Bill Tan's Blog

Federal Trade Commission Goes After Real Estate Gurus

2011-07-05T19:34:00.000-07:00

The Federal Trade Commission & the Colorado Attorney General went after the late-night guru Russ Dalbey AND one of his testimonials. Yea!!! And Armando Montelongo is under investigation too. "His infomercial boasts that he is "America's No. 1 and top real estate investing expert." Yeah, right...

... The Federal Trade Commission went after one prominent infomercial king and joined forces with Colorado Attorney General John Suthers to take the uncommon step of going after a woman who offered a testimonial.

Russell Dalbey, CEO and founder of the company behind the "wealth-building" program "Winning in the Cash Flow Business" is charged by the FTC with defrauding consumers with what were described as "phony claims that they could make large amounts of money quickly."...

Armando Montelongo parlayed exposure as former host of the A&E network's "Flip This House" into a national slate of free seminars promoting the tactics needed to buy and fix up run-down property for profit. His infomercial boasts that he is "America's No. 1 and top real estate investing expert."

The news team also uncovered that one of the star pupils in the infomercial faced eviction and multiple foreclosures in Nevada. Another claimed to have made $110,000 in eight months, despite the reality of having declared bankruptcy and not having earned more than $17,000 a year.

Read the whole article:

The Tricks Behind Infomercial Get-Rich Pitches

As I say, "Hold onto your wallet & credit cards!"

Southland Home Sales, Median Price Post Steeper Declines From 2010

2011-06-14T12:10:00.000-07:00

Southland Home Sales, Median Price Post Steeper Declines From 2010

June 13, 2011

La Jolla, CA---Southern California home sales held at a three-year low last month amid a sluggish move-up market and record-low sales of newly built homes. The median sale price fell year-over-year by the largest amount in 20 months as buyer uncertainty, tight credit and lackluster hiring continued to restrain housing demand, a real estate information service reported.

A total of 18,394 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in May. That was up insignificantly – 0.3 percent – from 18,344 in April, and down 17.4 percent from 22,270 in May 2010, according to San Diego-based DataQuick. May marked the 11th consecutive month in which sales fell year-over-year.

On average, sales between April and May have increased 5.7 percent since 1988, when DataQuick's statistics begin. May sales have varied from a low of 16,917 in 2008 to a high of 35,557 in 2005. Last month’s sales count was 29.0 percent below the May average of 25,902. May sales were lower than last month in just three of the past 23 years: 2008, 1995 and 1993.

The 1,152 newly built homes that sold across the Southland last month marked the lowest new-home total for the month of May since at least 1988.

“A year ago we were talking about sales reaching a four-year high as buyers rushed to take advantage of expiring federal homebuyer tax credits. Now sales are stuck at a three-year low. The government stimulus is long gone and some of the fundamental drivers of housing demand have yet to strengthen enough to lift sales to even average levels. Some of the key culprits are weak job growth, tight credit and a hesitancy among potential buyers and sellers, who question whether this is the best time to make their move,” said John Walsh, DataQuick president.

“So here we sit in the market doldrums,” he continued. “Two of the more likely sources of fresh wind in the market’s sails would be a pickup in hiring or further home price reductions.”

for the rest of this good article from Dataquick:

Southland Home Sales

if you’re ever distressed

2011-05-09T14:29:00.000-07:00

Our family recently suffered a loss and today I was feeling somewhat pensive and not particularly upbeat. I sat down to eat my lunch and turned on the TV to avoid contemplating recent events. I found pure serendipity in viewing the very end of the movie “Jack” starring Robin Williams. “Jack” is about a boy that suffers from a condition that ages his body four times faster than normal.

The character Jack says, as the valedictorian at his high school graduation with a body that’s almost seventy years old, “Please don’t worry so much, because in the end , none of us have very long on this earth. Life is fleeting. And if you’re ever distressed, cast your eyes up into the summer sky when the stars are strung across the velvety night. And when a shooting star streaks through the blackness turning night into day, make a wish... and think of me. Make your life SPECTACULAR!!!”

Or think of anyone else you’ve lost and realize that they would give anything to trade places with you right now. So live, love and be happy with what you have right now and make your life SPECTACULAR!

28% of San Diego home sales in Jan. were cash

2011-04-11T21:30:00.000-07:00

I suspect that most of the cash buyers are investors.

DataQuick: Slow winter season, lower-than-ever prices were likely factors

By Lily Leung

Almost three out of 10 homebuyers in San Diego County in January closed with cash, the highest it's been in 21 years, according to La Jolla-based DataQuick Information Systems.

Company spokesman Andrew LePage said 28 percent of new and resale homes bought in the county last month had no records of mortgages, matching the percentage of cash purchases one year ago during the same time.

The figures from this year and January 2010 are second to only the peak at May 1989, when 29.1 percent of home purchases were made with cash.

LePage said the historic high is likely due to lower-than-normal home prices and investors capitalizing on less competition during the holiday season, when most buyers are scrambling for presents, not homes. DataQuick numbers, which go back to 1988, show the monthly average of cash buyers is 12.6 percent in San Diego County.

for more:

28% of San Diego home sales in Jan. were cash

-----------------------------------

Other DataQuick highlights, California

--In January, 51.9 percent of those paying cash were absentee buyers. That means the property-tax bills will be sent to different addresses, potentially signaling the deals were made by investors.

--About 52 percent of the homes bought with cash in January had been foreclosed on in the previous 18 months.

--The median price for a home bought with cash last month was $160,000, down from $175,000 in December and $164,000 one year earlier. The median home price for all homes sold throughout California last month was $239,000.

Housing data may have understated extent of collapse

2011-04-11T21:24:00.000-07:00

I posted this to remind you not to trust all the news put out by the National Association of Realtors. And to realize that you must take into account the group releasing the information and to consider that they may have their own agenda "taint" its accuracy.

From Real Estate on msnbc.com:

A housing trade association is examining the possibility that the data it releases underestimated the collapse of the housing industry, the Wall Street Journal reported on Monday.

The National Association of Realtors, which issues the monthly existing home sales report that is closely watched by economists and financial markets, may have over-counted home sales dating as far back as 2007, the newspaper said in an article posted to its web site.

NAR's home sales count was at odds with calculations by CoreLogic, a California real estate analysis firm, according to the report. CoreLogic says NAR could have overstated home sales by as much as 20 percent.
An over-count of home sales may mean that there is a bigger backlog of unsold homes and that it will take longer for the U.S. housing sector to climb out of the deep hole it is already in, dragging on the broader economic recovery.

The crash of U.S. housing markets, in part because of shoddy lending practices, was at the heart of the economic meltdown that started in the United States and spread around the world.
The U.S. recovery has been held back by the slow healing of housing markets, with high foreclosure rates hold down home values and sales.

NAR said the data could be revised downward this summer, the newspaper said.

28% of San Diego home sales in Jan. were cash

2011-03-01T21:44:00.000-08:00

What do these numbers mean? They mean that the government needs to get their heads out of their anal cerebral inversion! Almost 52% of January's sales were to investors! We need to be recognized as a viable means for getting the vast number of REO back onto the market in a quick and efficient manner!

28% of San Diego home sales in Jan. were cash

DataQuick: Slow winter season, lower-than-ever prices were likely factors

By Lily Leung

Tuesday, March 1, 2011 at 6 a.m.

Almost three out of 10 homebuyers in San Diego County in January closed with cash, the highest it's been in 21 years, according to La Jolla-based DataQuick Information Systems.

Company spokesman Andrew LePage said 28 percent of new and resale homes bought in the county last month had no records of mortgages, matching the percentage of cash purchases one year ago during the same time.

The figures from this year and January 2010 are second to only the peak at May 1989, when 29.1 percent of home purchases were made with cash.

Homes sold to cash buyers

Area	Jan. '10	Jan. '11	Peak since '88	10-yr. avg.
Los Angeles	26%	25%	26%	11%
Orange	24%	27%	27%	11%
Riverside	36%	36%	37%	17%
San Bernardino	36%	39%	39%	16%
San Diego	28%	28%	29%	13%
Ventura	23%	21%	43%	11%
Southern Calif.	30%	30%	30%	13%

Source: DataQuick Information Systems

Other DataQuick highlights, California

LePage said the historic high is likely due to lower-than-normal home prices and investors capitalizing on less competition during the holiday season, when most buyers are scrambling for presents, not homes. DataQuick numbers, which go back to 1988, show the monthly average of cash buyers is 12.6 percent in San Diego County.

The same upward trend was reflected statewide. In January, 30.9 percent of new and resale homes sold in California were bought with cash, the peak in at least 23 years, LePage said. During the same time in 2010, that number for the state was 29.5 percent.

To see the rest; go to the San Diego Union-Tribune article:
28% of San Diego home sales in Jan. were cash

I Survived Real Estate 2010 videos

2011-01-07T12:54:00.000-08:00

The new year is a good time to reflect on what happened last year in 2010. Here are the videos from the " I Survived Real Estate 2010" where real estate industry professionals shared with us their views on what was happening and what will happen in real estate. The Norris Group does such an excellent job (Aaron Norris) of putting it together and we hope to see you at this year's event.

I Survived Real Estate 2010

Funny Commentary of Quantitative Easing (that is printing money) from Jon Stewart:

2010-12-21T18:27:00.000-08:00

This is too funny... if it wasn't sooo true!

Jon Stewart's Big Bank Theory

A Different Christmas Poem

2010-12-07T11:56:00.000-08:00

Please remember them this Christmas and all through the year.

A Soldier's Christmas Poem

Pending sales drop in San Diego

2010-12-06T08:14:00.000-08:00

This just emphasizes that you should make offers this month which is many banks fiscal year-end (especially on properties that have fallen out of escrow).

Pending home sales are dropping month by month in San Diego, while they are rising nationally, the latest figures from realty groups show.

It seems like when I talk to people, California and San Diego, in particular, experience this stuff first," she said. "We were one of the first to experience the dip (in sales) and we've kind of experienced some more positive signs; median prices started to increase here before they did at the national level.

Pending sales are considered a leading indicator of housing activity, since buyers typically sign a purchase contract and take several weeks to close escrow -- currently a four- to eight-week process.

To see the whole article:
Pending sales drop in San Diego

Why did Bernie Madoff go to prison?

2010-10-29T10:34:00.000-07:00

You can make a difference. I believe that the present government has an entitlement philosophy. And I do not agree with how they spend of my tax dollars. What do you think? Please take the necessary time this weekend to study what's being decided and who's running for what office. AND BE SURE TO VOTE NEXT TUESDAY!!

Why did Bernie Madoff go to prison? To make it simple, he talked people into investing with him. Trouble was, he didn't invest their money. As time rolled on he simply took the money from the new investors to pay off the old investors. Finally there were too many old investors and not enough money from new investors coming in to keep the payments going.

Next thing you know Madoff is one of the most hated men in America and he is off to jail. Some of you know this. but not enough of you.

Madoff did to his investors what the government has been doing to us for over 70 years with Social Security. There is no meaningful difference between the two schemes, except that one was operated by a private individual who is now in jail, and the other is operated by politicians who enjoy perks, privileges and status in spite of their actions.

Do you need a side-by-side comparison here? Here's a nifty little chart.

BERNIE MADOFF	SOCIAL SECURITY
Takes money from investors with the promise that the money will be invested and made available to them later.	Takes money from wage earners with the promise that the money will be invested in a "Trust Fund" and made available later.
Instead of investing the money Madoff spends it on nice homes in the Hamptons and yachts.	Instead of depositing money in a Trust Fund the politicians use it for general spending and vote buying.
When the time comes to pay the investors back Madoff simply uses some of the new funds from newer investors to pay back the older investors.	When benefits for older investors become due the politicians pay them with money taken from younger and newer wage earners to pay the geezers.
When Madoff's scheme is discovered all hell breaks loose. New investors won't give him any more cash.	When Social Security runs out of money they simply force the taxpayers to send them some more.
Bernie Madoff is in jail.	Politicians remain in Washington...

"The taxpayer: That's someone who works for the federal government but doesn't have to take the civil service examination." __ Ronald Reagan

"If you put the federal government in charge of the Sahara Desert, in five years there’d be a shortage of sand.” __ Milton Friedman

Congressional Contests

2010-10-18T08:19:00.000-07:00

This is an interesting graphic of the upcoming election. See how many Senate, House of Representatives & Governor races are considered a toss-up. Your vote will count!

The whole House of Representatives and a third of Senate seats are on the ballot in 2010. See which races are considered closest.

Congressional Contests

In the absence of clearly-defined goals

2010-10-18T07:41:00.000-07:00

"In the absence of clearly-defined goals, we become strangely loyal to performing daily trivia until ultimately we become enslaved by it."

-- Robert Heinlein, American Novelist

Largest Tax Hike In American History

2010-10-16T16:56:00.000-07:00

Your vote can change the makeup of Congress & get them to make better laws... maybe even reduce government spending (or is that too much to hope?).

The Largest Tax Hikes in History

From Ryan Ellis on Thursday, July 1, 2010 4:15 PM

In just six months, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011:

First Wave: Expiration of 2001 and 2003 Tax Relief

In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011:

Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:

- The 10% bracket rises to an expanded 15%
- The 25% bracket rises to 28%
- The 28% bracket rises to 31%
- The 33% bracket rises to 36%
- The 35% bracket rises to 39.6%

Higher taxes on marriage and family. The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of income. The child tax credit will be cut in half from $1000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut.

Why do they continue to penalize people for getting married? I guess having families aren't encouraged...

The return of the Death Tax. This year, there is no death tax. For those dying on or after January 1 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones.

Higher tax rates on savers and investors. The capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013.

Encouraging saving and investment provides a capital infusion for the banks (as opposed to GIVING them money) for them to lend to the investors and the home buyers that stimulate the economy.

Second Wave: Obamacare

There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011.

