Archive for December 31st, 2006

Sellers Say, "Make Me a Millionaire" in Gilbert, AZ

  • Published: December 31st, 2006
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I love living in Gilbert, AZ- it’s a great community.  Let’s face it though, Gilbert– known as the former "Hay Capital" of the U.S.– hasn’t ever been able to command the prices of say, Paradise Valley.  Nevertheless, in spite of the recent cooling of the housing market, we have a number of sellers here who think their house is going to make them a millionaire- and the odds aren’t looking good. I checked with one of our very accomodating sources, who told us about the million dollar market in Gilbert.  Since 2001, a total of 56 homes have sold in…
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Fannie at Year End

The Safety Net That Never Was – Part XXII On Friday, BusinessWeek did a brief summary [1] of Fannie Mae’s 2006. Stock rose about 23% Filed its first earnings statement since late 2004 Was fined $400 million in May, one of the largest civil penalties ever in an accounting fraud case spent $1 billion to fix its accounting Restated past earnings in December, wiping out $6.3 billion in profit That’s a big deal (company posted "only" $2.13 billion profit in 2005) But … it was less than the expected loss of $10.8 billion   That was about it for the…
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