This little piggy cried wee, all the way to the bank!
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
BGOI nice volume out the gate
I bleed Ford blue but have to admit the recent vehicles from the Jac Nasser and Billy Ford Jr. eras ('98 ~ '06) were as bad or worse than any Ford ever built, and never mind these two buffoons nearly drove the company into the ground. Mulally seems to have finally righted the listing ship.
My construction company has always run Ford trucks since '79, lots of other construction companies do the same. My 2009 F150 works better than any truck I've ever owned. And I still own my '90 Mustang GT I bought new; hanging on to it to remind me where I came from, plus still serves well to clear out the cobwebs now and then (420 supercharged horses will do that).
My wife drives our new Audi...go figure.
TDA shares appeared overnight, P/M .045 ask NICE
Have to manually adjust share cost basis @ TDA, now showing as a 50% gainer for me (in @ .057, better late than never!)
GLTA
Appears momentum continues- 52wk-high tested today.
Congrats to all longs - my how we have grown.
Speaking of which, I wonder if the EXPU bashers will finally cancel out their stale old gtc orders for 04s? Kinda makes me a little nostalgic seeing those .04 bids on L2....
Yip yip, git along little doggies!
Nice "technimental" chart analysis Red! Person mark 4U...
Vanomatic, RTGV wake up call?
RTGV BGOI EXPU looking good this week
BGOI new HOD, should get interesting @ happyhour...
RTGV just woke up w/ filing today.
Bout time, my shares r so old they smell like mothballs, lol.
BGOI--> last call for alcohol, F/S record date is today
Not to mention authorized shares just reduced 25%!
BEASTLY run ahead of aquisition news...
BuckeyeMike you've restored a bit of my confidence with your coherence of thought - person mark for you!
CDEvPAAS looks like I made the right move going into PAAS back in November, but still holding some free $9.50 shares here, so GLTA.
I am really starting dislike the smell of this little turd. Still averaging down now and then, but really, starting to feel like I'm beating on a dead horse here.
Merger/aquisition story about to unfold...buckle up everyone.
What's this? EXPU earned more profit in Q3'09 that they earned in all 12 months of 2008 and first half of '09? That's terrible news, right? I mean, so many bashers are crawling out from under their rocks today to say that's really bad, so it must be.
Eh, maybe best to listen to them and sell off all my shares in this profitable company, before they grow too large and profitable for me to handle. Thanks for the great advice bashers!
Sell baby sell! Eager buyers are waiting!
Why is Expert hiring new originators like mad these last few months? Why decide to merge with a privately-owned mortgage company just to get their hands on a bunch more originators in one fell swoop? What's with this originator hiring FRENZY at Expert?
1. Fannie and Freddie and the FHA have decided to extend Christmas for the Miami Beach condo market. They are making special exemptions to their rules on condo loans for the Miami area ONLY. Not even Orlando, the worst-hit condo market in the country, is getting this kind of special treatment from the government. Result: Expert is expecting to see an explosion in FHA condo loans.
2. The FDIC and the banks are going into mortgage-workout overdrive. The FDIC is demanding that the big banks do everything possible to workout upside-down loans. So the big banks are going to accept pennies on the dollar to get defaulted or near-default Miami-area loans off their balance sheets this year. Result: Expert is likely to see an explosion in refinanced loans as they help people out of the hole they fell into.
3. Some very big real estate players from NYC and elsewhere have been quietly buying up hundreds of vacant Miami Beach condos in bulk quantities, at firesale prices. They have various plans for these units, some are going to be converted into rentals, others will be sold at extremely attractive prices (but still at a profit for these condo "vultures"). Result: Expert is likely to see an explosion in loan originations for the buyers of these units.
4. Back in November, Obama extended the tax benefits for home buyers into April 2010. As a result, some people who would have bought a home in 2009 decided to wait until Q1 2010 to buy, for tax purposes. Result: Expert should see many of these people enter their new locations to find out more.
Note that it was recently announced by the MBA (Mortgage Bankers Association) that as of 1/08/10, overall mortgage writing activity is up 14.3% week over week vs. last week of 2009, with 71.5% of all the new mortgage-writing activity being in refis. Result: Expert is probably seeing a bunch of Refi apps being filled out this week, and will see a bunch in the coming weeks as well.
