Meredith Whitney the most reliable of the banking analysts told the New York Post today that Citigroup is in big trouble and their CEO Vikram Pandit is wrong in thinking he can survive in its current form. "Pandit is wrong, Citi will not be able to stay in its current form," she said, adding that the banking giant must break itself up and sell off the pieces to raise capital and reduce its size....."Citigroup is in such a mess Stephen Hawking couldn't turn this company around," the money maven added. "It has lost the most money of all the banks, and has the greatest leverage."...."Citi is wrong if they say they are adequately capitalized. No bank is adequately capitalized today and Citi is no exception," she said...." This will get ugly quick and it looks like the government will get in... 11/23/2008

Meredith Whitney the most reliable of the banking analysts told the New York Post today that Citigroup is in big trouble and their CEO Vikram Pandit is wrong in thinking he can survive in its current form. "Pandit is wrong, Citi will not be able to stay in its current form," she said, adding that the banking giant must break itself up and sell off the pieces to raise capital and reduce its size....."Citigroup is in such a mess Stephen Hawking couldn't turn this company around," the money maven added. "It has lost the most money of all the banks, and has the greatest leverage."...."Citi is wrong if they say they are adequately capitalized. No bank is adequately capitalized today and Citi is no exception," she said...." This will get ugly quick and it looks like the government will get in... 11/23/2008

It will be difficult for the U.S. Government to allow another day of market turmoil for this financial behemoth. Paulson and Bernanke are, no doubt, trying to broker a private deal for them, but it wouldn't surprise me to see some sort of bridge loan or backstop similar to AIG or Fannie/Freddie. Look for this to occur before the Russian/Asian market open tonight, EST. This will be another interesting week... 11/23/2008

It will be difficult for the U.S. Government to allow another day of market turmoil for this financial behemoth. Paulson and Bernanke are, no doubt, trying to broker a private deal for them, but it wouldn't surprise me to see some sort of bridge loan or backstop similar to AIG or Fannie/Freddie. Look for this to occur before the Russian/Asian market open tonight, EST. This will be another interesting week... 11/23/2008

It will be difficult for the U.S. Government to allow another day of market turmoil for this financial behemoth. Paulson and Bernanke are, no doubt, trying to broker a private deal for them, but it wouldn't surprise me to see some sort of bridge loan or backstop similar to AIG or Fannie/Freddie. Look for this to occur before the Russian/Asian market open tonight, EST. This will be another interesting week... 11/23/2008

It will be difficult for the U.S. Government to allow another day of market turmoil for this financial behemoth. Paulson and Bernanke are, no doubt, trying to broker a private deal for them, but it wouldn't surprise me to see some sort of bridge loan or backstop similar to AIG or Fannie/Freddie. Look for this to occur before the Russian/Asian market open tonight, EST. This will be another interesting week... 11/23/2008

www.CliftonHenderson.com Its exciting time, Yes thing are bad in the economy, But.... Its like the saying" If you have lemons, make lemonade". I have seen more people in this business pull together in the last few months, to try to  "Make It Happen" Mortgage companies, Title companies and Realtor sharing their expertise to assist each other. After all almost all Real Estate transaction takes a Realtor with a Mortgage co that all ends up at the Title co. With foreclosures and distress properties on the rise with no sign of slowing down, I have seen the investor community really pull together. With the start of www.PortCityReia.coma investment type club in Mobile Alabama open to all interested in the Real Estate Investment field. The investment process usually greatly improves the quality... 11/20/2008

Why join a REIA? I could create a long drawn out blog post why joining a REIA is a good idea that you probably would not read.........instead I will let someone else tell you http://tinyurl.com/5s2rc9 Enjoy, Lawrence Roberts - Port City Real Estate Investors Assoc. 11/13/2008

