Monday, June 6, 2011
Posted by Jonathan Taylor at 6/06/2011 06:37:00 PM
Attention Nithsdale Owners
This Thursday at 3:55 PM I will be selling 27134 Scotland Parkway at PUBLIC FORECLOSURE AUCTION. I strongly believe that neighborhoods like Nithsdale are being extraordinarily affected by this type of event. I have Invited Senator Jim Mathias, Delegate Norm Conway and Delegate Charles Otto to this event to see EXACTLY WHY this foreclosure system does not work. This is a hot button topic for our elected officials and I see some steering away from the problem. With any luck, these gentlemen will attend and with your help, I can show them the faces, in real time, of the people being affected by foreclosure events.
I will be able to answer questions about the proposal I have delivered to our Governors office after the auction. The foreclosure system is based on post depression era mind set and if we have any chance of finding the bottom of the market we must prove to Annapolis that Maryland’s foreclosure system is not working.
Facts. 1. Personal Bankruptcies in MD rank in the top ten of the Nation. (many people file bankruptcy to stop my foreclosure auction)
2. MSNBC claims Maryland leads in discounting property to get it sold.
3. Loan modifications and mediation are dragging down values faster than anticipated. There were 9,000 foreclosures last year, less than 3% of the properties actually sold. Causing banks to “buy in” the property and then price it to “blow it out the door” , causing massive comparable problems in communities.
My proposed solution.
A. Allow families in foreclosure to enroll in a voluntary program to turn over there house if they cannot afford the one they are in.
B. Provide special financing for those losing a home to purchase one they can afford.
C. Allow lenders to sell foreclosed homes on site with home inspections and government bond backed mortgages.
D. Provide a $10,000 tax credit for ANYONE who purchases a foreclosed home.
E. Allow Realtors to represent buyers and earn a commission at foreclosures.
Summary: Being involved with bankruptcy, foreclosures, voluntary auctions, and the traditional brokerage world, I see the problems that are in this system. If we implement the above referenced ideas I could almost guarantee that we could funnel the current real estate demand to these homes that are being handled so ineffectively.
Sincerely, Doug Marshall
Posted by Jonathan Taylor at 6/06/2011 04:42:00 PM
Do you have a teenager sitting at home this summer without a job? You can thank the government for that. While the overall unemployment rate currently sits at 9.1%, the unemployment rate for teenagers 16 to 19 years old is more than 24%. There are a few factors at play. First is the ObamaEconomy. This is an economy that relies on the government to spend money to create jobs, rather than the private sector. These regulatory burdens, the looming ObamaCare mandates, and the promise of higher taxes all plays into the fact that employers don’t want to invest in new employees. Then there is the minimum wage. Back in 2007, the Democrats passed minimum wage hikes under the ignorant liberal understanding of economics … believing that people have the right to a “living wage.” The only problem with this is that mandating that employers pay employees more than they are worth has negative consequences. Just how DO you make economic sense out of paying someone more than they are worth to your business? Well, you could raise prices, I guess. That doesn’t seem to work all that well in this economy though. Another solution is to demand higher production from fewer employees. With higher production you need fewer employees … more teenagers can’t find jobs.
Funny how things work when the government decides what someone should be paid rather than allowing the marketplace to set wages, isn’t it?
Posted by Jonathan Taylor at 6/06/2011 12:47:00 PM
I know that emotions will be running high tonight at 6pm for the Public Input on the Budget and all the cuts that Terry, Tim and Debbie have made to the various departments. I hope people show up in droves, not that it will matter because 500 people could show up and ask them to change their mind it's not going to happen. Urban Salisbury, the hardship fund and anything that showed initiative is getting the axe.
I think that's the thing that makes people uninterested in the way politics effect their lives, the simple fact of when the politicians make up "their" minds its a done deal no matter how many people say otherwise they do what "they" feel is best. We should go back to the old roman way and give every citizen a colored rock and the most color wins what happens.
I mean the pathetic voter turnout in the last election shows people simply don't care and that if people in any particular neighborhood are more invested in what happens they can make all the decisions for the rest of us.
Posted by Jonathan Taylor at 6/06/2011 10:00:00 AM
With several items up for voting Tuesday night the one that I think needs to get passed is the Cameras in School zones. I know some people think it's a way to allow spying on citizens but as long as the cameras point just at the roads and the intersections near the Schools I see no reason not to approve the idea.
The fact is people go way too fast in School zones and if these cameras can be a source of revenue and a way to make people slow down then they need to be put up. I understand people aren't thrilled that the cameras can also send tickets out when School isn't in session but you know what it will make them be aware of their speed in the off season to prepare them for when kids are out. Come on County Council pass it.
Posted by Jonathan Taylor at 6/06/2011 08:00:00 AM