PED shazam!
A very bullish prediction MD, and why not? People are beginning to recognize and acknowledge EXPU's management team, how they've hit the ground running in 2009, with no signs of letting up for 2010. It would seem the Ricos have big dreams AND motivation.
RE Fontainbleau: Superbowl & Probowl both in Miami this year! Probowl Jan 31 and Superbowl a week later on Feb 7. Would be great if EXPU opened the kiosk before then to catch all the bowl game people in town for the week.
But regardless of packed hotels the end of next month, there is significant interest RIGHT NOW in cheap real estate in the Miami Beach area. People are flying in literally from all around the world, just to look into Miami Beach vacation residences at fire-sale prices.
Cruise control now. You must be smiling a BSEG Vant!
TLCV catching up with GETA
Steady buying today, very nice.
For those questioning investing anywhere near R.E. today, perhaps this article might help.
"Cleaning Up After Real Estate Debacle"
http://www.crainsnewyork.com/article/20091213/SMALLBIZ/312139983
The article makes it clear that some very smart new players are not only looking into the RE financing market right now, they are diving into this market head-first RIGHT NOW to get a jump on the less nimble players.
An excerpt:
"The new entrants see a gold mine in helping clients restructure loans, find alternative sources of capital, form partnerships or sell assets.
'There is certainly going to be a need for specialized knowledge,' says Tom Geurts, director of economic affairs at New York University's Schack Institute of Real Estate. 'A lot of the big banks have been marginalized, so there is an opportunity for [the new entrants] to create a niche.'"
My sentiments exactly, wrt EXPU.
Neighborhood Banks are virtually frozen in their tracks, too afraid to lend out much money. Enter EXPU, to capitalize on the growing need for specialized knowledge and connections in the local North Miami real estate mortgage and financing arena.
PS: one other significant 2009 milestone not mentioned here recently: the South Florida coastal area is a huge condo market, and there are some screaming buys available all over down there right now. In 2009, the FHA greatly relaxed their requirements for financing condos; as long as a condo building is at least 50% occupied, buyers can now get an FHA loan for condo units in addition to single family dwellings. As a result, FHA loans on condos went from 5% in 2008 to over 20% of the total in 2009.
EXPU looking good, mean & green!
BGP nice ricochet shot
"Latest Headline" in Ibox was created Oct19.
Anyone think this will wake up again before 2010?
I almost forgot about this sleeper, nearly fell off my radar!
CDE vs. PAAS - pros, cons, opinions?
Thinking about moving a portion of my PM portfolio from CDE into PAAS. CDE stock has done better last few months, PAAS better over last 3 years. PAAS has (IMO) better management, better geographical spread - not liking political climate in Bolivia or Alaska for CDE. OTOH, if Alaska comes online for CDE, look out!
PAAS vs. CDE - pros, cons, opinions?
Thinking about moving a portion of my PM portfolio from CDE into PAAS. CDE stock has done better last few months, PAAS better over last 3 years. PAAS has (IMO) better management, better geographical spread - not liking political climate in Bolivia or Alaska for CDE. OTOH, if Alaska comes online for CDE, look out!
This P&D needs more P less D --> +230% needed just to get back to the 200ma! ouch.
Per last (2nd/last amend.) merger PR: As a reminder to shareholders, the share structure of NMTV provides for all outstanding common shares at closing, 42,435,315 shares, be held by RTGV shareholders. The new shareholders will receive Preferred Shares (1,273,059) which are restricted for a year and can then be converted at a ratio of 1:100. The voting rights for the preferred shares are also at the same ratio. If all Preferred Shares are fully converted this will represent 75% ownership of the Company.
Source: http://www.smallcapwatch.com/pressRelease.asp?ID=57176
Please excuse my density, could someone plug in an example number, say for a 10,000 share block of RTGV, and explain what happens per above terms and conditions?
Also, in the above release, who is "new shareholders"? Is that the RTGV people who (afaict) will hold 75% of the new company, or the NMTV people, who (afaict) will be holding 25% of the new company?
