Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they struggle with job losses and loans worth more than their home's value, industry analysts forecast.
"2011 is going to be the peak," said Rick Sharga, a senior vice president at foreclosure tracker RealtyTrac Inc.
The outlook comes after banks repossessed more than 1 million homes in 2010, RealtyTrac said Thursday. That marked the highest annual tally of properties lost to foreclosure on records dating back to 2005. One in 45 U.S. households received a foreclosure filing last year, or a record high of 2.9 million homes. That's up 1.67 percent from 2009.
For December, 257,747 U.S. homes received at least one foreclosure-related notice. That was the lowest monthly total in 30 months. The number of notices fell 1.8 percent from November and 26.3 percent from December 2009, RealtyTrac said.
The pace slowed in the final two months of 2010 as banks reviewed their foreclosure processes after allegations surfaced in September that evictions were handled improperly. Under increased scrutiny by the government, lenders temporarily halted taking actions against borrowers severely behind on their payments.
However, most banks have since resumed their eviction processes, and the first quarter will likely show a rebound in foreclosure activity, Sharga said.
Foreclosures are expected to remain elevated through the year as homeowners contend with stubbornly high unemployment, tougher credit standards for refinancing and falling home values. Sharga said he expects prices to dip another 5 percent nationally before finally bottoming out. The decline will push more borrowers underwater on their mortgages. Already, about one in five homeowners with a mortgage owe more than their home is worth. The pain likely will be the most acute in states that have already been hit hard. That includes former housing boom states Nevada, Arizona, Florida and California, along with states that are suffering most from the economic downturn, including Michigan and Illinois.
Nevada posted the highest foreclosure rate in 2010 for the fourth straight year, despite a 5 percent decline in activity from the year before. One in every 11 households received a foreclosure filing last year in the state. In December, foreclosure activity increased 18 percent from November with a 71 percent spike in bank repossessions.
Arizona and California also showed sharp December increases in the number of homes banks took back, at 52 percent and 47 percent, respectively. Arizona, along with Florida, finished the year at No. 2 and No. 3 for the highest foreclosure rates.
One in every 17 Arizona households got a foreclosure filing last year, while one in 18 received a notice in Florida.
California, Utah, Georgia, Michigan, Idaho, Illinois and Colorado rounded out the top ten states with the highest foreclosure rates.
More than half of the country's foreclosure activity came out of five states in 2010: California, Florida, Arizona, Illinois and Michigan. Together, these states recorded almost 1.5 million households receiving a filing, despite year-over-year decreases in California, Florida and Arizona.
RealtyTrac tracks notices for defaults, scheduled home auctions and home repossessions — warnings that can lead up to a home eventually being lost to foreclosure.
If your worried about foreclosure American Eagle Realty can help you with solid answers about your rights and options before your house is foreclosed on! We are experts in the Short Sale Process and have the experience needed to work with your bank! Loan Mods, too. Contact us we can help, We have helped others we can help you...
American Eagle Realty
www.american-eagle-realty.com
502-969-1801
Thursday, January 13, 2011
Tuesday, December 28, 2010
Real Estate May Struggle in 2011
Why American Real Estate is Struggling to Recover
Residential real estate is weak, in part, because the prices leading up to the peak in 2005 were wildly unrealistic and irrational. You can't explain it with inflation, building costs, or potential rental income. It was just a mania, fueled by ultra-low interest rates, super-EZ credit and the unshakeable belief that "real estate always goes up."
Look at every bubble of the recent past:
* The Tokyo stock exchange in 1989 - 75% lower today.
* The Nasdaq in March 2000 - 50% lower today.
Manias generally take decades to work out - and we're not even six years into this one.
Some analysts say housing is weak because of the tepid recovery and high unemployment. But that doesn't begin to tell the tale.
At the end of the third quarter, 10.8 million American mortgages were underwater (i.e. when borrowers owe more on their homes than what they're worth). This accounts for 22.5% of all U.S. homeowners with a mortgage.
Some housing experts say this is a positive development. After all, 11.3 million mortgages were underwater at the beginning of the year. However, this drop doesn't reflect a rebound in home prices. Rather, the number of underwater homes has declined, as banks have taken back the properties and wiped out their debt through foreclosure.
Unfortunately, foreclosure sales force market prices lower, which puts still more mortgage holders underwater. As time passes, more homeowners will realize that they're paying a mortgage that is far more than the value of the house and walk away - even if they can afford to keep paying.
This is a troubling development, but the stigma is already gone. It used to be a mark of dishonor to have the bank foreclose on your home. Today, it's increasingly viewed as a smart business move.
"Why should I keep paying my $400,000 mortgage when the house is worth less than $250,000?" a pharmaceutical rep asked me recently. "I'm not an idiot."
The Millstones Around the Housing Market's Neck
Homeowners are realizing that house prices aren't going to come roaring back anytime soon. And they're beginning to feel that paying on the mortgage is simply throwing good money after bad. In fact, financial advisors often encourage borrowers to walk away.
"A bad credit record hurts a lot less than a six-figure negative net worth," said one.
There are plenty of other pressures on the housing market, too...
~ Sales Trouble: Most potential buyers can't sell the house they're in. That makes it impossible for them to buy another.
