Back to Good Old Days? This Arizona House Up $380,000 or 400% In 5 Months?
** Zillow's Comment **
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Hi Ed, it's David from Zillow, Please e-mail me the address and I'll let you know what's going on here. Thanks, David (d AT Zillow DOTCOM) |
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*** My Reply ***
Sorry, I am unable to release the information due to the current situation. When the situation settled, I will give you the information you need immediately. BTW, your Zestimate has gone up again for anotrher $15,500 in a week, from $482,500 to $498,000.
The subject property attracts me now after I run into it and run my numbers. Tell you what: I would like to buy this property if someone in AR could give me a hard money loan of $30,000.
Tell me how much interest you want from me, I will pay you back the loan in a year with at least double security of my purchase price, i.e. 50% LTV or more. Say, if I buy this property for $50,000; I will come up $20,000 out of my pocket as down payment. In addition, I will put something as additional collateral or walk your loan to other properties or assets of mine, at your choice, to make your LTV lower than 50%.
What you folks think? Are you ready to take my challenge?
NOTE: Please don't say I "beg" for your hard money loan. As I mentioned earlier, I don't need that money since all I have to do is giving my credit card a call. This other people's money is in my account. The job is well-done in one day. Then, why do I bother doing this? I like to be a mentor who does it "all the American Poor Folk's E-gold" way while you are watching to see the power of my formula and how it happens.
Okay, I confess. Tell you a little bit more behind this. This morning a guy "Ryan" called me. He tried to further sell me the "Tom" short sale secret, I bought Tom's material before at $10 and finished my reading on his book and two CDs in one day. I concluded that his formula was nothing new and would work in a very tough and difficult condition with pretty much narrow application in situations. So it is not for me, a easy, lazy and "chicken (conservative)" guy.
I politely said, "I would buy your program if yours is better than mine or can solve my doubts about pre-foreclosure investing." My reason to buy the material is I am old enough to know there are so many approaches to do real estate investment. (NOTE: Depends on the locality and situation, some work and some don't. It is much difficult for you to do "wheel deal" in California or Texas. It is very good for rich people to do "tax shelter" strategy in 1970', but no longer good after and disappered after tax code changed. Do you notice that Obama-Gaithner homeowner's hope is trying to do the same "tax shelter"strategy and applies it to average American people? Can it be done by the switch from rich to the so-so? Based on what assumptions it could be successful? You are the judge.)
I love to keep my mind open to all the options, possibilities or alternatives. I want educate myself or being updated about what other folks are doing and how well they have accomplished in real estate as a poor folks. But clearly I don't get the answers to my doubts on preforeclosure deals. Tom's formula can be an effective tool if other factors fall in place; but in fact it has its limits, very difficult to do for me, let alone an average Joe.
Ryan guaranteed that I could make $200,000 every month. The advanced program is 100% no risk. No money out of your pocket using OPM (Nowadays, so many so-called "birddog" programs has developed so that we have to be bothered by those pretening as a professional. I am so sick and tired of this new style or breed of telemarketing that I put "serious principal only, no birddog please" in my free advertisement.) He advised that I would miss the Tom's "magic" way to make money in the world that nobody knows how to do it so easily with so huge profits compared to none.
I replied: "One of the best ways to make money is to be an executive working for a Wall Street security firm. They mess it up and still get their millions bonus dollars with no obligation or guilty." Also, I compared the return rates in those real cases Tom has done, Tom is not even close to mine. Why I switch to his?
We ended up in arguments, this telemarketing guy who appears to me an novice in the field even dared to tell me that "you don't know about short sale." So I would like do something like Robert Allen did in his book "Challenge" to show how easy my "APFE-gold" formula could be done by an average Joe.
Feds unveil plan to sop up bad bank assets (AP)
AP - The Obama administration, striving to ease lending in the struggling economy, moved Monday with private investors to sop up bad bank assets. The administration said the program could grow to $1 trillion in purchases eventually, if it proves successful in attacking the bad-books problem that has been at the heart of the banking crisis.
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Recently I have kept saying "please do governing, not managing." Did I hear someone say that today?
