July Comp Killer!

Hat tip to ww4b for the Hunterdon and Warren comp killers, more to follow.

Hunterdon Comp Killers

660 County Rd 579, Alexandria Twp NJ
Purchased: 9/17/2004
Purchase Price: $440,000
MLS# 2670578
Listed: 4/2/2009
List Price: $429,000
Sold: 7/24/2009
Sale Price: $397,000
10% under the 2004 sales price

27 Inverrary Pl, Clinton Twp NJ
Purchased: 11/05/2004
Purchase Price: $330,000
MLS# 2651966
Listed: 2/20/2009
List Price: $359,900
Sold: 7/16/2009
Sale Price: $325,000
1% under the 2004 sales price

24 Willow Brook Ln, Clinton Twp NJ
Purchased: 2/1/2006
Purchase Price: $725,000
MLS# 2637608
Listed: 1/27/2009
List Price: $675,000
Sold: 7/1/2009
Sale Price: $590,000
18% under the 2006 sales price

81 Crestview Dr, Clinton Twp NJ
Purchased: 9/14/2005
Purchase Price: $762,000
MLS# 2677335
Listed: 4/26/2009
List Price: $675,000
Sold: 7/31/2009
Sale Price: $625,000
18% under the 2005 sales price

67 Crestview Dr, Clinton Twp NJ
Purchased: 3/30/2006
Purchase Price: $720,035
MLS# 2685869
Listed: 5/27/2009
List Price: $699,500
Sold: 7/30/2009
Sale Price: $650,000
10% under the 2006 sales price

88 Amwell Rd, East Amwell Twp NJ
Purchased: 9/18/2006
Purchase Price: $549,000
MLS# 2686676
Listed: 5/29/2009
List Price: $524,980
Sold: 7/24/2009
Sale Price: $488,000
11% under the 2006 sales price

1607 Spruce Hills Dr, Glen Gardner NJ
Purchased: 3/31/2006
Purchase Price: $163,000
MLS# 2688041
Listed: 6/23/2009
List Price: $150,000
Sold: 7/29/2009
Sale Price: $150,000
8% under the 2006 sales price

6 Manning Ct, High Bridge NJ
Purchased: 7/28/2004
Purchase Price: $419,000
MLS# 2673988
Listed: 4/15/2009
List Price: $399,900
Sold: 7/8/2009
Sale Price: $390,000
7% under the 2004 sales price

428 Bellis Rd, Holland Twp NJ (REO)
Purchased: 3/19/2004
Purchase Price: $396,000
Purchased: 2/27/2006
Purchase Price: $500,000
MLS# 2675791
Listed: 4/20/2009
List Price: $229,000
Sold: 7/30/2009
Sale Price: $210,000
47% under the 2004 sales price
58% under the 2006 sales price

6 Knox Ln, Lebanon Boro NJ
Purchased: 11/10/2005
Purchase Price: $516,000
MLS# 2662547
Listed: 3/12/2009
List Price: $539,000
Sold: 7/24/2009
Sale Price: $479,000
7% under the 2005 sales price

1309 Normandy Ct, Raritan Twp NJ
Purchased: 10/18/2006
Purchase Price: $178,000
MLS# 2653297
Listed: 2/23/2009
List Price: $169,900
Sold: 7/14/2009
Sale Price: $157,500
13% under the 2006 sales price

36 Elm Terrace, Raritan Twp NJ
Purchased: 12/1/2004
Purchase Price: $312,500
MLS# 2681325
Listed: 5/9/2009
List Price: $280,000
Sold: 7/16/2009
Sale Price: $280,000
10% under the 2004 sales price

145 Old Croton Rd, Raritan Twp NJ
Purchased: 12/1/2005
Purchase Price: $360,000
MLS# 2653967
Listed: 2/23/2009
List Price: $335,000
Sold: 7/17/2009
Sale Price: $310,000
14% under the 2005 sales price

40 Kentworth Ct, Raritan Twp NJ
Purchased: 8/25/2004
Purchase Price: $350,000
MLS# 2646673
Listed: 2/11/2009
List Price: $344,040
Sold: 7/2/2009
Sale Price: $324,000
7% under the 2004 sales price

3 Hartpence Ct, Raritan Twp NJ
Purchased: 6/18/2004
Purchase Price: $475,000
MLS# 2657407
Listed: 3/1/2009
List Price: $469,900
Sold: 7/24/2009
Sale Price: $427,000
10% under the 2004 sales price

127 Kuhl Rd, Raritan Twp NJ
Purchased: 2/28/2006
Purchase Price: $545,000
MLS# 2664015
Listed: 4/17/2009
List Price: $475,000
Sold: 7/27/2009
Sale Price: $456,000
16% under the 2006 sales price

3 Stirrup Ln, Raritan Twp NJ
Purchased: 5/1/2006
Purchase Price: $546,000
Purchased: 11/15/2007
Purchase Price: $517,500
MLS# 2667152
Listed: 3/25/2009
List Price: $519,900
Sold: 7/31/2009
Sale Price: $489,900
10% under the 2006 sales price
5% under the 2007 sales price

3 Haven Hill Rise, Raritan Twp NJ
Purchased: 8/24/2004
Purchase Price: $595,000
MLS# 2665054
Listed: 3/20/2009
List Price: $589,000
Sold: 7/30/2009
Sale Price: $530,000
11% under the 2004 sales price

15 Shurts Rd, Readington Twp NJ (REO)
Purchased: 9/16/2004
Purchase Price: $365,000
MLS# 2646348
Listed: 2/10/2009
List Price: $464,900
Sold: 7/1/2009
Sale Price: $350,000
4% under the 2004 sales price

35 Lance Rd, Readington NJ
Purchased: 12/15/2004
Purchase Price: $730,000
MLS# 2512084
Listed: 4/26/2008
List Price: $760,000
Sold: 7/1/2009
Sale Price: $691,000
5% under the 2004 sales price

11 Dogwood Dr, Readington Twp NJ
Purchased: 1/14/2008
Purchase Price: $945,000
MLS# 2646764
Listed: 2/12/2009
List Price: $929,900
Sold: 7/17/2009
Sale Price: $827,500
12% under the 2008 sales price

Warren Comp Killers

170 Old Farm Dr, Allamuchy NJ
Purchased: 10/2/2008
Purchase Price: $195,000
MLS# 2678184
Listed: 4/29/2009
List Price: $189,000
Sold: 7/10/2009
Sale Price: $181,000
7% under the 2008 sales price