They include:

The “Medicine Cabinet Tax”. Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). The “Special Needs Kids Tax” This provision of Obamacare imposes a cap on flexible spending accounts (FSAs) of $2500 (Currently, there is no federal government limit). There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education.

The HSA Withdrawal Tax Hike. This provision of Obamacare increases the additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.

Third Wave: The Alternative Minimum Tax and Employer Tax Hikes

When Americans prepare to file their tax returns in January of 2011, they’ll be in for a nasty surprise—the AMT won’t be held harmless, and many tax relief provisions will have expired. The major items include:

The AMT will ensnare over 28 million families, up from 4 million last year. According to the left-leaning Tax Policy Center, Congress’ failure to index the AMT will lead to an explosion of AMT taxpaying families—rising from 4 million last year to 28.5 million. These families will have to calculate their tax burdens twice, and pay taxes at the higher level. The AMT was created in 1969 to ensnare a handful of taxpayers.

Small business expensing will be slashed and 50% expensing will disappear. Small
businesses can normally expense (rather than slowly-deduct, or “depreciate”) equipment purchases up to $250,000. This will be cut all the way down to $25,000. Larger businesses can expense half of their purchases of equipment. In January of 2011, all of it will have to be “depreciated.”

Taxes will be raised on all types of businesses. There are literally scores of tax hikes on business that will take place. The biggest is the loss of the “research and experimentation tax credit,” but there are many, many others. Combining high marginal tax rates with the loss of this tax relief will cost jobs.

Tax Benefits for Education and Teaching Reduced. The deduction for tuition and fees will not be available. Tax credits for education will be limited. Teachers will no longer be able to deduct classroom expenses. Coverdell Education Savings Accounts will be cut. Employer-provided educational assistance is curtailed. The student loan interest deduction will be disallowed for hundreds of thousands of families.

Isn't education one of the major concerns of our country? And here we are penalizing Teachers & students! Here is an area that stimulus is definitely needed and shouldn't be withdrawn!

Charitable Contributions from IRAs no longer allowed. Under current law, a retired person with an IRA can contribute up to $100,000 per year directly to a charity from their IRA. This contribution also counts toward an annual “required minimum distribution.” This ability will no longer be there.

FEDERAL Real estate sales tax

2010-10-15T08:40:00.000-07:00

Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it? That’s $3,800 for every $100,000 in home value.

When did this happen? It’s in the health care bill. The SALES TAX WILL GO INTO EFFECT 2013 (interesting that it goes into effect AFTER the 2012 Presidential election???)

Under the new health care bill ALL real estate transactions will be subject to a 3.8% Sales Tax.

The bulk of the new taxes don't kick in until 2013. You can thank all those in Congress that voted for the Bill; especially since almost none of them actually read the bill (I really like the statement by Nancy Pelosi that you will know what's in the bill AFTER it passes...). Now we're learning what's in the bill.

This bill is will really affect (screw) the Baby Boomers; that retiring generation who will be downsizing their bigger homes (therefore a bigger sales tax).

AND, there are probably other surprises lurking in the bill; I not likely going to read it all either.

Be sure to vote election day November 2, 2010, and please READ the ballot beforehand so that you can make informed decisions.

Businesses Put Up for Sale Smack Into Harsh Reality

2010-10-15T06:46:00.000-07:00

Did you know that most businesses are sold using some form of seller financing? I'm always asked about the note business & how to find notes. Business notes are one niche.

Small-business owners banking on a big payoff when they sell their establishments may have to settle for a lot less than planned.

A combination of tight credit, skittish buyers and business owners unwilling to sell at rock-bottom prices—factors similarly affecting home sellers—has left the small-business marketplace at a standstill.

Businesses Put Up for Sale Smack Into Harsh Reality

San Diego ranks 10th in real estate market to watch in 2011

2010-10-14T08:34:00.000-07:00

San Diego is 10th & smL.A. 9th from the annual "Emerging Trends" report.

From the San Diego Union-Tribune:

The overall assessment for San Diego was this:

"San Diego's story largely copies that of Los Angeles. These two markets, not surprisingly, can track closely together. But San Diego does not rate LA's gateway status, lacking a major port or international airport hub like LAX.

"'Traditionally, the local economy creates startup jobs, but doesn't retain headquarters. When companies get large, they leave,' [says an interviewee]. For global and domestic business, the city sits just outside primary jet ways, making travel a pain.

"As is the case everywhere else in Southern California, housing prices have dropped from stratospheric levels, savaging mortgage holders. In particular, downtown condos are badly oversupplied. Demand builds back for housing in better neighborhood: more buyers with cash want to take advantage of market bottom near Pacific coastlines.

"What's not to like about arguably the country's most desirable climate? Public-company homebuilders buy relatively cheap residential land to prepare for an eventual upturn. On the wobbly retail front, put a hold on any more lifestyle centers."

To see the entire story:

San Diego ranks 10th in real estate market to watch in 2011

This I Believe (what Ronald Reagan said)

2010-10-12T14:09:00.000-07:00

I truly believe what President Ronald Reagan said in this video. What do you think?

You have a chance next month to make your voice heard by voting... SO DO IT!!!

Bank of America halts all foreclosure sales

2010-10-08T21:17:00.000-07:00

Will this affect investors? And how! B of A has the greatest number of REO, properties in default and mortgage delinquencies (properties that are behind in payments... maybe years behind!). And B of A is not alone in doing this. Other lenders have also halted foreclosures. Lenders can do this because they are not immediately penalized for making those bad loans. So they're going to string things out longer & longer, hope for the economy & market to turn around and save their butt. And then look to the government if they "make a mistake" and lose tons of money because the country can't "let them fail".

Bank of America is halting foreclosure sales in all 50 states as part of a widening investigation into flaws in the process, the company announced Friday.

The announcement came a week after the nation's largest bank said it was freezing home foreclosures in 23 states where foreclosures must be approved by the courts.

The bank said the foreclosure process on delinquent borrowers will continue, but it will not proceed to judgment or a foreclosure sale

For the rest of the article:
Bank of America Halts All Foreclosure Sales

JPMorgan halts 50K foreclosures for possible flaws

2010-10-01T07:34:00.000-07:00

Probably the most profitable method for acquiring real estate is to solve title problems.

JPMorgan Chase has temporarily stopped foreclosing on more than 50,000 homes so it can review documents that might contain errors.

JPMorgan's move Wednesday makes it the second major company to take such action this month, underscoring a growing legal problem. The issue could stall an already overloaded foreclosure process.

Still, analysts don't expect the delays to reduce the number of foreclosures over the long run.

"It will probably slow things down for a couple months while these documents are reviewed," said Rick Sharga, a senior vice president at foreclosure listing service RealtyTrac Inc. "It won't stop things."

But if the problems turn up at more of the largest mortgage companies, a foreclosure crisis that's already likely to drag on for several more years could persist even longer.

GMAC Mortgage LLC last week halted certain evictions and sales of foreclosed homes in 23 states to review those cases. The company said it found procedural errors in some foreclosure affidavits.

After GMAC's announcement, attorneys general in California and Connecticut told the company to stop foreclosures in their states until it proves it's complying with state law. The Ohio attorney general this week asked judges to review GMAC foreclosure cases. And in Florida, the state attorney general is investigating four law firms, two with ties to GMAC, for allegedly providing fraudulent documents in foreclosure cases.

To read the rest of the article: JPMorgan halts 50K foreclosures for possible flaws

Collapse in Southern California home sales a sign that prices will fall in 2011?

2010-09-16T17:29:00.000-07:00

Interesting article. Here are the first two sentences:

Southern California home sales have collapsed for July and August. These are typically strong sales months...

For the rest of the article go to:

Collapse in Southern California home sales a sign that prices will fall in 2011?

I'm back & headed to Gary Johnston's class this weekend

2010-07-31T05:45:00.000-07:00

I'm back from a short vacation just in time to take Gary Johnston's Financial Freedom Principles class. A lot of messages & questions await my response... I'll be ready to answer them starting Tuesday after class. Hope to see you there.

Cracked Pots

2010-07-28T13:14:00.000-07:00

An elderly Chinese woman had two large pots, each hung on the ends of a pole which she carried across her neck.

One of the pots had a crack in it while the other pot was perfect and always delivered a full portion of water.

At the end of the long walks from the stream to the house, the cracked pot arrived only half full..

For a full two years this went on daily, with the woman bringing home only one and a half pots of water..

Of course, the perfect pot was proud of its accomplishments.

But the poor cracked pot was ashamed of its own imperfection, and miserable that it could only do half of what it had been made to do.

After two years of what it perceived to be bitter failure, it spoke to the woman one day by the stream.

'I am ashamed of myself, because this crack in my side causes water to leak out all the way back to your house.

The old woman smiled, 'Did you notice that there are flowers on your side of the path, but not on the other pot's side?'

'That's because I have always known about your flaw, so I planted flower seeds on your side of the path, and every day while we walk back, you water them. For two years I have been able to pick these beautiful flowers to decorate the table. Without you being just the way you are, there would not be this beauty to grace the house.'

Each of us has our own unique flaw(s). But it's the cracks and flaws we each have that make our lives together so very interesting and rewarding. You've just got to take each person for what they are and look for the good in them.

SO, to all of my cracked pot friends, have a great day and remember to smell the flowers on your side of the path!

Show your ID!

2010-07-24T20:32:00.000-07:00

I don't ask for anything more than that asked of me.

I'm a legal American citizen and I must show my ID when:

1. Pulled over by the police.

2. Making purchases on my department store Credit card.

3. When I show up for a doctor's appointment.
4. When filling out a credit card or loan application.
5. When applying for or renewing a driver's license or passport.
6. When applying for any kind of insurance.
7. When filling out college applications.
8. When donating blood.
9. When obtaining certain prescription drugs.

10. When making some debit purchases, especially if I'm out of state.

11. When collecting a boarding pass for airline or train travel.

I'm sure there are more instances, but the point is that we citizens of the USA are required to prove who we are nearly every day!

Why should people in this country illegally, be exempt!!!!!

Why shouldn't we guard our borders as closely as every other country in the world does?

Go ARIZONA !!!

Need a Mortgage? Don’t Get Pregnant!

2010-07-20T14:49:00.000-07:00

Stupid is as stupid does. I think we'd be much better off with Forrest Gump in Congress. Their decisions via Fannie Mae & Freddie Mac have led to new & stupid lending criteria. Want a home? Abstain from sex until after you get a loan! And then if you do get blessed with a pregnancy, maybe the lender will go after you for falsifying your loan application!!!

Need a Mortgage? Don’t Get Pregnant!

Published: Tuesday, 20 Jul 2010 | 11:14 AM E

Expectant parents shopping for a home are not the only ones concerned about the date of the baby’s arrival.

Mortgage lenders are taking a harder look at prospective borrowers whose income has temporarily fallen while they are on leave, including new parents at home taking care of a baby. Even if a parent plans on returning to work within weeks, some lenders are balking at approving the loans.

...

The lenders’ new attitude can be traced, in part, to new loan quality-control measures that went into effect earlier this year. Fannie Mae and Freddie Mac, the two quasi-governmental mortgage giants that buy the bulk of conventional loans from lenders, have not changed their rules for qualifying for a mortgage. But the system of checks and balances has been tightened, making lenders increasingly skittish.

Fannie, for instance, now requires lenders to recheck a borrower’s financial situation right before the loan closes. That includes calling an employer to verify employment. Before, lenders required only a statement in writing. Fannie’s new rules went into effect on June 1. Freddie’s similar rule took effect in January.

For the entire article go to: Need a Mortgage? Don’t Get Pregnant!

REO Investors Sue for Losses in Alleged Scam

2010-07-19T14:27:00.000-07:00

This is why we preview all speakers before they get in front of an SDCIA meeting!

REO Investors Sue for Losses in Alleged Scam

Monday, July 12th, 2010, 9:51 pm

Fortuno, a company that bills itself as the "Costco of real estate," has been sued by investors in Los Angeles Superior Court for allegedly duping them into buying what were essentially worthless REO properties.

The unrelated plaintiffs claim they were mislead into investing in an REO property flipping scheme that left them with virtually worthless properties, while Lodi, Calif.-based Fortuno made money off the deals, according to the suit, filed by the Law Offices of Andrew M. Wyatt of Los Angeles.

for more... click on: REO Investors Sue for Losses in Alleged Scam

Hopefully, the investors get some or all of their money back... not likely!

CHP are busy giving out lots of tickets

2010-07-19T13:58:00.000-07:00

Has anyone else noticed that the California Highway Patrol are issuing many, many more tickets than ever before? It seems every time I'm on the road I see at least two citations being issued. Do you think they're trying to make up California's budget deficit?

Crabby Old Man

2010-07-13T10:24:00.000-07:00

I spent a lot of time recently in a hospital and saw lots of lonely people. B

Crabby Old Man

What do you see nurses? . . .. .. . What do you see?
What are you thinking . . . . . when you're looking at me?
A crabby old man . . .. . . not very wise,
Uncertain of habit . . . . . with faraway eyes?

Who dribbles his food . . . . . and makes no reply.
When you say in a loud voice . . . . . 'I do wish you'd try!'
Who seems not to notice . .. . . . the things that you do.
And forever is losing . . . . . A sock or shoe?

Who, resisting or not . . . . . lets you do as you will,
With bathing and feeding . . . . . The long day to fill?
Is that what you're thinking? . . . . . Is that what you see?
Then open your eyes, nurse . . . . . you're not looking at me.

I'll tell you who I am. . . . .. . As I sit here so still,
As I do at your bidding, . . . . . as I eat at your will.
I'm a small child of Ten . . . . . with a father and mother,
Brothers and sisters . . . . . who love one another.

A young boy of Sixteen . . . . with wings on his feet.
Dreaming that soon now . .. . . . a lover he'll meet.
A groom soon at Twenty . . . . . my heart gives a leap.
Remembering, the vows . . . . . that I promised to keep.

