement and tourism.

No longer the paradise Icon of the 50's and 60's
 
Diverse Geographic distinctions catered to National Population.

Retiress and tourist have more choices to select in other parts of the nation and world.

Home Ownership Blown away by cost of Insurance.

September 27, 2006

Analysis of:High Winds, Then Premiums | www.nytimes.com

Ability of borrowing overlooks the soaring insurance costs.

Home owners and renters housing cost facing huge increases as a result of increased insurance premiums.

In some cases more than 10 times what they paid last year.

Casualty insurance cost also a factor in home ownership.

This Bubble has many facets.

Home Sick Mortgages.

September 21, 2006

Analysis of:Mortgage Bubble Bust | www.marketwatch.com

Ofheo, Fannie's regulator, has noticed company increased its sub prime exposure in recent years, not an enormous part of their business but it has been increasing. Ofheo report due out later this year is expected to show Fannie’s sub prime exposure is moving up.

Gilchrist Berg founder of $2billion hedge fund firm Water Street Capital said in recent newsletter to investors that Fannie Mae could lose $22-$29 Billion if foreclosures increase to 6%-8% Berg said it's not implausible that 15% of Fannie's mortgage exposure is sub prime. That’s more than half of the roughly $40 Billion in capital Fannie had at the end of March.

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