Matt Gerchow's Blog (7)

Finally a little bit of good news in the housing sector.  Bloomberg is posting that closings on "existing homes" (leaves out new construction) are up 12 percent.  That is higher than expected.  Get the full scoop here.

http://www.bloomberg.com/news/2011-01-20/existing-u-s-home-sales-jump-to-seven-month-high-as-buyers-lock-in-rates.html

From sources deep inside Fannie Mae, it appears that there are internal investigations going on regarding the signing of documents, without home-owers awareness. While investigations continue, MarketWatch has released the following.

 

WASHINGTON (MarketWatch) — The White House is unsure about how to go about reforming troubled housing giants Fannie Mae and Freddie Mac and a soon-to-be-released Obama administration report will reflect that uncertainty, regulatory observers were…

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Seems after everything is said and done, there are more homes available than there are qualified buyers.

That makes sense, considering the banks were giving $400k loans to supermarket workers just 4 years ago.

I have seen people that are admin assistants buy $600k homes... all in order to keep up with the Jone'ses.

Here is a link to the detailed list of states that are running out of buyers. …

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Today's post is very short.



In real estate investing you have to remember that you are ultimately the buyer. you call the shots. You make the terms, you have the money.



I know that when you have the opportunity to make money you will have to step out and risk a little but just remember that a chain will break at its weakest link.



Make sure you are in touch with your gut. If it seems too risky it probably is. Be generous with your sellers, but not on the bottom… Continue

I have to say, every day is such an adventure in Phuket. You really don't know what is going to happen from one day to the next. There is so much to see and do.



I was informed yesterday that one could eat in a new restaurant for 500 days and by the time they got to the end there would probably be 500 more to choose from.



Met a couple from France this morning. Interesting twosome. They work in Internet Marketing for a company out of New York called Webgains.



Little… Continue

When most people hear that I am 12 hours opposite of them they initially lump me in with the Philipinnes and the other virtual employees they find on Elance.





Then they learn that I'm from the United States and their whole tone changes.



Living in Thailand has opened my mind to experiences and a way of life I only thought was possible. As I write this I'm sitting on a cushiony wicker couch in the 20 ft tall open lobby of my hotel / apartment.



Right now it is… Continue

As many of you that know me already know, I have relocated headquarters for Real-estate-investing.com to Phuket, Thailand.



There's one word that describes this place better than most, MAGICAL.



I rallied the troops to start out the trip with me and things got a little nuts. My wife, little Matteo and I are here for six months. That did not happen by accident. This took careful planning and most of all the ability to walk away from our life in Bogota (I know, not so ordinary… Continue