While depressing for some, this is not a circumstance that has to happen. People can retire. There is an awesome government program for Baby Boomers. Just visit my on line presentation. Here.
Tuesday, December 28, 2010
Baby boomers near 65 with retirements in jeopardy - Yahoo! News
Baby boomers near 65 with retirements in jeopardy - Yahoo! News
Wednesday, December 22, 2010
GDP (per capita) statistics - countries compared - NationMaster
GDP (per capita) statistics - countries compared - NationMaster
The US ranks 6th in GDP. The collateral view for investors is that there are only 5 countries where currency will be more valuable than the USA.
Tuesday, December 21, 2010
Reverse Market Insight » It’s Beginning To Look A Lot Like Growth – Industry Trends October 2010
Reverse Market Insight » It’s Beginning To Look A Lot Like Growth – Industry Trends October 2010
Finally there has been a change of direction in the sales of Reverse Mortgages.
Thursday, December 16, 2010
baby boomers on social paths
Old fogies catching up on social networking, online video
Published with Blogger-droid v1.6.5
Friday, December 10, 2010
Reverse Mortgage Industry Calls Consumer Union Report Highly Misleading | Reverse Mortgage Daily
Reverse Mortgage Industry Calls Consumer Union Report Highly Misleading | Reverse Mortgage Daily
You would think that some organizations with the best of intentions, like both Consumer's Union and the Reverse Mortgage industry would get their stories straight. I find it amazing that issues like this come up. What I really find difficult to grasp, however, is that the Reverse Mortgage folks don't bring the Realtor's into their stream of value. Their is a crisis in equity in some markets and some neighborhoods. Every reverse mortgage option be it re-financing or purchasing is subject to the valuation, and tax assessment of the homeowner's property. Mortgage lenders and borrowers need to include the intelligent Realtor in the stream of information gathering when a transaction such as an RM is being considered.
Thursday, October 28, 2010
United States Internet and Facebook User Statistics
United States Internet and Facebook User Statistics
Here are the most recently release numbers outlining the Facebook vs Internet user reach. Note that Washington DC has a 160% penetration. This implies that federal agencies and politicos are running multiples of themselves on Facebook.
Wednesday, October 20, 2010
Gmail - ReverseIQ: Analysis from Reverse Market Insight for 10/20/2010 - belgeri@gmail.com
Gmail - ReverseIQ: Analysis from Reverse Market Insight for 10/20/2010 - belgeri@gmail.com
As we dive deeper into August’s year to date results, an interesting city stands out this month, similar to how Baltimore bucked the trend earlier this year. Many areas of the country are still fighting their way back from low volumes in the past year, but Philadelphia has recovered faster than many others. It’s the only city in our top 10 this year that is growing year to date (+4.3%). Check out the cha
Thursday, October 14, 2010
FBI Reports a Nationwide Increase in Mortgage Fraud Investigations - EIN News - News Media Monitoring
FBI Reports a Nationwide Increase in Mortgage Fraud Investigations - EIN News - News Media Monitoring
October 14, 2010 /24-7PressRelease/ -- Once the dust had cleared from the recent economic collapse, the media focused a great deal of blame on one group: financial professionals involved in real property transactions who were accused of fudging documents, lying to buyers, falsifying appraisals and other illegal activities. New data from one federal agency reveals a growing interest in investigating all types of mortgage fraud and helping the Department of Justice pursue convictions.
The latest annual mortgage fraud report from the Federal Bureau of Investigation (FBI) reveals that the agency has taken a greater interest in crimes involving financing of homes and other real estate. From 2008 to 2009, investigations rose over 70 percent. The stakes are high: two-thirds of pending investigations during 2009 involved losses totaling more than $1 million....
Tuesday, October 12, 2010
Homebuyer tax credit: 950,000 must repay - Sep. 9, 2010
Homebuyer tax credit: 950,000 must repay - Sep. 9, 2010
NEW YORK (CNNMoney.com) -- Nearly half of all Americans who claimed the first-time homebuyer tax credit on their 2009 tax returns will have to repay the government.
