Captn Mortgage

2012-01-28T09:48:00.000-08:00

By BLOOMBERG NEWS

Saturday, January 28, 2012

The Obama administration, seeking to help more homeowners lower their interest rates and shed mortgage debt, will relax the rules on a federal loan-modification program and triple its incentives to banks.
The revised Home Affordable Modification Program, or HAMP, also would pay Fannie Mae and Freddie Mac to forgive debt on homes that have lost value. The government-owned companies, citing cost, don’t reduce principal, a policy that has limited HAMP’s reach because they own or guarantee nearly half of U.S. home loans. About 900,000 borrowers have successfully used the lifeline to refinance, fewer than the 4 million borrowers HAMP — which pays mortgage servicers and investors for successfully modifying loans — was expected to reach.
Friday’s program changes are separate from a new refinancing plan that President Barack Obama promised to deliver in his State of the Union speech Tuesday.
Whether Fannie Mae and Freddie Mac accept the administration offer is up to Edward DeMarco, acting director of the Federal Housing Finance Agency, which is charged with minimizing losses to the companies and to taxpayers. DeMarco said he would analyze the potential costs and benefits of participating in HAMP’s principal write-down effort.
The HAMP expansion, called HAMP Tier 2, triples incentives paid to banks that reduce mortgage principal, to a maximum of 63 cents for every dollar of debt forgiven. Investors who rent out their properties would be eligible to refinance under the new rules. The deadline for applying for a HAMP loan modification is extended for a year, to the end of 2013.

http://inhabitat.com/artist-victor-moore-builds-an-incredible-junk-castle-for-just-500/junk-castle/?extend=1

2012-01-26T18:18:00.000-08:00

Perched atop a defunct rock quarry in Washington state, the "Junk Castle" is an ornate abode that was built completely out of salvaged materials for just $500. Created by high school teacher,  writer  and artist Victor Moore for his 1970 MFA thesis assemblage sculpture,  the castle is made from pieces found at a local junkyard and around the  site itself. Read on for a closer look at this fascinating recycled  building!

Home sweet underwater home...

2012-01-20T19:19:00.000-08:00

MORE VIEWS

Timber Cove, Calif.

Price: $1.995 million

Bedrooms: 1

Baths: 1

Square feet: 1,200

This is one of the most expensive 1,200 square-foot homes you'll ever find. The price tag is mainly due to its perch high on a promontory on the rugged Sonoma County coast.

The home is surrounded on three sides by crashing surf. And when the big rollers come in, the spray from breaking waves can wash over the roof of the house, more than 75 feet above the sea. The sturdy steel, stone, redwood and plexi-glass building has been securely anchored to solid rock, however.

The windowed walls give the rooms panoramic ocean views and the spire roof is practically all glass, flooding the interior with light. There's a stone fireplace, a dining area next to a glass wall, a wooden deck and a redwood hot tub.

The house sits on three acres of land and is accessed via a boardwalk. It's about two hours north of San Francisco and an hour or so from some great wine country.

For further information: Trulia

Mitt's Crib in La Hoya...

2012-01-13T19:32:00.000-08:00

GOP cribs: Where the candidates live

It may not be 1600 Pennsylvania Ave., but the presidential candidates reside in some pretty nice digs. Here's a look at where they live -- at least, for now.

Location: La Jolla, Calif.

Estimated value: $9.6 million

Out of all of the candidates, former Massachusetts Gov. Mitt Romney owns the most real estate, including a townhouse in Boston and this beachfront home in La Jolla, Calif.

Romney bought the home in May, 2008 for $12 million, according to public records. Now, he is planning a massive overhaul of the place.

The Spanish-style home is on a cul-de-sac with direct access to the beach. There are plenty of luxury features like a secluded patio with a lap pool, spa and a chef's kitchen.

Zillow currently values the home at $9.6 million, but that's about to change. Romney has filed an application with the city to tear down the 3,000-square-foot, single-story property and build a more than 8,000-square-foot, three-story home, according to the city of San Diego's development services department.

Celebrity Living Rooms Homes & Spaces: architecturaldigest.com

2011-11-01T21:04:00.000-07:00

Celebrity Living Rooms Homes & Spaces: architecturaldigest.com

Sinatra Slept here...

2011-09-18T10:51:00.000-07:00

And you can rent this for a mere $2600 a nite, courtesy of

Jetsetter.com

Custom built for Frank Sinatra in 1947 by master architect Stewart E. Williams, Twin Palms Estate is named for the two towering trees in the backyard. When Sinatra was in residence, he’d run a flag up the flagpole that once divided them to alert his friends that it was cocktail hour. Though Ol’ Blue Eyes had requested a Georgian colonial look, Williams talked him into this more desert-friendly mid-century-modern abode.

The home possesses a harmonious — almost magical — warmth. Vaulted wood ceilings rise above wood-paneled walls, one of which houses a recording console given to Sinatra by Capitol Records in 1951. From there he could press a rough cut of a new song, then beam it directly to Los Angeles for mastering, via the antenna still on the rooftop.

All furniture is era-specific (though none actually originated in the house), with genie-bottle lamps, swoop-back sofas, free-form glass coffee tables and fuzzy shag area rugs. And the tuned Yamaha grand player piano in the corner of the living room plays only Sinatra songs. When the light is just right, you can almost picture the man himself at the keyboard.

Outside, the huge mountain-view pool deck is built for a party, and with his-and-hers bathrooms, guests can keep the festivities going by changing from a swimsuit to cocktail dress without entering the house.

The Worst Business Model...

2011-08-06T15:22:00.000-07:00

I've been saying this for years, but here it is in black and white - finally....I am a real estate agent, licensed in two states, and I always said it was a job for rich housewives because when times got hard, real estate agents had to go begging. This is no way to do business. Why not just hire salaried employees, or give commissions and bonuses on top of a base, so that they didn't turn into such snakes?

A new paper by the National Bureau of Economic Research looks at what may happen if the six percent Realtor fee added to the price of a home sale were modified (via Freakonomics).
Lower commissions resulted in significantly higher home sales. Obviously this would benefit the economy:

A one-half reduction in the commission rate leads to a 73% increase in the number of houses each agent sells and benefits consumers by about $2 billion. House price appreciation in the first half of the 2000s accounts for 24% of overall entry and a 31% decline in the number of houses sold by each agent. Low cost programs that provide information about past agent performance have the potential to increase overall productivity and generate significant social savings.

There are other benefits associated with lower or flexible commissions that are not captured by our model... For example, lower commissions reduce transaction costs, which might lead to a more liquid housing market, improved asset allocation, and better housing consumption. Flexible commissions also provide a channel for consumers to choose services tailored to their preferences.

Your Own Private Idaho or Hawaii

2011-07-24T11:40:00.000-07:00

Yacht Island Design presents your own private Idaho or Hawaii rather on a boat - a big boat.

The Late Great Kate Hepburn's House, but where are the Callilillies?

2011-06-29T09:12:00.000-07:00

According to Zillow, "The Hepburn home sits on Long Island Sound with a private dock and beach.

"The six-bedroom, seven-and-a-half-bath home was completely renovated, including upgrades to the kitchen and bathrooms. With 8,300 square feet of living space, the beach home has high ceilings, architectural detailing as well as large windows and French doors that offer expansive water views."

The home faced severe damages from a Category 5 hurricane in 1938, but Hepburn loved the house so much that it was rebuilt within a year.

Hepburn passed away at her estate in 2003 at age 96.

In 2004, Barbara and Frank Sciame, the chief executive of F.J. Sciame Construction, bought the estate purely to renovate and sell it, but they ended up keeping it as a summer home for several years.

However, they split the property into three different lots. The plot containing Hepburn's home is the priciest at $18 million, but the entire 3.5-acre property can be purchased for $28 million.

