California Real Estate Markets Are Red Hot

I would think that you’re crazy if you tell me this statement six months ago. Frankly, RED HOT is not even enough to describe the current market. Here are some of my personal anectodes, based on my bidding in the market:
1. Most listings go into pending on the first two days, or after the first weekend.
2. ALL homes have multiple offers at or WAY above listing prices. It’s getting common to have some 20 to 40 offers if the listing doesn’t get pulled down in the first month.
3. If you don’t work with listing agents, it’s end-of-story for you.
4. Grand opening at new home sites are PACKED!!
5. The bidding frenzy is extending some 60 miles away from the center of the metropolitan area.
6. Even handyman or contractors for flooring/carpeting, etc. won’t answer or return your phone calls. I tried to call a handyman for flooring. Not only that he doesn’t return the calls, he has requested his carrier to post a message: “On the request of the subscriber, this phone number does NOT accept incoming calls.” Frankly, that is just NUTS! And this is not just an isolated experience on one handyman, but my experiences with several handymen are like this as well.
7. MLS inventory was 40% down year-to-year several months ago. I wouldn’t believe this if I didn’t see this myself, but MLS listing inventory is going down to essentially absolute ZERO probably in the next one or two months within the 60 miles radius of my search. Just go to redfin.com, and punch the city names. On the upper-right corner, you can see the inventory plots. It’s a straight line heading down to zero, since last October/November.

With Fed buying 40 billions of MBS mortgage securities every month thru QE3, which will tend to close the spread between treasury bonds and mortgage bonds, it is possible that mortgage rates may go even further down. FHA also may waive the 3-year waiting period after short sale/foreclosure. If that happens, in conjunction with even lower mortgage rate, the housing markets can easily go up by another 20%. FHA down payment is only 3.5%. That is basically nothing, and won’t even cover the transaction cost of buying and selling. Taxpapers are essentially subsidizing all the future defaults (again)!

So where do we go from here? I’m a long-term bear on the housing market, and I have called the short-term bottom five months ago this year. I’m not changing my view (yet). But it is surprising that how much intervention can do to the housing markets. I expect the next short-term peak at about 2016, and the next bottom to come at about 2018 to 2020, but that is at least 6 years away from now. If you need a home, but you cannot wait for 6 years, it may still be better to buy now rather than later. I think the prices at the next bottom may be slightly higher than the bottom that was made in 2011/2012. But you would have saved on rents for sure. Given the current pricing, with the exceptions of being right at the center of metropolitan area, it is certainly cheaper buying than renting.

Best luck on your housing hunting trip, because you will need A LOT of that.

Housing Market Making A Short Term Bottom

It looks like housing prices may find a short-term bottom this year, assuming a stable low interest rate environment. The primary reason that I’m saying this is because of an ultra-low inventory of homes on the market, about some 30% to 40% lower than last year or the year before. Furthermore, there are a couple of programs that may reduce the number of foreclosures or short sales to come to the market:

1. Bank of America converting foreclosures to rentals to delinquent borrowers.

2. Fannie Mae implementing bulk sale of REO to investors to convert to rental.

The bottom line is that in majority of the US housing markets, it is becoming cheaper to own than to rent at the prevailing mortgage interest rate. This is bringing many big or mom-and-pop investors to invest in the housing market. However because of the low interest rate, I do NOT believe that this will be the final bottom before a sustainable rise. Eventually, the real bottom will be made near the peak of a bond market interest rate. With a rising stock market for the next several years, the mortgage interest rates will be rising as well, putting a cap over whatever advances that the housing prices can make.

If you want to invest, make sure that it is both net P&L positive and cash flow positive on a 30-year fixed rate financing. The action of mortgaging will reduce the potential impact from the downward pressures of the falling bond market and therefore the rising of interest rate. With a rising rental market everywhere, it is a good time to invest in real estate as long as you can make the math works.

Bailout Passed In House, What’s Next?

Markets on Thursday may react positively initially. I’ve actually bought back some of the positions that I sold at a slightly lower prices. But I’m simply trading these stocks.

Earning seasons however are just around the corner. As soon as this boost is over, I expect that markets may test the recent low, and it’d better hold at a higher level. If that is how things go, then we may have an intermediate rally. In the meantime, I think precious metals sector may take a back seat, and trade in a range.

