BloodhoundBlog

There’s always something to howl about.

Author: Greg Swann (page 86 of 209)

Suburban Phoenix Real Estate Broker

November 3, 2008

Are you in Orlando on Friday? Make some time to learn how to make more money in 2009 at BloodhoundBlog Unchained

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Suburban Phoenix Real Estate Broker

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If you’re coming to the NAR Convention in Orlando this year, the vendors are quite literally dying to meet you. It’s been a bad year already for their useless crap, and attendance will be way down this year. They cannot wait to sink their fangs into you.

If you’re going to be in Orlando anyway, pry open your day on Friday for BloodhoundBlog Unchained. Yes, we’re going to charge you ninety-nine bucks for the program, but we’ll give you back twelve hours of ideas on how lenders and Realtors can make more money in 2009. Brian and I wrote and re-wrote and re-wrote the course line-up over the weekend, so we know that even if you can’t make it for the whole day, you’ll get great value for whatever time you can make available.

And to top it off, we’ll do it all without vendors and without their useless crap. Not everything we’re talking about will be cost-free to implement, but everything we’re always talking about is about how to reap maximum bang from minimum bucks. It’s not about being cheap — anti-marketing is worse than no marketing — it’s about being effective.

Even if you’re not going to the NAR Convention, you might give us your Friday. Gas is cheap, but the road ahead is fraught with peril. Make some time for us and we’ll show you everything we’re doing to acquire and convert new business — on the web and in the real world.

Click on the PayPal button shown below to get your $99 ticket for BloodhoundBlog Unchained in Orlando on Friday, November 7th, 2008


















When: Friday, November 7th, 2008, 8 am to 8 pm

Where: Crowne Plaza Hotel and Conference Center, Orlando Airport, 5555 Hazeltine National Dr, Orlando, FL 32812

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November 1, 2008

Restoring a bargain-priced lender-owned home is easy — if you have cash — but a HUD 203k rehab loan makes it easy even if you don’t

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Suburban Phoenix Real Estate Broker

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This is my column for this week from the Arizona Republic (permanent link).

 
Restoring a bargain-priced lender-owned home is easy — if you have cash — but a HUD 203k rehab loan makes it easy even is you don’t

Last week we talked about troubled homes and how they can be restored to livability. That’s fine if you’re an investor with pockets full of cash. But what if you’re an ordinary home-buyer? How can you pick up a bargain-priced home and then refurbish it to its former homey comfort?

If you’re buying with an FHA loan, chances are the home is going to have to be at least partially restored before you can close on it. FHA loans require a more-rigorous appraisal, and any defects rendering the home uninhabitable will have to be corrected before you can proceed.

So if the range is missing from the kitchen, it will have to be replaced. If the water heater is broken, it will have to be repaired. If the pool is green, it will either have to be restored to swimmable condition or drained.

Who is responsible for these repairs? Normally, habitability issues would fall to the seller. But most foreclosure properties are sold “as-is” — take it or leave it. If you have cash, you can pay for the repairs prior to close of escrow and then move in as planned.

But what if you don’t have that kind of money?

One solution is to write your repair issues into your purchase contract. If the seller agrees to restore the pool and replace the range, you’ve dealt with the habitability problem in advance.

Another option is to take advantage of HUD’s 203k rehabilitation program. With a 203k loan the loan underwriter can attach what amounts to a construction loan onto the primary purchase loan. So you could buy a lender-owned home for $100,000 and finance an additional $10,000 to refurbish the kitchen after close of escrow. The appraiser will assess the value the home will have after the improvements have been made.

As you might expect, the fine print is extensive, but for an FHA 203k loan in Phoenix your purchase Read more

November 1, 2008

Defusing the Unabomber: Why individualism will triumph regardless of any temporary setbacks

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Suburban Phoenix Real Estate Broker

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We spend so much time picking at our scabs that we but rarely notice how amazingly rich we are, and how much richer we are getting day-by-day. There are at least a thousand men and women as smart as Aristotle walking the earth right now. If you are a computer geek, you surely know the name of Donald Knuth, but what you may not have considered is that there are 10,000 Knuths alive right now. If you click on this link, you will read an account of an extraordinary scientific achievement, but the most extraordinary thing of all is how ordinary such accounts have become, how commonplace, how much to-be-expected. We are so rich that we cannot even begin to count our riches.