Flea bitten?

2011-06-18T20:52:00.000-07:00

The AWESOME house that Red Hot Chili Peppers band member Flea owns out in Malibu is up for sale ... and it could be yours -- if you've got a spare $4.7 million to spare.

It's a massive property -- 2.4 acres -- and the structure is practically brand new ... because Flea had to rebuild the home after it burned down in the Malibu fires back in 2007.

Now, the new pad is pretty badass -- with 3 bedrooms, 3 bathrooms, crazy views and "mature trees" ... and there's nothing more bad ass than "mature trees."

http://photos.tmz.com/

Hot Property in the Bu for sale....

2011-05-31T15:26:00.000-07:00

MALIBU, Calif. - Barbra Streisand says she understands that California has to sell her donated 22.5-acre Malibu ranch to help balance the budget but she hopes the buyer will preserve its "special habitat."

Ramirez Canyon Park, which the singer donated in 1993, is on the list of state-owned properties that Gov. Jerry Brown wants to put up for sale despite fierce opposition.

The property contains meadows, gardens, a creek and three homes that Streisand customized with a wealth of architectural detail ranging from Art Deco metal panels to Douglas fir framing on a Craftsman-style house. It was valued at $15 million when Streisand gave it to the state and the Santa Monica Mountains Conservancy, a state agency that Brown established in 1980 during his first stint as governor.

But the property "does not serve any essential state function," Brown's spokeswoman, Elizabeth Ashford, told the Los Angeles Times. "The state should not be the landlord for a place that hosts mountain retreats."

"I understand Governor Brown's tough decision given the severe budget shortfalls that California is facing," Streisand said in a recent statement. "I only hope that there is little disruption to the residents of Ramirez Canyon through this potential transition and that whatever entity does purchase the land and the homes on it will preserve its special habitat."

The conservancy opened its headquarters on the property and moved to set up what it promised would be an academic think-tank called the Barbra Streisand Center for Conservancy Studies. But when interest in conferences lagged, the conservancy began renting out the estate for weddings and garden tours to pay for maintaining its five houses and grounds.

Neighboring homeowners, some of them living in secluded, multimillion-dollar mansions, complained about noise and expressed fears that traffic could block the rustic roads during fires. Streisand demanded that her name be pulled from the property.

Homeowners sued and a settlement was reached.

Currently, the ranch is only open to the public by special appointment.

The conservancy has defended its use of the property and opposed the sale. It has argued that under California Coastal Commission rules adopted last year, the ranchland must remain as open space and thus is worthless to developers.

Streisand says she understands that California has to sell her donated 22.5-acre Malibu ranch to help balance the budget but she hopes the buyer will preserve its 'special habitat.' Ramirez Canyon Park, which the singer donated in 1993, is on the list of state-owned properties that Gov. Jerry Brown wants to put up for sale despite fierce opposition.

Ramirez Canyon Park is located in a canyon off the Malibu coastline and is bordered by a National Park Service wilderness area. Within the site’s boundary lie both an exquisitely beautiful designed landscape and a rich coastal wilderness. Barbra Streisand donated this 22.5-acre estate to the Santa Monica Mountains Conservancy in December 1993. At the request of local neighbors along Ramirez Canyon Road, the California Coastal Commission has required that this property be accessible to the public by appointment only. Barwood

The "Hollywood" Craftsman post and beam two-story house currently serves as executive offices for the Santa Monica Mountains Conservancy. "Barwood" refers to the name of Barbara Streisand's production company. Built around existing sycamore trees, the large windows, skylights, vaulted ceilings and Douglas fir framing create the feeling of being
in a tree house. An adjoining tennis pavilion follows the same design. Barn Yellow copa del oro vines planted over 20 years ago cover the whimsical Barn building, Ms. Streisand's first and favorite house on the property. Originally stucco, the modest three bedroom structure was covered inside and out in old and "aged" wood by craftsmen and toy makers. Beveled glass doors, large picture windows and a 30' high pitched ceiling
bring nature into the main living room. Highlights include stained glass, lofts, ladders and a river rock fireplace.

Peach House
Named for its color, this Mediterranean style villa was converted from a one-story stable. The lower two floors were a guest apartment. The upper level, accessible only by an exterior winding brick staircase, was designed as a screening room with automatic black-out curtains and drop down screen. This room has hardwood floors, a marble fireplace, Art Nouveau hand-carved detailing and beveled-glass french doors. Deco House
Ms. Streisand spent five years turning this house into a veritable Art Deco temple. Featured in the December 1993 Architectural Digest, the Deco House design includes stainless steel panels from Los Angeles' landmark Atlantic Richfield building, a carpet copied from a Bigelow original, stunning ceilings and authentic period light fixtures. Inside and out, including the black bottom pool, the color scheme strictly adheres to a palette of black to gray and burgundy to pale rose.

Gardens and Meadows
The largest meadow, to the north is the site of the 1986 One Voice fundraising concert. Behind the Barn, Ms. Streisand converted a former corral into a garden that, like the other scattered cutting gardens, yields roses, foxglove, asters, sweet peas, and camellias as well as herbs, vegetables and fruit. Experience the tranquil garden paradise of Ramirez Canyon Park, with docent-led canyon and garden tours. The one-hour walking tour covers the historical, botanical, and architectural background of the property, as well as its broader relationship to the Santa Monica Mountains.

Visitors have an additional hour to enjoy tea on the Barn patio and to relax on the grounds. Special events and small gatherings help maintain the property and support outreach programs designed to serve disadvantaged youth, physically-challenged visitors and seniors. Address: Access By Appointment Only
Phone: (310) 589-2850

Hidden treasure...Emerald Isle and North Carolina outerbanks...or Barrier Islands

2011-05-23T12:02:00.000-07:00

http://www.emeraldisle-nc.org/

Emerald Isle Realty.com

Properties under 400k

There's plenty of bargains in Emerald Isle, NC, and condos can range under 200k. There are vacant lots, and the island is only one mile wide, so bayside (or 'bogue') is preferable for the occasional hurricane. Most houses are on stilts to prevent flooding, and
the Camp LeJeune Marina base is nearby.

Emerald Isle is a town in Carteret County, North Carolina, United States. It is part of the Crystal Coast and is located entirely on the Bogue Banks. The population was 3,488 at the 2000 census, but as many as 50,000 visitors inhabit the area during the summer season, filling up vacant rental properties that do not count toward official census results.
Today, the oceanfront is lined with both large and small homes. While there is a scattering of condominiums, there are no oceanfront hotels, and Emerald Isle has maintained a family-oriented atmosphere.

From about 1 AD to colonial times, Emerald Isle was home to Native Americans. Later, the area was settled by a small number of whalers and fishermen.^[4]
In the 1920s Henry Fort, who owned the Emerald Isle beaches and land surrounding them, hoped to open a large summer tourist attraction and ocean resort. Fort worked with developers, but the plans never materialized. After his death, his daughter Anita Maulick inherited Emerald Isle.

In 1951, seven individuals purchased the 12-mile stretch of island for $350,000 from Anita Maulick. Emerald Isle was sliced into 54 blocks of 1,000 feet, each going from ocean to sound. The partners drew from a hat for the ownership of blocks. Because they wanted Emerald Isle to be family-oriented, the owners limited commercial development and mobile homes to five blocks each.

In 1960 ferry service began, and provided wider access to the Bogue Banks beaches of modern-day Emerald Isle. In 1971 the Cameron Langston Bridge was opened to provide access from Cedar Point to the western end of Bogue Banks and Emerald Isle. The bridge, spanning the Intracoastal Waterway, offers a great view of the Bogue Sound and Bogue Banks. The opening of the bridge increased island development.Emerald Isle is a popular vacation spot and is also known for excellent fishing and a wealth of marine life. Notably it's beaches are a favorite location for nesting sea turtles. http://www.emeraldisle-nc.org/turtles/default.htm

BLACKBEARD the Pirate
These two pictures (right and below) are the Hammock House and when it comes up for sale, I am buying it...It was owned by the famous pirate, BlackBeard....