Energy sectors however are looking VERY BAD currently as I’ve said previously. I’ve pretty much sold out all of my energy holdings, except the ones that are held under my money management account (which is actually significant). I don’t want to second guess what my money manager does. But I’m not going along with his bets temporarily.

In summary, the big picture should be
1. General stock markets will work their way up slowly.
2. PM sector probably trading in a big range to continue to finish Elliot wave 2 and tire all participants.
3. Energy sector is undergoing a fall of Elliot wave 2, and this is usually the worst down wave in a bull market. I don’t know how long it will last, but frankly, these stocks are dirt cheap. I may still pick up some value plays.

PM sector should lead energy sector. Therefore, it fell first, and it will rise first also. Eventually, money from the reflation policies from all the government bailouts will find their way into actual commodity prices. Before that happens, PM will be the most sensitive, and will react first. When the reflation becomes inflation again, energy sectors will be alive again.

Looking forward in 2009, I believe both energy and PM will come back in a big way next year. Be ready to switch over.

For now, long term commodity investors can continue to hold. The only thing that I hate to hold is stocks in general stock market.

Sorry that I haven’t been blogging on a more regular basis. I’m a little worn out between markets and my day job.

When Will Housing Markets Bottom?

Ed Ross who just had a book “Forecasting for Real estate Wealth: Strategies for Outperforming Any Housing Market”, is saying that NOW is the time to buy and jump back into the housing market. It is my personal opinion that anyone claims such given the preponderance of evidence against him or her is just irresponsible. Yeah, housing prices always go up if your investment horizon is to hold it for more than 20 years. Oh no, 20 years was not a typo.

Home as an investment vehicle is no different than any other kinds of investment, subjected to considerations of risk versus return. The best advantage is obviously that it affords you the leverage power of 5X to infinite X (if you put zero down, or even doing 125% financing) without the danger of getting a “margin call” (until you cannot make the mortgage payment). As I have explained in “Leverage: the secret of making big money”, those are the major reasons of why your home could be your best investment. But the days for 100% or >100% financing are over. And you only get to do such deals until you get busted and fail.

But the leverage power that you get from investing/buying a home works both way, magnifying your percentage of potential return or loss. To make a statement of “home prices always go up in the long term” is just totally irresponsible. The only reason that it is true is because the inflation rate is always more than zero percentage in the long term. Obviously, inflation rate is positive because societies have gone away from gold standard to a fiat money system.

Now if we look at the most recent housing bubble occurred in Japan as an example, we will find that the prices have NOT recovered to the peak of 1991. In fact, prices in 6 largest cities have dropped 64% from 1991 to 2004. And interest rates have been cut to almost 0% and loan terms extended to 90 or 100 years without being able to stimulate the housing economy. If such declines in home prices can happen in a country where the lands on islands are the most precious commodity and population density is relatively high, then there is no reason that it cannot occur here in the United States.

While I don’t think US will follow the deflationary model of Japan, but rather Argentina’s inflationary track, housing market in nominal prices before adjusting for inflation is most likely to continue to fall towards 4th quarter of 2012. Certainly, my call on the bottom can be wrong, but at least I was intelligent enough to know that we are in the post-peak of housing environment back on August 4th 2006 (in the last paragraph of “Why Stock Markets Crash”).

My date of 4th quarter of 2012 is based on the following observations. First and foremost, the second major wave of mortgage payment reset is not over until the first quarter of 2012.

While the peak of the option ARM resets is at about mid-2011. Since option ARM holders can continue to choose to pay the minimum payment on their mortgage until right before their reset, I assume that the flood of REOs (real estate owned by lenders) won’t be in the market until 6 to 9 months after the first missed payment. With the number of the homes potentially going thru foreclosures and downsizing of the banks, I won’t be surprised that the foreclosure process will take a whole year. Therefore, the housing supply situation will probably be very bad in mid-2012 (1 year from the peak resets in mid-2011) until first quarter of 2013. If you add 6 to 9 months on top to the mid-2012 for the time to sell a REO, there will NOT be any real recovery until 1st or 2nd quarter of 2013.

For the people who are looking to buy, the major bulk of the price declines should have happened by 3rd/4th quarter of 2012 or earlier. I believe that there is still a potential 15% to 20% downside from the current prices. If you’re looking forward to invest, there is just no reasons that you should put your money in a potentially sinking boat.

