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Recent Blog Posts in September 2007

September 21, 2007
  Despite Housing Slowdown, Today's The Time To Buy. Can You Afford To Purchase If Prices Or Interest Rates Rise?
Posted By Scott Wilson

Potential buyers and investors have given considerable thought to both housing prices and interest rates recently for two reasons:  First, they have been intrigued by comments from national economists about the statistics supplied by the Department of Housing an Urban Development that showed a 10.2 percent drop in the rate of new single-family home sales between July 2006 and July 2007.  Second, mortgage money for many homes will be more difficult (and possibly more expensive) to obtain, given the sub prime fallout and reports that borrowers in the “jumbo” category (loan amounts greater than $417,000) were facing increased scrutiny.

The idea of “saving my money until home prices come down” has probably become a contradiction in terms, at least for the foreseeable future.  Yes, housing is cyclical but it usually does not go backward for very long, if at all.  The additional money you save now probably will not offset the potential appreciation or the fatter monthly payment that could result if interest rates rise.

For example, if a $250,000 home appreciated 5 percent in the next year, could you sock away an extra $12,500 in after-tax savings to counter that gain?  This also does not take into account additional tax savings from the mortgage-interest deduction.  Or, if the market remains flat and mortgage interest rates rise, will you still even be able to qualify for the home of your choice?
Mortgage-interest news has not been positive.  The inflation and energy fears that were in the news two years ago have now taken a backseat to how scarce mortgage money could become~ especially for jumbo loans.

So, if you find the home you’ve always wanted and have your financing lined up, whether it be a primary residence, a second home or investment property, buy it and hold on to it.  Real Estate has been a terrific long-term investment. 

While the market “might have peaked” nationally, housing is local.  Boom markets, where real price growth increases at least 30 percent over three years, have been heavily concentrated in California (21%), the Northeast (18%), and Florida (11%).  And, according to the Federal Deposit Insurance Corp, boom does not necessarily lead to bust, only 17% of all housing booms ended in busts.  Most busts were preceded by a significant stress in local economies, such as loss of jobs.  A bust is defined as a nominal drop of 15% over five years.  Having that type of decline, for that long would require a dramatic event.

Do not take all national housing news and apply it as gospel in each and every neighborhood.  Housing will continue to work well as a long-term investment as long as strong fundamentals are in place.

Scott Wilson
President/Broker
Futura Financial Inc.
626-442-1888

 

 

 

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September 20, 2007
  Nick Hogan In Serious Car Crash
Posted By Don Schweitzer

While on Studio B, criminal defense attorney Don Schweitzer discusses the legal consequences that Hulk Hogan's son, Nick, should face after he lost control of his Toyota Supra while racing and seriously injuring his passenger.

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September 20, 2007
  Britney Spears vs. K-Fed
Posted By Don Schweitzer


Kevin Federline's legal team subpoenas Promises, the drug rehabilitation center where Britney Spears was treated, in an attempt to gain custody of their two children. How can Britney's stay in rehab influence the outcome of the custody battle? Family law attorney Don Schweitzer answers this question on Showbiz Tonight.

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September 20, 2007
  Desperate Search For Missing Boy Scout
Posted By Don Schweitzer


A star student headed to a boy scout meeting never shows up. While on Nancy Grace, criminal defense attorney Don Schweitzer provides legal commentary on this case.

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September 20, 2007
  Caught On Tape: Caregivers Attack Helpless Handicapped Woman
Posted By Don Schweitzer


Two caregivers are caught on tape physically abusing a handicapped woman after a secret camera was installed. While on Nancy Grace, criminal defense attorney Don Schweitzer provides legal commentary on this case.

 

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September 20, 2007
  Queens Woman Kills Father
Posted By Don Schweitzer


A woman from Queens, NY is charged for the death of her abusive father. Criminal defense attorney Don Schweitzer provides legally commentary on this case.

 

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September 20, 2007
  No Prison Party For Nicole Richie Or Lindsay Lohan!
Posted By Don Schweitzer

 

While on Fox & Friends, criminal defense attorney Don Schweitzer provides legal commentary on Nicole Richie's eighty-two minute jail sentence and on the light sentence given to Lindsay Lohan for her DUI.

Click HERE to watch the video.

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September 07, 2007
  O.J. Simpson and His New Trial of the Century
Posted By Donald P. Schweitzer

O.J. Simpson appears to have dug his own grave by freely speaking to the police and to the press about the details of his “sting operation,” which we all know was an armed robbery.  When a person speaks to the police or to the press without the assistance of an attorney, he or she will normally hurt whatever defenses may apply to a case.  But I, for one, will not underestimate O.J.’s ability to dodge, duck, and run ram shod over law enforcement agencies.  It was O.J., after all, who was found not guilty of a brutal double murder in a case where there was ten times the amount of evidence that is normally required to convict.

Let us not forget it was O.J. who Johnny Cochran once characterized as the smartest criminal defendant he ever represented.  And it is O.J. who was a criminal long before he ever stepped on a football field, i.e., he has a lifetime of experience beating the police at their own game.

Has theLas Vegas Police Department finally tackled O.J., when no other law enforcement agency within the country has been able to do so?  Again, I am not that confident.  In my mind this case is less provable than the double homicide, given that the victims in this case have shady backgrounds and at least one of them appears to have second thoughts about cooperating with the prosecution of O.J..  The media has also had a feeding frenzy on some of the key witnesses to the case which always causes problems for the prosecution.

However, there are two things about this case that may lead to a conviction.  First, this is a case in which O.J. will have multiple co-defendants.  As any prosecutor or criminal defense attorney will tell you, a defendant’s chances of beating the rap is diminished where there are co-defendants.  The biggest problem O.J.’s attorney will have is contending with other attorneys who may not be on the same page with O.J.’s defense. And there is always the strong possibility that the defendants will point their fingers at one another during the trial.

In addition, O.J. cannot pay for another dream team, Johnny Cochran and Robert Kardashian are dead, and there is a real possibility that he no longer has friends like Al Cowlings who will go to extreme lengths to help O.J. evade justice.

Stand-by, as you are about to observe, once again, a hall of fame football player and perhaps the most cunning criminal defendant in the history of this country, be the star of another trial of the century.  Whew!!

Written by Donald P. Schweitzer

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