Blackbeard headquartered out of what was shown on ancient maps as the "white house" which was located on what is now Taylor's creek, overlooking the inlet to the Atlantic Ocean at Beaufort. After nearly 300 years, things have changed. Today the house is known as the Hammock House, and the the house is over 500 feet from water due to build up and filling in over the centuries.

The Hammock House, oldest home in Beaufort dates back to approximately 1700 and has been used for a variety of purposes during its nearly 300 year history. It has had 31 owners who held it for periods varying from less than one year to over 21, the average possession being a little over 9 years. It is probable that it was originally built as an "ordinary", or inn - the owners hoping to profit from sea or land travelers overnight needs. But it's been used, also, as a home, a residence for Union soldiers, a summer house and a school.
The name comes from the fact that the house was built on a "hammock", a "fertile raised area." Because its' two stories made it visible from considerable distance and it occupied land at the entry to the inlet, it served as a shipping landmark until the late 18th century. Originally Taylor's Creek came up to the front lawn of the house and one could paddle up to the area in a small boat and dock.

There are many legends and stories connected with the house. Some people have believed it to be haunted and it is told that Blackbeard stayed here for a while with an 18 year old French common-law wife who was not a willing occupant. The pirate got so angry with her that he hanged her on an oak tree in the back yard when he departed. Some people say her screams can be heard to this day when conditions are just right. (A scale model of Blackbeard's sloop, "Adventurer", commissioned by the owners and created by Harkers Island boat builder and model makes, James Allen Rose, is on display in the Hammock House today.)

Another tale frequently told has to do with one Richard Russell, Jr., who, upon his return from a sea voyage decided to take a slave up into the Hammock House attic to punish him. The slave overpowered Russell and pushed him down the stairs, breaking his neck..
Another story has it that a British Navy Captain, engaged to a Beaufort women, upon arriving in town mistakenly thought that his fiancee has been untrue and killed her alleged lover in the upper area of the house; traces of the victim's blood can be detected on the treads of the steps.

During the Civil War Union officers were quartered in the house. Three of them set out for the building and were never seen again. In 1915 workmen digging near the back porch found their remains. Recently, during renovations, a human scapula bone was uncovered.
So many tragic stories were associated with the house that many citizens became uneasy. Was it really haunted? Could it be that the voices of all these unfortunates can be heard from time to time? This may account for the years of neglect, abuse and vandalism to which the Hammock House fell victim.
Blackbeard, who went by the name Edward Teach (or Thatch, depending on things I don’t understand), commanded four vessels and some 400 crewmen at the peak of his piracy at the beginning of the 18th century. He would entwine treated cannon fuses into his hair and beard and then light them to augment his already fierce and diabolical appearance. He captured at least 45 vessels in his career, many of which didn’t even offer a fight because of his reputation. He once blockaded the entire city of Charleston, SC, for a week until they surrendered medical supplies to him. He died in battle at Ocracoke Inlet, NC, with 20 sword cuts and five musket-ball wounds before being beheaded. I’m telling you, this guy was bad, bad Leroy Brown. And if you still have doubt, lean in closer to your computer screen and listen to me tell of the resting place of his cranium. While his body was thrown to the caprices of Ocracoke Inlet, his decapitated head ended up shoved on a pike in Hampton Harbor, VA. John the Baptist, William Wallace, James Earl Jones in Conan the Barbarian. You pretty much have to shake the world a bit to have your head valued as a trophy.

Oh, and did I mention he did all of this in a time span of less than two years? Any man that can make a myth of himself in that short a period deserves all the romanticizing that people do to him. Including me. So from here on out, tons of “-ly” adverbs.

Back to his house, though. The coastal town of Beaufort, NC, was founded in 1709 so that the word idyllic could be invented and used without irony. Wild horses graze on marsh grasses there. Boats of pleasant sizes find safe harbor there. Seafood is inhaled like incense there. Most interestingly perhaps, the Old Burying Ground is there. It has nothing to do with Blackbeard, but definitely Google that one sometime when you’re bored at work. Just about every house in the town is a few centuries old and has been christened. You know this because each one bears a blue and white shield on the front stating the name of the house and the year it was built. The homeowners association there must be tyrannical. Just kidding. Every homeowners association is tyrannical.

So what’s a scurvy pirate like Blackbeard doing in a nice place like Beaufort?

Well, living there, of course. Blackbeard stayed for a time in what is now the oldest house in Beaufort. It was built around the same time as the town’s founding and came to be called Hammock House because of one of the rarely used definitions of the word hammock. Nobody’s really sure whether Blackbeard owned it at one time or just rented one of the rooms occasionally, but he definitely resided there. Doesn’t matter, anyway. It’s Blackbeard’s house now. Over the course of the house’s history, it saw other-than-pirate types of violence, too, spawning quite a few tales that have inevitably evolved into ghost stories. It’s also changed hands like 31 times in its three-century history. Currently, it’s a private residence. Yup, private. Somebody microwaves macaroni where a notorious pirate once murdered one of his 14 wives.

Why didn't the town buy it up at one of the many opportunities and turn it into a museum?

Blackbeard’s house is located on a small dead-end road called Hammock Lane. There are only about five houses on the court, and the only reason you know which one is Hammock House is because of an obligatory-seeming sign well-hidden in an unobtrusive patch of bushes in the front yard. It's the first house on the left, and a small “No Trespassing” sign on the front step pleads for peace.

Other than snapping a few self-conscious photos in front of the house, there’s nothing really much else to do at Blackbeard’s place. But you’re so not done with Blackbeard in Beaufort. A few blocks down the road stands the North Carolina Maritime Museum.

It’s free, and besides some nice displays on the animals, history, and shipcraft of the area, they have a small section dedicated to Blackbeardia, including a model of his flagship, the Queen Anne’s Revenge, some pop culture relics influenced by the pirate, and a massive portrait of him.

They also have relics dredged from the bottom of Beaufort Inlet from a wreck that they believe to actually be the Queen Anne’s Revenge. It’s always been known that the ship was sunk somewhere in Beaufort Inlet during a “crew downsizing” by Blackbeard, but a possible wreck site wasn’t discovered until 1996.

You can see the inlet where the salvage is taking place from Fort Macon, a simple little civil war fort that is camouflaged as, well, flat ground. Like the museum, it’s free, and it’s part of a state park, so it’s worth visiting for other reasons than just wringing a bit more Blackbeardia from your travels.

Real Estate Steal in Clearwater FLA

2011-05-08T11:38:00.000-07:00

$1.9 million for this abandoned home and its a steal because it was owned by Khalil Bin Laden who fled the country after 9/11.

Bin Laden's brother's mansion

This undated photo provided by Autumn Norris-Makin shows a five-bedroom, Mediterranean-style mansion once owned by Khalil bin Laden, one of Osama bin Laden’s brothers. Khalil, one of the terrorist mastermind’s 54 siblings, bought the home in 1980 for $1.6 million, but the wealthy businessman and his family fled their vacation spot under police escort shortly after 9/11, fearing they might be targeted because of the terror attacks. The 1920s-era mansion has sat empty ever since. (AP Photo/Autumn Norris-Makin)

John Travolta's airplane and garage

2011-04-14T09:23:00.000-07:00

More Celebrity Homes...

