Category Real Estate

Chase To Purchase WaMu

Washington Mutual

Earlier this week, the FDIC (Federal Deposit Insurance Corporation) stepped in to bail out Washington Mutual, which was failing as a result of nearly $20 billion in mortgage losses, partially as a result of the sub prime lending crisis.  Parts of the Seattle based bank are expected to be purchased by JP Morgan Chase, one of only five banks that had considered placing a bid for the now defunct organization.  Washington Mutual put itself up for sale about a week ago.

WaMu was under some pressure to secure a deal from creditors and ratings companies.  It’s sinking stock value and decreasing credit ratings would only cause more issues in the long run...

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Open House – 661 Moore, Tonawanda


I know it’s a little late to post this, but I’m hosting an open house Sunday (tomorrow) from 1 to 3 at 661 Moore Ave in Tonawanda.  Some fo you may recognize this as my current residence.  This 3 bedroom 1.5 bath home features spacious living and dining rooms, as well as a finished basement.  This unit also has an above ground pool and a great patio with an awning to relax and enjoy the summer evenings.  I certainly have!  Once again, the open house is Sunday (tomorrow) from 1 to 3.

Hope to see you there!

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Severance For Mortgage Execs?

Recently, Newsweek reported that the exiting CEOs of Freddie Mac and Fannie Mae may receive up to $24 million in severance packages from their respective organizations.  This raises the question, WHY?  It simply doesn’t make sense that these two characters should be receiving millions of dollars for their failures in management.

The government is in the process of bailing out both Freddie Mac and Fannie Mae, in an attempt to help salvage the already struggling home finance and mortgage markets.  This move is estimated to cost the government (aka the tax payers) $300 billion, assuming a 5% loss of their loans.  Some consider this a conservative estimate while others think it is on par.

The mismanagement of the two CEOs, Richard Syron of Freddie Mac, and Daniel Mudd of Fannie Mae, has le...

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Open House – 345 Terrace, Depew, NY


Hello All!

I’ll be hosting an open house this Sunday at 345 Terrace in Depew, NY.  This magnificent 5 bedroom 3 bath colonial style is situated on a corner lot.  The stunning kitchen features recessed lighting.  The enclosed back porch with deck overlooks the above ground pool and charming landscaping.  This home also includes an in-law unit.  Once again, the open house is Sunday from 1pm to 3pm.

Hope to see you there!

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I passed my real estate sales exam!  Now I just need to wait for the confirmation to come in the mail, since I checked online, and I can apply for my license!

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Classes Done!

On Tuesday I finished my real estate classes and took my in class final.  I passed with flying colors!!  Now all I need to do is take my state test, which is supposed to be easier than the in class final.  After that it’s just a matter of sending in some paperwork and waiting for the state to send me my license!

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