I wrote this essay just over thirteen years ago, when the internet was very young, but it is apposite, I think, today and every day.

–GSS

 
Defusing the Unabomber

I’ve been trying for a week to write something about the Unabomber and his pesky manifesto, and I can’t seem to get the job done. In this voice, the studious essayist voice, I can’t take him seriously. In the Ramblin’ Gamblin’ Willie voice, the only other style I’m working in right now, I can’t make light of the murder of three innocents.

I can make fun of anything. I’ve been writing Willie stories for ten years, and, with few exceptions, all of those stories ridicule the ridiculous. I have 308 words of a Willie story about the Unabomber. In it, he is represented as a cowboy wino who has just sold a pint of blood and who terrorizes strangers by popping paper bags.

But I can’t work with him in even so grotesque and ludicrous a shape. I think of him and in my mind’s eye I see children making angels in the snow. And then I see those children blown to a bloody pulp for committing the horrid act of creating artifacts of technology.

I see William Shakespeare and I hear him denounced as a mere hobbyist. Was he brother to the Queen? A Lord of the court? A lowly actor with a potent muse? Read more

October 30, 2008

Twenty-five most influential bloggers? Influence upon whom? Toward what objectives? Or: Why collectivism makes my skin crawl

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Suburban Phoenix Real Estate Broker

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Brad Coy sends news that I have been named as one of the Inman News “25 Most Influential Bloggers” for 2008. I don’t know this first-hand, since you have to be a member of the Inman Secret Handshake Club to gain access to the “Special Report.” Not quite true: You can also buy the thrilling “Special Report” for only $79.00. That’s only $3.16 an influencer.

But wait: The price just went up to $3.29 an influencer, since, as with last year, I am renouncing this denomination.

I’m sure the people who named me to this list thought they were offering me some sort of distinction. To the contrary, I see it as a diminution of the work we are doing here. Among the influencers are people I see as being active exponents of knowing evil. The rest are decent-enough folks, but I don’t see them, for the most part, as being stout advocates for anything that I regard as being good or vital or important. Nice people, but they’re just people.

Influence by itself is a meaningless standard of value: Fifty million Frenchmen can be as wrong as one. For the most part, the people in the RE.net whose opinions matter most to me already write here — and, of course, those great minds are all but entirely omitted from Inman’s list, even though their influence is more-positive and more-consequential than many of those included.

But none of that matters. What matters is this: I am either right or I am wrong — as are you. Agreement means nothing, endorsement means nothing, beauty contests mean nothing, dipshit lists like this mean nothing. All that matters is the quality of your thinking and and quality of your writing. The world is made by minds, not mobs, and I don’t want my name to be used to contradict that proposition.

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October 30, 2008

NYMag: “NYC Real-Estate Developer Offers ‘Obama Contingency'”

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Suburban Phoenix Real Estate Broker

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New York Magazine:

Holy election tie-in: Erik Ekstein, who’s developing +aRT, an 88-unit Chelsea condo that just began sales last week, says he’s including an “Obama Contingency Clause” in all contracts that go into effect between now and Election Day. If Obama wins, the contract goes through, but if John McCain prevails, buyers can back out — and presumably move to Canada — “with no questions asked.” (He says he came up with the idea after talking to potential buyers, who seemed to be holding off until the election.) Ekstein, a big supporter of the Democratic candidate, says he’s not worried he’ll lose business. “It’s a very narrow window, and we’re fairly confident he’ll win,” he says.

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October 29, 2008

And after Big Mother is finished subsidizing the mortgages of allegedly prosperous, allegedly self-reliant Americans, could it also please wipe their pwetty widdle noses?