~ Banks Get Tough: Duly chastened by all the no-money and low-money down-payments of the recent past, most banks now require a 10% downstroke or more. Plus a decent credit history. But many potential borrowers don't have both... or either. In turn, that dries up demand. Plus, mortgage rates are rising, making even attractively priced homes less affordable.
~ Sentiment: The psychology of the housing market is fragile. For years, people bought all the house they could afford (and then some) and didn't hesitate to invest in rental properties or vacation homes. Why? Because real estate always goes up, remember?
But now, a second home is more likely to be viewed as an albatross. Speculators rightly see the near-term appreciation potential as nil.
This doesn't mean there aren't bargains available. But buyers need to be extra careful. I know plenty of people who bought homes on the courthouse steps a couple of years ago and are now sitting on terrific losses.
If you can buy a home at a great price and find a renter to cover your costs, by all means, consider taking the plunge. But plan to hold on a few years. The chance of turning a home over for a quick profit - unless you're buying an absolutely distressed property - is remote.
The Real Estate Verdict is in: Another Rough Year Looming
To sum up, a weak economic recovery, high unemployment, rising interest rates, falling house prices, an inventory glut, increasing foreclosures, tight credit, poor psychology and mounting walk-aways will keep residential home prices under pressure in 2011.
And 2012 isn't likely to be any great shakes either. Please don't shoot the messenger.
Good investing,
Alexander Green
The Oxford Club
The good news is that regardless of what happens with housing in 2011 - or any other market for that matter - there's a simple way for you to profit next year.
If your worried about foreclosure American Eagle Realty can help you with solid answers about your rights and options before your house is foreclosed on! We are experts in the Short Sale Process and have the experience needed to work with your bank! Loan Mods, too. Contact us we can help, We have helped others we can help you...
American Eagle Realty
www.american-eagle-realty.com
502-969-1801
Residential real estate is weak, in part, because the prices leading up to the peak in 2005 were wildly unrealistic and irrational. You can't explain it with inflation, building costs, or potential rental income. It was just a mania, fueled by ultra-low interest rates, super-EZ credit and the unshakeable belief that "real estate always goes up."
Look at every bubble of the recent past:
* The Tokyo stock exchange in 1989 - 75% lower today.
* The Nasdaq in March 2000 - 50% lower today.
Manias generally take decades to work out - and we're not even six years into this one.
Some analysts say housing is weak because of the tepid recovery and high unemployment. But that doesn't begin to tell the tale.
At the end of the third quarter, 10.8 million American mortgages were underwater (i.e. when borrowers owe more on their homes than what they're worth). This accounts for 22.5% of all U.S. homeowners with a mortgage.
Some housing experts say this is a positive development. After all, 11.3 million mortgages were underwater at the beginning of the year. However, this drop doesn't reflect a rebound in home prices. Rather, the number of underwater homes has declined, as banks have taken back the properties and wiped out their debt through foreclosure.
Unfortunately, foreclosure sales force market prices lower, which puts still more mortgage holders underwater. As time passes, more homeowners will realize that they're paying a mortgage that is far more than the value of the house and walk away - even if they can afford to keep paying.
This is a troubling development, but the stigma is already gone. It used to be a mark of dishonor to have the bank foreclose on your home. Today, it's increasingly viewed as a smart business move.
"Why should I keep paying my $400,000 mortgage when the house is worth less than $250,000?" a pharmaceutical rep asked me recently. "I'm not an idiot."
The Millstones Around the Housing Market's Neck
Homeowners are realizing that house prices aren't going to come roaring back anytime soon. And they're beginning to feel that paying on the mortgage is simply throwing good money after bad. In fact, financial advisors often encourage borrowers to walk away.
"A bad credit record hurts a lot less than a six-figure negative net worth," said one.
There are plenty of other pressures on the housing market, too...
~ Sales Trouble: Most potential buyers can't sell the house they're in. That makes it impossible for them to buy another.
~ Banks Get Tough: Duly chastened by all the no-money and low-money down-payments of the recent past, most banks now require a 10% downstroke or more. Plus a decent credit history. But many potential borrowers don't have both... or either. In turn, that dries up demand. Plus, mortgage rates are rising, making even attractively priced homes less affordable.
~ Sentiment: The psychology of the housing market is fragile. For years, people bought all the house they could afford (and then some) and didn't hesitate to invest in rental properties or vacation homes. Why? Because real estate always goes up, remember?
But now, a second home is more likely to be viewed as an albatross. Speculators rightly see the near-term appreciation potential as nil.
This doesn't mean there aren't bargains available. But buyers need to be extra careful. I know plenty of people who bought homes on the courthouse steps a couple of years ago and are now sitting on terrific losses.
If you can buy a home at a great price and find a renter to cover your costs, by all means, consider taking the plunge. But plan to hold on a few years. The chance of turning a home over for a quick profit - unless you're buying an absolutely distressed property - is remote.
The Real Estate Verdict is in: Another Rough Year Looming
To sum up, a weak economic recovery, high unemployment, rising interest rates, falling house prices, an inventory glut, increasing foreclosures, tight credit, poor psychology and mounting walk-aways will keep residential home prices under pressure in 2011.
And 2012 isn't likely to be any great shakes either. Please don't shoot the messenger.
Good investing,
Alexander Green
The Oxford Club
The good news is that regardless of what happens with housing in 2011 - or any other market for that matter - there's a simple way for you to profit next year.
