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Journal Volume V (408) 264-3198 The Definitive Source for Real Estate Investor Information The SJREI Association is the bay area’s most dynamic source for investor education and networking. Through our free publication, SJREI Journal, and monthly meetings, we provide the tools necessary to enable individuals to make wise, profitable investment decisions. Make a commitment to your future and attend our next meeting. Visit for dates and locations. SJREI Association is a member of the National REIA Estate Planning Michael Gray, CPA..............3 Economic Outlook with Howard Blum Kansas City Investing Geraldine Barry - SJREI President, sat down with local economist Howard Blum who shared his thoughts on the economy and real estate market. How many real estate cycles have you been through, and what are your thoughts as an economist on this one? This is deeper than most of us expected, will it take longer to turn around? When will things turn around? It should begin before the end of 2010, but I am fearful that the damage has been so extensive that it could conceivable take five years or more before the entirety of the housing market continuum fully stabilizes. Month-To-Month Annualized Pace of Sales (Times 1,000) For New Homes Nationwide 1,400 ©2010 The Financial News & Information Service 1,200 1,000 800 600 May’s Pace 300,000 400 Down from revised 446,000 in April I have been through several down cycles for the hous200 ing sector since I first became an economist some 40+ years ago and this is by far the worst one I have seen. Indeed I suggest this is by far the worst housing market depression in the post World War II era. M a M y-0 ay 0 -2 M 00 ay 1 -2 M 00 ay 2 M 200 ay 3 -2 M 00 ay 4 M 200 ay 5 -2 M 00 ay 6 -2 M 00 ay 7 M 200 ay 8 -2 M 00 ay 9 -2 01 0 Mark Edmondon..................4 REO List Scams Lori Greymont.....................6 Is Buy & Hold Dead? David Beck, CFP..................8 Reasons to Buy Now Stuart Baeriswyl, Broker...10 Seeking the Future Mike Ryan, Broker.............12 Investing IRA Funds Jeffrey Hare, Attorney........14 Behind on Your Mortgage? Geraldine Barry..................16 Successful Dealmaking Richard Kelly.....................18 NewTax Laws Richard Smith, ACC’T......21 This housing market depression is longer and deeper than the federal government thought it would be, so their actions and stimuli were based on recent housing market slumps and grossly inadequate to deal with the enigmatic situation we find ourselves in after more than three years. (Continued on pg. 22) “Build Your Team” S Greg Jamison did just that with the San Jose Sharks! JREI is fortunate to be hosting Greg Jamison motivational speaker, and entrepreneur, as our key note speaker at our annual holiday dinner. Mark your calendars: this event will take place on December 3rd at 6:30 and will include dinner, Greg as the key note speaker, and 2011 Real Estate Forecast with a portion of the proceeds benefiting First Harvest Food Bank. Greg is a nationally recognized speaker and it is a coup for us to have secured him to speak at our event! We have enclosed Greg’s biography to illustrate how much he has done for San Jose and the local community from a business and charitable perspective. Greg Jamison serves as President and CEO of Silicon Valley Sports & Entertainment (SVS&E) and the San Jose Sharks. (Continued on pg. 13)

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