9 Purple Martin Dr, Allamuchy NJ
Purchased: 6/3/2004
Purchase Price: $268,000
MLS# 2637593
Listed: 1/27/2009
List Price: $265,000
Sold: 7/10/2009
Sale Price: $246,000
8% under the 2004 sales price

821 Lopatcong St, Belvidere NJ (REO)
Purchased: 8/7/2006
Purchase Price: $295,000
MLS# 2672794
Listed: 4/9/2009
List Price: $134,900
Sold: 7/30/2009
Sale Price: $140,000
53% under the 2006 sales price

1308 Brian Circle, Greenwich Twp NJ
Purchased: 9/30/2004
Purchase Price: $334,000
MLS# 2664889
Listed: 3/19/2009
List Price: $297,500
Sold: 7/1/2009
Sale Price: $287,000
14% under the 2004 sales price

817 Mary Circle, Greenwich Twp NJ
Purchased: 4/30/2003
Purchase Price: $320,000
MLS# 2627439
Listed: 1/10/2009
List Price: $343,900
Sold: 7/9/2009
Sale Price: $312,000
3% under the 2003 sales price

503 Standish Pl, Greenwich Twp NJ
Purchased: 9/28/2004
Purchase Price: $455,000
MLS# 2679628
Listed: 5/4/2009
List Price: $415,000
Sold: 7/15/2009
Sale Price: $415,000
9% under the 2004 sales price

405 Parker Rd, Greenwich Twp NJ
Purchased: 3/30/2005
Purchase Price: $852,000
MLS# 2575409
Listed: 9/8/2008
List Price: $699,900
Sold: 7/10/2009
Sale Price: $650,000
23% under the 2005 sales price

105 Madison St, Hackettstown NJ
Purchased: 3/28/2005
Purchase Price: $289,000
Purchased: 4/9/2008
Purchase Price: $315,500
MLS# 2685622
Listed: 5/22/2009
List Price: $256,900
Sold: 7/23/2009
Sale Price: $257,000
11% under the 2005 sales price
19% under the 2008 sales price

21 Mitchell Rd, Hackettstown NJ
Purchased: 1/30/2006
Purchase Price: $350,000
MLS# 2580004
Listed: 9/18/2008
List Price: $314,900
Sold: 7/20/2009
Sale Price: $220,000
37% under the 2006 sales price

4 Heather Ct, Mansfield Twp NJ
Purchased: 3/26/2007
Purchase Price: $344,900
MLS# 2677763
Listed: 4/27/2009
List Price: $319,900
Sold: 7/27/2009
Sale Price: $315,000
9% under the 2007 sales price

133 Hudson St, Phillipsburg NJ (REO)
Purchased: 11/30/2004
Purchase Price: $160,000
MLS# 2689094
Listed: 6/5/2009
List Price: $61,555
Sold: 7/9/2009
Sale Price: $55,000
66% under the 2004 sales price

355 Grant St, Phillipsburg NJ
Purchased: 9/16/2008
Purchase Price: $234,500
MLS# 2611948
Listed: 12/1/2008
List Price: $199,900
Sold: 7/10/2009
Sale Price: $155,000
34% under the 2008 sales price

227 Natalie Dr, Phillipsburg NJ (REO)
Purchased: 3/22/2001
Purchase Price: $230,000
MLS# 2666636
Listed: 3/23/2009
List Price: $214,900
Sold: 7/2/2009
Sale Price: $225,000
2% under the 2001 sales price

250 Buckley Ave, White Twp NJ
Purchased: 12/1/2006
Purchase Price: $580,000
MLS# 2577582
Listed: 9/13/2008
List Price: $499,900
Sold: 7/22/2009
Sale Price: $470,000
19% under the 2006 sales price

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137 Responses to July Comp Killer!

  1. Stu says:

    frist! Beyatch.

  2. yo'me says:

    Play that funky music white boy

  3. GerryAdams says:

    Hunterdon County prices should be still heading south. The commute sux, no shopping, no jobs. Just a big house in the middle of nowhere. Wait til the price of gas is $4 again and second terms by Corzine and Obama add a dollar in tax to make $5 a gallon. Raritan and Holland townships owners will then see their values decline.

    A fair assumption is that energy will out pace inflation in the next twenty years. Buying into a large inefficient house with an hour commute will eat at our savings.

    /rant off

  4. House Whine says:

    #3
    Agreed. Years ago we were tempted to do the Hunderdon County home purchase but I felt really uncomfortable with the thought of buying a “big house in the middle of nowhere”. There are only a few companies out there who employ large numbers of people; other than that it’s just small businesses. I would take Somerset of Morris county over Hunterdon County any day.

  5. ruggles says:

    3 and 4. If you are a suburban house type of person, you don’t belong in Hunterdon. To me, Morris and Somerset are insufferably boring. and there’s no escape from the entitled a$$holes who live there (not everyone of course but enough that you’re usually reminded that people are jerks wherever you go). out here at least we can get away, enjoy the view and get to the lehigh valley where the shopping is more relaxed and (at least for groceries) better.

  6. woodisgood says:

    I’d love to know: How have sales been in Union County–specifically, Fanwood, Cranford, Westfield?

  7. willwork4beer says:

    #3. Gerry

    You’re right. Prices continue to head south in Hunterdon.

    #4. House

    You’re right, too. I love the middle of nowhere. I grew up in Bergen County. You could only get me to return at gunpoint.

    #5. Ruggles

    In my nightmares, I’m an underwater bagholder, forced to continue living on a cul-de-sac of identical, suburban crapboxes…

  8. Fiddy Cents on the Dollar says:

    ww4b –

    In this Dickensian Nightmare…..each of the houses on the cul-de-sac is vacated as the bagholders are thrown into debtor’s prisons and workhouses. Lawns go to weed, Palladian Window Glass breaks and litters the sidewalks, and the pipes burst in winter sending toxic mold spores throughout the neighborhood.

    Only one castle remains occupied……

  9. willwork4beer says:

    #8 Fiddy

    Thanks.

    You couldn’t figure out how to work in tortured spirits, rattling their chains?

  10. NJChoo says:

    Question: Any info on MLS 2702541?

    Just monitoring what is going on tks!

  11. Pol Clot says:

    Gerry (3)-

    The sales volume in Hunterdon is pathetic. That shows the bid/ask spread has been too wide to support anything resembling a functioning market.

    However, the job loss bug has now hit here hard, and the jobs being lost are 150-250K positions that will never come back. The luxury market (i.e., Tewksbury) is also being hit. Don’t know if you saw my post a few days back, but I went on my first Tewks distress sale listing appt. last week to a farmette in a prime location. The seller indicated he knows several neighbors who are worse off than he is.

