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Real Estate Outlook: Gains Versus Gloom
When even the Case-Shiller index, which ranks as the gloomiest of all the measures of house price movements, starts reporting gains then you know something is stirring out there in real estate.
In its latest monthly survey, Standard & Poor's Case-Shiller index found prices up in a number of key markets: Dallas prices gained 1.7 percent, Denver 1.5 percent and other cities -- Washington DC, Seattle, San Francisco, Atlanta, Boston and Cleveland -- registered smaller increases.
Nationally, the Case-Shiller index came in slightly negative for the month overall, as did the Federal Housing Finance Agency's home purchase price index.
But even the most bearish researchers now agree: Prices are bottoming out, even in some of the hardest-hit areas.
Home sales are also up in many local markets, sometimes dramatically so. Take metropolitan Phoenix. According to the latest MDA DataQuick survey, sales in the Phoenix market grew at their fastest pace in two years during May.
Resales of detached houses were up by 56 percent over year ago levels, and condo sales were up by 30 percent.
Even prices in the Phoenix area, a market still weighed down by a high percentage of distressed sales and foreclosures, gained by 3.5 percent in May over April levels.
That's an important turnaround, but the sobering fact is that even with that gain, prices in Phoenix are still down 38 percent compared with the same period in 2008.
Other important developments this week pointing to improvements in the housing sector:
•Mortgage rates continue to drop, and are now approaching the lows we saw a few months back. According to the Mortgage Bankers Association, average 30 year fixed rates hit 5.3 percent last week-the third straight weekly decline. Fifteen year fixed rates already have pushed below the 5 percent mark - and averaged just 4.8 percent last week.
•Consumer sentiment, as measured by the University of Michigan's survey, was up slightly again, with more consumers indicating confidence in making “big ticket” purchases, which of course include houses.
Now none of this is to suggest that real estate is in great shape and happy days are here again.
That's not the case -- not with hundreds of thousands of workers losing their jobs every month and the national unemployment rate projected to approach 10 percent. And not with lenders continuing to impose tough credit and underwriting standards on all home purchase mortgage applications.
But after so many months of negative news, we think it's important to acknowledge the positive signs popping up on home sales, pricing and interest rates - even if we still have a long way to go to full recovery.
Buddiee18, thanks for all your participation in the board.
DEBT??? ...WHAT....debt ???
by: buddiebuddiee
Long-Term Sentiment: Strong Buy 10/05/05 10:53 am
Msg: 731510 of 731656
As I explained last night, the process whereby the banks defraud their clients, the People is very simple. It starts with a simple loan application, a transaction intended to solicit the people's signature on a piece of paper. The banks would like to call this transaction a contract, an agreement, but we all know that such a transaction can never be a valid contract because there are several things missing. Firstly, there is only one signature in this piece of paper - yours. Secondly, there is no disclosure; third, no valuable consideration, no meeting of the minds.
Anyways, to cut to the chase, money is created at the instant you put your signature on that piece of paper. That paper becomes a promissory note because it has all the elements of a valid bill of exchange; it has the amount, to whom it is payable to, and when it must paid. That piece of paper becomes a receivable to the bank which they then deposit into their account and that's what they do. They deposit your promissory note as an asset. Pursuant to the Bills of Exchange Act, the banks are supposed to keep your promissory note as collateral in case you default, but as I have already explained it, they don't. Instead of keeping them, they sell them.
These promissory notes then becomes commercial paper which are pooled together to form asset-backed securities or derivatives. These securities are then sold in the open market. Further on, these securities are again pooled once more and they turn them into bonds which are then sold in the bond market. More interests and profits are artificially generated each time these securities and bonds, which are really nothing but IOUs are circulated.
So out of that piece of paper with your signature on it, the banks multiply their profits many many times. They have in essence been paid many many times for the purported loans which they fraudulently create by virtue of that piece of paper created by you when the fact is, as we all know it, you did not receive a single penny out of the "loan". All you got was a bunch of numbers and zeros created by computer entry which they call a loan that now obligates you to pay interests.
However, as I explained too, the fact that the banks no longer have the paper that you signed, all that remains are badly smudged photocopies of the original "contract", the banks really do not have any contract with you. Pursuant to the Bills of Exchhange Act, the bill, or the contract, which is the promissory note must be presented to the maker once it's due by the holder in due course. But there is no holder in due course after these IOUs have been converted to securities and bonds. The banks have nothing to present because they have already sold these notes; they have been prepaid. And this is good for those who are fighting the banks and their collection agencies. All we need to do is demand a certified, verifiable copy of the contract, bill of exchange, promissory note, or what have you, and they will fail to produce these notes. Therefore, no contract, no debt. They're screwed. Well, not really, because they have already made a lot of money and they are not going to lose anything. The only reason why they go after us is so they can perpetuate the fraud. They act as though they are losing money when the truth is, they have already made lots of money by selling and buying these securities, derivatives, bonds, etc. to each other.
Technically, there is really no debt. There is no money and therefore how can there be any debtor or creditor when no loan ever took place?
I hope all these will be revealed to the people when the time comes.
John-R: Dempsey
The People vs The Banks
http://www.theclassactionsuit.com/
[NOTE the DATE of the post.lol...also NOTE Mr Dempsey's wrong in asserting: "All we need to do is demand a certified, verifiable copy of the contract, bill of exchange, promissory note, or what have you, and they will fail to produce these notes. -- ONLY the O.R.I.G.I.N.A.L. mortgage document/contract, etc MUST BE PRODUCED -- a copy/CERTIFIED copy is NOT acceptable!!!
fwd: RE: AIR SPACE OVER SQUAMISH NATION LANDS
Blair Lekstrom, Minister of Energy, Mines and Petro Resources
Farina Posta, Assistant to Blair Lekstrom
Randy Hawes, Minister for Mining
PO Box 9060, STN PROV GOVT, Victoria V8W 9E2
Greetings:
RE: AIR SPACE OVER SQUAMISH NATION LANDS
Further to our witnessed and recorded telephone conversation with your assistant Farina of July 6th, 2009 at 12:56pm, we confirm the following Statement of Facts.
This morning more than 8 helicopters flew over the residential areas of Mission and De Roche carrying large containers filled with? Natural resources - gold and other valuable minerals, archeology artifacts of ancient burial sites or the so called Swine Flu Pandemic bacteria that is released in a mist and then mixed in with the rain to subject people to BC Govt health department massive vacinne campaigns that kills with Baxter's lethal ingredients?
Since we do not assume or presume anything, we reserve a right to obtain answers to the following questions; What are in the containers of these helicopters? Why are they flying so low? Are the Ministers in a private contract with corporations who are stealing natural resources from the people living on Squamish Lands? Who is responsible for these contracts and what is the value of these contracts? Are you paying taxes on these contracts or is this a deliberate tax evasion contract through the stealth of the wealth from true hereditary owners? Were any hereditary leaders consulted when these helicopters were flown this morning?
We confirm that we have absolutely nothing to do with the fraudulent Squamish Band Council members who are the puppets working as slaves to a contract with INAC. We are sovereign and attach a copy of our Business Summary.
TAKE NOTICE THAT: any more flying of helicopters over Squamish Nation Lands without written consent from Siyam Kiapilanoq/CAPILANO will place you and your departments in debt of $9T hard lawful currency for each recorded helicopter carrying those containers. Pending debt is calculated at 9 x $9T = $81T hard lawful currency with a secured lien to forfeit the Named public civil serf-ant bonds by notification to the Queen and her Zion/Free Mason Masters.
You have 3 days to respond to these questions, failure to comply will result in an automatic debt without further notice and a lien against your name and agencies as an equitable remedy for fraud and theft for we know that you operate for a de facto Government that is controlled by the tax monarch Her Majesty the Queen in Right of CANADA through the state corporation of BRITISH COLUMBIA.
If you have any questions, please do not hesitate to call and govern yourself accordingly.
Hiyshka/thank you,
--
Siyam Kiapilanoq/CAPILANO, Leader for the Sovereign Squamish Nation Government
Dhelo Quete/RED JACKET, Ambassador for the SSNG
Irene-Maus: Gravenhorst-Kiapilanoq/CAPILANO, Economic Development for SSNG
Phone: 604-603-2103
[above...from an email forwarded to moi -- also there's an attachment -- but don't know how to attach it here]
Nafta Superhighway Returns From The Dead
Rick Perry set to push revamped agenda to sell freeways to foreign-owned private companies
and convert them to toll roads
by Paul Joseph Watson
.
Global Research, July 4, 2009
PrisonPlanet - 2009-07-03
The Trans-Texas Corridor, part of the NAFTA Superhighway projected to link the United States with Canada and Mexico as an integral cog of the North American Union, is back on the agenda after Texas Governor Rick Perry lied in claiming that the proposal was dead earlier this year.
The open plan to merge the US with Mexico and Canada and create a Pan-American Union networked by a NAFTA Superhighway has long been a Globalist brainchild, but fierce opposition to the plan from activists across the country has stalled the plan at least temporarily.
A key component of the NAU transport system was the proposed Trans Texas Corridor, a massive 4,000 mile network of highways that were to be sold to the Spanish company Cintra and operated as toll roads - creating a huge new tax on the American people which would be paid directly to a foreign-owned private company.
Texas Governor and Bilderberg invitee Rick Perry launched a PR stunt in January when he claimed that the Trans Texas Corridor was dead, when in reality as Jerome Corsi and others pointed out, the project was merely to have its name changed and its design slightly altered.
'Close examination shows Perry's declaration from Iraq involves yet more public relations efforts by the governor and TxDOT to defuse criticism from voters and reposition a hugely unpopular initiative by dropping the designation 'Trans-Texas Corridor,' or 'TTC,' while still allowing TxDOT to proceed with the components of the original TTC plan that had been scheduled for implementation now,” wrote Corsi.
Corsi's warning that the TTC was still very much in the pipeline has proven accurate with the news that the authority of the Texas Department of Transportation, TxDOT, will run for at least 2 more years with a fresh injection of $2 billion in state funds that will be allocated to new transport projects.
Using the cover of a special session of the legislature, Perry will push 'a measure that allows private companies to build more toll roads across the state,' according to the Houston Chronicle.
'Gov. Perry wants to get the legislature to reauthorize through 2013 the ability of Texas to enter into Comprehensive Development Agreements, or CDAs, with foreign developers to develop Texas highways under public-private partnerships,' Hank Gilbert, a board member with TexasTurf.org, or Texans Uniting for Reform and Freedom, told World Net Daily.
'We are fighting to defeat any attempt by Gov. Perry to extend CDAs,' he said. 'Without CDAs, TxDOT will have a difficult time getting foreign development companies to come into Texas to convert our freeways to toll roads.'