If your worried about foreclosure American Eagle Realty can help you with solid answers about your rights and options before your house is foreclosed on! We are experts in the Short Sale Process and have the experience needed to work with your bank! Loan Mods, too. Contact us we can help, We have helped others we can help you...
American Eagle Realty
www.american-eagle-realty.com
502-969-1801
Monday, December 27, 2010
Bank of America Gets Low Marks for Delinquency Resolution
The time mortgage loan servicers take to resolve delinquent loans through modification or foreclosure varies widely. According to an analysis by Moody’s Investors Service, Bank of America has demonstrated
the weakest performance measured both by its speed in resolving the status of delinquent loans and by its proportion of delinquent loans that have yet to be resolved. The ratings agency found that GMAC Mortgage, on the other hand, has generally performed better than its peers.
Moody’s examined seven major servicers and their resolution of delinquent loans held in residential mortgage-backed securities (RMBS). In addition to BofA and GMAC, the subjects of the analysis included Wells Fargo, JPMorgan Chase, CitiMortgage, Ocwen, and Litton Loan Servicing.
The ratings agency looked at residential mortgage loans that were seriously delinquent or in default at any time between June 2009 and August 2010 and that belonged to 2005-2008 vintage RMBS loan pools. The analysis was book-ended with data as of the end of this August so that the results were not skewed by delays resulting from the recent foreclosure affidavit problems and moratoriums that began cropping up in September.
Servicer performance was measured across three main dimensions:
1. For delinquent loans that have neither been permanently modified nor liquidated, the average length of time they have been seriously delinquent;
2. For loans that have been liquidated or modified, the average time taken to liquidate or modify them since they first became seriously delinquent;
3. The relative proportions of a servicer’s loans that at some time in the study’s timeframe were 90 days delinquent and that now reside in each loan status (three or months past due, in foreclosure, or REO).
Overall, Moody’s concluded that Bank of America has performed the worst when it comes to resolving delinquent loans across all three asset classes examined – subprime,
Alt-A, and jumbo. The North Carolina-based bank holds the largest proportion of unresolved seriously delinquent loans, and its seriously delinquent loans have generally been delinquent longer than those of the other major servicers.
Moody’s says these observations are particularly true in the subprime sector, in which BofA inherited a large portfolio of poorly-performing loans when it acquired Countrywide.
The agency’s analysts explained that these loans have been unresolved for particularly long periods, primarily because Bank of America agreed in a multi-state settlement with attorneys general in October 2008 to evaluate each modification-eligible Countrywide loan on a case-by case basis and agreed not to initiate foreclosure proceedings until it had exhausted all modification efforts.
Moody’s described the variation in the approach adopted by different servicers in resolving delinquent loans as “large.” The agency highlights one such comparison that shows the migration of subprime loans serviced by BofA and GMAC Mortgage after becoming 90 or more days delinquent.
The analysis revealed that on average, Bank of America will resolve 50 percent of its loans within about 14 months of becoming 90 days delinquent, while GMAC will resolve 50 percent within only about 4 months.
Looking at the various loan groups, Moody’s says subprime loans have been 90-plus days delinquent longer than unresolved Alt-A and jumbo loans. This fact is due in part to the larger proportion of subprime borrowers that are eligible for the government’s Home Affordable Modification Program (HAMP) because they have have better loan documentation and owner occupancy levels than Alt-A borrowers and less income than jumbo borrowers, Moody’s explained.
A loan’s HAMP eligibility means that the servicer must spend more time exhausting all loss mitigation options before proceeding to foreclosure, and because of this fact, Moody’s says even subprime loans that are already in foreclosure are taking longer to be liquidated or modified than Alt-A or jumbo loans in foreclosure.
Not only does it takes longer to determine whether or not a subprime loan is eligible for HAMP, the ratings agency explained, but even in cases where servicers have exhausted all loss mitigation possibilities, properties backing subprime loans are typically in less desirable neighborhoods or lack proper maintenance when compared to properties backing Alt-A or jumbo loans and thus take longer time to market when they reach REO status. By: Carrie Bay from DSN News
If your worried about foreclosure American Eagle Realty can help you with solid answers about your rights and options before your house is foreclosed on! We are experts in the Short Sale Process and have the experience needed to work with your bank! Loan Mods, too. Contact us we can help, We have helped others we can help you...
American Eagle Realty
www.american-eagle-realty.com
502-969-1801 begin_of_the_skype_highlighting 502-969-1801 end_of_the_skype_highlighting
the weakest performance measured both by its speed in resolving the status of delinquent loans and by its proportion of delinquent loans that have yet to be resolved. The ratings agency found that GMAC Mortgage, on the other hand, has generally performed better than its peers.
Moody’s examined seven major servicers and their resolution of delinquent loans held in residential mortgage-backed securities (RMBS). In addition to BofA and GMAC, the subjects of the analysis included Wells Fargo, JPMorgan Chase, CitiMortgage, Ocwen, and Litton Loan Servicing.
The ratings agency looked at residential mortgage loans that were seriously delinquent or in default at any time between June 2009 and August 2010 and that belonged to 2005-2008 vintage RMBS loan pools. The analysis was book-ended with data as of the end of this August so that the results were not skewed by delays resulting from the recent foreclosure affidavit problems and moratoriums that began cropping up in September.