Well, what? Anger isn't governing strategy! I fully agree anger is of no use since I expressed my frustration about nationwide "blaming" is a crazy baloney phenomena. Thank you, Obama, for your agreeing with me.
But, what did Obama tell? Anger isn't govening, Then did he tell us what governing is? Does he tell us what governing is all about, doesn't he?
One year ago, Hank Pualson would like to implement his "TARP" plan to buy "bad assets" from banks. American people stop him right before election! Those politicians stop talking about buying bank notes since they did need votes, not irritation anger from voters. After Obama took over the administration, there came out their beef some called it "TARP II." Yes, TARP II made a more soft and arrogant posture trying to give us some phony "hope" to expect relieve the pain of people by tax credits or rebates.
After the same Wall Streeters in White house gave us the first "improved" TARP II to switch and bite our people's focus on the issue. Now they try to bring out Hank's left over (NOTE: the original "TARP", what TA stands for?) and want us to enjoy it as a good entree in White house.
Why Hank, Ben, and Tim would like us American people pay the check for the louzy "gourment" cuisine on dinner table out of "White House Kitchen?" Why they are cooking the same dishes in the same recipe as an identical chef, so insisting and anxious that they would force us to eat up "toxic notes", CDS, or CDOS?
Very good question for us to have a deep breath to see where is the beef!
So many things I have observed. But it is difficult to put all of them out in a good short article (because we Americans don't have much patience to read a long one.) I'd like to point two things very conclusive here:
1) Under Hank and Tim, we set a record straight to break some fundamental key game rules that a free market needs.
One of them is "a financial institution such as a bank is NOT allowed to practice real estate activities" which our NAR, National Association of Realtors, persists to hold intact. Now, almost all the financials do it. Without a change of congressional legislation, not only a bank or an investment banks (they are used to be under SEC regulation and investors in fact) but also those GSE such as Fannie (they are used to be in secondary market and perform home loan purchase) are IN the real estate business. The do all kinds of sales or perform as a landlord to manage their properties in substance. Whenever I see an agent putting out a topic and name it with "how we can let a banker cooperated in short sale approval." I am laughing out loud. How could you do that, if there is no market "incentive" under the old regulations for a banker to do a short sale?
2) Yes, Mr. President, anger isn't a governing strategy. But I am sorry, all I can see from your statement are negative (passive) reactions to situations. Can you clearly and actively tell us what it is or shall be your governing strategy?
I will tell you that one thing I am 100% sure is "Buying toxic bad loan isn't a successful solution to the current economic mess." Further to say, you are "driving" us into an Oop Depression if you keep thinking buying those toxic stuff is a good idea.
Don't blame me. I have done nothing. It is simply a sure thing to have Depression if you are under intoxication. No matter whatever you take in: wine, medicine or a piece of note paper, it is considered the same as a crime of DUI by law. Well, time is changed. You have 4 years to drive us without fear of people's power such as a recall or "tea" party after dinner. So here we go at your mercy, DUI President!
Even I know there is no housing bubble burst if there is a housing booming and there is a happy party in those "prosperous" Wall Street penthouses as Madolf's. Almost everyone says housing busted is the core reason of the financial meltdown. But once it bursted, the only way for our wishes to go back to the prosperity is to "inflate" it back, right? A piece of paper burned into ash, the remedy is to pull water on it to restore it to the previous condition as Prince von Metternich did by "legitimacy" to stablize Europe after the Napoleon War. Humm, good thinking out of human instinct. So simple, I love it but I am not so smart to fully grasp the underlying Obama's reasoning assumption.
May I have your wisdom and transparency since I have doubts as a humble American citizen to ask your answer before you are still having some clear mind, not 100% intoxicated? Please tell us why you are up there trying so hard to keep the old "glorious" house buble from deflation, i.e. literally want housing price intact or flying up in the sky beyond Mr. Joe can reach while you keep claimed yourself a DEM socialist who are looking for some benefits for the poor such as "affordable housing?" (NOTE: it is called "charity distribution" instead of "productive growth" in political economic theory.)
