Personal Struggles to Success in a Changing Economy

Wow, what a week I had. Being a Realtor is a people business. A business that deals with people during emotionally trying times. Let’s face it, buying a house is the largest purchase most people make in their lifetime and often scary along the way.

However as our elected officials turn their backs on the individuals and seek the security of large corporate interests and international banker community life in America gets harder and harder for each of us Americans after each decision they make.

What is my point of writing about this?

I’m saddened by the extra financial stress pushing families over the edge into divorce or just negative change.  Home sellers and buyers are thrust into looking for a new place to live because “materialism just isn’t what tv and the local gossiping mother of 2 perfect little children” told them it was.

Yet, just when bad news after bad news hits, I get an email from a long time friend (almost said old friend!) that documents how she lost her home and business in a foreclosure that was not even hers!

With practically ZERO income and no apparent prospect for work, this 73 year old women decided life was going to be what she made it to be and went on to launch an exciting chapter in her life.  Knowing that others are facing similar hard times she documented a series of lessons that can help all of us overcome what the ultra wealthy are doing to our lives.

Here is an excerpt from her ebook that I recommend:

Homeless @ 73

How one gutsy Senior Citizen faced a year of being homeless and how she overcame obstacles that might put other folk in the hospital.

Unwilling to be crippled by circumstances, Janice Myers not only came back from disaster, she had fun doing it!

Her whole life changed overnight. Instead of staying stuck in the dark, she put a positive spin on a hopeless situation and turned on the lights for the rest of us!

Janice Myers gives you a personal glimpse into a major crisis in her life and her search to find the answers.

With no training in how to deal with the

total devastation of an ‘end-of-the-world event,

Janice brings courage and practical advice to those of us who are facing the point-of-no-return, either emotionally, physically, financially, or spiritually.

Keep Looking Up, for your redemption draws nigh!!!!!!!!!!!!

Rob

Real Estate Thanksgiving Humor

I don’t know about you guys, but I know way too many property owners who are feeling like the turkey on the left. In an effort to show you that your situation could always be worse, here are a three mega tales of real estate loss…I hope these make you feel just a little bit better:

The $200 billion CalPERS real estate investment portfolio has lost 23.5% of its value in the last fiscal year alone cancelling out 6 years worth of gains.

The once glorious Pontiac Silverdome which cost $55.7 million to construct in 1975 sold at auction on November 17th for $583,000.

Celebrity Nicholas Cage lost 2 New Orleans homes located in the French Quarter to foreclosure in early November. These two properties were valued at $5.5 million. In addition, records show that the actor owes another $6 million to the IRS. Whoa.

Have a safe, happy and fun Thanksgiving!

30 Year Trend of Interest Rates By Year

Here is a chart of 30 year mortgage interest rates for the past 30 years dating back to 1981.  In case you had any doubts about if now was a good time to lock in a low rate this chart should pretty much answer any of those questions.  Even if house prices trend down another 7% or so locking in a low fixed rate at the current 4.31% will still save a homeowner more than a lower price will.

Feel free to call if you have any questions about buying a home.  My lenders have been getting buyers with scores as low as 590 fixed rate 30 year loans!

Search for a Boiling Springs area home

 

Ron Paul Speech at Palmetto Freedom Forum 9/5/2011

If the United States does not go back to being a true Republic (we are not a Democracy!) and humbly honor the constitution things will change dramatically in the next few years. Paul is the only candidate I have seen that the establishment is afraid of. Enjoy the brief glimpse of intelligence.

Where Should You Invest Tomorrow?

With countries facing debt levels never seen before in modern history things are about to change.  European countries are facing debt problems that are just beginning to become main stream news.  Greece is capturing the headlines today but Italy and Portugal are right behind them with France and others not far behind. We all know that the United States has to keep printing money just to make the debt payments on the money we owe.  Our country is NOT living paycheck to paycheck anymore.  We are borrowing money just to make our next debt payment!

Change is coming. You can count on that.  However with all the turmoil surrounding us in the news some things just don’t seem to change.  Here is a chart showing the return real estate has made over the last 10 years starting from January 1, 2000 to August 1, 2011:

What? I thought real estate was a bad investment you say? The facts speak for themselves. Yet most people hold most of their wealth in paper assets like stocks and bonds.  A good real estate investment provides you monthly cash flow from day one and almost always rises in value over time.  Of course all residential and commercial real estate is NOT created equally so it’s important to follow key principles to maximize your safety and return.  I have been investing in real estate for over 12 years in the Spartanburg and Boiling Springs surrounding areas. If you would like to learn more about investing in real estate feel free to call me.  There are strategies you can choose that puts you as hands on or as hands off as you would like.  Just call me at 864-621-7900 before your stocks drop too much! Read more..