John Travolta's House

Is that a house or an airport terminal? O wait, it is a house! Yes indeed, John Travolta's house really looks like an airport terminal than a house. Nonetheless, it is one of the weirdest houses I have ever seen. Located in Florida, John Travolta, a movie star mogul, lives here with his family. The home is located in a fly in community. In an interview with a magazine writer, John Travolta's wife said that her and her daugther love to go out and watch him fly off to work each day and then watch him return.

Dell's Hell....

2011-04-14T09:17:00.003-07:00

(FORTUNE Magazine) – Michael Dell--the 32-year-old founder of Dell Computer and, with an estimated net worth of $5.5 billion, the richest man in Texas--is probably unhappy with his local paper. The big Dell story in Austin is the feud between Dell and a county property-appraisal office over the value of the house he and his wife are building--and what their 1997 property tax should be. County appraisers say the new Dell home was worth $22.5 million as of Jan. 1, 1997, the date the taxes are based on. At that price, the Dells' 1997 property tax would be around $600,000. Appraisers hired by Dell say it should be valued between $5 million and $6 million, meaning a tax bill of $160,000 or so.
Why the discrepancy? Simply put, neither side can agree on how to measure the house's value. In most cases, figuring out a house's market price is easy--appraisers look at similar houses and subtract and add according to the differences. The problem with Dell's house is, there's nothing to compare it to. The next most expensive house in Austin is worth less than $4 million; casa de Dell may be the priciest house in all of Texas.

Without a comparable property, appraisers must create a market price. And so they did: $22.5 million. The Dells, however, argue the most anyone would have paid for the unfinished house would have been about $6 million. After the Dells' appeal of the valuation was rejected, they filed a lawsuit against the Travis Central Appraisal District on Sept. 3. According to court documents, the Dells charge that the district "arbitrarily placed a fundamentally wrong value on the property far in excess of its fair cash market value."
No one pretends valuing the house is easy. Set on 60 acres, the 22,000-square-foot structure is best described as Bauhaus-meets-spaceship-meets-community-college. It has eight bedrooms, 21 bathrooms, a conference room, and the requisite home gym. Austin eyebrows have been raised. "This is something you'd expect to see in Hollywood--or maybe old Dallas," says Austin American-Statesman columnist Don McLeese. Or Seattle suburbs like Medina, where Bill Gates recently built his fantasy compound, estimated at $53 million. Gates recently announced he would pay his taxes "like everybody else."
--Erin Davies

The Eternal Vacation courtesy of Jetsetter

2011-03-27T10:18:00.000-07:00

Jetsetter
Located a 30-minute boat ride from the Male airport, Anantara Naladhu's 19 spacious villas – all overlooking the turquoise waters of the Indian Ocean – epitomize tropical chic with their stylish interiors and indoor-outdoor design. Just think of it as your own personal island paradise http://bit.ly/hLfKAW

Buy Nick Cage's House or houses

2011-03-26T20:24:00.000-07:00

http://www.bankrate.com/finance/mortgages/they-re-rich-and-famous-and-in-foreclosure-1.aspx?ec_id=m1078089

How does Nicolas Cage get behind on his mortgage payments? The same way other rich and famous people do.

"They've stretched themselves higher than they probably should have," says John Anderson, owner of Twin Oaks Realty in Minneapolis and a National Association of Realtors expert in foreclosures. Some couldn't keep up when the rates on their adjustable rate mortgages shot up, Anderson says. Price drops at the high end of the market were so steep that a sale wouldn't cover the debt. In other words, high-end homeowners face the same problems that plague the not-so-rich-and-famous.

Here are five of the biggest names on the of list homeowners falling to foreclosure. We've included a bit of info about the current markets where these stars once lived. You know, in case you'd like to hunt for a foreclosure deal in one of those tony neighborhoods.

There were no takers at an auction for the actor's 6-bedroom, 9-bath property in Bel Air, California

The star: He's an Academy Award-winning actor (for "Leaving Las Vegas"), nephew of multiple-Oscar-winning filmmaker Francis Ford Coppola and the former son-in-law of Elvis.

The house: Make that "houses." In November 2009, Cage lost two New Orleans homes -- one in the French Quarter, the other in the Garden District -- worth a combined $6.8 million, according to a CNNMoney.com report. Cage was behind $5.5 million in mortgage payments and he owed $151,730 in property taxes to the city of New Orleans. Regions Banks paid $4.5 million for the properties.

The market: One in 720 homes in Orleans Parish had foreclosure filings in November 2010, according to RealtyTrac. The average foreclosure sales price in the city was close to $110,000.

HARP from Mortgage News Daily...

2011-03-14T14:12:00.001-07:00

by Jann Swanson

The Home Affordable Refinance Program (HARP) has been extended for another year according to information released on Friday from the Federal Housing Finance Agency.

The program was due to expire on June 30 but will now continue until that date in 2012. News of the extension comes while a House subcommittee is debating the end of HARPs companion program, the Home Affordable Modification Program (HAMP) and has already voted to kill the FHA Short-Refi program and the new Emergency Assistance Loan Program (EALP) which would provide 23 months of mortgage assistance unemployed and underemployed home owners.

HARP is designed to assist homeowners who owe more money on their current mortgage that the market value of their home and are thus unable to qualify for a conventional refinance. Refinancing through HARP, which is administered by the Enterprises Freddie Mac and Fannie Mae, can potentially reduce homeowners' mortgage rates and remove some of the incentives for a strategic default.

Acting FHFA Director Edward J. DeMarco that that the program will continue operating in the same manner as it has since in was started in 2009 except that Freddie Mac will exempt HARP loans from their recently announced price adjustment and Fannie Mae will conform the eligibility date to May 2009.

The use of HARP more than tripled in 2010. During the year a total of 6.8 million mortgages were refinanced nationwide and HARP, with 621,803 loan closings, represented nearly 10 percent of the total. In 2009 190,180 homeowners used the program to refinance.

To qualify for HARP you must currently have a mortgage owned or guaranteed by the Enterprises, have a one year history of on-time payments on your loan, and owe more on your loan than your home is worth. The loan-to-value, however, cannot exceed 125%.

UPDATED WITH INFO RELEASED BY FANNIE MAE...

The following changes will extend the availability of the program to additional borrowers:

* The program has been extended. Accordingly, lenders may continue to originate Refi Plus™ and DU Refi Plus™ loans with the HARP flexibilities provided the note date is on or before June 30, 2012, and whole loans are purchased by Fannie Mae no later than October 31, 2012 or in an MBS pool with an issue date no later than October 1, 2012.

* Currently, to be eligible for Refi Plus or DU Refi Plus the existing mortgage loan being refinanced had to be purchased by Fannie Mae prior to March 1, 2009 or in an MBS pool with an issue date prior to March 1, 2009. With these program changes, mortgage loans are now eligible if they were purchased by Fannie Mae prior to June 1, 2009 or in an MBS pool with an issue date prior to June 1, 2009.

Desktop Underwriter® (DU®) and the delivery system edits will be updated to reflect the additional mortgage loans that are now eligible for inclusion in the program (loans purchased or securitized by Fannie Mae between March 1, 2009 and June 1, 2009). Consequently, DU will not identify these loan casefiles as eligible to be refinanced using DU Refi Plus until April 11, 2011, and DU and manually underwritten loans meeting the new eligibility requirement can be delivered to Fannie Mae on or after April 11, 2011.

The Obamarama continues...

2009-11-12T14:19:00.000-08:00

President Obama has approved a bill for the Housing Tax Credit Expansion and Extension. Here's what it means:

The $8,000 First-Time Homebuyer Tax Credit is Extended!
• First-time home buyers receive $8000 tax credit if they sign a purchase contract by April 30, 2010 and close by June 30, 2010.

• The home purchased must be their primary residence

• Buyer cannot have owned a home during the past three years

• Tax credit is up to 10% of the home value (not to exceed $8,000)

• Annual income caps to qualify for the tax credit have increased $125K for single filers / $225K for joint filers.

