In 2008, the U.S. housing market lost over 3 trillion dollars in value ? with an overall decline of over 11% of the average house price and over 2.3 million homes going into foreclosure. And things aren't looking much better so far in 2009.
As a matter of fact, the homeowners who thought they actually might make it through the current housing crash without big losses are waking up to reality. In an article published on February 2nd, 2009 in ?The Los Angeles Times,? it turns out upper-level Los Angeles suburbs such as Santa Monica, Malibu and Beverly Hills were finally hit with huge price drops in the last months of 2008 ? losing anywhere from 26% to 30% of their value in an incredibly short time period.
Why the huge and rapid drop? Because, believe it or not, prices in these areas were still soaring in early 2008, even as the rest of the country began racking up record foreclosures. And residents thought they were bulletproof.
?I didn't believe it until the end,? said Shelley Conn, who put her Santa Monica home on the market for an asking price of $2.3 million. She was shocked to have to accept an offer of $1.9 million. In her neighborhood, nobody ever dreamt that a house would ever sell for less than $2 million.
These properties? prices held up longer because most of them didn't have the kind of subprime financing which fueled the beginning of the housing crisis. But with the entire housing market in freefall, eventually even the big mansions in the richest areas weren't immune. Beverly Hills house prices fell by an average of $1 million last year.
Financial forecasters had been taking a lot of heat for saying it was a matter of ?when? not ?if? prices fell in these neighborhoods. It was a simple case of ?shoot the messenger? ? because when a king-sized recession like this hits, people can't afford to ?move up? to the richer zip codes ? and eventually supply outstrips demand. The more affluent areas of San Francisco and other major cities across America are suddenly facing the same dire situation.
What does this mean to the REO Broker? Simple. More and more high level REO property listings will begin to appear ? which means more and more profit for REO Agents who know how to take advantage of this growing market. It's unfortunate this situation has to exist, but, unless these properties are sold, they'll fall into disrepair and bring down the entire value of the neighborhood.
Copyright (c) 2009 Frank Patrick
Life Of Rich And Famous
Colourful ties can certainly catch the eye of many fashion savy people. The typical, formal dark suit can be complemented with the right blend of colourful silk tie, adding a touch of uniqueness to what would elsewhere be considered a boring stiff suit. What's important is for the colours to be in perfect blend and harmony with each other. Colourful ties are the in-thing in the fashion industry right now. Indeed there are even celebrities all over Hollywood who prefer to wear colourful ties than the ordinary ones. There is nothing better than an array of bright colours to make you stand out for the paparazzi when you stand on that long red Premier carpet. Likewise television presenters, and even characters in TV shows have been seen sporting fashionable ties.
William Shatner, for one, plays a character on the American hit TV show Boston Legal. On this show, Shatner's character, Denny Crane, is famous for the colourful ties that he always wears. Crane is even seen wearing designer ties of loud colours, such as bright orange and bright red.
Worn by celebrities such as the UK's Jonathan Ross, and newsreader John Snow, Duchamp ties are very prominent in the fashion industry and indeed bright colors are the trademark of Duchamp ties, and these luxury items can boast of being made by hand all the way from England. These ties are also thick much quality is guaranteed here. One such popular design is the woven Jacquard silk hand-made necktie. This tie is approximately 58 inches in length and 3 ? inches in width. The tie is designed with half circles all over it, which are colored black, pink, yellow-gold, fuschia, burgundy, and blue.
Another popular tie is the Lilac Sky Blue Purple Floral. The tie comes with intricate floral designs in shades of blue and purple. The tie is still 58 inches in length and 3 ? inches in width. Hand-made in England gives it its characteristic thickness.
Another brand that specializes in colourful ties is from designer to the stars; Richard James. These Savile Row made ties have certainly made a strong name for themselves in the fashion industry because of the understated boldness that is characteristic of the ties. Indeed Richard James ties have a very nice way of showing these boldness by displaying diagonal lines of bold colors against a muted background. This way, the diagonals would be made to stand out against the background without being too loud and bright to the sight. The ties themselves are hand-made from England as well, using exclusive fabrics from Richard James? very own collection. Being made from silk of optimum quality, Richard James? ties are very capable of giving users many years of superb knottage.
The spring and summer 2008 collection of Richard James? ties feature a lot of diagonal designs. One of these is the navy 4-colour diagonal stripe. Another popular choice is the gold-lilac diagonal stripe. Both of these ties come in 100% silk. These ties can be easily bought in department stores and online stores.
Finally Robert Charles, a New Zealand based silk tie designer is presents an amazing range of colourful foral ties. Based on collections of roses, gerbera, sunflowers and other colourful flowers, Robert Charles ties are perfect for formal events where subtle detail and pattern can make one stand out from the crowd and become a talking point for all.
Both Frank Patrick & Paul Beckett are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Frank Patrick has sinced written about articles on various topics from Real Estate, Finances. Frank Patrick is the founder of ASREOS. ASREOS (the American Society of REO Specialists) is the first professional association for REO Agents created by REO professionals and contains numerous resources and tools to maximize REO opportunities and find RE. Frank Patrick's top article generates over 18100 views. to your Favourites.
Paul Beckett has sinced written about articles on various topics from Modelling, Social Issues and Modelling. Paul Beckett is a retailer who specialises in for men. Visit KJ Beckett in Bath, England to view designer. Paul Beckett's top article generates over 14800 views. to your Favourites.
Buy A Good Used Car These questions should be geared to discover why the Truck is being sold, how long they have had the Truck and how often they have had it serviced