Greg Honeymichael

Did Foreclosures Change The Presidential Election?

admin — Thu, 10 Nov 2011 03:12:01 +0000

If you want to know how the 2008 presidential election was won you need to look no further than the nation’s biggest foreclosure centers.

Seven of the top 10 foreclosure states voted Republican in the 2000 and 2004 presidential elections, while three states went Democratic. This time around the Democrats captured eight of the top 10 foreclosure states.

The difference in terms of electoral votes is significant. In the 2000 and 2004 presidential elections today’s 10 leading foreclosure states produced 97 electoral votes for George Bush and 87 votes for Al Gore (2000) and John Kerry (2004) In 2008 the top-10 states generated 159 electoral votes for Obama — and just 25 for McCain.

“The importance and urgency of the foreclosure crisis plainly impacted the national elections,” says Jim Saccacio, Chairman and CEO at RealtyTrac.com, the leading online marketplace for foreclosure listings and data. “It will not be possible for local home values to rise until we reduce the foreclosure inventory. This means we must slash the number of homes being lost to foreclosure each month and we must also reduce the number of homes now owned by lenders.” Saccacio added that “the economic problems we have are as close as the foreclosed house down the street. Already 20 percent of all mortgage borrowers have homes that are worth less than the debt they secure. The message of this election could not be more clear: Wall Street needs help — but so do Main Street, Elm Street and Oak Street.” In October 2007 I wrote that the presidential election could be won by any candidate who carried the purple states — not the red states or the blue states, but the 10 states with the highest foreclosure levels.

The logic was that these states could be seen as a distinguishable voting block because they had a shared experience — massive numbers of foreclosures. Big foreclosure numbers suggested that local home values had taken a pounding. In turn, lower home values meant smaller property tax collections, fewer government services and reductions among state government workers.

When I wrote last year figures from RealtyTrac.com showed that the 10 states with the most foreclosures at the time were, in order, Nevada, Florida, California, Michigan, Arizona, Georgia, Ohio, Colorado, Texas and Indiana.

These states represented 203 of the 270 electoral votes needed for a presidential election victory. A candidate who could carry the purple states at that time would need just 67 additional electoral votes to win the White House.

This year the list is largely unchanged. The latest RealtyTrac data shows that the top 10 foreclosure states include Nevada, Florida, California, Arizona, Georgia, Michigan, Ohio, New Jersey, Indiana and Colorado. New Jersey has been added to the list while Texas is now ranked 24th for foreclosures, a substantial improvement.

In terms of electoral votes we swapped Texas (34 electoral votes) from the first list for New Jersey (15 electoral votes), a net reduction of 19 electoral votes. In total, the current purple coalition states have 184 electoral votes.

So how did the current members of the purple states coalition vote? With historic data from RealClearPolitics.com let’s look at the results:

State-By-State

Arizona (10 electoral cotes) Voted for Bush in 2000 and 2004. In 2008 Arizona voted for McCain.
California (55 electoral cotes) Voted for Gore in 2000 and Kerry in 2004. In 2008 California voted for Obama.
Colorado (9 electoral cotes) Voted for Bush in 2000 and 2004. In 2008 Colorado voted for Obama.
Florida (27 electoral cotes) Voted for Bush in 2000 and 2004. In 2008 Florida voted for Obama.
Georgia (15 electoral cotes) Voted for Bush in 2000 and 2004. In 2008 Georgia voted for McCain.
Indiana (11 electoral cotes) Voted for Bush in 2000 and 2004. In 2008 Indiana voted for Obama.
Michigan (17 electoral cotes) Voted for Gore in 2000 and Kerry in 2004. In 2008 Michigan voted for Obama.
Nevada (5 electoral cotes) Voted for Bush in 2000 and 2004. In 2008 Nevada voted for Obama.
New Jersey (15 electoral cotes) Voted for Gore in 2000 and Kerry in 2004. In 2008 New Jersey voted for Obama.
Ohio (20 electoral cotes) Voted for Bush in 2000 and 2004. In 2008 Ohio voted for Obama.

The Texas Factor Texas (34 electoral votes) — which was on the top 10 foreclosure list in 2007 — voted for Bush in 2000 and 2004, and for McCain in 2008. It has been replaced on the latest top-10 list by New Jersey (15 electoral votes).

The question raised by Texas is whether the state would have voted for Obama in 2008 had it remained among the top-10 foreclosure states. McCain in 2008 rolled up a substantial lead, winning 55 percent of the state’s votes compared to 44 percent for Obama. A 6 percent change in the Lone Star vote would have produced a different outcome.

