Archive for April, 2008

Fannie Mae Chief Executive Predicts National Housing Recovery in 2010

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!The head of Fannie Mae is predicting a slow real estate market spanning through 2009 as indicators such as the Case Shiller report as showing even greater weakness in the market. Daniel Mudd predicts the slowdown lasting longer than [...]

30Apr2008 | Tom Royce | 0 comments | Continued

East Haven Connecticut Housing Official Charged With Stealing $173,000

A Connecticut Housing Official and her husband is now charged with stealing Section 8 housing money from the East Haven housing authority. The amount of 173 thousand dollars was taken through a debit card that Cassandra Ashe illegally obtained.
I do hope she gets what she and her husband deserve stealing our tax money that was designated for low [...]

30Apr2008 | Tom Royce | 0 comments | Continued

New York City Real Estate Tax Revenue Down

Local government officials must be getting nervous if they are reading this story. New York City is one of the few hot warm spots in the real estate market and is showing a significant weakness in tax revenue collection. What are the mayors of Stockton and San Diego thinking as they try to keep all the bloated city [...]

30Apr2008 | Tom Royce | 0 comments | Continued

Worst Public Housing In America? How About Soldiers Housing At Fort Bragg

If the conditions shown in this video were to happen in any rental property in the country the landlord would be facing a condemnation notice. Instead our soldiers coming back from a 15 month deployment are facing these living conditions.
This has got to stop. No matter your feeling on the war, and I do [...]

29Apr2008 | Tom Royce | 4 comments | Continued

K&B Founder - Home Prices Could Drop 20 Percent More

Into the gloom and doom of the housing market comes this tidbit of knowledge from one of the founders of K&B Homes. Eli Broad is thinking that home prices could drop another 20 percent over the next couple of years.
I bet the folks in the corporate offices of K&B are grumbling a bit over that quote as they [...]

29Apr2008 | Tom Royce | 1 comment | Continued

United States Has 129.4 Million Homes- 18.6 Million of Whom Are Vacant

The United States real estate market has an inventory problem. When there are over 18 million empty homes across the country we have no reason to continue to build new homes. If this were a logical marketplace we would tell builders to take a 2 year moratorium until absorption met demand.
Instead we have builders building [...]

29Apr2008 | Tom Royce | 2 comments | Continued

Top 10 Metro Areas For Foreclosures - 1st Quarter, 2008

The top 10 metro areas in the United States for foreclosures include the usual suspects led by 6 California markets, Las Vegas, Detroit, Phoenix, and Fort Lauderdale. There were 2 real surprises for me in the RealtyTrac report, first that Detroit has dropped down to number 6 after being the leader in foreclosures for so [...]

29Apr2008 | Tom Royce | 1 comment | Continued

Theres An Alligator In My Kitchen, What Am I Gonna Do?

My apologies to UB40 for the title, but this is not something you would want to see when you are hearing noises downstairs in the middle of the night.
An 8 foot alligator sitting in your kitchen who chased your cat into the house after pushing in the screen porch door. Florida living can be [...]

29Apr2008 | Tom Royce | 0 comments | Continued

Web Sites Triple in Size in Last 5 Years - Realtors Use That Bandwidth!

In the past if you developed websites you aimed not to alienate the dial up user and those with smaller monitors. Well with the new information out that websites have tripled in size since 2003 and the number of objects on a page doubling, don’t get hung up on those metrics anymore.

The size of [...]

28Apr2008 | Tom Royce | 0 comments | Continued

Speaker of House Nancy Pelosi Says 1 in 20 California Homeowners Will Be in Foreclosure

Nancy Pelosi, Speaker of the House, must be the Queen of the FUD (fear, uncertainty, and doubt). Instead of talking about the positive things that have gone on in the country over the past 2 years of her speakership, she instead decides to be a fear monger to those in the fear mongering business.
Addressing a mixture of [...]

28Apr2008 | Tom Royce | 4 comments | Continued