GLG News by Land Banking Experts (US)

Howard LiggettPresident and CEODistressed Real Estate Consulting Services, Inc.

HELOC Losses are Increasing and Will Reduce Access to the American Dream

June 23, 2008

Analysis of: The American Dream Goes On | www.usnews.com

In their first quarter results, several banking organizations reported stunning losses and provisions generated by these loans, with predictions of much more to come in future quarters. Indeed, national banks, which hold about half of all home equity loans, sustained as much loss from this type of credit in the first quarter of this year than they did in all of 2007.  Home equity lending has grown dramatically in recent years, more than doubling since 2002 to about $1.1 trillion outstanding!

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: The Recovery Begins!

June 17, 2008

Analysis of:HOME INVENTORY INCREASES IN MAY | www.lvrj.com

May data for the Las Vegas housing market suggests that recovery is underway for the resale market.  Unfortunately, the data clearly points out that recovery does not yet extend into the new construction arena.

Jim BelfiorePresidentBelfiore Real Estate Consulting

Another Lesson to be Learned?

June 16, 2008

Analysis of:Lessons From the Housing Bubble | online.wsj.com

Our next lesson may be that homebuyers should carry some of the financial risk associated with owning a home.

Jim BelfiorePresidentBelfiore Real Estate Consulting

Phoenix Attached Projects in Trouble

June 6, 2008

Analysis of:$3.1M lien filed against condo developer | www.bizjournals.com

The question many looking from the outside-in may soon start asking is, “How many buyers are there for $300 / square foot to $800 / square foot housing in Phoenix?”  As the single-family market bottoms out, the answer will come.  Hopefully the timing is sooner rather than later.

Carl StreckOwner & PrincipalMountainseed Advisors

CDD's aren't all their cracked up to be...

June 5, 2008

Analysis of:Residential real estate set to double | www.business24-7.ae

For years developers were utilizing this public finance tool as a way to drive up their bottom line while passing on the infrastructure cost to the end homeowner. This is a thing of the past.

Howard LiggettPresident and CEODistressed Real Estate Consulting Services, Inc.

Stain Upon Mortgage Industry Will Not Be Easily Removed

June 4, 2008

Analysis of:Survey Says Americans Have No Faith in Lenders | www.dsnews.com

Kerri Panchuk's article addresses the most significant intangible loss brought about by the subprime mortgage failures.  Namely,the loss of consumer borrower trust which may never be fully regained as long as predatory mortgage horror stories continue to capture headlines and replace mortgagor confidence with skepticism and even disdain.

Anthony TrellaCEO/PresidentThe Meranth Company, Inc.

Why is there no effort by the media to understand the DEMAND side of the housing industry?

June 2, 2008

Analysis of:The Truth Behind Florida's Housing Numbers | online.wsj.com

This article is just another example of somewhat reckless reporting by the “drive-by” media. Yes, there was excessive overbuilding of housing during the three years prior to 2006.  Yes, there is a huge number of empty or unsold housing that must be sold over the next few years.  This message is old and it has been beaten to death -- supply – supply – supply.  It’s time for new media people to step up and deal with demand.  It’s time for media people with housing knowledge and business savvy to study and put forward visions of the housing recovery.  We need in-depth segmentation of facts.  In south Florida, unsold, high rise, luxury condo’s have very little to do with current and future housing needs of the mass workforce.  Why is such housing data merged with all other housing data as if they are one and alike?  Why is there no expressed understanding of the limited amount of undeveloped land remaining in south Florida  for the very certain growth of housing that will come?

Jim BelfiorePresidentBelfiore Real Estate Consulting

For Buyers with Income, Feelings are Problem, not Financing

May 29, 2008

Analysis of:Consumers Are Downbeat on Economy | online.wsj.com

An improvement in consumer sentiment will lead to an improvement in new home traffic and home sales, as well as an improvement in other areas of the economy.  Buyers that “feel” good make confident purchases.  Watch consumer sentiment and confidence indices, as well as BREC traffic count figures, for improvements, which we expect late in 2008.

Jim BelfiorePresidentBelfiore Real Estate Consulting

HOA Bankruptcies Coming

May 27, 2008

Analysis of:As Dues Dry Up, The Neighbors Pay | online.wsj.com

Rising costs and high delinquencies are pushing HOAs into bankruptcy.  Add HOA solvency to your underwriting checklist.

Howard LiggettPresident and CEODistressed Real Estate Consulting Services, Inc.

Connecticut Bucks National Trend of Inventory Overbuild

May 23, 2008

Analysis of:Housing Prices Going Lower | www.lvrj.com

It easy to think nationally when reading of the foreclosure number increases;the glut of homes and the downward impact on price point when,in fact,there are many regions of the country that have not been as adversely affected by speculator development and inflated land values.  Connecticut is one of several states that have weathered the storm and continue to have considerably healthier residential markets.

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