Banks…It’s Time to Get Real

By Michael Blassis, Publisher, Dream Homes Magazines

Talk about usury!

  • Many banks pay you 1.4% interest on your savings but charge you 8.5% on your home equity line…and more than 20% on your credit cards!
  • You haven’t missed a payment in 20 years and the bank suddenly yanks or reduces your credit line.
  • You can’t qualify for a home loan unless you have sterling credit, lots of cash in reserve, and at least a 20% down payment. This country was founded on credit and has flourished on easy credit for decades. Just because some mortgage lenders went way too far in recent years on easy credit — such as loaning 110% of a home’s value — we should not ruin the best business model there ever was for prosperity…invented right here in the USA.

    • Consumers, wake up! Perhaps it’s time to come up with a new mortgage institution that is more efficient…that pays 4% on your savings and will give you a loan at 6%. To read our article “Banks to Borrowers: ‘Go Away!’” click here.

    Then return to the blog and post your own bank stories.

    Posted in Buying and Selling a Home, Mortgage Info, Political & Real Estate News | 3 Comments »

    Get Real!

    “Get Real: The Voice of Reason and Optimism in Today’s Real Estate Marketplace” is a new monthly DREAM HOMES feature designed to educate readers about real estate and financing options, to entertain with news on the lighter side, and to counteract “the sky is falling” panic of the mainstream media. Unless otherwise noted, all articles are compiled by DREAM HOMES staffers.

    If you haven’t already read the print version of June’s “Get Real,” click here.

    This month, we covered:

    • The real estate holdings of the three top contenders for U.S. president (including Hillary Clinton, who has since withdrawn from the race);
    • Celebrities who are buying or selling real estate in Southern California (in the future, we’ll cover other areas, as well);
    • How housing inventory is slowly but surely shrinking in San Diego and how sales are up all over Southern California;
    • Why now is a great time for a 1031 Exchange.

    We’d like to hear what you think of this new DREAM HOMES department. Also, please feel free to post any comments or questions you might have about any of the stories. Thanks for visiting. 

    Posted in Political & Real Estate News | 5 Comments »

    Doom and Gloom - All the way to the Bank

    April 09, 2008

    Wow. The April issue of DREAM HOMES SAN DIEGO was barely off the press today when we started hearing the buzz from San Diego County real estate circles about this article that is in the issue:

    Doom and Gloom

    The article makes these key points:

    • All real estate is local…and not just by city but by neighborhood.
    • Buying real estate in an upscale community is still your best investment.

    But please read the entire article. It’s short but chockfull of interesting quotes and statistics and our opinions, some of which you may find controversial. Then post your comments about the piece in this blog. We are also interested in hearing stories about your personal real estate experiences in this market no matter what you do for a living. Thanks.

    Posted in Political & Real Estate News | 11 Comments »