Servicer performance was measured across three main dimensions:
1. For delinquent loans that have neither been permanently modified nor liquidated, the average length of time they have been seriously delinquent;
2. For loans that have been liquidated or modified, the average time taken to liquidate or modify them since they first became seriously delinquent;
3. The relative proportions of a servicer’s loans that at some time in the study’s timeframe were 90 days delinquent and that now reside in each loan status (three or months past due, in foreclosure, or REO).
Overall, Moody’s concluded that Bank of America has performed the worst when it comes to resolving delinquent loans across all three asset classes examined – subprime,
Alt-A, and jumbo. The North Carolina-based bank holds the largest proportion of unresolved seriously delinquent loans, and its seriously delinquent loans have generally been delinquent longer than those of the other major servicers.
Moody’s says these observations are particularly true in the subprime sector, in which BofA inherited a large portfolio of poorly-performing loans when it acquired Countrywide.
The agency’s analysts explained that these loans have been unresolved for particularly long periods, primarily because Bank of America agreed in a multi-state settlement with attorneys general in October 2008 to evaluate each modification-eligible Countrywide loan on a case-by case basis and agreed not to initiate foreclosure proceedings until it had exhausted all modification efforts.
Moody’s described the variation in the approach adopted by different servicers in resolving delinquent loans as “large.” The agency highlights one such comparison that shows the migration of subprime loans serviced by BofA and GMAC Mortgage after becoming 90 or more days delinquent.
The analysis revealed that on average, Bank of America will resolve 50 percent of its loans within about 14 months of becoming 90 days delinquent, while GMAC will resolve 50 percent within only about 4 months.
Looking at the various loan groups, Moody’s says subprime loans have been 90-plus days delinquent longer than unresolved Alt-A and jumbo loans. This fact is due in part to the larger proportion of subprime borrowers that are eligible for the government’s Home Affordable Modification Program (HAMP) because they have have better loan documentation and owner occupancy levels than Alt-A borrowers and less income than jumbo borrowers, Moody’s explained.
A loan’s HAMP eligibility means that the servicer must spend more time exhausting all loss mitigation options before proceeding to foreclosure, and because of this fact, Moody’s says even subprime loans that are already in foreclosure are taking longer to be liquidated or modified than Alt-A or jumbo loans in foreclosure.
Not only does it takes longer to determine whether or not a subprime loan is eligible for HAMP, the ratings agency explained, but even in cases where servicers have exhausted all loss mitigation possibilities, properties backing subprime loans are typically in less desirable neighborhoods or lack proper maintenance when compared to properties backing Alt-A or jumbo loans and thus take longer time to market when they reach REO status. By: Carrie Bay from DSN News
If your worried about foreclosure American Eagle Realty can help you with solid answers about your rights and options before your house is foreclosed on! We are experts in the Short Sale Process and have the experience needed to work with your bank! Loan Mods, too. Contact us we can help, We have helped others we can help you...
American Eagle Realty
www.american-eagle-realty.com
502-969-1801 begin_of_the_skype_highlighting 502-969-1801 end_of_the_skype_highlighting
Sunday, December 26, 2010
The Christmas Guest
It happened one day at the year's white end,
Two neighbors called on an old-time friend
And they found his shop so meager and mean,
Made gay with a thousand boughs of green,
And Conrad was sitting with face a-shine
When he suddenly stopped as he stitched a twine
And said, "Old friends, at dawn today,
When the cock was crowing the night away,
The Lord appeared in a dream to me
And said, 'I am coming your guest to be'.
So I've been busy with feet astir,
Strewing my shop with branches of fir,
The table is spread and the kettle is shined
And over the rafters the holly is twined,
And now I will wait for my Lord to appear
And listen closely so I will hear
His step as He nears my humble place,
And I open the door and look in His face. . ."
So his friends went home and left Conrad alone,
For this was the happiest day he had known,
For, long since, his family had passed away
And Conrad has spent a sad Christmas Day.
But he knew with the Lord as his Christmas guest
This Christmas would be the dearest and best,
And he listened with only joy in his heart.
And with every sound he would rise with a start
And look for the Lord to be standing there
In answer to his earnest prayer
So he ran to the window after hearing a sound,
But all that he saw on the snow-covered ground
Was a shabby beggar whose shoes were torn
And all of his clothes were ragged and worn.
So Conrad was touched and went to the door
And he said, "Your feet must be frozen and sore,
And I have some shoes in my shop for you
And a coat that will keep you warmer, too."
So with grateful heart the man went away,
But as Conrad noticed the time of day
He wondered what made the dear Lord so late
And how much longer he'd have to wait,
When he heard a knock and ran to the door,
But it was only a stranger once more,
A bent, old crone with a shawl of black,
A bundle of faggots piled on her back.
She asked for only a place to rest,
But that was reserved for Conrad's Great Guest.
But her voice seemed to plead, "Don't send me away
Let me rest awhile on Christmas day."
So Conrad brewed her a steaming cup
And told her to sit at the table and sip.
But after she left he was filled with dismay
For he saw that the hours were passing away
And the Lord had not come as He said He would,
And Conrad felt sure he had misunderstood.
When out of the stillness he heard a cry,
"Please help me and tell me where am I."
So again he opened his friendly door
And stood disappointed as twice before,
It was only a child who had wandered away
And was lost from her family on Christmas Day. .