    You can’t fight the market. Buyers can wait longer than sellers can remain solvent. Period.

  12. Pol Clot says:

    fiddy (8)-

    Sounds like it’s time for you to read Love in the Ruins.

  13. lostinny says:

    Clot
    Out of sheer curiosity (and after reading posts in the previous thread about layoffs in restaurants) what would you say is the typical amount of time without a sale before a RE agent is let go? I’ve heard of agents not making a sale in a year.

  14. ruggles says:

    We’ve got a minor flood happening right now in the creek next to my house. driveway being washed away for the 3rd time this summer. yeah Hunterdon!

  15. willwork4beer says:

    #11 Clot

    Re; volume in Hunterdon

    I found 21 properties that sold for less than the previous sale out of 114 total. 18.4 percent.

    Green shoots?

  16. lostinny says:

    Thanks Grim and WW4B for the numbers.

  17. Pol Clot says:

    Jamie Dimon joins Blankfein at the right hand of Satan:

    “JPMorgan Chase, one of the first mega banks to champion the national home loan modification effort, has struck a sour chord with some investors over the risk of moral hazard posed by certain loan modifications.

    Chase Mortgage, as servicer of several Washington Mutual option ARM securitizations it inherited last year in acquiring WAMU, has in several cases modified borrower loan payments to a rate that essentially equals its unusually high servicing fee, according to an analysis by Debtwire ABS. Simultaneously, Chase is cutting off the cash flow to the trust that owns the mortgage. In some cases, Chase is collecting more than half of a borrower’s monthly payment as its fee.

    When asked about the loan modifications, a Chase spokesperson said, ”Given the volumes in the current modification environment, situations are arising that require servicers to review and address modification-related transactional issues. Chase is currently reviewing these transactions.”

    Typically a loan servicer – the entity that collects monthly payments and interfaces with borrowers on behalf of mortgage owners and/or MBS lenders – charges between 0.25% and 0.50% annually. So if a borrower’s interest rate is 7.25% per year on a USD 100,000 loan, the servicer may be receiving USD 250 per year in fees (assuming a 25 basis point fee and no amortization), with the remaining USD 7,000 of annual interest going to the holder of the mortgage note.

    But for the loans in question, servicing fees range as high as 2%-3%. In some cases, Chase, or Washington Mutual previously, modified interest rates on the loans down to 3%, while keeping the servicing fee flat. This essentially strips cash flow from the mortgage note holders and diverts it to the servicer, a tactic that doesn’t sit well with owners of the impacted bonds.”

    http://www.ft.com/cms/s/2/a6f6db88-7aee-11de-8c34-00144feabdc0.html

  18. bi says:

    if you have a very old car worthing much less than $4500. it’s a good deal.

    http://www.nj.com/news/index.ssf/2009/08/cash_for_clunkers_program_is_a.html

  19. Pol Clot says:

    lost (13)-

    Depends on the company. Believe it or not, most of the semi-dead large outfits actually compensate their managers based on how many licenses are hanging, so the managers will hang onto dead weight for years.

    You can walk into virtually any Weichert or Clodwell office and find a few agents who haven’t done a deal in years. They (often, corporate retirees) just use being in a RE office as something to structure their day.

  20. Pol Clot says:

    Forgot to mention: I’ve always thought that these non-productive RE agents would make an excellent starter for a sort of real-life soylent green program.

  21. yikes says:

    this can’t be good for those green shoots

    http://www.nytimes.com/2009/08/02/us/02unemploy.html?_r=1&hp

  22. Pol Clot says:

    beer (15)-

    I think of it as more of an indicator of how bad it will be once the logjam breaks.

    And break, it will.

  23. lostinny says:

    Clot
    Sounds like a good time for me to get my RE license. Any schools/training programs you would recommend?

  24. Fiddy Cents on the Dollar says:

    Clot-

    Love in the Ruins…..I’ll put it on my list. How ’bout “The Road” by Cormac McCarthy.

    On a more uplifting note, I just borrowed from the library The Beatles at Abbey Road. It’s a day by day account of all their sessions. Some fascinating bits of technology covering the old 4-track recording equipment. State of the God Damned Art in 1965.

  25. Pol Clot says:

    From none other than the head of Annaly Mortgage (one of my favorite shorts):

    http://www.scribd.com/doc/18009234/Annaly-Capital

  26. Pol Clot says:

    lost (23)-

    The best RE school in my area just went out of business.

    Check out Weichert or Weidel. They both run decent schools.

    Just be prepared for them to bum rush you to join one of their offices.

  27. lostinny says:

    26 Clot
    That’s exactly why I don’t want to deal with Weichert.

  28. frank says:

    #17,
    Since Barney Franks passed safe harbor into law this is a muted point, no one cares about mortgage investors anymore.

  29. frank says:

    #25,
    You must have lost your shirt shorting Annaly, because I made a fortune on the long side.

  30. frank says:

    #21,
    This is a bunch of BS, do you know what happens when Mexicans can’t find work in their home country? They look for work in US, Spain or other places, in this country people whine. Pick up your pieces and move somewhere that has work. China has plenty of jobs, Australia is looking for people, Poland can’t find enough people.

  31. GerryAdams says:

    Clot (11)

    Been looking in Hunterdon too. The people are delusional – peak prices, some plus 10%. I looked in Tewksbury but the commute out of there is 206 south to route 78. A 90 minutes to Newark door to door trip at rush hour. Also, I could be wrong but I thought I saw lots of empty lots on the tax map.

  32. confused in NJ says:

    DECATUR TOWNSHIP, Mich. – A 49-year-old southwestern Michigan woman who asked a sheriff’s deputy to lend her money for cigarettes after just being told to stop begging by the deputy ended up behind bars.

    The Kalamazoo Gazette reported the woman was warned on July 23 and again on Friday by the Van Buren County sheriff’s department to stop repeatedly asking her Decatur Township neighbors for money to buy cigarettes.

    The sheriff’s department said the woman asked for money from the deputy on Friday, then tried bargaining with the deputy for different dollar amounts. The deputy arrested her for disorderly conduct.

    The case was being forwarded to the prosecutor’s office.

  33. willwork4beer says:

    #31 Gerry

    Re: empty lots

    Everybody in Tewksbury is a farmer. At least for property tax purposes…

    Just ask Christie Whitman. Her place is a farm, too.

  34. yikes says:

    tdstyles says:
    July 31, 2009 at 3:06 pm

    Was looking at Frank’s deals closed in Hoboken. The market is definitely on fire..a fire sale that is!