This is a blog post from my buddy Ned Carey in Baltimore, MD @ www.baltimorerealestateinvestingblog.com about how you make money in real estate. Enjoy! How do I Make Money in Real Estate? I recommend if you are serious about real estate you should go to your local Real Estate Investor Association (REIA). It is a great place to network and meet successful investors. You only have to go to a handful of meetings however, before you are pulled in six different directions, because each month the speaker has a great new way to make money in real estate. There are a thousand ways to make money in real estate! Not really, but it can sure seem that way sometime. It can be confusing, especially if you are brand new to hear all the different methods and techniques. It is hard to focus when you are... 11/12/2008

First-time home buyers -the government enacted a benefit to help you make your first home purchase? The incentive gives first time home buyers a federal income tax credit up to $7,500. Part of the "Housing and Economic Recovery Act of 2008″, creates a temporary, federal tax credit to provide incentive for first-time home buyers to purchase a home.   Rob Dietz, economist for the National Association of Home Builders (NAHB) points out, the effects of the credit may extend far beyond the first-time home buyer; as first-time home buyers purchase homes, many home sellers will be able to move up and invest their sales profits into new homes as well. Since the money must eventually be paid back, the tax credit essentially acts as a no-interest loan that reduces your tax liability for the year... 10/29/2008

No one likes to hear about people losing their homes, but industry analysts predict that real estate markets across the country will see home foreclosures through 2008 and into 2009.   When banks foreclose, the properties will go back on the market, and buyers ready to purchase new homes will be able to find some good deals out there. Mortgage and Renovation Costs Bundled into One Loan Package So what happens if you find a home in the perfect location that meets your family's basic needs but requires major improvements or repairs?  The answer for that fixer-upper may lie in a renovation mortgage - a lender program that allows home buyers to finance the mortgage and fix-up or construction costs together in the same loan.  How do renovation mortgages work?  There are several options avail... 10/22/2008

Yes its true to say they are desperate to kick start the economy. With the 700 billion dollar bail out passed and in the works. Now the Fed Chairman kicking around with Bush  and wanting to see another stimulus package of hand out checks to citizens. The talk of buying up Corporate paper to loosen up and release the credit market for Banks. All this seems to be going for naught right now. Tweaking here and there trying to see what will work. With the only positive effect being the slow down in the economy having a positive effect for the consumer in the lowering of the price of oil that has cascaded down to lowering of gas prices at the pump. Lower gas prices will in no means boost the sluggish economy. With retailers gearing up early for the holiday season with lower prices and sales t... 10/21/2008

It had been a few days without a day new Fed funding facility ... From the Fed: Federal Reserve announces the creation of the Money Market Investor Funding Facility (MMIFF) The Federal Reserve Board on Tuesday announced the creation of the Money Market Investor Funding Facility (MMIFF), which will support a private-sector initiative designed to provide liquidity to U.S. money market investors.   From the Fed... Press Release Release Date: October 21, 2008 For release at 9:00 a.m. EDT   The Federal Reserve Board on Tuesday announced the creation of the Money Market Investor Funding Facility (MMIFF), which will support a private-sector initiative designed to provide liquidity to U.S. money market investors. Under the MMIFF, authorized by the Board under Section 13(3) of the Federal Reserv... 10/21/2008

With the country being entrenched in a economic down turn. Volatile stock market and credit bound up. The Real Estate market in Mobile has held its own. Granted there was a bit of a slow down in the market but it was not impacted like the rest of the country. The city of Mobile has plenty of amenities with new industry moving in and innovative leadership that has forward thinking vision of placing Mobile in the position to be a world class city. Planning controlled growth and expansion with deliberate control on how a what the city and surrounding areas in the County will progress. This steady growth in the Real Estate market in the area is visible with property values holding steady a bit lower but still up. You can buy much more house for your money in the City of Mobile than anywher... 10/21/2008

