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Foreclosures to persist
According to authors at the Federal Reserve Bank of Cleveland, the nation’s high foreclosure rate is likely to persist. The Fed article looks at the changes in foreclosure and unemployment rates across states, noting the differences in the timing of the movements. The conjecture that the high foreclosure rate will persist is based in part on the observation that states that experienced boom-bust housing cycles in the past (Texas, Oklahoma, Massachusetts and California) had elevated foreclosure starts for years after the peak in foreclosure starts and inventory. These previous boom-bust cycles “were small in comparison to the current cycle,” the article said. While the recession has left deep scars in the housing and labor markets — with the unemployment rate doubling and the foreclosure start rate roughly tripling — the timing of the movements differs over the cycle, according to the abstract, written by the vice president at the Federal Reserve Bank of Cleveland, and K.F., a research assistant.
In So-Cal every Wednesday morning there is a short sale workshop open to the public, allowing homeowners, agents, brokers or investors the opportunity to see and participate in how and why this has been changing communities across our nation. Join us this week or any week for a fulfilling chance at making a difference in the lives of others.
** When to seek outside investors to help fund your growing real estate portfolio so it’s only natural that we should also spend a little time talking about the pro’s and con’s of various investor types. Not every investor is created equal; the trick is to learn how to find the ones that bring the most value and the least constraints to the relationship. Here is a quick overview of the most commonly encountered types of outside investors and how each may play an important role depending upon your current needs.
1. High Net Worth, Experienced in Industry, Exceptional Contacts. This is the most desirable outside investor possible. Not only does this person have sufficient capital to invest but their industry and professional affiliations can open doors that would otherwise be ‘off limits’. Not only do you benefit from access to capital but even more importantly, learn from their experience and expertise while meeting the “right” people. However, preparation is essential and a wrong step could have dire consequences for years to come.
2. High Net Worth, Experienced in Industry, Related Contacts. This can be a win-win situation for those that are long on short sale or real estate experience but a bit short on cash; by teaming up with someone that has plenty of cash sitting idle you are able to provide the expertise required to put it to work. Often these persons have valuable contacts outside of real estate; for example, doctors, lawyers and other professionals. It may be necessary to provide extensive explanation and education prior to investing in order to put the person or group at ease.
3. High Net Worth, Experienced in Industry, High Contacts. Plain and simple, this is one of the most frequently encountered types of investors the novice short sale entrepreneur is likely to encounter; someone simply seeking a return on their money rather than watching it waste away in a bank account or the bond market. Although the money is often a welcome addition to your individual growth plans, it often comes with a rather steep price tag…a lot of oversight and explanation. Family member, retirees and small investment groups often fall into this category which can add even greater volatility to the equation.
If you know someone in danger of losing their home to foreclosure and need some professional assistance, do them a huge favor and give them my personal email::: 3feet2go@gmail.com I CAN HELP THEM!
The International Monetary Fund (IMF) warns that “the backlog of foreclosures and high levels of negative equity, combined with elevated unemployment, pose risks of a double dip in housing.” further support for foreclosure mitigation under the existing framework may be needed if the housing market were to weaken,” IMF wrote, adding that a worst-case scenario may include reconsideration of mortgage cram-downs within bankruptcy. The IMF noted that recent reform legislation emphasizes a return to “safe securitization” of assets like mortgages through greater oversight and accountability for ratings agencies, more transparency of the assets, greater emphasis on investor due diligence and “skin in the game” for originators. 
“Given the large role that securitization played in the past, and the potential limits to bank balance sheets for creating credit, speedy implementation of these measures would be essential to avoid limits on credit supply that could crimp the recovery,” IMF said. “It will also be important to coordinate reforms domestically and internationally to ensure safe securitization and promote a level playing field.” In the meantime, the housing finance system remains “costly, inefficient and complex,” according to the note. The IMF also recommended a clarification of government-sponsored enterprise (GSE) mandates and a privatization of their retained portfolios. Fannie Mae and Freddie Mac’s core bundling and guarantee business lines “should be made explicitly public,” the IMF said.
Please feel free to visit our Foreclosure Relief Page, to understand their are other options!
After a long day, one of the things you would be craving for is a warm long bath. A great bath tub can become your best friend at the end of the day. Many people upgrade their tubs with bath tub faucets to make it more delightful to use. Increasing the value of their largest investment, Real Estate. Nowadays, bath tub faucets come in all shapes and sizes so you have countless of options to choose from.
