Alexis McGee
![Alexis McGee](/assets/img/authors/unknown.jpg)
Alexis McGee
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Our mission has always been to help investors create win-win scenarios that benefit both the troubled homeowner and the investor. The owner in distress saves some equity for a new start, and the investor realizes a profit on the resale of the home. That's far better than having the owner lose everything in an auction on the courthouse steps.
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In Washington D.C., prices were flat over the last 30 days, but down 5.4 percent over the last 90 days.
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In Delaware, for example, severe job loss is expected as a result of Bank of America's acquisition of MBNA. That will put many households in financial distress.
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As these markets cool down, we'll begin to see mortgage defaults increase in 2006.
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A great many risky loans were issued in California as home prices reached the stratosphere. Interest only and option ARMs were used by many buyers to qualify for homes they could not otherwise afford. That means trouble in the near and intermediate future.
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The median home price in Boston fell 4.5% over the last three months. In Washington D.C. prices were flat over the last 30 days, but down 5.4% over the last 90 days. Realtors outside Manhattan in New York City report a shift to a buyer's market.
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While the economy is strengthening overall, problems persist in manufacturing, and many of these states are dependent on that sector.
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We also train our investor clients to develop win-win scenarios that benefit both the homeowner in distress and the investor. That way the troubled homeowner can sell their way out of foreclosure and conserve some equity for a new start, and the investor can realize a reasonable profit on resale of the home. That's much better than seeing the owner lose everything in an auction on the courthouse steps.
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We're beginning to see price declines in most eastern markets in the fourth quarter of 2005.
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We're seeing reduced price appreciation in the Pacific Northwest, and Alaska although population growth and job growth there remain strong.
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We're seeing shrinking builder profit margins, and more and more incentives being offered to attract buyers. That's an indication of a shift to a buyers' market.