Homeowner Foreclosures on Bank of America

In what appears to be a large US financial institution getting a taste of their own medicine, a couple foreclosed on a Bank of America branch in Naples Florida!  Like a former business partner of mine once said, “If the people treated the banks the way the banks treated the people they would have been bankrupted long ago”.

You see, we used to own and run the largest Short Sale bank negotiating company in the state of SC. We have sat down at middle class family’s kitchen tables hearing the same story over and over again. “The bank said that if we sent them $3,000 they would put the remaining balance on the back of our loan and allow our normal payments to proceed.  We sent them everything we had.” said our clients. Only to find the banks collect the $3,000 and then require the remaining delinquent balance ASAP or face foreclosure. Sounds unreal I know. In fact we would tell people about how the banks treated people just like you and me and they could not believe it. They always thought we were exaggerating. We were not, and we have much worse stories we can tell.

Here is the article straight from Yahoo News.

By TARA-NICHOLLE NELSON – Mon Jun 6, 4:50 pm ET

In a modern-day evocation of David’s slingshot triumph over Goliath, a couple of foreclosed homeowners in Naples, Florida reportedly foreclosed on a Bank of America branch last week, their attorney actually having moving trucks pull up in front of a Naples branch to execute a foreclosure judgment against the bank.

What must have seemed to observers like a scene out of a parallel universe – you can see some video here – was actually the fair and logical conclusion to a situation which, the court had ruled, had an unfair and illogical start. In 2009, retired police officer Warren Nyerges and his wife, Maureen Collier, paid $165,000 cash for their 2,700 square foot home in the Golden Gate Estates subdivision, and never took a mortgage out on it. So imagine their surprise when, in Februrary of 2010, Bank of America initiated foreclosure proceedings against them. The Nyerges hired an attorney, Todd Allen, to defend them against the wrongful foreclosure, and the Bank eventually abandoned the matter.

But not before the Nyerges incurred $2,534 in attorney’s fees, which they requested informally from Bank of America multiple times before resorting to the courts, which ordered the bank to make the couple whole. When B of A still had not paid the judgment after five months of phone calls and letter writing by Allen and the Nyerges to the bank insisting that the court order be obeyed, Allen took the next step in the legal collection process, obtaining an order of foreclosure against the bank.
To continue reading the article visit Yahoo News

Keller Williams Spartanburg Continues Growth Compared to Local, National Branded Companies

Zillow Names Spartanburg SC #5 Best City for New Home Buyers

Real Estate values across the United States are down, down, down.  However, just like any market segment, some areas are performing better then others.  While everyone knows this is true for stocks it is every bit much better for real estate.

Focusing just on First Time Home buyers, a Zillow study ranked the top cities for new home buyers with Spartanburg SC ranking the #5 Best City for New Home Buyers!

Here are the criteria used and the data for Spartanburg, South Carolina. Read more..

This Month in Real Estate September 2010

This Month in Real Estate September 2010 …………………………………………………………………………………………………………………………….. Market Update The housing market was off to a rocky start as the second half of the year began. Much of the volatility, however, was anticipated and attributed to the now-expired tax credit. Despite softened sales this last month, home prices continued to gain -  thanks in part to record low jumbo loan rates, which are fueling more interest and activities in the higher end of the market. Meanwhile, the economy still has a lot of ground to cover before achieving its full, sustainable recovery. Consumers, while remaining on the cautious side, have increased their spending, which is supported by a gradual improvement in income. The stagnant job market continues to be a cause for concern, but overall, financial conditions have improved. For the first time in fourteen months, Read more..

South Carolina Foreclosures by County

South Carolina foreclosures for the month of July 2010 are pictured here by county.  Charleston leads the state with 514 this month.  Spartanburg county foreclosures come in at #10 with 110 during the month of July.  Greenville has the 4th highest amount of foreclosures with 365.  Clearly the economy is not improving and all credible financial pundits expect the economy to continue to weaken into 2015.

The take away from this?  If you are selling a home consider “forward pricing” ahead of the downward pricing curve.  If you are buying, buy a home priced at a level that leaves you extra discretionary income in the event you need it in the future.  Scroll down this page to search Spartanburg county foreclosures.

Keep Looking Up!

Rob

How Many Homes For Sale are in Spartanburg County?

The amount of Spartanburg County homes for sale is at an all time high.  from June 2008 to June 2009 the amount of homes for sale in Spartanburg county increased 97%!!! from 1,877 to 3,590.  That increase was driven by a poor economy and easy credit standards allowing virtually anyone to buy a home. Read more..

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