At Twenty-Five, now . . . . . I have young of my own.
Who need me to guide . . . . . And a secure happy home.
A man of Thirty . . . .. . My young now grown fast,
Bound to each other . . . . . With ties that should last.

At Forty, my young sons . . .. . . have grown and are gone,
But my woman's beside me . . . . . to see I don't mourn.
At Fifty, once more, babies play 'round my knee,
Again, we know children . . .. . . My loved one and me.

Dark days are upon me . . . . . my wife is now dead.
I look at the future . . . . . shudder with dread.
For my young are all rearing . . . . . young of their own.
And I think of the years . . . . . and the love that I've known.

I'm now an old man . ... . . . and nature is cruel.
Tis jest to make old age . . . . . look like a fool.
The body, it crumbles . . . . . grace and vigor, depart.
There is now a stone . . . . where I once had a heart.

But inside this old carcass . . . . . a young guy still dwells,
And now and again . . . . . my battered heart swells.
I remember the joys . . . . . I remember the pain.
And I'm loving and living . . . . . life over again.

I think of the years, all too few . . . .. . gone too fast.
And accept the stark fact . . . . that nothing can last.
So open your eyes, people . . . . . open and see.
Not a crabby old man .. . . Look closer . . . see ME!!

Glenn Beck on Agencies Created by the Health Care Bill

2010-06-16T20:38:00.000-07:00

This is a video on the agencies and regulation created by the Health Care bill. I'm not a fan of this guy however his point is unmistakable!

Steve Wynn Takes on Washinton on MSNBC

2010-06-16T20:25:00.000-07:00

Steve Wynn telling it as he sees it!

Steve Wynn Takes on Congress!

This guy's pretty smart & he's pretty unhappy...

SD Homeowner's Dealing with a Bank & Default/Foreclosure

2010-06-01T15:48:00.000-07:00

This the experience of a San Diegan dealing with their bank & foreclosure:

Bill:

I was able to negotiate a lower payoff with the bank. They wanted $50k to bring the loan current but were willing to accept $36k to stop the foreclosure and pay the balance over the next year or so. I managed to raise the money as a private loan by pooling together the funds from three friends. It will be paid back in a year from the equity in the house as we will be downsizing when my daughter finishes high school in June. It is a relief to know the crisis has been averted.

I thought you would enjoy hearing some good news to start off your week. It was good talking to you. Hopefully next time it will be on more pleasant topics. Thanks for your support.

This message was from last October & today it's June. I'll find out the results & report them too.

Senate Passes Financial Reform Bill

2010-05-26T20:10:00.000-07:00

The Senate passed their version of the Financial Reform bill on Sunday. This bill includes the section essentially abolishing seller financing for real estate investors. Admittedly I'm critical of the bill.

Here is a very good article out of the The Atlantic magazine about the bill:
Senate Financial Reform Bill Passes

We have one more opportunity to get our voices heard as the bill goes back to the House of Representatives to reconcile the differences between the two versions.

We're back to "Kill Bill HR1728". I admit that's not likely, so I'd settle for them to just remove the section regarding seller financing.

The Number of Bank Failures Grows 64 So Far This Year

2010-04-30T22:43:00.000-07:00

Government regulators expect the total number of bank failures in 2010 to eclipse the 140 that failed in 2009...

U.S. Role in Mortgage Market Grows Even Larger

2010-04-30T22:35:00.000-07:00

Wall Street Journal article.

The U.S. government's massive share of the nation's mortgage market grew even larger in the first quarter, rising to 96.5% of all home loans during the first quarter, up from 90% in 2009.

U.S. Role in Mortgage Market Grows Even Larger

We need to get private money back into the financial markets.

Problem Loans Outpacing Efforts by Industry & Government

2010-04-25T20:52:00.000-07:00

I read in a newsletter for real estate brokers (ask me privately for the source) that "problem loans are far outpacing the efforts of the lending industry and the government to restructure unaffordable mortgages." The ratio is almost 3-to-1 of loans going bad to restructuring loans. This on top of the fact that most modified loans are delinquent and/or in default in one year.

It's all politics and trying to look good; even if it's wasting taxpayers money to look good.

Can they really wait until the economy turns around to deal with all of the foreclosures and bad loans? I don't think so...

Office Copiers May Hold Personal Secrets

2010-04-25T17:57:00.000-07:00

I'd like to thank Augie Scampone for letting me know about this informative and important investigative video.

Office Copiers May Hold Personal Secrets

This would also apply to personal copiers that small businesses have as well as those found at FedEx Kinko's, Office Depot, Staples, public libraries and at other public locations. BEWARE and protect your sensitive information!!!

The Norris Group Real Estate Radio Show and Podcast welcomes Bill Tan

2010-04-24T08:59:00.000-07:00

Bruce Norris hosts a weekly radio show. He interviews interesting people about current real estate topics. Listen to all of the archived shows. They're really good!

The Norris Group Real Estate Radio Show 4-24-2010

How foreclosure impacts your credit score

2010-04-22T16:11:00.000-07:00

Hope this www.CNNMoney.com article will help you or someone you know. This particular quote was worth reading the whole article.

"Despite the problems a poor credit score can cause, Experian's Sweet recommends that people who are in financial dead ends, like totally unaffordable mortgages, it's better to recognize that and cut your losses quickly; don't prolong the problem.

'You need to do what you need to do to get your finances back in order," she said. "Don't worry about your credit score.'"
How foreclosure impacts your credit score

This article is also for investment properties too. And for heaven's sake; DO NOT PLEDGE YOUR OWN HOME AS COLLATERAL FOR INVESTMENT DEALS. I've seen too many people not heed this advice and now have their personal house at risk due to bad investment decisions.

Earthquake Driving, Disaster Safety & Creating Your Own Car Disaster Kit

2010-04-05T17:41:00.000-07:00

My friend Elaine Masters: entrepreneur, speaker & owner of Drivetime Yoga www.DrivetimeYoga.com, wrote an appropriate newsletter after yesterday's earthquake. You've heard of & probably have (I hope) a Home Earthquake Disaster kit. Here's information on creating a Car Disaster kit! Elaine's really nice & I know you'll like her.

I was returning from an Easter trip on Sunday afternoon when the earthquake hit. Although we were in a parking lot at the Long Beach ferry terminal, you could feel the ground roll. At first, I dismissed the shaking as part of the terminal docking machinery. We learned what actually happened while driving home. The freeway suddenly seemed ominous and I realized how little prepared I was. In this issue, I'm focusing on preparing your car so you'll be better prepared even miles from home with your disaster kit in the trunk.

Take care of Number One first: If you find ever find yourself in an emergency situation with your blood pressure spiking and your mind racing out of control, try this calming breath technique to relax and ground. You can be a beacon for your family & friends in a dire time.

Alternate Nostril Breathing:
1. Try this with your eyes closed if that's safe and comfortable, but it also works with your eyes open. Begin on an inhale.
2. Place your right thumb on your right nostril and blow out the left nostril.
3. Then inhale through the left, then place the middle finger of your right hand on the left nostril.
4. Release the right nostril to exhale.
That is one cycle. Repeat for 5 to 10 minutes to restore balance and calm.

Disaster Preparedness: FEMA has a great disaster safety brochure that's available online. Their suggestions for driving during an earthquake include:

Stop as quickly as safety permits, pull to the side of the road and stay in the car.

Avoid stopping near or under buildings, trees, overpasses and utility wires.

Do not attempt to drive across bridges or overpasses that have been damaged.

Proceed cautiously after the earthquake has stopped, watching for road and bridge damage.

If you are on the coast be aware of possible tsunamis, drive inland and to higher elevation. Avoid parking in low lying areas.

Do not use your car, unless there is an emergency. Do not go sightseeing through areas of damage. You will only hamper the relief effort. Keep streets clear for the passage of emergency vehicles.

For more suggestions to make your trip enjoyable and safe take Drivetime Yoga and Flytime Yoga along. Learn more...

Happy travels!

Elaine Masters, RYT, speaker & author

Speaker, author, creator of products for business travelers, office workers and commuters. www.DrivetimeYoga.com, Amazon.com and Baker & Taylor Distributors wholesale. Flytime Yoga and Drivetime Yoga are registered trademarks. All rights reserved. Copyright 2010, The YoGo Project.

Creating Your Own Car Disaster Kit

You can create your own Car Disaster Kit tailored to your families' needs and tastes.
Your kit may contain:

Kitty litter or sand bag for slick road conditions (especially in winter)
Jumper cables
Inflated spare tire
Cotton gloves with traction dots and heavy duty gloves
Jack - make sure it's always in the car
Extra windshield wiper fluid
Reflective safety vest and reflectors for the road to avoid accidents while fixing car
All purpose medical kit
Hammer
Whistle
Flashlight
Blanket
Extra bottles of water (only buy PET safe bottles to avoid plastic contamination)
Protein, granola bars and nuts
Napkins, wipes
Extra batteries
Extra essential medications, toothbrushes, small soaps & shampoos, towel and toilet paper.
Other great links:
Great online list from Edmunds to create your own roadside emergency kit.

AAA Severe Weather Kit review

Martha Stewart video on Preparing Your Own Car Safety Kit

Remember to breathe deeply, stretch often and stay well with Drivetime and Flytime Yoga. More about the Flytime Yoga Booklet & Passport Wallet.

The Top 10 Privacy Myths

2010-04-04T17:05:00.000-07:00

Here is an article from Darity Wesley, an expert on privacy solutions. This is one of her newsletters.

Privacy 101- Myths About Privacy
By Darity Wesley

"The great enemy of the truth is very often not the lie deliberate, contrived and dishonest but the myth persistent, persuasive and unrealistic."
- John F. Kennedy

Privacy has been an issue over the millennia and its role in our daily lives continues to be an important discussion in our personal as well as professional worlds. This month I offer you the top 10 Privacy Myths so you can find out for yourself, “What’s privacy got to do with me?” Actually, it has quite a bit to do with you both personally and professionally.

The Top 10 Privacy Myths are:

10. I am sure corporate is taking care of this for us. Don’t be so sure...if there is no privacy policy stated in the employee manual, then there probably isn’t one. You need to ask to find out how your personally identifiable information, like your social security and driver’s license numbers, are being protected.

9. There is no Return on Investment on privacy protection. If a company does not have a privacy policy and terms of use statement on their website as prescribed by law, I am not inclined to give them my business. More and more, the FTC and the U.S. Department of Justice are surfing the web to find violators of these laws. Additionally, many top-notch businesses use their superior privacy and information security policies as effective branding and marketing tools.

8. The company I’m doing business with knows what it is doing. They may or may not. The only way to know for sure is to read their privacy policy. If it is not evident, ask to see it. Also, I am leery of websites that have no contact information beyond an email address. If given a choice, I will do business with someone who offers complete information.

7. I don't collect any information from people. If, in the normal flow of your business, you add an email address to your contacts then you are collecting information – and you need to protect it.

6. If they are asking for my Social Security Number (SSN), they need it. Wrong. SSNs are not designed to be personal identification. Don’t give your number to anyone unless they are mandated to use it. If your SSN is requested on a form just enter: Not Applicable or N/A. If they really need it they can ask you for it directly and you can ask them why they need your SSN.

5. I have to give out information to anyone who asks for it. No, you don’t! For example, if you go to buy new tires and they ask for any personal information like your email address, you are not obligated to give it to them. When you volunteer personal information like that you get added to their database and the next thing you know it’s sold and you are getting lots of spam.

4. All websites that take credit cards adequately protect my financial information. Not necessarily, even though they are directed to by law. I am leery of websites which process credit card transactions and do not display a secure website icon or do not provide contact information beyond an email address. You should think twice before doing business with a site like this.

3. One easy to remember password is good for all of the websites I use. Passwords tend to be pretty predictable for most people. I strongly recommend having unique passwords for your social networking websites that are not at all similar to your online business ones. That way, if someone finds out what your password is they cannot use it across other websites that you use. It’s also a good idea to change your passwords every year or so.

2. Privacy is a right. In ancient cultures, the ability to run off from the tribe, to hide out in a cave and not participate was considered ‘privacy’. You may be surprised to know that the U.S. Constitution does not provide any explicit right to privacy. As we moved into the Industrial Age, a new concept was raised in an 1890 Harvard Law Review article written by Louis D. Brandeis, who served on the U. S. Supreme Court from 1916-1939, and his Boston law partner Samuel D. Warren. The article, which was apparently a response to newspaper reports published regarding the behavior of Warren’s wife in social settings, defined privacy as ‘the right to be left alone’. Now it is has become the right to protect our personal information.

And the #1 Privacy Myth is (drum roll please) I’ve got nothing to hide. You may have no criminal activities in your past, but you do have a trail of private personal and financial information you want to shield in order to protect yourself from the horrors of identity theft.

The Privacy Guru® says, “As always, stay aware and alert!”

Darity Wesley is CEO and Legal Counsel for Privacy Solutions, Inc. a San Diego based consulting firm. You can always reach Darity at Darity@PrivacyGurus.com or 619-670-9462.

You know, the Census Bureau is sure asking a lot of questions. And they & the government and so careful with our information, aren't they?

I'm not suggesting you be paranoid, just be aware.

Sharpen Your Ax!

2010-04-03T18:31:00.000-07:00

“If I have 8 hours to chop down a tree I am going to spend 6 hours sharpening my ax!” __ Abraham Lincoln

Information is knowledge and knowledge is power.

Your Voice Counts by Tony Alvarez

2010-03-30T14:42:00.000-07:00

Here's a great commentary by my friend Tony. It's followed at the bottom by an opportunity to let your voice be heard via anonymous polls by Fox & CBS News. Once you take the poll, you see the results of other voters. I was surprised.

YOUR VOICE COUNTS!

I know you guys think I'm all about real estate, but I also have some very strong opinions about other things as well. Recently, I was having a conversation about the political changes that our country is going through and its effects on real estate and finance.