• Partial tax credit for incomes up to $145K for single filers / $245 for joint filers.

PLUS New $6,500 Tax Credit for Current Home Owners Purchasing a Primary Residence

• Eligible home buyers must have lived in their current home for 5 consecutive years of the past 8 years.

• The new home does not have to cost more than the old home.

• Eligible for homes with purchase agreements signed between November 6, 2009 and April 30, 2010, and close by June 30, 2010

• Annual income caps to qualify for the full tax credit ($125K for single filers / $225K for joint filers). Partial tax credit can be granted for incomes up to $145K for single filers / $245 for joint filers.

Monster House

2009-11-12T14:05:00.001-08:00

The former owner of a 16,000-square-foot mansion in Encinitas that neighbors called the "monster house" has been charged with stealing $1 million worth of fixtures, appliances and doors from the bank-foreclosed home, according to a published report.

The district attorney's office on Monday sent Suzy Brown, 45, a letter informing her she was charged with felony grand theft and felony vandalism, Deputy District Attorney Robert Eacret told the North County Times.
Brown was not arrested, Eacret said. She is scheduled to be arraigned on the charges Dec. 1 at the Vista courthouse. Bail could be ordered at that hearing, the prosecutor said.

On Tuesday, detective Steven Ashkar said Brown had returned most of the items removed from the house to the bank and kept in contact with detectives throughout their inquiry.

"I am aware that she had the ability to return certain items to the bank and to the house, and to the best of my understanding, she returned everything that was in her power to return," said Bob Grimes, an attorney who represented Brown during the investigation,

The home on Fortuna Ranch Road in Olivenhain was controversial from the beginning because many neighbors didn't want the massive structure built, the paper reported earlier this year. Brown's neighbors dubbed it the Monster House after the 15-bedroom villa began construction. The house fell into foreclosure in February and was vacant for about three weeks. In March, it was stripped of up to $1 million in imported fixtures, police said.

In April, Brown told the paper that she didn't know who stripped the structure but said she wasn't surprised by the turn of events. Brown, who built the house in 2004, had planned to turn it into a "recovery house" for patients looking to escape the clutches of drugs and alcohol, but the city killed the plan after neighbors complained about the $13 million villa.

People who live in Glass Houses....

2009-10-21T16:34:00.000-07:00

Top-secret glass house can be yours
This Laguna Beach, Calif., home is invisible from the street, but boasts 180-degree beach views (and an $11.85 million price tag).
Posted by Mai Ling at MSN Real Estate on Wednesday, October 21, 2009 9:54 AM

This $11.85 million home in Laguna Beach, Calif., features floor-to-ceiling glass with panoramic views of the ocean. (© Realtor.com)It's not that I wasn't intrigued by all of the homes listed in Forbes' write-up of America's Strange Homes for Sale, but when Move.com referred to this house as the bat cave...

Photos of the house, which features ceiling-to-floor glass walls that provide a 180-degree view of the ocean, certainly didn't hurt.

But the part I like best about this house in Laguna Beach, Calif., is its stealthiness. Not only is the home invisible from the street, but the owners also get to take a secret tunnel into the subterranean garage that also includes a hydraulic lift so you can bring a car straight into the home.

I don't know how much more like "Batman" you could get!

http://realestate.msn.com/blogs/listedblogpost.aspx?post=1330351&_blg=1,1330351

The Hamptons, darling, LONG ISLAND

2009-06-16T11:54:00.001-07:00

Four mansions on exclusive Georgica Pond in the Hamptons are on sale and are asking big bucks despite the recession.

The most recent addition to the market is a 25,000-square-foot estate on 5.5 acres that boasts 8 bedrooms, 11.5 baths, an indoor heated wave pool and a Turkish bath. The home, at 30 Wainscott Stone Highway, also includes an outdoor pool, tennis court and a 110-seat movie theater that is a replica of the famed Zeigfeld Theatre. Among its former renters are Madonna, Warren Beatty, Kevin Costner, Jay Z, Damon Dash and Jennifer Lopez.

According to real estate site StreetEasy, the home was put on the market on Friday for $19.995 million. It can also be rented for $200,000.

The property that has been for sale the longest is 81 Briar Patch Road. The mansion has been on and off the market for the past year, and most recently saw its price chopped by 1%, to $39.5 million.

Sotheby's first listed the 12,00-square-foot home for $40 million last April. It removed the listing in September for several weeks, according to StreetEasy, only to put it back on the market later in the fall at the same price. It then removed the listing, to put it back on in May 1% lower, although it isn't clear whether the cuts have gone deep enough. The home, which is next to a 16-acre meadow, boasts 18th century stone fireplaces, a walnut-paneled library, 30-foot ceilings in the living room and a separate 2- bedroom guest cottage.

Brown Harris Stevens has the listing of a 3.7-acre property on the east shore of Georgica pond. Facing west, it has more than 400 feet of water frontage, and boasts a four bedroom home designed by Peter Marino. The home is new, built in 1990, and includes a large living room, country kitchen and a master suite. It has been listed on the market for $27 million since November, 2008, according to StreetEasy.

Another property on the market is at 40 Laforest Lane. Unlike some of the other properties, it is near East Hampton Village, which could be a perk if you prefer not to be isolated in your estate, and choose to walk among the masses (albeit East Hampton masses) shopping at Calypso or Coach.

The home, which has been on the market since January for $13.5 million, boasts 250 feet of waterfront, a dock, waterside pool, and 5 bedrooms and 3 bathrooms.

Four mansions on exclusive Georgica Pond in tony East Hampton, Long Island are now on the market. Could it be the recession that's forcing them to sell?

The most recent addition is a 25,000-square-foot estate that boasts 8 bedrooms, 11.5 baths, an indoor heated wave pool and a 110-seat movie theater that is a replica of the Zeigfeld Theatre. Madonna, Warren Beatty, Kevin Costner, Jay Z, Damon Dash and Jennifer Lopez are among those who've rented the home, which is on the market for $19.995 million.

Ferris Bueller's Ferrari House For Sale

2009-06-01T09:58:00.000-07:00

By James Grahame

Here's your chance to own a piece of cinematic history - the location where Ferris Bueller's pal Cameron accidentally sent his father's prized Ferrari plunging through a picturesque plate glass window into the ravine below.
"The Ben Rose Home - site of the famous movie "Ferris Bueller's Day Off." Cantilevered over the ravine, these two steel and glass buildings - which can never be duplicated - have incredible vistas of the surrounding woods. This is a unique property designed by A. James Speyer and David Haid, both notable architects of the 20th Century."
These magnificent examples of mid-century minimalism (that's an exterior shot of the garage on the left) can be yours for only $2,300,000, or $433.96 per square foot.
370 Beech Street, Highland Park, IL [via Cory O'Brien]
Ferris Bueller's Day Off - Ferrari Scenes [YouTube]

Posted by James Grahame on May 26, 2009 at 03:12 PM in Household + Design, Movies & TV Shows | Permalink

wacky houses

2009-04-02T16:19:00.001-07:00

http://www.thisoldhouse.com/toh/photos/0,,20268781,00.html

Candy Land - $150 million

2009-03-31T10:11:00.000-07:00

Marriage to a mogul, fine art and life in 'The Manor.' Yes, Candy Spelling has 'Stories.'

By Irene Lacher

Los Angeles County's largest home, dubbed "The Manor." owned by Aaron and Candy Spelling is for sale. It boasts a two-lane bowling alley.

