Comments on: February home sales fall 23.8%, median price falls 8.2%

By: Clotpoll

Clotpoll — Tue, 25 Mar 2008 02:06:06 +0000

Sean (283)-

17% ain’t jack. As long as you don’t have a market that’s all rigged up, you can make things work in that kind of environment. I watched my Dad do it from the beginning of super-inflation in the ’70s all the way thru to when Volcker stopped the money blizzard.

There is a way to do business and profit in any environment, except for the one in which the rules get changed constantly and the gubmint starts dabbling in pre-determined outcomes.

By: NJGator

NJGator — Tue, 25 Mar 2008 01:17:26 +0000

http://www.youtube.com/watch?v=MaP9eiWuX3s

By: Mikeinwaiting

Mikeinwaiting — Tue, 25 Mar 2008 01:15:34 +0000

Sean I remember 14 15% with tough standards back in the 80s even for strong buyers.

By: Sean

Sean — Tue, 25 Mar 2008 00:52:19 +0000

Clotpoll,3B, mikeinwaiting,

You have heard of PennyMac, they will be more than happy to help you with a loan in a few years once they get their capital base up from making payday type of loans to struggling homeowners.

http://money.cnn.com/2008/03/24/news/companies/pennymac_mortgages.ap/index.htm?source=yahoo_quote

Once rates get up to 17% again there will be more than enough banks out there willing to write, hold, and service loans.

By: Joeycasz

Joeycasz — Tue, 25 Mar 2008 00:20:56 +0000

I think it was new yesterday or today.

Considering the discussions we’ve had here, it probaly isn’t a totaly new listing.

By: pant up and looking

pant up and looking — Tue, 25 Mar 2008 00:18:19 +0000

re:280
I think it was new yesterday or today.

By: Joeycasz

Joeycasz — Tue, 25 Mar 2008 00:15:50 +0000

Couldn’t find it with the MLS # but then again i’m not a member of that page.

By: grim

grim — Tue, 25 Mar 2008 00:12:39 +0000

SELLER ENTERTAINING FULL PRICE OFFERS OR BETTER ONLY.

That very much may be the case, but why would the listing agent say that in the listing.

It is a clear sign that the seller is unwilling to negotiate on anything, I can’t imagine a buyer wouldn’t be offended by that statement in this market.

Way to go listing agent.

By: Joeycasz

Joeycasz — Tue, 25 Mar 2008 00:06:02 +0000

Someone needs to tell that realtor to stop yelling, ow my ears.

hehe

By: pant up and looking

pant up and looking — Mon, 24 Mar 2008 23:57:58 +0000

Hi, I usually lurk but I just had to share this. I just got this in an autoemail, read the last sentence:
GSMLS# 2500773 Roxbury Ranch

REM: SPRAWLING BRICK RANCH ON A GORGEOUS 1.65 ACRE LEVEL LOT. MANY RECENT UPGRADES & RENOVATIONS. SOME FINISHING NEEDED. LOTS OF SPACE & GENEROUS ROOM SIZES. BASEMENT WIRED & FRAMED FOR FINISHING.

ADD REM: BASEMENT W/ WALK OUT, 2 NEW INDOOR ROTH OIL TANKS, 2 FIREPLACES, NEWER ROOF, CENTRAL AIR, WOOD FLOORS UNDER CARPET, MODERN KITCHEN, PAVER SIDEWALK, EXTRA BIG GARAGE & SO MUCH MORE. GREAT POTENTIAL & PERFECT FOR THE EXTENDED FAMILY. SELLER ENTERTAINING FULL PRICE OFFERS OR BETTER ONLY.

By: 3b

3b — Mon, 24 Mar 2008 23:50:23 +0000

Some guy on Kudlow (looked like an aging male model) says the Bull market is being reborn!!

Its time to “buy stocks”, “buy junk bonds”, the Bull market is reborn!!!

By: Mikeinwaiting

Mikeinwaiting — Mon, 24 Mar 2008 23:34:13 +0000

njrebear I’m tempted to a Gary rant.So they can stick it as their taxes go up & up.If they aren’t giving it away I ain’t buying.
To tell the truth trying like hell to find work out of NJ.The current state of NJ budget will keep driving up taxes I’d planned to buy cash just to keep up with taxes but why.Getting out of Dodge!

By: Mikeinwaiting

Mikeinwaiting — Mon, 24 Mar 2008 23:21:37 +0000

Clot #2 loans given by banks, from actual cash assets on hand…with notes held and serviced by the lender until payoff.
How totally revolutionary. That would assure the lender did due diligence out of self interest.Whats old becomes new again.

By: njrebear

njrebear — Mon, 24 Mar 2008 23:20:45 +0000

Mike,
What’s the use? Sellers will never ever ‘give it away’ :)

By: Clotpoll

Clotpoll — Mon, 24 Mar 2008 23:17:20 +0000

Now, for the truly hallucinatory scenario:

In three years, anyone alive will be able to obtain access to unlimited amounts of consumer credit, albeit at usury rates for at-risk borrowers.

However, access to real estate financing will be similar to the way it was in 1895.