Spinning My Web

Source: Seeking Alpha (blog) (Original Article)

Houses are valuable because people like to live in them, or at least (as with many second homes) know that space is available for them to live in. The fundamental value-added of a house over, say a year’s time frame, therefore depends on how effectively a particular structure satisfies that demand, as compared to alternative structures that existed that year.

There are two fundamental, yet universally ignored, reasons why the purchase price of a house might vary more than the flow of value-added.

First, it is rare that a structure by itself can provide living space to the highest value occupant — other resources are also needed to accomplish this. Namely, real estate agents and mortgage bankers are usually needed to match a particular structure with a person or family who has a high valuation of its living space. Real estate agents and mortgage bankers share the value-added with the owner of the structure; in this view the purchase price of the house is the present value of the value-added minus what it costs to have real estate agents and mortgage bankers participate.

Moreover, real estate agents and mortgage bankers are much more elastically supplied in the short run than are housing structures, so an increase in the current or expected future value-added causes a less than proportionate increase in the resources spent per house on real estate agents and mortgage bankers, but (depending on the time frame over which housing structures are also elastically supplied) potentially a greater than proportionate increase in a house’s purchase price.

The second source of leverage is government subsidies to the mortgage market. Through its implicit and explicit guarantees of mortgages and the banks who own them, the government injects taxpayer funds into the mortgage market when housing prices fall, but does not receive funds from the market when housing prices rise. Mortgage banking is a competitive industry, cheap domestic flights from Sunshine Coast to Townsville so the supply of mortgage banking shifts …continue reading

Source: BusinessWeek (Original Article)

By
Charlie Rose

Harvard Law School Professor Elizabeth Warren is chair of the Congressional Oversight Panel, created in 2008 to monitor the Treasury Dept.’s bank bailout and to review the regulation of financial markets. With a compromise on financial-reform legislation looking imminent, I talked with Professor Warren on Mar. 3. Edited excerpts from that conversation follow.

Tell me what you think about the debate over a consumer protection agency. A House bill calls for an independent agency. Now you have Senators Chris Dodd and Bob Corker of the Banking Committee suggesting a compromise may put it inside the Federal Reserve.

This is less about real estate and more about genuine independence. So here’s the deal: Right now the Fed has the power actually to do a lot of this. The Office of the Comptroller of the Currency, which is the federal bank regulator, has the power to do a lot of what this agency would do. But the truth is, they’re not interested. It’s not what they do.

Someone said monetary policy was in the penthouse and consumer protection was in the basement.
It’s the stepchild nobody wants. There’s nobody in Washington focused on the economics of the family, focused on the consumer products—credit cards, mortgages, car loans, overdraft fees. All the stuff you have to do in your daily life to survive economically. This is an industry where the business model has fundamentally changed. Back in 1980 the credit-card agreement for Bank of America would have fit on one sheet of paper. Terms were clear. They figured—well, here’s your creditworthiness, and here’s what we have to charge. We’re a little worried about inflation, how much it’s going to cost us to monitor this, so we’d better make a little profit. It worked, right? Mortgages were set up pretty much the same way; car loans, too. Then we got rid of usury laws. And the credit-card folks said, you know, we could just hold up one cheap flight Cairns to Adelaide or two things in front of you: …continue reading

Source: AME Info (Original Article)

Phase I of the infrastructure, which consists of the Peninsula, Island No. 1 and Island No. 2, was awarded to Kumho Industrial from South Korea, who started working in September 2008. Phase II of the infrastructure, which comprises Islands No. 3 and 4, was awarded to the Italian contractor Rizzani De Eccher, who started mobilisation in November 2009. Their contract foresees completion of all activities within 20 months. By the same time the roads, street lighting and channel crossings for both Phases will be completed as well.

Dr. Fawzi Shadid, Project Director, Rakeen – the appointed Project Management for Al Marjan Island – stated: “We have finalised approx. 80% of infrastructure services such as Potable Water System, Storm Water System, Irrigation System, Risingmain System and Vacuum System. By the time the first developers on the island complete their projects, all the infrastructure facilities will be available for a hook-up with their developments.”

