Obamanomics New Home Sales … The Worst Year for Sales on Records Dating Back to 1963.

More failed Obama economic recovery … Barack Obama’s third year in office and his “Obamanomic” policies have done little to nothing to help new home sales. In fact, the numbers for 2011 were dismal. New home sales for 2011 are the worst on record dating back to 1963. Thanks President Obama. How can America afford to reelect this President in 2012?

The Commerce Department says new-home sales rose 1.6 percent last month to a seasonally adjusted annual rate of 315,000. That’s less than half the 700,000 new homes that economists say should be sold to sustain a healthy housing market.

It’s also below the 323,000 homes sold last year – the worst year for sales on records dating back to 1963. December would have to produce its best monthly sales total in four years for 2011 to finish ahead of last year’s total.

New homes account for less than 10 percent of the housing market. But they have a big impact on the economy. Each new home built creates roughly three jobs for a year and generates about $90,000 in taxes, according to the National Association of Home Builders.

Home Owners Foreclose on Bank of America … Turn About is Fair Play

Home owners foreclose on Bank …

After all of the banks that have incorrectly foreclosed on unsuspecting homeowners, its nice to see that the roles were reversed in a major way for once. According to WFMY News, the problems started five months ago when Bank of America filed foreclosure papers on the home of a couple, who didn’t owe a dime on their home. The home owners paid cash for their house, but BOA wanted to here nothing of it.

The case went to court and the homeowners were able to prove they didn’t owe Bank of America anything on the house. In fact, it was proven that the couple never even had a mortgage bill to pay.

A Collier County Judge agreed and after the hearing, Bank of America was ordered, by the court to pay the legal fees of the homeowners’, Maurenn Nyergers and her husband.

The Judge said the bank wrongfully tried to foreclose on the Nyergers’ house.

So what did Bank of America do when asked to pay legal fees by the courts? Ignore the order of course. Five  months went by and no sign of  the$2,534  legal fee payment for the error. payment nor was BOA returning calls. The Nyergers’ attorney then did what has to be one of the best things I have ever seen to get his clients rightful fees … attorney Todd Allan foreclosed on the bank and seized their assets.

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Has Sarah Palin Bought a House in Scottsdale Arizona … Political Run?

Did she or didn’t she?

Rumor has it that Sarah Palin has bought a home in Scottsdale, Arizona. If so, it would certainly make a run for the 2012 Presidential election easier in the lower 48 than from Alaska. But speculation is abound as the property was purchased by an LLC. So, is this a run for the 2012 White House or for retiring Republican Jon Kyl’s US Senate seat?

ABC15 also reporting of the suspected real estate purchase, or rumors thereof.

Saturday outside a North Scottsdale home speculated to be the new property belonging to Sarah Palin, a black SUV with an Alaska license plate pulled up and asked our ABC15 crew to leave the area immediately.

The driver wouldn’t comment on whether Palin plans to move in so she can set up shop for a possible 2012 presidential run. But plenty of others are commenting.

“It’s the best place you could buy a second home in the entire United States,” said realtor Jeff Sibbach, who sells high end homes for John Hall & Associates. “It’s all speculation right now.”

That’s because nothing in the MLS says Sarah Palin.

I have to tend to agree with PJ Media, The Tatler, Palin bout a home right in the middle of one of the biggest issues that exists in politics today, illegal immigration. Far be it from Palin not to take on such an issue that Obama has failed so miserably on and is in direct contrast with “We the People”.

One thing is for certain, Saracuda has them buzzing again as to what her future plans are. BTW, before the LEFT starts making remarks of “carpet-bagging” if she goes after the retiring Senate seat of Jon Kyle, we just have two words … Hillary Clinton. As for the references to house/palace, how soon they forget the home many homes of Democrat Al Gore and the little shack of former NC Senator John Edwards. However, its safe to say in this real estate purchase if done by Sarah Palin, Tony Rezko was not involved.

The Obama Economy: Home Values Fall 3% in the First Quarter, 28% of Home Owners Underwater

WAG THE BIN LADEN …

Is it any wonder why President Barack Obama continues to spike the football and take credit for the killing of Osama Bin Laden? It was an important mark in the war on terror; however, just like Obama’s minions stated that it took a mosaic of intel to get Bin Laden, the issues that face Americas is also a mosaic of bad economic news.  AMERICA WAKE UP, DO NOT BE DISTRACTED!!! While Obama takes credit for the death of Bin Laden, the US economy is falling apart. So much for the home market recovering, home values fell 3% in the first quarter.