Interestingly, from Martin Armstrong’s economic confidence model, the credit cycle probably will bottom near July of 2011, which is consistent with the above timeframe. The above date probably will coincide with a bottom in the financial stocks (or the stock market for that matter) will certainly occur first probably with a minimum lead time of 9 to 12 months ahead of the actual housing bottom.

With an inflation rate that is probably going to be higher than normal going forward, a low Fed rate will not be helping much on the mortgage rate either. For those housing bulls who think that a low Fed rate will come to rescue, they don’t understand that an initial teaser rate at 1% (while the long term rate was still at 4.5% or above) will most likely NEVER come again. Since long term rates will most likely go higher due to heightened inflaiton, mortgage rates will be higher too. That certainly won’t help the housing prices.

When Will Housing Markets Bottom

Ed Ross who just had a book “Forecasting for Real estate Wealth: Strategies for Outperforming Any Housing Market”, is saying that NOW is the time to buy and jump back into the housing market. It is my personal opinion that anyone claims such given the preponderance of evidence against him or her is just irresponsible. Yeah, housing prices always go up if your investment horizon is to hold it for more than 20 years. Oh no, 20 years was not a typo.

Home as an investment vehicle is no different than any other kinds of investment, subjected to considerations of risk versus return. The best advantage is obviously that it affords you the leverage power of 5X to infinite X (if you put zero down, or even doing 125% financing) without the danger of getting a “margin call” (until you cannot make the mortgage payment). As I have explained in “Leverage: the secret of making big money”, those are the major reasons of why your home could be your best investment. But the days for 100% or >100% financing are over. And you only get to do such deals until you get busted and fail.

But the leverage power that you get from investing/buying a home works both way, magnifying your percentage of potential return or loss. To make a statement of “home prices always go up in the long term” is just totally irresponsible. The only reason that it is true is because the inflation rate is always more than zero percentage in the long term. Obviously, inflation rate is positive because societies have gone away from gold standard to a fiat money system.

Now if we look at the most recent housing bubble occurred in Japan as an example, we will find that the prices have NOT recovered to the peak of 1991. In fact, prices in 6 largest cities have dropped 64% from 1991 to 2004. And interest rates have been cut to almost 0% and loan terms extended to 90 or 100 years without being able to stimulate the housing economy. If such declines in home prices can happen in a country where the lands on islands are the most precious commodity and population density is relatively high, then there is no reason that it cannot occur here in the United States.

While I don’t think US will follow the deflationary model of Japan, but rather Argentina’s inflationary track, housing market in nominal prices before adjusting for inflation is most likely to continue to fall towards 4th quarter of 2012. Certainly, my call on the bottom can be wrong, but at least I was intelligent enough to know that we are in the post-peak of housing environment back on August 4th 2006 (in the last paragraph of “Why Stock Markets Crash”).

My date of 4th quarter of 2012 is based on the following observations. First and foremost, the second major wave of mortgage payment reset is not over until the first quarter of 2012.

While the peak of the option ARM resets is at about mid-2011. Since option ARM holders can continue to choose to pay the minimum payment on their mortgage until right before their reset, I assume that the flood of REOs (real estate owned by lenders) won’t be in the market until 6 to 9 months after the first missed payment. With the number of the homes potentially going thru foreclosures and downsizing of the banks, I won’t be surprised that the foreclosure process will take a whole year. Therefore, the housing supply situation will probably be very bad in mid-2012 (1 year from the peak resets in mid-2011) until first quarter of 2013. If you add 6 to 9 months on top to the mid-2012 for the time to sell a REO, there will NOT be any real recovery until 1st or 2nd quarter of 2013.

For the people who are looking to buy, the major bulk of the price declines should have happened by 3rd/4th quarter of 2012 or earlier. I believe that there is still a potential 15% to 20% downside from the current prices. If you’re looking forward to invest, there is just no reasons that you should put your money in a potentially sinking boat.

Interestingly, from Martin Armstrong’s economic confidence model, the credit cycle probably will bottom near July of 2011, which is consistent with the above timeframe. The above date probably will coincide with a bottom in the financial stocks (or the stock market for that matter) will certainly occur first probably with a minimum lead time of 9 to 12 months ahead of the actual housing bottom.