Again Conrad's heart was heavy and sad,
But he knew he should make this little child glad,
So he called her in and wiped her tears
And quieted her childish fears.
Then he led her back to her home once more
But as he entered his own darkened door,
He knew that the Lord was not coming today
For the hours of Christmas had passed away.
So he went to his room and knelt down to pray
And he said, "Dear Lord, why did you delay,
What kept You from coming to call on me,
For I wanted so much Your face to see. . ."
When soft in the silence a voice he heard,
"Lift up your head for I kept My word--
Three times My shadow crossed your floor--
Three times I came to your lonely door--
For I was the beggar with bruised, cold feet,
I was the woman you gave to eat,
And I was the child on the homeless street."
Helen Steiner Rice
Merry Christmas
American Eagle Realty
Two neighbors called on an old-time friend
And they found his shop so meager and mean,
Made gay with a thousand boughs of green,
And Conrad was sitting with face a-shine
When he suddenly stopped as he stitched a twine
And said, "Old friends, at dawn today,
When the cock was crowing the night away,
The Lord appeared in a dream to me
And said, 'I am coming your guest to be'.
So I've been busy with feet astir,
Strewing my shop with branches of fir,
The table is spread and the kettle is shined
And over the rafters the holly is twined,
And now I will wait for my Lord to appear
And listen closely so I will hear
His step as He nears my humble place,
And I open the door and look in His face. . ."
So his friends went home and left Conrad alone,
For this was the happiest day he had known,
For, long since, his family had passed away
And Conrad has spent a sad Christmas Day.
But he knew with the Lord as his Christmas guest
This Christmas would be the dearest and best,
And he listened with only joy in his heart.
And with every sound he would rise with a start
And look for the Lord to be standing there
In answer to his earnest prayer
So he ran to the window after hearing a sound,
But all that he saw on the snow-covered ground
Was a shabby beggar whose shoes were torn
And all of his clothes were ragged and worn.
So Conrad was touched and went to the door
And he said, "Your feet must be frozen and sore,
And I have some shoes in my shop for you
And a coat that will keep you warmer, too."
So with grateful heart the man went away,
But as Conrad noticed the time of day
He wondered what made the dear Lord so late
And how much longer he'd have to wait,
When he heard a knock and ran to the door,
But it was only a stranger once more,
A bent, old crone with a shawl of black,
A bundle of faggots piled on her back.
She asked for only a place to rest,
But that was reserved for Conrad's Great Guest.
But her voice seemed to plead, "Don't send me away
Let me rest awhile on Christmas day."
So Conrad brewed her a steaming cup
And told her to sit at the table and sip.
But after she left he was filled with dismay
For he saw that the hours were passing away
And the Lord had not come as He said He would,
And Conrad felt sure he had misunderstood.
When out of the stillness he heard a cry,
"Please help me and tell me where am I."
So again he opened his friendly door
And stood disappointed as twice before,
It was only a child who had wandered away
And was lost from her family on Christmas Day. .
Again Conrad's heart was heavy and sad,
But he knew he should make this little child glad,
So he called her in and wiped her tears
And quieted her childish fears.
Then he led her back to her home once more
But as he entered his own darkened door,
He knew that the Lord was not coming today
For the hours of Christmas had passed away.
So he went to his room and knelt down to pray
And he said, "Dear Lord, why did you delay,
What kept You from coming to call on me,
For I wanted so much Your face to see. . ."
When soft in the silence a voice he heard,
"Lift up your head for I kept My word--
Three times My shadow crossed your floor--
Three times I came to your lonely door--
For I was the beggar with bruised, cold feet,
I was the woman you gave to eat,
And I was the child on the homeless street."
Helen Steiner Rice
Merry Christmas
American Eagle Realty
Saturday, December 25, 2010
Jesus is Lord
It was Dr. James Allan Francis who penned the following words that aptly describe the influence of Jesus through the history of mankind:
"Here is a man who was born in an obscure village, the child of a peasant woman. He grew up in another village. He worked in a carpenter shop until He was thirty. Then for three years He was an itinerant preacher.
"He never owned a home. He never wrote a book. He never held an office. He never had a family. He never went to college. He never put His foot inside a big city. He never traveled two hundred miles from the place He was born. He never did one of the things that usually accompany greatness. He had no credentials but Himself. . . .
"While still a young man, the tide of popular opinion turned against Him. His friends ran away. One of them denied Him. He was turned over to His enemies. He went through the mockery of a trial. He was nailed upon a cross between two thieves. While He was dying His executioners gambled for the only piece of property He had on earth—His coat. When He was dead, He was laid in a borrowed grave through the pity of a friend.
"Nineteen long centuries have come and gone, and today He is a centerpiece of the human race and leader of the column of progress.
"I am far within the mark when I say that all the armies that ever marched, all the navies that were ever built; all the parliaments that ever sat and all the kings that ever reigned, put together, have not affected the life of man upon this earth as powerfully as has that one solitary life."
The late Wilbur Smith, respected Bible scholar of the last generation, once wrote, “The latest edition of the Encyclopedia Britannica gives twenty thousand words to this person, Jesus, and does not even hint that He did not exist—more words, by the way, than are given to Aristotle, Alexander, Cicero, Julius Caesar, or Napoleon Bonaparte.”