Could higher foreclosure levels in Texas have generated a different electoral result? There’s no way to know, but given the voting shift seen among the leading foreclosure states in 2008 it’s not unreasonable to think that the answer would be “yes” — a notion which will not go unnoticed by politicians nationwide. ____________________ Peter G. Miller is the author of the Common-Sense Mortgage and is syndicated in more than 100 newspapers.

source: augustarealestate.com

home-improvement budget

admin — Fri, 30 Sep 2011 00:52:19 +0000

When it comes to projects addressing a home’s interior, homeowners know full well the bottom line plays a big role. For the unprepared homeowner tackling a first do-it-yourself project, costs can quickly escalate out of control. One way to successfully combat that is to make a budget prior to starting a project. When putting one together, consider the following guidelines: – Consult a professional: When initially sitting down to plan a budget, chances are you’ll have no idea where to begin. Tools, materials and time frame all contribute to how much you’ll have to spend.

To make your budget as realistic as possible, consult a professional about providing an estimate for the job, be it a bathroom renovation, home theater installation or refacing the kitchen cabinets. Explain the situation to the contractor and ask for an estimate that doesn’t include labor but does include the cost you’ll need to pay for supplies (contractors often pay less for parts because of existing and ongoing relationships with suppliers). The budget you receive will act as a guideline and let you know if the job you have in mind is the one you’ll be able to afford financially. – Leave some leeway: Many a job has gone unfinished at the hands of a poorly set budget. When budgets are absolute at the onset of a project, dollars are often stretched too thin to handle the inevitable surprises that pop up on a project. For example, old pipes might stall a bathroom renovation, leaving the do-it-yourselfer with a less than fully functioning bathroom that will have to remain that way until more money can be saved.

Plan for the surprises, as they will surely rear their ugly heads. – Be realistic: When determining your budget, don’t fool yourself. If it becomes increasingly apparent you cannot afford the job, don’t go ahead with it anyway. Because many people get loans through their bank for home projects, taking on too big a loan can be a genuine albatross if it’s a loan you cannot afford. Keep in mind that other unexpected problems (i.e., a leaky roof, new appliances, etc.) will arise sometime, and you don’t want to stretch your dollars too thin. If the budget you’ve come to is simply beyond your reach, consider a less expensive project or continue saving and tackle the project down the road. – Consider the value: While it’s nice to improve your home, it’s not always beneficial. In fact, most renovations fail to recoup 100 percent of a homeowner’s initial investment.

The bigger the project does not necessarily equal the bigger return. In their 2006 “Cost vs. Value Report,” Remodeling magazine found that while costs of remodeling projects continue to climb, the recoup value of those projects at resale is declining. This is definitely something homeowners should consider before making any improvements. If the job you’re about to sink a small fortune into won’t yield you nearly as much money at resale, perhaps finding a new place to live that better suits your needs would be a better approach. When making your budget, compare the money you’ll spend to the money you’re likely to recoup at resale and go from there. – Include professional help in your budget: As previously mentioned, surprises always pop up during a project.

One of the more common surprises is the realization that not all jobs can be accomplished alone. When your budget is just about established, think long and hard about hiring a professional to help with the more difficult portions of the project. Hiring a professional for these parts will ensure that the job gets done right, which will save you lots of money in the long run. Written by Metro Creative Services Brought to you by homes.jacksonville.com

Losing Money on Home Sales? Not Here!

admin — Mon, 12 Sep 2011 07:36:45 +0000

Despite the barrage of sour housing news, Chuck Smallwood isn’t pessimistic about selling his house — his first time on that side of the negotiating table.

“We seem to be moving in a positive direction. We haven’t had our house listed that long. We’re beginning to see more and more showings,” said the Baptist minister, who has had his four-bedroom home off Furys Ferry Road on the market barely three months.

The Rev. Smallwood also said he’s not afraid of losing money on the deal.

The Augusta-Aiken area ranked 26th among 291 metro areas in the nation for house price appreciation in 2007, according to the Office of Federal Housing Enterprise Oversight. It is the agency that analyzes the combined mortgage records of Fannie Mae and Freddie Mac, which forms the nation’s largest database of conventional mortgage transactions.

Its house-pricing index showed that Augusta home prices increased nearly 6 percent in 2007, not only placing it in the top national tier, but the best among Georgia metro areas.

“We’ve heard prices declining, but what we’re really seeing is they are still appreciating,” Augusta State University economist Mark Thompson said. “When you do look at what’s going on nationally from a price standpoint, we’re stable. … This is good news for the market.”

Ryan Brashear, past president of the Greater Augusta Association of Realtors, said the data is an indication of how stable Augusta’s market has remained.