Thanks in advance.
"Of the region's 18,277 pending housing purchases, 52 percent or 9,581 of the contracts are for condos and townhouses, while 48 percent or 8,696 of the contracts are for single-family homes."
*Recall EXPU press release from June '09? The FHA relaxed standards for condo loan backing - as long as the condo building is at least 51% occupied, condo buyers can now get FHA loans in as little as two weeks, with as little as 3.5% down. One year ago, only 2% of condo loans were FHAs, this year it is 20%.
Recall EXPU is one of maybe 4 or 5 FHA-capable loan originators in the North Miami area, set up for one-stop single-family, multi-family, condo, jumbo, and reverse-mortgage FHA-backed loans.
South Florida's year-end home sale surge.
Pending homes sales hit high mark in South Florida
November 24, 2009 03:15PM By Paul Bomberger
The number of residential properties under contract to be sold in South Florida continued to rise, nearly doubling from this time last year.
A report from Miami-Dade County-based real estate consulting firm Condo Vultures Realty said there are 18,277 pending sales of existing single-family homes, condominiums and townhouses in Palm Beach, Broward and Miami-Dade counties, as of Nov. 16. Condo Vultures drafted the report using data from the Florida Association of Realtors.
The new report provides strong evidence that more buyers than ever in the tri-county region are responding to the raft of deeply discounted residential properties and taking advantage of the federal government's homebuyer tax credits.
Scott Agran, broker and owner of Lang Realty in Boca Raton, said his agency saw a "push'' by buyers over the last month because they knew the tax credits were set to expire at the end of November.
Then two weeks ago, President Barack Obama extended until April 30, 2010, the $8,000 tax credit for first-time homebuyers and added a $6,500 tax credit for buyers relocating after living in a home for at least five years.
Amanda Fell, who had been renting for three years, recently jumped at the chance to buy for the first time to take advantage of the tax credit. Fell bought a townhouse via short sale in PGA National in Palm Beach Gardens for $131,000.
"You'd be silly not to buy when you're going to get $8,000,'' she said.
The latest South Florida pending housing sales total is almost double the 9,302 properties that were under contract near the end of November last year, the Condo Vultures report says.
"[The] South Florida residential resale market with some effort is poised to surpass the 20,000 pending sales threshold in 2010,'' said Peter Zalewski, a principal with Condo Vultures.
The bulk of the region's record residential pending sales activity is taking place in Miami-Dade County, with 8,293 properties under contract, and Broward County, which has 7,349 properties under contract, according to the latest figures. There are 2,635 pending sales in Palm Beach County.
Of the region's 18,277 pending housing purchases, 52 percent or 9,581 of the contracts are for condos and townhouses, while 48 percent or 8,696 of the contracts are for single-family homes.
South Florida has been struggling this year to recover from its three-year housing market slump, following the boom from 2000 through 2005. During the steep downturn, residential property prices sunk to 2003 levels.
And prices keep falling. According to ZipRealty, a national real estate brokerage, home sellers in the Miami-Fort Lauderdale-West Palm Beach region cut their prices in October by an average of 15.7 percent, or $40,000, the biggest slice among major metropolitan areas nationwide.
The low prices and appealing mortgage rates have finally given the region's housing market momentum, as confirmed by the new peak in sales contracts. In fact, the 30-year, fixed-rate mortgage rate stands at an average of 5.06 percent, according to a recent Bankrate.com survey of large national lenders; that's the lowest rate in the 24 years Bankrate.com has conducted the weekly survey.
Real estate agents see return of foreign buyers
Dollar’s plunge coupled with faith in eventual economic recovery helps sales
AP - updated 3:46 p.m. ET, Sun., Nov . 22, 2009
Canadian investor Arthur Wong is buying condos in Las Vegas and Phoenix like a shopper at Costco: In bulk, with slashed prices.
Wong, president of Optimus U.S. Real Estate Fund, has bought 60 condos at heavy discounts from developers in financial trouble. Wong paid about $62,500 each for 18 Las Vegas condos that once were priced at about $250,000 apiece.
"This could be a once-in-a-generation opportunity for real estate investment," said Wong, whose Calgary, Alberta-based fund has already invested $5 million cash and will spend millions more in the U.S. Southwest over the next several months.