According to a report from the Inspector General for Tax Administration, released to the public Thursday, about 950,000 of the nearly 1.8 million Americans who claimed the tax credit on their 2009 tax returns will have to return the money
Friday, October 8, 2010
Pathways for Change
Pathways for Change
This is a preview article from the Fall 2010 issue of Americas Quarterly (release date: October 25, 2010), which will feature articles from top experts on the economics, politics, challenges, and advances in education in the Western Hemisphere. Subscribe to AQ. Or, read more about the Fall issue.
Education entrepreneurs can positively influence educational reform in a number of ways. But regulations, inertia and a culture that discourages entrepreneurship are choking off initiative and broader change.
The celebration of two centuries of independent republican life in Latin America is an appropriate time to assess past achievements, current challenges and future opportunities. Nowhere is that critical examination more timely and necessary than for the educational institutions that were created precisely to prepare Latin American citizens for self-rule. Schools and universities in Latin America were reinvented after independence to allow the new independent political order to flourish.
Unfortunately, politics, economics and excessive bureaucratic regulations have failed the original intentions of the region’s educational founders and stifled innovation.
It’s useful, as a start, to reexamine those original intentions to remind ourselves of what still needs to be done. Francisco de Miranda, Simón BolÃvar, José de San MartÃn, Miguel Hidalgo, and José Artigas shared many of the ideas of eighteenth-century Enlightenment thinkers regarding the role of education. They were aware, for example, of the views of Jean-Jacques Rousseau regarding the role of education in supporting the legitimacy of a social contract of rights and liberties, and in maximizing human potential.
Social Networking - Add-ons Gallery
Social Networking - Add-ons Gallery
Saving time tools for the Internet Explorer user world. In this case I’ve used “Windows Live” Journal system to feed my Google Blogger…
campbellsurveys.com/REAgent1008/HousingTrendsUpdate_Sep10.pdf
campbellsurveys.com/REAgent1008/HousingTrendsUpdate_Sep10.pdf
The financially capable home buyer is low balling the undistressed.
The investors are buying more and more.
First time buyers are hard to find.
That about sums up the pdf.
Monday, October 4, 2010
HECM Saver > Low-Cost HUD Reverse Mortgage
HECM Saver > Low-Cost HUD Reverse Mortgage
Somebody really screwed this up. While the Gov still offers the Standard Home Equity Conversion Mortgage Purchase, it seems that isn't all. Now they are offering one that gives you less money and you are suppose to be happy to do it. go figure.
I don't think that the government nor the mortgage industry truly understand who is turning to the Reverse nor why. First the mortgage industry hasn't effectively brought the Realtor on board for the marketing of the golden fleece (pardon the metaphor) of the FHA product-HECM Purchase. Second, the average age of RM users has dropped to 62 and finally most RM users are taking the credit line (66%).
These three facts are not disputed and they have significant meaning.
No Realtors
In 2009 there were 105,000 reverse mortgages of which 1,205 were Purchases. So what? Well that means the 1,205 Baby Boomers bought retirement homes for about 48 cents on the dollar. They created a hedge agains the depreciating home value and alleviated the losses from the sale of their home in that purchase. Pretty brilliant financial move I'd say.
Boomer Realization.
In June the Bank of America announced that Reverse Mortgage users' demographic had fallen from an average of 77 year olds down to 62 year olds. Considering the fact that there are 8,000 people turning 62 every day in the U.S. that would normally bode well for their industry. The facts speak otherwise however since RMs are basically falling down through the basement floor (-62%).
Credit Line option.
The myth of the Reverse Mortgage is that it is for desperate people, seniors with fixed income but some remaining credit. If that's the case then why is it that 66% of all Reverse Mortgages are "Line of Credit" buyers. Could it be that taking a line of credit and NOT TOUCHING THE PRINCIPAL might be creating a natural hedge against inflation? You can take that to the bank. Consider that a Boomer who takes a $350,000 Reverse Mortgage Line of Credit today at the age of 62 and leaves it alone will be looking at a $600,000 plus credit line at the age of 72.
