PhoenixREIC News Blog

Buying Vs. Renting: What Your Realtor WON'T Tell You... (From Debt Free Bible)

2012-02-06T16:22:00.000-08:00

RITHOLTZ: A Housing Bottom? You've Got To Be Kidding Read more: http://www.businessinsider.com/ritholtz-a-housing-bottom-youve-got-to-be-kidding-2012-2?source=patrick.net#ixzz1leP6nzrQ

2012-02-06T16:18:00.001-08:00

Huge loss in home values cratered the Bay Area economy

2012-01-03T10:37:00.000-08:00

The High Price of Materialism

2011-12-10T08:33:00.000-08:00

60 Minutes: Jack Abramoff on Lobbying and Gov Corruption

2011-11-27T09:06:00.000-08:00

Real Estate: Why Home Prices Won't Bottom Out

2011-11-27T08:59:00.000-08:00

Watching the U.S. home market struggle to rebound is like listening to children in the back of a car. No, we're not there yet.

The National Association of Realtors reported that ten real estate markets are "leading the nation toward a general recovery and stability of the housing sector," but myriad problems are going to weigh down the housing market for months to come.

Read more... (Reuters via Yahoo News)

Deepak Chopra: Money Can’t Buy Happiness

2011-11-04T08:12:00.001-07:00

"The Way Forward” Authors: How to Restore American Greatness

2011-10-24T08:23:00.001-07:00

Occupy Wall Street Shows People Want Democracy, Not Corporatocracy: Jeffrey Sachs

2011-10-21T09:04:00.000-07:00

The men who crashed the world - Meltdown - Al Jazeera English

2011-10-21T08:56:00.000-07:00

The men who crashed the world - Meltdown - Al Jazeera English

Trader on the BBC says Eurozone Market will crash

2011-10-03T09:27:00.000-07:00

California and Bust

2011-09-29T21:46:00.000-07:00

California and Bust (by Michael Lewis, Vanity Fair)

The smart money says the U.S. economy will splinter, with some states thriving, some states not, and all eyes are on California as the nightmare scenario. After a hair-raising visit with former governor Arnold Schwarzenegger, who explains why the Golden State has cratered, Michael Lewis goes where the buck literally stops—the local level, where the likes of San Jose mayor Chuck Reed and Vallejo ﬁre chief Paige Meyer are trying to avert even worse catastrophes and rethink what it means to be a society..Read more...

It’s Time to Refinance America and Time For Washington to Get Out of The Way

2011-09-26T12:47:00.000-07:00

It’s Time to Refinance America and Time For Washington to Get Out of The Way (www.mortgagenewsdaily.com)

Survey shows first-time homebuyers growing weary of short sales

2011-09-26T12:41:00.000-07:00

Survey shows first-time homebuyers growing weary of short sales (www.housingwire.com)

First-time homebuyers are growing tired of short sales, which take nearly 17 weeks to complete, according to the latest Campbell/Inside Mortgage Finance housing survey.

Breaking Free From Consumerist Chains

2011-09-20T08:18:00.000-07:00

Breaking Free From Consumerist Chains (ZenHabits.net)

The Truth about the American Economy : 1947-2010

2011-09-09T08:51:00.000-07:00

The Truth about the American Economy : 1947-2010 (Patrick.net)

Feds say Bank of America worse than Countrywide

2011-09-09T08:47:00.000-07:00

Feds say Bank of America worse than Countrywide
(www.marketwatch.com)
Commentary: Federal lawsuit says even Mozilo was shocked

Government Regulator Sues Wall Street Banks For Fraud In Subprime Mortgage Deals

2011-09-02T21:33:00.000-07:00

Government Regulator Sues Wall Street Banks For Fraud In Subprime Mortgage Deals (Huffington Post)

Here’s The Bomb That Might Blow A Hole In Bank Of America…

2011-08-31T08:19:00.001-07:00

AP Exclusive: Mortgage 'robo-signing' goes on

2011-07-18T16:25:00.000-07:00

AP Exclusive: Mortgage 'robo-signing' goes on (AP - Yahoo Finance)

AP Exclusive: 'Robo-signing,' at center of foreclosure probe last year, is still rampant

For Home Prices, It’s Back to at Least 2004

2011-07-05T08:39:00.000-07:00

For Home Prices, It’s Back to at Least 2004 (NY Times)
The Case-Shiller home price index managed a small gain in April, but most markets are still not as high as they were in 2004.

