This your wake-up call!

by Arnie Levine on March 23, 2014

in Latest News,Vacation Ownership

As you know from my blogs, I am a cancer survivor. To me, life is precious yet short. This is not a dress rehearsal.

When times are tough, you cut the nonessentials which can disconnect you from life itself.

After all, precious time spent with family & friends mean the most.

Why not live a rich man’s dream on a working man’s dime?

Contact me if you are interested in learning about a new addition to my professional services -

The world of vacation ownership.

You can experience a 5-star quality life style where you want it when you want it.

Vacation Ownership

We would love to hear from you! Please fill out this form and we will get in touch with you shortly to schedule an appoinment.

Here is an informational video providing an introduction series to bankruptcy and or home foreclosure alternatives for you. I personally recommend Attorney of law Joe Marcarell too all my clients that’s in these services:
Marcarelli Law Group – Chapter 7 Basics, #4

Please contact Attorney of law Joe Marcarell directly if you have any topics that you would like us to discuss, or if you would like to talk about any business or personal bankruptcy issues. Please fill out the from below to receive a prompt response.

If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so.

Please call and ask for Real Estate broker Arnie Levine 619 540-5811 or fill out the form below.

*Realtors are not tax attorneys or accountants. We do not give legal or tax advice, please, always seek the advice of your tax attorney/accountant.

Bankruptcy and legal forclosure alternatives

Fill out the form below to get a free legal consultation with Attorney Joe Marcarelli All Information is kept confidential.

GSE reform needs to consider mortgage finance more

The primary role of Fannie Mae and Freddie Mac is to issue mortgage bonds.

We seem to have forgotten that.

Yes, the government-sponsored enterprises became used as tools of housing policy, but let’s not confuse that with mortgage finance.

But confused I think we are.

The reason I bring this up is that after reviewing what little information is available on the Johnson-Crapo bill coming soon in the Senate, the most glaring omission is information of how the mortgage bond markets will operate after winding down the government-sponsored enterprises.

Oh, there is down payment guidance. And there are private insurance investment standards there, as well. It earned the support of trade groups, but has investors worried. Why?

What hardly gets a mention, and to me is the most glaring, is how the To-Be-Announced market will function in the absence of the two bond dealers that fill this highly liquid $10 trillion space.

What’s happening here is a reinforcement of the need to stop using secondary mortgage market issuers as tools for housing policy.

This is likely why the Johnson-Crapo bill calls for an elimination of affordable housing goals. If this works, the multifamily asset class introduction into risk-sharing deals would increase financing for renters.

Compass Point earlier gave the Johnson-Crapo bill a less than 5% shot of becoming law.

Rep. Maxine Waters applauded the bipartisan support, but also give it an even lower chance.

“Without a reasonable proposal that can be supported by a broader coalition of the House, housing finance reform is going nowhere this year,” Waters said in an email.

It’s just as well; TBA investors still need better answers

 dave rev pic   David Murdock is originally from Syracuse, New York. He received a Bachelor of
Science degree in Business Administration from San Diego State University.
He has over 30 years of experience in the leasing and sale of apartments and
commercial properties, and has leased or sold well over 2,000,000 square feet
of these properties. As the director of County Properties Commercial division,
he continues to specialize in the leasing and sale of apartments, retail, office and
industrial properties throughout San Diego County.He notes that with today’s technology, he is able to provide the same or greater level of service in professionally meeting his clients needs as the large commercial brokerage
companies. He is the proud father of two daughters and one son, and the
grandfather of two boys. David’s passions are golf, hiking, travel, and reading.

 David Murdock
Broker Associate

Director of Commercial division

  Contact Me

CA Bureau of Real Estate (BRE) # 00973512

Contact - Commercial Real Estate

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Enter Property For Value Wizard Report

The first and most important part of selling your property is knowing how much it is worth by comparing it against other sales in your area. The form below will allow you to order a Value report that lists the recent sales compared against your property in order to start the valuation process.