Perry's attempt to force through toll roads owned and operated by foreign companies as part of the wider agenda for a NAFTA Superhighway and a North American Union is a perfect example of how those in power try to neutralize dissent by pulling dirty tricks - claiming a project is dead and then simply renaming it and continuing with the same agenda.
However, the many activist groups opposed to the Trans Texas Corridor were well prepared for this bait and switch. The resistance to the agenda for a NAFTA Superhighway will now rally to fight Perry's move to sell off key infrastructure to foreign corporations, and in turn create a huge new tax for already financially battered Americans.
http://reality101blog.blogspot.com/
Lender Can’t Produce The Note? | Homeowner Foreclosure Defense
Written by FightForeclosure on Apr-5-09 2:17pm
From: how2fightforeclosure.com
Stop Home Foreclosure, Produce the Note Suggestions
If you have watched or listened to the News, I am sure you have heard the term “Produce The Note”
A growing number of homeowners around the country are using a foreclosure defense that has been kicked around since about June of last year. I want you to know that this defense and method of discovery is not just technicality that will be handled “ho hum” by your lender or by the Court.
You have to understand the importance of this subject.
When your lender can not “produce the note,” and the court to proceeds your foreclosure, it will put you at risk of owing that debt again to another party. The courts are being very conscientious with Lenders or Trustees claiming against you. You see, before a judge can allow any entity, who can not “produce the note on your home” to cash in on your home there has to be “standing” that apply to the case
So What Is The Result IF they Can’t Produce the Note?
If Your Lender (Plaintiff) tells the Court it can’t produce the original note, because it is lost?
Foreclosure Basics 101: If your lender wants to foreclose on your property, it has to be able to show that it is, in fact, they are the one to whom the money is owed. That right to foreclose belongs ONLY to the “Holder IN Due Course” and who has legitimate POSSESSION OF THE ORIGINAL NOTE
Not a copy, not an electronic entry, YOUR original note itself with your signature, because you allegedly owes them the money.
As I have written before, what are the odds that your documents were lost? Pretty good considering the securitization of loans that were broken up into stocks, bonds etc… ALSO considering tha fact that WELL OVER 82% OF ALL LOANS WRITTEN Between 2002 through 2006 and beyond HAD MISTAKES (TILA Violations) that your foreclosing Lender does NOT WANT YOU TO DISCOVER!
So if you are faced with a foreclosure, you have every right to demand that the company or entity trying to take your home, make them prove to the Court that it is “The Holder In Due Course” and that they have possession of the original promissory note. (while you are at it, get all of your closing documents in discovery, and really make them “Squeel!”)
Here Is What They MUST DO!
The lender Must prove according to The “Uniform Commercial Code” or UCC you will see this over and over while reading and researching. (UCC laws govern commercial transactions that many states, such as Florida, have adopted). It contains a specific provision on this subject (Section 3-309) which states that a person can enforce a promissory note without having the original, BUT only under certain limited circumstances. All of the following must be proven:
- The plaintiff has to claim that it no longer has the original note;
- The plaintiff has to prove that it was properly in possession of the note and had standing to enforce it WHEN they lost possession of the note; (they really try to do this!)
- The Plaintiff has to prove it didn’t “lose” the Note simply because it transferred it to someone else (it’s lost but…it’s not really lost)
- The Plaintiff has to prove that it cannot produce the original note, because the instrument was destroyed, or its whereabouts cannot be determined, or it was stolen by someone who had no right to it. (or that it was abducted by aliens)
All of this has to be proven by the person trying to foreclose on your home. It is your obligation as the borrower/ defendant to prove or disprove any of this. YOU can challenge the right of the Company trying to foreclose and demand proof that they have posession!I Know I did in my case!
What is The Role of the Court?
It is up to the Court to determine whether the lender has satisfactorily explained why it no longer can produce the original note. The Court also has to be satisfied that when the original note was lost, the person trying to foreclose on the property had possession of the note at the time it was lost. Until the Court has been satisfied of all of this, they can not foreclose on you!
The Courts are really starting to understand that this is not merely a “technicality,” and the judge should not be satisfied with anything less than full proof of “Holder in Due Course” (notice I keep saying that phrase?). Why? Because the Court itself needs to appreciate the fact that if it agrees that the original note has been legitimately lost and it allows the foreclosure to proceed without the original note, it is you the borrower, who could still be at risk!
Why you may ask?? If the Court has found that the original note was lost and the foreclosure sale is finalized, then later an entity shows up with the original note and proves that it is the “Holder in Due Course”of the note, You are STILL LIABLE. (That’s Why you need to insist on Quiet Title as well!)
I’m Not Kidding here: If you lose your your home in foreclosure, and the Court allowed it because it believed that the lender proved that the note truly was lost and they had standing. Then the Actual Lender shows up later, with the actual note you could owe that them the money even though your property was illegally given to the company that Originally Filed against you won, with the blessing of the Court.That Stinks and is one of the main reasons we Fight to Stop Home Foreclosure
If you are going to use the resources we suggest, (such as the 32 Ways Book) please understand that there are Procedures that the Court will insist you adhere to. The Judge is Not your Friend or Advocate, you will need to ally yourself with an expert or get an attorney if all of this seems overwhelming. But, at Least you can Protect yourself early, get the discovery process done effectively and have a way to win in your fight against Home Foreclosure!
Share and Enjoy:
http://www.zimbio.com/Foreclosure+Help+How+to+Stop+Foreclosure/articles/2/Lender+Can+t+Produce+Note+Homeowner+Foreclosure
Lender Can't Produce The Note? | Homeowner Foreclosure Defense ...
The plaintiff has to prove that it was properly in possession of the note and had standing to enforce it ... The Plaintiff has to prove that it cannot produce the original note, ... The Court also has to be satisfied that when the original note was lost, the person trying ... mortgage industry · mortgage industry ...
www.zimbio.com/.../Lender+Can+t+Produce+Note+Homeowner+Foreclosure - Cached - Similar
5 Housing Markets That Have Further to Fall
Think twice before buying a house in these cities any time soon.
Home buyers looking for a bottom in the real estate market may have been encouraged by housing data released earlier this week. Sales of existing homes rose 2.4% in May, according to the National Association of Realtors. The increase was a little less than most analysts had expected, but it represented the second straight month of improvement. Meanwhile, sales of new homes dipped 0.6% in May, continuing a trend of fairly flat months so far this year, according to data released by the Commerce Department.
Don’t get too excited – it’s still too early to say the housing market bottomed out, analysts and economists say. Distressed properties still account for about a third of all sales, and 29% of sales were to first-time home buyers, who are currently benefiting from an $8,000 tax credit.
More from
» 10 Things Your Home Insurer Won’t Tell You
» The Tax Implications of Foreclosures
» Moving on the Cheap: 6 Tips for Cutting Costs and Hassles
The sales trends are telling. “You’re not really seeing a lot of move-up buying,” says Richard F. Moody, chief economist and director of research at Forward Capital, LLC. “There are so many vacant homes and so many foreclosures that [there’s] not the normal trade-up pattern that you would have traditionally seen,” Moody says.
Housing prices fell nationwide during the first quarter, according to Standard & Poor’s Case-Shiller Index. The decline appears to be slowing: in February and March, the annual rate of decline did not set a new record, but home owners should take little solace in those numbers. “Based on the March data… we see no evidence that that a recovery in home prices has begun,” David M. Blitzer, chairman of the Index Committee at Standard & Poor’s, said in a statement.
All of this less-than-terrible news has left analysts cautiously optimistic that much of the country will start to see housing prices rise sometime in the next year or two. Looking at the nation as a whole, today through the spring of 2011 may be the window for those looking to buy a house at the bottom of the market, says Gary Hager, president and founder of Integrated Wealth Management, a New Jersey-based financial planning company.
A few markets where the housing crisis started earliest have already shown signs of bottoming out. Early-suffering cities like Denver and Boston are now seeing slower declines in home prices, which could indicate they’re already poised for a comeback.
And in some areas, buyers have seized on rapidly falling prices. Existing-home sales rose 9% in the Midwest in May, according to the National Association of Realtors.
“There will be regional differences in the turnaround,” says Maureen Maitland, vice president of index services at Standard & Poor’s. “Most economists I talk to are expecting the beginning of the turnaround to be sometime next year,” she says. However, she added, “the last market may not turn around for two or three years.”
For those hoping to buy at the best possible price, we’ve got a list of five cities where home prices may still have farther to fall. But keep in mind, getting a house at a discount is still not necessarily a house you can afford.
“In light of the housing market boom and bust, consumers should feel very comfortable financially” before deciding to buy, says Lawrence Yun, chief economist for the National Association of Realtors. “They should not try to overstretch their budget to get their dream home.”
1) Detroit
Housing prices fell 4.9% in Detroit in March, according to the latest reading of the Case-Shiller Index. That marked the city’s largest monthly decline since January 1991, when S&P’s backlogged data begin. Houses in Detroit are currently selling at 1995 prices – and with prices still falling so fast, it’s hard to say when the city will rejoin the 21st century.
“Detroit is Detroit because of the auto industry,” says Maitland. The whole Midwest is hurting from car companies’ woes, but Detroit is hurting the most.
2) New York City
Anyone who was hoping to see Wall Street suffer from the financial crisis can relax. New York may have avoided the nationwide implosion in home prices early on, but the city saw its largest-ever monthly decline in March, at 2.5%.
“New York may not be out of the woods,” Maitland says. “Because of what’s going on with the financial markets and the layoffs on Wall Street, New York may be one of the last places to turn around.”
3) Phoenix
Home prices in Phoenix have fallen 53% from their peak in June 2006, and the 2009 data suggest they’ve got farther to go. In March, prices in Phoenix fell 4.5%.
The Southwest has been one of the hardest-hit regions in the mortgage crisis. The region still faces a glut of recently-built homes.
“In Phoenix, you had some of the worst excesses,” in terms of overbuilding, Moody says. “The surplus of houses is so great that it could take two or three years” for prices to turn around. However, a steady influx of new residents into the region suggests the long-term prospects for the market are sound, he says.
4) Portland, Ore.
In the Northwest, median home prices are down but they remain above the national average. Portland’s prices fell 2.1% in March. Home prices in Seattle were down 2.0% for the month.
“Portland’s still going down,” says Dave McCarthy, president and chief executive of Integrated Asset Services, a real estate valuation and asset disposition and management company that collects data on the housing market.
The city “has remained pretty strong but they’re starting to feel some of the effects,” he adds.
The local labor market may be playing a role, Moody says. Portland’s unemployment rate was 11.6% in April, according to the Department of Labor. That’s well above the national average for the month (8.9%).
