All Entries in the "Real Estate" Category
Homebuilder Don Tomnitz – CEO of the Year
Don Tomnitz, CEO DR Horton, has to be the early leader for CEO of the year. On March 7, he made the most honest statement uttered from a CEO, in the home building industry, in recent memory. Tomnitz said, “I don’t want to be too sophisticated here, but 2007 is going to suck, all 12 [...]
No Income, No Job and No Assets – You are Approved
I remember refinancing my mortgage about four years ago. The process went much smoother than I expected. In previous refinancings, I typically met face to face with the broker, filled out a long application and provided my tax records. However, this time I simply called the broker and closed 30 days later. No meeting. No application. No tax records. I [...]
The Real Estate Market: Why “Bottom” is a Dirty Word
Last week, CNBC reporter, Mari Bartiromo was quite appalled by the language Don Tomnitz, CEO DR Horton, used in describing the state of the real estate market: “I don’t want to be too sophisticated here, but 2007 is going to suck, all 12 months of the calendar year.” I think that Maria over reacted a [...]
D.R. Horton CEO: ’2007 is going to suck’
You gotta love a CEO that tells it like it is. March 7 2007: 5:08 PM EST NEW YORK (Reuters) — D.R. Horton Inc., the largest U.S. homebuilder, expects homebuilders’ pricing power to return by January 2008, after the hard-hit industry works its way through inventory of unsold homes, the company’s chief executive said Wednesday. [...]
Time to Buy Subprime Lenders – You Gotta be Kidding!
One of the problems with Financial TV is that they have 24 hours to fill with programming. How can you fill that much time without including some “not so bright” people? Every morning I wake up around 5 am or so and turn on Bloomberg. I lay in bed and catch up on what has [...]
Subprime Lenders Starting to Explode
During the housing boom, many banks devised “creative” loans allowing people to borrow money with no down payment and pay low interest rates for the first few years on adjustable mortgages. Now, as interest rates reset higher, more borrowers are missing payments stressing the lender’s books. Remember this article from a month ago – Subprime Lenders Gone Too [...]
Housing Market Stabilizing – NOT! Part II
Housing Market. On December 5th, I issued a what’s he smoking report as Robert Toll, CEO of Homebuilding Company – Toll Brothers, stated “Fifteen months into the current slowdown, we may be seeing a floor in some markets where deposits and traffic, although erratic from week to week, seem to be dancing on the bottom or [...]
Make Money in Real Estate in 2007: 5 Insider Secrets Investors Need to Know
Below are excerpts from “Make Money in Real Estate in 2007.” Source: PR Web by Stephen Gregg Get good quality real estate investing education Having the knowledge is the key. But buyer beware: There are various types of so-called real estate investing seminars available. Know your market Are you in a market with high or [...]
Knowledge Always Precedes the Money
I was just reading an article and the author stated that his motto was “knowledge always precedes the money.” I really like that. We often hear people say, incorrectly I might add, that “knowledge is power.” I prefer ”acting on knowledge is power.” However, knowledge always precedes the money has a nice ring to it. I may [...]
Subprime Lenders Gone Too Far – A Time Bomb Waiting to Explode
Remember when a 20% down payment was expected when purchasing a house. Sometimes with stellar credit and maybe a special situation, like a first-time home buyer, you could get in with a 10% down payment. I recall a few weeks after my wife and I purchased our first home – both cars broke down. Saving for your [...]