More Money for Struggling Homeowners

2011-07-05T08:34:00.000-07:00

More Money for Struggling Homeowners
A new federal program is offering aid with a sweet kicker: It doesn't need to be repaid. (SmartMoney.com)

Federal Retreat on Bigger Loans Rattles Housing

2011-06-28T08:20:00.000-07:00

Federal Retreat on Bigger Loans Rattles Housing
Planned cuts in the size of a mortgage that can be backed by the federal government may hurt upscale housing markets in high-cost states like New York and California.
Read more...(NY Times)

Assessor: Glimmer of rebound in Santa Clara County real estate

2011-06-24T08:45:00.000-07:00

After three years of enduring plummeting property values, tens of thousands of Santa Clara County homeowners will see their property tax bills begin to creep up again this fall, the first signal that some of the county's most distressed real estate markets are clawing back from the bottom.

Read more...
(SJ Mercury)

The Truth About the Economy

2011-06-22T22:03:00.001-07:00

Ex-Mortgage CEO Sentenced to Prison for $3B Fraud

2011-06-22T11:59:00.000-07:00

ALEXANDRIA, Va. (AP) — The CEO of what had been one of the nation's largest privately held mortgage lenders was sentenced Tuesday to more than three years in prison for his role in a $3 billion scheme that officials called one of the biggest corporate frauds in U.S. history.

Read more... (NY Times)

Technology bubble raises fears of a Palo Alto housing bust

2011-06-21T08:41:00.000-07:00

Technology bubble raises fears of a Palo Alto housing bust
Psst! Got a spare $1.3m? Well if you have, a very average house in Palo Alto, home of Facebook and Google among other technology companies, could almost be yours. In a country where collapsing house prices are the norm the technology capital has seen price rises of 20pc, increasing concerns of a technology bubble which could end up bursting. Read more...

Less Talk and More Action: Prof. Shiller’s Rx to Revive America’s ‘Animal Spirits’

2011-06-15T09:21:00.001-07:00

Shiller: Housing Could Fall Another 25% But Is Harder to Predict Than the Weather

2011-06-15T09:10:00.001-07:00

As Housing Stalls Bank of America and Other Too Big To Fail Banks Stand to Lose Billions

2011-06-15T09:04:00.001-07:00

Gov't faults 3 lenders over mortgage-aid efforts

2011-06-09T13:30:00.000-07:00

Gov't faults 3 lenders over mortgage-aid efforts (Yahoo News)

Second-Mortgage Misery

2011-06-07T08:37:00.000-07:00

Second-Mortgage Misery
Nearly 40% Who Borrowed Against Homes Are Underwater.

Don’t Worry, Be Wealthy: Easiest Time Ever to Make Millions, Author Siebold Says

2011-06-01T09:35:00.000-07:00

The Millionaire Mindset

There are key differences between the way rich people look at money and the way the rest of us do, according to Siebold:

Wealthy people look at money in positive terms and as an opportunity, where as most of us live in fear of being laid off or not having enough money for retirement.
Instead of worrying about running out of money, soon to be millionaires are thinking how to make more money. World-class performers are finding problems that are profitable to solve. They know that just because a solution hasn't been discovered yet doesn't mean it doesn't exist.
Millionaires tend to move towards what they want, rather than move away from what they don't want, which is what the masses most often do.
World-class thinkers have the guts to be optimistic right now in these shaky times and reject the middle-class cynicism that plagues the masses. It's not comfortable for a millionaire in the making to forge ahead when everyone around him or her is negative, cynical and unsupportive, yet the great ones push forward and are rewarded with riches for the rest of their lives.

How is your Credit Score Calculated

2011-06-01T09:31:00.000-07:00

How is it calculated?

FICO score is calculated from 5 different financial ingredients based on your personal credit history. It's important to note, age, sex and race are not factors.

Here's the breakdown:

35% - Payment history. Put simply, "have you paid your bills onetime reliably over time?"