Home values fell 3% in the first quarter from the previous quarter and 1.1% in March from the previous month, pushed down by an abundance of foreclosed homes on the market, according to data to be released Monday by real-estate website Zillow.com. Prices have now fallen for 57 consecutive months, according to Zillow.

The governments continued meddling with the housing market has caused the housing markets to flounder. As stated by the NRO, “programs, like Cash for Clunkers, do little more than rearrange the deck chairs on a sinking ship. They advance home sales but don’t create new demand, so the effects are economically unsustainable.”  Thanks Barack, 28% of home owners are now underwater. Elevated gas prices, increased food prices, an unemployment rate up to 9.0%, an anemic 1.8% GDP in the first quarter and now home prices fall. Obama’s handling of the US economy has been pathetic at best.

Ten days ago, the Commerce Department released the latest evaluation of American economic growth, which came in at a paltry 1.8%, a steep drop from the unspectacular 3.1% in the fourth quarter of last year. By the time the weekend ended, that news got understandably swamped out by the successful military operation that killed Osama bin Laden.  But even from Rome, I was surprised by the lack of attention that it drew before Sunday night, especially since the media showered the White House with favorable coverage of the previous quarter’s results.

Unemployment Applications Rise by 13,000 as Jobless Benefits Increase to 462K

Hey America, how’s that Obama “hopey, changey” stuff working out for you?

Welcome to the President Barack Hussein Obama job recovery of 2010. First time claims for unemployment aid rose by 13,000 to a seasonally adjusted 462,000. But wait, the Obama economy gets even worse … September home foreclosures top 100,000 for first time. According to RealtyTrac, banks foreclosed on 102,134 properties in September, the first single month above the century mark. I supposed this is George W. Bush’s fault?

Will this also by an Obama “Oops” as he did not realize that his disastrous economic policies of wasted stimulus money and no “shovel ready” jobs would cause sustained unemployment, further job loss and people to lose their homes?

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10 Worst Places to Live in America … Cleveland, Detroit, Las Vegas & Miami Among Many

The 10 worst places to live in America as per WalletPop using a variety of criteria, including unemployment rates, health data, the number of foreclosures, crime statistics, climate and other measures of misery. High on the list and a common thread in many of these places is political corruption.

1. El Centro, California – Population: 41,241

Welcome to the home of the highest unemployment in the United States at 27.5%. OUCH!

One in four people here are out of work and the city holds the not-so distinguished honor of having the highest unemployment rate — 27.5%.

The desert city, which is located in Imperial County just across the border from Mexicali, has a jobless rate triple the national average of 9.5% thanks to the seasonal fluctuations of field laborers.

2. Cleveland, Ohio – Population: 431,363

Cleveland heads the Forbes list of “most miserable” US cities. What would Howard the Duck & Cherry Bomb say?

LeBron James isn’t the only person leaving Cleveland. The U.S. Census estimated that 2,658 people left the city in 2009, the largest numerical drop among America’s major cities.

Forbes also put Cleveland atop its list of most miserable U.S. cities, factoring in its high unemployment (although at 9.1% it’s below the national average), high taxes, lousy weather, political corruption and lousy sports teams — and that was before LeBron decided to leave.
Nicknamed the “Mistake by the Lake,” Cleveland ranked near the bottom when looking at corruption on the Forbes list. “Northern Ohio has seen 309 public officials convicted of crimes over the past 10 years,” according to the Forbes story, which cites data from the Justice Department. “A current FBI investigation of public officials in Cuyahoga County (where Cleveland is located) has ensnared more than two dozen government employees and businessmen on charges including bribery, fraud and tax evasion.”

Cleveland also ranks in the top third of all metro areas for foreclosure rates. The city has thousands of abandoned homes, in part because it provided down payments through the federally-funded Afford-a-Home program to many people who could not afford their mortgage payments.

3. Detroit, Michigan – Population: 871,121

Conveniently enough, Detroit is #4 with a bullet on Forbes “most miserable” city’s list.

Detroit is America’s most dangerous city, with 1,220 violent crimes per 100,000 people, according to violent crime statistics from the FBI’s latest uniform crime report, issued in 2008. It’s heavy reliance on the stumbling auto industry hasn’t helped matters much. Motown also boasts high foreclosure and unemployment rates

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Real Estate: Top Underwater Mortgage Cities

According to reports, 20% of U.S. homeowners owing more on a mortgage than their homes are worth. The number of “underwater” borrowers is bad for them, but an opportunity for other first time home owners who were previously shut out of the process.

