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Concerned About The Real Estate Market? Us Too – Part I – Yahoo Finance

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The current global Covid-19 virus event has upended everyone’s forward expectations related to the US and global economy.&nbsp; Recently, President Trump has announced a 12-month reprieve for homeowners who find themselves without income, or a job, because of the US National Emergency related to the Covid-19 pandemic (source: https://www.npr.org).&nbsp; All of the recent repositionings of the global markets and forward expectations got us thinking about “what happens after 8 to 12+ months?&nbsp; How will the US and global markets attempt a recovery process – if at all?”.&nbsp; Today, we are going to try to start digging into the data that we believe is relevant to the future in terms of hard asset prices (home and other property) and more liquid asset prices (global financial markets).” data-reactid=”12″>The current global Covid-19 virus event has upended everyone’s forward expectations related to the US and global economy.  Recently, President Trump has announced a 12-month reprieve for homeowners who find themselves without income, or a job, because of the US National Emergency related to the Covid-19 pandemic (source: https://www.npr.org).  All of the recent repositionings of the global markets and forward expectations got us thinking about “what happens after 8 to 12+ months?  How will the US and global markets attempt a recovery process – if at all?”.  Today, we are going to try to start digging into the data that we believe is relevant to the future in terms of hard asset prices (home and other property) and more liquid asset prices (global financial markets).

First, we want to preface this article by stating that humans are somewhat predictable in terms of how they will react in emergency or panic situations like this current Covid-19 pandemic.  Initially, they will react to protect what is vital to them (family, assets, safety).  This same thing happened in the 2008-09 credit market crisis market collapse.  Then, after a bit more time, people change their thinking and start to adapt to the situation as it unfolds.  We believe that 30 to 60 days from now, as more information becomes available and consumers globally are more capable of addressing the true longer-term risks of this virus event, a social process will begin to take place where valuations and expectations will adjust to the new perceived outcome (whatever that may be).

The global stock market has collapsed nearly -35% based on our Custom Indexes.  The SPY has collapsed -32.25% since February 23, 2020.  During the 2008-09 Credit Crisis, the SPY collapsed -57.50% before finding a bottom near $67.10.  We believe this initial price decline in the global markets is just the first downside price collapse of what may become many.  Ultimately, we believe the 2015/2016 lows will become the ultimate support for this downside move in the US markets.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="SPY Weekly Chart” data-reactid=”15″>SPY Weekly Chart

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Custom Real Estate Index Weekly Chart” data-reactid=”32″>Custom Real Estate Index Weekly Chart

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Custom European Index Weekly Chart” data-reactid=”49″>Custom European Index Weekly Chart

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The data that is currently being reported and posted is data from January and February 2020.&nbsp; Current expectations for March data look grim (at best).&nbsp; Jobless claims, hours worked, and other economic data for the US and global markets may shock investors and the general public for many months to come.&nbsp; In 2008-09, these types of large economic contraction numbers were not uncommon.&nbsp; We want to prepare all of our friends and followers that we believe the next 6 to 12+ months could somewhat mirror what we saw in 2008-09 – be prepared.” data-reactid=”70″>The data that is currently being reported and posted is data from January and February 2020.  Current expectations for March data look grim (at best).  Jobless claims, hours worked, and other economic data for the US and global markets may shock investors and the general public for many months to come.  In 2008-09, these types of large economic contraction numbers were not uncommon.  We want to prepare all of our friends and followers that we believe the next 6 to 12+ months could somewhat mirror what we saw in 2008-09 – be prepared.

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If our assumptions are correct, the reprieve in Foreclosures and Mortgage repayments for US consumers may not do much to resolve the ultimate problem.  The problem will quickly revolve around the issue of how quickly the US economy can resume somewhat normal functions after the virus event subsides.  We believe the reprieve offered to US consumers will assist in making the data a bit more tolerable for a short period of time, but ultimately any extended disruption in the US and global economy will result in extended risks in hard assets like homes, commercial property, and future valuation expectations.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="(Source: realtytrac.com/statsandtrends/foreclosuretrends/)” data-reactid=”88″>(Source: realtytrac.com/statsandtrends/foreclosuretrends/)

This multi-part research article will dig deeper into the data and expected data to help you prepare for what may be likely in the markets (hard and soft).  Now is the time to prepare for what could become one of the biggest disruptions in the global markets and global society we’ve ever seen.