The HECM Saver is the governments answer to nothing. Boomers need to treat the Reverse Mortgage like they are looking at Social Security--get it now before some idiot in congress tries to take the money for a bridge remodel for his buddies back in hornswagle county...
Hometown Station AM 1220 - Santa Clarita Radio - Tax Changes Worth A Closer Look
Hometown Station AM 1220 - Santa Clarita Radio - Tax Changes Worth A Closer Look
| Tax Changes Worth A Closer Look |  |  |
| Sunday, 03 October 2010 12:00 |
|
Currently, capital gains tax percentages for Santa Clarita Valley residents are at historic lows. This tax break applies to all United States citizens, but it may not last much longer. Capital gains tax rates are generally much lower than taxes on regular income, making them especially appealing.Qik to YouTube and then on to Cooliris
www.qik.com is an awesome tool which will allow me to simultaneously deliver live content from the field and store that content into both youtube and other social media for automatic posting in other places. It should (I'll find out today) also give me a means to pull the audio of recording GCs, edit the sound to text and then push it back through BuilderWerks for the property managers of the world.
layouts have their issues.
The previous posting was a test (and it didn't work very well) of my ability to pull content out of a secure web page. That content was a form developed by Coldwell Banker.
New Aging Explores Trajectory of Science, Aging and Architecture for Senior Housing
New Aging Explores Trajectory of Science, Aging and Architecture for Senior Housing
New Aging Explores Trajectory of Science, Aging and Architecture for Senior Housing
October 3rd, 2010 · No Comments
What is necessary to live longer besides a better living space? Eat less and exercise more according to presenters at the New Aging conference held last Friday and Saturday at the University of Pennsylvania School of Design. The conference brought together a number of senior living architects and industry participants from across the Mid-Atlantic, Northeast and a variety of international locations such as China, Japan, Germany and the United Kingdom. The architecture conference, with over 200 attendees, had academics, architects and civilians explore ideas on the process of aging and how living spaces will be designed or redesigned to meet the needs of an aging global population.
Sunday, August 29, 2010
Famed Investor Bill Gross Calls For Massive Taxpayer-Backed Mortgage Refinance Initiative
Famed Investor Bill Gross Calls For Massive Taxpayer-Backed Mortgage Refinance Initiative: "The head of the world's biggest bond fund, bemoaning the slow economic recovery, reignited debate Tuesday by publicly supporting a massive new refinance program currently roiling the mortgage bond market by describing it as a form of fiscal stimulus that wouldn't add to the deficit."
Treaty Investor Visa (E-2) - Avvo.com
Treaty Investor Visa (E-2) - Avvo.com
he E-2 classification is authorized for a national of a country with which the United States has a commercial treaty, who is coming to the United States solely to direct and develop the operations of an enterprise in which he or she has invested, or is actively involved in the process of investing, a substantial amount of capital.
Sunday, August 22, 2010
Can a reverse mortgage help you have a better retirement?
Can a reverse mortgage help you have a better retirement?: "Three years ago, Loxahatchee resident James Gamble was preparing for retirement. His home was paid off, he wasn't married, and he has no children needing an inheritance.
So to finance his retirement - and a summer home in West Virginia - Gamble took out a reverse mortgage, getting about $200,000 out of a house he paid an estimated $85,000 for in 1994."
So to finance his retirement - and a summer home in West Virginia - Gamble took out a reverse mortgage, getting about $200,000 out of a house he paid an estimated $85,000 for in 1994."
Thursday, August 19, 2010
The American dream of the Chinese rich
The American dream of the Chinese rich: "A US property agent draws potential Chinese customers with promises of green cards at a real estate fair in Beijing in this file picture taken in late June. (Photo by Wu Changqing for China Daily)
Yvonne Liu, 22, wanted to stay in the United States after her university studies, and her mother, a 46-year-old wealthy Chinese businesswoman, figured out a way to make that happen.
Lily Zhang flew to the US to look for investment opportunities. Her plan was to move some of her international trade business from the city of Xiamen in southern China to southern California."
Yvonne Liu, 22, wanted to stay in the United States after her university studies, and her mother, a 46-year-old wealthy Chinese businesswoman, figured out a way to make that happen.