While foreign real estate investment in the first six months of 2009 was lower than last year's level, real estate agents from New York to Las Vegas say purchases have increased rapidly in recent months.
Foreign investors have long been attracted to U.S. residential real estate, drawn by the market's stability compared with other countries. But the dollar's descent in the past six months has made makes homes even cheaper for foreigners, and prices are showing signs of stability.
International investors bought 154,000 homes and condos in the 12-month period ending in May, down nearly 10 percent from 170,000 for the same period a year earlier, the National Association of Realtors reports.
But since June, the dollar has tumbled by 9 to 11 percent against currencies like the Japanese yen, the European euro and the Canadian dollar. The Brazilian real has gained 17 percent against the dollar in the past six months.
Buyers from Brazil, Canada, France and the Netherlands, for example, have paid mostly cash for second homes ranging from $6 million to $15.5 million in condo buildings like 40 East 66th Street, a stone's throw from Central Park and steps from shopping, restaurants and nightlife.
"(Foreign investors) love to have everything available to them once they walk out their front door," said Barbara Russo, an agent with The Corcoran Group Real Estate in Manhattan.
Manhattan real estate agent Cynthia Crowley recently spoke with three different Israeli investors who have complained about rising real estate prices at home.
"They want to buy," said Crowley, an agent with Olshan Realty in New York. "This is not tire kicking."
Foreign investors love floor-level prices and the limp dollar but also are confident in a long-term recovery of the U.S. economy and the housing market's resurgence. Some want vacation homes, while others are looking for rental income.
Buyers from Canada, India, the Middle East, Mexico, and Venezuela like Houston's neighborhoods and its economy, which benefits from strong oil and health care industries.
"They also like to gravitate to where they have friends or family," said Bill Gottfried, managing director of Gottfried International Estates.
Foreign investors often pay cash, or offer down payments of 40 percent or more, because financing is difficult to get. Nearly half paid cash in the 12-month period ending in May, the Realtors group reports.
Florida leads the country in the amount of international buyers, accounting for nearly a quarter of foreign purchases. The Sunshine State was followed by three gateway states with warm climates — California, Texas, and Arizona.
Miami home prices are down by half from the peak period of late 2006 due to foreclosure sales and a glut of unsold units. With the dollar hitting a 15-month low this week against the euro, the bargains are enticing. Investors are buying single-family homes or condos for two-thirds the cost three years ago.
Peter Zalewski, a Miami-based real estate agent, said at least seven bulk deals involving foreign condo buyers have taken place in downtown Miami alone, with investors coming from Argentina, Canada, Colombia, Italy, Norway, and Venezuela. Similar deals also have taken place in heavily-populated Broward County and ritzy Palm Beach County.
Claudia Bacelar, an Esslinger Wooten Maxwell real estate agent, has seen more South Florida inquiries from Brazilian, Canadian and British buyers of second homes, many of whom gravitate to condos with great views in the $800,000 range. And they pay cash.
Argentina native Marco Bordoni bought a $860,000 house on a deepwater canal in the Golden Isles neighborhood last month. An importer-exporter of perfumes, he plans to spend half his time in South Florida on business.
Bordoni is spending $450,000 to remodel the house, which was valued at $1.2 million four years ago, said his agent, Scott Patterson.
"Prices fell enough that I could buy a property I would not be able to buy two years ago," said Bordoni, 30.
Tax credit, low prices drive Broward and Palm Beach home sales up in October (November 23, 2009 03:30PM)
The volume of October home sales was up in both Broward and Palm Beach counties, helped along by the homebuyer tax credit and rock-bottom prices. According to the Florida Association of Realtors, Broward saw a 32 percent increase and Palm Beach saw a 36 percent increase in existing home sales. Median prices were $211,600 and $243,900, respectively. For Broward, that meant a 16 percent price drop from last year, and for Palm Beach, the drop was 8 percent. Existing condo sales experienced similar trends. The extension of the tax credit may actually drive down sales in the immediate future, however, because buyers will lose the sense of immediacy, analysts said. [Sun-Sentinel]