Tag Archives: Property/Assets/Rights

Wine producers go hi-tech to protect against fraud

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“Making sure a glass of wine is everything it promises on the label was once a relatively simple process: hold against the light, tilt and observe the shade, swirl a little and give it a good sniff. But with the ever-increasing global consumption of wine now attracting the attention of fraudsters, wine drinkers are soon just as likely to be advised to whip out their smartphones. A quick scan can give the consumer a direct link to the supplier’s website to verify the label, trace the wine’s journey from vineyard to glass and provide information about the winery. New technology and international cooperation are now enabling producers to outsmart the fraudsters.”

http://www.rawstory.com/rs/2013/06/22/wine-producers-go-hi-tech-to-protect-against-fraud/

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Realty Mogul Review: Fractional Investment Property Ownership, Hard Money Lending

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“Realty Mogul is a new ‘crowdfunding’ start-up that lets you invest in residential investment property for as little as $5,000. You either take a partial ownership position in a property, or you become a lender to (experienced) house flippers. The new thing here is that you can do it completely online with a few mouse clicks (no mortgage brokers, real estate agents, or tenants) and again that low minimum $5,000 investment.  Taking an equity ownership position means that you own a little slice of a single-family home or multi-unit complex while a professional does the buying, fixing up, renting out, and eventual selling.”

http://www.mymoneyblog.com/realty-mogul-review.html

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Price Inflation Watch: Average NYC Rent Passes $3,000

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EPJ13

“The average rent in NYC last quarter was $3,017 a month, according to Reis Inc. According to Reuters, the average New York rent was more than 50 percent higher than second-place San Francisco, where rent grew 1.1 percent from the first quarter to $1,998.82. Oklahoma City was the cheapest market, at an average of $571.03 a month, up 0.6 percent. The national average is $1,062. With few apartments up for grabs in NYC, brokers are urging prospective tenants to carry financial paperwork with them to showings and to make a decision quickly, reports WSJ.”

http://www.economicpolicyjournal.com/2013/07/price-inflation-watch-average-nyc-rent.html

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Dear New Yorkers: Here’s Why Your Rent Is So Ridiculously High

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“While the average rent for available apartments in New York City is now over $3,000, the U.S. Census Bureau says renters in New York City were only paying a median of $1,125 in 2011. What gives? The answer is, there are lots of cheap apartments in New York. You just can’t get one of them, because they’re rent controlled, and tenants with great rent controlled deals cling to their apartments until they die. In Manhattan below 96th Street, 35% of rent regulated apartments are occupied by a tenant who has lived there for more than 20 years. Less than 3% of market-rate tenants have been around that long.”

http://www.businessinsider.com/the-8-reasons-why-new-york-rents-are-so-ridiculously-high-2013-7

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Mortgage Rates at Two Year High

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EPJ13

“The average rate for the 30-year fixed-rate mortgage rose to 4.51% in the week ending July 11 – reaching the highest rate since July 2011,Freddie Mac said today in its weekly report.   A year ago, the 30-year rate averaged 3.56%.  This is only the beginning. It is not the time to have a floating rate mortgage. If you haven’t locked in your mortgage rate with a long-term fixed rate mortgage, do so now.”

http://www.economicpolicyjournal.com/2013/07/mortgage-rates-at-two-year-high.html

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Libertarian group joins fight against garage restrictions in Dearborn

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“At a Planning Commission meeting Monday night in Dearborn, a leader with a libertarian group started by former U.S. Rep. Ron Paul raised questions about the city’s plan to tweak an ordinance that regulates the use of garages.  In recent years, a growing number of residents — especially those in the Arab-American community — have transformed their garages into living spaces where they hang out, cook, smoke water pipes, and eat. Some have even installed sliding glass doors. City officials are concerned such activity is causing safety hazards, pointing to a fire in November that was started by a heater kept in a garage.”

http://www.freep.com/article/20130708/NEWS02/307080125/Dearborn-ponders-new-rules-for-residential-garages

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Senators push bill to replace Fannie, Freddie with national mortgage insurance

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“The two firms, which back nearly half of all new U.S. home loans, were chartered by Congress to expand mortgage finance but operated as private, profit-making companies. Given the central role they played in the financial system, the government felt compelled to bail them out when they ran into trouble. The bill would require private entities to buy mortgages from lenders and issue them to investors as securities. Private equity would be required to absorb a 10 percent loss of the principal underlying those new mortgage-backed securities if the loans went bad. A new guarantor, called the Federal Mortgage Insurance Corp., would replace Fannie Mae and Freddie Mac.”

http://www.reuters.com/article/2013/06/25/us-usa-housing-reform-idUSBRE95O0WI20130625

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1,700,000 Foreclosures Are in the Pipeline.

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“A government report says that 1.7 million homeowners are 90 days or more late in their mortgage payments.  Fannie Mae and HUD will wind up with these homes on their books, unless they decide to let the homeowners live rent-free. This is shadow inventory. It hangs like the sword of Damocles over the housing market. If the government does nothing, these homeowners will receive a huge subsidy: a tax-free grant equal to their mortgage payment, month after month, year after year. But if it forecloses, what will it do with these empty houses. Then the subsidy goes to operators of the squatters. Will the government kick the can? Probably.”

http://teapartyeconomist.com/2013/07/09/1700000-foreclures-are-in-the-pipeline/

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Private paramilitaries guard Wisconsin mining site from protesters

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The company brought in the paramilitary forces after being confronted by a group of about 15 protesters in June. At least one of the demonstrators, a young woman, was hit with misdemeanor charges for trying to take a camera away from one of the company’s geologists. Gogebic claims they’ve since caught several people illegally camping on their property and did not want to take any chances. The company hired by Gogebic is Arizona-based Bulletproof Securities, which boasts that many of their employees are ex-military. A spokesperson for Gogebic told The Cap Times on Tuesday that they’re considering restricting their drilling sites from public access.”

http://www.rawstory.com/rs/2013/07/09/private-paramilitaries-guard-wisconsin-mining-site-from-protesters/

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Foreclosures are the Solution, Not the Problem

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“The majority of those foreclosed on and who sold short would have become clean potential buyers in 3 to 7 years ensuring a housing recovery was not only on deck but would be ‘durable’. Millions of legacy HELOCs and HELOANs preventing folks from rebuying real estate indefinitely would have been exterminated making millions more potential buyers within 2 to 5 years. Bottom line, history will not be kind to loan mods and workouts. It will show that modifications, anti-foreclosure laws, banks protecting their HELOC assets — in general, unabated can-kicking — was responsible for housing to remain in a depression for years longer than it would have.”

http://mhanson.com/archives/1298

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