My friend responded with "I don't wanna think about any of that stuff 'cause I can't do anything about it." It's a sad moment in our country when an American citizen has reached the conclusion, in their own HEART AND MIND, where they sincerely believe that they have absolutely no power over their own destiny. And that opinion is absolute hogwash and definitely the most un-American statement I have ever heard.

This is the same fear based thinking that leads to inaction in our investment lives. The only thing YOU have to do to SQUASH those fear based thoughts is to get off your butt and TAKE ACTION! Voice your opinion regardless of what you imagine the consequences will be.

If I have any agenda, it is to FREE YOUR MIND and remind you that, as with anything that you feel strongly about pursuing, it is always within your power to make it happen for yourself. Regardless of your political views, here's a chance to let your voice be heard. It takes less than 15 seconds, yet the moment that you do it, you'll be quickly reminded of what it feels like to be an American. We "still" have the right to enjoy the freedom of giving a voice to our heartfelt opinions. For god sakes, EXERCISE IT! Take some action. Voice your opinion. Email everyone you know and tell them what you think. Get involved! You just might find that you can, in fact, make a huge difference. If nothing else, you will know you have done the best you can possibly do. And that's as much as anybody could ever ask of you.

Our right to choose and take action is the most valuable asset that we, as individual human beings, posses. And especially as Americans, historically, we have paid and continue to pay a tremendously high price to hold onto that freedom. It has never been our way to go quietly into the night. Use it or loose it - it's YOUR CHOICE!

Love,

Uncle Tony

www.TonyAlvarezBlog.com
www.TheREOMentor.com

Fox News Poll

Is Health Care Bill a Victory for America?

CBS News Poll

Grade Obama's First Year in Office

FYI. Tony always has our national flag prominently displayed whenever he puts on a workshop or seminar.

Bruce Norris on Fox Business Live!

2010-03-30T14:22:00.000-07:00

Bruce Norris on Fox Business Live

Here's a 9 minute segment of Bruce getting interviewed on Fox Business Live dated March 12, 2010. He's great as always. We will see him again at the SDCIA May 11th meeting too!

The future of supermarkets?

2010-03-29T23:00:00.000-07:00

This article was in BusinessWeek magazine March 11, 2010.

A Food Fight for Hugo Chavez

With his popularity sagging, Venezuela's fiery President is seizing supermarkets from owners. But can he keep stores stocked?

This is what happens in socialist societies like Venezuela. Ask anyone that lived in Eastern Europe before the fall of the Soviet Union. Shortages were the norm. There is an elitist group that has enough of everything & the rest struggle with shortages.

With everyone I've ever met that lived in Eastern Europe or even Cuba, they were absolutely astounded by something we take for granted every day; a clean and fully stocked supermarket with fresh fruits, vegetables & meats. I urge you to look for someone from these countries and talk to them about what they love most about our country. I betcha markets are at or very near the top.

Governor Signs Home Buyer Tax Credit Legislation Into LawGovernor Signs Home Buyer Tax Credit Legislation Into Law

2010-03-25T22:37:00.000-07:00

Governor Schwarzenegger signed Assembly Bill 183, the Homebuyer Tax Credit legislation, into law today.

AB 183 will provide $200 million for home buyer tax credits, allocating $100 million for qualified first-time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes. The eligible taxpayer who purchases a qualified personal residence on and after May 1, 2010, and on or before Dec. 31, 2010, or who purchases a qualified principal residence on and after Dec. 31, 2010, and before Aug. 1, 2011, pursuant to an enforceable contract executed on or before Dec. 31, 2010, will be able to take the allowed tax credit. The credit is equal to the lesser of 5 percent of the purchase price or $10,000, in equal installments over three consecutive years. Under AB 183, purchasers will be required to live in the home for at least two years or forfeit the credit (i.e., repay it to the state).

The impact of the federal home buyer tax credit is clear. Nearly 40 percent of first-time home buyers said they would not have purchased a home if the federal tax credit for first-time home buyers was not offered, according to California Association of Realtors research conducted last year.

So as long as government subsidizes buyers, lower-priced housing will continue to fuel the real estate market.

Molly the Owl

2010-03-23T20:55:00.000-07:00

Our friend, Carlos Royal, has captured the imagination of thousands by providing a LIVE video feed of a barn owl. He & his wife, Donna, have named the female owl Molly. This is an up close viewing into the life of Molly & her mate as they raise their family. It's even made the channel 5 news in Los Angeles!

My wife's hooked! Maybe you will be too!

www.ustream.tv/theowlbox

U.S. Treasury and Labor Departments looking to convert IRAs & pensions to Govt. annuities

2010-03-23T18:12:00.000-07:00

The U.S. Treasury and Labor Departments are looking to convert private IRAs & pensions into government annuities. The idea is to convert the accounts to investing in U.S. Treasury bonds. Realistically, the Legislature will make the money available to pay the government debt; just like they did with the Social Security monies. And we're all being told not to expect Social Security to pay us upon our retirement...

There is “a tremendous amount of interest in the White House” in retirement-security initiatives, according to Assistant Labor Secretary Phyllis C. Borzi.

“I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.” __ Thomas Jefferson

Here are links to three different articles on the subject:

http://www.bloomberg.com/apps/news?pid=20603037&sid=aHFCE999fWR0

http://relistr.com/real-estate/us-treasury-plans-to-change-your-401k-and-ira-into-annuities.html

http://biggovernment.com/jarenas/2010/03/09/the-united-states-of-argentina-obamas-pension-grab/

Stand up and give voice to your representatives in Washington or live with the results. If you do not tell them otherwise, your representatives will believe you agree with them... may be you do.

Kill Health Care Bill, contact your representative IMMEDIATELY

2010-03-18T19:32:00.000-07:00

I hope you've been paying attention to what's going on in Washington. The supporters of the health care bill are trying to PERMANENTLY tie education to the health care initiative in order to get it passed!!! This is the showdown for a socialist state (Nazi Germany, Soviet Union, et al.) or a capitalist one. Your choice.

THEY ARE VOTING ON SUNDAY!!!

Let your voice be heard NOW because this will fundamentally change the way our country operates from capitalism to socialism:

Phone
202-224-3121 or

Email
http://www.speaker.gov/contact/comment_email

Master Ukulele Bill Tan

2010-03-16T09:20:00.000-07:00

Not me, my father. Those of you that were on the cruise in October got to meet him. Unfortunately, I couldn't convince him to bring his ukulele along.

YouTube - I Left My Heart In San Francisco & Here's that Rainy Day & One Note Samba

Master Ukulele Bill Tan Plays "I Left My Heart in San Francisco" ... Master Ukulele Bill Tan plays "I'll Remember Ap... 2064 views ...

http://www.youtube.com/watch?v=gRGnIgEnjjc&feature=youtube_gdata

http://www.youtube.com/watch?v=CzH6w_-7A2Y&feature=channel

Be sure your sound is on!

Important consumer info: tips on how to stop a car that suddenly accelerates

2010-03-15T23:44:00.000-07:00

This has renewed importance recently. Here are tips on how to stop a car that suddenly accelerates uncontrollably.

This clip that points out what to do and what not to if you're driving a car that suddenly accelerates. Since the Toyota incidents, it's vital to watch this and share it with your family and friends.

http://video.consumerreports.org/services/player/bcpid1886192484?bctid=48234862001

Drive safely!

Peter Fortunato's b-day

2010-03-15T15:44:00.000-07:00

Today, March 15th, is Pete Fortunato's birthday. Wish him Happy Brithday if you get a chance.

Bill Tan explains a wraparound mortgage/AITD

2010-03-15T01:58:00.000-07:00

Last January 30th, Shawn Watkins & Aaron Mazzrillo put on a creative financing seminar. I was honored when they asked me to open the event with an explanation of what creative financing is. Someone was recording it and this is the end of my presentation where I explain what a wraparound mortgage and an all-inclusive trust deed (AITD) is. It's a 9 minute clip that begins well into my explanation. Let me know what you think.

http://www.youtube.com/watch?v=4ADcIwjviuc&feature=youtube_gdata

Maui Mastermind/David Finkel - Build a Level 3 Business workshop reviews

2010-03-08T22:24:00.000-08:00

Here are attendees reviews about the workshop:

This is in response to your request about our opinion of the Maui Mastermind experience. I thought it presented a lot of information and kept fairly well on track. Even though I don’t wish to build a level 3 business myself, I can see what direction I should head in so I don’t end up being a slave to my business. The information was organized and laid out in a logical fashion. Even though they did have one guest speaker selling her program, it tied into the subject, and she was not as long-winded as most “selling” speakers.

My only “beef”, as with almost every seminar, is the fact that they made a big deal about being back from our breaks on time, yet as the seminar progressed, they themselves got worse and worse about starting on time. Since they were running behind on the last day, because of this reason, the explanation of how to operate a Mastermind Group was hurried through. Since “Mastermind” is in their company’s name and a major topic in their book, I was surprised that the topic was glossed over so quickly, saying that we could read the sheet for ourselves.

But all in all, I would definitely recommend it to someone wishing to build a business. __ T.B.

---
Thank you for introducing David and Stephen. I appreciated the huddle at the last day for feedback. Per your request, would like to provide some input.

-Good material for beginners
-Good business outline for the start up and how to use their consulting services if need be, and make a company valuable to sell
-Excellent Time Management Piece: I agree with you that this was possibly the best part
-Didn’t discuss partnerships as promised before the lunch break on Sunday. I would like to request some info or follow up if that permits
-Great value for SDCIA members: Thank you for setting that up!
However, most workshops are up selling. The more you pay, the more you get perhaps.

The only speaker of the panel of 4 on Sat. early afternoon, was Pakreet Padda, that I found very successful. But he was a MD prior to building businesses. With a high income to begin with, it’s easy to thrive with the right people for ventures.

Please take my feedback as an opinion. Thank you again for putting all this together and SDCIA for us to hone our skills. __ J.H.

---
I've been to several seminars since I began this new educational process last year. Compared to the others I've attended, the Maui weekend offered more good content and less snake oil than any of them. I felt that David Finkel was a high-quality dude (meaning he was sharp, pleasant and sincere), and I was impressed with his candor and the panel he assembled for the Q & A session. I did not sign up for the high-dollar stuff so I can't speak to what they do when you're in their student stream. Besides the fact that they didn't shell out for any food, coffee or frills of any kind, I thought it was a terrific use of my three-day weekend to be there.

I appreciate your efforts to steer these folks toward value, and I think you're right on in using the club resources for this purpose. Great job; thank you! __ D.H.

---
The focus of this conference was Business Development: working with business owners to help them both grow their businesses independent of themselves and to grow their wealth independent of their businesses. It,too, was both well planned and well executed. David Finkel was the primary speaker. He is fortyish, talented, enthusiastic, knowledgeable, and dynamic business owner, real estate investor, author, and educator. A panel discussion provided a friendly yet intensive interaction between the audience and several panel experts who represented a wide range of real estate investment and business development experience.
Bill, as you know, I subscribe to both of these organizations. And I believe that both Than and David provide excellent education, materials, resources, and conferences. I recommend them as speakers for SDCIA.
__ A.L.

---

Fortune Builders/Than Merrill Marketing & Wholesale Bootcamp review

2010-03-08T22:12:00.000-08:00

Here are attendees review of the bootcamp:

I attended this conference from start to finish. The conference focus was the Marketing and Wholesale of Real Estate Investments. It was both well planned and well executed. Than Merrill was the primary speaker. He is young, talented, enthusiastic, knowledgeable, and dynamic. A panel discussion provided a friendly interaction between the audience and several panel experts who represented a wide range of real estate investment experience.

Bill, as you know, I subscribe to both of these organizations. And I believe that both Than and David provide excellent education, materials, resources, and conferences. I recommend them as speakers for SDCIA.

__ A.L.

---
It was a pleasure speaking with you today. J and I wanted to share our experience this weekend at "Than Merrill's Wholesaling Boot camp" in San Diego.

At the wealth builders expo in January we listened to several speakers share their concepts and training programs. Being new to the investing arena J and I were comparing a few key points to determine who we may align with and what school we would attend for additional training.

J had checked out the Norris group, on line and through his radio program. He was very impressed with the systems, knowledge and information they are willing to share with their listeners. At the seminar they offered their three day boot camp and hard money lending for their students ($3995 per person): They also offered to rebate the cost of the seminar back to you on every deal that you use their hard money program.

The reason we did not sign that day was: They operate in Riverside county: The cost was more than we had to spend and we thought it would be valuable to work with a company in the county that we wanted to invest in, which in our case is San Diego.

When Than Merrill presented his company: They were offering a cash buyers list in our area: A four day wholesaling boot camp located in San Diego. They also offered to walk their students through their deals and lend hard money to their students who were able to fund their own deals. They also seemed to have a great system for marketing on line and direct mail campaigns. In addition, they were offering a discount: $1995.00 for two people. For these reasons we were the first to stand up and accept the offer.

This was our first real estate seminar; I would say our expectations were that at the end of the four days we would have a clear picture of the steps needed to complete a wholesale deal. The first day was an overview of information that you could apply to any business. It was a lot of great ideas of marketing and a basic "how to" to do business. We were excited that if the remaining three days were filled with that much information on wholesaling our expectations would not only have been met, but exceeded.

Day two we were expecting to learn about the acquisition of probate properties and instead we heard from a”Vegas Hypnotist"! Marshall Sylver. He was selling his seminar for $2000. He told the room that if we were not willing to implement his systems we shouldn't do real estate investing because it was the missing link. The entire time he spoke he had the crowd raising their hands in agreeance, he went as far as to say if you do not agree with this program and do not want to attend his seminar you should leave right now!! I didn't feel it was his place to tell those who were not interested in his seminars to leave the wholesaling boot camp. One thing is sure he was able to control a lot of people in the room and therefore many signed up.