The Pacific Northwest bubble was among the last to burst, which could mean the market will be among the last to recover.
5) Minneapolis
Housing prices in Minneapolis fell 6.1% in March, the largest monthly decline of any metro area since data tracking began in 1987.
More than half of all March home sales in Minneapolis were due to foreclosure or short-sale activity, according to the Federal Reserve Board’s Beige Book, which gathers information on regional economic conditions. Foreclosed homes tend to drive prices down because “the bank’s best interest is to get the asset off their books” as quickly as possible, Maitland says.
Letters from Debt Collector-UPDATED LINKS 01/01/08
http://ecclesia.org/forum/topic.asp?TOPIC_ID=523
NOVA SCOTIA, CANADA real estate
http://www.novascotiaoceanfrontproperties.com/novascotiahomes.html
Constructive Notice of Child of God Stutus - [pertains to USA/Americans also.LOL ]
Whereas Canada is a nation founded upon the belief in the principles of the supremacy of God and the rule of law, and,
Whereas the number two position in that heirarchy is not claimed by anyone, and,
Whereas the governments of this nation seem to rely on deception to gain the power to govern, and,
Whereas I am desirous of living my life as a 'Child of God,' and,
Whereas the only powers able to claim any authority over a 'Child of God' is God, and,
Whereas neither the government, nor it's agents nor its representatives or employees are God, or above God, and,
Whereas by legally claiming the number two position in the above mentioned heirarchy, I occupy a position above all governments and their agents and employees and representatives,
Be it known to any and all, that on this date,
____________I ________________________ a
free human being, do hereby lawfully claim the status of
a 'Child of God'.
Any human being who wishes to claim any authority over me must first prove they exist above God; they are God; they are between me and God; or they have a document upon the face of which can be found the verifiable signature of God.
Failuare to first do one of the above mentioned things means all claims to authority is abandoned or is unlawful.
Attempting to exercise any authority over me without first fulfilling one of the four above mentioned requirements is an unlawful act of fraud and/or extortion.
Signed: _______________________
Date: _________________________
Witness: ______________________
Date: ________________________
Witness: ______________________
Date: ________________________
[from Page 125 of "Letters To Authorities" by Robert Arthur Menard -- BUY THE BOOK -- WORTH EVERY $20 bucks!!!]
"My non-business card"
“I reserve my right not to be compelled to perform under
any contract or commercial agreement that I did not
enter knowingly, voluntarily and intentionally.
And I do not accept the liability of the compelled
benefit of any unrevealed contract or commercial
agreement, which are my rights pursuant to Common Law”.
Claimant: XXXXXXX
Above is what I have printed on a card that I carry in quantity should the need arise to quell any and all dissent amongst any government principal, agent, employee, servant, person and justice system participant in Canada or any foreign jurisdiction.
I have used it on a couple of occasions so far and believe me, it puts them into a tailspin they never seem to recover from.
They simply cannot act……for you……..or against you!
Make sure you sign it right in front of them before you give it to them.
That way there is no confusion as to the legality or authenticity of the signature.
What happens here is they are now put on notice that if they should proceed then, they had better be prepared to answer some questions as to the legality of their claimed position of creditor and your presumed position of debtor.
From here on in your lucky to get anyone of them to come to the counter they claim is their turf.
And that’s the way it should be………ante up!........or shut up and disappear.
Jack
re: S I G N A T U R E
Take for example a mortgage agreement.
You’res, is the only signature on the agreement.
The banks signature is no where to be found.
So, you are the only one who adds any value whatsoever to the agreement.
Shouldn’t you be the one taking the original?
BANKER FUN !
The easiest way to put the nay-sayers on the spot is to simply ask them questions.
Spend as little time as possible answering their questions.
Such as "What is legal tender versus lawful money?" (check what's written on a $20 dollar bill)
"What is a debt note?"
"If money is no longer backed by gold and silver then, what's backing it?"
"Why is it that only my signature appears on the mortgage note that generated the funds to buy a house?"
"Does that mean I am the only one to add value to the note?"
"Where does the bank get the money to loan me if (as the Bank Act states), it's illegal to lend their depositors money or their own?"
"Why is it that the bank cannot bring the original note to court when foreclosing on a home owner?"
"Would that be evidence the bank never lent me any money?"
"Why is it that the national deficit goes up to the exact same amount as all the interest on bank loans add up to in any given year?"
"Is every loan made by a bank, "BRAND NEW MONEY?"
"Why did we get the BANK OF CANADA in 1933 after the entire free world declared bankruptcy?"
"Why are we paying interest (tax) on a fictitious note known as the National Deficit?"
These are some questions that make some people think and then squirm because, they simply can't answer them.
Don't debate their unfounded foolish answers.....simply move on to the next question.
Have Fun!
Jack
[above...written by Jack Harper -- kissin' cousin of Canada's Prime Minister, Stephen Harper]
STUPID CONSUMER ON DUTY
To whom it may concern;
I have never heard of a more insane act then that of a mortgage burning party.
Here is this couple inviting friends and relatives to witness what they think is the retirement of the note.
Great satisfaction occurs upon torching the offending note.
Meanwhile, back at the bank the banker knows full well the person(s) having this party are totally unaware that someone else retains legal title to the party house.
If at some point in the future the banker and his crowd of legal eagles representing the treasury decide to take out a second mortgage on their property they sure as hell don’t need to inform the party goers.
Who is going to tell the party goers about derivatives?
Why would they?.........they and the treasury still have access to the original note don’t they?
The original note is legal title, is it not?
Besides, your incompetent, legally speaking and have no say in the matter.
I mean, you just torched your note dreaming it to be the original, didn’t you?
Jack
[above...written by Jack Harper - kissin' cousin of Canada's Prime Minister, Stephen Harper]
ON EQUITY MATTERS:
All financial institutions that are licensed to
issue credit and to deal with the public, i.e. banks, do
not "loan money", they "issue credit". The difference
is important. You or I as private citizens are not
licensed to issue credit, hence if we loan money to
one another, one of us actually has to have possession
of the real debt dollars prior to making the
contemplated loan. Banks DO NOT LOAN MONEY
- THEY DO NOT LOAN DEBT DOLLARS - THEY
ISSUE CREDIT !!!! And there is nothing fraudulent
about it !!!!
Credit is a "book-keeping" entry. It is a legal
pretense and it is issued against the security of your
promise to pay/perform/be productive in the form of
a Promissory Note. The rationale for the bank’s
pretense being just and equitable is simply because
your Promissory Note is also a legal pretense until
you prove otherwise by your performance. It costs a
bank NOTHING to issue credit, except for a little ink
on paper, just like it costs you nothing to
issue/endorse the Promissory Note. Mortgages,
personal loans, credit cards, car loans, etc., are all
credit instruments and are all issued at no cost to the
issuing bank, and at no cost to the nominal borrower,
hence neither the issuing bank nor the borrower
HAVE ANY EQUITY in any of the transactions
upon inception.
Only the borrower has potential equity,
because only the borrower has promised to perform.
The bank is only licensed to act as fiduciary on
behalf of the Nation’s citizens (who all have a just
and equitable interest in maintaining the value of the
real Debt Dollars by monitoring the credit issue). The
Promissory Note is your true Bill of Exchange that
progressively becomes your equity as you pay for it.
Once you meet all of the obligations, you possess the
only claim to all of the debt money that was delivered
as proof of your performance.
Pursuant to the Act, your promise to pay
enables the bank to "issue credit". The bank "holds"
your promise to pay as security for your performance.
You perform and prove your performance by actual
delivery of payment, and only then does the bank
release your Promissory Note back to you. Then you
are supposed to endorse your receipted Promissory
Note (converted Bill of Exchange) back to the bank
in exchange for the debt money that YOU EARNED.
The Equity that is produced/delivered and receipted
belongs solely to you.
YOU EARNED IT and YOU DELIVERED
IT which proves that YOU OWN IT. You are the
only one that ever has any equity in the transaction.
The bank is merely licensed pursuant to the Act to
make sure you don't issue credit that you cannot
support. They are entitled to charge you their
standard administrative fees but the interest and
principal goes back to whoever provided the equity,
and that is you. The Act says so, and in a court of
equity, the court says so. Have you ever asked for
your equity after paying back YOUR credit that the
bank issued TO YOU, or have you just gifted it to the
bank like most others?
You convert the original "credit" or ledger
entry into equity, not when you earned it, but when
you deliver it to the credit-holder. That is what credit
is. It is a fiduciary issue of non-backed credit (not
money) to enable us to purchase an asset prior to
having earned the actual money to pay for it. The
fractional reserve system allows for you to be issued
$20 worth of credit so long as there is at least $1 real
pre-paid debt dollar on deposit. The credit is not
issued against that real dollar on deposit. The ratio is
simply an accounting requirement. The credit is
issued against the Promissory Note.
So when the credit entry is entered, it is
immediately "transferred" to the vendor of the
property being purchased and then they get to pretend
that it can be used just like it were real dollars. Now
if everyone that was following this legal pretense
actually tried to withdraw their non-existent dollars,
we would have a run on the bank. The banks are also
regulated to ensure that you have a minimum of 25%
equity in house mortgage credit issues, or if not you
must have mortgage insurance, and they are further
restricted in many areas of credit issue.
These types of things act to protect the
solvency of the system that the banks are licensed to
administer for us. It is our legal responsibility to
understand these things. If we do not understand
them and thus we feel taken advantage of or abused
by this system, then perhaps it is high time we looked
into trying to understand the system rather than
simply alleging it to be fraudulent. It is not
fraudulent, but many of us have been very easily
duped by it because we did not know the rules.
[above...written by Jack Harper -- kissin' cousin of Canada's Prime Minister, Stephen Harper]
vis a vis email:
From: Jack Harper
Sent: Tue 6/10/08 12:07 AM
To: xxxxxxxxxxxxxx
The bankers absolute worst nightmare......REVEALED!
Claiming “our” Exemption:
Underlying Economic Principles:
A lot of efforts have been focused on
determining the validity of making a "claim against
our exemption". This "exemption" purports to be the
amount of credit available at a national level that
somehow represents our collective entitlement. In
short, we each potentially have "equity" in this
balance of credit.
We have generally been under the impression
that there is no alleged lender that loaned our nation
the greater portion of what we euphemistically refer
to as our National Debt. Rationally we know that no
such "third party" exists, rather the "lender" per se, is
really us - the collective citizens that are the bond for
that debt, or more correctly, we are the "credit
grantors". This ledger entry that is entered on the
books of the "nation" is entered as an off-setting
entry to the equivalent amount of "debt money" that
is issued and in circulation. Thus, the nation's books
reflect this National Debt as a positive, or "credit"
entry on our behalf, generally headed under "Savings
Account".