New Pro-Commercial Property Search. We will setup a customized search for you by our professional REALTOR® Team. Sit back relax and shop at home! We will make changes to your Pro-Property Search any time you like, just let us know. Have fun!

2014 Commercial Real Estate Outlook

by Arnie Levine on March 13, 2014

in Commercial Real Estate

This report was developed and summarized based on extensive research by, National Association of Realtors and Deloitte LLP.

RESIDENTIAL  The emergence of the rental segment has provided much needed support to the housing market.  Institutional investors continue to increase their appetite for purchasing and renting homes.  One of the most positive changes is that average home prices are back to spring 2004 levels.  First time home buyers have also stepped up purchases.  Entry level buyers account for 39% of purchases.  Another bright spot of the single family market is a modest improvement in the residential mortgage market.  The bottom line,  most parameters point to a recovery, however, the overall housing market still lags the stable market during 1990′s.

MULTIFAMILY  The apartment sector continues to post a strong performance, vacancy and rent growth  are near historical levels.  The following  provides insight as to strong and weak performing employment markets also vacancy rates both high and low.  Finally, High Yield Markets with five year average Capitalization rates, demonstrating the rate of turn in markets where there is additional risk.

Markets with the Highest Expected 2014 Employment Growth

Austin 4.5%, Houston 4%, Denver 3.9%, Salt Lake City 3.8%, Dallas 3.7%, Orlando 3.6%, Louisville 3.4%, Palm Beach 3%, Fort Lauderdale 3%, Portland 3%, U.S. 3%.

Markets with the Lowest Expected 2014 Employment Growth

Cleveland 1%, St. Louis 1.4%, New Haven 1.4%, Detroit 1.6%, Boston 1.7%, Philadelphia 1.7%, Kansas City 1.8%, Chicago 1.8%, Washington DC 1.9%, Milwaukee 1.9%, US 2%

Markets with the Lowest Expected 2014 Vacancy Rates

New York 2.4%,  Oakland 2.6%, Miami 3.2%, Minneapolis 3.4%, Portland 3.6%,  San Diego 3.6%,  San Jose 3.7%, Chicago 3.8%, N. New Jersey 3.8%, Pittsburgh 3.8%, U.S. 4.8%

Markets with the Highest Expected 2014 Vacancy Rates

Indianapolis 9%, St. Louis 7.8%, Las Vegas 7.7%,  Atlanta 7.6%,  Houston 7.6%,  Jacksonville 6.9%,  Phoenix 6.8%, San  Antonio 6.2%,  Tampa 6.2%, Palm Beach 6.1%, U.S. 4.8%

 

High Yield Markets

The following are Five-year Average Cap Rates, representing returns for investors based on net income.

Detroit 10%,  Cleveland 9.3%, Cincinnati 9.2%,  Pittsburgh 8.8%,  Jacksonville 8.5%, Indianapolis 8.4%, Columbus 8.3%, Louisville 8.3%, Dallas 8.2%, Atlanta 8%

Office

New development activity is insignificant.  Focus is on a desire to reduce rental expenses through efficient space utilization which will likely result in lower demand for physical space. Vacancy Rate 2014 15.7% forecast 2015 15.5%

Industrial

Rent growth inched up 2.6%.  Vacancy also improved attributed to e-retailers and their shippers leasing more warehouse space with the increase in online shopping.  Evidence of this is the announcement Staples will close 225 stores reflecting 50% of their business is done on line today.  Vacancy Rate 2014 8.9% forecast 2015 8.7%

Retail

Effective rents declined .3 percent.  As retailers’ store sales and margins continue to be impacted by the rise in internet sales, they remain cautious about expanding brick and mortar stores.  Retail real estate development activity is at a record low. Consumer spending is likely to support overall retail sales.  Vacancy Rates 2014 10.0% forecast 2015 9.8%