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Suburban Phoenix Real Estate Broker

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When there’s taxpayer teat to be suckled, it seems nobody sucks like Realogy. The essence of Rotarian Socialism is bald-faced theft in behalf of the Rotarians. I cannot imagine a more telling, more shameless, more shameful example of Kleptocratic prevarication.

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October 27, 2008

Arthur Laffer: “The Age of Prosperity Is Over”

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The author of the Laffer Curve in the Wall Street Journal:

When markets are free, asset values are supposed to go up and down, and competition opens up opportunities for profits and losses. Profits and stock appreciation are not rights, but rewards for insight mixed with a willingness to take risk. People who buy homes and the banks who give them mortgages are no different, in principle, than investors in the stock market, commodity speculators or shop owners. Good decisions should be rewarded and bad decisions should be punished. The market does just that with its profits and losses.

No one likes to see people lose their homes when housing prices fall and they can’t afford to pay their mortgages; nor does any one of us enjoy watching banks go belly-up for making subprime loans without enough equity. But the taxpayers had nothing to do with either side of the mortgage transaction. If the house’s value had appreciated, believe you me the overleveraged homeowner and the overly aggressive bank would never have shared their gain with taxpayers. Housing price declines and their consequences are signals to the market to stop building so many houses, pure and simple.

But here’s the rub. Now enter the government and the prospects of a kinder and gentler economy. To alleviate the obvious hardships to both homeowners and banks, the government commits to buy mortgages and inject capital into banks, which on the face of it seems like a very nice thing to do. But unfortunately in this world there is no tooth fairy. And the government doesn’t create anything; it just redistributes. Whenever the government bails someone out of trouble, they always put someone into trouble, plus of course a toll for the troll. Every $100 billion in bailout requires at least $130 billion in taxes, where the $30 billion extra is the cost of getting government involved.

If you don’t believe me, just watch how Congress and Barney Frank run the banks. If you thought they did a bad job running the post office, Amtrak, Fannie Mae, Freddie Mac and the military, just wait till you see what Read more

October 26, 2008

Want to learn how to pull maximum search-engine results from minimal SEO efforts? Come see Eric Blackwell at Unchained Orlando

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Suburban Phoenix Real Estate Broker

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Are you coming to BloodhoundBlog Unchained in Orlando? Bloodhound Eric Blackwell will repay your investment all by himself with a talk he has prepared on using easy-to-implement SEO tactics to drive traffic to your web site or weblog. This is guerrilla marketing at its best, and Eric will bring his own unique perspective on the topic: What works, what doesn’t, dumb stunts that will hurt you more than they help and traffic-building techniques you may never have thought of.

This is right up our street, maximum benefit, minimum spend. Click on the PayPal button below to join us in Orlando.

Click on the PayPal button shown below to get your $99 ticket for BloodhoundBlog Unchained in Orlando on Friday, November 7th, 2008


















When: Friday, November 7th, 2008, 8 am to 8 pm

Where: Crowne Plaza Hotel and Conference Center, Orlando Airport, 5555 Hazeltine National Dr, Orlando, FL 32812

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October 25, 2008

Foreclosure homes are sold “as-is” — but most need only minor restoration to bring them back to fully-livable condition

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This is my column for this week from the Arizona Republic (permanent link).

 
Foreclosure homes are sold “as-is” — but most need only minor restoration to bring them back to fully-livable condition

If we were to have a contest for the Valley’s most-gutted home, judging might take a while.

A significant number of homes for sale in the Phoenix area, especially at the low end of the price spectrum, are in the foreclosure process. Not all of these homes are in rough shape, but a lot of them are. At a minimum, buyers of short-sale or lender-owned homes should anticipate painting the walls and replacing the carpets.

But virtually all foreclosure homes will be sold “as-is.” This means, first, that any defects discovered in the inspection process will be the buyer’s responsibility to repair after close of escrow. But the “as-is” addendum also often implies that there may be serious deferred-maintenance issues.