Real-estate Web site Zillow.com said that overall, the number of borrowers who are underwater climbed to 20.4 million at the end of the first quarter from 16.3 million at the end of the fourth quarter. The latest figure represents 21.9% of all homeowners, according to Zillow, up from 17.6% in the fourth quarter and 14.3% in the third quarter.

“What’s going on here is that you don’t have any markets that have turned around and you have new markets, like Dallas, that have joined the ranks” of communities where home prices have fallen, said Stan Humphries, a Zillow.com vice president.

What is interesting is the percentage of the top 10 “underwater” cities in the United States. As the Obama Administration looks to stabilize the housing market with tax dollars, why is it that the large percentage of underwater borrowers all seem to be in the same states? California, Florida and Nevada seem to be the worst hit.

Question One: Is the percentage of underwater borrowers inflated by some 4 or 5 states that have been hit worse than others where housing prices prior to the down turn in the economy were highly inflated? Not to make light of the situation, but does this mean that the government is going to help with car payments as well? The minute you drive off the lot in a new car the value of the car drops below what you just paid for it. Are bailouts next for car loans?

Question Two: Your home is an investment like a stock. Why would one stop paying their mortgage just because, at the present, the mortgage may be more the the worth of the home? Does that mean when home prices eventually come back in a cyclical manner that these same people who got tax payer bailouts through government incentive mortgage plans are going to pay back the difference?

The Man From Hope Tells the Candidate of Hope to How Some Hope … Bill Clinton’s Advice to Obama

Dude … Where’s the Hope?

Well that did not take long into the Barack Obama Presidency for former President Bill Clinton to start five newby Obama some pointers on how to be President. Clinton tells ABC News that Obama gets and “A” and then uses the proverbial “BUT”. Gee Bill, you might have just used the phrase, “in all due respect”.

Actually what Clinton might have basically said was  … Dude, ya won the election by down talking the economy and some how every thing collapsed just at the opportune time you ran for President. However, you are now the President and your job is to make Americans confident, not want them to slit their wrists. That’s what Clinton really meant to say.

The irony in the “Man from Hope” telling the “Candidate of Hope” that he must act now as a President act more hopeful in talking to the American public during these economy times is stuff that SNL skits are made of.

Regarding Obama’s bleak warnings that “the economy could get worse before it gets better,” and that the economic stimulus program is only the beginning of the end of the economic crisis, Clinton said, “I like the fact that he didn’t come in and give us a bunch of happy talk. I’m glad he shot straight with us.”

But he added, “I just want the American people to know that he’s confident that we are gonna get out of this and he feels good about the long run.”

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Dog Day Real Estate Market: Michael Vick Dogfighting House on the Auction Block … Fails to Sell Again

The Michael Vick dog fighting house is back on the market and will be auctioned off again this Friday at 4:00 pm. Maybe this time the realty group will accept the offer for the 5 bedroom Surry County home instead of being greedy and taking a proverbial bath as the real estate market in the US has gone to the dogs.

Motley’s Auction and Realty Group is handling the sale of the five-bedroom house in Surry County. The company’s Web site says the bidding Friday will start at $590,000.

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What Has Happened to America … “Are You an Idiot to Keep Paying Your Mortgage?”

America was built on the hard work, perseverance and responsibilty of generations and generations of people. Individuals faced tough times and the road bumps of life and over came life’s issues, trials and tribulations because they were responsible and wanted to succeed. There use to be a time when taking the easy way and especially fradulent way out was looked down upon.

Today, can that still be said to be true. In the, as News Busters calls it the “You have got to be Kidding Me” moment and as we just like to say WTF … the San Francisco Chronicle actly had an artice advocating for people to stop making payments on their mortgage so that they would qualify for the government bail out package. Some how if one buts too much house and one they cannot afford they are supposed to be bailed out and put and even heavier burden on tax payers and responsible home owners who pay their mortgage. Unreal.

From the San Francisco Chronicle: ‘Are you an idiot to keep paying your mortgage’?

Should you keep paying your mortgage?

If you have significant equity in your home, absolutely.

If you don’t, it’s getting harder to answer that question, especially when our government keeps giving people who owe more than their homes are worth so many reasons not to pay.

Last week, the government announced a program that will substantially lower payments for many homeowners who have little or no equity, but only if they are at least 90 days delinquent.

Here is how one qualifies for this program that will be abused just like ever other government hand out or entitlement. Go to NewsBusters and read more on the ridiculousness of the plan and the program that is destine for abuse.

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