That afternoon was a segment on rehabbing: There was some good general information on rehabbing properties and working with contractors; however, the rehab Boot Camp in San Diego this July was now being sold. (2000.00)

That afternoon Than Merrill spoke. There was information throughout the seminar that would be very valuable for all who attended. However, now the selling for the Mastery Program began. Here is when we discovered that although we had signed up for the wholesaling boot camp and the cash buyers list that did not make us students. To become a student with the benefits of the Fortune Builders assistance for your first several deals and the use of their hard money lenders you needed to join the Mastery Program that cost $25,000. They said there were three levels of commitment; however, the only dollar amount we heard was the highest level of $25,000.

I had heard that they tried to up sell people at these seminars before: however, I never expected this.

The third day there was a teaching on tax planning and corporate set up. Of course this is very valuable information and they were also selling their program. ( I heard from another student it cost; $7,500.00)

The Memphis Invest group followed the tax segment. There was a lot of information on the Memphis Company and purchasing properties to hold as long term investments. The company locates the properties, you invest and they take care of the property management for you. (Although this was a turnkey operation, it doesn’t have anything to do with wholesaling).

Day four began with locating private money for your investing: growing your company, hiring employees and building your team. (Again good information.)

Then the selling began with Zach Childress and MLS Gorilla. His concept was a virtual investing business and taking that to the next level with all virtual assistants. Although there was good information for this type of business plan, it seemed to be specific to his program.

I think I was disappointed in the lack of a comprehensive plan to come home Monday morning and begin wholesaling properties here in San Diego with the assistance of Fortune Builders team and access to their hard money loans.

I don’t believe I would have attended the boot camp and spent the money if I thought we had to spend an additional 25,000 to get access to the benefits Than Merrill presented at the Wealth Builder Seminar.

Thank you for taking the time to listen to our concerns. __ M.A.

---

Peter Fortunato speaking to SDCIA Tuesday March 9th

2010-02-26T19:57:00.000-08:00

One of my original mentors, Peter Forunato, is coming to speak to us on Tuesday March 9th. Pete is a MASTER at Deal Structuring. He is well-known on the East Coast and all of his seminars are filled with the most successful real estate investors in the country. He last spoke to the SDCIA more than ten years ago.

Peter has a unique ability to see very advanced and creative ways to structure transactions AND CLEARLY EXPLAIN them. I believe that Pete is one of the most brilliant and creative real estate minds in the country. He really opened my eyes to conceive, structure and document deals in a way no one else can.

Pete is so special that he is coming to speak to us at the SDCIA AFTER he teaches a two-day class!

Here's a link to see a video of Pete & listen to a one hour conference call:

http://www.cashflowdepot.com/live-events/one-step-beyond-seminar-w-peter-fortunato.aspx

Have a great weekend & I hope to see you at Bruce Norris' "Tip of the Iceberg" class.

2010-02-23T17:39:00.000-08:00

Obama's 2010 budget will run a 1.5 Trillion deficit. It is estimated that if the government stays on the same course it has been on for the past forty years, the federal government will soon have a $10 trillion budget.

What is a Trillion anyway? According to 10077.com it is a 1 followed by 13 zeros; if you placed one dollar bills end-to-end the chain would stretch between the earth and the moon 200 times; a military jet traveling at the speed of sound would have to be airborne 14 years to unwind a trailing roll of one dollar bills.

So $1.5 Trillion of dollar bills would take that jet 21 years to unwind. That's a lot of money. I hope our recession doesn't take that long to unwind.

BTW, California's budget gap (deficit) is expected to be $6.6 Billion this year & is expected to grow to $14.5 Billion next year.

Bruce Norrris webinar video "Tip of the Iceberg"

2010-02-23T16:43:00.000-08:00

Here is the link to the video of the Bruce Norris webinar held February 2nd. This a pre-seminar event he produced in prior to his workshop this Saturday February 27th in Costa Mesa.

http://www.thenorrisgroup.com/index.php?cID=337

If you're interested in the workshop; Bruce promises to give us the most informative update of the California market. Here's the link:

http://www.thenorrisgroup.com/training/tip-of-the-iceberg

I recommend all of Bruce's trainings. If you sign up, use the "Special Code = alist" for $100 off of the seminar price.

Figure Out How to Make It Work

2010-02-23T16:23:00.000-08:00

This was from a weekly email from my friend Gary Johnston:

What matters more....

One of the questions that is top of mind for everyone is “Where is the economy headed this year?” I believe it is important to study the economy and think through were things are headed so you can prepare for the future. I read several publications to stay abreast of the US and world economies. However, it is important to be very careful that you don’t let the doom and gloom impact your thoughts too much.

My Dad had only been in business a little over a year before a big recession hit. He had started the business with very little down and a big loan. He worked hard 7 days a week to make the business work. He could have used the news of the recession to give up and let the business fail. Instead, he got up every morning and figured out how to make it work. He didn’t let the news of the recession stop him. His focus was to figure out a way to keep the business going and succeed. He made it though with flying colors.

What matters more - where the economy is headed or where you are headed? Turn off CNBC and set the Wall Street Journal aside and go figure out how to make it work!

That’s my Monday Thoughts.

If you like this, contact Gary & join his weekly newsletter. gary@moneynotmath.com

FHA and Fannie: Pushing Foreclosure Sales w/ Tony Alvarez comment

2010-02-08T11:43:00.000-08:00

FHA has lifted the 90 day rule for reselling properties. Anyone who wished to sell their property using FHA financing has had to wait at least 90 after buying. This was directly aimed at investors who wanted to "fix & flip" properties. So even if an investor completely renovated a property in three weeks, they could not sell the property using the easy to obtain and qualify for FHA loans, And the beautifully rehabbed properties were subject to theft and vandalism and loss for the investors.

Fannie Mae is now offering assistance for buyers of its foreclosed properties.

Here's the link to the article: http://www.cnbc.com/id/35184396

Here's Tony Alvarez's response to the article:

"THE PARTIE'S JUST BEGINNING!

As I have mentioned many times over the past 12 months as we approach this years election, the Government will move quickly to remove some, if not most, of their restrictive policies that they themselves have created within the past year. This is all politically motivated and not at all in the spirit of solving any problems for anyone.

They are basically hoping to look good and keep the wheels greased so something positive starts happening and we take our eye off the election ball.

Stay alert to these new opportunities and above all make your vote count this year as never before. It is our deepest commitment to remove the absolute power presently corrupting our nation's politicians. We need balance. We need to hold them to a higher standard and only when we can make them remember that they are ALL expendable, if they forget they represent our collective best interest, can we hope of standing a chance of unraveling this financial mess with our heads intact."

For more from Tony or his newsletter, go to www.THEREOMENTOR.com

Stroke Identification

2010-02-01T16:30:00.000-08:00

My aunt just suffered a stroke. I hope you find this useful. It just may save the life of someone you love.

Stroke Identification

During a barbeque, a friend stumbled and took a little fall - she assured everyone that she was fine (they offered to call paramedics) and that she had just tripped over a brick because of her new shoes. They got her cleaned up and got her a new plate of food. While she appeared a bit shaken up, Ingrid went about enjoying herself the rest of the evening. Ingrid's husband called later telling everyone that his wife had been taken to the hospital - (at 6:00 pm, Ingrid passed away.) She had suffered a stroke at the BarBQ. Had they known how to identify the signs of a stroke, perhaps Ingrid would be with us today. Some don't die. They end up in a helpless, hopeless condition instead.

It only takes a minute to read this...

A neurologist says that if he can get to a stroke victim within 3 hours he can totally reverse the effects of a stroke...totally. He said the trick was getting a stroke recognized, diagnosed, and then getting the patient medically cared for within 3 hours, which is tough.

Recognizing a Stroke

Remember the 3 steps, STR. Read and Learn!

Sometimes symptoms of a stroke are difficult to identify. Unfortunately, the lack of awareness spells disaster. The stroke victim may suffer severe brain damage when people nearby fail to recognize the symptoms of a stroke. Now doctors say a bystander can recognize a stroke by asking three simple questions:

•S: Ask the individual to SMILE .

•T: Ask the person to TALK; to SPEAK A SIMPLE SENTENCE (Coherently) (i.e. . It is sunny out today)

•R: Ask him or her to RAISE BOTH ARMS.

•Ask the person to stick out their tongue. If the tongue is crooked (if it goes to one side or the other), that is also an indication of a stroke.

If the person has trouble with ANY ONE of these tasks, call 911 immediately and describe the symptoms to the dispatcher.

Copyright © 2009, Regents of the University of California. All rights reserved.

Laughter and aging

2010-01-29T13:00:00.000-08:00

We don't stop laughing because we grow old; we grow old because we stop laughing.

"Move Over" Law video

2010-01-29T12:54:00.000-08:00

In California, and 47 other states, the "Move-over" law became effective on January 1, 2010.

http://www.moveoveramerica.com/

This is one of the many new laws that went into effect this year. It shouldn't have been necessary but many drivers don't pay any attention to it. Please drive safely and follow the rules.

Ray Stevens on Taxes

2010-01-27T00:56:00.000-08:00

Ray Stevens, the singer, sings a song about taxes. It's a hoot. Be sure to read the lyrics. It's called "If Ten Percent Is Good Enough for Jesus"

http://susie1114.com/10percentisgoodenough.html

Traffic Tickets Fines in effect 1/6/2010

2010-01-21T11:23:00.000-08:00

Please drive carefully and obey the law, the fines are really steep now. Make sure you count to 3 at every stop sign and count to 6 when you are making a RIGHT TURN on RED LIGHT. No more "California Roll".

Traffic Tickets Fines - 1/6/2010 in effect

VC 12814.6 - Failure to obey license provisions. $214

VC 14600(A) - Failure to notify DMV of address change within 10 days. $214
            Note: The fine may be reduced with valid proof of correction.

VC 16028(A) - Failure to provide evidence of financial responsibility (insurance). $796
            Note: This fine may be reduced with proof of insurance on or after the violation date.

VC 21453(A) - Failure to stop at a red signal. $436

VC 22349-50 - Unsafe Speed, 1 to 15 miles over the limit. $214

VC 22349-50 - Unsafe Speed, 16 to 25 miles over the limit. $328

VC 22450 - Failure to stop at a stop sign... $214

VC 22454(A) - Passing a school bus with flashing red signals. $616

VC 23123(A) - Drive using wireless phone not hands free, First offense. $148

VC 23123(A) - Drive using wireless phone not hands free, For each subsequent offense. $256

VC 23123.5(A) - Drive while wireless device to send, read or write text. $148

VC 23124(B) 16 - Minor drive using wireless phone. $148

VC 22500(I) - Parking in a bus loading area. $976

VC 22507.8(A through C) - Violation of disabled parking provisions, first offense. $976

VC 22507.8(A through C) - Violation of disabled parking provisions, second offense. $1876

VC 26708(A) - Unlawful material on vehicle windows. $178

VC 27150(A and B) - Adequate muffler required. $178

VC 27315(D and E) - Mandatory use of seat belts. $148

VC 27360(A and B) - Mandatory use of child passenger restraints. $436
            Note: This fine may be reduced by completing a court authorized child seat diversion program.

VC 27400 - Headsets/Earplugs over both ears. $178

VC 27803 (A through C) - Motorcycle safety helmet requirements. $178

VC 34506.3 - Commercial Driver - Log book violation. $616

VC 4000(A) - No evidence of current registration.. $256
            Note: The fine may be reduced with valid proof of correction.

VC 4159 - Notify DMV of change of address within 10 days. $178
            Note: The fine may be reduced with valid proof of correction.

VC 5200 - Display of license plates. $178
            Note: The fine may be reduced with valid proof of correction.

VC 9400 (A through C) - Commercial weight fees due. $178
            Note: The fine may be reduced with valid proof of correction.

The price of everything has gone up!

Real Wealth Expo this weekend Jan 22-24th. It's FREE

2010-01-20T23:01:00.000-08:00

I'm doing a exchanging/cowboy auction workshop at the Real Wealth Expo at the Scottish Rite Center ( http://www.realwealthinvestor.com/real-wealth-expo-2010/?RM) this Friday evening (not Saturday like I told everyone until today) from 6-9 PM, Saturday afternoon a part of a panel with Bruce Norris & others and providing counseling to participants at a "Pro/Help Desk throughout Saturday.

Here's the schedule of events/speakers: http://expo-video.s3.amazonaws.com/Schedule%20RWE%20San%20Diego%201.17.10.pdf

Bring valuable stuff that you don't want or need & participate in the Cowboy Auction Friday evening!

Stay safe & dry till then!

Some Predictions for 2010

2010-01-18T13:02:00.000-08:00

Some Predictions for 2010 according to David Goldberg, home-building analyst for UBS, a global financial services firm.

"... the government is going to do everything in its power to protect home prices...In the end; we believe that concerns about higher rates and declining mortgage market liquidity won't amount to much. In our opinion, the government continually made it clear that it is working to limit further home price declines given the serious ramifications these declines would have for both consumers and lenders."
Yes, the government will continue to do everything to maintain home prices. Higher interest rates are coming. Banks & the financial system are the base for our country's economy. The mortgage market's liquidity is the basis for much of our past prosperity & is a function of risk & reward. If investors see reduced risk & sufficient reward, they will bring their funds to the marketplace.

"Although we forecast that as many as 7 million foreclosures are likely to occur over the next several years, we believe the pace at which these homes will come to the market will be consistent with current levels. As such, the concerns around the negative impacts of rising inventory levels are overdone."
I hope that foreclosures will be allowed to come to the market faster than they are currently. They're coming at a level that is maintaining the price however they are strangling the marketplace. There are so many jobs & industries associated with real estate: building (construction & Home Depot, et al), lending (banks, mortgage bankers, loan officers, appraisers, et al), sales (real estate agents, escrow, title, et al), insurance, all of the associated industries (property management, tools suppliers, et al) and all of the employees of those industries as well as the clothing and materials they all require.