Dr. Khater Massaad, CEO, Rakia, added: “Al Marjan Island is a unique investment opportunity that offers everything an investor can wish for: An excellent location alongside kilometres of beautiful white sandy beaches and in 5 minutes driving distance to the major industries of Rakia’s Free Zone, surrounded by 5- and 7-star hotels of international standard, an 18-hole golf course and the completed Al Hamra Village with all its greeneries and amenities, including Al Hamra Mall with comprehensive retail & dining facilities and general services.

Developers on Al Marjan Island will enjoy 100% free hold ownership and construction regulations with a maximum of flexibility and service. Be it a commercial, residential or mixed-use property, a hotel, an office tower, a mall or a private villa – all feasible projects are welcome on Al Marjan Island, as long as they will blend in the community we want to bring together.

Al Marjan Island was created with cheap flight Devonport to Adelaide a vision to redefine the lifestyle in …continue reading

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“My path started in Dallas where by day I was a real estate agent and by night I was a waiter.” He, perhaps like the tech billionaire, was not happy with the direction his life was taking, “I was visibly unhappy with the direction of my …

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Source: CNNMoney.com (press release) (Original Article)

W. P. Carey
& Co. LLC (NYSE: WPC), a global investment management company that
provides long term sale leaseback and build to
suit financing for companies, announced today that CPA®:17 – Global, one
of its publicly held non-traded REIT affiliates, completed the second
tranche of a EUR 74 million ($104 million) corporate sale leaseback
transaction with Eroski Sociedad
Cooperativa. The second tranche, totaling EUR 36 million ($50
million), is for the purchase of 16 retail facilities from the Spanish
supermarket operator. The first tranche, totaling EUR 38 million ($54
million) and comprising 13 sites, closed in December of last year. The
properties are leased to Eroski under a long term lease. Financing for the
investment was provided by Eurohypo AG.

Established in 1969, Eroski is the third largest food and consumables
retailer in Spain. Eroski operates more than 100 hypermarkets and 1200
supermarkets, franchises over 500 Aliprox fast-food outlets, and manages
gas stations, drugstores and travel agencies.

Eroski is the latest European retailer, following transactions with Tesco, OBI and
Hellweg, to partner with W. P. Carey
in order to release capital from their real estate.

Eroski was represented by real estate consultant Cushman & Wakefield Spain for both tranches.

Jeffrey Lefleur, Executive Director of W. P. Carey, said:

“The closing of this financing further demonstrates W. P. Carey’s ability
to provide sale-leaseback financing in Spain and highlights our goal of
providing defensive, risk management-driven investments for our investors
in a breadth of different companies throughout Europe. Our global
investment strategy and depth of capital resources will allow us to
continue to provide long term financing to corporate real estate owners at
a time when more traditional sources of financing are not available.”

A. Fernández, Eroski Director of Expansion, Entourage dvd said:

“Working with W. P. Carey …continue reading

http://therealestatecoach.wordpress.com/2010/02/11/a-google-buzz-concern-a-post-wirth-reading/
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http://sanjose.therealestatemarketwatch.com/san-jose-real-estate-prices-drop-real-estate-firm-warns/
In a recent San Jose Mercury article, see attached, the author points to a prediction by a real estate website that speculates a decline in prices for San Jose real estate and in fact many other California cities.

http://californiarealestate-properties.com/california-real-estate-agents/a-newer-solar-thermal-technology-introduced-to-asheville/
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Source: PR-USA.net (press release) (Original Article)

Expert Group, Inc. Projects $4.3M Revenues for 2010; Presents Business Vision

Expert Group, Inc. (PINKSHEETS: EXPU), an FHA
certified financial lending institution specializing in home and commercial
real estate loans, is pleased to present 2010 projections as well as the
Company’s business vision.

Expert Group conservatively projects that in 2010 the company will achieve
$4.3 million in revenues and over $1.1 million in net income. This will be
accomplished by further expanding the Company’s business through a series
of acquisitions that result in new loan originators and new locations; as
well as by entering into other closely related sectors within the real
estate market.