George Buttrick, recognized as one of the ten greatest preachers of the twentieth century, wrote: “Jesus gave history a new beginning. In every land he is at home. . . . His birthday is kept across the world. His death-day set a gallows against every skyline.”
Even Napoleon himself admitted, "I know men and I tell you that Jesus Christ was no mere man: between him and whoever else in the world there is no possible term of comparison."
Amen
American Eagle Realty
"Here is a man who was born in an obscure village, the child of a peasant woman. He grew up in another village. He worked in a carpenter shop until He was thirty. Then for three years He was an itinerant preacher.
"He never owned a home. He never wrote a book. He never held an office. He never had a family. He never went to college. He never put His foot inside a big city. He never traveled two hundred miles from the place He was born. He never did one of the things that usually accompany greatness. He had no credentials but Himself. . . .
"While still a young man, the tide of popular opinion turned against Him. His friends ran away. One of them denied Him. He was turned over to His enemies. He went through the mockery of a trial. He was nailed upon a cross between two thieves. While He was dying His executioners gambled for the only piece of property He had on earth—His coat. When He was dead, He was laid in a borrowed grave through the pity of a friend.
"Nineteen long centuries have come and gone, and today He is a centerpiece of the human race and leader of the column of progress.
"I am far within the mark when I say that all the armies that ever marched, all the navies that were ever built; all the parliaments that ever sat and all the kings that ever reigned, put together, have not affected the life of man upon this earth as powerfully as has that one solitary life."
The late Wilbur Smith, respected Bible scholar of the last generation, once wrote, “The latest edition of the Encyclopedia Britannica gives twenty thousand words to this person, Jesus, and does not even hint that He did not exist—more words, by the way, than are given to Aristotle, Alexander, Cicero, Julius Caesar, or Napoleon Bonaparte.”
George Buttrick, recognized as one of the ten greatest preachers of the twentieth century, wrote: “Jesus gave history a new beginning. In every land he is at home. . . . His birthday is kept across the world. His death-day set a gallows against every skyline.”
Even Napoleon himself admitted, "I know men and I tell you that Jesus Christ was no mere man: between him and whoever else in the world there is no possible term of comparison."
Amen
American Eagle Realty
Friday, December 24, 2010
The Christmas Story of the Birth of Jesus
This Christmas story gives a biblical account of the events surrounding the birth of Jesus Christ.
The Christmas story is paraphrased from the New Testament Books of Matthew and Luke in the Bible.
References:
Matthew 1:18-25; Matthew 2:1-12; Luke 1:26-38; Luke 2:1-20.
The Conception of Jesus Foretold
Mary, a virgin, was living in Galilee of Nazareth and was engaged to be married to Joseph, a Jewish carpenter. An angel visited her and explained to her that she would conceive a son by the power of the Holy Spirit. She would carry and give birth to this child and she would name him Jesus.
At first Mary was afraid and troubled by the angel's words. Being a virgin, Mary questioned the angel, "How will this be?" The angel explained that the child would be God's own Son and, therefore, "nothing is impossible with God." Humbled and in awe, Mary believed the angel of the Lord and rejoiced in God her Savior.
Surely Mary reflected with wonder on the words found in Isaiah 7:14 foretelling this event, "Therefore the Lord himself will give you a sign: The virgin will be with child and will give birth to a son, and will call him Immanuel." (NIV)
The Birth of Jesus:
While Mary was still engaged to Joseph, she miraculously became pregnant through the Holy Spirit, as foretold to her by the angel. When Mary told Joseph she was pregnant, he had every right to feel disgraced. He knew the child was not his own, and Mary's apparent unfaithfulness carried a grave social stigma. Joseph not only had the right to divorce Mary, under Jewish law she could be put to death by stoning.
Although Joseph's initial reaction was to break the engagement, the appropriate thing for a righteous man to do, he treated Mary with extreme kindness. He did not want to cause her further shame, so he decided to act quietly. But God sent an angel to Joseph in a dream to verify Mary's story and reassure him that his marriage to her was God's will. The angel explained that the child within Mary was conceived by the Holy Spirit, that his name would be Jesus and that he was the Messiah, God with us.
When Joseph woke from his dream, he willingly obeyed God and took Mary home to be his wife, in spite of the public humiliation he would face. Perhaps this noble quality is one of the reasons God chose him to be the Messiah's earthly father.
Joseph too must have wondered in awe as he remembered the words found in Isaiah 7:14, "Therefore the Lord himself will give you a sign: The virgin will be with child and will give birth to a son, and will call him Immanuel." (NIV)
At that time, Caesar Augustus decreed that a census be taken, and every person in the entire Roman world had to go to his own town to register. Joseph, being of the line of David, was required to go to Bethlehem to register with Mary. While in Bethlehem, Mary gave birth to Jesus. Probably due to the census, the inn was too crowded, and Mary gave birth in a crude stable. She wrapped the baby in cloths and placed him in a manger.
The Shepherd's Worship the Savior:
Out in the fields, an angel of the Lord appeared to the shepherds who were tending their flocks of sheep by night. The angel announced that the Savior had been born in the town of David. Suddenly a great host of heavenly beings appeared with the angels and began singing praises to God. As the angelic beings departed, the shepherds decided to travel to Bethlehem and see the Christ-child.