"An improvement in unemployment is the single most important predictor for the longer term health of the housing market - only by focusing on this variable can we truly understand the timing for a recovery."
So true. I wish our government would turn to restoring and improving our country's infrastructure rather than giving money and resources away. That would create a lot of jobs and actually produce tangible end products.

"Given the limited amount of high quality, finished lots coming to market, we expect the builders to increasingly consider purchasing undeveloped parcels, which represent a greater value.
Don't see this at least for a couple of years. We have millions of foreclosed on properties which need to be recycled before building new ones are feasible. It makes better sense for the lenders that take back raw land to improve them & offer them to builders.

"The longer term outlook for housing will increasingly dominate investors focus toward the end of 2010."

Absolutely!

What ideas do you have? They may make a difference to us and to you!

Feds Suspend Anti-Flipping Rule

2010-01-17T13:34:00.000-08:00

North County Times:

http://www.nctimes.com/business/article_d743162e-03d5-5ffd-af48-24717bd099f2.html

On Feb. 1, the Federal Housing Administration will place a one-year moratorium on its anti-flipping rule, which will allow buyers with FHA-backed loans to purchase homes that have been held for less than 90 days.

This is huge! Real estate investors will now be able to buy, fix up the properties quickly and sell them as soon as possible. It will make the properties available to FHA-qualified buyers in the lower-priced market. It also reduces the risk we investors incur in having a completely fixed up property and getting it vandalized before resale.

Record 3 million households hit with foreclosure in 2009

2010-01-17T13:01:00.000-08:00

Another foreclosure article on CNNMoney.com

http://money.cnn.com/2010/01/14/real_estate/record_foreclosure_year/index.htm

The four states with the most foreclosure filings -- California, Florida, Arizona and Illinois -- accounted for a full 50% of the nation's properties receiving notices.

Nevada recorded the highest rate of foreclosures, at 10%, followed by Arizona, at 6.1%; Florida, 5.9%; and California, 4.75%.

But some states where foreclosure hit hard early are now faring better. Indiana foreclosures fell by 9.9%, Ohio by 10.5% and Rhode Island by 23.6%.

California, by far the most heavily populated in the union, posted the most filings with 632,573, up 20.8% from 2008. Golden State cities have also recorded some of the steepest declines in home prices, with values falling 50% or more in some Central Valley cities.

Cities Predicted to Post Gains Over Next 2 Years

2010-01-17T12:47:00.000-08:00

These seven cities are expected to rise in price over the next two years according to CNNMoney.com:

San Francisco

Seattle

Pittsburgh

Rochester

Oakland

Memphis

Birmingham

Here's the link for the article:

http://money.cnn.com/galleries/2009/real_estate/0910/gallery.housing_price_forecast/index.html

Subject To question

2010-01-15T14:36:00.000-08:00

I received a question from Paul about buying a property "subject to" the existing financing.

"I was talking to the neighbor about her situation and it occurred to me that she is a classic motivated seller. I still need to gather information about her loan/title, so I'm not sure yet if the numbers make sense. I think that a "subject-to" deal is the best option for me. Can you recommend some reading material or another resource where I can educate myself on "Subject-to" deals? My intention would be to hold the property long term as a rental. How do I deal with the bank if/when they eventually find out about the sale? Thank you."

Go to the library & look for any book on real estate financing. Look in the index to see if they discuss subject to. I would recommend any book by John Schaub, especially Building Wealth One House at a Time. Most of his books include & describe "subject to". There is a workshop on Jan. 30th. I know both instructors use subject to & seller financing to buy. (www.investorsworkshops.com, then click on events)

You just make an offer subject to any existing financing without formally assuming the loan. You have the moral responsibility to make the payments but not the legal because the loan is still in the name of the original borrower. I prefer to notify the lender on what I intend to do to get their formal blessing (in writing) because I want them to also allow a sale to another buyer after me. If I don't get the blessing, I still may do the deal however there is the possibility that the lender may call the loan due. Currently, I'm not worried about getting a loan called because I lenders have too many foreclosures and loans that are not paying.

When I take over a loan, I always improve the original borrower's credit score because I make the payments.

FEAR by Magi Bird, EMS Master

2010-01-11T22:22:00.000-08:00

My very good friend, Magi Bird, wrote this. She's a very successful and experienced real estate broker and exchangor. She has trained and educated more equity marketing specialists (EMS, exchangors) than any other teacher in the country.

F.E.A.R.
by Magi Bird

In grade school I heard that fear was an acronym for "False Evidence Appearing Real". I also learned that Franklin Delano Roosevelt said "We have nothing to fear except fear itself." With the headlines screaming about inflation, foreclosures, gas prices, mortgage relief', bank failures, brokerage failures, bankruptcy, slowing sales, the declining dollar, falling home values and increasing unemployment, it seems a reasonable response to be afraid. When financially threatened it also seems appropriate to spend less, downsize, pay off bills, stay at home, cancel luxuries and vacations, stock up on food, turn off the air conditioner, hoard cash and do without. The result of this prudence: a contracting economy, job layoffs, business failures, bankruptcy, inflation, foreclosures, bank closings and more headlines.

STOP!

What has really happened? Five years of unprecedented low 30 year financing started everybody "investing" in real estate to make a quick buck. Money could be borrowed at 2% above the governments' published (but untrue) rate of inflation. House flipping became a National pastime and "I Buy Houses" became a bumper sticker. The entry of so many new "investors" to the real estate market created competition for the inventory and the law of Supply and Demand kicked in driving prices through the roof, detaching the economic value of the property from its price tag. The higher pricing created negative cash flows which consumed the discretionary earnings of the real estate "investor", who then had to sell under financial duress which dropped pricing. People stopped standing in line to reserve "to be built houses" they could flip at a profit without ever closing escrow. Builders with inventory in various stages of completion slashed prices to attract buyers, destroying the value of the homes families had just purchased. People who needed to resale were competing against builders and had to reduce pricing as well, resulting in negative equity holdings, walk always, short sales, foreclosures, bad loans, troubled banks and failures.

SO:

Is real estate a bad investment? Absolutely not! We are standing at the threshold of the greatest reshuffling of wealth that most of us will see in our lifetimes. When this cycle ends, which it will, the ones with the best real estate investment portfolios will be the big winners. Speculators, not investors, created the run up of pricing and investors will be the stabilizing element in the marketplace. If you do not know the difference between the two, do not buy any real estate until you do. In the world of investing, cash is King and cash flow is Queen Consort. Real estate must be purchased at terms that create a return on the capital you invested at regular intervals. That return may not exist at the time the real estate is purchased. The building may be vacant, in need of repairs, rezoning, restoration, completion or upgrading prior to it being rented. The income may be low or nonexistent due to the poor management practices of the previous owner. If this is the case you must be brutally honest in your self assessment. Do you have the skills, talent, time, tools, patience and experience to affect the required changes? Will you be a more capable manager than the previous owner? If not, do you have the additional capital and reserves to hire those services done for you and carry the property until completion and rent up? If there is any doubt in your mind, find a project or property that is up and running without deferred income or maintenance issues and pay a little more for it.

NOTICE:

I said that property must be purchased at TERMS that permit cash flow. The price is almost irrelevant because it never exists until I end the investment by selling. As long as the property produces cash flow, the principle of the loan is being reduced and the local population is growing, profit is inevitable. This is the jewel at the heart of real estate that you will find nowhere else. Even a hobo under a bridge needs a piece of turf to occupy for a period of time. Unlike vinyl records, land cannot be replaced by new technology. Shelter is needed by everyone, everywhere, at all times and the earth makes new turf very slowly. Real estate renovation, cash flow analysis and property management are not sexy or easy. They take study, effort, patience and practice. If someone tells you that it is easy, any fool can do it and it will make you rich overnight, beware. Real estate will, in fact, make you very rich, slowly.

NOW:

Is the time to buy real estate because sellers are competing for your money. You have opportunities to negotiate terms that will permit cash flow, in some cases without much down payment. In many cases sellers will carry a portion of the purchase price, scale payments to cash flow, share the risk, improve the property, guarantee the rents, include other assets, pay down interest rates or lease with option to buy. Avoid sexy properties. The market is pushed from the bottom, not pulled from the top. If you have to live in a million dollar house, buy it now for half that amount and bank payments for a year. Remember that your home is not an investment, it is overhead and every dollar put into it kills an investment dollar and all the earnings you could make on it. Do not be affected by a sales pitch and remember that headlines are the highest form of salesmanship. Disaster sells on the front page, don't be a buyer. Sound real estate investment principles have not changed but the penalty for ignoring them has come home to roost. Sharpen your pencil and take solid investment advice from people who have what you want. Today is your once-in-a-lifetime opportunity: never be stopped by F.E.A.R!

Winston Churchill said, "We will never, never, never give up!" Don’t you!

Magi Bird
EMSMaster, CEO,
magi@realtyequitymarketor.com

Free giveaways from SDCIA January speaker

2010-01-09T17:44:00.000-08:00

Our speaker this Tuesday January 12th is Stephen Wilklow of the Maui Mastermind group. He has generously provided giveaways to our group again this year!

These are excellent materials developed by my friend David Finkel. My favorites so far are the ones on Time Mastery and forming a mastermind group.

Cut & paste the links into your internet browser to get them:

Business Owners Success Kit

You'll get:

One Hour Video Training: How to Overcome the Greatest Challenge Every Entrepreneur Faces
Special Report: How to Form and Run Your Own Mastermind Group
50-Minute Video Training: The Fundamentals of Time Mastery: How to Grow Your Business Without Working Longer Hours or Weekends
Special Report: 35 Hidden Business Assets You Can Leverage to Grow Your Company
30-Minute Audio: Wealth Secrets from Maui Mastermind

http://www.mauimastermind.com/page/custom/predoibbsk

Free Biz Owner Ebook

You'll learn:

The 3 levels of building a business
67 tactics to leverage your business assets and triple your cash flow
The 10 biggest business blunders
A 7-step game plan to better manage your business and financial assets.

http://www.mauimastermind.com/page/custom/MMBB

The Maui Mastermind group have been very generous to our SDCIA members now and in the past. If you've received a Maui Millionaires book, please thank Stephen on Tuesday and David next month at their event at the Marriott Mission Valley on February 19-21.

Whatever you do, whether it's working for yourself or someone else, you're in business for yourself. And you need to learn how to successfully run you own business.

See you Tuesday.

Home prices to drop another 10-12%, Deutche Bank

2009-12-21T15:27:00.000-08:00

Deutche Bank researchers say home prices will drop another 10 to 12 percent from current levels. The securitization arm of the investment bank represent that these projections are the first forecast expanded to include more factors that impact home prices overall as well as including peak-to-trough and peak-to-peak, according to www.housingwire.com.

"Government bailouts lack the potency to counter larger issues of unemployment, tight credit and the rising negative…In the worst of it, with another projected 29% percent decline in home prices (is) projected," DB estimates."

The government is trying to spend (& tax) their way out of this. Good luck.

Surfing Huge Waves in Hawaii

2009-12-07T23:04:00.000-08:00

My family told me that Jaws on Maui was really pumping today.

You will be absolutely awestruck by this amazing clip of a a kamikaze surfer on a 65-foot wave at Jaws in 2002. Wow!

http://www.youtube.com/watch?v=OB5c39PZFQ4

Jim Rohn - The Passing of a Legend

2009-12-07T11:30:00.000-08:00

I've lost another of my mentors, Jim Rohn. Mr. Rohn was considered America's Foremost Business Philosopher and was one of the best motivational speakers I've ever heard. I will always thank Bruce Norris for adding Jim Rohn to his first Multi-Millionaire Maker seminar back in 2005. It gave me the opportunity to personally meet and thank Mr. Rohn for all I learned from his books, tapes/cds & videos. The lessons Mr. Rohn teach are not about real estate but of life and business.

I own most of Mr. Rohn's materials and the best lesson I learned was to keep a journal: a life journal and a deal journal. I hope you learn from me that this is, in my opinion, the most powerful lesson to learn.

http://tribute.jimrohn.com/

IRS to outline changes in the home buyer tax credit program

2009-12-07T10:52:00.000-08:00

IRS to outline changes in the home buyer tax credit program

Revisions include expanded income limits, a cap on home prices, additional documentation requirements and prohibitions against claims by dependents.
By Kenneth R. Harney

December 6, 2009

Reporting from Washington - If you're thinking about applying for the new $6,500 home buyer federal tax credit or the extended $8,000 version, the Internal Revenue Service has just issued its first formal guidelines for you.

Tops on the agency's list of advice: Cool it for a couple of weeks. Even if you qualify for one of the credits, don't send in any requests to the IRS quite yet. Wait until later this month when the agency publishes its revised Form 5405 with the key instructions needed to get you a check from the government.

The forthcoming version of the form will incorporate the major changes to the tax credit program made by Congress in legislation signed by President Obama on Nov. 6. These include expanded income limits, a cap on home prices, additional documentation requirements and prohibitions against claims by dependents.

In a tax bulletin issued just before Thanksgiving, the IRS emphasized that all home purchasers after Nov. 6 "must use this new version [of Form 5405] to claim the credit." Put another way: If you send in the old version -- the one you can currently download from the agency's website, www.irs.gov -- your request for the credit will probably go nowhere.

The legislation -- known as the Worker, Homeownership and Business Assistance Act of 2009 -- extended the $8,000 first-time home purchaser credit until April 30 for signed contracts and June 30 for closings. The law also created a new tax credit for people who have owned a principal residence for a consecutive five of the previous eight years, and who purchase a replacement principal residence with a signed contract no later than April 30, followed by a closing no later than June 30.

Qualified repeat buyers can obtain credits up to $6,500. For both the first-time and repeat buyer program, the credit is equal to 10% of the purchase price of the house, up to a maximum of either $6,500 or $8,000.