    Apartment in Hudson Tea building sold for
    $484/ sq ft.!! $124,980 below list.

    Apartment in the brand new Garden Street Lofts went for $113,500 less than the list and clocked in at $460/sq ft.

    which is 1 of 10 reasons never to read/believe any post by Frank the Racist

  35. Pol Clot says:

    frank (29)-

    I continually underestimate just how much of a moron you are.

  36. frank says:

    #35,
    Maybe I am, but I made a killing on Annaly vs. loosing a shirt like you. Add your SRS holdings and few failed REO sales and you’re broke.

  37. frank says:

    #34,
    Racist??? where did that come from?? I have been called all sorts of names but not this one. Call me anything you want, but so far I have been correct.

    At $484/ sq ft. you’re calling this a fire sale?? Too bad you have clue about the RE market these days. At these prices the market is one fire.

  38. Stu says:

    Excellent new Don Harrold video. He even donned the overalls for this one.

    http://www.youtube.com/watch?v=nNOk59JOP6g

  39. Stu says:

    I have a meeting tomorrow with one of our town council members who wants to get together to discuss an email I sent all of the town council members and our mayor this morning.

    Subject: I see the township is passing around raises again
    Sent: Aug 2, 2009 9:48 AM

    I just checked the agenda for the upcoming council meeting on the 4th. I trust that in this time of falling revenues and repeated calls to reduce our property tax bills, you will voice your opinion against any non-contractual salary increases at this time.

    Also, I noticed that there is a preliminary resolution regarding Joe Hartnett’s resignation. After his deplorable behavior in regards to the mayor’s request to reduce the budget by 5%, he deserves no exit package above and beyond what he is promised in his already overly generous employ agreement.

    Please do the right thing and show some leadership on these issues.

  40. Barbara says:

    Stu, you wanna really shake them up? Make a simple flier about these raises and pass them out to neighbors. Just 200 houses is all it takes, one afternoon. Then let the chaos ensue.

  41. Barbara says:

    Stu,
    IME the meetings purpose will be to quell dissent. They flatter you with their one on one time, hoping you will be smitten.

  42. Stu says:

    Frank the racist says:

    Frank says:
    July 18, 2009 at 4:24 pm

    #330,
    Will this replace the dots on their heads??

  43. Stu says:

    Barb,

    Not me. As they make their typical excuses, I fight them tooth and nail and then follow up with letters in our local paper. It doesn’t end up serving any purpose more than embarrassing them a bit and giving me the chance to say, I told you so the next time around.

  44. wallies says:

    House Hunting Tip – A rainy day like today is a good time to view houses. Why? Because the one I visited today had about two inches of water in the basement.

  45. Barbara says:

    stu
    you sound like my husband and I here. We are the local gadflys but not as much as we used to be. Probably because we’ve been looking to move anyway.

  46. Stu says:

    Barb,

    There is way too much money in the town of Montclair. The ultra liberals here like to say they are for diversity and choose to live here so they can raise their children in this integrated environment. Unfortunately, they send their children to the lily white private schools and scream bloody murder whenever there is a threatened cut to any budget item. Deep inside, they wished the wrong side of the tracks was as nice as the right side.

  47. Barbara says:

    wallies,
    newer construction or older pre 70s house?

  48. wallies says:

    Older pre-70s.

  49. Barbara says:

    Stu,
    there is nothing for me in the American political spectrum. Fiscal conservatism is hopeless married to religious zealotry and progressive thought can’t be pried away from collectivism.

  50. Barbara says:

    wallies yeah I think that every pre 70s house not on very high ground got it today. I know we did.

  51. stan says:

    Frank- cmon,

    You are well aware that those places were selling in ths mid to high 500’s per square foot previously. Many are getting creamed in Hoboken and jersey city right now.

  52. Stu says:

    Barb,

    I agree with you. I don’t fight the power like a few other residents of the granola variety do around here. I sort of do it as a form of entertainment. We all know that the lack of profit motive in the public sector will always leave us with sh1tty service and people more concerned about maintaining the status quo rather than making any real improvements.

  53. Barbara says:

    Stu,
    nonetheless I lust after those houses in Montclair. Not even the mansions, I like the rambling Victorians on Clairmont for example. They are all so different and the have back stairwells! *swoon* *cries*

  54. Pol Clot says:

    Our 11 faced a team from Montclair a couple of times this Summer. I hope I never see such a horrific display of diving, whining and dirty play from kids this age ever again. The referee was handing out cards left and right, and they seemed to be enjoying getting them. When they scored, the celebrations were like in EPL games. Worst of all, the parents encouraged the awful behavior. The group of them seemed to be classic, type-A, loudmouthed jerkoffs. They also all seemed to be very young.

    WTF? I didn’t think Montclair had an appeal to this demographic.

  55. chicagofinance says:

    28.frank says:
    August 2, 2009 at 12:39 pm
    #17, Since Barney Franks passed safe harbor into law this is a muted point

    frank: I can’t hear you, there is no sound…

  56. Barbara says:

    pol clot that is very discouraging. Was it a public school team or private?

  57. Stu says:

    Pol Clot,

    “I hope I never see such a horrific display of diving, whining and dirty play from kids this age ever again.”

    Who won? :P

  58. frank says:

    #51,
    Are you aware that Citi was selling for $50/share at one point?
    You are talking less than 10% drop from unsustainable levels.
    Show me RE market in this country that has dropped less than 10%.

  59. yikes says:

    Stu says:
    August 2, 2009 at 2:18 pm

    Frank the racist says:

    Frank says:
    July 18, 2009 at 4:24 pm

    #330,
    Will this replace the dots on their heads??

    one of many. nice pull, Stu. I should have bookmarked all of his transgressions, but i usually only bookmark the good stuff.

    (like this one)

    http://njrereport.com/index.php/2008/10/17/weekend-open-discussion-135/#comment-231492

  60. john for president says:

    yikes (59) from that same thread, a classic john post:

    “Beafsteask Charlies all you can eat salad bar and all you can drink beer and order the cheapest thing on menu. They used to put unpealed shrimp in there to slow you down so we used to bring pledges with us and have them fill up bowls at a time and their job was just to peal and throw it at us like walruses in the circus. Beefsteak even used to have an all you could eat steak night. Well ten of use went there starving skipped the salad and beer and soda and found out it is not all you can eat steak as they cut us off at nine each. Well when we started to cause a huge scence that it was fraud and we are calling the cops the manager pulled out a big knife and told us we should cause after eating 90 of his steaks if we did not leave right now he was going to stab us to death. There is no reasoning with that type of man so we decided to leave.”

