Terramar

Things are going very well with their releases: ALL GONE on the first day.

Phase 5: (Silver Ivy Lane)

Lot 16: 804K
Lot 17: 785K
Lot 18: 751K
Lot 19: 773K
Lot 20: 806K
Lot 58: 756K
Lot 59: 782K

Bank of America Modified 0.6 million Loans Since Jan 2008

BOA has completed about 56,400 permanent mortgage modifications under Home Affordable Modification Program (HAMP), and has now completed a total of more than 600,000 modifications through all available programs since January 2008-- Among them, 115,000 were converted this year.

In the first quarter of this year, Bank of America loaned $70 billion to 320,000 customers to purchase a home or refinance their existing first mortgage.

Thus we can see that BOA has modified about 2 quaters worth of loans.

John Paulson bullish on housing

CNBC reports that John Paulson, who made $15B by betting against housing in 2008, just held a conference call with investors late April. He's predicting a V-shaped recovery and a major housing recovery. Specifically, he sees prices rising 3-5% in 2010 and 8-12% in 2011.But it is notmuch of a shock. Paulson recently launched a housing recovery fund through which he's making significant bets on rising prices in the wests. He is also betting big on gold.

BTW, Warren Buffett said earlier this week, the economy has begun to show real strength over the last couple months, and consumers who can afford to are spending more!

一幅关于中国房地产的漫画

AVOID A HOME REMODELING NIGHTMARE

Under state law, the down payment for home-improvement projects cannot exceed $1,000 or 10% of the price, whichever is less.

The rest of their saga is documented on Jody Costello's website, ContractorsFromHell.com, which she created in 2000 to provide information and resources on home remodeling, hiring contractors and homeowners' rights.

"People assume if the contractor is licensed, that's enough," said Costello, who believes it is homeowners' job to ensure that their rights are protected.

Industry watchdogs agree that checking the license is only a baby step for homeowners embarking on a remodeling project. If you want a successful outcome, you must assume responsibility for making sure that the contractor is competent and fair and that the work is done correctly -- right down to the brand, style and finish of that new kitchen faucet.

"Homeowners have to put on their detective hats," said Costello, whose website gets 10,000 to 15,000 hits a month. She recommends checking court records for any litigation involving a prospective contractor, as well as checking out his liability insurance. "Contact the insurance company and get the coverage dates," she said. As extreme as it may sound, she and others recommend actually reading the policy, a feat for those homeowners who can't even wade through their own policies.

But there is good reason to be cautious. The Contractors State License Board investigates more than 20,000 complaints each year against contractors, about a quarter of whom are unlicensed.

Potential for trouble

The board files 400 to 500 "accusations" annually against licensed contractors, which can result in disciplinary actions including possible license revocation.

Arron Latt, managing partner of Encino-based Project Management Collaborative, is the guy who often gets the call after a building project spirals into trouble and lands in court.

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