Real Estate Weekly

Real Estate News that Matters

Real Estate Weekly - Real Estate News that Matters

Today’s Show – All about the Paul Ryan Rally and more!

In today’s show we talk all about the Paul Ryan Rally in Las Vegas the political atmosphere in Nevada and the following items on the show for today while we give away 3 pairs of tickets to 2016:  Obama’s America showing on Friday at 6:30 PM!

http://www.mittromney.com/states/nevada/locations

Contact information of the Romney/Ryan Nevada Headquarters in Mesquite

Blake Garfield
blake@teamnevada2012.com
702.245.4126
355 W. Mesquite Boulevard, Suite C80
Mesquite, NV 89027

Below are articles that we cover on today’s show:

This from CNBC

Why Private  Investors are Staying Away from Mortgages

From Bloomberg

Homebuilder Confidence

The Shadow Inventory:  Its Not as Scary as It Looks

http://blogs.wsj.com/developments/2012/08/14/shadow-inventory-its-not-as-scary-as-it-looks/?mod=google_news_blog

Seizing Mortgages Through Eminent-Domain Power.

Seizing Mortgages Through Eminent-Domain Power

During todays show we discuss seizing mortgages through the Eminent Domain Power.  The article below  from the Wall Street Journal gives a pretty good overview of the plan

http://online.wsj.com/article/SB10001424052702303933404577505013392791018.html?mod=WSJ_WSJ_US_News_5

Some potential eminent domain victims are fighting back.  This from the Community Youth Athletic Center vs. National City California.

http://www.ij.org/victimizing-the-vulnerable-eminent-domain-abuse-in-national-city-calif

 

Medicare Taxes on Real Estate

What a day!  Check out the National Association of Realtors Frequently Asked Questions on Medicare Taxes…   http://www.realtor.org/small_business_health_coverage.nsf/docfiles/government_affairs_health_ref_med_tax.pdf/$FILE/government_affairs_health_ref_med_tax.pdf

“Arguing that the Health mandate is Not A Tax, Except When It Is”  This from the New York Times   http://www.nytimes.com/2012/03/27/health/policy/arguing-that-health-mandate-is-not-a-tax-except-when-it-is.html

 

 

The Shift Is On – A Real Estate Market Report for St George UT – April 2012

According to the Washington County MLS as of April 11th, 2012, there were 1338 single family residential listings.  Of the 1338 listings in Greater St. George, only 250 (18.6%) were short sales.  It is notable that 206 (15.4%) were new construction listings (58 of those listings were “to be built”). There has been an over 8 or 9 % increase in residential sales prices from March 2011 to March  of 2012 for respectively, the average sale and median sale prices in Greater St. George.  Based upon this and other data previously published by Real Estate Weekly, I am of the opinion that the “distressed market” has largely moved to the background as we exit the distress phase and move into the expansion phase (creation of new units and increasing prices).  During this early expansion phase we are experiencing a disconnect between the buyers who are largely being told by national media outlets that we are in a “buyers market” and the reality of a falling inventory and rising prices, which could actually slow current unit sales until more buyers come to terms with the market shift.

What drives you to action? A blast from the past and the Cramer “Open the Discount Window” Rant

How do you decide which advice to follow?  If someone gave you important information that would  impact you  and your family financially, would you listen?  Almost 5 years ago I remember “the rant heard round the world” by Cramer on MSNBC.  I credit this rant with pushing me to finally sell all of the marginal real estate that I held at the time and taking a business loan that today would be unattainable.  What drives you to action?

Open the discount window rant from Cramer

Important Housing News for Military, Ben Stein joins the party and much more!

On Today’s show Obama announces a reduction in refinance fees through for FHA borrowers as well as the announcing payments for military personnel who suffered loss of equity and or a wrongful disclosure compensation payments starting at $116,000. Service members who believe their rights were violated by Bank of America, J.P. Morgan Chase (JPM, Fortune 500), Ally Financial (the old GMAC), Citibank (C, Fortune 500), or Wells Fargo (WFC, Fortune 500) can contact the Justice Department directly at 1-800-896-7743

http://money.cnn.com/2012/03/06/real_estate/obama_mortgages/index.htm

Ben Stein Says “Buy A House”!

http://video.foxbusiness.com/v/1490378647001/ben-stein-on-inflation/?playlist_id=87185

 

Warren Buffet Says “Buy Baby Buy”!

During the show today we welcome Warren Buffet’s comments regarding real estate as being a compelling investement, right now

Interesting interview with Warren Buffett where he states I’d Buy a Couple Hundred Thousand Single Family Homes If I Could…..

http://www.cnbc.com/id/46538421/Warren_Buffett_on_CNBC_I_d_Buy_Up_A_Couple_Hundred_Thousand_Single_Family_Homes_If_I_Could

http://www.ibtimes.com/articles/306749/20120229/real-estate-forecast-2012-warren-buffett.htm

Making Home Affordable – Does HARP Make the Cut?

At Real Estate Weekly, we hope that distressed homeowners who have been struggling to keep their mortgage payments current, can get some relief from the retooled refinance plan and get off their diet of Pasta fagioli.  (Italian Peasant Food)

On today’s show we cover the HARP Program and discuss how recent administrative changes are making the program helpful to homeowners where prior efforts have failed.  For more information on the HARP Program look at the government website  http://www.makinghomeaffordable.gov

To find out if Fannie or Freddie owns your loan try these loan look up tools below:

http://www.fanniemae.com/loanlookup

http://www.freddiemac.com/mymortgage

Head researcher  and editor, Dana, did a lot of diggin’ and callin’ to find lenders willing to participate in the HARP program locally.  Though we do not believe that this list is exhaustive we can tell you it is a good start:

Local bank lenders who made the cut:

Jeff from Wells Fargo, who operates at the main office in St. George (Tabernacle & Main St.).   His number is 674-8003

US Bank- Contact your local branch

State Bank of Southern Utah (SBSU)  They are participating in the HARP program. Their current customers will get preferential treatment in terms of documentation since they already “know” them, but they are happy to sit down with any and all homeowners.

Credit unions, who made the “cut”:

Southwest Credit Union – You can walk in any branch office and ask for a mortgage originator and they will hook you up. They only do loans held by Freddie. They will be able to tell you who owns your mortgage once you contact them.

Deseret First Credit Union – Deseret First will happily assist you in a HARP refinance. You can call Chuck, who handles our area from SLC.  He was kind enough to give us his direct line for listeners to use 801-456-7075

SGI Mortgage – Great lady and so helpful, Debbie Hartman. She can be reached at 674-1090

W.J. Bradley Mortgage Capital – Ryan Bolton is the captain of the ship over there and he does every kind of loan under the sun.  His number is 627-0494.