30% - Amount of credit available. "If you have a lot of credit available but not used, that's a good thing," says Greene. The lower the balance on your credit, the better.

15% - Length of credit history. The longer you can show you're a reliable risk, the better it is for your score.

10% - New credit. Don't open a lot of credit suddenly. "When we see many new credit instruments being opened in a small period of time - that's a concern," Says Greene.

10% - Type of credit used. It's helpful if you have different types of credit - a credit card, an auto loan, a mortgage etc.

Get Ready for a New Home Construction Boom! Really

2011-05-26T11:44:00.000-07:00

As Lenders Hold Homes in Foreclosure, Sales Are Hurt

2011-05-23T08:40:00.001-07:00

Rent or Buy, a Matter of Lifestyle

2011-05-20T12:56:00.000-07:00

Rent or Buy, a Matter of Lifestyle (NY Times)

Consumers trending to shorter-term mortgages

2011-05-20T12:41:00.000-07:00

Consumers trending to shorter-term mortgages (washingtonpost.com)
Could I refinance you into a seven-year fixed-rate mortgage at 2.99 percent? Or how about 10 or 15 years fixed in the mid-3s? Read more...

Speculation explains more about oil prices than anything else

2011-05-16T15:45:00.000-07:00

Speculation explains more about oil prices than anything else (McClatchy Newspapers)

Where It's Better to Buy: 10 Major Cities Where Buying Beats Renting - US News & World Report

2011-05-10T09:41:00.000-07:00

Where It's Better to Buy: 10 Major Cities Where Buying Beats Renting - US News & World Report

Is The Market Rigged? Survey Says … ‘Yes!’

2011-05-05T10:37:00.000-07:00

Barry Ritholtz: Housing Could Struggle for Another 5-10 Years

2011-05-05T10:31:00.000-07:00

Palo Alto real estate market heating up

2011-04-20T07:52:00.000-07:00

Real-Time Real Estate Market Data from Altos Research LLC: "

"

The Only Thing More Complex Than the Tax Code Is Figuring Out How to Fix It

2011-04-18T10:28:00.001-07:00

The Deficit Is HELPING the Economy, Not Hurting It, David Levy Says

2011-04-18T10:23:00.000-07:00

How to Avoid Loan Modification Scams: Industry “Rife with Corruption,” Consumer Advocate Says

2011-04-15T11:52:00.000-07:00

Not Only is Peter Lynch Wrong, Stocks in General Are a Bad Investment, Says Index Investor Hebner

2011-04-13T08:43:00.000-07:00

Debt, Deleveraging and Demographics Mean Great Depression Ahead, Dent Says

2011-04-01T10:17:00.000-07:00

Mapping the 2010 U.S. Census

2011-03-25T09:31:00.000-07:00

Mapping the 2010 U.S. Census (NY Times)

New-home sales plunged in February to record low

2011-03-23T09:56:00.000-07:00

New-home sales plunged in February to record low (Yahoo Finance)
Sales of new homes plunged in February to record low; median price tumbled to $202,100

Religion may become extinct in nine nations, study says

2011-03-22T13:30:00.000-07:00

Religion may become extinct in nine nations, study says (BBC)

A study using census data from nine countries shows that religion there is set for extinction, say researchers. Read more...

More Than Money, Japan Needs a "Berlin Airlift" of Supplies

2011-03-15T21:29:00.000-07:00

2011-03-08T16:56:00.000-08:00

Who's buying homes? The rich

NEW YORK (CNNMoney) -- The rich are different from you and me: They're buying real estate.

Bank Lobby Is Wrong, Warren Says: The CARD Act Is Helping Consumers

2011-03-01T09:00:00.000-08:00

In "Dangerous World", Unions Fight "Assault" on Middle Class Families, Elizabeth Warren Says

2011-03-01T08:57:00.000-08:00

Deflation

2011-02-25T13:47:00.000-08:00

BOB PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows

2011-02-25T13:43:00.000-08:00

"Pretty Ham-Fisted": Glenn Hubbard Reviews Obama’s Newest Housing Fix

2011-02-25T13:34:00.001-08:00

Oil Prices Surge To New Highs -- When Will They Wallop The Economy?