One of the newest things in this industry today is the touch faucet innovation. Some of the touch faucet brands in the market today are Delta and Kohler. The Delta 980T – SSSD is equipped with the latest Touch 20 technology and is one of the leading products in the market. The price of Delta touch sensor faucet in Amazon is $348. Listed at the original price of $585, you would be able to save around $40 when you purchase it in Amazon. It has a Pilar design which was inspired by technology and nature combined. It also features a Magnatite spray head to secure tight fit. Additionally, this product also boasts its Diamond Seal technology which utilizes an electronic valve along with a diamond coating, making it more durable and guaranteed to last a lifetime.
If you want a Zen-styled bathroom, a faucet Asian waterfall nickel sink would be the best way to go. You can find one in Amazon, like the model SV15, which is an oriental inspired bathroom sink and faucet that sells for $425. This product has marble sink which is handcrafted and a brushed nickel faucet finish. The sink is about 1″ thick and colored black and grey. The product includes a pop up drain and a limited lifetime warranty. Bath tub faucets with an Asian design will also go along well with a Zen inspired bathroom. Vintage themes are also popular. You can add vintage glass fixtures for bathroom or look for modern floor mount bathtub faucets if you want a contemporary, modern look.
For a modern styled bathroom, most people choose ceiling mount tub fillers or custom ceiling tub faucets with a contemporary sleek modern finish. This is one of the most unique kinds of bath tub faucets ever thought of. A bath faucet from ceiling mounts is a great statement of modern style. You can find the Kohler K922 CP ceiling mount bath filler at Amazon for $323.86. The product has a solid brass construction and a polished chrome finish for more durability and resistance to tarnish and corrosion. It has a 2 centimeter orifice and weighs about 5.6 lbs. This product can be used for dual purposes. Aside from filling your tub, it can also be used as a shower. The minimalist style is also the modern style so if you want this kind of bathroom, don’t overdo decorations and fixtures. Look for fittings that possess simplicity and clean finishes.
Bath tub faucets, no matter what design, should complement and match the overall look of your bathroom. Before buying a faucet that interests you, think about the kind of look you want to achieve first. Compare the different styles that you want and canvas on some of the things you need to buy. Remember, you don’t have to spend too much and hire a contractor or decorator for this. Just have in mind the right idea, and the great products to go along with it.
Is Drop in Home Sales Good News? Only if you want to thrive!
“For all of you out there who accuse me of perpetual bearishness, here’s a twist: What if the drop in existing home sales in May is a good thing? Try to follow me on this: Everyone expected home sales to surge in May because this Realtor’s survey is based on closings in May from contracts signed in March and April. The May and June numbers should reflect the surge from the now-expired home buyer tax credit. Well today’s report showed a drop of 2.2 percent in existing home sales, leading us to believe that this last government stimulus really didn’t do the trick. So what if it didn’t? Last fall the tax credit really juiced the market, pulling demand forward, so that we saw a huge drop-off in the months following what we thought was the end of the credit, which was then of course extended and expanded.
So now we’re not seeing the same juice, but the numbers aren’t terrible either. Perhaps there was no big rush, so perhaps there will be no big drop-off. Here’s what we do know: (a) First-time homebuyers accounted for 46% of sales in May (49% in April) (b) Investors accounted for 14% of sales in May (15% in April) (c) All cash accounted for 25% of sales in May (26% in April). So first time buyers actually fell in numbers, but investors and all cash (which are often investors) remained pretty steady. Investors, at least for distressed properties, are what we need right now to soak up all the excess inventory. Don’t get me wrong, I’m pretty certain we’re going to see a drop-off in sales. A lot of sellers probably got caught up in the idea that the stimulus would create lasting recovery, and so decided to jump in. Tomorrow we get the report on sales of new construction in May. That report is based on contracts signed in May, not closings, so it will give us an idea of just how ba
d the post credit hangover will be.”
Today wood flooring is making a great comeback for many years people have been replacing or covering there wood floors with carpet. Today’s choices in wood flooring have never been greater we will examine several differences between a solid wood flooring that was the staple for many years compared with the advantages and disadvantages of a laminate wood flooring.
Solid wood flooring has a few advantages over laminate. The first advantage is that it can be refinished over and over But has a floor becomes worn scratched or damage they can be sanded out stained and you have a new floor. A solid wood floor will truly last for a lifetime. A laminate floor which is constructed not of solid wood but has a fiberboard type base and a laminate covering that mimics real wood. A laminate flooring will resist scratching but cannot be refinished. Although laminate flooring will last many years if it is damaged it will need to be replaced.
As a rule solid wood flooring is much more expensive than laminate flooring it is also much more expensive to install because it requires much more labor. The solid wood flooring usually comes in strips approximately 2in. wide each strip has to be laid down individually and nailed in place with a special pneumatic flooring nailer. The whereas laminate flooring can be put down in larger sections the section simply snap together and can be put down rather quickly the typical homeowner can easily lay laminate flooring down in a weekend with only basic tools.