Lily Zhang flew to the US to look for investment opportunities. Her plan was to move some of her international trade business from the city of Xiamen in southern China to southern California."
Survey Shows Europeans Wish to Retire Abroad, In the Sun
Survey Shows Europeans Wish to Retire Abroad, In the Sun: "Survey Shows Europeans Wish to Retire Abroad, In the Sun
August 18th, 2010 � No Comments
Europeans retirees want to retire in warmer climates and predominantly in countries other than their own according to a new survey of 7,500 European workers from Aon Consulting.� Spain was the most popular retirement destination and also had the highest percentage of respondents who were citizens that wanted to remain in their home country for retirement."
August 18th, 2010 � No Comments
Europeans retirees want to retire in warmer climates and predominantly in countries other than their own according to a new survey of 7,500 European workers from Aon Consulting.� Spain was the most popular retirement destination and also had the highest percentage of respondents who were citizens that wanted to remain in their home country for retirement."
Wednesday, August 18, 2010
FT.com / Commodities - Florida output forecast dents orange juice
FT.com / Commodities - Florida output forecast dents orange juice: "Florida output forecast dents orange juice
By Gregory Meyer
Published: August 17 2010 20:11 | Last updated: August 17 2010 22:22
The forthcoming orange crop in Florida, the world’s second-largest producing region, will be more than 10 per cent larger than last season, according to two closely watched private sector forecasts.
The new production outlook sent the price of frozen concentrated orange juice futures to a three-month low, but on Tuesday prices rebounded slightly.
EDITOR’S CHOICE
Investors remain keen, if cautious, on commodities - Aug-17
Investors turn to commodities when other markets fail to deliver - Aug-17
A centuries-old concept, futures trading has kept pace with the times - Aug-17
High demand for coffee’s perfect brew - Aug-17
Global oil-price benchmarks are not foolproof - Aug-17
Central banks and investors weigh in as gold market transforms - Aug-17
Orange juice is a $20bn industry with prices affecting farmers in Florida and Brazil, processors, trading houses and bottlers such as Coca-Cola and PepsiCo.
Florida is the world’s second-largest orange growing area after S�o Paulo state in Brazil. But its orange crop has dwindled as disease and real estate development have taken their toll. The state’s most recent crop was 18 per cent lower than the previous season."
By Gregory Meyer
Published: August 17 2010 20:11 | Last updated: August 17 2010 22:22
The forthcoming orange crop in Florida, the world’s second-largest producing region, will be more than 10 per cent larger than last season, according to two closely watched private sector forecasts.
The new production outlook sent the price of frozen concentrated orange juice futures to a three-month low, but on Tuesday prices rebounded slightly.
EDITOR’S CHOICE
Investors remain keen, if cautious, on commodities - Aug-17
Investors turn to commodities when other markets fail to deliver - Aug-17
A centuries-old concept, futures trading has kept pace with the times - Aug-17
High demand for coffee’s perfect brew - Aug-17
Global oil-price benchmarks are not foolproof - Aug-17
Central banks and investors weigh in as gold market transforms - Aug-17
Orange juice is a $20bn industry with prices affecting farmers in Florida and Brazil, processors, trading houses and bottlers such as Coca-Cola and PepsiCo.
Florida is the world’s second-largest orange growing area after S�o Paulo state in Brazil. But its orange crop has dwindled as disease and real estate development have taken their toll. The state’s most recent crop was 18 per cent lower than the previous season."
USCIS - EB-5 Stakeholder Meeting
USCIS - EB-5 Stakeholder Meeting: "EB-5 Stakeholder Meeting
The Office of Public Engagement and the Service Center Operations Directorate invite you to participate in our upcoming stakeholder engagements to discuss the EB-5 (Immigrant Investor) program. The next engagement will take place on October 14, 2010 at 1:00PM (Eastern Time). To help you plan your participation, we have also established the following meeting dates for fiscal year 2011. Please note that some meetings will be in person and by telephone and some meetings will be via teleconference only.
