Want to know – Where is the MONEY?

pwb123If you aren’t a millionaire (yet) but you’d like to at least live near some, I’m happy to tell you that there’s a thoroughly useless report that may help you. It’s the “Where do all the millionaires live?” report. So if you want to pick up stake and get close to money, here’s the list for you.

Some of the top ones are Maryland with 7.7% millionaires. I’m assuming that’s from all the politicians and lobbyists. Not that there’s anything wrong with that.

Another top spot is New Hampshire at 6.48% of the general population. With all those sprawling estates in the mountains it might be hard to get anywhere near them.

Moving out West we’ve got California with 6.04%. It’s a large state so I think you’ll find the concentration higher in one really specific spot, if you catch my drift.

Gracing the North you can see 5.74% in Washington and 5.56% in Minnesota. I guess they can afford to stay out of the cold.

Here’s where I think you can learn a good lesson. No one thinks living “close” to a millionaire does any good. Quite the opposite. You need to look for opportunity wherever you can, on fresh ground. Look around you can you’ll see it. Don’t go chasing the people who have money – chase the money!

Hottest and Coldest! Real Estate Market Trends

realestate12If you want to know where the money goes in this kind of real estate market, you need to look in two places: the best and the worst. It’s that simple … and that complicated.

Basically, you can find great deals in a sure market. Find the most popular areas and make a sure fire offer. The hottest neighborhoods in terms of popularity were just released so you’ll know where to start looking. Cities like San Francisco, Phoenix, Atlanta, Las Vegas, and Seattle all show signs of being very promising.

Or you can find the cities with the worst luck. You’ll also find deals there too. You might have trouble of a different kind than in the popular places but the payout can be huge.

Really it’s a question of your perspective. Glass half full or glass half empty? Do you see challenges or do you see opportunities? Look around you and try to figure out what it is you see. And how you see it. I never stop looking at what I’m doing. Wherever I am I’m always trying to spot the best deal, find the best future for investors and homeowners, and do my part to pull this economy up.

I trust you can do the same too.

Fannie Mae Made a Fortune With Your Money

phoenix real estateI just read a heart warming story about a struggling company that worked hard, crawled back from the edge, and made a record in sales. This kind of determination is what makes America great, right?

Oh wait, just a few things you should know to help put the story in context:

1) The company took ridiculous chances and mishandled everything.

2) The company recovered with everyone else’s hard earned money since they didn’t have any of their own.

3) The company isn’t repaying a dime to its creditors.

4) The company’s latest success has absolutely nothing to do with its hard work.

That doesn’t sound much like the American dream any more, but maybe that’s just how things go.

I’m talking of course about Fannie Mae. This GSE made a real mess of its books during the housing crisis, begged for government handouts, then claimed it was back on track because of

– lower delinquencies (all the foreclosures happened already, right?)

– home prices rising (no thanks to them)

– and higher sales of Fannie Mae properties (they raked in $17.2 billion NET in 2012).

Oh, and $10 billion from Bank of America. Come to think of it, that’s our money too, isn’t it? So it’s just one big circle. Or more to the point, it’s a highway that goes in a circle with only an on ramp for our cash to get in the mix.

I’m really annoyed about this one. Anyone else have something to say?

Housing Market Predictions

housing-market-predictionsLet’s just settle things right off the bat: NO ONE can predict the future. If you still think that someone is going to tell you the winning lottery numbers or future natural disasters then you’ve got to go back to kindergarten. And yet, we as a species are so caught up in trying to figure out the future that we jump at almost anyone who claims to know something. Why is that? What are we hoping to see?

We spend millions following “expert advice” though as high and mighty as they sound they really can’t back up what they’re saying. Nowhere is this more true than in the housing market. There are a million different factors to consider before even beginning to guess which way the market is going to swing. Yet every guy that has even a sliver of the picture will shoot his mouth off with absolute certainty about what the future holds.

Take it from me, no one can see the curve balls coming that life has in store for us. You’ve got to be smart and make good decisions but don’t even think you’ve seen all the angles. I’ve been reading the “Guide to the 2013 Residential Housing Market” (or something like that) and it really tries its best to sound completely authoritative. Toss around policies like QE3 and FOMC, the NAR and FHFA and people will think you sit in every boardroom in the country 24/7.

Well guess what. They don’t. So you listen to the people you trust, keep your eyes open, and make smart decisions. Diversify. Take (calculated) risks. And do something worthwhile. And always be a servant. I’m going to keep hammering that point home until you listen.

Do you have words of wisdom others can live by? Please share them below.