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Eddie Lampert: Housing Set For Comeback
Hedge fund chief Eddie Lampert says housing is ripe for a turnaround.
The billionaire CEO of the $11.6 billion fund ESL Investments has been buying into home builders, mortgage firms, and a home improvement chains in moves designed to reap the profits of what Lampert sees as the imminent housing comeback.
ESL, which owns a 50 percent stake in Sears Holdings Corp., recently purchased shares of Centex Corp., and KB Home, each stake worth a little more than $10 million.
ESL has also bought positions in CIT Group, a subprime home and commercial lending firm, and PHH Corp., a mortgage and mortgage services company.
Lampert's share of CIT is worth $35.5 million, and PHH is worth $25.2 million.
Home Depot is Lampert's biggest bet on a housing upturn. The fund currently holds shares worth $590 million, reflecting recent purchases of 6 million additional shares of the home improvement chain, bringing his total stake to 22.7 million shares.
Friday, July 4, 2008
Wednesday, February 13, 2008
THE TIME TO BUY IS NOW
Having had the pleasure of living and working in Florida for over 16 years as a Realtor/Broker and Business Broker, I can honestly say that the time has NEVER been better to purchase a home than NOW. For those of you who are coming from overseas you are blessed with a great exchange rate which, if coming from the UK, is in the region of $2 to the pound.
Prices have dropped over the last year and there are many BARGAINS to be had.
I am sure that many of you are aware that the Stock Market people make their money buy buying LOW and selling HIGH, well the same thing applies to Real Estate. We have some wonderful deals available for investors of all sizes, whether you are looking for a small condo or luxury home, we can help you get in at the right price.
Over the last week or so I have come across luxury homes which have been priced well over the $1 million range only a few months ago, now on offer for $750,000. Such homes in gated communities highly desireable.
People have the impression that they are best off in purchasing FORECLOSURES, not necessarily so. Consider this. You find a bank repossession, we put in an offer, the bank tells you it will take them 30 to 60 days to decide. THEY ARE WAITING TO SEE WHAT OTHER OFFERS COME ALONG, and they will not tell you what offers are on the table. At the end of the 60 days you find you are asked for your final and best offer and there may be 5 or 6 other offers. Yours is rejected, and so you start all over again.
NOW, consider this, we go out and find a house you like, present the seller, who may be in pre-foreclosure with an offer, they are far more willing to negotiate with you as they have something at stake to lose as against the bank who have already repossessed, taken the profit for themselves and can sit and wait until they get a deal they like.
IF you are interested in making money in Real Estate, BUY NOW, purchase within your means, and let us help you find a home which will have equity built in. Interest rates have been reduced recently and are set to drop again, so take advantage of what is on offer and GO MAKE SOME MONEY FOR YOURSELF. We will do our best to make sure you get the best deal available.
Prices have dropped over the last year and there are many BARGAINS to be had.
I am sure that many of you are aware that the Stock Market people make their money buy buying LOW and selling HIGH, well the same thing applies to Real Estate. We have some wonderful deals available for investors of all sizes, whether you are looking for a small condo or luxury home, we can help you get in at the right price.
Over the last week or so I have come across luxury homes which have been priced well over the $1 million range only a few months ago, now on offer for $750,000. Such homes in gated communities highly desireable.
People have the impression that they are best off in purchasing FORECLOSURES, not necessarily so. Consider this. You find a bank repossession, we put in an offer, the bank tells you it will take them 30 to 60 days to decide. THEY ARE WAITING TO SEE WHAT OTHER OFFERS COME ALONG, and they will not tell you what offers are on the table. At the end of the 60 days you find you are asked for your final and best offer and there may be 5 or 6 other offers. Yours is rejected, and so you start all over again.
NOW, consider this, we go out and find a house you like, present the seller, who may be in pre-foreclosure with an offer, they are far more willing to negotiate with you as they have something at stake to lose as against the bank who have already repossessed, taken the profit for themselves and can sit and wait until they get a deal they like.
IF you are interested in making money in Real Estate, BUY NOW, purchase within your means, and let us help you find a home which will have equity built in. Interest rates have been reduced recently and are set to drop again, so take advantage of what is on offer and GO MAKE SOME MONEY FOR YOURSELF. We will do our best to make sure you get the best deal available.
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