In her memoir, "Stories From Candyland: Confections From One of Hollywood's Most Famous Wives and Mothers" (St. Martin's Press), Candy cracks open the door to her life as a distinctive breed of Angeleno -- the ultimate trophy wife, not a member of the first wives' club, but the (usually younger) last wife. Spelling's chatty account traces her own trip to Fantasy Island from her youth as an L.A. model. The rewards of such a life -- which included a 56,500-square-foot French chateau-style cocoon and a first-class tour of Europe with 52 suitcases in tow -- are legendary.

Now that she's a widow, Spelling has also decided The Manor is too big for one person. As widely reported last summer, she bought a $47-million, 16,500-square-foot penthouse condo in the Century, a Century City building under construction and designed by star architects Robert A.M. Stern, Jean Nouvel and Richard Meier. She plans to move in to her new spread in about a year and has just put her home on the market with an asking price of $150 million (although real estate sources say a price in the low $100 millions is probably more realistic).

Spelling shows a visitor some of her treasures on display in the living room. Inside a cabinet are a dish that belonged to Egyptian King Farouk, a Fabergé cigarette case given to Cary Grant by Barbara Hutton, a 19th century bird box that chirps and the agate bottle she bought from the Chinese artist who painted it. She points to one of her first collections, a carefully positioned cluster of Chinese snuff bottles. "Tori used to play with them and then she'd break them, sometimes, the little spoons," she notes. "I stopped collecting them when I realized they could do fakes."calendar@latimes.com

Who Will Buy the Mansion???????????

2009-03-30T08:54:00.000-07:00

http://www.latimes.com/classified/realestate/news/la-hm-hotprop28-2009mar28,0,477343.story
From the Los Angeles Times

HOT PROPERTY
Hugh Hefner's home next to Playboy mansion for sale for $27,995,000
The two-story, 7,300-square-foot English Manor-style home was built in 1929 and bought by the Hefners in 1998.
By Ann Brenoff

March 28, 2009

OK, no more proverbial pressing your nose up against the gates hoping to catch a glimpse of what goes on at the Playboy mansion. Now you can live right next door and spy from the comforts of your own home.

Hugh Hefner and wife Kimberley have listed their personal residence, next to the Playboy mansion in Holmby Hills, for sale at $27,995,000. It's a Mini-Me to the adjacent party palace, a sister house if you will.

The two-story, 7,300-square-foot English Manor-style home was built in 1929 and bought by the Hefners in 1998. It sits behind private gates on 2.3 acres and has some of the original wood paneling, leaded-glass windows and a hand-carved staircase. There are hand-painted walls, a newly remodeled kitchen with a morning room and butler's pantry, two staff rooms, formal living and dining rooms, a library and family room. It has five bedrooms and seven bathrooms.

The grounds back up to the Los Angeles Country Club and include a pool. There is room for a tennis court, which would provide the new owner with plenty of excuses to visit next door when a ball errantly finds its way over the wall.

The home was designed by Arthur R. Kelly for the sister of Arthur Letts Jr., the original owner of the Playboy mansion. The Hefners are selling the home because their two sons will soon head to college.

Hugh Hefner, 82, is the founder of Playboy Enterprises. Kimberley Hefner was Playboy's Playmate of the Month in January 1988 and was Playmate of the Year in 1989.

Joyce Rey and Stacy Gottula of Coldwell Banker Previews International, Beverly Hills, share the listing.

ann.brenoff@latimes.com

Bloodletting

2009-02-25T08:21:00.000-08:00

As of February 2009

This just in from CNN

Existing home sales lowest since '97
Realtors say sales fell 5.3% in January, believing would-be buyers delayed purchases due to stimulus talk.

* Existing home sales lowest since '97

Mortgage Rates
Type Overnight avgs
30 yr fixed mtg 5.22%
15 yr fixed mtg 4.84%
30 yr fixed jumbo mtg 6.89%
5/1 ARM 5.07%
5/1 jumbo ARM 5.84%
Find personalized rates:

NEW YORK (CNNMoney.com) -- Sales of existing homes fell in January to their lowest levels in nearly 12 years, with a real estate group saying buyers delayed purchases in anticipation of government programs to boost the housing market.

The National Association of Realtors said Wednesday that existing home sales dropped 5.3% last month, to a seasonally adjusted annual rate of 4.49 million units from a rate of 4.74 million in December.

The Real Estate Revolution...

2009-02-25T07:54:00.000-08:00

the Obamarama Housing Market

2009-02-21T18:20:00.000-08:00

Let's see, what's in it for me?

Homebuyer Tax Credit

The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

FHA, Fannie Mae and Freddie Mac Loan Limits

The bill reinstates last year's 2008 loan limits for FHA, Freddie Mac, and Fannie Mae loans. These limits were equal to the greater of 125% of the 2008 local area median home price or $271,050 for FHA and $417,000 for Fannie and Freddie, with an overall maximum cap of $729,750. For the few areas where the 2009 limits were higher, the higher limits will apply.

In addition, the bill includes language providing the HUD Secretary with the discretion, if warranted, to increase the loan limit for any "sub-area", i.e.an area smaller than a county. The Secretary's discretion is again limited by the $729,750 cap. These 2009 limits will expire December 31, 2009.

Neighborhood Stabilization

Division A, Title XII of the bill provides $2,000,000,000 in additional funding for the Neighborhood Stabilization Program (NSP).

The NSP was created by the Housing and Economic Recovery Act of 2089 (Public Law 110–289) to provide grants through the Community Development Block Grant program (CDBG) to states and localities to address the problems that can be created when whole neighborhoods are decimated by foreclosures.

The funds can be used to purchase, manage, repair and resell foreclosed and abandoned properties. In addition, the funds can also be used by states and localities to establish financing methods for the purchase and redevelopment of foreclosed properties. After purchase the homes must be used to assist individuals and families with incomes at or below 120% of area median income. Twenty-five percent of funds must be used for households with incomes at or below 50% of area median income.

So, pick one of the above and maybe, just maybe, you will be back in black

Lower your payment?

2009-02-18T07:44:00.000-08:00

$75 Billion to reach 9 million homeowners with restructured, refinanced loans expanding the role of the Mac's, Freddie and Fannie.

We'll see. For one thing, foreclosure usually begins after three to four months of non payment of the mortgage, or DEFAULT, and while many banks have done LOAN MODIFICATIONS, my boots-on-the-ground householders say it varied by a whopping $50 bucks or so. And, there is no shortage of willing land sharks trying to help these poor people who obviously didn't understand the terms of their mortgage loans in the first place. I understand - I remember when I bought my first car and they actually let me walk off the lot with it. Suckers!

Now for my ritual zen saying of the day:
"Do you own the house or does the house own you?"

After giving banks, billions of dollars, now will homeowners get relief from default?
Will their loans be modified to reflect the actual value of the house? I think not.
The only ones who will benefit are the banks, just like the last time the country crashed and burned in the 1980s. The country formed the Resolution Trust corporation and bought up all their assets and then auctioned those off.

I will wait and see...

Trulia.com and forclosures

2009-02-17T19:07:00.000-08:00

http://www.trulia.com/blog/rudy_bachraty/2009/02/trulia_foreclosure_gloss

it never ceases to amaze me how the internet has increased the power of slave labor...
but here you go. If you want to be a foreclosure expert, sign on - for free!

Buy a WRECK of a House NOW!

2009-02-16T10:09:00.000-08:00

http://www.thisoldhouse.com/toh/photos/0,,20256816,00.html

Jeanne Baron of This Old House online reports:
"The next stage of the national housing crisis is well underway, especially in communities that have been in the center of the implosion of the subprime housing market. From California to New York, there are houses for sale for pennies on the dollar, and in a scattering of hard-hit neighborhoods some houses are going for a few thousand dollars each. These houses present intriguing opportunities to buyers willing to put some care into their rehabilitation. In many cases, they sell quickly. Here's a sample of what we found still on the market or recently sold."