Fed to buy up to $300B long-term Treasury bonds (AP)
Five reasons to buy a home this year
Market meltdown refutes 'efficient markets' theory
Great! I am totally amazed, but puzzled.
What "to buy back treasury bonds" used to mean?
If my understanding is right on traditional science of economics. That shall be interpreted as: To print more paper money (that will cost FED 4-5 cents each paper or note called American green buck, a "fiat money" or "digital money" stored in a computer register without a hard copy of print and cost almost nothing to Fed.)
That's right, in theory, we should have more money supply or credit liquidity.
Then what shall come next to your brand new bill? The most obvious result is the green buck loses its real purchasing power almost in every fold in such ways like "
Then what could be next? How about Inflation? Gas pump price? China trade? Well, I will leave you guys the first two questions for you to answer.
As to China?
China, just downgraded last night by World Bank giving an estimated 6,5% of growth to down play China's official expected 8%, shall have more confidence over the outlook of export to USA. But who knows how the international commodities react to this Fed announcement.
Wal-Mart shall be very "happy" since they have 5,000 Chinese suppliers out of its 6,000 vendors.
Great! Stocks soar immediately March 18, after the FED release around 2:30. That was interpreted as a rescue in terms of bond market! But, what would be perceived in the stock market if FED simply said it would upgear his printing machine to print more money, not to mention Treasury bonds?
Which way Dow would move? Up North? Or down south?
NOTE:
This article had been stored in AR as a "draft" for 2 days. I have had no "incentive" to release it or even speak on other topics related to finish it. After I saw the article "The Real AIG Conspiracy," I just release it ONLY to serve as a TLC warming to my fellow agent friends to be very careful and use your good judgement.
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| 2009/03/17 23:15:57 瀏覽3｜回應0｜推薦0 | |
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Housing starts surge 22% in Feb. on apartment building By Rex Nutting Last update: 8:30 a.m. EDT March 17, 2009WASHINGTON (MarketWatch) - Boosted by an 82% increase in construction of apartment buildings, U.S. housing starts surged 22% in February .... Economists had forecast a further drop to 456,000, despite an expected surge in multifamily construction.... Permits for single-family units rose 11% to a 373,000 rate, the largest percentage gain in 18 years.
*** My Two Pennies ***
What a good morning! Great news hit me once I waked up. That is what I want to hear so desperately since I am in housing business. But,... Let me clear my thoughts a little bit more at this early morning. Look how much a share of Citi increased last week? As of March 9, it was $1. Next business day, news reported a great wonderful news. It gain big and increased very sharply. Really, there is no lie; it is true: a big jump! How big it is? A big Sixty Seven percent increase in one day! It is a good news everybody want to hear. Have you heard a day jump of 67% in the history of Citi. Never! Well, form another perspective, let's change the way to ask: how much it increased in terms of dollar amount? Sorry, it is not even qualified as One dollar, it is only 67 cents in fact. Then, how many times in the past you could find a share of Citi increased more than $1 in a day? In those good old days, who was going to scream out "Citi jumps 67 cents!" as a big surprise or glorious rally? Probably you would say: "what's the big deal for cents?" As of this morning, March 17, Citi has accumulated 138% increase in 5 business days. Everyone would drop his mouth if Citi could have this GREAT JUMP percentage when Citi carried $50 a share before October 2008. That's just 6 months ago, who cares about this stock price up 67 cents or $1.38? Well, some people are out to orchistrate an aroma of hope spreading optimism on the outlook of our economy as putting a big red lipstick "rising star" on Mao's Communists' regime in the early 1950'. Sure, we need a cheerleader to light us up in a difficult time or when we are down. Great! we do need that kind of sentiment not only for the stock market but also for housing market. Now someone is up over there! But we have to be very realistic to avoid getting hurt as those Chinese people did expecting a good days to come when they put their hope on the so-called "New China." So get serious and go make a reality check: How much inventory do we have now in US housing market? Isn't it just like we read a report that we have the biggest inventory in history last night? Could those huge amount of surplus disappear overnight, i.e. sold in just a few days or weeks? Why all the big guys won't release their REO holdings fast enough to list them on the MLS service as the head of RTC suggested? (NOTE: No, the new REO infusion to the listing seems idle to me, if not a total halt. While we have had a big long time increase of foreclosure activity recently, we don't see much new REO listings, except a few banks such as W*** bank who are in normal or aggressive (anxious) mood. Those old listings remain its price sky up for 6 months without a bit reduction in some areas. There are something that can't be understood by a capitalist's economic theory of free market.) Why they allow those REO piled up in their books, i.e. letting those "perishable" goods sit on street in vacant condition with minimum of tender loving care. They are left alone to be deteriorated and ruined by nature (NOTE: I found some REO properties sit there with no "sale" sign for more than 500 days) or losing their true"market" value day by day. Let alone a waste losing value in our national wealth book? Why our government authorities loose up (or "choose not to enforce it" as Senator Schuman talked about FDIC operation on Indymac or as Pres. Obama hinted or suggested when he signed the Pelosi's $410 billions spending plan into law) their normal regulation on the ratio how much a banker could take in its REO on its book? Is it as low as our FED interest rate: near 0% so that bankers can rack in as many REO as they want, literally with no limit? That would explain why it has been getting more difficult to do a "short sale" for an agent? Is there a plot or factor for all of those VIP to work together to stop housing falling and keep pumping air to keep US housing price flying in the sky not like Harry Truman said "let the dust rest"? If you are serious enough, you would laugh out loud at people or our congressmen who are so angering at "AIG's distribution on bonus or compensation." Why? they have focused (or been switched) on something cost them just $1 and make their President Obama swore to "block" the loophole. (NOTE: Since those money went into cat's pocket and we are ruled by law or contract, how could we expect Obama do something about it legally to get our money back?) Why they didn't pay attention on two or three news reports in the past 3 days telling us there is $999 at big risk. Probably someone don't want us to face the $999 reality and would like keep us shopping for trivia items at a 99 cent store. If you don't see this mentality of "penny wise; pond stupid," allow me give a hint "CDS" which bites the biggest chunck of AIG payout. Still can't see it? Okay, google in the term on internet. See what it is and what is going on in the near eyesight on LP (the WHOLE LARGER PICTURE.) Based on what you could find, judge them yourself if the 18 month recession could be over as Fed chief Bernanke said. No matter what, keep in your mind the saying "Figures don't lie; people figs."
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One thing that we know how to do as a nation is provide housing for prisoners:
Very sadly interesting to see the table "USA is the world leading Jailer."
Well, it reminds me of a report. "Of course, with 2.2 million people in US prisons, that means there is about 1 lawyer for every inmate." http://en.wikipedia.org/wiki/Prisons_in_the_United_States#Population_statistics.
Don't even want to further discuss the relationship between our GDP which is more than 50% of the world GDP and our lawyer population. Well, what a coincidence! We happen to have 50% of the world lawyers, too. Are they create the same contribution into our GDP?
On the paper as Bernanke said "bailout money is not directly from taxpayers," our lawyers did push up our GDP into much higher numbers in PAPER. In fact, their income is not a creative or productive property in our national balance sheet. It should be treated as a "passive" or "business costs" ("debts" as a "non-performing asset" in a banker's book) to our GDP in terms of real national production or productivity growth.
I remember a report that Washington state had a biggiest public construction project in the past 10 years: state prison. That's right it was where the biggest public money spent in Seattle area in 1980'. There was a report that prison riot took place. Why? Because they don't have a color TV in each room, only black and white one.
We spent about $60,000 on each prisoner per year, since we would provide the most humane treatment in the world. Yes, we are more modern and civilized than China. But, I am just wondering how much our average Main Street Mr. Joe could bring home to put breads on the table? Is it a median household income of $46,000 for the "whole" family? What kind of reward and punishment system we have?
It also refreshes my memory. When I was stationed in Seattle, WA in 1980' as a foreign service officer. There is a report that a street people breaking a shop window and what he does next? He did nothing else, just sitting on the curb of street and waiting. Waiting? For what? He is welcoming a police to arrest him? Why? Because it is so cold and he is hungry in the cold winter; and all the charity shelter is full. He wants to be creative enough to have a shelter. He finds the creativity out of his instincts given by God to survive: by getting into jail for free "social security benefits"
Trust me! God created us. He also gave us the power of survival. So, don't be so desperate to kill yourself or your family as I read some reports telling the US suicide rate is surging. There is always a better solution than suicide since nothing could be worse than that.
