Real Estate Auction

noreply@blogger.com (AM) — Tue, 29 Apr 2008 01:29:00 +0000

The Internet is a great place to read information on Realestate Auctions. These are the first five hits on Google. 5 years ago nobody was talking about an auction or a shortsale! How time changes....

Real Estate for Sale, Government Surplus and Foreclosures: USA.gov
USA.gov Sales and Auctions: Government Surplus & Foreclosed Real Estate for Sale -- Buy real estate that the government has seized or no longer needs.
www.usa.gov/shopping/realestate/realestate.shtml

RealtyBid - Online Real Estate Bidding - Residential, Condominiums ... · Bargains/Coupons
We are the leading US online real estate auction site and have sold thousands of residential homes and properties across the nation via our easy-to-use ...
www.realtybid.com

US Dept of the Treasury Seized Real Property Auctions · Fine Arts
This site advertises auctions of seized Real Property (real estate) for sale throughout the United States and Puerto Rico and includes homes, ...
www.treas.gov/auctions/customs

Welcome to the only real estate website listing real estate auctions in a multiple listing style format. This service by the National Auctioneers ...
www.naarealestateauctions.com

Real Estate Auction Guide
Real Estate Auction Guide is your online auction calendar to find upcoming traditional Property auction sales across North America.
www.realestateauctionguide.com

JP Morgan Chase Buys Bear Stearns For 2 dollars per share

noreply@blogger.com (AM) — Mon, 17 Mar 2008 03:36:00 +0000

I was reading an article several weeks ago from Glenn Beck regarding the credit crunch that the world economy is currently in and even though it scared the living daylights out of me, I brushed it off as scare mongering.

It now seems that the discussion he had with Nouriel Roubini (professor of economics at New York University) regarding the "12 steps to financial disaster" might not be so far fetched at all.

JP Morgan buying Bear Stearns for 2 dollars per share and valuing the once prestigious Invest Banking firm at $236 million is downright scary.

In the article which was published on cnn's website, Nouriel Roubini goes on to talk about how he believes the dominoes will fall in the economy.

DEFCONOMY FIVE, DEFCONOMY FOUR, DEFCONOMY THREE, DEFCONOMY TWO, DEFCONOMY ONE

You can read the commentary here

Glenn Beck:

"The people who survived the Great Depression were the ones who had money to buy when everybody else was selling." -- My grandfather

Will Bank of America raise it's bid for Countrywide?

noreply@blogger.com (AM) — Sat, 02 Feb 2008 00:21:00 +0000

A major hedge fund by the name of SRM Global has amassed a stake of 5.2 percent in shares of Country Wide Financial and believes the offer price is too low and is not in the best interest of shareholders.

Bank Of America last month announced that they are acquiring Countrywide for 4 billion dollars in stock which amounts to a price of under 8 dollars. SRM Global and trader Jonathan Wood feel that fair value is around book value of over 20 dollars a share.

With the fed aggressively cutting rates and expected to cut even further, some on wall street feel that the situation has improved for lenders and that countrywide financial may be able to survive the credit crunch and stay independent.

We will see what transpires in the coming weeks as this deal is expected to close in the 3rd fiscal quarter in 2008.

In other developments, Beazer Homes is exiting the mortgage business and will recommend these services to there customers in an announced marketing deal with countrywide.

Will we avoid a recession?

noreply@blogger.com (AM) — Sun, 20 Jan 2008 05:16:00 +0000

The big "recession" word is being thrown around once again. Ben Bernanke and the federal reserve are under deep pressure to lower interest rates to help the economy bounce back and avoid another recession that's hurt the consumer and taken the stock market lower by over 15%.

Wall street in my opinion won't be happy with less than a 75 basis point rate cut and there are expectations it may happen before the fed meets again in late January.

The drudge report had a headline yesterday quoting sources including Abby Joseph Cohen who is bullish currently, that we might see the market head to 6,000 or higher to 14k as Mrs. Cohen at Goldman Sachs is predicting by the end of the year.

The white house and congress are currently debating a 150 billion dollar stimulus package to get the economy back on track. The package that's in discussion currently would give tax payers a one time 800 dollar tax rebate.

Will the economy avoid recession? Should the fed just let this economy work it's self out on it's own? I am interested to hear what you may think!

Subprime mortgage mess hits Citibank

noreply@blogger.com (AM) — Thu, 17 Jan 2008 06:16:00 +0000

Is it me or does Citibank seem like a bum asking for handouts on a street corner? This is after Countrywide was purchased by Bank Of America last week for just over 4 billion dollars.

Wow what a free fall and a huge mess. The only one happy with this deal is Bank of America (eventually)(maybe) and the US government who absolutely dreaded the idea of a major lender going bankrupt and having to figure out who would service these loans after the dust settled.

Note: You still have to pay your mortgage even if your bank goes bankrupt. Sorry!

Back to Citibank, the government of Abu Dahbi gives them a cash infusion of $7.5 billion cash for convertible bonds with a 11% coupon! Seems like an act of desperation, something that scares the living crap out of me, especially with the Chinese, Kuiwati's and other foreign governments helping other banks such as Morgan Stanley and others out of this mess. Isn't this a threat to our national security?

I'm not sure, I don't work for the CIA or the White House.

Bottom Line: We are officially in a full mortgage meltdown, credit crunch, Housing mega-crash, Sub-prime crisis.

Real Estate Crash

noreply@blogger.com (AM) — Sat, 12 Jan 2008 18:51:00 +0000

The real estate market is in such a malaise. Yesterday Bank of America agreed to purchase Country wide financial for 4 billion dollars in stock. Will this be the bottom for mortgage delinquencies, the real estate crash? There are now rumors that JP Morgan Chase might look to acquire Washington Mutual. Consolidation in the mortgage industry in my opinion will be good. It must be painful for a homeowner to lose his or her home to auction or to the bank. Hoping for better days ahead in the mess that these bank's have created. Angelo Mozilla was saved, will we be? Stay Tuned!