1929 Wall Street Stock Market Crash

Social Benefits of Homeownership and Stable Housing

August 2010


According to the National Association of Realtors, "Research has consistently shown the importance of the housing sector on the economy and the long-term social and financial benefits to individual homeowners. The economic benefits of the housing market and homeownership are immense and well documented. The housing sector directly accounted for approximately 14 percent of total economic activity in 2009. Household real estate holdings totaled $16.5 trillion in the first quarter of 2010. After subtracting mortgage liabilities, net real estate household equity totaled $6.3 trillion.

In addition to tangible financial benefits, homeownership brings substantial social benefits for families, communities, and the country as a whole. Because of these societal benefits, policy makers have promoted homeownership through a number of channels. Homeownership has been an essential element of the American Dream for decades and continues to be so even today.

The purpose of this paper is to review existing academic literature that documents the social benefits of homeownership. Furthermore, this paper examines not only the ownership of homes, but also the impact of stable housing--as opposed to transitory housing and homelessness---on social outcomes, looking specifically at the following outcome measures:

•Educational achievement;
•Civic participation;
•Health benefits;
•Crime;
•Public assistance; and
•Property maintenance and improvement."

TAG Design Works-"Vision through Inspiration"

TAG design works is a fully integrated architectural, urban planning and interior design firm.

The company philosophy is to achieve a vision through inspiration that fuses the economic and functional necessities of the client's programs with the creative aesthetics in designs. TAG believes that establishing a team with collaborative talents is crucial for delivering a successful project to it's client. The company's focus is to achieve high quality design while managing project's feasibility. TAG understands each individual project has its own unique characteristics and requires specific solutions. As a well established team, TAG is able to provide comprehensive analysis and innovative solutions to individual project and client.

TAG orchestrates innovative design solutions for each project.

Our services included are Urban Planning, Architectural Design, Sustainable Design, Feasibility Study, Site Analysis, Project Management, Construction Management, Space Planning and Interior Design. Kenneth Fisk Jr. services to the company includes Business Development, Real Estate, Escrow and Lending Consultant. TAG's design professionals are constantly energetic and passionate on providing pioneering yet feasible design client's program, culture, project environment and building performance. TAG's professional principle is offering exceptional services to every project. TAG's design professionals are dedicated to assist clients throughout every stage in the project delivering process. For our services please contact Kenneth Fisk Jr.

Investing In REIT's

What Does Real Estate Investment Trust - REIT Mean?

 
A security that sells like a stock on the major exchanges and invests in real estate directly, either through properties or mortgages.

REITs receive special tax considerations and typically offer investors high yields, as well as a highly liquid method of investing in real estate.

Equity REITs: Equity REITs invest in and own properties (thus responsible for the equity or value of their real estate assets). Their revenues come principally from their properties' rents.

Mortgage REITs: Mortgage REITs deal in investment and ownership of property mortgages. These REITs loan money for mortgages to owners of real estate, or purchase existing mortgages or mortgage-backed securities. Their revenues are generated primarily by the interest that they earn on the mortgage loans.

Hybrid REITs: Hybrid REITs combine the investment strategies of equity REITs and mortgage REITs by investing in both properties and mortgages. Individuals can invest in REITs either by purchasing their shares directly on an open exchange or by investing in a mutual fund that specializes in public real estate. An additional benefit to investing in REITs is the fact that many are accompanied by dividend reinvestment plans (DRIPs). 

 

Among other things, REITs invest in shopping malls, office buildings, apartments, warehouses and hotels. Some REITs will invest specifically in one area of real estate - shopping malls, for example - or in one specific region, state or country. Investing in REITs is a liquid, dividend-paying means of participating in the real estate market.A Real Estate Investment Trust or REIT is a tax designation for a corporation investing in real estate that reduces or eliminates corporate income taxes. In return, REITs are required to distribute 90% of their income, which may be taxable, into the hands of the investors.

Michael Torres of Adelante Capital discusses his view on thee markets and offers stock picks.

http://video.foxbusiness.com/v/4350913/investing-in-reits/?playlist_id=87185

Beverly Hills Dream Home For Sale

Beverly Hills Dream Home For A Perfect Buyer!

On a quiet and tree line street! You will enjoy sweeping views of the city lights & endless sky. This 3 Bedroom, 2.5 Bath, 2,025-plus-square-foot house sits on a 6,500 flat lot. And just minutes away Beverly Hills High School. Character traditional defines the exterior, embraced by a warm and spacious home. The Spacious kitchen encompasses eat-in dining area will provide immensely comfortable. With the right touches and owner, this estate can be breathtaking. The asking price for this amazing property is $1,450,000. For viewing please contact me.

Former Hearst-Davies mansion for sale at $95 million

Buyer's view the $95 million dollar Mansion in Beverly Hills!

In quote, "In a sign of the times, the onetime Beverly Hills home of publishing magnate William Randolph Hearst and actress Marion Davies, which was listed for sale briefly three years ago at $165 million, is back on the market at the 2010 price of $95 million. Its owner, attorney-investor Leonard M. Ross, filed for bankruptcy protection last week.