Since this credit crisis, I have thought what we need is more education regarding financial matters. We, at the Manders Group, have decided that we would like to help high school kids in our area, state and region become more financially educated. We are donating a $200 scholarship to the "Secure Student" for any parent with a high school child that would like to enroll in this program. I have become very active in the Financial Education community and feel that this is a way to give back. Read about the program below and e-mail me(e-mail address on the right side of this page) so I can give you the code for the $200 discount... Here is a recent blog at the "Frugal Dad..." The following guest post is from Mike Young, Founder and CEO of The S.E.C.U.R.E. TM student program.  You can learn... 10/20/2008

The  phrase "Buyer Beware" is appropriate when considering the purchase of a fixer-upper.You need to know exactly what you're getting into before buying.  It's commonly believed that fixer-upper properties represent easy money that is ripe for the taking - that you can buy it, do a little work on it in your spare time, and then resell quickly for a large profit.  With proper planning and foresight, good profits can be made by buying "distressed" properties at less than market value, making appropriate improvements and repairs, and then reselling.  And for many first time buyers who intend to live in the house while working on it, buying a fixer-upper can be a good option.  It's less risky buying a fixer-upper when you can live in the house while fixing it.  If this is your option look i... 10/20/2008

Quiet Neighborhood/ Convenient Location/ Great Rental Investment! This beautifully remodeled 4 Bedroom, 1 Bath Home sits on a 1 acre, partially fenced lot at the end of a cul-de-sac. This home has an updated kitchen and gorgeous new hardwood floors, tile and carpet. There is also a new A/C unit and heat pump. A new 12x25 wood deck in the back and a large storage building. You MUST SEE this home! $85,097 1431 ORCHARD DR W MOBILE, AL 36618 10/18/2008

Cumlative Sales 2008 Sales Mobile Alabama 2008 Month Year Monthly Sales Avg ListPrice Avg Sale Price % Diff Sell/list Avg DOM Current Inventory Months Inventory January 2008 147 $133,264 $129,937 97.50% 73.0 1404 9.55 February 2008 179 $160,481 $156,353 97.43% 79.0 1454 8.12 March 2008 195 $154,621 $151,090 97.72% 79.0 1495 7.67 April 2008 196 $169,890 $165,614 97.48% 77.0 1500 7.65 May 2008 264 $169,225 $163,358 96.53% 88.0 1525 5.78 June 2008 221 $184,615 $181,564 98.35% 92.0 1573 7.12 July 2008 206 $165,212 $161,520 97.77% 74.0 1567 7.61 August 2008 180 $156,306 $152,080 97.30% 73.0 1581 8.78 September 2008 169 $161,381 $158,114 97.98% 85.0 1591 9.41   Total 2008 1757 $161,666 $157,737 97.57% 80.0 1,521 7.97   Total 2008-2008 1757 $161,666 $157,737 97.57% 80.0 1,521 8.00 10/17/2008

When the U.S. government first took conservatorship of Fannie and Freddie, rates started to plummet as bond purchasors decided that with the "implicit" guarantee for mortgage backed securities they would receive  a better yield than comparable treasuries. This was true and investors flocked into MBS's, driving rates on a 30-year fixed to below 5.375 for a few days, but this trend has reversed and here is why...  From the Financial Times: US mortgage rates have soared this week in an unexpected reaction to the latest Treasury financial rescue plan, which has prompted investors to buy bank debt and sell bonds backed by home loans.Interest rates on 30-year fixed-rate mortgages, as measured by Bankrate.com, rose to 6.38 per cent on Thursday from 5.87 per cent last week - before the Treasury... 10/17/2008

Every housing market is unique. The National Association of Realtors has created Local Market Reports (LMRs) for 153 of the largest metropolitan areas of the country.  The Local Market Reports reflect data available through September 2008 and provide insights into the fundamentals and direction of the nation's largest metropolitan housing and real estate markets. Each downloadable report evaluates a number of factors affecting home prices, including: The health of the local job market Foreclosure rates Housing inventory Debt-to-income and mortgage-servicing-costs-to-income ratios We have downloaded the report for Mobile and will be happy to send you a copy.  If interested, please send us an e-mail and request free Mobile AL Metro Market Report. 10/15/2008