PASTOR TOM

Economic Ramifications of Skyrocketing Long-Term Unemployment

POVERTY?????????

I HAVEN'T HEARD THIS MENTIONED LATELY IN THE NEWS OR THE COMMENTS!!!!!!!!!!

ONE OF MY TENANTS TODAY SAID HE WAS GOING TO SOMEHOW TURN HIS FOOD STAMP ALLOTMENT INTO CASH TO PAY THE RENT! "NOT NECESSARY. LIVE RENT FREE."

THIS IS POVERTY. THIS IS THE BEGGER AT THE CHURCH STEPS WITH AN EMPTY CUP.

CHECK OUT MIAMI'S CENTRAL BAPTIST CHURCH FOR THESE HOMELESS BEGGERS EVERYDAY. YES, CARS ALL DAY LONG ARE STOPPING WITH FOOD AND CLOTHING DONATIONS FOR THEM., BUT WHERE ARE THEY AT NIGHT? SLEEPING IN THE CHURCH'S DOORWAYS, RAIN OR SHINE.

POVERTY? YES! NOT ONLY IN MIAMI, BUT FROM "SEA TO SHINNING SEA."

MORAL ETHICS SAYS HELP THESE FOLKS BECAUSE THEY ARE AS WE MAY BECOME. PLEASE, THOSE FOLKS THAT HAVE, HELP THOSE FOLKS THAT HAVE NOT. THAT IS THE FOUNDATION OF OUR COUNTRY. WE DON'T WANT CIVIL WAR, OR FORSAKING RESPECT FOR OUR GOVERNMENT, OR IT'S PEOPLE, OR OUR FINE POLICE FORCE.

"LOVE YOUR NEIGHBOR AS YOU LOVE YOURSELF."

WE CAN ALL GET THRU THIS RECESSION/DEPRESSION BECAUSE WE DID BEFORE. "PATIENCE", AND "MY GRACE IS ENOUGH" SHOULD BE OUR ATTITUDES.

THANK YOU. PASTOR TOM.

The Sad Truth About Housing Data

ON ONE OF OUR PROPERTIES IN FORT LAUDERDALE, FLORIDA BANK OF AMERICA HAD SCHEDULED A SHERIFF SALE FOR YESTERDAY, JUNE 2, AND MY ATTORNEY ADVISED ME TODAY THAT THE BANK SENT A FAX TO CANCEL THE SHERIFF SALE.

THIS HAS HAPPENED IN TWO OTHER PROPERTY FORECLOSURES OF OURS.

YES, THE BANKS HAVE A LARGE INVENTORY OF POTENTIAL FORECLOSURES, BUT THEY ARE RELUCTANT TO ACTUALLY FORECLOSE AND TAKE POSSESSION.

Housing: Playing Games with Appraisals and Value

IT TOOK ME OVER 60 DAYS AND $1,000 TO REMOVE A SQUATTER, AND THEN MY CREW HAD TO GO IN AND ..... YOU KNOW WHAT TO GET THE PROPERTY LIVABLE.

Dollar Chart Tells a Much Different Story than Pundits Do

KING DAVID HAD GOLD.

KING SOLOMON HAD GOLD.

WHY NOT US POOR FOLKS, TOO.

Currency watchers warn the dollar could be in for a major nosedive.

ME TOO.


On May 21 02:00 PM Carlos Lam wrote:

> Since usually USD down = gasoline up, I think it's time I rush to
> the gas station & fill up...

California's Economy: Disaster Developing

FOR MANY YEARS I HAD HEARD THE EXPRESSION, "WHAT HAPPENS IN CALIFORNIA WILL HAPPEN IN FLORIDA IN TWO YEARS."

WELL, I AM IN FLORIDA AND HOPE IT DOESN'T HAPPEN HERE, BUT I AM WATCHING WITH HESITATION THE CALIFORNIA ECONOMIC SITUATION.

ALL WE CAN DO HERE IN FLORIDA IS LOOK AT OUR MONEY AND READ, "IN GOD WE TRUST."

Case Shiller: Home Prices 'Less Bad'

IN REVIEWING THE C/S HOME PRICE INDEX CHART, NOTICE THAT IN 2007 THE SPREAD WAS FROM $120K TO $280K. NOW NOTICE THAT THE SPREAD IS FROM $75K TO $180K.

NOTICE ALSO THAT THERE IS A BUNCHING NOW FROM $95K TO $180K.

WHAT DO YOU GET FROM THIS??????????