Also: read 9 tips for buying a foreclosure, also by Jeanne Barron:
http://www.thisoldhouse.com/toh/article/0,,20259084,00.html

HOW do you get to be Brangelina's Real Estate Agent!

2009-02-05T10:59:00.000-08:00

Okay,
I wonder about these two....three or four kids are in diapers, right?
They must have access to the Star Trek transporter since one day they are in NY and the next they are in Europe and the day after, they are in L.A. and not only that - they buy and rent houses and castles all over the globe and don't seem to stay very long. So, they must have their very own real estate people, don't you think?

From the Realestalker-
Sassafras, the 40-some acre estate in staid Lloyd Neck, NY
where the perpetually peripatetic pair reportedly leased for a few months while Miss Jolie, who keeps threatening that she's going to take a break from working in order to spend some time with all her 47 kids, is scheduled to film her next movie.

Buy Britney's House marked down to $7M

2009-01-29T15:02:00.000-08:00

2094 Summit Cir, Beverly Hills CA 90210

MLS ID: #F1783983

2,579 views as of 1/28/09

$7,195,000
5 br 6.0 ba 7,453 Sqft
Single-Family Home

Listing Agent: Tomer Fridman

Ph. (818) 222-9500

Listing Broker: www.sothebysrealty.com

Exquisite gated Italian Renaissance inspired Villa w/in the exclusive guard-gated Summit. This magnificent Estate offers approximately 7,500 square feet of luxury, 6 BD, 6 BA, gated motor court, wet bar, maid s quarters, library, smoking room/den, sophisticated formal dining room, & a grand entrance foyer. Artisan quality finishes are highlighted by dramatic high ceilings, providing a sense of unmatched scale & volume. Old world craftsmanship and designer details including carved millwork, stone & mosaic tile floors, & elegant iron accents are found throughout. A brilliant state-of-the-art chef s kitchen with Viking appliances, walk-in pantry, & large breakfast nook open to the spacious family room. The breathtaking Master suite offers his and hers baths, fireplace, & romantic loggia. Manicured rear grounds afford a pool, spa, elegant arbor, and lush landscaping ideal for year round entertaining. This grand estate is offered with select furnishings, accessories, and art work.

Street Number:	12094
Apt Number:
Street:	Summit Cir
City:	Beverly Hills
ZIP Code:	90210
Beds:	5
Baths:	6.00
Sqft:	7,453 sqft
Year built:	2001
Lot Size:	15,930 sqft

Listing Price
Current listing price:	$7,195,000
Sales History
March 20, 2002	$2,650,000
August 18, 1999	$760,000
March 18, 1998	$579,000
Source: Public Records

Buy Leo DiCaprio's House in the ' BU

2009-01-08T15:53:00.000-08:00

I am the new Queen of Baja!

2008-11-30T14:46:00.000-08:00

Headline from the New York Times

Americans Stake Claims in a Baja Land Rush

TIM WEINER

Slowly but surely, acre by acre,

Mexico

's Baja Peninsula is becoming an American colony.

Published: October 26, 2003

NOPALÓ, Mexico— Slowly but surely, acre by acre, Mexico's Baja Peninsula is becoming an American colony.

''For Sale'' signs are sprouting all over the 800-mile-long peninsula, offering thousands of beachfront properties. Americans are snapping them up. They have already created communities where the dollar is the local currency, English the main language and Americans the new immigrants transforming an old culture.

''Everything's for sale, every lot you can imagine,'' said Alfonso Gavito, director of a cultural institute in La Paz, the capital of Baja California Sur, a state with 400,000 citizens and some of the last undeveloped beaches in North America. ''It's like 20 years of changes have happened in three months.''

This new land rush, involving billions of dollars, tens of thousands of Americans, and hundreds of miles of coastline, is gaining speed despite the fact that Mexico's Constitution bars foreigners from directly owning land by the sea.

Mexico's government wants foreign capital as much as Americans want a house on the beach -- maybe more. So it worked around the Constitution. In 1997, it changed the law to allow foreign ownership through locally administered land trusts. A Mexican bank acts as trustee, the foreigner its beneficiary.

It took about four years before that new system worked smoothly. But now, most often, it does. One result has been a boom in migration, speculation and permanent vacation. ''It's human greed -- it's human nature,'' said David Halliburton, who owns a hotel outside Cabo San Lucas, on Baja's southern tip, where uncontrolled growth already strains the social fabric. ''The amount of money coming in here through overzealous developers and buyers is staggering.''

Baja is closer by land and air to the United States than it is to the rest of Mexico; state officials recorded more than 30 million trips by Americans who spent well over $1 billion last year. They say they have no idea how many Americans are living in Baja today, because a certain number are illegal immigrants who never register their presence. Anecdotal and statistical evidence suggests that the number is more than 100,000, probably far more, and growing fast since the Sept. 11 attacks and the souring of the economy in the United States two years ago.

''Since 2001, we have seen a boom in real estate sales, and the full-time population of Americans is growing rapidly,'' said Tony Colleraine, an American in San Felipe, about 160 miles southeast of San Diego. He said about one-quarter of the town's roughly 30,000 residents were Americans, many of whom want to ''get away from the regulations and rhetoric, and get out of the bull's-eye'' in the United States.

In Rosarito, an hour's drive south of the United States border, about one-quarter of the 55,000 residents are Americans. ''An increasing number of Americans are moving here to escape their government's policies and the costs of living,'' said Herb Kinsey, a Rosarito resident with roots in the United States, Canada and Germany. ''They find a higher standard of living and a greater degree of freedom.''

At least 600,000 Americans -- again, an acknowledged undercount based on government records -- are permanent residents of Mexico. That is by far the largest number of United States citizens living in any foreign country.

Americans living throughout Baja say their new neighbors include professionals in their 30's and 40's putting down roots, not just retirees in recreational vehicles. In Rosarito, the new home buyers include lawyers and members of the military who commute across the border to San Diego, where housing costs are about five times higher. A pleasant house by the Pacific in Rosarito can cost less than $150,000; property taxes are about $75 a year.

However, this situation has changed as of 2011, update coming soon...

Buzz Word of the Week: LOAN MODIFICATION

2008-11-11T13:59:00.001-08:00

- U.S. mortgage plan sets standards for loan modifications – goal is to reduce  payments to no more than 38% of borrower’s income.  Log on to http://money.cnn.com/bn for the latest news.

Online Auction Site for Foreclosures!

2008-11-11T08:54:00.000-08:00

http://zetabid.com/Default.aspx

Zetabid is a national consumer brand that makes it easy and convenient for consumers to purchase bank and builder-owned properties at public auctions.

A venture of the Los Angeles Times Communications LLC, GoIndustry DoveBid and CataList Homes, Zetabid expands access to the inventory of residential properties sold at auction and opens up the market to U.S. and international buyers. Zetabid offers the widest reach and greatest awareness of auction inventory through its national network of print, broadcast and online partners.

You mean Cindy's House?

2008-10-31T11:33:00.000-07:00

John McCain's home on the market!
One of the former homes of John and Cindy McCain in Phoenix, Arizona is for sale for a cool $12 million. The Presidential candidate is rumored to own seven homes across California, Arizona, and Virginia. Their former pad sits on 2+ acres with over 14,000 square feet. The remodeled Southwest-style home includes a wine cellar, fitness center, theater, lap pool with his & her cabanas, separate pool house, and a patio with spa and built-in fireplace for those cold desert nights. But most impressive are the three Ramadas and playhouse in the backyard.
Check out John McCain's mansion here »

Subprime cartoon

2008-10-07T15:39:00.001-07:00

http://docs.google.com/TeamPresent?docid=ddp4zq7n_0cdjsr4fn&skipauth=true&pli=1

Sign of the Times

2008-10-05T09:11:00.000-07:00

Mortgage forgiven for woman, 90, who shot herself

October 05, 2008 10:31 AM EDT

AKRON, Ohio - Mortgage finance company Fannie Mae said it is forgiving the mortgage debt of a 90-year-old woman who shot herself in the chest as sheriff's deputies attempted to evict her.