We, the citizens of the nation, being the
collective bond holders, or credit grantors, therefore
have a collective and/or individual pro rata claim to
the balance of this amount owing by the nation; it is
our "equity", or nominally, our “exemption”. We
were originally, and continue to be the only parties to
the cumulative transactions related to the ongoing
creation of this National Debt with capacity to have
brought any equity to the table.
Our collective share of equity, or entitlement
to this credit balance; our exemption, is tied to our
collective contribution, and is precisely equal to the
total "credit" we have historically "granted" to the
nation, whether in actual form or de facto. All of our
debt money; our currency is really instruments of
discharge, and one hundred percent of it was issued
into circulation against our collective credit, our
productivity as supported by our collective promises
to perform, our promissory notes, mortgages and
other security “instruments”, as well as our de facto
good faith, which stands behind government issued
credit instruments such as Treasury Bonds, Canada
Savings Bonds, etc.
Money exists because we have thusly
guaranteed its value. When we perform on this
guarantee; our promise to be productive (by meeting
credit obligations), our direct liability with respect to
our promissory notes is "discharged" and the
underlying debt money should then literally be "paid"
for, but generally it is not. It would only be paid for if
we were to use our fully discharged and receipted
instruments (promissory notes, etc.) as an off-set, or
claim against the credit balance (exemption). We
don't!
Woe to us for the reality of what it is that we
do! We "gift" our discharged (paid for) notes to our
banker that originally "issued" the credit on our
behalf; that banker that was licensed to cause the
corresponding increase in the supply of debt money.
This banker-former "credit issuer" (not "credit
grantor"), becomes the holder-in-due-course of our
promissory notes that originally caused the
commensurate issue of new debt money. That holder-in-
due-course is now holding the entitlement to the
equity in the nation's credit. That holder-in-due-course
is the only party holding an instrument that
can be used as an off-set or claim against the credit
balance.
We may even be doing worse than this!
Technically, or "legally", the banks have become the
holder-in-due-course to any claim against our
exemption credit balance, with/by our written (albeit
unwitting) consent. Mortgages and loan agreements
virtually stipulate this intended result in advance of it
actually occurring. The language used is tantamount
to deliberate deception, but nonetheless it states what
it effects - our tacit agreement to the “gift”.
Mortgages generally, have a clause that
effectively demands that the nominal borrower
deliver all rights, title and interests to the title of the
subject property to the bank (the alleged lender) in
perpetuity. The same mortgage generally, has a
clause that states the bank is only obligated to
"discharge" its security interest in the title, with no
mention of delivering said title back to the nominal
borrower.
When you study the wording of the Bills of
Exchange Act, it becomes clear why these things are
so. All "payment obligations" made pursuant to
mortgages (or any alleged loan for that matter) are
defined generally, and are set out quite clearly as to
be made by delivery of some form of “bill of
exchange”, or instrument of discharge, including, but
not limited to "cash". Hence the reality of delivery of
payment as required pursuant to such a mortgage,
only serves to discharge the liability, not to
extinguish the alleged or actual debt.
That is what the "instrument" says on the
face of it. Failure to demand the return of the
discharged mortgage instrument causes that
instrument to become the property of the "holder". It
is still an outstanding "debt", as it has not been
"paid". Any delivery of the defined "payments” only
causes your own personal liability to be "discharged".
This being the case with a mortgage for
example, the bank could not deliver title back
unencumbered. Hence their rationale for not agreeing
to within the wording of the instrument itself. Any
such written agreement to return the title to you
would require absolute payment, and in these
circumstances where payment only serves to
discharge the liability (not extinguish the debt), the
mere act of agreeing to return the title would be
fraudulent on their part. All they could agree to do is
what they have done, and that is to "discharge" your
liability in consideration of your meeting the defined
payment obligations (delivery of bills of exchange).
Once your liability is discharged and the
bank's possession of the as yet "un-paid" instrument
has been effected, the bank simply re-assigns the
remaining and actual obligation/liability as an off-set
to the "credit" balance owing to us by the nation (the
National Debt); your share of the credit now in their
favour!
Hence all previously or currently mortgaged
properties, including any First Nations "Indian"
Reserves, whether or not "payment" has been
delivered pursuant to said mortgages, are and remain
fully encumbered to the extent cumulatively, of all
previous mortgages nominally secured by that
property. Further, the actual titles to these properties
have never been returned to the party causing any
such "discharge(s)", because that party has not
actually "paid" in substance, only in manner of
discharge/re-assignment of the obligation. This is the
only real reason behind why we can only obtain an
"abstract", or "certificate" of title to our real property.
All previous alleged loans of every type, not
just mortgages, have been issued with the underlying
intent to defraud us out of any just equity claim that
we might have in our collective "credit"; our
exemption. When we qualify for credit, we "hold" a
potential right to claim that proportionate amount,
just as soon as we deliver "payment" as required, but
only if we demand return of our mortgage, loan or
promissory note (the "instruments" per se), as
evidence of our claim.
That payment as required is consistently
defined as some form of "Bill of Exchange" (which
we should now understand why), and subsequently,
when after we have made it, we then habitually
forfeit our promissory note (or instrument), the bank
then becomes the holder-in-due-course of that note or
instrument, which then evidences their claim to our
credit exemption, which they make in our stead but
not on our behalf! No wonder they do not want us to
ask for the return of our actual security instruments!
Summarily speaking, the banks hold the
mortgage paper and all other loan security
instruments, as de facto "holder-in-due-course". Thus
in the event of financial collapse, real or fabricated,
the national debt or more correctly, the people's
collective credit; nominally the Treasury Account,
which represents an amount owed to us, is now held
by the banks. It is in direct pro-rata proportion to
what we have collectively qualified for in terms of
prior credit, causing the commensurate issue of new
money into circulation, and it represents that amount
of labour we have expended to "discharge" our
respective liabilities. It means that we have actually
paid for it (our exemption entitlement) with our real
productivity, but it also means we have actually given
away our right to claim it to a party that has
contributed (produced) nothing at all!
Furthering this example, in the event of
financial collapse, real or fabricated, the banks as
holders-in-due-course of all of the historically issued
security instruments, literally own all properties and
all credit receivables. Thus the rest of us literally,
have nothing, unless we can orchestrate a successful
and viable alternative method to facilitate the
exchange of our productivity. And even that is
limited to whatever we may be able to produce on
"their" land, unless we can figure out how to “pay”
for it in “substance”, (which would require delivery
and acceptance of some form of “legal tender” or
acceptable production).
In the event of such a financial failure, even
if we look at someone like Bill Gates who allegedly
has some $60 billion in so-called "cash", he would
still have nothing because the banks would have
evidence of their prior claim to any of the credit
balance that lies behind and thus secures the issued
debt dollars (cash) he held in his various deposit
accounts. In other words, all of his prior "credit" was
"willingly" and cumulatively assigned by him to his
creditors whenever he "borrowed" money, which by
manner of mathematics can be easily deduced to have
been a much greater amount than any surplus of
residual cash he may possess.
His possession of the "debt" dollar
instruments on deposit in “cheque-book” or
electronic form, is literally like his getting stuck
holding the hot potato. Unless he can provide actual
payment (which by definition would require delivery
and acceptance of some actual payment or
production) to extinguish the liability associated with
his $60 billion in debt dollars, his prior creditors
would simply "call" his obligation. He is after all, the
holder-in-due-course of the debt dollar account
balances, the debt instruments, hence he will be the
one caught in possession of the last remaining debt
obligation - with no conceivable means of paying it,
and his only prior means of off-setting it, now snugly
held in the hands of his former bankers. He will not
just have nothing like the rest of us, he will simply
have a lot more of nothing!
Is it yet clear that it matters not how
fraudulent were the circumstances behind the original
issue of a Bill of Exchange, rather it matters only to
the holder-in-due-course that the signature is
genuine! This may be more than just another good
reason to consider barter! And it may be more than
just another good reason to promote radical change in
our thinking generally!
[above..written by Jack Harper -- kissin' cousin of Canada's Prime Minister, Stephen Harper]
WHO REALLY OWNS REAL ESTATE?
Ever heard the expression, “possession is
nine-tenths of the law”? Well for centuries that was
absolutely true, and in many places it still holds some
meaning. Remember our history lessons, when some
explorer reached the shores of a new land he would
simply plant his king’s flag on the land and declare it
to be the property of the king from that day forward,
regardless of who might have been living there first.
Of course, many battles were fought in many lands
around the world to enforce those declarations, which
effectively proved that whoever was the biggest
bully, was the owner.
I am happy to be living in Canada but I am
dubious about whether I fully support how it came to
be the Queen’s property. If asked am I proud to be a
Canadian land-owner, I would say yes, and by
extension I would be saying many other things. The
land I own was taken by force, and by continuing to
act like that was perfectly justified, I and all other
Canadians are silently stating that it must still be
justified. So, like in times of old, the biggest bully
might end up owning the most land!
Sometimes the biggest bully may don very
crafty disguises! It might not only be the right of
might that wins in a bullying contest, but sometimes
the deceit of the trickster can be just as effective.
In North America, and many other places in
the world, you do not actually own what you think
you do. This includes your real property - your home.
Oh you might have hired the best lawyer and you
might have been told that you have “clear title” to
your property, but you don’t - really really! How this
happens is most amazing. It all has to do with an
organised crime syndicate of bankers and mortgage
companies, land titles and lawyers! Sounds far
fetched I know, but believe me you do not own your
property in spite of what you may think!
Clever bankers working in concert with very
crafty lawyers have literally stolen all of the real
property titles in Canada and United States. With a
few very rare exceptions such as holders of original
Land Patents in the U.S. and holders of original
Crown Land Grants in Canada, they have taken it all.
Even the Natives have been duped from most of their
Reservation properties! Every Reservation that has
been pledged as Mortgage security, even if that
Mortgage has been subsequently discharged, has
been lost to the scheming bankers.
Remember many years ago, possibly talking
with older member of the family or community and
hearing them speak of taking great care to place the
actual title of their property in some safe place? Ever
wonder why no-one speaks of this need any longer?
Well, its because no-one has the need any longer!
Ever wonder why suddenly it became the norm to
have the Land Titles Office (in Canada) hold all of
the original titles while the “owners” would only get
a Certificate, or Abstract of title?
Several decades ago, the wording of ALL
mortgage documents was deliberately changed to
include two clauses, something along the following.