Lending

Financial institutors continue to support this market with competitive interest rates and loan programs.  Typically the most competitive commercial programs are in metropolitan areas while the more remote locations with fewer financial institutions competing for business offer higher rates usually anywhere from 1/2% to 2% and with amortizations for 20 years as opposed to 30 years in metropolitan areas.  Commercial lending has been able to perform well in this economy due to the fact that the underwriting of loans never suffered the issues facing the residential market.  Residential lending today  is mostly FNMA/FHLMC and FHA, few banks have a portfolio product to offer.  The regulatory Dodd/Frank legislation is having some impact with minimum qualifying standards.  The bells and whistle products of the past such as,  stated income for self employed (for financially strong borrowers who can write off tax deductions not available to salary workers) and other bank portfolio programs left the market, in the past they represented as much as 40% of new  loans.  No doubt today’s housing market is far from where it was years ago, where borrowers had more financial programs to choose from and the market was vibrant.

FHA Wants to Help Put You Back into a Home!

by Arnie Levine on March 13, 2014

in Finance

You the Borrower may qualify for a home loan in as little as 12 months if they experienced a bankruptcy, preforeclosure sale, deed-in-lieu, short sale, or foreclosure due to a qualifying economic event.

Required Documentation:

  • Adverse credit impairments were the result of a Loss of Employment or a significant loss of Household Income beyond the borrower’s control.
  • The borrower has demonstrated full recovery from the event
  • The borrower has completed housing counseling.

Real Estate Property Tax Due Dates

by Arnie Levine on March 13, 2014

in Real Estate news

November 1st - First Installment Due
Covers the tax period from July 1st to December 31st.
December 10th - First Installment Becomes Delinquent at 5pm
10% penalty added to taxes due. If December 10th falls on a weekend or holiday, taxes are not delinquent until 5pm on the next business day.
February 1st – Second Installment Due
Covering the period from January 1st to June 30th.
April 10th – Second Installment Becomes Delinquent at 5pm
10% penalty added to taxes due. If April 10th falls on a weekend or holiday, taxes are not delinquent until 5pm on the next business day.

Bubble fears, Chinese buyers abound in key locales.

homepricesup

Home prices in Southern California, home to some of the worst craters in the housing crash, is coming back – at least in some places.

In some corners of the Southland, it’s as if the housing crash never happened.

Home prices in a dozen Southern California ZIP Codes have passed their peaks during the housing bubble, according to research firm DataQuick. Most are either in the San Gabriel Valley, a magnet for buyers from Asia, or on the Westside, where the technology industry is booming.

Across the region, home prices remain far below their peaks despite an explosive run-up in the first half of 2013. But nominal prices in some affluent neighborhoods have entered uncharted waters.

The return of bubble-era pricing could foreshadow a spillover effect, experts said. As buyers get priced out of prime areas, they may look to adjacent neighborhoods — juicing demand there and pushing up prices.

“A lot of the action is at the higher end of the market,” said Christopher Thornberg, founding partner at Beacon Economics. “That is what is driving the show.”

Source: LA Times

A Senate proposal for winding down Fannie Mae and Freddie Mac slammed the share prices of the two government-owned mortgage agencies over the last two days, but big investors aren’t running away yet.

Shares of Fannie and Freddie fell 12 percent and 17 percent, respectively, on Wednesday [March 12], one day after Senate Banking Committee leaders agreed on a framework for a bill to draw down the lenders.

The sharp decline has hit big-name hedge funds, which jumped into the once-failing companies as the housing market rebounded. These include William Ackman‘s $12 billion Pershing Square Capital Management, Fannie Mae’s biggest shareholder.

Despite this week’s losses, several investors said they plan to stay the course, acknowledging that they were aware they had invested in such volatile stocks.

Senate Banking Committee Chairman Tim Johnson, a Democrat, and Senator Mike Crapo, the panel’s top Republican, outlined a framework for legislation on Tuesday [March 11] after months of talks that included input from the Obama administration. They said they intended to introduce a bill soon.

But several hedge fund managers, which often lock up their wealthy investors’ money for years and therefore have the ability to stick with investments for a long time, said they would be patient and wait.

“There are a lot of details to be worked out, and there was no secret that Congress was planning to do this,” said one investor who owns hundreds of thousands of shares and asked not to be identified by name.

