Deeds and Leases

This is an intriguing article that suggests a financially viable way to convert failed/foreclosed condominium projects into cooperatives. At its most conservative it allows the lenders to be made whole. At best, there is some profit, which is better than a warehoused white elephant!
I am curious to see what kind of reaction lenders and investors [...]

May Existing-Home Sales Continue Rising Trend

Washington, June 23, 2009
National Association of Realtors
Sales of existing homes showed another gain in May, benefiting from favorable affordability conditions and a first-time buyer tax credit, according to the National Association of Realtors®. May’s increase was the first back-to-back monthly gain since September 2005.
Existing-home sales – including single-family, townhomes, condominiums [...]

This video offers some interesting thoughts on how to evaluate when the overall market will improve. it discusses indices that I have not thought of looking at, and it is definitely food for thought!

CLICK: [Vortex] Straight from MacCrate: When Will Real Estate Prices Stabilize in the New York Metropolitan Area?
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Jim McCrate, MAI CRE is one of the foremost commercial real estate appraisers in NY, and is a Counselor of Real Estate, the premier designation in the industry. While I worked worked with many of the top MAI’s [...]

Bank of America, which bought Countrywide Home Loans last year, has officially changed the lender’s name to Bank of America Home Loans, which recognizes the merger of Countrywide and Bank of America’s previously existing mortgage and home equity lending operation.
All I can say is good riddance. There were many causes of the current state of [...]

I stopped blogging some time ago as it took too much time. Now however, with the financial meltdown, there is so much to say.
Real estate is undergoing it’s biggest fundamental change since the last major downturn in the late 1980’s, early 1990’s. I experienced that hell and it was not fun. There are fundamental differences [...]