2011-02-22T08:21:00.000-08:00

Spousonomics: Marriage and Economic Theory Tie the Knot

2011-02-11T10:08:00.001-08:00

THE PERFECT BAILOUT: Fannie And Freddie Now Send Taxpayer Cash Directly To Wall Street

2011-02-02T10:39:00.001-08:00

Dow 12,000: Rally Hits New Heights But Ritholtz Sees Correction Coming

2011-02-02T10:37:00.001-08:00

America's most overvalued - and undervalued - cities

2011-01-24T09:04:00.000-08:00

America's most overvalued - and undervalued - cities (cnn money)

CEO as Statesman: Parag Khanna's New Plan for "How to Run the World"

2011-01-14T09:44:00.000-08:00

Four Ways to Measure Your Standard of Living

2011-01-12T12:10:00.000-08:00

Four Ways to Measure Your Standard of Living

FICO Questions Answered: Fair, Isaac CEO Reveals 3 Key Ways to Improve Your Score

2011-01-12T09:29:00.001-08:00

WORLD - CRUISE 2010［世界一周を17分で！］

2011-01-03T12:16:00.000-08:00

IT'S OFFICIAL: The Bears Were Wrong!

2010-12-23T13:44:00.001-08:00

Wikileaks Exposes All Firms and Could Spell the End of Email, Says Dartmouth Professor

2010-12-23T13:43:00.000-08:00

Higher Rates Could Mean End to the Refi Bubble, Says Huntington CEO

2010-12-21T15:24:00.001-08:00

Bank CEO "Quite Optimistic" About 2011: "I Think You'll See Much More Lending"

2010-12-21T15:22:00.000-08:00

10 Places to Move Abroad and Extend Your Life

2010-12-20T12:42:00.000-08:00

10 Places to Move Abroad and Extend Your Life

Senate Kills Dream Act As Anti-Immigration Sentiment Grows

2010-12-20T11:13:00.001-08:00

"Never Been a Better Time" to Buy a House, RealtyTrac's Sharga Says (With Caveats)

2010-12-20T11:11:00.000-08:00

Richard Suttmeier's 2011 Outlook: Pain in the Banks as Housing Falls Another 15-30%

2010-12-20T11:09:00.001-08:00

The Future of Money

2010-12-09T09:53:00.000-08:00

The Future of Money

How to Find ANYTHING on the Internet

2010-12-09T09:42:00.000-08:00

How to Find ANYTHING on the Internet

How To Travel The World For Free (Seriously)

2010-12-09T09:40:00.000-08:00

How To Travel The World For Free (Seriously)

Maybe this guy has a point

2010-12-03T13:08:00.001-08:00

Is Your Health on the Line?

2010-12-02T09:16:00.000-08:00

Unless you've had your cell phone permanently glued to your ear, chances are you've heard the recent health buzz: Mobile devices may cause cancer. While it's true that the National Cancer Institute has ruled them safe, a growing number of independent researchers disagree.

Read more... (Yahoo - Health - Women's Health)

8 Foreclosure Ghost Towns Seeing Signs of Life - CNBC

2010-12-01T08:43:00.000-08:00

Merced, Calif. - Home values from low: +6.1%
Riverside, Calif. - Home values from low: 9%
Stockton, Calif. - Home values from low: +2.9%
Modesto, Calif. - Home values from low: +2.8%
Las Vegas, Nev. - Home values from low: +0.4%
Vallejo, Calif. - Home values from low: +2.9%
Salinas, Calif. - Home values from low: +5.2%
Madera, Calif. - Home values from low: +8.6%

8 Foreclosure Ghost Towns Seeing Signs of Life - CNBC

Case Shiller: Here Are The 15 Housing Markets That Will Fall The Most By 2012

2010-11-30T15:40:00.001-08:00

Case-Schiller's September housing report came out worse than expected, confirming to any doubters that the housing double dip is here.
#15 Prescott, Ariz.
#14 Salinas, Calif.
#13 Pensacola, Fla.
#12 Cape Coral, Fla.
#11 West Palm Beach, Fla.
#10 Punta Gorda, Fla.
#9 Orlando, Fla.
#8 Atlantic City, NJ
#7 Fort Lauderdale, Fla.
#6 Gainesville, Fla.
#5 Phoenix, Ariz.
#4 Ocean City, NJ
#3 Miami, Fla.
#2 Las Vegas, Nev.
#1 Naples, Fla.