Laminate flooring however cannot tolerate a lot of moisture what happens is that the fiberboard backing on the laminate flooring will absorptive the water And swell the swelling will cause the floor to buckle the only recourse is to replace the floor. The solid wood flooring on the other hand will tolerate much more moisture. But if you’re not sure which way you would like to go with your new flooring solid wood or laminate I would advise that you go to your local home center or better yet a dedicated flooring store If they will be able to answer any questions you might have they will be happy to show you how to install your new flooring and they can even recommend some highly qualified contractors to install you flooring if you do not want to do it yourself. Whatever type of new flooring you decide on the warm classic look of real wood will add the feeling of warmth to your home.
Commercial Market Still Struggling
While the commercial real estate market may not have fully recovered, National Association of Realtors Chief Economist Lawrence Yun identified some developing, positive trends in the market that could eventually lead to recovery at the “Economics Issues and Commercial Business Trends Forum.” Yun said jobs only began increasing a couple of months ago and are still below peak. The commercial market has seen a few improving trends in recent months. The market is experiencing an increase in transactions due to more distressed properties available needing various levels of plumbing repairs IE., and prices are beginning to stabilize. Yun believes within the next year more lending will slowly become accessible to commercial property owners.
Two commercial sectors showing the most promise are manufacturing and multifamily. Manufacturing activity and employment have risen recently and because household formation is also rising, the multifamily sector will likely fare the best during this economy. Despite some of these promising trends, the commercial market is still experiencing high vacancy rates and rent concessions. “All real estate is local, but I expect to see vacancy rates bottoming out and rent rising by next year,” said Yun. He also warned against some of the possible risks commercial practitioners may experience in the future such as high interest rates and inflation, as well as increased taxes for commercial real estate investors. During the session, Yun was joined by two leading economic experts, Diane Swonk, Mesirow Financial; and Brendan Reilly, Commercial Mortgage Securities Association. The panelists agreed that an improving economy and job creation continue to be the two main factors when it comes to restoring the commercial real estate market.
* The 4 market cycles that all free market economies
go through, how to recognize when we are moving into a new
cycle, and most importantly, how to get rich in the cycle we
are in and the coming cycle.
* Discover the 3 real estate niches, and learn how to utilize
all 3 niches to create long term wealth in real estate
* Long term wealth in real estate is not made flipping every
house you short sale. It is made owning real estate. And
owning real estate is simple and easy when you have the right
systems in place and learn how to do it. In fact, it is easier
than flipping a house to an end buyer.
* Why he believes Cash is not king, Cash Flow is. And he will
prove it to you.
* Learn how to safely and quickly remarket properties for
above market and have the buyer not even blink an eye… You’ll
even learn how to make the buyer completely ecstatic with the
deal and take care of the house like an owner would.
All this is possible in the real world once you understand how to leverage your tools for growth and nail down any future chances of getting an education in the market of a life time…….
City, county and states vary with there code requirements for a justifiable answer to ” what is a fire wall”. And exacts are not always given. In a multi-family dwelling these codes will fluctuate as well, depending on what year they were constructed. Ultimately this system of constructing a building that has a definite form of separation is in fact where the fire wall(s) are located, between units of habitable space. Condo’s may have them and some apartment structures may have them as well. Most likely a true fire wall can be noticed from the street the building is on. And knowing how to spot them is the key to a successful venture into managing your CADS. ![attic firewall construction [condo]](http://www.my-diy-blog.com/wp-content/uploads/2010/04/thumbnail-2.jpg "attic firewall construction [condo]")
A one hour wall typically consists of a single layer of 5/8″ drywall [gypsum board] for meeting code requirements. If a building has an attached garage, the the inside of the parking garage area must comply with a minimal fire rating of drywall with any proper electrical components involved. A two hour fire wall may often require a double layer of 5/8″ drywall or sheetrock on the garage side to accomplish this rating. Drywall compressed gypsum is considered to be fire resistant and allows ample time for the UBC safety laws, to extinguish any flames before moving [burning] through to the next area, therefore lessening the damage, it can potentially cause. Are you a CADS manager?
A dormer is a structural element of a building that protrudes from the plane of a sloping roof surface. Dormers are used, either in original construction or as later additions, to create usable space in the roof of a building by adding headroom and usually also by enabling addition of windows.
Often conflated with the term ‘dormer’, a dormer window is a window set into the dormer. Like skylights, dormer windows are a source of light and ventilation for top floors, but unlike skylights (which are flush with the roof surface) they also increase the amount of headroom in the room and allow for more usable space.
A blind dormer is a dormer that can only be seen from the outside of the house: it’s roofed off on the inside, and doesn’t provide any extra space or light. These are often used to make the house appear more impressive.
A dormer will often be one of the primary elements of a loft conversions.