Each engagement will be an opportunity for USCIS to share information on the EB-5 program and address stakeholder’s related topics of interest. We ask that you submit suggested agenda topics or themes to us by the deadline shown for the corresponding event. An open forum for questions and answers will be provided at each of these engagements, but please bear in mind that we will not address case-specific inquiries."
The Office of Public Engagement and the Service Center Operations Directorate invite you to participate in our upcoming stakeholder engagements to discuss the EB-5 (Immigrant Investor) program. The next engagement will take place on October 14, 2010 at 1:00PM (Eastern Time). To help you plan your participation, we have also established the following meeting dates for fiscal year 2011. Please note that some meetings will be in person and by telephone and some meetings will be via teleconference only.
Each engagement will be an opportunity for USCIS to share information on the EB-5 program and address stakeholder’s related topics of interest. We ask that you submit suggested agenda topics or themes to us by the deadline shown for the corresponding event. An open forum for questions and answers will be provided at each of these engagements, but please bear in mind that we will not address case-specific inquiries."
Reverse Market Insight � Reverse Mortgage Borrower Analysis, Part 2
Reverse Market Insight � Reverse Mortgage Borrower Analysis, Part 2: "Since Line of Credit (LoC) is the payment plan option selected by a vast majority of borrowers and is currently mandatory on Fixed HECMs due to full draw requirements, we’ve narrowed our focus to just the HECM ARM population and chopped off the top 60% of the chart to see the change more clearly.
Under 8% of HECM ARM borrowers in their 60s select one of the four monthly payment options (excluding LoC), whereas 32% of those over 100 select a monthly payment option. Given the greater tenure payments available to older borrowers this would seem more attractive to older borrowers, but the level of change surprised us.
So what does all this mean? We suspect that many will see product development opportunities and others likely see sales and marketing implications. We’re as interested as everyone else to see what this means for our market, but the resounding bottom line remains that the reverse mortgage market is in great need of market segmentation and diversity in our approaches to growing the business."
Under 8% of HECM ARM borrowers in their 60s select one of the four monthly payment options (excluding LoC), whereas 32% of those over 100 select a monthly payment option. Given the greater tenure payments available to older borrowers this would seem more attractive to older borrowers, but the level of change surprised us.
So what does all this mean? We suspect that many will see product development opportunities and others likely see sales and marketing implications. We’re as interested as everyone else to see what this means for our market, but the resounding bottom line remains that the reverse mortgage market is in great need of market segmentation and diversity in our approaches to growing the business."
Reverse Market Insight � Reverse Mortgage Industry Trends – June 2010
Reverse Market Insight � Reverse Mortgage Industry Trends – June 2010
Another month in the rear view mirror, and we’ve officially reached the halfway point for the year. We’ve already seen a bounce in volumes from the May low and signs of life from the broker side of our industry, but who are the winners and losers among the states and metro markets around the country?
- Texas and Maryland continue to outperform among the top 10 states, down -26% and -23%, respectively
- Maryland’s strength is mostly attributable to the mini refi boom in Baltimore, which remains the only positive performer among the top 10 cities, up 12%
- Houston is the engine for Texas, down just -11%
- Philadelphia is a surprising metro we haven’t talked much about lately, but is down just -5% from last year at this time
- California has a virtual lock on average loan size growth, with 9 of the top 10 cities – but looking at total loan volume growth is an entirely different story. New Orleans, Baltimore, Tulsa and Santa Fe all rang up more loan volume by Maximum Claim Amount dollars than last year.
Saturday, August 14, 2010
Internal USCIS memo suggests improvements for EB-5
Internal USCIS memo suggests improvements for EB-5: "Some EB-5 regional centers are in Targeted Employment Areas (TEAs). Federal law defines such regions as “a rural area or an area that has experienced high unemployment of at least 150 percent of the national average.” These locations can be attractive to foreign investors, as only a $500,000 investment is needed to meet the requirements of the EB-5 visa program.
According to the USCIS, China produced the most successful investors in the EB-5 visa program with 1,979. South Korea had 903 people who earned U.S. green cards through the program, the second most."
According to the USCIS, China produced the most successful investors in the EB-5 visa program with 1,979. South Korea had 903 people who earned U.S. green cards through the program, the second most."
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