Archive for August, 2011

Real Estate Radio With Louis Cammarosano 7/11/11

On Monday July 11, 2011, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate Radio show on The Big Talker 1580 AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (24:33)

Ryan covers the Casey Anthony murder trial. Ryan noted that Moody’s downgraded Portgual’s credit rating to junk status. Ryan and Louis discuss Italy’s credit rating. Louis notes that Italy is too large of country to bail out and that many western countries have similar debt issues and keep kicking the can down the road by issuing more debt. Louis notes that the road eventually will be a dead end. Louis notes that the debt issues faced by countries can not be solved by issuing more debt. Ryan predicts that the US debt ceiling will be raised. Louis agrees and notes that the issue is that the debt ceiling gets raised routinely and immediate spending cuts are not taken seriously. Louis speculates that the Fed could secretly funnel money to third parties to purchase US debt and comments that since the Fed is not audited it is difficult to keep tabs on their activities;Ryan and Louis note that interest rates are kept artificially low and that all the sovereigns have debt issues; Ryan note that by keeping interest rates low bubbles are created. Louis notes that today’s low interest rates are designed to reflate the housing bubble but notes that as our currency is debased, even if interest rates rise and home prices drops the losses could be offset by paying back in the debased currency;Louis notes that owning a home, commodities, gold and silver may be safe havens in light of economic uncertainty;Louis and Ryan discuss the difference between buying  homes as investments vs. speculating and flipping homes;Louis notes that at interest rates in the single digits and below the real inflation rate, the banks are paying borrowers to take the money;Ryan and Shaun Murphy of Remax discuss the Arlington real estate market and note that the market is relatively stable given the amount of government contractors in the area. Shaun notes that 12% of loans in June were VA loans ; cash deals were 11%, conventional loans were 60% and FHA loans were 17%;Ryan and Louis discuss stated loans for self employed borrowers;Louis asks what will happen to the DC market if there are federal cuts; Louis  notes,however, the prospect for significant federal cuts are remote;Ryan notes that Warren buffet predicts a housing rebound at the end of this year and that unemployment would drop below 8%; Louis remarks that just because Warren Buffet is a good stock picker does not mean that he understands the overall economy and notes that Warren Buffet has belittled gold as an investment, yet gold has out performed Buffet’s Berkshire Hathaway’s stock; Louis also notes that  Buffet often expresses his opinions on the debt ceiling and the tax ceiling; Shaun discusses the rental market in the DC area. Louis notes that as rents rise, owning a home as a primary residence or investment becomes more attractive and also notes that as inflation rises, rents will also rise, whereas a home owner with a fixed mortgage will not see their monthly payments go higher.

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Posted by: Louis Cammarosano on August 7th, 2011 under HomeGain, HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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Staging Experts Say

This article is delivered by Elliman Realtors, New York City Apartments.

Staging professionals across the world will agree that many of the things that we miss upon staging a home are simple oversights. In order to address many of these, we must first focus on three separate categories of neglect, and further break those down into separate do’s and don’ts. The first would be appearance.

Appearance

One of the most accommodating things any seller can do is make more room. The more rubbish you have lying around, the less chance you have of selling in a short period of time. In fact, the overall look of both the inside and outside of your home is priority #1.

What some stagers have deemed as “counter intelligence,” simply translates to keep your countertops clear. A home always looks dirtier when countertops, or floors for that matter, are covered in unsightly clutter.

Another notable word of advice is to play it safe. Refrain from hanging provocative decor (i.e. – deer head). Meanwhile, be sure to check your house for other distasteful furnishings. Dust, cobwebs or trash are three other examples of DO NOT DISPLAY.

Damages are serious no-no’s; Replace deteriorating wallpaper and cover scratches or holes in the wall and floor.

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Posted by: HG Blog Admin on August 3rd, 2011 under Home Staging

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Hawaii’s Act 48 – The New Face of Foreclosure in the Aloha State

Signed into law on May 5, 2011 by Governor Neil Abercrombie, Hawaii’s Act 48 was touted as one of the strongest foreclosure laws in America. Its intent was clear and definite; provide additional protections to individuals facing foreclosure by reforming the process by which lien holders effectively foreclose on a property. Of key note:

  • Act 48 imposed a moratorium on Chapter 667, Part I Non-judicial Foreclosures effective until July 1, 2012. Known as ‘Part I’ of non-judicial foreclosures, this was the method previously used most by lien holders as it proved to be the fastest and least expensive.
  • Act 48 ‘fixed’ Chapter 667, Part II Non-Judicial Foreclosures to eliminate the requirement that the mortgagor sign the deed after foreclosure. In its original form, ‘Part II’ was inherently flawed by requiring that the mortgagor (who was being foreclosed on) to sign the deed. With lack of cooperation by the mortgagor being prevalent, Part II was not used very often in the past.
  • Act 48 created a Mortgage Foreclosure Dispute Resolution (MFDR) program. In essence, this program is offered to all owner-occupants whose property is being foreclosed on through non-judicial procedures and allows a platform to mediate with the lender. Lenders are required to participate if the owner chooses to go through this program’s mediation and will share in some of the expenses. This program will be administered by the Department of Consumer and Commerce Affairs, it is to be functional by October 1, 2011 and set to expire on September 30, 2014.
  • Owners can elect to convert a non-judicial to a judicial foreclosure, provided that they have not already participated in MFDR. Therefore, owner occupants are strongly encouraged to give proper thought to which venue is most beneficial to their particular circumstances.

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Posted by: Alex Cortez on August 1st, 2011 under HomeGain, Regional, Short Sales and Foreclosures

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