“I have not experienced folks falling on their sword worried about the price on their homes. The market has stayed stable. As a result, people are still doing fine when they’re selling their houses. There’s been enough appreciation in recent years,” Mr. Brashear said.

According to the federal housing data, Augusta’s houses have risen in value 39.2 percent over the past five years.

Of all cities on the federal agency’s list, 192 experienced some sales price appreciation and 99 had declines in 2007.

The top metro area in the nation was Wenatchee, Wash., 50 miles east of Seattle. Home prices in Merced, Calif., declined the most in 2007, nearly 19 percent.

Even in areas where prices are falling, it doesn’t necessarily mean people lost money on the house, Mr. Thompson explained. They might be settling for less than what they think it is worth.

For the Rev. Smallwood: “I don’t think I need to lower the price or anything like that. I think we’ll be just fine.”

Did Foreclosures Change The Presidential Election?

admin — Mon, 12 Sep 2011 07:33:27 +0000

If you want to know how the 2008 presidential election was won you need to look no further than the nation’s biggest foreclosure centers.

So how did the current members of the purple states coalition vote? With historic data from RealClearPolitics.com let’s look at the results:

State-By-State

Peter G. Miller is the author of the Common-Sense Mortgage and is syndicated in more than 100 newspapers.

Source: Home.Augusta.com

Birchfield neighborhood

admin — Wed, 08 Dec 2010 14:38:21 +0000

2306A Old Barton Chapel Augusta GA
MLS#: 332202 Price: 36000
Baths: 2 Beds: 3

838 GREENE STREET Augusta GA
MLS#: 327041 Price: 55000

Baths: 7 Beds: 8

3003 Erik Ct Augusta GA
MLS#: 328764 Price: 59900
Baths: 2 Beds: 3

149 BENTLEY DRIVE North Augusta SC
MLS#: 329088 Price: 59900

Baths: 2 Beds: 2

1530 STOVALL STREET Augusta GA
MLS#: 330879 Price: 64900
Baths: 1 Beds: 2

3740 WOODLAKE ROAD Hephzibah GA
MLS#: 331929 Price: 75000

Baths: 2 Beds: 3

3740 Woodlake Hephzibah GA
MLS#: 332440 Price: 75000
Baths: 2 Beds: 3

6021 Sanibel Drive Augusta Ga
MLS#: 327811 Price: 79000

Baths: 2 Beds: 2

4369 FOREST ROAD Hephzibah GA
MLS#: 324413 Price: 79900
Baths: 2 Beds: 3

3254 SUMMERCHASE CIRCLE Augusta GA
MLS#: 329072 Price: 83000

Baths: 2 Beds: 3

4509 LAKELAND COURT Augusta GA
MLS#: 331227 Price: 99900
Baths: 2 Beds: 3

138 GARDNERS MILL RD Augusta GA
MLS#: 331095 Price: 121000

Baths: 2 Beds: 4

3801 Retreat Court Augusta Ga
MLS#: 328273 Price: 129900
Baths: 2 Beds: 3

885 TYLER WOODS Grovetown GA
MLS#: 330920 Price: 149900

Baths: 2 Beds: 4

304 Rabun Valley Lane Augusta Ga
MLS#: 327812 Price: 169900
Baths: 2 Beds: 4

4449 MCMANUS COURT Evans GA
MLS#: 330324 Price: 178777

Baths: 2 Beds: 4

270 Legion Evans GA
MLS#: 328733 Price: 229900
Baths: 2 Beds: 3

5066 WELLS DRIVE Evans GA
MLS#: 330326 Price: 239850

Baths: 3 Beds: 4

901 RAINNE COURT Evans GA
MLS#: 330281 Price: 359900
Baths: 2 Beds: 4

5259 STOREY MILL ROAD Hephzibah GA
MLS#: 320583 Price: 695000

Baths: 1 Beds: 2

3005 MARGOT LANE Grovetown GA
MLS#: 331313 Price: 187900
Baths: 2 Beds: 4

3009 MARGOT LANE Grovetown GA
MLS#: 331315 Price: 187900

Baths: 2 Beds: 4

7207 KRISTA LANE Grovetown GA
MLS#: 325138 Price: 189900
Baths: 2 Beds: 4

7211 KRISTA LANE Grovetown GA
MLS#: 325163 Price: 189900

Baths: 2 Beds: 4

Losing Money on Home Sales? Not Here!

admin — Fri, 26 Nov 2010 03:46:06 +0000

Despite the barrage of sour housing news, Chuck Smallwood isn’t pessimistic about selling his house — his first time on that side of the negotiating table.