Tuesday, June 30, 2009

Housing News

Rates for 30-year home loans edged up this week, remaining above record lows reached over the spring. The average rate for a 30-year fixed mortgage was 5.42 percent, up from 5.38 percent a week earlier, mortgage company Freddie Mac said Thursday.

Sales of existing houses came in on the upside for May, with a 2.4 percent increase nationally over the month earlier. That's the first consecutive monthly gain in resales in the U.S. since way back in September of 2005. But then again -- last month also saw sales of newly-constructed houses fall by six tenths of a percent, as low-priced foreclosures swamped the market and pulled buyers away from builders' showrooms and subdivisions. Meanwhile, prices in both the resale and the new construction segments continued to head downwards. According to the National Association of Realtors, the median home sale price in May was $173,000, 16 percent below what it was a year earlier.
The number one reason for the drop was the heavy presence of foreclosures carrying rock-bottom prices in many markets. Foreclosures present a different phenomenon than I have seen in my real estate career. These great new deals have presented a dynamic between buyers and sellers that I have not seen since the real state boom of early 2003.
This difficult task is acquiring these listings from Asset Managers or directly from the banks. We were forced to establish a business entity between my real state company, a mortgage company, title agent, attorney and turn key contractor to facilitate any property under any condition. This coalition has yielded 43 transactions this year. we are poised for a strong second half of the year. Stay tuned.

our boys are coming up or are they?

Today was the day that our fearless leader has promised that our troops will leave major metropolises in Iraq. we will no longer have a large presence in cities like Kirkuk and Baghdad. There has been wide spread contempt for the previous administration even telling us into this Iraq war. We should have never have been there or meddled in the affairs of a sovereign nation of Iraq under the tyrant rule of Hussein. Some would even say that Iraq is not at a better place now then when we entered Iraq. The loss of life has been too high for a people that are not thankful for our financial and military assistance. these thought patterns blow my mind.

How can one person think that Iraq is not in a better place than they were prior to the invasion?

Even our current president acknowledged the success of American forces in Iraq. There was of course people who would seek to destroy the milestone foe Iraq. 26 people died in a car bombing in Kirkuk. The president called the day a significant milestone, marking progress and responsibility for the Iraqi people. He referenced the celebration in Baghdad as a positive sign and a symbol of U.S. forces' courage in the region. Our generation has suffered but nothing like previous wars that captivated our nation. There were no "meatless Wednesdays" like in the World wars but our people have continued to be split whether we deserved to be in Iraq at all.

what do you think? The Iraqis called it Sovereignty day but you draw your own. A free Iraq full of sovereign officials and an infant democracy.

Bernie Madoff didn't make off as good as he thought

Bernie Madoff has been sentenced to 150 years in jail. He is the culprit for the most brazen ponzi scheme in history. He also was ordered to pay back $170 billion in restitution. The massive Ponzi scheme run by Madoff since at least the early 1990s demolished the life savings of thousands of people, wrecked charities and shook confidence in the U.S. financial system.

U.S. District Judge Denny Chin received over a hundred letters addressing the trial and not one of them was a positive letter regarding Madoff. They were all letters of people that bought into this ponzi scheme. The Sec was alerted for ten years regarding the illegitimacy of Madoff Investments. Madoff continually paid our 12 to 14% interest to his investors without ever having a down year. This is just impossible and the failure of the financial governing body to rectify the situation is an abomination.

Madoff was given an opportunity to address the clients of whose lives he ruined. He spoke for about 10 minutes and merely expressed his fraud as "errors in judgement" and a "tragic mistake." There was no one safe from this villain's scheme. He stole from the rich and the poor. He will spend the rest of his life in jail.

Thursday, June 25, 2009

michael jackson dies

Michael Jackson has died. The King of Pop is officially dead now. For many years we have hid our thoughts of the old Michael Jackson that graced American Bandstand and blessed an adoring public for decades. The King of Pop passed away moments ago and I can't help but think that maybe that a piece of my chiildhood has died also. Michael Jackson was America's superstar for twenty years. He started with hits like "Rockin Robin" and "ABC" with catchy refrains and great dance moves. He captivated this young American;s heart and even prompted me to practice moonwalks with a sparkly glove on. I could do every move from "Thriller" to "Beat it." Every wedding provided an opportunity for me to dance against my cousin John Mark as Thriller would come on.

I am saddened with the passing of an American hero today. I am also forced to recall the hero that seemingly passed to me years ago. I am forced to realize that this person may have died to the America public some years ago. This cultural phenomenon became a punchline later in life. It was sad to see the fall of this great performer. The eyes of America and the world can be crushing. I guess the last dance was today. He will be missed by this blogger but I have missed him for a long time. I miss the old Michael Jackson. This hero has been gone but now it is official.

Bye Bye Mike

Tuesday, June 2, 2009

A slobbering Love Affair

The inability of the mainstream media to criticize our Fearless leader. He has become a a celebrity that rarely speaks from his own mind but rather under the influence of a teleprompter. A candid comment is a rarity and is never highlighted as a verbal blunder like so many of his predecessors. Instead he is placed on a pedestal as a verbal genius whose off the cuff thoughts are never highlighted in political satire programs like the Daily show or Colbert Report. We have yet to see a punchline in a Leno or Letterman monologue. Their love affair began during the campaign and these reporters used their influence to determine the outcome of Obama over McCain.
An excerpt from Bernie Goldberg summed it up well:
"Never in my memory were so many journalists so intent on effecting change as they were during the campaign of 2008. Sure, mainstream journalists always root for the Democrat. But this time it was different. This time journalists were not satisfied merely being partisan witnesses to history. This time they wanted to be real players and help determine the outcome. This time they were on a mission, a noble, historic mission, as far as they were concerned. In fact, I could not remember a time when so many supposedly objective reporters had acted so blatantly as full-fledged advocates for one side-and without even a hint of embarrassment.

"...Make no mistake: this is not the same old liberal bias we have witnessed for years. In 2008, the mainstream media crossed a line. As a result, their credibility is in tatters. Hardly anyone trusts them anymore. This is not good for them, of course. But it may be even worse for us."

The love affair mentioned is continued as no one has pointed out that Barack Obama has spent more money is his first 100 days than every president prior to him combined! From Washington to W: they couldn't match the frivolous spending of our newest Big Spender! Trips to Manhattan costing hundreds of thousands for the afternoon and all the man power that it took to shut down our largest city are merely a weekend night for our first couple. They instead wanted to take in a night on Broadway! Well don't we all?

Now he has purchased a sixty percent stock for our us and our children in a fledgling automotive giant GM. Flint Michigan is a dying city and we have all just bought real estate in it. GM FAILED! Yet we leave the same decision makers in place and extend our financial futures to these same executives! GM must change their entire model and begin to produce mass transit for major metropolises in the country. Leave these people to work but change the economic model to reflect a new innovative idea. GM gas guzzlers do not work. GM can shift gears to alternative energy and create mass transit for cities like Tampa and Dallas. Please President Obama, use our industrial infrastructure to produce a new day of energy and commerce in these steel towns. DO NOT recreate the same GM! GM should be saved by letting it die or by radically changing its functionality. However, the media will not judge this large investment that was mad eon our behalf.
Just a thought-