The new IRS bulletin also outlined the agency's guidance on other important features of the amended credit program:

* Members of the armed forces, as well as diplomatic and intelligence personnel serving in foreign countries, will get an extra year to buy a principal residence and still qualify for a credit. They will have until April 30, 2011, to enter into a contract to purchase a house, and until June 30, 2011, to close on it.

* Anyone who buys a house after Nov. 6 -- even those who had intended to get in the door before the previous Nov. 30 expiration date for the $8,000 credit -- will now need to comply with several new rules. First, the house cannot cost more than $800,000. Second, no one under age 18 can claim the credit no matter what the circumstances. And finally, anyone who is counted as a dependent on another taxpayer's federal filings is ineligible for a home purchase tax credit.

* The expanded income limits for purchasers after Nov. 6 range to $125,000 in "modified adjusted gross income" for single taxpayers and to $225,000 for those who file jointly. Singles with incomes between $125,000 and $145,000 may be eligible for reduced credit amounts, as are joint filers with incomes from $225,000 to $245,000. Anyone with an income above these amounts cannot qualify for either of the credits. Under the pre-Nov. 6 rules, taxpayers applying for the $8,000 credit were limited to incomes of $75,000 (single filer) to $150,000 (joint filer).

The IRS continues to offer detailed consumer information resources on the credits, including questions and answers on a variety of home purchase scenarios.

For example, some taxpayers seeking the extended $8,000 credit are uncertain about co-purchase and co-signing situations, especially involving parents and adult children. When a home-owning parent co-signs for a mortgage with a son or daughter, and both names appear on the note, can the son or daughter qualify for the first-time purchaser credit?

The IRS says the parent clearly does not qualify for any portion of the credit since he or she already owns a principal residence. But if the son or daughter has not owned a house during the three years preceding the current purchase, and qualifies on income, he or she can be allocated the entire $8,000 credit.

Similarly, when unmarried individuals co-purchase a house, and only one of them is eligible for the credit, the full $8,000 can be allocated to the eligible buyer.

kenharney@earthlink.net

Distributed by the Washington Post Writers Group.

Copyright © 2009, The Los Angeles Times

Chief Denney foreclosure class Saturday Dec 5th

2009-12-04T16:37:00.000-08:00

My friend, Chief Denney, is teaching a class on investing in foreclosures tomorrow December 5th in San Diego. He is a very good teacher.

"How To Capitalize On Today's Foreclosure Market"

http://www.statewidefinancialservices.net/newseventsreports.html

Added benefit of attending Reggie Lal's workshop

2009-12-02T15:49:00.000-08:00

Tony Alvarez enjoys an added benefit of attending Reggie's Lal's workshop November 21st.

Tony Alvarez analyzes WSJ article on new Fannie Mae foreclosure program

2009-12-01T14:51:00.000-08:00

Fannie Mae Looks to Level Foreclosed-Home Playing Field

(See Tony's comment's in red below the article)

By JAMES R. HAGERTY

Fannie Mae announced a program aimed at helping ordinary home buyers compete with investors for foreclosed homes.

Under the program, dubbed First Look, Fannie plans to consider offers only from potential owner-occupants and certain public-housing entities during the first 15 days in which a foreclosed home is on the market. Fannie and its main rival, Freddie Mac, are government-controlled companies that buy or guarantee home mortgages. They are among the biggest owners of foreclosed homes. As of Sept. 30, Fannie said it had 72,275 single-family foreclosed homes on its books. Freddie had 41,133 as of that date.

Many investors can move faster on home purchases because they are able to pay cash and don't have to wait to qualify for a loan and get an appraisal. Investors often turn the homes into rental units or flip them to other buyers for a quick profit. People seeking to take advantage of the drop in housing prices to buy their first homes have been grousing that they often lose bidding wars to investors.

Fannie said it also would help owner-occupants acquire homes by reducing deposit requirements to as little as $500 and giving them a chance to renegotiate offers after appraisals. Such buyers also are to be allowed as many as 45 days to complete the transaction, up from the usual 30 days.for purchase of homes from Fannie.

A Freddie spokesman said that company has similar pilot programs and is helping owner-occupants pay closing costs.

Fannie's supply of foreclosed homes is likely to keep growing. It also announced Tuesday that 4.72% of the single-family home loans it owns or guarantees were 90 days or more overdue in September, up from 4.45% in August and 1.72% in September 2008.

Write to James R. Hagerty at bob.hagerty@wsj.com

Tony's Comment's:

Lies, lies, lies! It's all good news!

Don't let your brain become the enemy. At first glance you might think that they're picking on investors again. But nothing is further from the truth. If you remember that all decisions that the government make are politically motivated you will understand the goal they are trying to reach more clearly and if you can do this you'll be better equipped to position yourself to take advantage of what they really mean by their actions. The 15 day "First Look" Program has actually been in test mode since August 2009. And what has this accomplished? New buyers competing with each other like mad dogs to pay higher prices for inferior inventory, of which, most sales have fallen apart within 15 days of an opened Escrow.

The best part about these new idiotic decisions is further proof that as the government and banking get more desperate, financing is getting easier.

Investors might look at these new changes and think 'uh oh' they're picking on us again. But that's the big lie. Don't stop and hesitate what you are doing for one second. If you do then you drop the ball. This is not the moment to run scared and throw our hands in the air thinking that our potential for doing business in this market has been taken away. It has not.

Here's what I want you to pay attention to most - the Federal Government and Lending Industry will always remove restrictions on financing for the first time or typical home buyer before they do anything for investors. Because that is what is politically correct in this present political climate. Bernanke is a puppet just like all Fed Chairmen have been since the inception of the Fed on Jackal Island. Our president, though highly educated, knows less about the financial market than my ten year old grandson. And that's why he has begun to shut his mouth with respect to financial matters. If you think that any of the decisions coming out of Washington, D.C. have any other agenda besides a political one, you are highly mistaken. As I have been telling you time and time again, the closer we get to any political election the more generous the government (and government agencies, such as Fannie Mae and Freddie Mac and the rest of lending industry) will become with respect to their lending policies across the board. Whatever perks you see awarded to home buyers will soon be followed by similar perks for investors. They have no other choice. The reason for this is GREED, it is in their best interest to do so.

Whoop-tee-doo. They got us on the ropes now. What are we to do? Stay focused on your target market, keep watching all your market stats and stay friendly with all the REO brokers and other crucial business people in your target market. Patience is the name of the game.

Tony Alvarez

Keep checking in with www.THEREOMENTOR.com for updates.

Sincerely,

The REO Mentor
Tony Alvarez

Tony Alvarez interviews REO broker

2009-12-01T13:16:00.000-08:00

My bud, Tony Alvarez, interviews one of his REO brokers about current & upcoming changes in TODAY'S REO market.

Here are the link to the interviews:

http://www.youtube.com/watch?v=DO76uDeJjtA

FHA Market Share Tops 36%, New Record

2009-11-24T11:03:00.000-08:00

In news that should come as no surprise to anyone, the Mortgage Bankers Association is reporting that in June government-insured loans - meaning FHA and VA financing, but mostly FHA loans - represented 36 percent of all loan applications, the largest market penetration since 1990.

In comparison, the lowest recorded market share was 5.8 percent in August 2005.

"A primary reason government-insured loans have retained a high share of the purchase market is that these loans typically require lower down payments than conventional loans," said Orawin Velz, MBA's Associate Vice President of Economic Forecasting. "In addition, lending standards tend to be tighter for conventional loans, especially for loans that require private mortgage insurance."

Sounds to me like a recipe for a additional foreclosures in a couple of years.

Number of Troubled Banks Rises to 552; FDIC Fund Sinks Into the Red

2009-11-24T10:57:00.000-08:00

Rich Hake called the FDIC the "new RTC" at Reggie's workshop last weekend; here's proof.

WSJ:
The government insurance fund that protects more than $4.5 trillion of U.S. bank deposits slipped into the red at the end of September, after fifty banks collapsed during the third quarter.

The deposit insurance fund dropped by $18.6 billion during the third quarter of 2009 to negative $8.2 billion, as the Federal Deposit Insurance Corp. set aside $21.7 billion in provisions for additional bank failures. This is the second time in the agency's history that the balance has fallen into negative territory.

The FDIC has already called on the industry to prepay $45 billion in assessments at the end of the year that will be set aside to cover the cost of bank failures in 2010.

Fifty U.S. banks failed in the third quarter, the largest quarterly total since 55 banks went bust during the second quarter of 1990. The FDIC's list of "problem" banks swelled to 552 at the end of September, its highest level in 16 years and up from 416 in June.

Read the rest of the article at:
http://online.wsj.com/article/SB125907631604662501.html?mod=WSJ_hpp_MIDDLTopStories

Note Buyers & Investors Convention November 10-12 in San Diego

2009-11-04T10:41:00.000-08:00

The NoteWorthy convention for note brokers and investors will be held in San Diego November 10-12.

This is an opportunity to learn about the note business at the industry convention. There will be workshops to learn from and an opportunity to meet the "MONEY"!

If you're interested in attending I have a very special rate of only $99 for locals that want to attend (others pay $388)! Go to http://www.noteworthyconvention.com and put "tan2009" into the "Enter Discount Code" part of the Ticket Information section after you have put how many will attend. See you there!

Government Insured Share of mortgage applications Tops 36%, New Record

2009-10-29T07:54:00.000-07:00

MBA Reports Government Insured Share of mortgage applications Highest since 1990, Now at 36 percent

Washington, D.C.
July 09, 2009

The government-insured (FHA and VA loans) share of mortgage applications was 35.9 percent in June 2009, the highest level since November 1990, according to the Mortgage Bankers Association.

Based on data from MBA's Weekly Mortgage Applications Survey, the government-insured share jumped from 25.7 percent a month earlier and 27.0 percent in June 2008. Since the MBA survey's inception in January 1990, the lowest recorded share was 5.8 percent in August 2005.

The government-insured share of purchase applications in June was 38.6 percent, up from 27.8 percent one year ago. The government-insured share of purchase applications has averaged 36.6 percent to date in 2009, compared to an average of 21.8 percent during the same period in 2008. The low point was in August 2005 when it was 6.8 percent.

"A primary reason government-insured loans have retained a high share of the purchase market is that these loans typically require lower down payments than conventional loans," said Orawin Velz, MBA's Associate Vice President of Economic Forecasting. "In addition, lending standards tend to be tighter for conventional loans, especially for loans that require private mortgage insurance."

"While the government-insured share of purchase applications has remained elevated, the government-insured share of refinance applications has been volatile. The share hit a record high of 38.4 percent in October 2008. As mortgage rates fell sharply between mid-November through early May, refinance activity surged for conventional loans. This surge in conventional refinance applications dominated the market, causing the share of FHA refinance applications to fall below 20 percent for most of this year. Recent increases in mortgage rates have caused conventional refinance activity to drop much more sharply than government-insured refinance activity due to a combination of credit and LTV requirements. As a result, the government-insured share of refinance applications climbed to 33.6 percent in June," Velz said.

So now government insured mortgages are the sub-prime mortgage lending... That means a greater number of future defaults/foreclosures will be from FHA mortgages. Our opportunities are to take over these properties "subject to" the existing 30 year financing.

Reggie Lal speaking Wednesday October 21st

2009-10-21T12:38:00.000-07:00

Wealth Building Strategies in the Current CA Market

If you missed Reggie Lal speaking at the SDCIA in August; you really should take the opportunity to catch him at the InvestClub for Women meeting this Wednesday evening. Here's the link for more information:

http://womensinvestclub.com/ReggieLal.aspx

Topics Reggie's Going To Cover:

Successful Deal Structuring
Creating Cashflow in this Market
Where To Invest
How to Pre-Screen and Evaluate Deals
Creative Methods of Financing Properties
CA Market Update
Raising Private Money - How to Fund your Deals
Common Mistakes Investors Are Making and How to Avoid

Reggie is a straight-talking guy who will tell you exactly what he does, how he does it & how you can to. He bought fifty-one (51) houses last year, one at a time.

Reggie's someone you can really learn from because he's not trying to get into your wallet or purse.

He will share that he's putting on a one-day class November 21st locally titled:

"Finding Money in Today’s Market & IRA Investing
(The Best Kept Secret in America Today !)

Build your own war chest of funds and take advantage of the greatest buying opportunity of our time !

http://www.bethesmartinvestor.com/Public/Events/index.cfm?semID=180&view=1&requestTimeOut=100

BTW, he will have a very handsome colleague teaching a section on creative financing...

Jack Miller

2009-10-11T23:44:00.001-07:00

I'm sorry to report sad news. Jack Miller, one of my mentors, passed at 8:33 am on Friday, October 9. Jack was diagnosed with cancer in June and fought valiantly to beat it. We all believed he would overcome it but he lost the fight. He will be missed by all.

Here is a final message from Jack:

To my Friends, Students and Subscribers,

"I have concluded that the treatment for my illness will not be successful. However, I am thankful that I have had the friendship and support of many of you. It has been rewarding for me to see you grow and prosper and I hope I was of some help in that process. It is my hope that you will continue your efforts in the most ethical, enjoyable and profitable manner. Best of luck to you all."

Per Jack's wishes, there will be no funeral.

Many people want to express their sympathy and respect directly to the Miller Family, but they just need time and space for now. Please do not call at this time or send flowers. You may send your condolences to the email above at GoodbyeJackBaby@gmail.com .

The Miller family would like to thank you for all the years of support and friendship.

I remind everyone that my favorite mentors: John Schaub, Peter Fortunato & Jimmy Napier have cut back on their teaching schedules. No one knows how much longer they will continue to teach and you should do yourself a favor to take their classes. John Schaub just taught a class last weekend. It's the first one I've missed in years and only because of illness. You'll be real estate sick if you don't take at least one of the classes from the masters!