There they found Mary, Joseph and the baby, in the stable. After their visit, they began to spread the word about this amazing child and everything the angel had said about him. They went on their way still praising and glorifying God. But Mary kept quiet, treasuring their words and pondering them in her heart. It must have been beyond her ability to grasp, that sleeping in her arms—the tender child she had just borne—was the Savior of the world.
The Magi Bring Gifts:
After Jesus' birth, Herod was king of Judea. At this time wise men (Magi) from the east saw a star, they came in search, knowing the star signified the birth of the king of the Jews. The wise men came to the Jewish rulers in Jerusalem and asked where the Christ was to be born. The rulers explained, "In Bethlehem in Judea," referring to Micah 5:2. Herod secretly met with the Magi and asked them to report back after they had found the child. Herod told the Magi that he too wanted to go and worship the babe. But secretly Herod was plotting to kill the child.
So the wise men continued to follow the star in search of the new born king and found Jesus with his mother in Bethlehem. (Most likely Jesus was already two years of age by this time.) They bowed and worshipped him, offering treasures of gold, incense and myrrh. When they left, they did not return to Herod. They had been warned in a dream of his plot to destroy the child.
The Christmas Story of the Birth of Jesus
By Mary Fairchild, About.com Guide
To our customers we have been able to help this year, We hope we have brought joy back into your life.
To the customers we are in the middle of helping you solve the crisis you will come out of this!
To our future customers we can help you walk through this crisis and restore your self respect!
No matter what phase you are in you are our most important asset.
May God Keep you in the hollow of his hand
Merry Christmas to all.
American Eagle Realty
www-American-Eagle-Realty.com
502-969-1801 begin_of_the_skype_highlighting 502-969-1801 end_of_the_skype_highlighting begin_of_the_skype_highlighting 502-969-1801 end_of_the_skype_highlighting begin_of_the_skype_highlighting 502-969-1801 end_of_the_skype_highlighting
The Christmas story is paraphrased from the New Testament Books of Matthew and Luke in the Bible.
References:
Matthew 1:18-25; Matthew 2:1-12; Luke 1:26-38; Luke 2:1-20.
The Conception of Jesus Foretold
Mary, a virgin, was living in Galilee of Nazareth and was engaged to be married to Joseph, a Jewish carpenter. An angel visited her and explained to her that she would conceive a son by the power of the Holy Spirit. She would carry and give birth to this child and she would name him Jesus.
At first Mary was afraid and troubled by the angel's words. Being a virgin, Mary questioned the angel, "How will this be?" The angel explained that the child would be God's own Son and, therefore, "nothing is impossible with God." Humbled and in awe, Mary believed the angel of the Lord and rejoiced in God her Savior.
Surely Mary reflected with wonder on the words found in Isaiah 7:14 foretelling this event, "Therefore the Lord himself will give you a sign: The virgin will be with child and will give birth to a son, and will call him Immanuel." (NIV)
The Birth of Jesus:
While Mary was still engaged to Joseph, she miraculously became pregnant through the Holy Spirit, as foretold to her by the angel. When Mary told Joseph she was pregnant, he had every right to feel disgraced. He knew the child was not his own, and Mary's apparent unfaithfulness carried a grave social stigma. Joseph not only had the right to divorce Mary, under Jewish law she could be put to death by stoning.
Although Joseph's initial reaction was to break the engagement, the appropriate thing for a righteous man to do, he treated Mary with extreme kindness. He did not want to cause her further shame, so he decided to act quietly. But God sent an angel to Joseph in a dream to verify Mary's story and reassure him that his marriage to her was God's will. The angel explained that the child within Mary was conceived by the Holy Spirit, that his name would be Jesus and that he was the Messiah, God with us.
When Joseph woke from his dream, he willingly obeyed God and took Mary home to be his wife, in spite of the public humiliation he would face. Perhaps this noble quality is one of the reasons God chose him to be the Messiah's earthly father.
Joseph too must have wondered in awe as he remembered the words found in Isaiah 7:14, "Therefore the Lord himself will give you a sign: The virgin will be with child and will give birth to a son, and will call him Immanuel." (NIV)
At that time, Caesar Augustus decreed that a census be taken, and every person in the entire Roman world had to go to his own town to register. Joseph, being of the line of David, was required to go to Bethlehem to register with Mary. While in Bethlehem, Mary gave birth to Jesus. Probably due to the census, the inn was too crowded, and Mary gave birth in a crude stable. She wrapped the baby in cloths and placed him in a manger.
The Shepherd's Worship the Savior:
Out in the fields, an angel of the Lord appeared to the shepherds who were tending their flocks of sheep by night. The angel announced that the Savior had been born in the town of David. Suddenly a great host of heavenly beings appeared with the angels and began singing praises to God. As the angelic beings departed, the shepherds decided to travel to Bethlehem and see the Christ-child.
There they found Mary, Joseph and the baby, in the stable. After their visit, they began to spread the word about this amazing child and everything the angel had said about him. They went on their way still praising and glorifying God. But Mary kept quiet, treasuring their words and pondering them in her heart. It must have been beyond her ability to grasp, that sleeping in her arms—the tender child she had just borne—was the Savior of the world.