With an inflation rate that is probably going to be higher than normal going forward, a low Fed rate will not be helping much on the mortgage rate either. For those housing bulls who think that a low Fed rate will come to rescue, they don’t understand that an initial teaser rate at 1% (while the long term rate was still at 4.5% or above) will most likely NEVER come again. Since long term rates will most likely go higher due to heightened inflaiton, mortgage rates will be higher too. That certainly won’t help the housing prices.

My Market Based Solution To The Housing Market Mess

I think few people realize that America/the world is facing the biggest financial storm ever, and how dangerous it is for investing in stocks before a full implosion. The housing-induced credit crisis has gone far beyond anyone can potentially control, probably not even the Fed.

Reading over so many current/future proposals from politicians and bloggers, I have my own thoughts in this. For sure, there simply isn’t a solution without pain. But there can certainly be solutions that are more fair and less pain.

One of the most fair and easiest way to help propping up the housing market is to subsidize all the buying or holding cost for primary residences. Instead of helping on the sell-side directly, the government can help the buy-side. Of course, the subsidy will indirectly go into sellers. But the solution is market-based.

Why is this a fair solution? For sellers, there is simply no direct bailout. For anyone who chooses to buy, the buying decision is done on the open market where everyone else is competing on the same ground with subsidy, and existing real estate investors will also be helped with a more stable housing price. For any renters who choose not to buy and take up the subsidy, their decision is solely of their own based upon their evaluation of the current housing market and personal circumstances.

What kind of subsidy will make sense? The easiest way is certainly done through mortgage interest reduction or tax deduction. The tax deduction cannot be limited by the amount of adjusted gross income, and has to be actually beneficial on top of the existing standard deductions. By reducing the overall housing cost, government will encourage more of it, and prop up the housing market.

Since 65% to 70% of the Americans are home owners, most of this housing aid will effectively become a tax cut for middle class. I suggest that 50% of the total amount of both property tax and mortgage interest from primary residence can be used as a tax credit (rather than tax deduction in the itemized section). Here are some examples of the housing aid scenarios, with loan interest at 6%:

1. $700K home in California with 20% down for someone with tax bracket at 28%:
Because loan amount is $560K, the interest is $42K a year, and the additional tax subsidy amount will be roughly (50% – 28%) * $42K / 12 months = $616 a month. This monthly subsidy will effectively lower the interest rate from 6% ($3357) to 4.25% ($2755). That will be a tremendous stimulus.

2. $500K home with 20% down for someone with tax bracket at 15%:
The additional tax subsidy amount will be roughly (50% – 15%) * $500K * (1-20%) * 6.00% / 12 months = $700 a month. This monthly subsidy will effectively lower the interest rate from 6% ($1852 payment) to 3% ($1686 payment). This is an even better deal for lower income people.

Effectively speaking, this tax cut will target middle-class home owners specifically. Using the assumption of a median home value of $240K, and an average tax bracket of 15%, this tax aid comes to be about $4032 dollar per family household, 110 million US households, with 70% home owners, it will be about $300 billion annually. I’m not going to re-do my numbers here, but probably instead of 50%, one could go for 40% of the interests as tax credit. This will adjust this bill from $300 billion to about $214 billion. I hesitate to go to much lower, simply because in California, where most of the housing problems are, you have to be at 25% to 28% tax bracket to afford the homes. Since one is already getting existing tax benefits at 25% to 28% through itemized deduction, the 40% as tax credit will only give 15% to 12% additional benefit.

Bottomline, this printing of tax money will be truly the best way of distributing the helicopter money, since it goes to the homeowners directly without discrimination, AND it is also tax-progressive. The rich who has a bigger loan do get a lot more, but only because they are paying a lot more for their home. But the middle class will not be left out at all, and will enjoy the biggest piece of the tax reduction. This will effectively encourage home purchase/consumption, and props up housing market. The solution is also market-based without ANY bailouts to those people who abuse the mortgage markets.

In respect to Republican tax position, this is a market-based solution. In respect to Democrat tax position, this is a tax aid for most of their incumbents. In respect to stock markets and US economy from Keynesian economics, this is a huge positive. Tax cuts stimulate economy. On the other hand, money from direct taxpayer bailouts go into the pockets of these fraudulent bankers and homeowners, and continue to encourage moral hazards and speculation.