  61. EWellie says:

    Stu,

    I guess Frank has never been called a racist because in his daily travels he doesn’t let other people get a word in edgewise.

  62. Stu says:

    Racism aside…Frank is a buffoon.

  63. EWellie says:

    True.

    Back on topic, back in 2003 my husband I briefly looked in Hunterdon County. I knew then it wasn’t for me, although everyone was trying to convince us it was “up and coming.” Well, six years on, it’s still the middle of nowhere. I’m happy that was only a near miss.

    Granted, it is very pretty, we just need more close by in the way of restaurants and culture.

  64. Shore Guy says:

    Comp killers? How can this be? We hit bottom and prices have no place to go but up, right?

  65. Shore Guy says:

    Fiddy,

    I know a guy who, itturns out, wrote this book that I am told by some other folks is some kind of bible of Beaatles equipment. I don’t recall the name off hand, maybe Beatles Gear, but it is supposed to be pretty interesting. Do you know the book I am talking about?

  66. Shore Guy says:

    “there is nothing for me in the American political spectrum. Fiscal conservatism is hopeless married to religious zealotry and progressive thought can’t be pried away from collectivism.”

    I want this on a sign for my office wall.

    I was talking with a Republicansenator one day about the state of the party and how the far-right hand keeps slapping the right hand of the party and is going to drive away the moderates, who are more comfortable with the middle of the Road. His response? Here goes: “there is nothing in the middle of he road but yellow lines and dead animals.”

  67. Shore Guy says:

    NJC,

    How are you making out today with the weather?

  68. Pol Clot says:

    Barb (56)-

    Not a school team. An academy select team.

    Stu (57)-

    They won the first; we won the second. We won the second because we were ready for their shady tactics.

  69. Barbara says:

    Shoreguy,
    in this country we choose to take the position of resenting our govt instead of owning it. Its a woe is me sideliners mentality and everyone likes being the underdog. Its immature and a little retarded.

  70. willwork4beer says:

    #63 EWellie

    You’re right. Hunterdon is not “up and coming”. Neither is it hot, nor is it trendy.

    When Hunterdon becomes trendy, I will be long for the door.

  71. Shore Guy says:

    Will work,

    Is Spaten a decent dark beer?

  72. Shore Guy says:

    I just watched an osprey fly overhead carrying a fish. It looked like a float plane.

    First time this summer I have seen that.

  73. yo'me says:

    WASHINGTON – President Barack Obama’s treasury secretary on Sunday said he cannot rule out higher taxes to help tame an exploding budget deficit and his chief economic adviser would not dismiss raising them on middle-class Americans as part of a health care overhaul
    WASHINGTON – President Barack Obama’s treasury secretary on Sunday said he cannot rule out higher taxes to help tame an exploding budget deficit and his chief economic adviser would not dismiss raising them on middle-class Americans as part of a health care overhaul

  74. willwork4beer says:

    Shore

    I like both the Munich Dunkel and the Optimator (doppelbock). Its not the best out there, but its very nice and its inexpensive.

  75. willwork4beer says:

    Shore

    Definitely try the Dunkel (dark) if you can find it on draft. Had some a while back and was quite satisfied.

  76. yo'me says:

    The Obama administration wants to see 500,000 trial modifications in place by Nov. 1. Currently, 200,000 are underway.

    Officials called executives from 25 servicers participating in the program to Washington Tuesday to discuss improving the 5-month-old plan’s implementation.

    http://money.cnn.com/2009/07/28/news/economy/Obama_loan_modification/index.htm?postversion=2009072819

  77. GerryAdams says:

    I’d recommend an Irish or English Stout. The local brew pub in Berkley Heights sells half-gallon growlers for $10. Nothing beats hand-pumped fresh stout.

    http://www.traprockrestaurant.net/menu-beer.htm

    This week – Yankee Porter.

  78. yo'me says:

    New YorkForeclosure rate: One for every 211 housing units
    Change from 2008: Down 23.5%

    Mortgage delinquencies have not plagued New York as much as most other cities. Gotham has several factors going for it that help fend foreclosures off.

    Home prices have kept their gains fairly well. New York prices are off 21% from their peak, according to the S&P/Case-Shiller home price index.

    Homeowner tenure is also a positive. Many New Yorkers have lived there for years and have amassed considerable home equity. And New York is a global city, which tends to prop up demand by attracting international buyers, according to First American’s Mark Fleming. “That can help moderate housing markets,” he said.

    New York is also more stable because of the large number of co-op apartments. Co-op boards often require buyers to make down payments of 20% or more before approving sales, providing big equity cushions to fall back on.

    Future foreclosure risk: Medium. “Really tough to read at the moment,” said Fleming. “New York may just be lagging the rest of the country.” But the city’s economic diversity, its international appeal and growing financial market stability could reduce foreclosure risk

  79. yo'me says:

    BostonForeclosure rate: One for every 144 housing units
    Change from 2008: Down 40.7%

    Boston was one of the earliest cities to record a home price decline. The market peaked in the summer of 2005, according to the S&P/Case-Shiller Home Price index, and tumbled about 20%. Recovery is probably further along here than anywhere else, according to Fleming.

    Prices are inching up again, which will encourage homeowners to hang tough by adding value to their investments. Plus, in old, established cities like Boston, many homeowners have lots of home equity from years of paying down mortgages.

    Future foreclosure risk: Low. Boston’s delinquency rate is lower than the national average but has grown recently, according to First American CoreLogic, to 5.6% for the 90 day period through June. However, the bank owned properties are selling well — the number on the market has fallen almost in half over the past 12 months.

    http://money.cnn.com/galleries/2009/real_estate/0907/gallery.Big_city_changes_in_foreclosure_rates/4.html

  80. willwork4beer says:

    #79 Gerry

    In August, I would probably opt for the Helles or the Schroeder Weiss. I usually drink darker beers in colder months.

  81. Shore Guy says:

    ” and his chief economic adviser would not dismiss raising them on middle-class Americans as part of a health care overhaul”

    But only the middle class earning over $250m/yr AGI, right B.O?

    What was his line (apparently as truthful as the lines used at bars across the globe) he spouted in the campaign about not a penny in higher taxes for those earning less than $250,000 AGI/yr. Oops, I guess he DID tell the truth as I doubt the taxes will go up just one penny. More like thousands or tens of thousands of pennies.

  82. willwork4beer says:

    #79 Gerry

    Currently in my glass, Weyerbacher Zotten, Belgian style pale ale. Very similar to the Schroeder.

  83. Shore Guy says:

    Is that a hoppy brew?

  84. Shore Guy says:

    hundreds of thousands, even.

