U.S. Treasury Secretary Timothy Geithner said Tuesday (3/2) that future mortgage costs will rise after reforms are completed to the national housing finance system. Geithner said it will take years to complete an overhaul of the system and to wind down Fannie Mae and Freddie Mac. He said housing markets were “still in a very difficult state” (more…)
Geithner: Housing Reform Will Boost Mortgage Costs
Wednesday, March 2nd, 2011Commercial Real Estate: Hope on the Horizon?
Wednesday, September 1st, 2010New York’s Stuyvesant Town in default, massive General Growth Properties succumbing to bankruptcy, Las Vegas’ mega-project CityCenter barely back from the brink. High-profile commercial real-estate blowups just kept coming.
Even playing host to a high-profile PGA Tour event and to Tiger Woods’ televised mea culpa in February couldn’t keep the owner of the Sawgrass Marriott Resort in Ponte Vedra Beach, Fla., from filing for bankruptcy protection a month later.
And for each multibillion-dollar failure, there have been hundreds of smaller commercial defaults on hotels, offices, shops and apartment complexes that didn’t make the national news. (more…)
Dave Says: Get out and Do Something
Wednesday, September 1st, 2010Dear Dave: My husband was laid off three months ago, and I’m afraid we’re about to lose our home. I’ve been working three part-time jobs to help keep our heads above water, but he says the economy’s bad, and he’s waiting for the “right” job. The bills are piling up, and I don’t know what to do. —Paula
Dear Paula: When a guy loses a job, it’s a devastating blow. Many guys are task-oriented, and define themselves by what they do rather than who they are. That’s not a good thing.
When I went broke several years ago, (more…)
Retirees Cross Borders to Find Richer Lifestyle
Tuesday, August 31st, 2010To live the rich life expresses a goal for most of us, but unfortunately it has become an elusive dream for many modern-day retirees.
Today’s retirement living involves more than just leaving a job; it’s the beginning of a new chapter of life. Many baby boomers have hit their retirement target age and are eager to say goodbye to the employment ball and chain and hello to leisurely pursuits of travel and recreation. Others have been forced into early retirement by business restructuring and budget cuts but are none too optimistic about reemployment prospects. (more…)
Land Trusts–The Answer to Flipping Short Sales?
Friday, January 8th, 2010In today’s real estate market, trying to flip short sales can be problematic.
First, the seller’s lender must approve the contract of sale, which includes approving the buyer. If the lender smells a flip, the contract will not go through.
Second, the end-buyer’s lender likewise will not allow it. The new lender requires a “seasoned” title. In other words, the property deed must already be in the investor’s name and recorded at the County land records for a period of time before the lender will loan the money.
If the investor has not yet gone to settlement with the seller, how can he satisfy this requirement? A land trust may be the solution. (more…)
Why Now Is the Time to Buy Real Estate
Friday, January 8th, 2010John D. Rockefeller, considered the wealthiest man in modern history (with an estimated wealth equal to $318 billion in 2007 U.S. dollars, according to Forbes), once said, “Buy straw hats in winter.”
The point Rockefeller was making is simple—buy when others are selling, and sell when others are buying. But that’s a whole lot easier said than done, right? Only the confident and courageous move against the herd. (more…)