The reduced price is not surprising given the condition of the housing market. Median home prices in Southern California have declined 43% since their peak in 2007, according to MDA DataQuick, matching the price drop reflected on the new listing.

Called Beverly House, the 1920s mansion has had fairy tale moments. John and Jacqueline Kennedy honeymooned there. But it was also used to film scenes from the movie “The Godfather,” including the one in which a horse's head was found in a bed.
The longtime current owner filed for Chapter 11 on Wednesday even though his assets exceed his liabilities, court documents show. A press release announcing the sale said  “unusual circumstances” and “bank maneuverings” led Ross to seek protection under federal bankruptcy laws.

The home’s fourth owner, Ross bought Beverly House more than 30 years ago. During his ownership, he refurbished the structure, expanded the living space by adding more than 20,000 square feet and reacquired adjacent property that had been sold off after Hearst’s death in 1951 at age 88.
The more than 50,000-square-foot mansion sits on 3.7 flat acres on a hilltop above the Beverly Hills Hotel. Built by banking executive Milton Getz, the H-shaped Mediterranean was designed by Gordon Kaufmann and retains its original landscaping design by Paul Thiene. Getz sold the compound to Davies in 1946 for $120,000.

The terra-cotta stucco structure blends Spanish and Italian styles. The interiors feature intricately carved ceilings, paneled walls, French doors, balconies and floor-to-ceiling windows. Cascading waterfalls lead to a swimming pool and Venetian columns beyond the pool house.
The main level has a 50-foot entry hall with a loggia, a living room with 22-foot-high arched ceilings and a library with hand-carved woodwork and a staircase leading to a second-story wrap-around balcony and bookshelves. The billiard room retains its herringbone parquet floors and carved stone fireplace mantle removed from Hearst's San Simeon mansion. An outdoor terrace can seat up to 400 diners.


Other features include an art-deco night club, a wine cellar, a gym and two projection rooms.
Jeffrey Hyland of Hilton & Hyland, a Christie’s Great Estates affiliate in Beverly Hills, has the listing. The history of the house is detailed in his book "The Legendary Estates of Beverly Hills.""
--Lauren Beale-LaTimes Blogger-September 20, 2010| 5:32 am

Brentwood Real Estate

Brentwood is a beautiful place to live. Each Home has a well-crafted design and unbelievable views within the area. Our Team has a depth of experience, expertise, and current market knowledge that is hard to match, and our personal attention to every detail ensures the finest results for you. The Home average price per square foot for Los Angeles CA was $352, an increase of 40.8% compared to the same period last year. The median sales price for homes in Los Angeles CA for Jun 10 to Aug 10 was $320,000 based on 4,150 home sales. Compared to the same period one year ago, the median home sales price increased 11.9%, or $34,000, and the number of home sales decreased 16.9%.

There are currently 7,652 resale and new homes in Los Angeles on Trulia, including 192 open houses, as well as 12,594 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Los Angeles CA was $1,032,098 for the week ending Sep 08, which represents a decrease of 0.8%, or $8,311, compared to the prior week. Popular neighborhoods in Los Angeles include Hollywood Hills and Bel Air, with average listing prices of $2,082,125 and $6,173,414.

 Remember Home is where the House is!

Have existing-home sales hit bottom?

By Inman News, Thursday, September 16, 2010.

Inman News 

 In quote; "Two leading indicators -- applications for purchase mortgages and the number of homebuyers entering into contracts to purchase homes -- suggest sales of resale homes hit bottom in July and will rebound this fall, economists at mortgage insurer The PMI Group Inc. conclude.
In their latest monthly Housing and Mortgage Market Review, PMI Chief Economist David Berson and analyst Brett Soares make a case that existing-home sales will show "some modest gains" in August, September and even October.
After hitting a low in the first half of July, purchase mortgage applications have edged up slightly, the report noted, citing statistics gathered by the Mortgage Bankers Association.
Because of the time it takes to approve a loan and close a home sale, loan applications submitted in August might not show up in statistics on existing-home sales until October.
Another leading indicator, which counts the number of homebuyers who have entered into purchase contracts -- the National Association of Realtors' pending sales index -- was up 5.2 percent in July.
"This is consistent with the increase in the MBA's purchase applications, and the two of them together strongly suggest that sales have bottomed out, at least for now," PMI economists said.

A housing market index published by the National Association of Home Builders slid in August, but that's probably an indication that a rebound in new-home sales will lag sales of existing homes, the report said, with buyers likely to bargain hunt for distressed properties."The leading indicators of housing demand suggest that the drop in home sales is probably over and that some modest gains may be in store for the (August through October) period," the report said. "Beyond that, the underlying determinants of housing demand will have to strengthen in order for home sales to rise appreciably."

Those factors include job growth, affordability, demographics and consumer sentiment.
PMI economists think unemployment will surge during the fourth quarter to a 2010 high of 9.8 percent, before gradually falling to an average of 8.7 percent by the fourth quarter of 2011 and 8 percent in 2012.
Fears of a second recession are likely overblown, the report said, although economic growth is unlikely to accelerate until the middle of next year.