  85. willwork4beer says:

    #85 Shore

    If you mean the Zotten, its a bottle conditioned ale, so its a bit yeasty due to yeast added at bottling. It doesn’t really have a big hop character, like an IPA.

  86. Pol Clot says:

    Barb (69)-

    I don’t resent my gubmint. I want to overthrow it. Unfortunately, no one will join me.

  87. Pol Clot says:

    yo (78)-

    It’ll be a cold day in hell before that happens. What will happen is yet another branch of the financial community pulling a fast one on O, who they have made their byatch.

  88. frank says:

    #62,
    I would call buffoon a guy that shorts a stock that pays 14% dividend and its assets are guaranteed by the US government.

  89. Shore Guy says:

    I will take yeast flavor over hopps any day.

  90. Shore Guy says:

    Hops.

  91. chicagofinance says:

    Beefsteak Charlie’s?

    I have this memory of Ponderosa seared into my brain. Spaghetti, chocolate pudding and steak on the same plate for $2.99.

  92. Shore Guy says:

    Chifi,

    Hearing that, I am glad we were too poor to eat out when that place was popular.

  93. Yikes says:

    Shore guy, you doing the Roth conversion?

  94. Shore Guy says:

    You mean the onetime transfer from regular IRA to Roth?

  95. Shore Guy says:

    From WTOP in Chicago. This is a very sad statement about Americans’ knowledge about our own governmant and provides some insight as to why we elect to people “we” do:

    Retired justice urges rebirth of civic education
    Aug 1st – 6:48pm
    By MIKE ROBINSON AP Legal Affairs Writer
    CHICAGO (AP) – Retired Supreme Court Justice David Souter urged the nation’s lawyers Saturday to help revitalize civic education, warning that the failure of many Americans to understand how the government works poses a serious threat.
    “There is a danger to judicial independence when people have no understanding of how the judiciary fits into the constitutional scheme,” Souter said in his keynote address to the American Bar Association’s annual meeting.
    Souter pointed to a poll showing two-thirds of Americans can’t name the three branches of government _ executive, legislative and judicial. He said that has to change to keep the nation’s judges independent of political pressures.
    “We cannot stand up for the judiciary by leaving two-thirds of the American people ignorant that there are three branches,” he said

    snip

  96. veto that says:

    Thanks for the comp killers! great work…

    I’m still frustrated that 18% from peak is the best we can do in nj.

    Wife and i spent all weekend looking at homes. We still cant afford anything decent without going 4 or 5x income and we are both holding graduate degrees, making incomes well above avg.

    Tempted to start looking in s dakota where our downpayment alone can buy a mc mansion on a 6 acre corn farm.

  97. BC Bob says:

    “You can’t fight the market. Buyers can wait longer than sellers can remain solvent. Period.”

    Clot,

    Please, stop talking sense.

  98. BC Bob says:

    “if you have a very old car worthing much less than $4500. it’s a good deal.”

    bi,

    How about your pos blackbox. Does that qualify?

  99. bi says:

    101#, some folks here must be regret they didn’t listen to my pos blackbox in january. instead they subscribed mm’s china riot playbook.

    http://finance.yahoo.com/echarts?s=FXP#chart4:symbol=fxp;range=ytd;compare=srs;indicator=volume;charttype=candlestick;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

  100. BC Bob says:

    #34,
    Racist??? where did that come from?? I have been called all sorts of names but not this one. Call me anything you want, but so far I have been correct.

    Frank,

    You dolt. You bought the freakin top of the greatest bubble in the last 2,000 years. Somewhere P.T. Barnum is spinning.

    Do us a favor, let us all now when you blow cookies.

  101. BC Bob says:

    “101#, some folks here must be regret they didn’t listen to my pos blackbox in january.”

    bi,

    I’m glad I went the other way; 650 gold, 10% appreciatin in RE, no more writedowns, etc.. Like I said, get in line for the clunkers program.

  102. BC Bob says:

    19 months, present day, 33% decline in world trade. 1929-1933, 25% decline in world trade.

    Trillions in stimulus. Result? Decline is consumer spending.

    Buckle up. Everything that dies someday comes back.

  103. BC Bob says:

    Not to worry, change has come to DC.

  104. BC Bob says:

    Time for the Boss;

    My City’s in Ruin’s, Trapped, Hard Times or The Rising?

  105. bi says:

    104#, on a relative basis, RE appreciated more than 10% compared to other assets. you cannot trade write-down or not write-down, so please leave that alone. gold? so far i admit it’s a biggest miss. but you should be happy if it goes to there since it means you are smartly hedge. what makes you uneasy is the current situation: it bounds back and forth between 900 and 1000 so your premium is wasted. agree?

  106. Pol Clot says:

    bi (102)-

    Ask the Uighurs about how that China riot thingy is working out for them.

  107. Pol Clot says:

    BC (106)-

    Yeah, some change. Now, the dope-in-charge is the only guy in the room who doesn’t realize he’s a tool.

    “Not to worry, change has come to DC”

  108. Pol Clot says:

    I will give $500 to anyone who can decipher #108.

  109. bi says:

    109#, the problem is that that kind of riots has little to do with your bet. in a country with 1.5 billion people and uneven structure, i think they have managed “stability” pretty well.

  110. BC Bob says:

    “I will give $500 to anyone who can decipher #108.”

    Clot,

    I’ll step up to the plate;

    1980-1990; “Poor man wanna be rich”

    1990-2000; “Rich man wanna be king”

    2000-2006; “King ain’t satisfied till he owns everything”

    2006-??; King is overthrown; “Meet me in the Land of Hope and Dreams”

  111. BC Bob says:

    900-1000, premium wasted? Knock, Knock?

    Six years, up 300% cash basis. Futures leverage, 100-1. Premium wasted? If you were hedged at 1,520, S&P, would you have wasted your premium?

    Better ask questions before you shoot.

    Blow up that damn blackbox.

  112. Pol Clot says:

    I just like posting stuff from Mikey, because he pisses off so many people here:

    “Out of one side of his mouth Tim the Tax Cheat has insisted that the economic collapse is not going to happen.

    And out of his butt he pulled this flip flop:

    ‘We will not get this economy back on track, recovery will be not strong and sustained, unless we . . . can convince the American people that we’re going to have the will to bring these deficits down once recovery is firmly established.” he said.’

    . . . He warned, however, that emergency steps, including the bailout plan last year and the economic stimulus bill this year, are expanding the federal budget deficit to unsustainable levels.

