Funny News from around the US

Well hello again anyone who even bothers to read this stuff! I don’t get many comments so I am starting to wonder whether or not anyone bothers to give a darn. Whether you do or not, I will continue to write. It helps me focus my otherwise wandering mind that cannot seem to concentrate on just one thing. However, when I write, no matter what about, I can seem to focus for as long as it takes to get out what I want to say...

So here it goes... I am going to start this weeks blog with some funny (or not so funny) news from around the globe this past week or so.

From a trailer park in NESS CITY KANSAS - - "Woman sits on boyfriends toilet for two years!"
Yes you heard it correctly... The lady was apparently mentally ill and was afraid to come out of the bathroom. When her boyfriend finally called for help, nearly two years after she went into the bathroom and never came out, the emergency crew found her literally STUCK to the toilet. Her body had grown around it. Not only that but an infection that had broken out in her legs has damaged her nerves so badly that she will likely spend the rest of her life in a wheelchair...

Port St L:ucie Florida - - "Wife tried to drive over man 20 times"
While I don’t yet have all the details on this one, the dispute apparently started over an argument about $300. The wife, with her infant buckled in the back seat, drove her mini-van after the husband and chased him around the back yard trying to run him over approximately 20 times. He eventually threw a brick at the windshield to get her to stop. Now I am no marriage counselor, but this couple is SCREWED!!!!! You know the cost of a home appraisal costs about $300! Maybe they were trying to refi!!!! All I can say is I feel very bad for the poor child who will have to grow up with one of those two "adults", and I use that term loosely!
From Chicago Illinois - - "Illinois-shaped cornflake sells on Ebay for $1350"

HOLY CRAP is all I can say to this one. First of all, who the hell even looks at corn flakes to see if they look like something? Second, who the hell would buy it? I am running out to the local grocery store right now to buy evey box of corn flakes on the shelves and anything that remotely looks like anything will be on EBAY this afternoon.
New York, New York - - "Customer files suit over strippers shoe"
Why can’t I be that lucky? A securities trader was allegedly struck in the eye by the heel of a strippers shoe while receiving a lap dance at the Hot Lap Dance club near Madison Square Garden.
I guess the stock market is bad for EVERYONE these days if the people who work most closely with it are suing strippers for damages from a lap dance. Silly me, but most folks I know would call it a battle scar! Maybe I should start sleeping with prostitutes and try to sue one when I catch a VD!
And last but not least...

Lambertville, Michigan - - "Teen tried to steal cruiser’s gas".
Unmarked police cars were stationed around a construction area that had been the site of two arsons in the previous week. Police watched a 17 yr old man walk from his home carrying a bucket, and he walked up to an unmarked police car. The teenager began siphoning gas from the police car when the officer got out of the car and arrested the juvenile. Apparently the moral of this story is, if you are going to set things on fire, make sure there is no one in the car you steal the gas from.

All of the above stories can be verified at the website at the bottom of my blog. There were other good news stories you can read from this page that just didn’t make my short list this week.
And now onto the financial part of this weeks blog... most of you will likely now stop reading. But for anyone who is left....

This week the National Association of Realtors announced that home sales in February rose from the previous month stopping a 7 month continuous decline. So what does this mean? Well they are two sides to every story, so I will leave it up to you to decide which one to believe.

The positive side of the story is this... Any good real estate news is good news for those of you currently trying to sell your home. The media controls the buyers in this country more so than anyone, or anything else. Last week there was a report that we were near the "bottom" of the real eastate plunge and homes would start to sell. This was released as a prelude to the expected announcement of the NAR’s announcement this week. There are homes starting to sell, and rates are condusive to allow people to afford some homes again. So if you are currently in the selling market, there could be some good fortunes for you coming soon. Overall, any increase in home sales is good news as it will spur the housing market somewhat.

Now on to the bad side of the story. Although home sales were up 3% from last month stopping a half year long skid, home sales are still down nearly 30% from February last year. No information was released from the NAR stating what percentage of the home sales were bank owned foreclosures or borrower owned short-sales (meaning the bank allows you to sell the home for less than what is owed on it to avoid foreclosure), but many analysts have voiced their oppinions that those sales account for nearly half of the sales in February. Many people think we still are two to three years from the bottom and that home prices will have to fall as much as 30% more for the market to rebound.

I look at it like this. Both sides are right to some degree. The NAR is trying to drive any good news it can into the market by spinning a 30% decline from Feb last year into a posotive by trying to find the good side of things. The more good news they can get out, the better off the market is, and let’s be honest, any increase in home sales is good news! Homes will sell, and not just to investors, and sellers will be able to sell. Everybody wins in this case and I don’t see the bad side of that.

The naysayers believe we haven’t yet hit bottom and home prices will continue to fall. They are correct also, but I do not believe home prices will have to come down another 30% for that to happen. If home prices fall another 30%, that means millions of current homeowners will have to walk away from their homes and give them back to banks in voluntary foreclosures. The majority of homes in the market place do not have enough equity in their homes to account for a 30% decline. They will be stuck in their homes forever or just have to give them up. The bottom line is, the government will not stand by and allow this to continue forever. They will keep cutting rates, and keep pumping money into the banks, allowing people to finance more, for less. While we may not see double digit value increases again anytime in the next 5 - 8 years, I do not believe we will continue to see double digit decreases nationwide.

Specific areas which just got too expensive, too fast, may continue to see a decline, but the nation as a whole is poised for a rebound.

It will not be immediate. It will take time. By early 2009 I am predicting the housing market will begin its return to normalcy, meaning a stable supply and demand of homes, allowing for normal appreciation, parallel to inflation.

It will take another 9 - 12 months to get rid of some of the excess supply on the market (mostly related to the ever increasing abundance of foreclosures), but once that is done, we will be back to the days of old. Days where people don’t buy too much home for their pockets to keep up (I have made this same mistake myself so this is in no way a slight to anyone who is struggling to survive right now) and they won’t have to because home prices won’t far exceed the level of incomes as they do today.

So take this weeks news as good or bad, depending on what side of the bed you woke up on this week, but in my business, any news of better days is uplifting to me.
To those of you looking to buy right now, you can still find good deals. Sellers are starting to lower prices, because they have to, and in turn, buyers are starting to buy more. The supply will dwindle down, and once it does, home prices will stop falling, homes will continue to sell, and prices will remain stable until the next big BOOM.

The values of Real Estate and gold have always appreciated, and have always made it through very rough and troublesome times. There will always be peaks and valleys in the graph that is home appreciation, but there have ALWAYS been more peaks then valleys.

We are in a valley right now, but I do believe the bottom is not far off and we will start another ascent to the top. Anyone looking to buy... now really is a good time. There are more than enough homes on the market, and more than enough sellers willing to drop prices. It may take a few offers to find the right one, but it’s out there. Just go find it!

Here is the link to my news stories from above...
http://www.msnbc.msn.com/id/4429957/

Everyone have a great day and I hope this week is uplifting and positive for everyone.

James