FDIC says bank failures to cost around $100B

2009-09-29T12:59:00.000-07:00

FDIC seeks a $45-billion advance from banks to rebuild reserves.

http://www.latimes.com/business/la-fi-fdic30-2009sep30,0,3324879.story

"A billion here, a billion there, pretty soon you're talking about real money."
_ Everett Dirksen (1896-1969), Illinois Republican Senator

Subprime Uncle Sam - FHA makes Countrywide Financial look prudent

2009-09-29T12:31:00.000-07:00

Great editorial from the Wall Street Journal today on the FHA risk.

http://online.wsj.com/article/SB10001424052970204488304574428970233151130.html

This makes sense since the FHA is now the new "no money down" lender.

16 Loan Modification Attorneys Under Investigation by State Bar Assn.

2009-09-29T12:21:00.000-07:00

The State Bar of California, alarmed by the number of lawyers preying on vulnerable homeowners, today identified 16 attorneys who are under investigation for misconduct related to loan modification.

In my 21 years in attorney discipline, I have not seen a crisis of this magnitude. It is truly unprecedented,” said Interim Chief Trial Counsel Russell Weiner, who is waiving investigation confidentiality in favor of public protection...

http://calbar.ca.gov/state/calbar/calbar_generic.jsp?cid=10144&n=96395

Uncle Sam Bets the House on Mortgages

2009-09-24T22:18:00.000-07:00

More than half of U.S. residential mortgages are being made by just three large banks: Wells Fargo, Bank of America and J.P. Morgan Chase.

I believe this is bad. We need more lenders to compete for our business. Lenders that are innovative & customer friendly!

New FHA rules for refis & appraisals

2009-09-24T21:55:00.000-07:00

The FHA also will impose a maximum loan value of 125 percent of the current estimated home value on refinanced loans, in line with Fannie Mae and Freddie Mac.

Why did they ever loan more than a house was worth in the first place?

Appraisals will be valid for no more than four months, a decrease from the previous six to 12 months validation period. The FHA also plans to implement appraisal changes adopted earlier this year by Fannie and Freddie. Mortgage brokers or bank employees paid on commission won’t be allowed to order appraisers.

Appraisals should never be valid for more than a couple of months (exceptions are in areas that didn't rise in value for 50 years... GO zone???) unless it's for income properties which are valued differently than residential. And they should listen to Papa Joe's thoughts (those who attended "I Survived RE 2009 know who I'm talking about or you can view the video at: http://www.thenorrisgroup.com/blog/video-blog/i-survived-real-estate-2009/) on appraisals & appraisers. The only disagreement I had with Papa Joe is that we should "Kill Bill 1728"; he's only looking at the part that affected appraisals and not the financing ramifications.

Be sure to contact your state Senators & tell them to "Kill Bill 1728". It's probably going to be tabled this year but look for them to try & sneak it through.
My two cents worth in blue.

Ten Big Companies Headed Toward Bankruptcy

2009-09-22T22:52:00.000-07:00

I found this interesting.

http://finance.yahoo.com/tech-ticker/article/336235/Ten-Big-Companies-That-Are-Veering-Toward-Bankruptcy?tickers=AMD,LVS,S,M,GT,MYL,HTZ

Have a great day!

B of A or the government is BAD in math

2009-09-22T14:02:00.000-07:00

Here's an article in the Monday September 21, 2009, San Diego Union-Tribune:
http://www3.signonsandiego.com/stories/2009/sep/21/us-bank-america-government-092109/?business&zIndex=169774

I was most interested in the last paragraphs of the article.

"Bank of America has received a total of $45 billion from the Treasury's $700 billion financial bailout pot, which is financed by taxpayers.

The company says it wants to repay $20 billion of that money, which would remove the company from a list of firms that have received "exceptional" assistance from the government.

Such companies are subject to greater government scrutiny, including having to provide plans outlining compensation packages for their highest-paid employees. The Obama administration's pay czar, Kenneth Feinberg, has the power to veto them."

So B of A RECEIVES $45B in taxpayers money then after a while gives back $20B to get out from having to provide how B of A will compensate its highest-paid employees. That's $25 BILLION less than they received & now they don't have to justify compensating the employees that put them in a position to need taxpayer assistance? That's not right! They get to keep more than half (56%) of the bailout funds and not disclose how they are paying their executives.

Isn't this one of the reasons the bailout was necessary? Didn't the officers of financial institutions pay themselves (& the officers of the companies they acquired) large salaries & bonuses? They don't seem grateful for the bailout. It appears as if they're trying to get back to business as usual & screw the taxpayers. Or do they believe we won't notice or care?

Bruce Norris is the Master Prognosticator!

2009-09-21T20:42:00.000-07:00

Bruce Norris told us (check out Bruce's presentation at the May 2009 SDCIA presentation: http://www.sdcia.com/previous-meeting-topics/31-six-proven-steps-to-become-a-real-estate-multi-millionaire.html) that homeowners would begin to "strategically default" on their mortgages soon.

Homeowners who 'strategically default' on loans a growing problem -- latimes.com

Source: www.latimes.com

Reporting from Washington - Who is more likely to walk away from a house and a mortgage -- a person with super-prime credit scores or someone with lower scores?Research using a massive sample of 24 million ...

Secrets of a Professional Negotiator

2009-09-10T11:02:00.000-07:00

I found this article on Yahoo & wanted to share it with you. Negotiating is the highest paid skill you can acquire. Yes, I said acquire. As in learn. So make the effort to educate yourself on the negotiating skills you need & then practice them. The best places I know to practice (except EVERYWHERE) are at garage sales and swap meets. And remember to make it fun!

Secrets of a Professional Negotiator

A Day in the Life of a Dealmaker

By Philip Reed, Senior Consumer Advice Editor

The energy is electric in the offices of Authority Auto in Sherman Oaks, California. That's because Authority's president, Oren Weintraub, is doing what he loves: negotiating car deals and saving money for his clients.

"I love the art of negotiating," Weintraub said. "It's kind of like a dance — you have to know what to say and when to say it. You have to be strategic. And above all else you have to know how to create leverage."

The flip side? "When I'm making a deal and I don't get what I want, it drives me crazy," said Weintraub, a former general sales manager at a top Ford dealer in the Los Angeles area. He started his concierge car- buying service after discovering that he would rather work for car buyers than be a dealer trying to maximize their profits. Now, Weintraub gets his fee from his clients, which he says is offset for the client by the low prices at which he can buy cars. He believes that the car broker's practice of getting a commission from the dealer is a conflict of interest.

To see the rest of the article (it's worth it!) click on this link:
http://autos.yahoo.com/articles/autos_content_landing_pages/1056/secrets-of-a-professional-negotiator/

Copyright © 2009 Yahoo! Inc. All Rights Reserved.

How to open clamshell packaging

2009-08-30T23:25:00.000-07:00

I ran across this after buying some products with the !#*%@$#$ hard plastic clamshell packaging. Oh, to have learned this earlier! It's a yahoo article with a YouTube video.

http://green.yahoo.com/blog/the_conscious_consumer/88/how-to-open-clamshell-packaging.html

Current status of HR 1728

2009-08-30T15:00:00.000-07:00

HR 1728 has been referred to the Senate Banking committee headed by Chris Dodd. Senator Dodd has indicated on a couple of occasions that this bill is not high on his priority list. He's not against it, but rather there are other, more important legislation ahead of it. There is a good chance that this bill will die in this legislative session. But be prepared for it to resurface later.

Congressman Mike Rogers' opening statement on Health Care reform

2009-08-27T15:16:00.000-07:00

I really like Congressman Mike Rogers' opening statement on Health Care reform. What a description of the controversial health care plan now being debated in Congress...

http://www.youtube.com/watch?v=G44NCvNDLfc&feature=player_embedded

Recently, Helen Withers swapped stories with Michael Tracy (Brian Tracy's son) about the socialized medicine practiced in Great Britain and Canada. The Tracys sent Michael's grandmother to the U.S. for treatment because she was put on a six month waiting list! Helen's friend went back to England to get treatment for free and ended up dying BEFORE she was ever treated! Ouch!

What we have currently is the best health care possible in the world. It's not perfect however it's much better than anything the government would attempt to manage. And will those members of Congress that are championing health care reform have to use this socialized health plan themselves? No.

We have a congress in order, among others, to promote the general welfare. How come we keep electing representatives that vote unlimited benefits to themselves (especially life-long pensions & health care) while screwing everyone else in the nation a little bit (taxation) at a time? This is eerily like giving up your freedoms a little bit at a time until they're all gone. I am reminded of how to eat an elephant (when dealing with challenges)... one bite at a time. And we're the elephant.

8 Things Experts Do

2009-08-27T11:27:00.000-07:00

8 Things Experts Do

1. Choose Mastery
2. Study their subject and interview other experts, intensely looking for patterns and best-practices
3. Create arguments on what to pay attention to, what things mean, how things work and how things might turn out
4. Simplify complex ideas by building frameworks
5. Write, speak, record and package their knowledge
6. Campaign (not promote) their expertise
7. Charge expert fees
8. Focus on distinction, excellence and service

__ from the “Millionaire Training Intensive for Experts, Authors, Speakers and Coaches” by Brendon Burchard

If you wnat to listen to the entire webinar go to: http://www.expertsacademy.com/webinar

I got a lot out of it.

The 10 most stable markets in the USA

2009-08-25T21:21:00.000-07:00

Here are the 10 most stable markets in the country (according to a PMI company):

Cleveland
Pittsburgh
Columbus, Ohio
San Antonio
Houston
Fort Worth
St Louis
Charlotte
Nashville

Stable means not going up or down much. I prefer our volatile California market.

Bill Tan's Blog

Federal Trade Commission Goes After Real Estate Gurus

Southland Home Sales, Median Price Post Steeper Declines From 2010

Southland Home Sales, Median Price Post Steeper Declines From 2010

June 13, 2011

if you’re ever distressed

28% of San Diego home sales in Jan. were cash

DataQuick: Slow winter season, lower-than-ever prices were likely factors

Other DataQuick highlights, California

Housing data may have understated extent of collapse

28% of San Diego home sales in Jan. were cash

28% of San Diego home sales in Jan. were cash

DataQuick: Slow winter season, lower-than-ever prices were likely factors

Homes sold to cash buyers

Other DataQuick highlights, California

I Survived Real Estate 2010 videos

Funny Commentary of Quantitative Easing (that is printing money) from Jon Stewart:

Jon Stewart's Big Bank Theory

A Different Christmas Poem

Pending sales drop in San Diego

Why did Bernie Madoff go to prison?

Congressional Contests

In the absence of clearly-defined goals

Largest Tax Hike In American History

Encouraging saving and investment provides a capital infusion for the banks (as opposed to GIVING them money) for them to lend to the investors and the home buyers that stimulate the economy.

Second Wave: Obamacare There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011.

Isn't education one of the major concerns of our country? And here we are penalizing Teachers & students! Here is an area that stimulus is definitely needed and shouldn't be withdrawn!

FEDERAL Real estate sales tax

Businesses Put Up for Sale Smack Into Harsh Reality

San Diego ranks 10th in real estate market to watch in 2011

This I Believe (what Ronald Reagan said)

Bank of America halts all foreclosure sales

JPMorgan halts 50K foreclosures for possible flaws

Collapse in Southern California home sales a sign that prices will fall in 2011?

I'm back & headed to Gary Johnston's class this weekend

Cracked Pots

Show your ID!

Need a Mortgage? Don’t Get Pregnant!

Need a Mortgage? Don’t Get Pregnant!

REO Investors Sue for Losses in Alleged Scam

CHP are busy giving out lots of tickets

Crabby Old Man

Glenn Beck on Agencies Created by the Health Care Bill

Steve Wynn Takes on Washinton on MSNBC

SD Homeowner's Dealing with a Bank & Default/Foreclosure

Senate Passes Financial Reform Bill

The Number of Bank Failures Grows 64 So Far This Year

U.S. Role in Mortgage Market Grows Even Larger

Problem Loans Outpacing Efforts by Industry & Government

Office Copiers May Hold Personal Secrets

The Norris Group Real Estate Radio Show and Podcast welcomes Bill Tan

How foreclosure impacts your credit score

Earthquake Driving, Disaster Safety & Creating Your Own Car Disaster Kit

The Top 10 Privacy Myths

Sharpen Your Ax!

Your Voice Counts by Tony Alvarez

Bruce Norris on Fox Business Live!

The future of supermarkets?

This article was in BusinessWeek magazine March 11, 2010.

A Food Fight for Hugo Chavez

With his popularity sagging, Venezuela's fiery President is seizing supermarkets from owners. But can he keep stores stocked?

This is what happens in socialist societies like Venezuela. Ask anyone that lived in Eastern Europe before the fall of the Soviet Union. Shortages were the norm. There is an elitist group that has enough of everything & the rest struggle with shortages.

Governor Signs Home Buyer Tax Credit Legislation Into LawGovernor Signs Home Buyer Tax Credit Legislation Into Law

Molly the Owl

U.S. Treasury and Labor Departments looking to convert IRAs & pensions to Govt. annuities

Kill Health Care Bill, contact your representative IMMEDIATELY

Master Ukulele Bill Tan

Important consumer info: tips on how to stop a car that suddenly accelerates

Peter Fortunato's b-day

Bill Tan explains a wraparound mortgage/AITD

Maui Mastermind/David Finkel - Build a Level 3 Business workshop reviews

Fortune Builders/Than Merrill Marketing & Wholesale Bootcamp review

Peter Fortunato speaking to SDCIA Tuesday March 9th

Bruce Norrris webinar video "Tip of the Iceberg"

Figure Out How to Make It Work

FHA and Fannie: Pushing Foreclosure Sales w/ Tony Alvarez comment

Stroke Identification

Laughter and aging

"Move Over" Law video

Ray Stevens on Taxes

Second Wave: Obamacare

There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011.