Comments on: Feeling the squeeze

By: Carmelo Oliveri

Carmelo Oliveri — Sun, 17 Aug 2008 22:59:08 +0000

http://www.OurNJhouse.com

By: instigator

instigator — Fri, 13 Jun 2008 15:52:58 +0000

grim Says:
June 12th, 2008 at 6:19 am
From the NY Times:

Housing Slump Helps the Draw of Fixer-Upper TV

…

Shows that were hallmarks of the bubble — like “Flip That House” (on TLC) and “Flip This House” (on A&E) — are still around, but have been retooled with less-than-happy endings. The TLC episodes are repeated several times each week and still draw an average of 700,000 viewers a showing.

…

Maybe they should rename those shows to
Flop That House
and
Flop This House

Sorry,
but after how speculators contributed to the the bubble,
I couldn’t resist! ;)

By: njpatient

njpatient — Fri, 13 Jun 2008 03:39:58 +0000

273 nom
“You will want to speak to me (better yet, my BIL and sister) before jumping into Northern NE though. They have a spread in southern maine that serves as a B&B, horse boarding farm, weekend getaway, and sanctuary location (just in case). They can provide insights on the pitfalls of having such property, which is why my model for a similar project is somewhat different”

I lived in Maine for 5 years, and my brother moved to Midcoast Maine permanently, bought several acres and built his own 3000 sqft place (with his own two hands – I’ll have to ask him if I can send grim some pics for the blog). Maine I’m pretty familiar with.

By: stuw6

stuw6 — Fri, 13 Jun 2008 02:59:57 +0000

SRS is commercial.

By: bruiser

bruiser — Fri, 13 Jun 2008 02:51:19 +0000

Sorry to hear about the “redevelopment” of the Fairway Golf Center. Me & the girlfriend enjoyed the go-karts, bumper boats, and driving range in addition to the minigolf. Now it will be just another Piscataway condo farm, dubbed a “transit village” to keep the locals dumb & ignorant.

By: Frank

Frank — Fri, 13 Jun 2008 01:53:52 +0000

Tom,
Try this instead.

ETF Filed To Track Housing Prices (UMM, DMM)

MacroMarkets LLC has announced that its subsidiary MacroShares Housing Depositor has now filed with the Securities and Exchange Commission for exchange-traded securities that will allow investors to invest in the upward and the inverse movement of U.S. home prices.

MacroShares Major Metro Housing Up and Down securities will be based on the S&P/Case-Shiller Composite-10 Home Price Index, which is a a nationally recognized gauge for U.S. home prices. For a representation, it tracks the following cities: Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco, and Washington D.C.

We would like to note that with this not having any representation in Texas at all that it is not at all a full representation, and we’d even argue that based on city selection those using this index for a comparison are using it to keep the average housing prices higher. regardless of our opinion on the index not being a fully representative representation of the US housing market, it will allow investors to access what MacroShares itself calls “this important, but illiquid, asset class.”

When these are launched, these paired securities will have a 10-year term and will feature a 2x (200%) leverage factor. MacroMarkets LLC plans to launch the new securities on the NYSE Arca under the ticker symbols:

* UMM – MacroShares Major Metro Housing Up
* DMM – MacroShares Major Metro Housing Down

And who says that ETF’s and ETN’s have ceased being creative?

http://www.247wallst.com/2008/06/etf-filed-to-tr.html

By: Tom

Tom — Fri, 13 Jun 2008 01:42:01 +0000

SRS is commercial RE, plus you’re kind of late to the short RE game.

I’m pretty sure we still have a ways to go.

By: BC Bob

BC Bob — Fri, 13 Jun 2008 01:33:10 +0000

“The same developer had condos that were not selling, and the offer was “Buy the house, get a condo free.”

I said, about a year ago, that we will eventually see happy hour pricing. Going forward, please take my house, just pay my taxes.

By: Frank

Frank — Fri, 13 Jun 2008 01:31:57 +0000

Tom,
SRS is commercial RE, plus you’re kind of late to the short RE game.

By: Tom

Tom — Fri, 13 Jun 2008 01:27:58 +0000

SRS looks interesting thanks for that. I’m going to do more research on it.

By: Pat

Pat — Fri, 13 Jun 2008 01:18:32 +0000

I don’t use zillow for foreclosures. I watch the mls, get addresses, compare to the sheriff’s listing weekly [parsed for Newtown, Langhorne and Yardley], then make my own comps based on SQ FT, school and lot size.

By: Pat

Pat — Fri, 13 Jun 2008 01:14:46 +0000

That was the Newtown example.

By: Pat

Pat — Fri, 13 Jun 2008 01:10:16 +0000

Laughing, you mentioned you weren’t seeing the REOs in the “desireable” areas.

I see them.

I posted the $75k differential a few weeks ago. It was a colonial versus a Felix Unger split with a pool. The REO, at approximately $100k under ’06, sold in two weeks. It hasn’t closed yet.

By: scribe

scribe — Fri, 13 Jun 2008 00:55:39 +0000

Rich,

I see it.

Boy, talk about cr*p furniture!

By: Sybarite

Sybarite — Fri, 13 Jun 2008 00:45:33 +0000

Tom,

SRS might be what you’re looking for.