Clause Number 1: “I/we Mortgagee, hereby sell,
convey, transfer, assign and devise all rights, title and
interests to the property (legally described) unto the
Mortgagor (lender), in perpetuity”. And Clause
Number 2: “The Mortgagor (Lender) agrees that
upon Mortgagee making all payments and obligations
due to the Mortgagor hereunder during the term
hereof, it shall discharge this Mortgage (its lien) from
the subject property”. Notice that Clause Number 1
transfers all right “TITLE” and interest to the bank in
perpetuity. Notice Clause Number 2 says only that
the bank agrees simply to discharge their mortgage,
and not that they will return the title!
And from the first time any Crown Land in
Canada was mortgaged under such terms, the bank(s)
have indeed kept the title to the property in their
name! As alleged “owner” all you got was a letter
from Land Titles, confirming that there were no liens
on the title other than what you agreed to. You were
never told you were the actual Owner of the property
or given the actual Title to prove it, you were just
told that there were no liens on it and that you were
registered “AS” the owner, the truthful meaning of
the phrase being “as the owner IS ALSO” - the bank.
You were also told that in this modern age it
would be much safer to have the official Land Titles
Office hold the title in safekeeping and that you
should simply “trust” them. The reality is ever since
the property you think you now own was put up as
mortgage security that very first time after the banks
started using this new wording, title to that property
has remained in the name of that first mortgage
lender, and you and all of the others since were
tenants! Worse than this, every time anyone has
mortgaged that property after the very first time, the
banks have gained all of the interest and principal for
property that they already stole!
Now you can go through a process to have
the Crown Land Grant status of your property
confirmed and brought current, effectively providing
you with the actual (allodial) Title to your property,
which you should keep under lock and key in some
place much safer than Land Titles, but what lawyer
has ever advised you about this?
In the U.S. a similar process is available to
bring the original Land Patent current, which
provides you the same results. So now instead of a
Title Company holding the title, you would hold it.
Oh, and no wonder Title Insurance companies can
offer such title insurance coverage - they hold the real
title! They always go through a great process to let
you know the precise “history” of the parcel of land,
but they never take you right back to the Land Patent
or suggest that you should hold your own title as
evidenced in that Land Patent, unless you demand it!
An interesting advantage of having your
Crown Grant or Land Patent brought current and
possessing your own title, is that no-one may register
any lien against it without your cooperation, because
you “hold” it literally.
What we need to do is to stop acting like the
banks are justified in this thievery too. So long as we
continue to behave like it is just fine to be robbed,
they will continue to rob us. All we have to do to stop
the robbery is to simply start acting like we know the
difference. Theft from their point of view is relatively
simple, especially when we all continue to act like
the stupid victims they have made us out to be. By
the millions, Canadians willingly pay these notorious
thieves their hard earned, very valuable money - the
fruits of their labours; their productivity every single
day of the year! Soon we will have GIVEN our entire
heritage away to these robber barons!
To be continued……
[the above was written by Jack Harper -- kissin' cousin of Canada's Prime Minister, Stephen Harper]
Home Remodeling Showing Signs of Recovery, Future Looks Bright
Recent surveys and reports show a picture of the home remodeling industry that is a mixed bag of good news and bad according to home remodeling website remodelormove.com.
The bad news, the most recent semi-annual RemodelorMove.com Remodeling Permit Activity Report of 5,000 homeowners considering remodeling shows a 20 percent decline in the number of remodeling permits issued during the first quarter of 2009, compared to the same quarter in 2008. The first bright spot for the home remodeling industry comes from the first quarter 2009 report, which shows an increase of five percent in the number of homeowners who stated they will probably remodel in the next 12 months.
This is the first increase reported in this benchmark measure of future remodeling plans since 2007, when more than 90 percent of the homeowners who were thinking about remodeling reported they would probably remodel in the next 12 months. Since 2007, this measure of homeowner sentiment has fallen steadily, first when home prices leveled off, then when home prices began to decline, and again following the start of the current recession.
The second bright spot for the home remodeling industry is that the cost to remodel is now 20 percent less than it was in 2006, the result of savings from a variety of sources, including the economic stimulus package, reductions in prices for many materials and home products, and lower bids from contractors as they compete to keep their work crews busy. Details on these savings opportunities are available at www.remodelormove.com.
Other findings from the First Quarter 2009 Remodeling Sentiment Report include:
82% of respondents said the cost to remodel is their biggest concern.
12% of respondents planned to use economical materials when they remodel, while 12% plan to use expensive materials, and the remaining 76 percent will use standard-priced materials.
89% of respondents are changing their remodeling plans because of the current economic recession.
When ready for remodeling work to begin, most homeowners will look to their kitchen and bathrooms to make improvements. According to research conducted by the National Association of REALTORS, more than 50 percent of homebuyers will remodel their kitchen or bathroom within the first three months of purchase – and that that will be the first project on the remodel list.
"The first thing homeowners should consider are the goals for any major remodel project," said Lynn Schrage, marketing manager for Chicago's The KOHLER Store. "Consider your lifestyle now, but don't forget to think about your needs in 5 to 10 years. The kitchen and bathroom are the most frequently used rooms in the home. Careful planning is essential."
Schrage points out that considerations should include style, function, and how a family will be using the space. She added that a design professional can help you manage the planning process and selections, and assign a budget estimate. "Make sure product selections, project details, a timeline, and construction costs are outlined in writing at the start of the project and things should go smoothly.
[Editor's Note: RemodelorMove.com is an online resource for homeowners making the decision about whether it is best to remodel their current homes or to move. Kohler is a global leader in the manufacture of kitchen and bath products, engines and power generation systems, cabinetry, tile and home interiors.]
May existing home sales rose 2.4 percent
A real estate group says sales of previously occupied homes rose modestly from April to May, the third monthly increase this year, but signs of any housing recovery are fragile at best.
The National Association of Realtors said Tuesday that home sales rose 2.4 percent to a seasonally adjusted annual rate of 4.77 million last month, from a downwardly revised pace of 4.66 million in April.
Prices, meanwhile, dropped by 16.8 percent from a year ago.
The results missed economists' expectations. Sales had been expected to rise to an annual pace of 4.81 million units, according to Thomson Reuters.
The median sales price plunged to $173,000 from $207,900 in the same month last year, but up from $166,600 in April.
FREE Book On How To Stop Foreclosure and Credit Card Lawsuits on ... - 7:16pm I have found a secret little known method (even unknown by many attorneys) ... After the dismissal of 14 foreclosure cases by a federal judge in Cleveland, ...
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thought some of you here might find it of some interest ?
oh yea...and this is the article he and Jack Harper are eluding to:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aejJZdqodTCM
Banks Lose to Deadbeat Homeowners as Loans Sold in Bonds Vanish
By Bob Ivry
BUDDIEE18
Who is in possesion of the original mortgage note?
From: Jack Harper
Sent: Sun 3/02/08 6:01 AM
To: me and others
To whom it may concern;
Anyone who has a mortgage in arrears and staring foreclosure in the face, would be well advised to check the federal courts ruling (this applies in any common law jurisdiction on the globe) in Ohio on November 1 2007 where someone, amongst the 14 being foreclosed on, submitted the proper documents to the court prior to the court appearance, demanding the judge ask the bank to produce the original note that created that mortgage in question.
Where upon, the bank failed to produce the original note.
All 14 walked out of court with no one to make their payments to.
Below is an exchange between Bob Ivory of Bloomburgs and I concerning this subject.
Bob Ivry of Bloomburgs in New York wrote;
“Lents's attorney, Jane Raskin of Raskin & Raskin in Miami, said she has no idea who owns Lents's mortgage note.”
``Something is wrong if you start from what I think is the reasonable assumption that these banks are not losing all of these notes,'' Raskin said. ``As an officer of the court, I find it troubling that they've been going in and saying we lost the note, and because nobody is challenging it, the foreclosures are pushed through the system.''
Bob,
Isn’t it amazing how stupid lawyers are at times?
What’s even more amazing is how stupid some banks officer’s are.
Given the nature of mortgage loans, the original, blue ink signed legal instrument known as the “note” is sitting in the federal treasury department where it has to stay.
If, the bank actually was in possession of the note then, you, having satisfied your obligation to the bank would naturally demand the note be returned.
Right?
I mean, WHOEVER, is in possession of the note, is the holder in due course to the legal title to the property.
Anyone, including you, while holding a mere copy is deemed, nothing more than a tenant holding equity title.
The reason for this is simple; “The bank never loaned you any money” and therefore, can not legally lay claim to the property even though you may be in default, unless of course, you don’t know any better.
Upon application for the mortgage loan that you signed on the dotted line, the bank in turn, upon submitting the original note to the treasury department was authorized to release the funds to the seller of the property.
The only interest the bank retains is the collection of another’s debt.
And that makes them a third party to an action.
All along the banks have pulled the wool over everyone’s eyes and now it’s all coming home to roost.
You may wish to refer to the federal court case in Cincinnati Ohio on November 1 / 2007, where 14 mortgage holders (some were in default, some were not) walked out of court with no one to make their payments to.
In turn, the Deutshe Bank fired their lawyers and went home with empty pockets.
Regards,
Jack Harper
Saskatoon, Saskatchewan, Canada
----- Original Message -----
From: "BOB IVRY, BLOOMBERG/ NEWSROOM:" <bivry@bloomberg.net>
To: <happyharper@SHAW.CA>
Sent: Wednesday, February 27, 2008 7:37 AM
Subject: Re: Who is in possession of the original mortgage note?
> So who is entitled to get the house if the mortgage isn't being paid?
> ----- Original Message -----
> From: Jack Harper <happyharper@shaw.ca>
> At: 2/26 23:53:32
The one holding the original note, that’s who.
Mind you, the chances of them laying claim to the property are next to nil.
It all comes down to this: "If you produce the note and I satisfy the note, then the holder must turn it over to the homeowner."
And if that happens, no one can place a lien on the property or tax it.
The original note IS THE GOLD.
So, it would appear the person who is in possession of the home is entitled to the home unless, the original note is produced.
They are not guilty of anything, the bank is.
Besides, the bank has no interest in the home except as a debt collector for another party (the federal treasury)
Therefore, because the bank is now a third party to the action, they can not produce the note.
I hope this clears this up.
Jack
>Bob,
Something else that I picked up on, as the rest is already known to me, was
the lies below. It is illegal for banks to lend depositers money, or even
their own money! This is a complete lie! Then the last part is beyond
ridiculous! Almost seems like bank propaganda.
`”When banks originally made the loans they used people's money from pension
funds and savings accounts and they should be allowed to foreclose the loan
as quickly as possible before the property depreciates in value any more,''
Saft said. ``The mortgage industry has been painted as the enemy when all
they did was make loans to enable people to buy homes. Now there's less
money available for new borrowers to buy homes and that's what's causing the
value of homes to go down.''
Jack
MORTGAGE NOTE ??...WHAT...mortgage note ???