Frugal at 1stMillionAt33.com

California Foreclosure Up And Up

Here is some of the latest real estate headline news:

1. Home builders’ confidence falls to 16 years low.

2. Notice of defaults in California up by 23% from last quarter, and up by 148% from last year.

3. New Century goes bankrupt, slimming down from 6000+ employees down to 100+ people, right at Irvine, Orange county, the center of the mortgage fraud so to speak (Impac, Ameriquest, Resmae, Option One are all here).

4. California new home sales down 37% on an annual basis. Slowest total March sale since 1997. You got to remember one thing that if the absolute number of sale is worst than 1997, it is actually much worse than 1997. In these 10 years, California has been growing population at about 1.5% annually. Normalizing the real estate sale by population, the sale would actually be 14% worse.

I have been saying that the bottom of the bubble zone of real estate won’t come until after 2009/2010, which I have arrived by adding 5 years (before negative ARM gets fully amortized) to 2004/2005, plus 1 extra year of time delay for a home to go through the entire foreclosure process. Jim Puplava said in his online radio that he expects the bottom to come at about mid-2008. I personally think that real estate market is still in the denial stage, where sellers are not willing to drop price. That attitude will really take time to change, until the home owner/mortgage holders get burned through monthly negative cashflow for an extended period like 1 to 2 years. If the amount of price drop is more than 2 years worth of the negative cashflow, sellers are more likely to hold out than cutting price.

I didn’t need a chart to convince myself, but above (click to enlarge) is the mortgage resetting “map” going forward. As you can see, the subprime mortgages are not flushed out yet and coming to reset in volume later this year. The next bigger wave is the 5-year period from the loan origination, which will come in 2010 through 2012 for the option ARM. If you use 9 to 12 months for the foreclosure process, the real estate market is likely to have a small break in 2010 before getting hit by mortgage reset again.

I think that the only way to stop the housing deflation is through inflation of everything else. I expect the real inflation (not the one published by government to stay above normal for an extended period.

The Best Real Estate Mutual Fund Ever

For me to come out and recommend a real estate fund, you know this mutual fund needs to be more than truly outstanding. I’m very bearish on real estate as the regular readers know very well. But this real estate fund, plus its other fund offerings in other categories are simply outstanding. In fact, I should say that it is one of its kind, so outrageously probabilistically impossible.

I first noticed this mutual fund back in year 2002/2003, when I was studying various funds for asset allocation. Certainly, real estate must be an essential element to anyone’s portfolio, especially if you don’t own your home. At that time, I noticed that this fund had a very good performance record. Not only that, when I compared its major holdings with other real estate funds, its holdings are wildly different. Most real estate funds hold companies that hold residential or commercial rental properties, collecting rents to produce their yields. This fund however held mostly home builders. Well, from year 2003 to 2005, home builders had great returns, probably out-beating 80% of the stock selections that you can ever pick yourself. But today’s CGMRX holding has not even a home builder stock in its top ten holding, keeping its 20% annual return for the past ten years completely intact.

The fund manager Heebner of this fund company Capital Growth Management is no doubt a VERY smart investor. Here are some highlights of his recent words:

[On housing markets] It will be the biggest housing-price decline since the Great Depression,’’ Heebner, 66, said today in an interview in Boston. Prices may fall by a fifth in some markets….That would leave home prices at levels last seen in 2003 and 2004, the middle of boom that lifted prices to a record in 2005. The damage from high-risk mortgages will slow the U.S. economy, though not enough to send it into a recession….
[On financial brokerage stocks] The investment banks and brokerage firms that package and sell these products won’t get hurt because they have passed on the biggest risks to the investors, “They know the product is toxic; they’re not going to get caught,’’
[On mining, China, infrastructure plays] He is buying shares of mining companies that benefit from growing infrastructure needs in India, China and Russia. CGM Realty Funds also holds shares of Las Vegas Sands Corp., the casino operator that is developing real estate in Macau, China, and Mexican homebuilder Desarrolladora Homex SAB.