Still worse, many lender-owned homes will have been looted, either by the former owners on their way out or by burglars. Missing ranges, microwave ovens and dishwashers are common. Air-conditioner compressors and hot-water heaters are also absent from many homes. It is not uncommon to see that all of the ceiling fans or all of the knobs on drawers and cabinets have been removed.

My pick for the most-gutted Valley home? The entire kitchen was gone — even the kitchen sink — and the air-handler had been removed from the attic.

I would not want to refurbish that last home, since there is no telling what else has been taken. But for most lender-owned properties, the cost of bringing the home back to livable condition is fairly low.

A new set of kitchen appliances is maybe $2,500. A brand new air-conditioner compressor is around $4,000. A decent water heater is perhaps $1,200 installed. Paint, carpet and tile in the high-traffic areas should run $5,000 for a typical suburban home, less if you do the work yourself.

There definitely are homes to avoid in this market, but there are many, many others that are selling for very low prices. These properties need only very minor restoration efforts to bring Read more

October 24, 2008

Media bias as seen from the inside: “Nothing I’ve seen has matched the media bias on display in the current Presidential campaign”

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Suburban Phoenix Real Estate Broker

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Reporter Michael Malone writing at Pajamas Media:

The traditional media is playing a very, very dangerous game. With its readers, with the Constitution, and with its own fate.

The sheer bias in the print and television coverage of this election campaign is not just bewildering, but appalling. And over the last few months I’ve found myself slowly moving from shaking my head at the obvious one-sided reporting, to actually shouting at the screen of my television and my laptop computer.

But worst of all, for the last couple weeks, I’ve begun — for the first time in my adult life — to be embarrassed to admit what I do for a living. A few days ago, when asked by a new acquaintance what I did for a living, I replied that I was “a writer”, because I couldn’t bring myself to admit to a stranger that I’m a journalist.

You need to understand how painful this is for me. I am one of those people who truly bleeds ink when I’m cut. I am a fourth generation newspaperman. As family history tells it, my great-grandfather was a newspaper editor in Abilene, Kansas during the last of the cowboy days, then moved to Oregon to help start the Oregon Journal (now the Oregonian). My hard-living – and when I knew her, scary – grandmother was one of the first women reporters for the Los Angeles Times. And my father, though profoundly dyslexic, followed a long career in intelligence to finish his life (thanks to word processors and spellcheckers) as a very successful freelance writer. I’ve spent thirty years in every part of journalism, from beat reporter to magazine editor. And my oldest son, following in the family business, so to speak, earned his first national by-line before he earned his drivers license.

So, when I say I’m deeply ashamed right now to be called a “journalist”, you can imagine just how deep that cuts into my soul.

Now, of course, there’s always been bias in the media. Human beings are biased, so the work they do, including reporting, is inevitably colored. Hell, I can show you ten different ways to Read more

October 24, 2008

Two weeks to BloodhoundBlog Unchained in Orlando: Learn how low-cost prospecting techniques can help you dominate in 2009

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Suburban Phoenix Real Estate Broker

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I gather through the grapevine that the NAR Convention is shaping up to be a somber if not quite funereal event. Travel budgets are much constrained. That’s understandable. I can’t see a cost-benefit payoff of going to yet another vendorfest.

But BloodhoundBlog Unchained in Orlando is another basket of oranges. We are about nothing but teachable tools, tips, tricks, tactics and techniques that you can use to start snagging new business right away. Even better, most of the things we talk about are highly-leveraged: Minimum expenditure, maximum results. If you’re a Realtor or lender running in survival mode, we’ll show you how to get more bang for fewer bucks — right now.

If you’re coming to Orlando anyway — or if you already live in the Southeastern United States — make time for us. We’ll show you how to make more money for yourself.

