Santa Clarita Short Sales: Wall Street Firms Strategically Walking Away from their upside down properties

Broker/Short Sale Consultant Duke Hogstrom

Santa Clarita Short Sales: Wall Street Firms Strategically Walking Away from their upside down properties

Santa Clarita CA – <a href=”http://www.gainesvilleshortsaleblog.com/wp-content/uploads/2010/11/wall-street.jpg“><img onload=”icp.messageComp.image.pasteLoadHandler(this)” title=”wall-street” src=”http://www.gainesvilleshortsaleblog.com/wp-content/uploads/2010/11/wall-street.jpg” alt=”” width=”425″ height=”282″ /></a>Wall Street Fat Cats say homeowners shouldn’t walk away from upside down homes. Why? “If you do it, then everyone will start doing it”, they say. “It isn’t moral. People should own up to their commitments.

People should be responsible. This is more than just a contract. It’s what holds the entire economy together.” However, those same rules don’t seem to apply to the Wall Street Bankers.

<a href=”http://stopforeclosure-santaclarita.info/short-sale.html“>Discover how other sellers successfully did a short sale and request a free consultation by clicking here.</a>

<strong>Turns out Wall Street firm Morgan Stanley strategically defaulted on their upside down properties.</strong> Here is the article from Bloomberg: <a href=”http://www.bloomberg.com/apps/news?pid=newsarchive&amp;sid=aLYZhnfoXOSk“>Morgan Stanley to Give Up 5 San Francisco Towers Bought at Peak</a>.

Here is what the article says<em>: “Morgan Stanley, the securities firm that spent more than $8 billion on commercial property in 2007, plans to relinquish five San Francisco office buildings to its lender two years after purchasing them from Blackstone Group LP near the top of the market.</em>

<em>The bank has been negotiating an “orderly transfer” of the towers since earlier this year, Alyson Barnes, a Morgan Stanley spokeswoman, said yesterday in a telephone interview. AREA Property Partners will take over the buildings. Barnes declined to say when the transfer will occur.</em>

<em>“This isn’t a default or foreclosure situation,” Barnes said. “We are going to give them the properties to get out of the loan obligation.</em>

<em>The Morgan Stanley buildings may have lost as much as 50 percent since the purchase, he estimated. </em>

<em>Morgan Stanley bought 10 San Francisco buildings in the city’s financial district as part of a $2.5 billion purchase from Blackstone Group in May 2007. The buildings were formerly owned by billionaire investor Sam Zell’s Equity Office Properties and acquired by Blackstone in its $39 billion buyout of the real estate firm earlier that year. </em>

<em>Morgan Stanley, based in New York, was the biggest property investor among Wall Street firms at the time of the purchase. The transaction made the company one of the largest office landlords in San Francisco, with the purchase giving the bank 3.9 million square feet of office space there.”</em>

Pretty interesting. <strong>If an ordinary guy walks away from his upside down home, then that makes him a immoral deadbeat. </strong>”He’s working the system”, the Wall Street people say.

But, to them it’s a moral business decision. “We’re doing what’s best for our stockholders”, they say. “That’s our obligation and duty.”

Here is my question. Doesn’t a parent have an obligation to do what is best for the stockholders in their family? Let’s say that they can save hundreds of thousands of dollars in mortgage payments.

As a result, little Timmy will be able to attend college when he grows up. Isn’t it their moral obligation to do what is best for the stockholders in the family?

<strong>Please let me know what you think.</strong> Put your comments agreeing or disagreeing below.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at <a href=”mailto:duke@erscv.com“>duke@erscv.com</a>. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at (661) 313-7393.

Discover how other sellers successfully completed a short sale and request a free consultation by <a href=”http://stopforeclosure-santaclarita.info/short-sale.html“>clicking here</a>.

Thinking about a loan modification? Our Santa Clarita Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. <a href=”http://stopforeclosure-santaclarita.info/loan-modification-secrets.html“>Click here to request a copy.</a>

Thanks for reading this, Frank Hogstrom.

Frank is a Real Estate Broker of Record at EXIT Realty,SCV.

Phone: (661) 313-7393. <a href=”mailto:duke@erscv.com“>duke@erscv.com</a>.

All your questions answered

View My homes for sale at <a href=”http://thedukegroupscv.com“>thedukegroupscv.com</a>.