Here is something so fundamental it boggles even the best of legal minds…
Millions upon millions of Americans, Australians, Canadians, Irish, Brits, French, Swiss, Germans, etc. are making payments on their home thinking they are paying off a mortgage note.
When, absolutely no evidence of this above mentioned action is based on fact or truth.
What does exist is the fact of truth that: “what the home owner is doing is making payments on is a “bearer bond” or “bearer instrument” and that, my friend, is no mortgage note.”
OH NO!!
The bank converted the original mortgage agreement into something else, which is called a “bearer bond” or a “bearer instrument” without your knowledge or consent.
This simply means that the bank, who issued the mortgage note and claims to be the holder in due course, [is upon conversion of the note], the legal title holder to the all property listed on the “bearer bond” or a “bearer instrument” and owns the property in fee simple even after you have satisfied the so called mortgage.
The bank now owns this property forever and this is the reason you are listed as “beneficial owner” and “tenant” on the title given you by land titles.
So….just what exactly is the reason that you are making payments on a mortgage that “DOES NOT EXIST??”
THE BANK CAN NOT PRODUCE ANY EVIDENCE THAT A MORTGAGE EXISTS!!
IT IS IMPOSSIBLE!!
AND THAT IS WHY NO BANK EVER PRODUCES THE NOTE IN COURT ON A FORECLOSURE!!
THEY ALWAYS SHOW UP WITH SOMETHING OTHER THAN THE BEARER BOND/BEARER INSTRUMENT.
SUCH AS, AN AFFIDAVIT CLAIMING “LOST NOTE”……OR GET THIS…. A”CERTIFIED TRUE COPY”…..OF THE FRONT….SO,
IF YOU DO NOT DEMAND THE BANK PRODUCE THE MORTGAGE,THE ORIGINAL INSTRUMENT OF INDEBTIDNESS IN ITS ORIGINAL FORM THEN, YOU ARE SEEN TO BE IN AGREEMENT THAT, THE BANK DOES NOT HAVE TO PRODUCE IT!!
AND THAT MY DEAR FRIEND….IS WHAT THE BANK IS COUNTING ON!!!
HERE IS WHAT IS WRITTEN ON THE BOTTOM OF THE FEDERAL DOCUMENT THAT THE BANK MUST FILE TO INITIATE FORECLOSURE IN SASKATCHEWAN: [HIGHLIGHTING BY JACK,]
To the defendants:
Take notice that you are entitled at any time, by notice in writing, to demand from the
plaintiff’s solicitors (if the plaintiff sues in person, insert “plaintiff ”) full particulars of the amount
claimed by the plaintiff, and production for your inspection of the mortgage, and any other
documents sued upon.
THERE YOU GO….
ARE YOU GOING TO EXERCISE YOUR RIGHT TO DEMAND THE PRODUCTION OF THE MORTGAGE OR NOT???
OR, ARE YOU JUST GOING TO BEND OVER, PUT YOUR HEAD IN THE GOPHER HOLE AND BEG FOR MERCY THAT THEY DON’T SCREW YOU TOO HARD???
What is right and wrong DOES matter in life:
All the money in existence in our monetary systems has been borrowed at interest from a bank. When all currency in the system is borrowed at interest, there
is NO MATHEMATICAL WAY to pay one penny of interest without pushing some people off the table via cancellation of their obligations to pay principal
through bankruptcy, or through the kind of cancellation programs offered.
Reform must come from the side of dissatisfied customers, because the lenders have NO motivation to move away from their current position of power and influence. If people who favour the customer over the lender are able to use the law to
stimulate change, any imbalance created by giving people their real estate for free will best correct itself through a change in banking laws and practice, NOT
through perpetuation of the present system of GRAND THEFT of the entire wealth of society by the banking cartels.
Under the present system, someone HAS to get something for NOTHING. There is no other way.
Either the bankers continue to get interest payments for NOTHING at risk, or customers get free real estate after "borrowing" money that was created out
of NOTHING and having the "loan" either cancelled for fraud, or discharged in bankruptcy, or the lender gets the real estate from the customer for NOTHING,
following a foreclosure on the loan that was created out of NOTHING.
The answer is to stop basing bank lending on NOTHING.
Regards,
Jackie-Grant-Vel’oice: Harper
c/o 1040-B 20th Street West, Saskatoon city, Saskatchewan province.
Free-man-on-the-Land, Non-consenting and ungoverned
All Rights Reserved, Exercised at Will and Fully Defended, By the Grace of God, The Rule of Law and the Law of the Land.
p.s. same goes for stocks, bonds, etc.
[Jack Harper is kissin' cousin of Canada's Prime Minister Stephen Harper]...the above is from an email i rec'd.
----and the follow-up:
Someone wrote:
I guess then that loans from private corporations backed by collateral of the house must follow the same rules, assuming that the corporation actually used bank "loans" to loan to the mortgagor? What if the corporation used its funds from capital invested by its owners to fund the mortgage-backed loan?
If the one making the loan can bring the original instrument of indebtedness in its original unadulterated form to court then you must pay.
How you pay, is another matter
It makes much more sense to offer to settle before foreclosure begins.
Ask for an accounting say two weeks out along with the lenders assurance that upon accepting your offer to settle the lender agrees to an immediate and direct exchange of your money for the original instrument of indebtedness in its original unadulterated form.
If the lender has assigned a security interest in the loan to some third party then, your good to go because you are not making payments on a loan......your making payments on a bearer bond/instrument.
And just why would you make payments on some bankers property???
Jack
On Tue, Mar 17, 2009 at 5:51 PM
Investor Report: Residential Lots
It might sound a little surprising, but in investment real estate, residential lots are hot, especially in markets that saw the highest peaks and the worst busts during the past three years.
On Florida's west coast, Gary Tasman of Cushman & Wakefield affiliate Commercial Property Southwest of Florida, says bulk purchases of developed building lots are “really brisk right now” with prices in some local areas nearly doubling from their low point.
The reason: Home builders are now looking ahead to 2010 and 2011. They see the rebound already taking shape. And they need well-located lots ready to go for the future construction they're planning.
The best deals are bank-owned lots taken back in foreclosures from earlier, unsuccessful developers. They often come with bare-bones pricing, but Tasman warns that rising demand - from builders and investors - is putting pressure on those prices.
For example, in Cape Coral, some lots that once were selling at $5,000 to $6,000 now command $9.000 to $10,000 or more, Tasman told Realty Times in an interview last week.
In other boom-to-bust-to-rebound markets - Arizona and California for instance - similar land rushes are getting underway again.
Gregory Vogel, CEO of the Land Advisor Organization, based in Scottsdale, Arizona, says demand for bulk-sale, deep-discount residential lots is now, in his words, “nothing less than stunning.”
Publicly-traded builders are scooping up developed lots by the hundreds in REO transactions, he told Realty Times, and are then “land banking” them for their own building - or for resale to other builders or investors - in the coming several years.
In one recent sale, Communities Southwest bought 891 foreclosed single family lots from Bank of America for $8.3 million. A major land banker in its own right for the past two years, Communities Southwest now is marketing about 2,000 lots - primarily targeted at builders gearing up for better days ahead.
But there's an important factor to keep in mind if you're looking to invest in residential lots in the coming months: There is virtually no financing available for developed lots. So-called “A-D & C” loans - that's acquisition, development and construction - are few and far between from banks or other conventional lenders.
So buying lots at deep discounts - attractive as it may be -- is an all-cash investment activity. You go in with your own bucks. Or you partner with equity investors who know good timing when they see it.
Real Estate Outlook: Housing Rebounding
The big economic news for housing this week is all about sales.
Housing sales and pending sales contracts are up, dramatically in some markets, and a rebounding real estate sector could soon start stimulating the broader economy.
Even Federal Reserve Chairman Ben Bernanke told Congress last week that essentially the worst is over, the housing market is stabilizing, and we're heading out of recession in the second half of the year.
Pending home sales jumped by 6.7 percent in April. That was the third straight month of significant increases, and the highest pending sale total for any month in the past seven years.
In the Northeast, pending sales were up last month by an extraordinary 33 percent. In the Midwest, they rose by just under 10 percent, and the West by two percent. They only declined in the southern region -- and that was by just two tenths of one percent.
In a handful of major markets, closed sales also are moving up sharply. In Las Vegas, sales jumped by 36 percent during April - the highest in two years, according to MDA DataQuick researchers.
The flip side of that, of course, is that most of these sales were distressed -- foreclosures or sales of bank-owned properties. Fully three quarters of all Las Vegas area sales fit into that category in April.
The median price in Vegas sunk to about $141,000, the lowest since 2001, and that's 55 percent below the $312,00 cyclical peak hit in June of 2006.
Meanwhile, low prices nationwide, combined with mortgage rates at near-record lows, have pushed the National Association of Realtors' Affordability Index into record territory.
In April the index hit its second highest market ever, based median household income and the monthly payments needed to buy the median cost home.
On the mortgage front, applications to purchase homes continued to rise last week -- up by 4.3 percent -- according to the Mortgage Bankers Association.
But here's a little sobering news: It's becoming increasingly clear that low mortgage rates are not going to be around forever. Average thirty year fixed rates took their biggest jump in half a year last week on bond market jitters.
The average rate for 30 year fixed topped five and a quarter percent, up from 4.8 percent the week before. And 15 year rates went to 4.8 percent from 4.4 percent.
So, if you are seriously considering getting off the sidelines - now that prices are back to pre-boom levels in some markets and sales are on the upswing, jump in sooner rather than later, if you want the lowest mortgage rates.
sthg...nice follow through ;)
speaking of real estate investments...sthg forward looking hdogtx?
If Safeway had a sale -- 25% off everything in the store -- the supermarket would be swamped. Yet, when real estate has big discounts (often called a crash or a burst bubble), that same shopper runs away from an asset sale. Instead, they wait until prices are high and other fools are bidding them up further to finally buy. - Robert Kiyosaki
Real Estate Outlook: Sales Rising in Some Areas
When consumer confidence about the economy hits its highest level of the year, mortgage rates hit the lowest in decades, and home sales jump by amazing percentages in key markets, all in one week, what do you think that adds up to?
There's no way it's anything less than outstanding news for real estate.
Sure it's true that there are still very tough situations out there on job losses and pockets of severe unemployment where local companies are laying off hundreds of people, but on a national basis, the forces driving real estate right now are increasingly turning positive and encouraging.
Take last week's mortgage interest rates. Though they were already close to all-time lows, rates fell again last week to 4.6 percent on average for new 30-year fixed loans, and 4.5 percent on average for 15-year fixed loans, according to the Mortgage Bankers Association.
Home sales in major markets around the country have shown dramatic gains in the past month. In the Chicago metro area, sales were up 38 percent in Cook County, 65 percent in Lake County and 51 percent in Kendall County.