Robert Rico stated: “Expert Group is on track to become a major player in
the real estate world. Companies in our space that have followed a similar
business model are Esslinger-Wooten-Maxwell (EWM Realtors, Inc.) founded in
South Florida, and is one of the largest real estate services firms in
America. Their success has been notable because they have taken advantage
of the business synergies that come through combining several inter-related
real-estate services and offering them under one business umbrella.

“There are four major business synergies at work in EWM that we endeavor to
achieve at Expert:

– Realty
– Loans
– Title
– Insurance

“The full-service firm that is EWM has 950 associates and staff. EWM offers
residential and commercial real estate services, corporate relocation,
international services, and business brokerage as well as home mortgage,
title closing services, and property insurance through their affiliated
companies, HomeServices Financial, EWM Title, and EWM Insurance.

“Warren Buffet’s Company, HomeServices of America, Inc., purchased EWM
Realtors in 2003, making it an affiliated company flights from Darwin to Melbourne (All Airports) of the Warren
Buffet/Berkshire Hathaway Companies.”

Robert …continue reading

http://michiganpropertyvirgins.blogspot.com/2010/02/on-that-note.html
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http://www.househuntersdirectory.com/blog/with-inventory-low-and-prices-rising-the-housing-market-stabilizes-builder-magazine-blog/
Home · About · Contact Us · Single Property Websites · Subscribe · House Hunters Directory Real Estate Blog. This blog brings together property news from around the world. With Inventory Low and Prices Rising, the Housing Market …

http://articlesupport.com/2010/02/02/your-must-know-checklist-when-buying-italian-real-estate/
Genuine real estate agents must hold a professional licence, qualification and indemnity insurance and be registered with a Chamber of Commerce. Their publicity material and website should show membership of one or more of the …

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http://www.househuntersdirectory.com/blog/fhfa-updates-gses-foreclosure-prevention-efforts-mortgageorb/
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Source: PR-USA.net (press release) (Original Article)

Top Types Of Real Estate Investing And Real Estate Leads

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Real estate investing is an awesome career that allows
you endless opportunity. Those
opportunities including financial freedom and schedule freedom! Real estate investing can be wonderful or it
can be a nightmare depending on the choices you make

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p.MsoNormal, li.MsoNormal, …continue reading

Source: FOXBusiness (Original Article)

OLNEY, Md., Jan 28, 2010 (GlobeNewswire via COMTEX) —-Sandy Spring Bancorp, Inc., (Nasdaq:SASR) the parent company of Sandy Spring Bank, today announced a net loss available to
common stockholders for the fourth quarter of 2009 of $4.4 million (($0.27) per diluted share) compared to a net loss available
to common stockholders of $3.8 million (($0.23) per diluted share) for the fourth quarter of 2008 and a net loss available
to common stockholders of $14.8 million (($0.90) per diluted share) for the third quarter of 2009. The fourth quarter of 2009
included a provision for loan and lease losses of $21.1 million.

Net loss available to common stockholders for the full year ending December 31, 2009 totaled $19.7 million (($1.20)
per diluted share) compared to net income available to common stockholders of $15.4 million ($0.94 per diluted share) for
the prior year. The results for the current year included a provision for loan and lease losses totaling $76.8 million for
the year and FDIC insurance expense totaling $6.1 million, which included a special assessment charge of $1.7 million. The
results for 2008 included a provision for loan and lease losses of $33.2 million for the year, a goodwill impairment charge
of $4.2 million relating to the Bank’s equipment leasing subsidiary and a pre-tax pension credit of $1.5 million.

“Looking back on 2009 and forward into 2010, we feel that this company has the underlying fundamentals and strength
to weather the current economic cycle that is having a profound impact on the national community banking industry and especially
the competitive landscape here in the Washington-Baltimore corridor,” said Daniel J. Schrider, president and chief executive
officer.

“We remain the largest independent locally-managed community banking company across our attractive footprint, and we
expect to build on our strong franchise as we begin emerging from the effects of Domains Sales the current credit cycle during 2010. Resolution
…continue reading