Click on the PayPal button shown below to get your $99 ticket for BloodhoundBlog Unchained in Orlando on Friday, November 7th, 2008


















When: Friday, November 7th, 2008, 8 am to 8 pm

Where: Crowne Plaza Hotel and Conference Center, Orlando Airport, 5555 Hazeltine National Dr, Orlando, FL 32812

See you in two weeks!

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October 22, 2008

How Alexander Hamilton, the father of American Rotarian Socialism, gave birth to the present economic crisis

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Dr. Thomas J. DiLorenzo writing at the Ludwig von Mises Institute:

Hamilton was the intellectual leader of the group of men at the time of the founding who wanted to import the system of British mercantilism and imperialistic government to America. As long as they were on the paying side of British mercantilism and imperialism, they opposed it and even fought a revolution against it. But being on the collecting side was altogether different. It’s good to be the king, as Mel Brooks might say.

It was Hamilton who coined the phrase “The American System” to describe his economic policy of corporate welfare, protectionist tariffs, central banking, and a large public debt, even though his political descendants, the Whig Party of Henry Clay, popularized the slogan. He was not well schooled in the economics of his day, as is argued by such writers as John Steele Gordon. Unlike Jefferson, who had read, understood, and supported the free-market economic ideas of Adam Smith, David Ricardo, John Baptiste Say (whom Jefferson invited to join the faculty of the University of Virginia), Richard Cantillon, and Turgot (a bust of whom still sits in the entrance to Monticello), Hamilton either ignored or was completely unaware of these ideas. Instead, he repeated the mercantilist myths and superstitions that had been concocted by apologists for the British mercantilist state, such as Sir James Steuart.

Hamilton championed the cause of a large public debt — which he called “a public blessing” — not to establish the credit of the US government or to finance any particular public works projects but for the Machiavellian idea of tying the interests of the more affluent to the state: being government bondholders, they would, he believed, then support all of his grandiose plans for heavy taxation and a government much larger than what was called for in the Constitution. He was right. They, along with Wall Street investment bankers who have marketed the government’s bonds, have always provided effective political support for bigger government and higher taxes. That is why Wall Street investment bankers were first in line for a bailout, administered by one of Read more

October 21, 2008

Orson Scott Card on the Fannie/Freddie melt-down: “Would the last honest reporter please turn on the lights?”

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Suburban Phoenix Real Estate Broker

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Orson Scott Card is a Hugo-award-winning science fiction author, having written Ender’s Game and Speaker for the Dead among other best-selling works. In the intro to this article from Meridian magazine, he is presented as being a Democrat, but it would be more accurate, I think, to portray him as an anti-idiotarian, the post-9/11 movement of liberal, conservative and libertarian anti-islamist webloggers. Card is an insanely great writer. You can find him at his best at his Hatrack River site. As always, I don’t have any great use for Republicans, but I think this is a fine excoriation of the suicidal negligence of the mainstream media.

These are facts. This financial crisis was completely preventable. The party that blocked any attempt to prevent it was … the Democratic Party. The party that tried to prevent it was … the Republican Party.

Yet when Nancy Pelosi accused the Bush administration and Republican deregulation of causing the crisis, you in the press did not hold her to account for her lie. Instead, you criticized Republicans who took offense at this lie and refused to vote for the bailout!

What? It’s not the liar, but the victims of the lie who are to blame?

Now let’s follow the money … right to the presidential candidate who is the number-two recipient of campaign contributions from Fannie Mae.

And after Freddie Raines, the CEO of Fannie Mae who made $90 million while running it into the ground, was fired for his incompetence, one presidential candidate’s campaign actually consulted him for advice on housing.

If that presidential candidate had been John McCain, you would have called it a major scandal and we would be getting stories in your paper every day about how incompetent and corrupt he was.

But instead, that candidate was Barack Obama, and so you have buried this story, and when the McCain campaign dared to call Raines an "adviser" to the Obama campaign — because that campaign had sought his advice — you actually let Obama’s people get away with accusing McCain of lying, merely because Raines wasn’t listed as an official adviser to the Obama campaign.

You would never tolerate Read more

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