Frank Hogstrom specializes in loan modification assistance and short sales in Santa Clarita California. Santa Clarita Loan Modification Help, Santa Clarita Short Sales, Santa Clarita Short Sale Realtor Short Sale Realtor. Santa Clarita CA Short Sales. Santa Clarita Realtor.
http://www.hotspotscv.com/client/exitrealestate/

http://www.hotspotla.com
Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Hogstrom’s personal views and do not reflect the views of EXIT Realty,SCV.  This information on Santa Clarita Short Sales: Wall Street Firms Strategically Walking Away from their upside down properties is provided as a co

Duke Hogstrom Exit Realty SCV Broker of Record 661-313-7393 www.thedukegroupscv.com

Duke Hogstrom
Exit Realty SCV
Broker of Record
661-313-7393
http://www.thedukegroupscv.com

Does this spark your interest?
Give me a call…
Exit Realty SCV
Broker of Record
661-313-7393
http://www.thedukegroupscv.com

By:Duke Hogstrom

See More

Real Estate SCV | Pending Home Sales on an Upswing | Duke Hogstrom | Exit Realty SCV

Visit my website, www.thedukegroupscv.com

Washington, May 04, 2010

Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1 percent above March 2009 when it was 85.0; this follows an 8.3 percent increase in February. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.

Pending Home Sales on an Upswing

http://www.realtor.org

content

Duke Hogstrom
Exit Realty SCV
Broker Associate
661-313-7393
http://www.thedukegroupscv.com
Real Estate SCV

Duke Hogstrom | Exit Realty SCV | Broker Associate |Real Estate SCV

Duke Hogstrom
Exit Realty SCV
Broker Associate
661-313-7393
www.thedukegroupscv.com
Real Estate SCV

C.A.R. releases March sales and price report

http://www.car.org

Home sales increased 2.5 percent in March in California compared with the same period a year ago, while the median price of an existing home rose 20.8 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported.

Duke Hogstrom | Exit Realty SCV | Broker Associate

Duke Hogstrom
Exit Realty SCV
Broker Associate
661-313-7393
http://www.thedukegroupscv.com
Real Estate SCV

 

Santa Clarita Homes For Sale Frank “DUKE” Hogstrom

http://www.thedukegroupscv.com

Specializing in Santa Clarita homes for sale and the real estate market, you have found your realtor resource for buying and selling your next house in the Santa Clarita area. With expertise in Real Estate …

SCV Real Estate | The California foreclosure crisis appears to be abating

California foreclosures, subprime loans – latimes.com

http://www.latimes.com

The California foreclosure crisis appears to be abating, new data show, as the federal government and big lenders step up efforts to keep troubled borrowers in their homes.

Duke Hogstrom
Exit Realty SCV
Broker Associate
661-313-7393
www.thedukegroupscv.com

Real Estate SCV

Real Estate SCV | Housing construction points to market recovery – Yahoo! Finance

Duke Hogstrom
Exit Realty SCV
Broker Associate
661-313-7393
http://www.thedukegroupscv.com
Real Estate SCV

 

Housing construction points to market recovery – Yahoo! Finance

finance.yahoo.com

WASHINGTON (AP) — There were more signs of a moderate housing recovery Friday as the government reported an increase in construction and building permits.The Commerce

Real Estate SCV | EXIT Realty SCV is looking for Agents

EXIT Realty SCV is looking for agents – New & Experienced Licensees | Valencia | eBay Classifieds (K

losangeles.ebayclassifieds.com

Change can be scary, especially in a new career. At EXIT Realty SCV we are committed to your success by providing ongoing training to ensure that you have

www.exitrealtyscv.com/careers

www.thedukegroupscv.com

Frank “Duke” Hogstrom

Broker Associate #01110923
Sales Manager,Trainer
661-313-7393 Cell

Real Estate SCV | Foreclosure process slows in California | Do a short sale before its to late!!!

 

Foreclosure process slows in California | Inman News

http://www.inman.com

It took banks 27.9 percent longer, or 225 days, to foreclose on a property in California last month than it did in March 2009, and 0.45 percent longer than it did in February, according to data tracked by foreclosure data company ForeclosureRadar.com.

 

To discuss your options call:

Duke Hogstrom – Exit Realty SCV, Broker Associate – 661-313-7393.

www.thedukegroupscv.com

Real Estate SCV | With caution, Americans still want a house | thedukegroup SCV

 

Remove

Duke Hogstrom Duke Hogstrom – Exit Realty SCV, Broker Associate – 661-313-7393

 

With caution, Americans still want a house

money.cnn.com

Despite the shaky housing and uncertain economy, a majority of Americans still prefer to own a home, according to a survey released Tuesday. Visit my site for more info, www.thedukegroupscv.com