On very few occasions, you can witness such a smart investor. Keep him on your list to watch. Take his words and regurgitate during your contemplation. And if you really have to buy a real estate fund, CGMRX is probably one of the better choice. In this particular case, I would really say “FORGET about the low fee Vanguard”. Here is the comparison chart between VGSIX and CGMRX. Don’t use Yahoo to plot because Yahoo plotting doesn’t take into account the almost 20% capital distribution/dividends in the last couple of years by CGMRX. The following plot uses the price on 12/31/1996 as 1. CGMRX returned almost 7 times or 700% in the last 10 years. (I mispelled CGMRX as CMGRX in the chart.)

On the last note, CGMRX and its other offering are mostly concentrated bets and non-diversified. You will be taking higher than normal risk when you buy one of his funds due to its concentrated bets. But given its past record, although there is no guarantee for the future, I would probably still lean towards buying any CGM funds.

I currently have no holding, but I’m really going to seriously consider CGM funds (not necessarily CGMRX), especially after I’ve missed the entire ramp-up in the most recent real estate bull market (which has probably turned into a bear market already).

Its CGMFX Focus Fund returned 24.7% from 1/3/06 to 4/9/07, and 17.9% from 1/3/07 to 4/9/07, very good this year, but not so good last year. This uncorrelation to the general market is an excellent choice for asset allocation.

Carnival Of Real Estate

Welcome to the carnival of real estate, hosted at 1stMillionAt33. There are over 30 entries. Plenty of readings for anyone interested learning more about real estate. The entries are listed mostly in the submission order by the categories. Please check out the articles that interest you.

My personal pick of the week for carnival of real estate is Timeshares: Good Investments or Travel Scam? from Queercents.

TheLandJournal.com presents Rural land pricing will never look this good again to buyers, expect huge sales.

Getting Green presents The Many Faces of Mortgage Fraud & Rip-offs.

Investment Property Insider presents A Roadmap For Commercial Real Estate Syndication, Part 1.

Aridni presents Real estate that saves your wallet, but not much more.

Searchlight Crusade presents Vampire Properties.

Realty Thoughts presents Niche Real Estate Blogs.

YoChicago today presents Olympic Village is coming to Chicago, games or no games.

Chicago’s Home Weblog presents Urban Legend, The Top 10,000.

The Real Estate Guide presents Don’t Try To Time The Market.

investing

Dorky Dad presents Trying to get it right: Ben Stein is wrong about Real Estate Investing.

Queercents presents Timeshares: Good Investments or Travel Scam?.

BloodhoundBlog presents The Right Time to Buy: An Investor Perspective. With interest rates creeping up and home values creeping down, is now the time to make a large purchase?

RealProspex presents Commercial real estate buyers: 8 ways to find the right deal without searching

real estate market

Yahoo! Search blog presents Home Search Update Now with Schools.

Moneywalks presents 5 common homebuyer mistakes you want to avoid.

Big Time Real Estate Listings presents Rocker David Grohl buys 3rd home in Oxnard.

1SiliconValley.com presents How Much House Can I Afford? (Part 2 of 2).

No Down-Payment Home presents No Down Payment Home – How I Did It.

Leslie Pandey at Zillow Blog presents Hollywood’s Heartbreak Homes.

Salt Lake Real Estate Blog presents Housing Panic Disingenuous?.

Reasoned Audacity presents Are Children at Risk in Red States?

360Digest presents Shack Prices, referral fees, cherries and designer dresses…

1031 Exchange Lowdown presents 77 Surefire Ways to Increase Your Home’s Value.

real estate professionals

Mike’s Corner Web 2.0 For Real Estate Pros presents How Podcasting Impacts Local Search Relevancy.

Altos Research Real Estate Insights presents MeeboMe as Killer Real Estate Marketing Tool. Instant Customer Service & Lead follow up with Meebo

Real Estate Convergence presents Housing Glut Gives Buyers Upper Hand.

Mortgage Home Loan and Real Estate News presents Mortgage Loans presents: Mortgage Loan Shopping: LendingTree, E-Loan or Quicken Loans?

Renthusiast presents BrightSale defines what it means to be 2.0. Online Estate Agents BrightSale.co.uk give their definition of a 2.0 value system and why they feel ready to change the way the UK buys and sells property.

MiOaklandCounty.com presents The Answer to Everything Can Be Found On The Internet!!