The Magi Bring Gifts:
After Jesus' birth, Herod was king of Judea. At this time wise men (Magi) from the east saw a star, they came in search, knowing the star signified the birth of the king of the Jews. The wise men came to the Jewish rulers in Jerusalem and asked where the Christ was to be born. The rulers explained, "In Bethlehem in Judea," referring to Micah 5:2. Herod secretly met with the Magi and asked them to report back after they had found the child. Herod told the Magi that he too wanted to go and worship the babe. But secretly Herod was plotting to kill the child.
So the wise men continued to follow the star in search of the new born king and found Jesus with his mother in Bethlehem. (Most likely Jesus was already two years of age by this time.) They bowed and worshipped him, offering treasures of gold, incense and myrrh. When they left, they did not return to Herod. They had been warned in a dream of his plot to destroy the child.
The Christmas Story of the Birth of Jesus
By Mary Fairchild, About.com Guide
To our customers we have been able to help this year, We hope we have brought joy back into your life.
To the customers we are in the middle of helping you solve the crisis you will come out of this!
To our future customers we can help you walk through this crisis and restore your self respect!
No matter what phase you are in you are our most important asset.
May God Keep you in the hollow of his hand
Merry Christmas to all.
American Eagle Realty
www-American-Eagle-Realty.com
502-969-1801 begin_of_the_skype_highlighting 502-969-1801 end_of_the_skype_highlighting begin_of_the_skype_highlighting 502-969-1801 end_of_the_skype_highlighting begin_of_the_skype_highlighting 502-969-1801 end_of_the_skype_highlighting
Thursday, December 23, 2010
National Home Prices Down 5.8%, Major Metros See Double Dip: Report
The November home market report from Clear Capital shows that prices nationally fell another 5.8 percent over the previous three months. The company says although the pace of decline has slowed, home prices show no signs of bottoming out yet.
Compared to a year ago, Clear Capital’s national home price index is down 2.7 percent, but is 5.5 percent above the record lows of early 2009.
Thirteen of the 50 major metros included in Clear Capital’s study have already entered into double-dip territory, indicating that their current price levels are the lowest since the housing downturn began.
Among them are Las Vegas, Seattle, Tucson, Philadelphia, Portland, and Nashville. Charlotte, North Carolina also
made the list, as did Virginia Beach and Richmond in Virginia, and the four biggest Florida markets of Miami, Tampa, Orlando, and Jacksonville.
Dr. Alex Villacorta, Clear Capital’s senior statistician, notes that while a number of individual markets have distanced themselves from national price levels in a negative direction, there are a couple of bright spots in the company’s latest report.
Washington, D.C. maintained its positive price growth in November, with home values there now 15 percent above last year’s lows.
Home prices in Honolulu, Hawaii rose 2.4 percent during the September to November period, pushing them 6.9 percent above year-ago levels.
Although they experienced quarterly price declines of nearly 2 percent, the two California metropolitan statistical areas that include Los Angeles and Riverside are also on the positive end of the scale when looking at the year-over-year price change, up 5.4 percent and 6.9 percent, respectively.
Dr. Alex Villacorta, Clear Capital’s senior statistician, said, “It’s encouraging that the immediate and dramatic decline in prices that we observed since mid August appears to be softening. But any optimism should be tempered by the fact that November’s numbers show continued significant downward pressure for home prices.”
If your worried about foreclosure American Eagle Realty can help you with solid answers about your rights and options before your house is foreclosed on! We are experts in the Short Sale Process and have the experience needed to work with your bank! Loan Mods, too. Contact us we can help, We have helped others we can help you...
If your looking for the right investment property we can help!
American Eagle Realty
www.american-eagle-realty.com
502-969-1801
Compared to a year ago, Clear Capital’s national home price index is down 2.7 percent, but is 5.5 percent above the record lows of early 2009.
Thirteen of the 50 major metros included in Clear Capital’s study have already entered into double-dip territory, indicating that their current price levels are the lowest since the housing downturn began.
Among them are Las Vegas, Seattle, Tucson, Philadelphia, Portland, and Nashville. Charlotte, North Carolina also
made the list, as did Virginia Beach and Richmond in Virginia, and the four biggest Florida markets of Miami, Tampa, Orlando, and Jacksonville.
Dr. Alex Villacorta, Clear Capital’s senior statistician, notes that while a number of individual markets have distanced themselves from national price levels in a negative direction, there are a couple of bright spots in the company’s latest report.
Washington, D.C. maintained its positive price growth in November, with home values there now 15 percent above last year’s lows.
Home prices in Honolulu, Hawaii rose 2.4 percent during the September to November period, pushing them 6.9 percent above year-ago levels.
Although they experienced quarterly price declines of nearly 2 percent, the two California metropolitan statistical areas that include Los Angeles and Riverside are also on the positive end of the scale when looking at the year-over-year price change, up 5.4 percent and 6.9 percent, respectively.
Dr. Alex Villacorta, Clear Capital’s senior statistician, said, “It’s encouraging that the immediate and dramatic decline in prices that we observed since mid August appears to be softening. But any optimism should be tempered by the fact that November’s numbers show continued significant downward pressure for home prices.”
If your worried about foreclosure American Eagle Realty can help you with solid answers about your rights and options before your house is foreclosed on! We are experts in the Short Sale Process and have the experience needed to work with your bank! Loan Mods, too. Contact us we can help, We have helped others we can help you...
If your looking for the right investment property we can help!
American Eagle Realty
www.american-eagle-realty.com
502-969-1801
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