Read more: (Business Insider)

Stocks Fine for Now but Then Dow Will Crash to 5,000, Says Nenner

2010-11-30T15:34:00.000-08:00

Report: We Don't Need More Vitamin D and Calcium

2010-11-30T10:39:00.000-08:00

Report: We Don't Need More Vitamin D and Calcium - Marion Nestle - Food - The Atlantic

When I die, so does my dog: Some pet owners take animals to their graves

2010-11-30T10:34:00.000-08:00

When I die, so does my dog: Some pet owners take animals to their graves. Some simply don't want to be buried alone, while others fear no one will take care of the critters (msnbc.msn.com)

Busting the myths about electric cars

2010-11-30T09:53:00.000-08:00

Busting the myths about electric cars (guardian.co.uk)

Shadow Inventory Jumps More Than 10 Percent in One Year, Pushing Total Unsold Inventory to 6.3 Million Units

2010-11-30T09:26:00.000-08:00

Shadow Inventory Jumps More Than 10 Percent in One Year, Pushing Total Unsold Inventory to 6.3 Million Units (corelogic.com)

"Obama is Toast", Davidowitz Says: U.S. to Face Dollar Crisis by 2012

2010-11-24T10:26:00.000-08:00

Insider Trading Is “Everywhere,” Matt Taibbi Says: “The Fear Is There’s No End to It”

2010-11-23T13:48:00.001-08:00

Quantitative Easing Explained

2010-11-23T09:32:00.000-08:00

Deficit and taxes: Time to raise taxes on the rich

2010-11-18T10:18:00.000-08:00

Op-Ed

It's time to tax the rich
Contrary to the Republican mantra, Clinton did it and the economy took off.

Read more...(latimes.com)

Should You Be Snuggling With Your Cellphone?

2010-11-16T10:52:00.000-08:00

WARNING: Holding a cellphone against your ear may be hazardous to your health. So may stuffing it in a pocket against your body.

Read more... (NY Times)

California Court Backs Illegal Immigrant Students

2010-11-16T10:48:00.000-08:00

The California Supreme Court ruled that illegal immigrants can be eligible for the same reduced tuition at public colleges and universities as legal residents of the state.

Read more...(NY Times)

The 'Israelification' of airports: High security, little bother

2010-11-16T10:37:00.000-08:00

The 'Israelification' of airports: High security, little bother - thestar.com

While North America's airports groan under the weight of another sea-change in security protocols, one word keeps popping out of the mouths of experts: Israelification.

That is, how can we make our airports more like Israel's, which deal with far greater terror threat with far less inconvenience.

Read more... (thestar.com)

Should we pay down the mortgage or save for retirement?

2010-11-15T12:03:00.001-08:00

(MONEY Magazine) -- For more than a year, Kim Champney, 40, and Pat Minick, 41, have been kicking in an extra $650 to their $1,048 monthly mortgage payments. "We don't like carrying a lot of debt," says Minick, who stays home with their three kids, ages 7, 8 and 10

At this pace, the couple will pay off the loan in 2018, eight years early. But with their mortgage rate a low 4.4% after a refi, they wonder if the house is the best place to stash their cash.

Read more...(MONEY Magazine)

Middle Class in Crisis: America Needs a Reality Check, Gary Shilling Says

2010-11-15T11:48:00.000-08:00

A look at how the swell of Chinese globalization is having an impact on the coast of Africa.

2010-11-12T13:03:00.001-08:00

Report: 80 percent of Las Vegas homeowners underwater on mortgage

2010-11-12T11:56:00.000-08:00

Las Vegas home values as measured by Zillow fell 4.2 percent in the third quarter and pushed the region’s percentage of underwater properties to 80.2 percent.
Read more... (Las Vegas Sun)

China builds 15-story hotel in 6 days

2010-11-12T11:52:00.001-08:00

California Prop 19 goes down - Cartoon (McClatchy.com)

2010-11-09T21:17:00.000-08:00