Treasury Department Touts Expanded Tax Credit for First-Time Homebuyers

Not sure the details but Treasury is offering a credit offer up to $8,000 to qualifying taxpayers

Commercial/Multifamily Mortgage Originations Plunge 80% from Fourth Quarter ...

A report from the Mortgage Bankers Association (MBA) shows a 80% drop from the same period in 2007

Housing starts fall to record lows (How many times have you seen this headline?)

They fell 16.8 percent from December to a seasonally adjusted annual rate per Housing starts fall to record lows  from Today's Real Estate News

Picking up a Dell Mini

So, to help the pain giving up my BlackBerry I put in a order for a Dell Mini 9.  I'm grabbing the XP version so I wouldn't have the Linux learning curve.  I don't get it till March but as soon as I do I'm post pics and my .02 cents...

Update: Called and added build in webcam and it moved the ship date from 2/26 to 3/9 - wish they would have told me that on the phone

Giving up my BlackBerry

So, I liked the Storm but it was just a little too big and the batter life just plan wasn't good for me.  I would still recommend it as a phone b/c I love a lot of things about it but my final decision was to return it in the first 30 days to get a phone phone since that's what the main reason I use it for.  I know I'm going to go into withdraw but we will see how bad it is.  I was pretty much a crackberry person so it's not going to be easy.

Day one review of Storm

Overall I really like the phone.  I still would like a week to give it my offical review but here are some quick day one notes:

Pros

• I have the typing down (I'm still faster on my pearl)
  
• Touch screen with click is nice
  
• Screen is wonderful and video podcasts look great
  
• Facebook reinstall fixed menu problem (I blame stupid appstore)
  
• Voice quality is good and my old Bluetooth headset connected quickly
  
• Easy to move icons around and customize it to your preferences
  

Cons

• Still haven't got the browser down (zoom when I want to click or click on the wrong thing)
  
• I miss the scroll ball
  
• Takes to long to reboot (if you install something)
  
• Flips to landscape to quick (Maybe I hold my BB to flat)
  
• Same with my last blackberry - I feel like the mute button should also be a Silent or vibrate button that switches to configurable profile (top left)
  
• I have answered the phone upside down when I'm using it in landscape mode (strange feeling)
  

Still need to figure out

• Google maps still doesn't use GPS (works with NAV4ALL and BB Maps)
  
• Need an app to easily upload video
  

Wish list

• e-mail/messages in conversation (like g-mail or IM messages)
  
• More app to work with new OS (bbPlaces and Qik don't work)
  
• An application store that works and is up to date (version looks to control it 9)
  

BlackBerry Storm 1 hour review

Well, I can't really say that I got to do much in the first hour.  I basically played with it for 10 min and then upgraded it to v4.7 of the OS that wasn't a quick process.  I'm not sure what was on it before but  4.7 works pretty well.  So, first hour was basically set up and that's it.  My first hour review:

Pros

• I like the luck button (on my old BB I remaped the 
  
• Love the auto focus camera: you can push the button (or touch the screen) and it focuses so when you take the picture it's a quick process (about a second)
  
• Transfer of contact and settings was seamless from other BB
  

They need to fix

• Sporadic menu drawing errors (ex, Facebook's submenu never looks quite right)
  
• Browser isn't quite there yet (maybe I just need to get used to it)
  
• Landscape suretype keyboard option
  
• Stop letting applications control the type of keyboard (ex, Opra Mini doesn't use suretype)
  
• Application store is down right embarrassing
  
• A little disappointed my mail accounts didn't port over but that's due to switching providers
  

ToDo

• Figure out why Goggle Maps isn't using the GPS (BB Maps does)
  
• Move around icons (not a fan of default folders)
  
• Look for some new applications
  
• Make some calls on it
  

One in five homeowners with mortgages underwater (Reuters)

Nearly one in five U.S. mortgage borrowers owe more to lenders than their homes are worth, and the rate may soon approach one in four as housing prices fall and the economy weakens, a report on Friday shows.

http://us.rd.yahoo.com/dailynews/rss/topstories/*http://news.yahoo.com/s/nm/20081031/ts_nm/us_usa_economy_mortgages

Home prices see another record plunge

Home prices fell in August for the 25th consecutive month and prices in 10 major markets plunged a record 17.7% over 12 months earlier, according to a key index of real estate values released Tuesday.

http://rss.cnn.com/~r/rss/money_topstories/~3/434687817/index.htm

The pace of new home sales fell to its lowest level in 17 years in August, according to a key government report released Thursday that signaled more dismal news for the housing sector in coming months.

http://rss.cnn.com/~r/rss/money_topstories/~3/402883414/index.htm

Greenspan: Economy in 'once-in-a-century' crisis

The U.S. credit squeeze has brought on a "once-in-a-century" financial crisis that is likely to claim more big firms before it eases, former Federal Reserve chief Alan Greenspan said Sunday.

http://rss.cnn.com/~r/rss/money_topstories/~3/392443838/index.htm

RE2R001 - Mailing list for multi units

Topics: Mailing list for multi units <Click here to download the show>

Why? To get deals before they are listed, friend just got a great deal

What I did up to this point
Got a PO Box right by my the office of my full time job
- $20 for 6/months and $2 for a key deposit
Contacted SorA office
- Got a sample report that would only have been $50 (wasn’t able to use it due to everything being in one cell)
- Paying $175 and hour for a file from county’s IT vendor (around $200)
Problems:
- This is only one county so I will need to do the same
- Some properties have a trust mailing address so will not get the owners all the time

I creating my first mailing using VisaPrint

Need to do a review of the sites:
http://www.premiumpostcard.com/
Lets you do standard postage (200+) for cheaper shipping but I didn't research
http://www.click2mail.com/
Example: Yellow cards with black writing - 100 postcards to 100 addresses for roughly 37 cents per piece (per the site)

I went with VisaPrint b/c I could order full color postcard and group them in small group as not to get pounded with lots of calls. Also, if you follow this link (http://www.vistaprint.com/frf?frf=924122510989) you will receive a special promotion and I'll get a discount on my next order for referring you.




