Real Property Check

Real Estate Reality Check™ - Building Wealth in Real Estate

  • Buying
  • Selling
  • Financing
  • Investing
  • The Economy
Stockton, Mammoth Lakes & San Bernardino file for bankruptcy

realpropertycheck.com July 18, 2012

Stockton, Mammoth Lakes & San Bernardino file for bankruptcy

According to data made recently available by Trulia.com we still haven’t reached the bottom of the mess. In real estate there is still no recovery  in sight, because many of our country’s largest cities are still struggling with weak demand, high foreclosure rates and maybe worst of all, negative equity is spreading like a wild-fire .

Most of the trouble concerns–the state next door–California, because in the good times expenses tends to let budgets balloon and in today’s leaner times, there is little political will to make the necessary cuts.

Licensing: Wikimedia Commons, Wikipedia.org

And while California as a state has (not) been ‘dealing’ with a looming bankruptcy for quite some time by just dodging it.

Living on the edge seems to be the ‘new normal’ and many Californians just seem shrug the impending doom and gloom off. But apparently kicking the can down the road is obviously not a sure-fire concept to handle the situation as Stockton, Mammoth Lakes and San Bernardino have shown. These three cities have one fate in common, they are now all bankrupt.

Stockton is located in the Central Valley; Mammoth Lakes is close to the Yosemite and the Sierras landmark; and San Bernardino, is in the sprawling Inland Empire–locally know as the I.E.–which is just east of Los Angeles.

Municipal bankruptcies used to be extremely rare, but that’s no longer the case and in states like California the bureaucratic  red tape has grown so rapidly, that cutting back is easy to advocate, but very hard to implement. Republican Governors like Arnold Schwarzenegger and Democratic counterparts like Jerry Brown had to recognize that cutting back the expenses to a sustainable level is a rather sisyphean task.

And–according to Huffington Post–the next bankruptcy is just looming around the corner: Compton, CA has to decide until September 1st whether it needs to file for bankruptcy.

Filed Under: The Economy Tagged With: bankruptcy, featured

Crowdsourcing Neighborhood Information with Google Map Maker Debuts in the U.S.

realpropertycheck.com April 20, 2011

Crowdsourcing Neighborhood Information with Google Map Maker Debuts in the U.S.

Google announced it is letting users update Google Maps and Google Earth information in the U.S. through Google Map Maker, the crowdsourced mapping tool for publicizing neighborhood information. Google, however, won’t take input from other community map sources, such as Open Street Map or Waze.

Google’s map editing features will allow the addition of commercial data such as businesses locations and more specific street information such as temporary closures due to construction projects. You can add places as well as draw lines and shapes depicting railroads, back alleys or parking lots.

Users’ updates undergo a vetting process coordinated by previously accredited users. Moderators can approve or reject edits or send them back for a revision. Users’ participation earns them karma which counts towards acquiring the status of a moderator.

So far, Google Maps offers no support for mapping locations such as stores or businesses which are layered on top of one another. 3D features are clearly something Google cannot postpone indefinitely.

For now, Google has added street-level perspective with embedded images from Street View.

Google Map Maker is a tool real estate professionals in this country should keep a watchful eye on. You can check it out for yourself right here.

Filed Under: Apps Tagged With: Google Map Maker, location

Prime Mortgage Redefined: Federal Regulators Are Pushing New Rules

realpropertycheck.com March 29, 2011

Prime Mortgage Redefined: Federal Regulators Are Pushing New Rules

Federal regulators irked the industry with proposed changes to lending rules which could rise the cost of borrowing and deliver another setback to any hopes of a swift recovery.
[Read more…]

Filed Under: Financing

  • « Previous Page
  • 1
  • 2
  • 3
  • 4
  • …
  • 17
  • Next Page »

Categories

  • Apps (3)
  • Books (3)
  • Buying (25)
  • Financing (21)
  • Homeowners' Club (20)
  • Investing (24)
  • Other Stuff (11)
  • Selling (14)
  • The Economy (18)

Tags

bankruptcy building wealth in real estate commercial real estate contract for deed David Lindahl deed delinquent loans distressed properties Donald Trump double-dip Fannie Mae featured FHA financial regulation foreclosure foreclosures Frank-Dodd bill Freddie Mac HAMP HARP HOA home prices house rules keeping records lease option lien loan modifications mortgage mortgage originator no-docs loans notice of default prohibition of steering incentives real estate developers real estate investing Rent to Own REO residential robo-signing Robo Gate seller financing setting the price title insurance unsold inventory wraparound mortgage Zillow

Tags

bankruptcy building wealth in real estate commercial real estate contract for deed David Lindahl deed delinquent loans distressed properties Donald Trump double-dip Fannie Mae featured FHA financial regulation foreclosure foreclosures Frank-Dodd bill Freddie Mac HAMP HARP HOA home prices house rules keeping records lease option lien loan modifications mortgage mortgage originator no-docs loans notice of default prohibition of steering incentives real estate developers real estate investing Rent to Own REO residential robo-signing Robo Gate seller financing setting the price title insurance unsold inventory wraparound mortgage Zillow

Archives

  • December 2015
  • May 2014
  • July 2012
  • April 2011
  • March 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010

Copyright © 2021 · Streamline Pro Theme on Genesis Framework · WordPress · Log in