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Author Archives: Lane Bailey

March/April Gwinnett Market Report posted…

… on GarageHomesUSA.  Wander over and take a look.  Here is a direct link to the report.

I was hoping that we would be seeing stronger indicators of the housing recovery at this point… we’ll have to wait for the final April numbers.

Wander over and take a look at the report.

Sunday’s BMW Short Films

I don’t know if you remember these from a few years ago, but BMW sponsored a series of short films, featuring their cars, and directed by Hollywood’s heavy hitters.

The first feature today, The Hire – Hostage, was directed by John Woo.

This was one of my favorites, along with “Star” which had Madonna and was directed by Guy Ritchie… I put that on my A/R blog yesterday. I also featured Ambush, directed by John Frankenheimer.

Beat The Devil was notable for the James Brown. It was directed by Tony Scott, and also features Gary Oldman.  Also stick around for Marilyn Manson at the end…

I hope you enjoyed these. I re-connected with them by searching BMW Short Films. There are several more.

GBR Mud 4 Blood Drive

Justin's Taco ToyIf you are a blood donor in the Atlanta area… or if you want to be, the GBR 4WD Club is hosting its 5th Annual Mud 4 Blood Drive on May 10th at Bass Pro Shops.  M4B has worked its way up to being one of LifeSouth‘s biggest one day drives of the year, and this year will be no exception.

The GBR hosts this event each year in conjunction with almost all of the 4WD clubs in the Atlanta area.  In addition to the blood drive, the event features a GIANT raffle.  Area restaurants donate food certificates and 4WD vendors donate all sorts of cool products.  In 2007, the raffle and donor goodie bags delivered $4000 in prizes and thank you’s.  This year’s event looks to eclipse that.  Pit Bull Tires is giving away a set of 37″ tires, 4WD Parts/Performance is giving away a winch.  Sonic Drive-Ins is giving away 90 hamburgers.  And that is just the tip of the iceberg.  Here is a fairly complete list.

TStock and... nothere is also a silent auction of cool prizes and parts.  This year’s silent auction will be benefiting Rescue Tellico.   In previous years there has been ferocious bidding for some incredible cheesecakes…  Don’t miss those.

Of course, there are kid’s games and plenty to see.  New this year is a live band.  Serene will be playing throughout the day.

And then there is the truck show.  No polishing cloths.  Not a wax mitt in sight.  These are hardcore trail rigs.  Mud and chunks can come off.  Some look like a little league team took batting practice on them, others are incredibly stock looking, but with owners that seem oblivious to the damage they could do to their vehicles.

Of course there are sponsor and crowd favorite awards given out, but the ones everyone waits for are the “unique” awards.  They happen on the fly, and could be for things like “The Most Interesting Use of a Windshield Wiper Arm.”

So, come out to Bass Pro Shops at Discover Mills in Gwinnett County, On Sugarloaf Parkway at I-85.  The event will run from 9:00 to 5:00, and the truck show will be from 10:00 to 3:00.  For more information, feel free to visit Mud4Blood.org.

GarageHomesUSA is a sponsor, and I will be on-site all day long.  Any of the GBR folks will know where to find me.  They will be in blue GBR T-shirts for the event.  Stop by, say hello… give some blood.

30 car garage? ppffftt!

To paraphrase a cereal commercial… That’s nut ‘n honey.

copyright Hirsch Bedner AssociatesThe bar now stands at 150 cars… Maybe 175. And yes, that is the part that made me call out to my wife and pause the TV… “Hey honey… this place has a 150-175 car garage… guess how much it is?”

$2,000,000,000… that is not a misprint. $2 Billion. Just to put a little perspective on this, it is easily 10x the next closest property that is for sale… And the price is “reputed to be approaching $2B.”

Forbes has a story with pics and video.

There are a few unique things… ($2B better buy more than a few!). But, part of the design that is different is that each floor is unique. Materials, designs, and themes evolve as one moves through the house.

And the garage will hold at least 150 cars!

Biggest no brainer in the history of Earth

If you are in the Atlanta area… or even if you aren’t… you’ve probably heard the commercials.  His tagline is “It’s the biggest no-brainer in the history of Earth.”  Usually he starts with some obvious pronouncements… and then he launches into something else.

But a recurring theme is “… no closing costs.  We don’t roll them into the cost of the loan, we pay them…”  There is one little problem.  He fails to mention that the consumer DOES pay the closing costs… in fact, they pay WAY more than the closing costs.  They pay a bit of that every month.

How you ask?

With a higher interest rate.  The broker makes a better spread by charging a higher rate.  So, he makes his money on the front end because he can sell the loan for more money.  If you keep the loan for a while, that extra little bit of interest rate can cost several times the original closing costs.

My friend Ken Cook at Novation Mortgage ran across a Cease and Desist order from the state of Georgia against this company for deceptive advertising practices.  Here is a link to Ken.

Now, why do I bring this up?

Honestly, if you are buying a house from me, I don’t care so much where you get your loan.  To a certain extent.  What I don’t like to see:

  • Buyers getting ripped off by high rates
  • Mortgage brokers that don’t fulfill their promises (fail to fund, don’t stand behind their pre-qual letters, don’t return calls while things are going south)
  • Mortgage Brokers that put their buyers through the wringer before giving them a loan.
  • Buyers being lied to.

So, I don’t care where my buyers get their loan.  I don’t get kickbacks from lenders for steering business to them.  I recommend a few people… because I know that I won’t have to deal with the things I don’t like to see.  Occasionally, I might ask that one of the lenders I know run a buyer through their process (especially when I am working with a seller and things for the buyer are looking wonky).

The reason for the post is that I am tired of this particular company not telling the truth.

And here is how you can tell…

Get several quotes.  Call a couple different brokers.  If someone is out of the normal range, ask why.  If they are low, ask if they are going to bring YOUR loan in to closing at that rate and payment.   Ask how you can be sure of that.

And, the biggest no-brainer in the history of Earth is to think that this guy doesn’t make any money when he writes a loan…

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