Here is the verbiage:
Front: "Thinking of selling your multi-unit? I'm looking for one!"
"I'm a local investor that is in the market for another apartment building. Your property fits my investment criteria of what I'm looking for. If you have been considering selling please let me know. Or, if you just want to chat about investments that's fine also."

Back: "You are welcome to e-mail me:
John@PeoriaInvestments.com
Interested in building your portfolio? Let me know your criteria and I will let you know when I get a lead on a property that doesn't fit my strategy."
Split the mailing
After taking the list and breaking it down by removing the duplicates (people who own more than one property) I decided the list was two big. I have no idea how much interest this mailing will generate so I'm going to do two halves. Note, in my area there is actually more b/c I'm only doing one township.

Dirty Laundry:
Got a collection notice for not paying my sanitary bills for 2 of the properties and now I need to have my PM company follow-up.

Other Major Tasks:
Tool for tracking leads I hope SLOWLY come in
Check on who suggested what on getrealREI thread
Process for coming up with an offer price quickly
Thinking about Larry's ultimate buying machine program
Still thinking about being a Realtor
Will interview my agent

Que Review:
Investor in multi-unit deal (part owner of LLC)
Take on debt
Contribute 2.5% cash
Pitched update - 5-15% privet investor
(15% or interest free with part ownership of LLC)
Spent: $1800 in the appraisal
$1000 soil sample to meet EPA to prove I can build
Looked at a few other places but nothing worth sharing. Do you want me to share my bad deals and why I didn't continue with them?

Disclaimer:
The information contained on this show or the website is for informational purposes only.
In addition, this is not advice or a recommendation, just my opinions and experiences. You should contact an Agent, Layer, Accountant, or other independent advisor for personal advice or material to make any decision or take any action.

Foreclosures rise 14 pct so I'm making offers

I'm making a low ball offer on a REO in Pekin today. OK, I know all I have done is posted on Foreclosures lately but come on, it all over the news:
The percentage of vacant homes available for sale remained relatively flat in the second quarter, but still hovered in record territory.
http://rss.cnn.com/~r/rss/money_topstories/~3/344682992/index.htm

Reuters - Home foreclosure filings rose 14
http://us.rd.yahoo.com/dailynews/rss/topstories/*http://news.yahoo.com/s/nm/20080725/bs_nm/usa_economy_housing_foreclosures_dc

Foreclosures and stuff

So, on Tuesday I looked through the MLS for houses that are banked owned and I'm still shocked at what they are asking for them. My Agent did know of some deals that went through but the banks still have near market value on them. Are they just waiting with a high price hoping someone will come along and may near full price?

House of Representatives passed a massive rescue package to shore up the struggling housing market. http://us.rd.yahoo.com/dailynews/rss/topstories/*http://news.yahoo.com/s/nm/20080724/bs_nm/fannie_freddie_dc

In the news, The Federal Reserve unanimously approved new mortgage lending rules to crackdown on shady practices - particularly sub prime loans made to borrowers with weak credit. http://rss.cnn.com/~r/rss/money_topstories/~3/335014181/index.htm

The number of Americans losing their homes to foreclosure continued to soar in June: http://rss.cnn.com/~r/rss/money_topstories/~3/331566102/index.htm

With all of this stuff going on you would think I would be able to get a deal on another rental.

Homes in foreclosure top 1M

More than one million homes are now in foreclosure, the highest rate ever recorded. It's crazy to think somwthing like 1 in 10 people are late on there payments. Who do you know that could be letting the payments slip?

Anyway, I need to start looking for another rental!

http://rss.cnn.com/~r/rss/money_topstories/~3/305358905/index.htm

Home prices post record decline

The prices of homes sold in the first quarter of 2008 posted a record decline, according to a new report from the Office of Federal Housing Enterprise Oversight.

http://rss.cnn.com/~r/rss/money_topstories/~3/295921407/index.htm

Foreclosures: The fight over the fix

While Congress grapples with how to help troubled homeowners, the Bush administration is expanding a more modest effort to help at-risk borrowers.

http://rss.cnn.com/~r/rss/money_topstories/~3/288637271/index.htm

Where home prices are headed next

The housing implosion is nowhere near over. In 75 of the 100 top U.S. cities, prices are expected to fall in the next 12 months according to Fiserv Lending Solutions. Do you agree? If so you should wait to buy.

http://rss.cnn.com/~r/rss/money_topstories/~3/285354180/index.htm

Regulator: Fannie, Freddie face more risks

Mortgage financing giants Fannie Mae and Freddie Mac could face further problems if home prices continue to plummet more than many current forecasts, according to the chief federal regulatory agency charged with overseeing the two firms.

http://rss.cnn.com/~r/rss/money_topstories/~3/285586459/index.htm

Fed cuts rates again and hints at pause

The Federal Reserve cut its key interest rate by a quarter percentage point Wednesday, but the central bank's statement signaled it may be the last rate cut for at least a while.

http://rss.cnn.com/~r/rss/money_topstories/~3/280958372/index.htm

$900M loss and more bad loans - Countrywide

Countrywide Financial Corp. swung to a nearly $900 million loss Tuesday, after the mortgage lender was forced to set aside more money for credit losses as a result of further deterioration in the housing market.

http://rss.cnn.com/~r/rss/money_topstories/~3/280155588/index.htm