As a technical analysis and trader since 1997, I have been through a few bull/bear market cycles. I believe I have a good pulse on the market and timing key turning points for short-term swing traders.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Visit my&nbsp;ETF Wealth Building Newsletter&nbsp;and if you like what I offer, and ride my coattails as I navigate these financial markets and build wealth while others lose nearly everything they own during the next financial crisis.” data-reactid=”91″>Visit my ETF Wealth Building Newsletter and if you like what I offer, and ride my coattails as I navigate these financial markets and build wealth while others lose nearly everything they own during the next financial crisis.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Chris Vermeulen
www.TheTechnicalTraders.com
” data-reactid=”92″>Chris Vermeulen
www.TheTechnicalTraders.com

 

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="This article was originally posted on FX Empire” data-reactid=”94″>This article was originally posted on FX Empire

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Real eState

Waterdown home listed for $2M offers 'rural-style living' – Hamilton Spectator

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#HamOntHouseHunt is a regular feature looking at houses for sale in the Hamilton area market. Have a tip? Email us at fhewitt@torstar.ca.

Price $1,999,900



Barn

The fully functional barn located on the property of 694 Centre Rd. in Waterdown.




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Kitchen

The kitchen of 694 Centre Rd. in Waterdown.






Primary Suite

The primary bedroom of 694 Centre Rd. in Waterdown.




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Deck

The back deck of 694 Centre Rd. in Waterdown.




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Former HGTV star slapped with $10 million fine and jail time for real estate fraud – Fortune

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Back when mortgage rates and home prices were more reasonable and manageable, homeowners invested in fixer-upper properties and made them their own. Now these types of projects aren’t as popular. But in the early-to-mid-2010s, HGTV shows including Fixer Upper, Love It or List It, and Flip It to Win It were all the rage as viewers binge-watched dilapidated homes transform into dream properties.

But as it turns out, one former HGTV star’s house-flipping show was masking major real estate fraud. On Tuesday, Charles “Todd” Hill, was sentenced to four years in jail and ordered to pay back nearly $10 million to his victims following his conviction. Los Gatos, Calif.–based Hill, 58, was the star of HGTV show Flip It to Win It, which aired in 2013 and featured Hill and his team purchasing dilapidated homes and fixing them up. Hill then sold them for a profit.

“Some see the huge amount of money in Silicon Valley real estate as a business opportunity,” Santa Clara County District Attorney Jeff Rosen said in a statement. “Others, unfortunately, see it as a criminal opportunity—and we will hold those people strictly accountable.”

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What did Hill do?

According to the indictment shared with Fortune, the accusations against Hill happened between 2012 and 2014, around the time his show (which lasted just one season) began. The indictment shows 10 counts of grand theft of personal property exceeding $950,000; three counts of embezzlement; and one count of diversion of construction funds. Hill could not be reached by Fortune to comment on the indictment, conviction, or sentencing.

Hill was convicted last year of the multiple fraud schemes, including scams that happened before his show aired. This included a Ponzi scheme with evidence showing that Hill had spent laundered money on a rented apartment in San Francisco, hotels, vacations, and luxury cars, according to a press release from the Santa Clara County District Attorney’s Office. HGTV did not respond to requests for comment from Fortune ahead of publication.

“To hide the theft, he created false balance sheets and got loans using fraudulent information,” according to the district attorney’s office. In another case, Hill diverted construction money for personal use. But one of the strangest accounts came from an investor who had poured $250,000 into a property he wanted Hill to remodel. 

Instead, during a tour of the home, the investor “found it to be a burnt-down shell with no work done on it.”

