By: Dennis Norman
This morning the U.S. Department of Commerce released a report showing the sale of New Homes in January was down 10.2% from December and down over 48% from a year ago.
Prices on new homes continue to drop as well. The median price for January was $201,100, down 2.6% from Decembers Read more…
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By: Dennis Norman
Beginning March 1, 2009, new rules will go in effect by Fannie Mae changing the limitation on the number of mortgages an investor may have and still be eligible for Fannie Mae financing from four to up to ten.
In these very challenging times and, with banks clamping down, this is welcome news for investors! In connection with this change there are also changes being made to the qualifications and guidelines for multiple Read more…
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By: Dennis Norman
Irving Blue, CPM
In part one of this series I gave you some background information on Irving Blue as well as the first part of my E-View TM with him. Now we’ll pick up where we left off.
Professionally, Irving serves or has served on various committees/organizations including: Intstitute of Real Estate Management (IREM), St. Louis Area Real Estate Professionals (SLAREP); 100 Black Men of Metropolitan St. Louis and the American Planning Association. More on Irving in future posts in this series. Read more…
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By: Dennis Norman
I do not like shopping malls. If you like them, don’t take this personal, I just don’t. I understand they are an excellent place for walking during inclimate weather, a good place to kill time or let kids burn off some excess energy but I just don’t think they are as good at their main purpose as they once were. This purpose of course being bringing shoppers together with retailers.
This year, as usual, I did all of my Christmas shopping online from the comfort of my home. Our family was leaving for a family Christmas trip prior to Christmas so it was imortant to order gifts in time to arrive before we left. Two days before we were to leave my wife mentioned to me she needed a new writing journal. I thought I was done shopping for her but decided to add this one last gift. Even though I was reluctant, due to the fact we were leaving town in two days I Read more…
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By: Dennis Norman
After writing a post about the The Fair Housing Act for a blog for the real estate consumer I realized there is information in that article that could be very valuable to the real estate investor as well. While the focus of the article was a report that had just been issued by The National Commission on Fair Housing and Equal Opportunity which stated, among other things, “discrimination continues to be endemic, intertwined into the very fabric of our lives. Ironically, even though more Americans than ever are living in diverse communities, residential segregation remains high……there are at least 4 million fair housing violations in our country every year. That is far too many.” Read more…
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