California Loan Modifications update

[Effective Demand]

[quote=SD Realtor] In fact I was reading just yesterday that the herioc Barney Frank wants lenders to EASE lending requirements. Good thing we have guys like him in office.[/quote]

While I agree that Barney Frank (or any politician) getting involved in underwriting standards is stupid. The issue itself is relatively minor regarding the vacancy factor of condos. The issues really affects new home builders more and they are using their muscle to get the people in their pockets to try and pressure Fannie/Freddie to switch their standards back.

For the general population interest rates and down payment sizes are much more relevant.

I’m also curious for the people offered deals on the 2nds if they had the money to take the deal.

[sdrealtor]

I can add at leasdt 1 definite yes.

[sdrealtor]

I can add at leasdt 1 definite yes.

[sdrealtor]

I can add at leasdt 1 definite yes.

[sdrealtor]

I can add at leasdt 1 definite yes.

[sdrealtor]

I can add at leasdt 1 definite yes.

[sdrealtor]

CA R
If you are out there here’s one for our wager. A house in one of our 3 categories will be closing on Monday for more than the house next door (larger with pool) and the house across the street (larger with view) sold a year ago. Looks like we hit bottom already;)
sdr

[sdrealtor]

CA R
If you are out there here’s one for our wager. A house in one of our 3 categories will be closing on Monday for more than the house next door (larger with pool) and the house across the street (larger with view) sold a year ago. Looks like we hit bottom already;)
sdr

[sdrealtor]

CA R
If you are out there here’s one for our wager. A house in one of our 3 categories will be closing on Monday for more than the house next door (larger with pool) and the house across the street (larger with view) sold a year ago. Looks like we hit bottom already;)
sdr

[sdrealtor]

CA R
If you are out there here’s one for our wager. A house in one of our 3 categories will be closing on Monday for more than the house next door (larger with pool) and the house across the street (larger with view) sold a year ago. Looks like we hit bottom already;)
sdr

[sdrealtor]

CA R
If you are out there here’s one for our wager. A house in one of our 3 categories will be closing on Monday for more than the house next door (larger with pool) and the house across the street (larger with view) sold a year ago. Looks like we hit bottom already;)
sdr

[CA renter]

[quote=sdrealtor]CA R
If you are out there here’s one for our wager. A house in one of our 3 categories will be closing on Monday for more than the house next door (larger with pool) and the house across the street (larger with view) sold a year ago. Looks like we hit bottom already;)
sdr[/quote]

There’s no doubt that we are seeing quite the run over the past year+. Please understand that I never disagreed with you about the activity levels, as we have been out there “on the streets” for years observing the market. I was saying in February of 2008 that activity was brisk and reminiscent of the bubble peak. I’ve also said since the beginning of our bubble-sitting venture that we’d have some massive rallies as we move through the cycle — some that will surprise even the most bullish spectators.

Unlike the bulls, though, I beleive it will be the duration of the downturn that will be the most surprising aspect of this cycle. IMHO, most people are thinking of this in “micro-cycle” terms whereas I think there is a much bigger macro-cycle that is unfolding.

We have until 2012 to see who’s correct, and I look forward to it, no matter who wins. 🙂

BTW, we’re BBQ’ing chicken right now, if you’re hungry. 🙂

[CA renter]

[quote=sdrealtor]CA R
If you are out there here’s one for our wager. A house in one of our 3 categories will be closing on Monday for more than the house next door (larger with pool) and the house across the street (larger with view) sold a year ago. Looks like we hit bottom already;)
sdr[/quote]

There’s no doubt that we are seeing quite the run over the past year+. Please understand that I never disagreed with you about the activity levels, as we have been out there “on the streets” for years observing the market. I was saying in February of 2008 that activity was brisk and reminiscent of the bubble peak. I’ve also said since the beginning of our bubble-sitting venture that we’d have some massive rallies as we move through the cycle — some that will surprise even the most bullish spectators.

Unlike the bulls, though, I beleive it will be the duration of the downturn that will be the most surprising aspect of this cycle. IMHO, most people are thinking of this in “micro-cycle” terms whereas I think there is a much bigger macro-cycle that is unfolding.

We have until 2012 to see who’s correct, and I look forward to it, no matter who wins. 🙂

BTW, we’re BBQ’ing chicken right now, if you’re hungry. 🙂

[CA renter]

[quote=sdrealtor]CA R
If you are out there here’s one for our wager. A house in one of our 3 categories will be closing on Monday for more than the house next door (larger with pool) and the house across the street (larger with view) sold a year ago. Looks like we hit bottom already;)
sdr[/quote]

There’s no doubt that we are seeing quite the run over the past year+. Please understand that I never disagreed with you about the activity levels, as we have been out there “on the streets” for years observing the market. I was saying in February of 2008 that activity was brisk and reminiscent of the bubble peak. I’ve also said since the beginning of our bubble-sitting venture that we’d have some massive rallies as we move through the cycle — some that will surprise even the most bullish spectators.

Unlike the bulls, though, I beleive it will be the duration of the downturn that will be the most surprising aspect of this cycle. IMHO, most people are thinking of this in “micro-cycle” terms whereas I think there is a much bigger macro-cycle that is unfolding.

We have until 2012 to see who’s correct, and I look forward to it, no matter who wins. 🙂

BTW, we’re BBQ’ing chicken right now, if you’re hungry. 🙂

[CA renter]

[quote=sdrealtor]CA R
If you are out there here’s one for our wager. A house in one of our 3 categories will be closing on Monday for more than the house next door (larger with pool) and the house across the street (larger with view) sold a year ago. Looks like we hit bottom already;)
sdr[/quote]

There’s no doubt that we are seeing quite the run over the past year+. Please understand that I never disagreed with you about the activity levels, as we have been out there “on the streets” for years observing the market. I was saying in February of 2008 that activity was brisk and reminiscent of the bubble peak. I’ve also said since the beginning of our bubble-sitting venture that we’d have some massive rallies as we move through the cycle — some that will surprise even the most bullish spectators.

Unlike the bulls, though, I beleive it will be the duration of the downturn that will be the most surprising aspect of this cycle. IMHO, most people are thinking of this in “micro-cycle” terms whereas I think there is a much bigger macro-cycle that is unfolding.

We have until 2012 to see who’s correct, and I look forward to it, no matter who wins. 🙂

BTW, we’re BBQ’ing chicken right now, if you’re hungry. 🙂

[Author]

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