Addie Polk's plight was cited by Rep. Dennis Kucinich, D-Ohio, on Friday before the House voted to approve the $700 billion financial rescue package. Kucinich voted against the plan.

Fannie Mae announced later Friday that it would dismiss its foreclosure action, forgive Polk's mortgage and allow her to return to the Akron home where she's lived since 1970.

"Just given the circumstances, we think it's appropriate," Fannie Mae spokesman Brian Faith said, citing Kucinich's statement and news reports. "It certainly made our radar screen."

Polk remained in Akron General Medical Center and was expected to recover from chest wounds suffered last week.

She became the home's sole owner in 1995 when her husband died, then took out a mortgage loan in 1997 and refinanced several times, court and property records show.

Countrywide Home Loans filed for foreclosure last year, and Polk's home was sold to Fannie Mae at a sheriff's auction in June. Deputies were to escort Polk from her home Wednesday when gunshots were heard inside.

Polk's longtime neighbor, Robert Dillon, climbed through her window and found her lying in bed bleeding with a gun next to her. He visited Polk in the hospital on Friday.

"She said it was a crazy thing to do, now that she's had time to think about it," Dillon said.

---

Information from: Akron Beacon Journal, http://www.ohio.com

Palm Springs CA Foreclosure World

2008-08-30T10:21:00.000-07:00

	79332 Cool Reflection Must See!! Type: Single Family Home Location: 55+ City Community Price: $277,000 Get more information >

	2803 Via Calderia Must See!! Type: Condo Location: Palm Desert Price: $249,900 Get more information >

	69130 Gerald Ford Dr #23 Must See!! Type: Condo Location: Cathedral City Price: $129,500 Get more information >

	78590 Forbes Cir Check This Out!! Type: Single Family Home Location: La Quinta Price: $419,000 Get more information >

	44905 Calle Santa Barbara Beautiful Bank Owned Home! Type: Single Family Home Location: La Quinta Price: $409,900 Get more information >

	10 Tucson Cir Fabulous price and shows great!! Type: Single Family Home Location: Palm Desert Price: $359,000 Get more information >

	68685 Durango Rd Type: Single Family Home Location: Cathedral City Price: $275,500 Get more information >

	27155 Ventura Dr **Bank owned Type: Single Family Home Location: Cathedral City Price:** $149,000 Get more information >

	30655 Avenida Del Padre Bank Owned!!! Type: Single Family Home Location: Cathedral City Price: $249,900 Get more information >

	963 Mira Grande Type: Single Family Home Location: Palm Springs Price: $349,900 Get more information >

	3006 N Cypress Rd Check It Out! Type: Single Family Home Location: Palm Springs Price: $327,500 Get more information >

Malibu CA foreclosure World

2008-08-27T11:47:00.000-07:00

Atlanta Fed President Dennis Lockhart welcomed the recent rise in the U.S. dollar, but said home prices in the U.S. could fall another 10-15%.

Following a speech at an Economic Outlook Conference in Atlanta Wednesday, Lockhart said "housing prices will continue to decline," perhaps by as much as 15%.

If you own a house and have outstanding home equity loans or the infamous CASH OUT REFI, you are in trouble, as the value of your house is declining.

But, if you do not own a home, prices are back to a reasonable level.

For example, check out Malibu California foreclosures, courtesy of Trulia.com

29921 Harvester Rd, Malibu CA

$10,000

Single-Family Home

Keller Williams Rea…

Address Not Disclosed

$10,500

3 br 3 ba 3,000 sqft

Apt/Condo/Twnhs

JUST ADDED!

HomesAndLand.com

32800 Pacific Coast Hwy, Malibu CA

$25,000

3 br 3 ba

Single-Family Home

pritchett-rapf.com

20802 Pacific Coast Hwy, Malibu CA

$30,000

3 br 5 ba

Single-Family Home

RE/MAX Marquee Part…

Castlewood, Malibu CA

$39,000

Lot/Land

Coldwell Banker Res…

Puerco Canyon Rd, Malibu CA

$51,740

7 br 8 ba 7,587 sqft

Single-Family Home

FORECLOSURE

RealtyTrac

Listing preview

Mar Vista Dr, Malibu CA

$57,750

Lot/Land

themls.com

Listing preview

Maguire, Malibu CA

$59,000

Lot/Land

Coldwell Banker Res…

Listing preview

Save Email Alerts

Debutts Ter, Malibu CA

$59,000

Single-Family Home

FORECLOSURE

RealtyTrac

Corral Glen Dr, Malibu CA

$90,000

Lot/Land

themls.com

Listing preview

Save Email Alerts

Address Not Disclosed

$95,000

Lot/Land

themls.com

4300 Escondido Trl, Malibu CA

$99,000

Lot/Land

labesthomes.com

Greenspan Speaks!

2008-08-15T14:06:00.001-07:00

Alan Greenspan Sees Housing Prices Sort of Hitting Bottom in mid-2009

Fri, 15 Aug 2008 12:19:03 EST
Greenspan said that he expects housing prices to begin to stabilize in the first half of 2009 although they could continue to drift lower for quite some time thereafter, even after essentially reaching bottom.

Greenspan, however, is not changing his long-standing belief that Freddie Mac and Fannie Mae represent the root of all evil...

Land Shark!

2008-07-01T16:01:00.000-07:00

In the current mortgage meltdown, it is CaptnMortgage's obligation to enlighten readers as to the nature of the home loan industry....

stay tuned....

Captn Mortgage

To be continued....

Homeowner assistance program is expanded

http://inhabitat.com/artist-victor-moore-builds-an-incredible-junk-castle-for-just-500/junk-castle/?extend=1

Home sweet underwater home...

Mitt's Crib in La Hoya...

GOP cribs: Where the candidates live

It may not be 1600 Pennsylvania Ave., but the presidential candidates reside in some pretty nice digs. Here's a look at where they live -- at least, for now.

Celebrity Living Rooms Homes & Spaces: architecturaldigest.com

Sinatra Slept here...

The Worst Business Model...

Your Own Private Idaho or Hawaii

The Late Great Kate Hepburn's House, but where are the Callilillies?

Flea bitten?

Hot Property in the Bu for sale....

Hidden treasure...Emerald Isle and North Carolina outerbanks...or Barrier Islands

Real Estate Steal in Clearwater FLA

John Travolta's airplane and garage

Dell's Hell....

The Eternal Vacation courtesy of Jetsetter

Buy Nick Cage's House or houses

HARP from Mortgage News Daily...

The Obamarama continues...

Monster House

People who live in Glass Houses....

The Hamptons, darling, LONG ISLAND

Ferris Bueller's Ferrari House For Sale

By James Grahame

wacky houses

Candy Land - $150 million

Who Will Buy the Mansion???????????

Bloodletting

The Real Estate Revolution...

the Obamarama Housing Market

Lower your payment?

Trulia.com and forclosures

Buy a WRECK of a House NOW!

HOW do you get to be Brangelina's Real Estate Agent!

Buy Britney's House marked down to $7M

Open House Times

Buy Leo DiCaprio's House in the ' BU

I am the new Queen of Baja!

Headline from the New York Times

Americans Stake Claims in a Baja Land Rush

Published: October 26, 2003

Buzz Word of the Week: LOAN MODIFICATION

Online Auction Site for Foreclosures!

You mean Cindy's House?

Subprime cartoon

Sign of the Times

Palm Springs CA Foreclosure World

Malibu CA foreclosure World

Greenspan Speaks!

Land Shark!