Fannie Mae’s share price fell 49 cents on Wednesday to $3.54 a share on 124 million shares traded on OTCMarket. Freddie Mac ended down 68 cents at $3.36 a share on volume of 61 million shares.

Fannie and Freddie, which own or guarantee 60 percent of all U.S. home loans, provide a steady source of mortgage funds by buying loans from lenders and packaging them into securities that they sell to investors with a guarantee.

Their central role in the mortgage market led the government to bail them out to the tune of $187.5 billion during the 2007-2009 financial crisis. Lawmakers want to make sure taxpayers are never on the hook again.

Bruce Berkowitz of Fairholme Capital Management objected to the plan to wind Fannie and Freddie down. His fund ranks as one of the three shareholders in each company.

“What happened before 2008 was the result of regulatory and management failures, accelerated by political meddling. These failures continue today,” Berkowitz said.

“Privately owned Fannie Mae and Freddie Mac are irreplaceable. All the sincere effort expended by the Senate Banking Committee simply confirms that there is no better alternative,” he said in a statement.

Other large investors include Capital Research Global Investors and Seamans Capital Management.

Pershing Square has been largely mum on its Fannie and Freddie investment, with Ackman declining to answer questions about it at an investment conference where he discussed every other bet.

Investors like Ackman, who shorted Fannie and Freddie six years ago, are essentially making a political bet. In addition to anticipating that politicians’ plans might be changed significantly, there is something else that keeps them optimistic: lawsuits filed by both Fairholme and hedge fund Perry Capital.

The investors argue that it is illegal for the government to take all the companies’ profits. Some investors expect the lawsuits to prevail and for billions of dollars to eventually come back to the companies.

Indeed, Republican Senator Pat Toomey of Pennsylvania, in a letter Friday [March 7] to U.S. Treasury Secretary Jack Lew, signaled support for getting some cash to Fannie and Freddie shareholders. Toomey said he wants legislation to be “mindful of investors in addition to other considerations.”

Shares of Fannie and Freddie are both down more than 30 percent on the week, not long after both hit their highest levels since 2008.

February’s rally in the shares helped Pershing Square gain 7.4 percent, putting it up nearly 12 percent on the year, handily beating the average hedge fund’s 1.4 percent gain, investors in his fund said. Pershing owns 115 million shares of Fannie and 64 million of Freddie.

This month’s losses on Fannie and Freddie are going to hurt Ackman’s fund.

“His marks are going to stink for the month,” said David Tawil, whose Maglan Capital invests in distressed securities. He said his fund might buy stakes in Fannie and Freddie after lawmakers’ language on the proposal is clarified.

Even though the proposal seems to harm equity holders, investors in Freddie and Fannie debt could come out winners.

The difference in yield on Fannie Mae and Freddie Mac bonds over Treasuries shrank broadly on Wednesday, on the view that the Senate plan would assure the government’s guarantee of their existing debt. The yield gap between five-year Fannie Mae notes due February 2019 over five-year Treasuries narrowed 0.005 percentage point to about 0.15 percentage point.

 

County Properties wishes you a Happy New Year

by Arnie Levine on December 26, 2013

in Current Affairs

  Untitled

Did you know:

The tradition of New Year resolutions originated about 4,000 years ago when the ancient Babylonians used them as a way to begin the year with a clear conscience, usually by returning borrowed items.

The song “Auld Lang Syne” — meaning “old long ago” — is sung at the stroke of midnight to celebrate the start of the New Year in almost every English-speaking country in the world. The word “syne” is pronounced like the word “sign.” The song is an old Scottish folk lyric modernized by the poet Robert Burns in 1788.

The first ball drop in New York’s Time Square was in 1907. The ball was five foot wide and included 100 25-watt bulbs. The current New Year’s ball is a 12-foot-wide geodesic sphere encrusted with 32,256 super bright LEDs.

By the way…if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I’ll be happy to follow up and take great care of them

At County Properties we wish you a Happy, Healthy and Prosperous New Year!
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