    “We will not get this economy back on track, recovery will be not strong and sustained, unless we . . . can convince the American people that we’re going to have the will to bring these deficits down once recovery is firmly established.” he said.

    Here’s a guy that is so deep in the pockets of Goldman Sachs and the Gang of Banksters, that he has just admitted we are toast . . . because the federal budget deficit is still growing as Washington continues to hand out $100 billion to the Banksters for every few scraps they hand out to Americans in the form of detrimental Cash for Clunkers, Help Save Homeowners, etc.

    Two problems here. We refuse to accept the consequences of what we let the Banksters do over the last 10 years, and we continue to behave like a crack addict. Moreover, we allow criminals like Tim the Tax Cheat, Chris “Mortgage Fraudster” Dodd and ObamaRamaLamas run the show. They’re still idolizing King Henry and his trillion dollar hand out to the Banksters.

    Just wait until the financial markets unravel, because this time Goldman Sachs and the other Banksters have raided your pension funds, government funds and more.

    Wake Up America!”

    http://realestateandhousing2.blogspot.com/2009/08/tim-tax-cheat-geithner-unsustainable.html

  113. willwork4beer says:

    #111 Clot

    I thought it was the Weyerbachers.

  114. Pol Clot says:

    BC (114)-

    He should do us all a favor by shooting the blackbox, then shooting himself.

  115. Pol Clot says:

    bi (112)-

    So you’re saying that state-sponsored genocide doesn’t qualify as rioting for your purposes?

    I’m back to ignoring you. You and Frank should go have a three-way with your blackbox.

  116. BC Bob says:

    “104#, on a relative basis, RE appreciated more than 10% compared to other assets. you cannot trade write-down or not write-down, so please leave that alone.”

    bi,

    Does that mean; party like its 1999?

    Clot,

    Any extra Knob Creek?

  117. Stu says:

    bi,

    Managed stability? Is that your way of saying that their decision to ban search engines in their country is justifiable? Their market is frothing over the rim as it is so over valued. You have read the reports of massive commercial and residential vacancies in their cities. It is only a matter of time before their whole house of Pai Gow cards comes collapsing down. Keep on with your impatience. I would opt to make another bet with you, but you have already proven yourself to be a gentleman of the lowest stature. I hold you in about as high regard as a blood thirsty mosquito infected with the Nile virus.

  118. Pol Clot says:

    BC (119)-

    I think I’m going off the Knob Creek.

    Time to break out the absinthe.

    I’m also putting away your #113 in a safe place. It will be fun to look at it in a couple of years.

  119. bi says:

    118#, where did you get this? what i read is the conflict bewteen 2 ethnic groups. i think its your arrogance made you lose shirts on srs, skf, tbt, gdx and etc.

    >So you’re saying that state-sponsored genocide doesn’t qualify as rioting for your purposes?

  120. BC Bob says:

    “We will not get this economy back on track, recovery will be not strong and sustained, unless we . . . can convince the American people that we’re going to have the will to bring these deficits down once recovery is firmly established.” he said.

    Clot,

    I can interpret bi’s slop easier than Timmy’s?

  121. Pol Clot says:

    bi-

    Opening night at the Venetian, Macau:

    http://eblog.macau.com/wp-content/gallery/archive-2007/venetian_macao_casino_grand_opening.JPG

    You missed a helluva party.

    Moron.

  122. Pol Clot says:

    BC (123)-

    I can’t summon the same level of hatred for bi as I can for Timmay.

    Call me soft…

  123. bi says:

    120#, stu, i know you lost shirts on fxp. that’s not my fault. morally i don’t think it’s right to ban search engine and to do other stuff to limit freedom on their own citizens. but business is business. market is market. when fxi was down over 60% from its high, it was risk to take short position. don’t be too upset. iam always cool here when talking money issues.

  124. Stu says:

    About this cash for clunkers program (crumbs for the masses). Are there really THAT many Americans driving cars that get less than 18 mpg?

    Is it me, or this program seeing success just like the complete BS employee pricing event did a few years back? Americans really tend to be complete morons.

  125. Stu says:

    Question for the experts here as Gator and I are slowly approaching our time to buy again next year.

    We have tons of credit cards (due to our frugality and use of rewards programs) none with balances of course. When applying for a mortgage (for a second home in our case), is it better to have more active credit available to you versus having less active credit.

    I recall reading somewhere that one should make at least one credit card purchase each 6 months to make your credit card credit active which then adds to the amount of available credit used by the mortgage lenders when considering you for a loan.

    Is it better to have more or less unused credit card credit availability when applying for a difficult loan?

    Of course our credit scores and financial situation is good, but we are looking to make the absolutely smallest downpayment possible so we can walk away if need be :P

  126. BC Bob says:

    “market is market”

    Yes, there was a time that this was true.

    Down in Jungleland?

  127. Barbara says:

    128.
    stu, same boat and will wait for answers

  128. Barbara says:

    stu, just reread you post, missed the last paragraph. Wow, you guys could be us. 5 years ago I wanted to buy all cash, now I want all finance with your reasoning in mind.

  129. BC Bob says:

    Can’t be? Paulson, not Hank? The same individual that made billions shorting the crap? Did he apply for Tarp? Maybe a bank holding co.? Doesn’t he know that gold just sits there and does nothing? In addition to this, where’s inflation, John?

    “As of the end of the first quarter, Paulson was the largest holder of SPDR Gold Trust, an investment fund that buys gold bullion. The New York-based firm owned 8.7 percent of the fund, valued at $2.8 billion as of March 31, according to a filing with the U.S. Securities and Exchange Commission.”

    http://www.bloomberg.com/apps/news?pid=20601110&sid=a5pBM08jxvlE

  130. Stu says:

    Barb,

    My gut and minor research tells me that less active lines of credit is better, but I’d like to hear confirmation.

  131. Firestormik says:

    Stu,
    I played with “what if” credit score calculator at privacyguard.com a little bit and found if I cancel any one of my 6 card, my credit score will go up 1 or 2 pts – really nothing. I believe having available credit too low is actually bad for your mogtgage application since it’s limiting your ability to temporary tap your credit cards if SHTF

  132. Stu says:

    thanks firestorm.

    If I tapped all of my credit card availabilty, it’s probably somewhere around 400K. Crazy! I canceled one Citi Card about 4 years ago with over a $100,000 credit line. This was my first credit card and I had a 19 year credit history on it. At the time, I was not aware of the damage it would do to my credit score due to the length of the credit history. Damn near dropped my score 30 to 40 points. Well, lesson learned. I only canceled it on principal over a change in a certain reward program. I suppose this time, they won.

