Comments on: NJ Homeowners Falling Behind

By: watergapnomad

watergapnomad — Mon, 09 Mar 2009 02:45:49 +0000

I think this blog would make many of you twitch uncontrollably…

By: Richard Stabile Bergen County Real Estate

Richard Stabile Bergen County Real Estate — Sun, 08 Mar 2009 22:20:42 +0000

At a bottom in any market it is usual for the hands to change and to have capitulation. In real estate declines, this would be a sudden unexpected large group of sales at considerably lower prices that the last sales. It is the final, I can’t take it, I am getting out. The main problem with this developing is that most people at that point are under water and a bank or banks must ok the sale. I think you are going to see this shortly, as the banks see the funds from the fed, which will let them mark these loans down and get rid of the property. It always happens. It will happen again. Real Estate is a commodity and there is loads of emotion or lack of in the case of people who decide to walk, involved. The only difference as I say here is the mortgage holders, who need to be involve to move this along.

Once you see this quick run, the market will get its’ sea legs and level out.
Richard

By: Bucks County Remodeler

Bucks County Remodeler — Sat, 07 Mar 2009 23:10:55 +0000

Tags:

By: grim

grim — Fri, 06 Mar 2009 22:22:45 +0000

New thread, move it up.

By: HEHEHE

HEHEHE — Fri, 06 Mar 2009 22:13:57 +0000

Roubini

“Even correcting for the effect of the Chinese New Year, exports and imports are sharply down in China, with imports falling (-40%) more than exports. This is a scary signal, as Chinese imports are mostly raw materials and intermediate inputs. So while Chinese exports have fallen so far less than in the rest of Asia, they may fall much more sharply in the months ahead, as signaled by the free fall in imports.”

http://www.forbes.com/2009/03/04/global-recession-insolvent-opinions-columnists-roubini-economy.html

By: ithink ithink

ithink ithink — Fri, 06 Mar 2009 22:06:58 +0000

#354 SG
Padmapper puts Craigslist apartment listings on a map.

http://padmapper.com/

By: Dink

Dink — Fri, 06 Mar 2009 22:06:47 +0000

Stu or Gator,

Do you know of any good veterinarians in the Montclair area?

By: HEHEHE

HEHEHE — Fri, 06 Mar 2009 22:05:26 +0000

no need for stock splits:

NYSE Relaxes Listing Rules Until June as Stocks Slump (Update1)

http://www.bloomberg.com/apps/news?pid=20601103&sid=aEErPHtEstzE&refer=news

By: confused in nj

confused in nj — Fri, 06 Mar 2009 21:45:08 +0000

Dow and S&P at twelve year low. Do reverse splits on each stock going back twelve years and share price will increase.

By: HEHEHE

HEHEHE — Fri, 06 Mar 2009 21:44:08 +0000

“They dont have the money to do it. They would have to get money from the treasury before they even attempt it. The FDCI has 20 or 30 billion in cash. Citi would cost them a few hundred billion.”

Which makes me ask the question wouldn’t the 700B have been better going to the FDIC and letting these banks go bankrupt.

By: Shore Guy

Shore Guy — Fri, 06 Mar 2009 21:40:50 +0000

Gator,

What is with Florida State? Your heart must be breaking, knowing the goodwill between FSU and FU.

By: SG

SG — Fri, 06 Mar 2009 21:32:12 +0000

http://allonhill.com/

By: kettle1

kettle1 — Fri, 06 Mar 2009 21:30:12 +0000

make

FDIC is afraid to take over a failed big bank cause they have no idea of what to do with it.

They dont have the money to do it. They would have to get money from the treasury before they even attempt it. The FDCI has 20 or 30 billion in cash. Citi would cost them a few hundred billion.

By: SG

SG — Fri, 06 Mar 2009 21:26:53 +0000

Investors Step In To Buy “Toxic” Mortgages

Typically, they pay 40 to 45 percent of the current value of the house.

They show a picture of a stately New Jersey home. The borrowers still owe more than $400,000. But Behin and Bhatia expect to buy it for less than $200,000.

Buying at fire sale prices allows them to offer a break to struggling homeowners.

“A lot of times we go around and offer them 30 to 40 percent below what they’re used to paying right now,” Behin says.

Behin and Bhatia make their money when they take those stabilized mortgages and later sell them at a profit when the market improves.

By: HEHEHE

HEHEHE — Fri, 06 Mar 2009 21:22:01 +0000

“It sure beats having a sick stomach and a brokerage account on life support.”

That was me in December when I was short during that auto bailout.