I am with you wondering what kind of country we have building so far after our ancestors voted by their feet and moved into this NEW WORLD. Did we fail the wishes of our founding fathers?
It is also so different in 50 jurisdictions on "this new world." Please don't generalize enough to say everything is the same. Tell you that Texas is booming, i.e. with its cities in the top three job markets now (just as the old day's saying: "go to Las Vegas, you can always find a job if you are unable to find one in California.") and being the first exporting state in USA, and foreclosure rate is going down (certainly housing price is appreciating).
However, I quarantee you that there would be nobody in Mercedes pulling up to a recycle center in Texas. Why? Because Texas politicians have a easy and simple mind, or should I say "not so liberal," "socially green" or "well-managed," there is no such a tax to create "CRV" in soft drink's cans or bottles. No value added is no value or need to spend gas and time to recover the tax charged in advance. Save time to everybody, right?
Reading and watching what Fed head Ben Bernanke said last sunday, there are so many pennies coming up in my mind. One of them is caused by Bernanke's words mentioning "historic lesson" of the Depression. Gee! he lead me think about Napoleon, the French self-made Emperor:
By comparison of what Ben Bernanke have in his mind, I could imagine what could be the main factor as said by so many scholars leading to the "meltdown" of Napoleon's Empire in early 19th century: A trade boycot against British. But, I am really not in the mood to speak out. I run into a comment made at MarketWatch.com as follows:
"If your neighbor is out of work it is a recession. If you are out of work it is a depression. If Bernanke is out of work it is a recovery."
What A Nice and Neat Comment by ereilad! I love it!
*** One More Penny ***
U.S.A.: There is one lawyer for every 265 Americans.
Are you telling me that in USA about 80 families have to support 1 attorney's family to have a decent life?
Are you kidding me? After California government takes off 10% our anunal meidian household income in the name of property tax only (Yes, tax rate is just 1% per Proposition 13. But how much money you have to pay? That's right, it is more thant $6,000 or 10% of what you earned a year in the past 3 years), those lawyers bite another 1.25% off your pizza pie (assume their income are not form offshore).
Now how much left for you to pay mortgage payment, food, car, utility, cloths, let just ignore all the junk Federal taxes? Under this increasing tax situation, how could our upper class or politicians dare to blame us by accusing Americans of "spending too much, not saving enough."
What do you expect us to save for tomorrow's pickle if there is not enough vegetable for fresh-eating today? (NOTE: In the poor China, they express it by saying "青吃不夠﹐還想曬乾﹖" Even I don't make a long-distance phone, my basic bill would jump up from $10 into $21 per month. Look at those tax items of your long-distance phone bill if you don't realize how much those junks could be and how creative our public servants we are lucky to have are.)
P. S. Almost everyone points out his finger at bankers or mortgage brokers for the mess of housing bubble. It seems nobody is willing to discuss the real huge property tax burden that makes a home owner suffered even much worse, particularly for those retirees in Florida whose property tax increased 3 or 4 folds to let them down in foreclosure.
Those retirees did nothing, no sale, no purchase, no market flipping or speculation at all, but they are victimized by county officials charging more and more by so-called "assessed system," no matter how stable and of no change their income is.
Why nobody, including the kindest lady Sheila Bair of FDIC, is going to speak out and asking "property tax relief or modification plan" from Obama as she did to those big fat cats?
Excuse me, I know the game rule: it all depends where you put your ass on the grass of your yard, right? Oh, well, I don't mind to put it more politely: it depends on which side of the table you sit. But it is me who stands up (sorry, no seat reserved) in the middle of the table? I know it is hard, tell me what should I do?
As Ronald Reagon forgot, I don't remember anything. Did I work there in that little white cloudy house? Are you sure that was ME up there? How come I am down here? That's definitely not me!
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