This week was pretty hard on a vast number of everyday people who relied on IndyMac bank to hold and manage their funds. It seems that one of the leading California banks whose strong suit lay in mortgages and loans has been appropriated by the government in an action to save investors and account for some major miscalculations. The bottom line for most customers of Indy Mac Bank is that your funds are protected and insured by the FDIC for up to $100,000. Anything past that you’re on your own, meaning that many people sitting on large nest eggs are out of luck in seeing any more of their money past that $100k mark. The AP (Associated Press) showed customers of Indy Mac waiting in lines numbering in the thousands, waiting for a bank that wasn’t going to open. An interesting thing happened in the following days on the stock market… The price of oil “corrected” by over 16 dollars and is still dropping. As I see it, more banks will fail, and the weak will get weeded out from the strong to help our economy become a more fortified machine. It’s going to take some major “corrections” to see a massive rebound, but the chain of events is definitely set in motion and we should see a strong recovery from the maladies in the last 5 or so years.
In recent times, New Condos Online has forged some very unique and strong advertising partnerships that have overcome many of the hurdles that the U.S based recession is going through. Partnerships for advertising new condos developments with DayStar properties in Costa Rica, who have an awesome series of developments and a one of our international features. They boast over 6 properties in beautiful Jaco Beach Costa Rica and will be adding new developments over the next 6 months.
Another very cool project is Milagro Del Mar down in Nicaragua. This fantastic project is a part of a new development phase in Latin America. While The U.S dealing with this depression, international development is growing by leaps and bounds on a quarterly basis.
As the housing market fluctuates, so does the number of discount brokers who have come and gone over the last few years. Lending Tree recently released a statement notifying the community of 440 company lay-offs. With this spokeswomen Rebecca Anderson stated, “This decision was a proactive move to adapt to the current market.”
Anderson declines to break down how many employees will lose their jobs in each city. Affected employees will receive severance packages and outplacement services, she says. The layoffs come in the wake of Tom Reddin’s departure as chief executive of the business. Reddin surprised even his corporate superiors last month, announcing he would retire effective May 7 to spend more time with his family.
In recent months, we have also seen a Southern California Brokerage, I-Pay-One float in and out of bankruptcy, another discount broker who facilitates real estate transactions for no more than 1% commission. Help-U-Sell assists home buyers in For Sale By Owner type transactions at a reduced commission. In the heat of the market Help-U-Sell flooded the country with office grand-openings all over and now it seems like the doors are closing quicker then opening.
To the newly established Redfin, a discount brokerage based strictly on buying and selling via the internet, I wish you the best. Based on the track record of similar business models, you have a tough road ahead of you.
Have you ever wondered what Internet Sites get the most traffic and how to find out traffic rankings? We place ads on many sites and we work with many media planning and advertising companies. It is essential that we know how much traffic a website receives before we consider placing an ad of any kind or a banner on that website. We use 2 main sites to judge how much traffic a website receives and so should you. The top 2 Sites in the Industry are Alexa.com and Ranking.com. These are the two most highly respected judges of traffic on the Internet today. Ranking.com ranks from 1 to 900,000 and Alexa.com ranks from 1 to usually about 2 million. Google, Yahoo, and MSN always round out the top 3 with other favorites in the top ten such as Myspace and YouTube. Sites in the top 100,000 are top tier sites in the world. These sites update frequently so you should continue to check where you stand.
NewCondosOnline.com: Ranking.com-28,187 Alexa.com-34,794