Search results

Got to remember the fees for foreclosing. I looked at one locally, owed 305K sale was slated for 324K due to fees, etc.

Don't know where you live but in SoCal it's not that easy. Still doesn't help the situation. Even a 4% mortgage won't help the majority that couldn't afford the home without the 1-2% teaser rates. The one and two year old home note that were sold with crazy teaser rates, now adjusting and...

How do you figure this? They couldn't afford a fixed rate in the first place, needed a teaser rate to enter the market, and converting to a fixed on a property with a bad LTV (>80% and sometimes in excess of 100%) ratio is cheaper? :confused: No appreciation and rising rates doomed...

I think you mean eastward.

I excpect that 157K number to go up by at least 100% for 2007, and wouldn't be surprised at a 200% increase.

With stuff like this just being uncovered, we have a long way to go. http://www.nctimes.com/articles/2007/01/06/news/californian/20_44_381_5_07.txt

Not bottomed yet... A few houses remain in the community I live in. You can buy for 373K with 37K rebate at closing, net 336K. Gets reported in the bogus monthly sales data as a sale at 373K not the net of 336K. Gotta keep those comps up! Total BS

Yep, Notre Shame provides another great performance. I hope they go 5-7 next year... no BCS bowl that way.

I heard dumb ol' jerkoff johnson didn't fall out of the cart, but off the top of the cart...

UM had their shot. I say UF deserves the shot.

You're right... it's "Property Ladder" on TLC with Kirsten Kemp. Too many of those shows to keep track of. I just remeber them at the end of the show rolling off the weeks sitting for sale and just the mortgage payment being deducted, like that's the only expense. LOL

I've noticed on the most recent "Flip that House" episodes, they don't have the final P&L. Hmmmmm. I may be wrong, but, saw two episodes teh other day with no fimal results of the exercise.

I'm a bear no doubt. To say the worst is over is not even remotely reasonable where I live, IMHO. ARM/IO resets are killing people here in the Palm Springs area, homes haven't appreciated and the opportunity to refinance with an 80% LTV is not available. Realtors sold people a bill of goods...

I would think the Graf /Agassi home was bought under a corporate umbrella. What the tax treatment then? Hmmm!

Same deal where I live in LaQuinta, CA. Median household income has gone from 41K in 2001 to roughly 50K in 2005. Home prices (median) gone from 175K to 400K. Wages up 20% home values up 130%. Home values as a factor of yearly wages has gone from roughly 4x to 8x. Very affordable...

Exactly!!! Quote national all you want, but, NOBODY lives nationally. It's a local market, always has been.

No way is it done in my area (SoCal), it's just getting started. IMHO, it has another 20-30% downside to go. Reported sale $ numbers have NOTHING to do with reality. They should have to report sales amount as "net to seller" before normal cost, not gross including concessions. Some...

Electrical contractor friend is laying off 25 of 47 employees today in one division. Yep, market is very strong on the construction side.

This is a possible scenario for areas that have normal financing as the main form of purchase. Any area that has a proliferation of ARMS/IO loans will have severe drops in value as people that could barely afford minimum payments get busted out at reset time. I live in one of the areas...

Looks like nascraps biggest crybaby is going to win it. Maybe Carl Edwards can wall JJ in the first 100 laps and MK ends up winning. Won't happen, unfortunately!!! Dare to dream :D I'll read the papers next year to follow results.