HOW ABOUT THAT THE HIGHER PRICED AREAS HAVE FALLEN MORE THAN THE LOWER, AND THAT FOR INVESTMENT PROPERTIES, MAYBE THE LOWER PRICED AREAS ARE BETTER. BUT IF YOU ARE A SPECULATOR, THEN THE HIGHER PRICED AREAS WILL GO UP MORE FOR WHEN YOU FLIP (RESELL) THE PROPERTY.

AS FOR MY INVESTMENTS, I AM IN A WAIT AND SEE PHASE HERE IN SOUTH FLORIDA, WHERE I GUESS SPECULATORS WILL DO BETER THAN INVESTORS.

MAY THE LORD BLESS YOU AND YOUR INVESTMENTS.

PASTOR TOM.

Mixed Housing Report

And what about the "Shadow Inventory" of REOs, and those owners who are waiting for some sign of increased sales prices to put their properties on the market?

Also, don't forget the upcoming foreclosures that RealTech is forcasting?

9 months inventory? 18 months inventory? or lets wait and see what happens. The LORD has it all planned.

More Cold Water for U.S. Housing Market

To Market Sniper:

Educated localized insite is enlightening.

Thank you.

Are there any accredited experienced commentators like you in South Florida? I would like some insite, especially Broward County, and Key Largo. The NAR seems to be too upbeat even against obvious data. I guess they just want to encourage their members.

RealtyTrac does give us some paramaters to make educated (or uneducated) decisions on. Thank you RealtyTrac.

So, when will the real estate market really turn around? 24 months, 48 months? And then how long will it take to recoup its losses? 3o years as you say Mr. Market Snier? By the way, why not put your picture on your comments?

The Shadow Inventory of Foreclosed Homes

Good morning landlords. I have 51 current rentals in Fort lauderdale and my tenant's previous rental history shows they are cash poor with medium to poor credit. We give them a chance, but soon end up evicting the majority of them. Unemployment, loss of hope in the future, and lackluster attitudes prevail. When will President Obama create the jobs I seem to have heard about? Wasn't it two to three million new jobs for the unemployed? Daily I pray for America's economy, see articles as above, and can't help but wonder about America's financial future timetable. It still seems that the turnaround won't be this year or maybe not even next year. Is September 2013 so out of range, being seven years from the financial downtrend? Should we buy more swords (guns), or stockpile our barns (pantrys) as Joseph did in Egypt? The LORD will take care of His children. Have a good Good Friday, and a happy Easter. Pastor Tom.

"Up to 700,000 people could exhaust their extended [unemployment] benefits by the second half of this year," writes the NY Post. Then what?

TO THE CYCLING SCHOLAR, I WILL JOIN YOU IN MY RV WITH SOLAR POWER.

Estimated Change in Home Prices

GOOD DAY FOLKS.

RECENTLY ONE OF MY CUSTOMERS SAID:

"NOBODY IS BUYING ANYTHING"

AND IT SEEMS THAT WAY IN MY SALES OF MY INVESTMENT PROPERTIES.

MAY THE LORD BLESS AMERICA, "IN GOD WE TRUST."

Today's larger than forecast drop in home prices will force people to retrench spending and cut back even more, fund manager Peter Lewis says. "People don't want to open their wallets unless they know their largest asset is adding value. It's a negative for retail, for financials and further for consumer confidence."

MY WALLET ALREADY HAS A PADLOCK ON.

Housing Gets Even Worse

Considering my real estate investments of 31 properties, when I decide to let the bank have the property due to being upside down now, the banks (mortgagees) on 29 of the 31 properties are just ignoring the situation. This is 93% of my properties not being pushed into foreclosure. How many other small investors have this same type of inventory of foreclosable properties that the bank's are ignoring, so they don't have to put them on their "Bad Loan" list, and increase their reserves. Countrywide is the most common ones. If my portfolio represents 93%, what about the rest of the investors? We have NOT seen anything like a "Bottom" and won't for some time. I am estimating September, 2013 for the time when real estate will again be "As We Knew It".

As for the "New Household Formations" don't most new households rent?

We have a ways to go in this upside down real estate market.

Comments?

If Only Hope Were an Investment Strategy

IS THERE ANY HOPE FOR US LITTLE GUYS THAT ARE HARD WORKING DAY AFTER DAY? (LIKE JOE THE PLUMBER).

WHAT IS THIS TALK OF WHEAT PASTA RATIONS?

QUESTION....DOES THE STOCK MARKET UPS AND DOWNS, DOWNS, DOWNS REALY MATTER TO US LITTLE GUYS? OUR LIFE WILL GO ON WITH ARBY'S, CHURCH, AND PUBLIX. SHOULD WE KEEP OUR CASH UNDER THE MATRESS? WE NEED ENCOURAGEMENT AND HOPE.