The Chicago Tribune interviewed Mark Zipperer, an agent for ReMax Edge in the city, and he said: "I am so thankful. It's like after a drought, it's (suddenly) raining." Shoppers are suddenly out looking at houses again -- and they're making offers!
In Florida, statewide sales jumped by 30 percent in March over year-earlier levels, and were up 33 percent over the previous month. Even condo sales were up by 25 percent.
Similar gains were reported in California markets hardest hit by price declines during the past two years. Statewide sales rose 64 percent in March compared with March of 2008. Unsold inventory is now just five months -- that's down from 12 months the previous March.
And here's a possible indicator of things to come: Median house prices may be bottoming out. The California Association of Realtors reports the median price of homes sold was up by 2.2 percent for the past month. Prices are still down by 40 percent or more from the boom year peak in many areas, so even the slightest increase is a surprise event.
Meanwhile consumers across the country say they're feeling better about their economic futures, which is always an important factor for future home purchases. The Conference Board's Consumer Confidence Index hit its highest point for the year this month, with the "expectations index" component up by 65 percent over February.
What's it all add up to? We call it a turnaround getting underway.
Some Real Estate Markets Warming Up
When Carole and Jim Gourley started looking at vacation properties in Florida last December, they weren’t all that serious. The retired couple, who live in Ontario, had rented in Panama City Beach for five winters. Stuck at home with a sick pet this year, Jim Gourley started browsing for foreclosures down south for fun.
“One thing led to another and we found a condo we liked the look of and decided to pursue it,” Carole Gourley says. “We could not believe the prices that some of the properties were being listed for, especially since the one we liked is only four years old.”
They ended up buying a three-bedroom condo in Bellasol, a development in Fort Myers, where prices currently range from $39,000 to $170,000. “We paid 25% of the original selling price,” she says. “We feel that we got an extremely good deal.
The Gourleys are part of a new surge of buyer interest along Florida's Gulf Coast, where real estate websites are seeing a dramatic increase in traffic and local brokers are experiencing an uptick in inquiries and sales.
In housing markets around the country, there are signs that perhaps the bottom has been reached, and sales are beginning to come back up—with prices hopefully to follow.
To get a handle on these rebounding markets, we asked real estate search firm Trulia to tell us the cities in which they have seen the greatest rise in searches—a proxy for buyer interest—over the last year
The result: Seven of the ten cities were in Florida, a poster state for the real estate boom and bust, and five were on the Gulf Coast side of the state.
Real Estate Markets Gaining Interest
City Search Rank in February 2008 Search Rank in February 2009 Change
Fort Myers, Fla. 39 13 +26
Cape Coral, Fla. 33 12 +21
Miami, Fla. 20 6 +14
Sarasota, Fla. 42 29 +13
Naples, Fla. 34 21 +13
Fort Lauderdale, Fla. 49 37 +12
Scottsdale, Ariz. 48 39 +9
Washington, D.C. 29 20 +9
Charlotte, N.C. 24 19 +5
Queens, N.Y. 13 9 +4
Tampa, Fla. 21 18 +3
Source: Trulia.com
Obviously, this isn’t boom buying, wherein people are investing their money because prices are rising dramatically.
“Basically, the market crashed so hard, prices have fallen so much, that places have become interesting to people again,” says Mark Washburn, a realtor at Island Coast Realty in Ft. Myers who blogs about the local market.
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Sales for Lee County, Fla., which includes Fort Myers and Cape Coral, were up nearly 80 percent from 2007 to 2008, he says. “That’s pretty impressive. The caveat is the prices are half.”
The same holds true in the other Florida markets, says Stan Geberer, associate at Fishkind & Associates, a real estate consulting firm based in Orlando. “Those are all places that have seen a 30 to 50 percent decline in prices over the past year or so,” he says. “From the peak of the market they may be down even further than that.”
According to the Office of Federal Housing Enterprise Oversight, in the fourth quarter of 2005, home prices rose 36 percent in the Cape Coral-Fort Myers area, 38.3 percent in the Naples-Marco Island area, and 28.2 percent in the greater Miami area. In just the last quarter of 2008, prices fell 32.9 percent, 32.8 percent and 24.1 percent respectively.
“Those areas saw the greatest levels of overbuilding, the greatest levels of speculation during the bubble,” says Geberer. “[Southwest Florida] was a heavy area for starter home investors.”
Those price declines are luring bargain hunters. Some are vulture investors, Geberer observes. Washburn is seeing people from north of the Mason-Dixon line, and many from Canada.
National real estate brokerage Coldwell Banker Real Estate is seeing buyers push life plans up as a result of the economy, and seeking deals on their retirement homes. First-time buyers are coming back into the market, says Jim Gillespie, president and CEO of Coldwell Banker Real Estate, thanks in part to federal incentives, which include a $8000 tax credit for first-time, residential buyers.
Photo: Global Jet
Queens, N.Y.
--------------------------------------------------------------------------------
In the comeback markets, many of the deals are short sales or foreclosures. In last quarter of 2008, according to the National Association of Realtors, 45 percent of real estate transactions in the US were so-called distressed sales.
But Gillespie points out that there are also markets that have been strong all along; places like Columbus, Ga. Inventory is up there, but prices are too—very, very slightly, about 1 percent. The same holds in Shreveport, La., and San Antonio, Texas, he says. “In most of the heartland of America, the prices are stable.”
While it may not be an easy sell to consumers, he argues that it’s a great time to buy: Interest rates are at historic lows, with high inventory levels, there’s lots of choice, and prices are down.
“Once the inventory levels are burned off in those hardest hit states we’ll have a balanced market,” Gillespie says. “And things will start to go up.”
Real Estate Outlook: Rates and Applications Improve
We've all learned not to get too far out ahead of occasional spurts of good economic news, and not to assume too early that the long-awaited real estate turnaround has arrived.
But for the past few weeks the positives have been significant and sustained. You really can't ignore them.
Take mortgage rates and new loan applications. Rates hit their low point in decades last week, and it looks like they're going lower in the wake of the Federal Reserve's announcement that it plans to pump hundreds of billions more into mortgage securities.
Average thirty year fixed rates dropped to 4.89 percent, according to the Mortgage Bankers Association's latest national survey. Fifteen year rates hit four and a half percent with one point.
Not surprisingly, loan applications are rocketing. Last week they were up by 21 percent over the previous week and are now 31 percent higher than applications were at the same time in 2008. A lot of the volume is for refinancing, but applications for home purchases are up as well.
Meanwhile, housing starts took a surprise jump of 22 percent in February over January's depressed levels. Most of the increase was attributable to apartments and condominiums, but single family starts were up by one percentage point, and new home permits were up by 11 percent, after months of sharp declines.
Even sales may be starting to stir in the depressed new home sector. A survey of sales at sixteen hundred new home communities in 80 metropolitan markets by John Burns Real Estate consultants found small but noteworthy "improvements in sales that can't be explained by just "seasonal " changes in buying habits, according to the study.
On the west coast of Florida, builder John Cannon of John Cannon Homes told the Sarasota Herald Tribune that "there's a different buzz in the air (now) than we had sixty to ninety days ago. People are (suddenly) out there looking. Astute buyers know that they (can) take advantage of low pricing" and today's bargain financing rates.
Too much optimism here? After all, unemployment keeps rising and the national economy is still in recession. But Fed chairman Ben Bernanke sees reason for cautious optimism about the months ahead. He told a national TV audience last week that the recession will likely be over later this year.
"I do think we will get it stabilized" and then "pick up steam" as the recovery gets rolling into next year.
But here's what we believe at Realty Times: Real estate as a sector will see its own recovery sooner than most sectors. The signs are pointing that way already.
Why to Buy a Home Now
If you're renting and wondering if you should buy a home, consider what bestselling author, David Bach, says, "The average homeowner is worth 35 times more than the average renter."
He advises renters to take action immediately and start saving part of their paycheck every month to help accumulate a down payment. He also encourages renters to borrow 10-20 percent less than what the bank is willing to lend; that way they're only buying as much home as they can afford.
The longer you rent, the longer it may take you to eventually get into homeownership. If the market conditions have scared you, perhaps you're not looking at the other side of the coin. Owning a home becomes part of your investment portfolio, provides tax benefits, allows you to build equity (it still exists), and, if you buy now, you may get an excellent deal.
According to a MarketWatch news article, buying a home now can provide some real negotiating power to request improvements, price reductions, help with closing costs, and more. "People can get a lot of what they need and almost all of what they want today," said Jay Papasan, one of the authors of "Your First Home".
While poor market conditions have created a troubling situation for some homeowners, the downturn has made the buying market ripe for others. The affordability of homes is better than ever. The National Association of Realtors' housing affordability index concluded that homes in December of 2008 were more affordable than at any other point since 1970 (the start of the index). And with numerous foreclosures on the market and prices dropping in many areas, now is a good time to buy. But in order to make your purchase profitable, here are some things you should consider.
How long will you be in the home? Some experts advise that if you are planning to move within a year, buying may not be the best option because of the expenses associated with moving. However, if you're searching for a place to live for, at least, several years, buying now could be a good choice for you.
How much you can afford. Don't let tighter lending regulations scare you off from making a purchase. Instead, understand what you truly can afford. Don't get caught up in buying too much home. In fact, these days, the trend is moving toward smaller homes -- simpler living.
Mortgage rates drop to historical low. How much home you can afford is affected by mortgage interest rates that, right now, are highly appealing. Good credit, documenting your income, and a substantial down payment will make you a better candidate for the better mortgage rates.
Freedom to choose. Now, unlike several years ago, the market has a large inventory in many areas. The market time to sell a home has increased which creates a large inventory of homes, everything including new, existing, and foreclosures. Buyers can peruse the market and have the freedom to select the home they really want. If you're interest is in a new home, know that many developers are getting more competitive with their pricing because they also have taken a hit by the ailing economy.
Quality of life. Buying a home can create a higher quality of life, giving you pride of homeownership, and something to enjoy improving and developing over the years.
Tax credit benefit. Last summer, the federal government started providing up to a $7,500 tax credit to buyers who have not owned a home in at least three years; the tax credit must be repaid within 15 years. But that figure may increase. The National Home Builders Association and National Association of Realtors are pushing for more significant help for all home buyers -- not just those who are buying for the first time. The Senate, as part of a stimulus package, this month approved a temporary new tax credit to be applied to homebuyers' tax bills. The credit would give buyers 10 percent of the purchase price of any home, up to $15,000. Alan Zibel of the Associated Press writes, "Anyone who buys a home within a year of the bill's signature would qualify. To deter speculators, buyers must occupy the house as their main residence for at least two years." At the time of this writing, the stimulus package had not yet gone to the White House.