Affordability is close to record highs, which should drive housing demand. And although household formation remains below average, it's been increasing at a stronger pace, the report said.
Consumers remain concerned that large inventories of vacant or distressed homes will continue to put pressure on home prices in the future, making them less willing to make the decision to buy a home today.

With nearly one in four households with mortgages owing more than their home is worth, "a large segment of potential homebuyer demand has been eliminated in this cycle," the report noted.
But faster economic growth in the second half of 2011 "should lead to a pickup in job gains and stronger household formation," Berson and Soares predicted in their report.
Next year should bring "a stronger, but still historically modest, rise in home sales," the report concluded.
In their forecast, Berson and Soares envision sales of existing homes rebounding from a projected 4.96 million this year to 5.5 million in 2011 and 5.67 million in 2012.

New-home sales are expected to total 342,000 this year, 485,000 next year and 590,000 in 2012.
The report suggests next year will be a difficult one for lenders, as the refinancing boom sparked by low rates comes to an end. Refinancings accounted for 69 percent of the $1.99 trillion in mortgages originated in 2009 and 67 percent of what's expected to be $1.55 trillion in mortgage loans funded this year.

Refinancings will probably account for 43 percent of a projected $1.32 trillion in mortgage lending in 2011, and 35 percent of the $1.43 trillion in lending envisioned in 2012.
PMI expects that purchase loan funding will jump 47 percent in 2011 -- which bodes well for the majority of Realtors whose commissions are determined by sales prices."

Greater Wilshire / Hancock Park

Hancock Park is a historic and affluent urban neighborhood in Los Angeles, California roughly bounded by Van Ness Avenue to the East, Melrose Avenue to the North, La Brea Avenue to the West, and Wilshire Boulevard to the South. This neighborhood is surrounded Entertainment, Job opportunity's and Private schools include Marlborough School, a private girls' school, and Yavneh Hebrew Academy, an Orthodox Jewish school Pre-School - 8.  Home prices are dropping daily and this is a prefect time for Buyer's to investment.

The median sales price for homes in Greater Wilshire / Hancock Park, Los Angeles for Jun 10 to Aug 10 was $650,000 based on 83 sales. Compared to the same period one year ago, the median sales price increased 35.4%, or $170,000, and the number of sales decreased 36.2%. Average price per square foot for Greater Wilshire / Hancock Park was $380, a decrease of 6.2% compared to the same period last year. There are currently 198 resale and new homes in Los Angeles on Trulia, including 3 open houses, as well as 114 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.

The average listing price for homes for sale in Greater Wilshire / Hancock Park was $1,367,744 for the week ending Sep 08, which represents a decrease of 5.8%, or $84,466, compared to the prior week. If you would like to view amazing homes in the Greater Wilshire/Hancock Park area. I'll be more then happy to assist to you.

Fannie Mae and HomePath Program

Fannie Mae and other mortgage companies are launching a program called HomePath. This program offers subprime-era terms for buyers: minimal down payments, no mortgage insurance and lower minimum credit scores. This is a perfect program for a first time home buyer or a small-scale investor.

The HomePath offers the following:

*Minimal down payments- 3% for buyers who plan to live in the house. 10% for investors. Also your down payment can come from documented gifts from relatives or others with no direct connection to the transaction.
*No requirement for an appraisal on the property unless you're applying for more money to renovate the house.
*No requirement for mortgage insurance coverage.
*A minimum credit score of 660.
*Maximum loan amounts(standard conventional loan limits: $729,750  in the highest cost markets, $625,500 and $417,000 in others.

This program seem pretty good. But for more information about this program please visit http://www.Homepath.com or contact your local lender.

Culver City Homes

Culver City is great a location to buy your first investment. This city has a great Unified School District, Local Jobs, Entertainment, Downtown Culver City, and Parks. The median sales price for homes in Culver City CA for Jun 10 to Aug 10 was $405,000. This represents a decline of 6%, or $26,000, compared to the prior quarter and a decrease of 1.2% compared to the prior year. Sales prices have depreciated 24.9% over the last 5 years in Culver City. The average listing price for Culver City homes for sale on Trulia was $554,657 for the week ending Sep 01, which represents a decline of 3%, or $17,367, compared to the prior week and a decline of 2.6%, or $14,547, compared to the week ending Aug 11. Average price per square foot for Culver City CA was $384, a decrease of 1.5% compared to the same period last year. Popular neighborhoods in Culver City include Fox Hills, Jefferson, Park East, Sunkist Park, Park West, and McManus. Please visit www.culvercity.org to learn more about this great area. Make sure to read the Culver City Highlights on (Greening Your Household Workshop).

I'm GREEN

I'm GREEN!

I'm saving the Earth by having my real estate business paperless. The program I'm using is the market leader and global standard for electronic signature. This will allow my clients and I to complete a fast online Real Estate digital solution. "It's Fast, Complete and Highly Trusted!" Clients follow me as I go into the Tech movement! 


If you like to keep informed about the Environment. Please visit www.enn.com (Environmental New Network). Their mission is to provide a global perspective on environmental issues, and to promote thought, discussion, and awareness among there readers, The Time is now to HELP!