After the district attorney’s investigation, Hill was indicted in November 2019 and in September 2023 admitted his guilt and was convicted by plea of grand theft against all of his victims. He’ll have to pay restitution of more than $9.4 million and serve 10 years on probation.

Victims who spoke at Tuesday’s hearing said they’re still reeling from the financial and professional damages from the fraud, according to the district attorney’s office.

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Botched home sale costs Winnipeg man his right to sell real estate in Manitoba – CBC.ca

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A Winnipeg man’s registration as a real estate salesman has been cancelled after a family vacated their home on a tight deadline for a sale that never went through, then changed brokerages and, months later, got $60,000 less for their house than what they expected when they moved out.

A Manitoba Securities Commission panel found Reginald Wayne Kehler engaged in professional misconduct and conduct unbecoming a registrant when he signed a document on behalf of sellers without their knowledge, reduced the listing price of a home without their approval, and didn’t tell them for nearly a month that a potential buyer hadn’t paid a promised $100,000 deposit.

The sellers, identified as D.R. and P.R. in the panel decision released Wednesday, were awarded $10,394 from the real estate reimbursement fund. Kehler was ordered to pay $12,075 to cover costs of the investigation and hearing.

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The sellers were a military family who had to move in 2020 after the husband was posted to Ottawa.

They chose Kehler as their listing agent, because he had helped them find the home when they moved to Winnipeg in 2018, and they had a good relationship with him, the panel’s decision says.

They  listed their house in May and on June 15, 2020, accepted an offer of $570,000 with possession on July 15. A deposit of $100,000 was to be paid within 72 hours of acceptance of the offer.

Kehler was the salesperson for both the buyer and the sellers — but the sellers say he never told them that.

A form that indicated the sellers knew he was also representing the buyer, dated June 15, 2020, was filed.

While it appeared to be signed with the sellers’ names, they said they didn’t see it until March 2021. One of the two wasn’t even in Winnipeg on June 15.

“Kehler, in his interview with commission staff, acknowledges that the sellers never signed this document — we note that the purported signatures on the form look nothing like the actual signatures of the sellers on other documents,” the decision says.

Kehler told commission staff he’d been authorized to sign on the sellers’ behalf, which they denied. The panel found them more believable.

Once the deal was made, the sellers, believing they had just a month before the buyer would take possession of their home, quickly packed up and prepared to move with their two young children.

Buyer never made deposit

Meanwhile, the buyer hadn’t made the $100,000 deposit before the deadline — but Kehler didn’t tell the sellers.

Kehler told commission staff that was because he thought the deposit was still coming, and he didn’t want to cause more stress for the sellers.

On July 10, just five days before the buyer was to take possession and the day before the family was leaving Winnipeg, the sellers spoke to Kehler — but he still didn’t tell them the deposit hadn’t been paid.

Kehler “said everything was fine,” according to the decision.

It wasn’t until the evening of July 13, when the family arrived in Toronto on their way to Ottawa and just 36 hours before the scheduled closing, that Kehler told them he’d never received the deposit.

Eventually, they received $4,000 of the deposit, but the sale of the house never closed. The sellers scrambled to extend the insurance on their old home and make sure they continued to pay the utility bills, the decision says.

Home relisted

Kehler then recommended they relist the home, and it went back on the market at $574,900.

On Aug. 10, 2020, Kehler recommended the price be reduced to $569,900. Instead, the seller said he should reduce the price to $567,900.

But when the seller looked at the online listing on Aug. 22, it was listed at $564,900.

The sellers also asked Kehler about maintaining the property, since they were no longer in Winnipeg. He agreed he would, but friends ended up going and mowing the lawn, the decision says.

The sellers asked Kehler and his brokerage about what could be done to “make things right,” the decision says, but they never received any responses.

On Sept. 5, they hired a new brokerage to sell the home. Under the new real estate salesman, they accepted an offer on Dec. 13, and closed the deal Jan. 2, 2021, receiving $507,500 for the home.

Kehler’s actions were “contrary to the best interests of the public” and undermined “public confidence in the real estate industry,” the decision says.

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