Mike’s Corner Web 2.0 For Real Estate Pros presents Interview: Ken Brand – Exceptional Leadership Through RE Blogging.

The Most Opinionated Mortgage Broker presents Wanna be a Trust Deed Broker?

Clifford Jacobson presents Real Estate 2.0: High Tech, High Touch, or High-Tech Touch? Thoughts for Agents about Real Estate 2.0, High Tech and High Touch.”

Overseas Properties presents Bets on Brazil property as future favourite.

Transparent RE.com presents Cyberhomes and its future.

Thanks to all those who have participated in this carnival. Past posts and future hosts can be found on our blog carnival index page.

Carnival Real Estate (01-29-2007)

Welcome to the carnival of real estate, hosted at 1stMillionAt33. There are over 30 entries. Plenty of readings for anyone interested learning more about real estate. The entries are listed mostly in the submission order by the categories. Please check out the articles that interest you.

My personal pick of the week for carnival of real estate is Timeshares: Good Investments or Travel Scam? from Queercents.

TheLandJournal.com presents Rural land pricing will never look this good again to buyers, expect huge sales.

Getting Green presents The Many Faces of Mortgage Fraud & Rip-offs.

Investment Property Insider presents A Roadmap For Commercial Real Estate Syndication, Part 1.

Aridni presents Real estate that saves your wallet, but not much more.

Searchlight Crusade presents Vampire Properties.

Realty Thoughts presents Niche Real Estate Blogs.

YoChicago today presents Olympic Village is coming to Chicago, games or no games.

Chicago’s Home Weblog presents Urban Legend, The Top 10,000.

The Real Estate Guide presents Don’t Try To Time The Market.

investing

Dorky Dad presents Trying to get it right: Ben Stein is wrong about Real Estate Investing.

Queercents presents Timeshares: Good Investments or Travel Scam?.

BloodhoundBlog presents The Right Time to Buy: An Investor Perspective. With interest rates creeping up and home values creeping down, is now the time to make a large purchase?

RealProspex presents Commercial real estate buyers: 8 ways to find the right deal without searching

real estate market

Yahoo! Search blog presents Home Search Update Now with Schools.

Moneywalks presents 5 common homebuyer mistakes you want to avoid.

Big Time Real Estate Listings presents Rocker David Grohl buys 3rd home in Oxnard.

1SiliconValley.com presents How Much House Can I Afford? (Part 2 of 2).

No Down-Payment Home presents No Down Payment Home – How I Did It.

Leslie Pandey at Zillow Blog presents Hollywood’s Heartbreak Homes.

Salt Lake Real Estate Blog presents Housing Panic Disingenuous?.

Reasoned Audacity presents Are Children at Risk in Red States?

360Digest presents Shack Prices, referral fees, cherries and designer dresses…

1031 Exchange Lowdown presents 77 Surefire Ways to Increase Your Home’s Value.

real estate professionals

Mike’s Corner Web 2.0 For Real Estate Pros presents How Podcasting Impacts Local Search Relevancy.

Altos Research Real Estate Insights presents MeeboMe as Killer Real Estate Marketing Tool. Instant Customer Service & Lead follow up with Meebo

Real Estate Convergence presents Housing Glut Gives Buyers Upper Hand.

Mortgage Home Loan and Real Estate News presents Mortgage Loans presents: Mortgage Loan Shopping: LendingTree, E-Loan or Quicken Loans?

Renthusiast presents BrightSale defines what it means to be 2.0. Online Estate Agents BrightSale.co.uk give their definition of a 2.0 value system and why they feel ready to change the way the UK buys and sells property.

MiOaklandCounty.com presents The Answer to Everything Can Be Found On The Internet!!

Mike’s Corner Web 2.0 For Real Estate Pros presents Interview: Ken Brand – Exceptional Leadership Through RE Blogging.

The Most Opinionated Mortgage Broker presents Wanna be a Trust Deed Broker?

Clifford Jacobson presents Real Estate 2.0: High Tech, High Touch, or High-Tech Touch? Thoughts for Agents about Real Estate 2.0, High Tech and High Touch.”

Overseas Properties presents Bets on Brazil property as future favourite.

Transparent RE.com presents Cyberhomes and its future.

Thanks to all those who have participated in this carnival. Past posts and future hosts can be found on our blog carnival index page.