  133. Firestormik says:

    Stu,
    That’s crazy! My total is around 45K and I consider it too much. If you have more than 7 cards, you should consider cancel some.
    That’s what privacyguard is saying about my credit history. My current avarage score is 785 between 3 agencies (deviation is 1 point)
    About your Credit Score:
    Your credit scores are based on the information in your credit bureau reports. The majority of Personal Credit Scores are between 350 and 850. Higher scores are better, because they increase your chances of getting the loans you want. Keep in mind that when lenders evaluate a credit application, credit scores are not the only factor they use in making their decision. They usually ask for additional information (such as income and monthly payments) to determine your ability to repay the loan.
    What your Credit Score means:
    Thanks to your very high Personal Credit Score, you are likely to get the best offers from lenders. The distinction between offers will come from the additional information you provide as part of your credit application, such as income and monthly payments. This information will determine whether you get the lowest interest rates, highest credit limits and loan amounts, and other special features.
    What this Means to You:
    Both negative and positive factors influence your credit score. The most important factors of each are listed below, in their order of importance. Remember, these factors vary in how strongly they impact your credit score. For example, if you have a very high credit score, the negative factors in your analysis are likely to have a small impact. The same is true for positive factors if you have a very low credit score.
    What factors lower your credit score:
    Length of credit history : You opened your first credit account 7 years and 10 months ago.
    This may not include accounts you closed more than 7 years ago.
    This is making your score lower. Having had credit accounts for a long time is a positive factor because your credit history allows lenders to evaluate how you typically use credit and repay your debts. Credit reports with approximately 30 years of history are considered optimal. Meanwhile, up to 7 years of history may be considered short, and less than 3 years of history is often considered too little. It is worth noting that your accounts may have been open longer than your credit reports suggest, as lenders can be slow to report new accounts to the credit bureaus. What matters is how long your accounts have been recorded in your reports.

    Credit usage : You currently owe $896 on your revolving account(s).

    This is making your score lower. High balances are a negative factor because lenders worry that you are living beyond your means and may not be able to repay them. This is particularly true with credit card balances, but less a concern with installment loans such as mortgages and auto loans. Lenders evaluate how much you owe (your debt) in relation to how much you earn (your income), however they know that changes in your employment and certain life events (such as divorce or illness) may make it hard to pay your bills. Low balances, on the other hand, are a positive factor because lenders do not stand to lose as much if you become unable to repay them. However, never using your credit accounts may be considered a negative factor. This is because it does not provide lenders with information about how you typically use credit and repay your debts.

    Length of credit history : You opened your first credit account 7 years and 10 months ago.
    This may not include accounts you closed more than 7 years ago.
    This is making your score lower. Having had credit accounts for a long time is a positive factor because your credit history allows lenders to evaluate how you typically use credit and repay your debts. Credit reports with approximately 30 years of history are considered optimal. Meanwhile, up to 7 years of history may be considered short, and less than 3 years of history is often considered too little. It is worth noting that your accounts may have been open longer than your credit reports suggest, as lenders can be slow to report new accounts to the credit bureaus. What matters is how long your accounts have been recorded in your reports.

    Credit usage : You currently owe $896 on your revolving account(s).

    This is making your score lower. High balances are a negative factor because lenders worry that you are living beyond your means and may not be able to repay them. This is particularly true with credit card balances, but less a concern with installment loans such as mortgages and auto loans. Lenders evaluate how much you owe (your debt) in relation to how much you earn (your income), however they know that changes in your employment and certain life events (such as divorce or illness) may make it hard to pay your bills. Low balances, on the other hand, are a positive factor because lenders do not stand to lose as much if you become unable to repay them. However, never using your credit accounts may be considered a negative factor. This is because it does not provide lenders with information about how you typically use credit and repay your debts.

    What factors raise your credit score:
    Payment history : You have never missed a payment, and no negative public records are listed on your report.

    This is making your score higher. Missing payments is a negative factor. Some cases are worse than others. If you have not missed any payment recently, lenders may think you are, or have become, responsible and do not, or will no longer, miss payments. Lenders realize that many people occasionally miss a payment or pay late. Therefore, missing payments on one account may not be as harmful as missing payments on many. Similarly, missing a single payment may not be as harmful as missing several consecutive payments. Note that many lenders consider missing 3 or more consecutive payments to be an indication that you may never repay them. Finally, it may not be as harmful to miss payments on accounts with low balances as it is on accounts with high balances, because lenders stand to lose less money if they remain unpaid.

    Credit applications : You did not apply for credit in the past 6 months, as recorded in this credit report.

    This is making your score higher. Applying for credit many times within a short period can hurt your credit score. When you apply for any type of credit (such as an auto loan, credit card, department store card, or mortgage), the lender considering your credit application checks your credit history. This is recorded in your credit report as a “hard inquiry.” Although inquiries are an unavoidable result of applying for credit, lenders dislike seeing many within a short period (such as 6 months). This is because they do not know whether you are “shopping” for the best offer, or if you are desperately trying to get credit because of financial trouble.

    Credit accounts : You have 8 revolving account(s) listed in your credit report.

    This is making your score higher. Having accounts listed in your credit reports is a positive factor because the accounts’ payment history shows lenders how you pay your bills. However, having too many accounts may be considered a negative factor because lenders worry that you are spending (or preparing to spend) beyond your means, even if you have never missed payments. Also, if you do not currently have credit, getting your first few credit cards may be difficult and may involve high fees, high interest rates, and low credit limits. Note that finance trades (such as debt consolidation accounts) are often associated with troubled credit, and may therefore be considered a negative factor.

    Payment history : You have never missed a payment, and no negative public records are listed on your report.

    This is making your score higher. Missing payments is a negative factor. Some cases are worse than others. If you have not missed any payment recently, lenders may think you are, or have become, responsible and do not, or will no longer, miss payments. Lenders realize that many people occasionally miss a payment or pay late. Therefore, missing payments on one account may not be as harmful as missing payments on many. Similarly, missing a single payment may not be as harmful as missing several consecutive payments. Note that many lenders consider missing 3 or more consecutive payments to be an indication that you may never repay them. Finally, it may not be as harmful to miss payments on accounts with low balances as it is on accounts with high balances, because lenders stand to lose less money if they remain unpaid.

  134. Kim says:

    Housing bust is over! At least according to the Daily Record.

    Welcome to the bottom: Housing begins slow rebound
    http://www.dailyrecord.com/article/20090802/UPDATES01/90801019

    Morris home sales rebound
    http://www.dailyrecord.com/article/20090802/COMMUNITIES/90801011&referrer=FRONTPAGECAROUSEL

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