Hot Market: California Ends '08 With Run Up of Sales, Prices Stable
Average sales prices in the Western United States dropped year over year by almost 27 percent, which gave buyers incentive to jump off the fence at the second highest level for the year. Pending sales jumped 36 percent in December, compared to a year earlier, according to the National Association of Realtors.
In the California Association of Realtors 2008 market wrap up senior research analyst Oscar Wei says, "Annual sales of existing homes for 2008 increased 26.7 percent from a revised 2007 figure of 346,940 to 439,740 in 2008. Large year-to-year percentage gains in sales will likely continue … ."
The more telling side of the coin is that prices are declining month by month at a much smaller rate -- only 2 percent from November to December. (Year over year, the average sales price was down 38 percent statewide.
Another sign of the strong recovery is demonstrated in the supply side number. "The unsold inventory index was 5.6 months in December, down from 6.9 months a month earlier and was less than half of the inventory level of 13.4 month a year ago. The index has been below the long run average of 7 months since July 2008, and the current inventory level of 5.6 months was the lowest since March 2006," Wei says.
Thanks Taylor!!
You are now an assistant.
Everybody please welcome WIDESPREAD PANIC
as a new assistant.
I could add you as an assistant, if you would like.
I'd like to become a part of this board!
Texas Land Bank & Capital Farm Credit
http://www.capitalfarmcredit.com/
http://www.texaslandbank.com/
do you know who does land loans?
I am a Commercial Investment Property Broker in Texas, FYI!
December new home sales post monthly 14.7 pct drop
Sales of new homes plunged 14.7 percent in December to the slowest monthly pace on record as the hobbled homebuilding industry posted its worst annual sales results in more than two decades.
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{"s" : "bzh,ctx,dhi,hov,kbh","k" : "c10,l10,p20,t10","o" : "","j" : ""} The Commerce Department said Thursday that new home sales fell in December to a seasonally adjusted annual rate of 331,000, from a downwardly revised November figure of 388,000.
December's sales pace was the lowest on records dating back to 1963. Economists surveyed by Thomson Reuters had expected sales would fall to a rate of 400,000 homes.
For 2008, builders sold 482,000, the weakest results since 1982, when 412,000 homes were sold.
Housing Starts, Permits Hit Record Low in December
New housing starts and permits tumbled to a record low in December, data showed on Thursday, accelerating a downward spiral that has left the economy mired in a recession.
pnwra
--------------------------------------------------------------------------------
Housing starts fell 15.5 percent to a seasonally adjusted annual rate of 550,000 units, the lowest on record, from an upwardly revised rate of 651,000 units in November, the Commerce Department said.
That was the biggest percentage drop since January 2007, when housing starts fell 16.2 percent.
Analysts polled by Reuters had expected an annual rate of 610,000 units for December.
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New building permits, which give a sense of future home construction, dropped 10.7 percent to 549,000 units, also a historic low, from 615,000 units in November. That was also sharply below analysts' estimates of 610,000.
Compared to the same period in 2007, housing starts tumbled 45.0 percent in December and permits fell 50.6 percent. Both were the largest year-to-year drops since January 1991.
More Biz in Tough Market: Success Tips for 2009
With the market being the way that it is, a lot of people are asking me, "What can I do to be more successful in 2009?"
And while I certainly don't have a one size fits all answer, I can say this: Successful Agents do things that make them successful. And the opposite is also true.
Which naturally begs the question, what are these "things" that successful agents do?
Well, I put together a quick list for your review. Enjoy.
Successful Agents read books.
Successful Agents are open to change.
Successful Agents realize that in the world of business, you need to spend money to make money.
Successful Agents have a gameplan.
Successful Agents see the "big picture," but not to the extent that it clouds their ability to make a decision in the here and now.
Successful Agents make adjustments to their business.
Successful Agents are organized…although they're far from neat.
Successful Agents aren't afraid … although they do get nervous from time to time.
Successful Agents are proactive.
Successful Agents are internally motivated.
Successful Agents anticipate changes in their environment and respond accordingly – even in the absence of complete information.
Successful Agents don't watch a lot of TV.
Successful Agents realize that success (be it personal or business) isn't a straight-line endeavor.
Successful Agents are open to new ideas.
Successful Agents are "doers."
Successful Agents take action.
So as we head into the New Year, ask yourself, how successful have you been with your business. Then more importantly, consider how successful you'd like to be going forward.
And yeah, I know the market isn't in great shape right now, and the economy isn't doing so well either, but here's one more thing: Successful people don't complain about things they can't control.
So if you'd like some more ideas on how you can be more successful in today's tough market, just email info@agitoconsulting.com (Subject: More Buyers in Today's Tough Market) and we'll shoot you a copy of our free report.
In the meantime, here's to making 2009 your best year ever!
Looking Back to Look Forward in Home Design
Many housing industry experts predict that the new home of tomorrow will be smaller and smaller. AVID Home Studios, a residential home design firm from Matthews (NC), decided to look back to US Census Data in order to see whether or not those predictions are backed up by events of past economic downturns. If the current recessionary period is anything like those from the past, AVID found, rapidly changing demographic and economic forces can play havoc on future markets catching many home builders off guard with homes "that don't sell." Those changing forces, the company claims, sometimes alter the design of homes -- for better or worse.
"Taking a line from our fractured financial system, we would like to declare that past performances do not guarantee future results," stated Craig Sherrett, Sales and Marketing Director of AVID. "But if history teaches us anything, the current recession will probably not impact new home design. Monetary and financial pressures of the past 35 years seem to have little lasting effect on the houses we want to live in."
Over the past 35 years, economists generally recognize five economic recessions or crises: the 1973 oil embargo, the recession of the early 1980's, the recession of the early 1990's, the recession of the early 2000's, and the current recession that started in 2007. Each of these events had short and long-term influences over the way homes are designed and built, and AVID looked at the following areas: Size, Sleeping Conditions, Facilities, Parking, Stories, Energy, and Appearance.
Size: Most people think that recessions lead to smaller homes. Think again. Historical statistics show that past recessions have merely slowed the trend for larger and larger homes. With the exception of a slight decline in the late 1970's, home sizes have steadily increased. The average home today is fifty percent larger than one-built 25 years ago.
Sleeping Conditions: The recession of the early 1980's seems to be the only influence negatively on the number of bedrooms in newly constructed homes. By the end of the 1980's, that effect was corrected and a general trend toward homes with four or more bedrooms continues to this day.
More Facilities: The events of the early 1980's had influence on the number of bathrooms in new homes, too. The end of the economic challenges quickly reversed a trend of building more homes with only 1 full bathroom. Prior to 1985, data for homes with three or more bathrooms is not available. But, like bedroom allocations, a continued trend toward more bathrooms has continued for almost twenty years.
More Parking: The early eighties also affected the type of garage designed into new homes. The number of homes built with no garages increased to the detriment of homes with two car garages. But that trend quickly revered after the negative economic affects subsided. For the past fifteen years, almost two thirds of all new homes built have two car garages.
Up, not out!: As the size of new homes steadily increased over the past 35 years, so too has the number of multiple storied construction. Again, the eighties recession seems to have the most effect, but for the last fifteen years the market is almost evenly split between single and multiple story homes with a slight deviation occurring since 2001. Even with a retiring baby-boom generation, the number of homes built on one floor seems to be counterintuitive.
Burn, baby burn!: The energy crisis of the early 1970's seems to have the most affect on the inclusion of a fireplace in newly constructed homes. Were we intending to burn our fireplaces instead of our furnaces? Maybe so, but the recession of the early 1980's reversed this trend and today the market is almost evenly split between homes with and without fireplaces. Even with the housing booms in warmer climates, we continue to want the warmth and glow of a fire.
The Way We Look: External siding had considerable changes over the past 35 years. Maintenance free vinyl siding took tremendous market share from an industry dominated by wood. It should be no surprise that low cost, easily installed, low maintenance building products are quickly accepted. Quickly in the building industry is a relative term as it took 20 years for vinyl siding to become the market leader (prior to 1992, vinyl siding sales were included in the "Other" category). Again the economic recession of the early 1980's seemed to affect the market most. Out of this recession new products and technologies were introduced to meet unfulfilled needs in the market. Primarily, vinyl siding products began to take market share from all of the other categories dominating the market in the early years of the new millennium. Recently, that domination is threatened by the introduction of fiber cement siding in the last part of the 1990's.
"These continued increases aren't just to satisfy personal egos, although that will continue to influence the market," states Bill Elliott, AVID's COO. "An aging population combined with improved health care means people live longer. Challenging economic conditions means that they may not have the money to do it."
In the future, AVID predicts that the three basic home characteristics - square footage, number of bedrooms and number of bathrooms – will not change drastically. In fact, AVID predicts the average home size will continue to increase, more four-bedroom homes will be built and those homes will have even more bathrooms. Plus, AVID continued, technology will play a large part of the new home design. New product developments spurred from stricter building codes, energy codes and manufacturer differentiation will allow larger homes to be built for less.
Despite our current economic conditions, at least home designer believes homes will continue to get bigger. Let's pray it's not because the economy forces Americans to live in larger homes with other family and friends who can no longer afford to live on their own.
Hot Market: Michigan Market Not Just About Auto Industry
Ann Arbor, Michigan's market has begun the swing toward normalcy as foreclosures are driving up pending sales statistics, according to the Ann Arbor Area Board of Realtors. Sales have continued to drop, but pendings (the houses that have contracts, but not yet settled) have surpassed year over year numbers for the last five months.
"At the same time, November showed an increase in residential sales prices generally in Chelsea and Dexter as well as an increase in the sales prices of Ann Arbor condos," says real estate agent-blogger Ann Toth, who operates annarbortalks.com.
Economically, the community has held on to jobs because of its diversity. In its annual economic report, the Institute of Labor and Industrial Relations of the University of Michigan, reported that "it is a tribute to the underlying resiliency of the Washtenaw County [where Ann Arbor lies] economy that the job hit overall was not much harder. One sector that has come to the rescue in these times is health care, both private and public."
The best news for homeowners in Ann Arbor is the forecast of more than 5,000 new jobs in the next two years, according to the report. "Ann Arbor's promise is rooted in its endowments of a world-class research university and a well-educated populace. The region does have to weather its immediate problems, but it does not have to change its essence to thrive in the economy of the future. Washtenaw County is already out front on this."
Best Places to Live: Money's list of America's best small cities.
http://money.cnn.com/magazines/moneymag/bplive/2008/index.html
10 worst real-estate markets for 2009
http://money.cnn.com/galleries/2008/fortune/0812/gallery.worst_markets.fortune/index.html
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