Tenants Now Have to Bow to Landlords’ Rent Increases

Rents will be going up. And It’s about time…

That’s the latest good news for landlords.

What’s more, our more contrite tenants will be accepting this.

High RiseRents will be going up. 

 

That’s the latest good news for [tag-tec]landlords[/tag-tec]. 

 

For the first time in 20 years, an estimated one in four tenants will be paying over half their income in rent.

 

This is shaky ground at the very least. 

 

Our policy  with our tenants has been the rents should be around 25% to 30% of their income.  However, we will probably have to re-think that.

 

Another major change is tenants are now expecting to pay higher rents.  This is significant because we aren’t having to pass out the deals anymore.    We can also increase rents to meet our rising property taxes.

 

Landlords will no longer  be losing  large numbers of tenants to home ownership.  Now that the days of easy subprime credit are over [tag-self]tenants[/tag-self] will stay put as they save for that first home. 

 

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Bush Wants FHA to Help Subprime Distressed Owners

President Bush will announce today that he wants the [tag-tec]Federal Housing[/tag-tec] Administration to step in and help an estimated 80,000 subprime distressed owners to save their homes.

House of MoneyPresident Bush will announce today that he wants the  [tag-tec]Federal Housing[/tag-tec] Administration to step in and help an estimated 80,000 subprime distressed owners to save their homes.

This has never happened before since the FHA’s  past policy has been not to take a role in stopping foreclosures.

 

One reason for this unprecedented move  may be because of the numbers.  Almost 16% of [tag-self]subprime borrowers[/tag-self] are already in trouble.  $600 billion  is scheduled to be reset to increased rates from now to the end of 2008. 

 

Why now?

 

I believe it’s an effort to save the economy from a [tag-ice]recession[/tag-ice].  If large numbers of these distressed owners go down they could possibly take not only their lenders, but many retailers and possibly the car industry with them. 

 

After all, if you are having money troubles, you can’t spend.  But perhaps that’s where all these problems started.  Over spending.

 

But it may be more of a political move.  2008 will be an election year.  Seeing distressed owners on the 6 o/clock news every night won’t fare well for voters. 

 

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Real Estate Investments in Miami Condo Market Cook Unwary Speculators

They thought they had it made with their real estate investments in hot pre-construction Miami condos. They were told their property portfolios could never hold enough of these nuclear deals. They were right on schedule to make a killing.

So they kept buying into it. First one condo, than a second one. Now speculative condos three and four could possibly bring this young couple to their financial knees. That’s because they are losing several hundred thousand dollars.

How did it happen?

 

Elephant

They thought they had it made with their real estate investments in hot  [tag-tec]pre-construction[/tag-tec] Miami condos.  They were told their property portfolios could never hold enough of these nuclear deals.  They were right on schedule to make a killing.  

 

So they kept buying into it.  First one condo, than a second one.  Now speculative condos  three and four could possibly bring this young couple to their financial knees.  That’s because they are losing several hundred thousand dollars.   

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Where to Find the Best Discounts on New Homes Online

Builders are giving out incentive goodies on new houses. Buyers who are interested in residential properties are being offered everything from free rooms, to 15% to 20% discounts over last year’s prices. We needn’t mention many builders are paying closing costs.

Where can you find the deals?

Falling MoneyCome and get them!

 

Builders are giving out incentive goodies on new [tag-tec]houses[/tag-tec].  Buyers who are interested in residential properties  are being offered everything from free rooms, to 15% to 20% discounts over last year’s prices.  We needn’t mention many builders are paying  closing costs.

 

The biggest advantage  from our point of view?  Negotiation.  Many builders are  now interested in hearing your offers.   

 

And there’s more… 

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Homeowner Gets Jail Time for Codes Violations

A homeowner is being sent to jail for making some improvements on his property.

This is a new twist to the old game of fighting city hall codes because it is rare for anyone to be threatened with jail time. Usually the codes offender gets a hefty fine.

Rolling TankHere is some disturbing news out of  Los Angeles. 

 

A [tag-tec]homeowner [/tag-tec]is being sent to jail for making some improvements on his property. 

 

 This is a new twist to the old game of fighting city hall [tag-self]codes[/tag-self] because it is rare for anyone to be threatened with jail time.  Usually the codes offender gets a hefty fine.

 

Francisco Linares, who is a highly successful insurance agent  and respected naturalized, church-going citizen  of the city of  Rolling Hills Estates, California, will be serving time along with drug dealers, child molesters and  burglars.

 

Unless a miracle happens between now and September 10th, he’ll be in there for six months. 

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