North Park

[jpinpb]

I wouldn’t do it. But it’s close to the Market Overview. But I have been seeing a few of these kind of sales lately.

As HLS said, I think there is a little pressure on some buyers b/c they want the 8k incentive before it runs out and many people qualify under 500k, particular FHA, and b/c media is somewhat painting a better picture of things being bottom. Many are falling under that mentality that they are going to get priced out again.

All the money the government has spent has succeeded at least for now to stablize prices somewhat, rather than a freefall.

Now last night I just went through a list of NODs in over 10 ZIPs. There doesn’t seem to be much let-up. My question: What’s going to happen to all the NODs? Will they ALL get modified? Will the banks let them squat for years until we get back to peak? Will the government give more money so as to absorb the losses so banks can foreclose?

Mish – Wave of foreclosure seems to suggest really 5 states are the worst performing re markets. How long can the rest of the country shell out money for 5 states?

[Irish]

This little “updated” Craftsman is in a decent area of Northpark and should rent for $1500 or so per month.
If you do the math, and apply a GRM of 10 then the place would value about $180k.
During the recent bubble the GRM’s went nuts to over 20 and sales price became completely disconnected from the fundamentals.
I think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.

[Irish]

This little “updated” Craftsman is in a decent area of Northpark and should rent for $1500 or so per month.
If you do the math, and apply a GRM of 10 then the place would value about $180k.
During the recent bubble the GRM’s went nuts to over 20 and sales price became completely disconnected from the fundamentals.
I think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.

[Irish]

This little “updated” Craftsman is in a decent area of Northpark and should rent for $1500 or so per month.
If you do the math, and apply a GRM of 10 then the place would value about $180k.
During the recent bubble the GRM’s went nuts to over 20 and sales price became completely disconnected from the fundamentals.
I think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.

[Irish]

This little “updated” Craftsman is in a decent area of Northpark and should rent for $1500 or so per month.
If you do the math, and apply a GRM of 10 then the place would value about $180k.
During the recent bubble the GRM’s went nuts to over 20 and sales price became completely disconnected from the fundamentals.
I think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.

[Irish]

This little “updated” Craftsman is in a decent area of Northpark and should rent for $1500 or so per month.
If you do the math, and apply a GRM of 10 then the place would value about $180k.
During the recent bubble the GRM’s went nuts to over 20 and sales price became completely disconnected from the fundamentals.
I think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.

[blahblahblah]

I think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.

I would agree if I believed that we were going back to the days before massive government intervention in the housing and MBS markets and the packaging/selling of mortgages as securities in the MBS market. Those two factors alone are responsible for the housing bubble more than anything else. If banks actually had to carry mortgages again, 20% down would be de rigeur. Is that going to happen? Your guess is as good as mine.

[blahblahblah]

I think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.

I would agree if I believed that we were going back to the days before massive government intervention in the housing and MBS markets and the packaging/selling of mortgages as securities in the MBS market. Those two factors alone are responsible for the housing bubble more than anything else. If banks actually had to carry mortgages again, 20% down would be de rigeur. Is that going to happen? Your guess is as good as mine.

[blahblahblah]

I think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.

I would agree if I believed that we were going back to the days before massive government intervention in the housing and MBS markets and the packaging/selling of mortgages as securities in the MBS market. Those two factors alone are responsible for the housing bubble more than anything else. If banks actually had to carry mortgages again, 20% down would be de rigeur. Is that going to happen? Your guess is as good as mine.

[blahblahblah]

I think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.

I would agree if I believed that we were going back to the days before massive government intervention in the housing and MBS markets and the packaging/selling of mortgages as securities in the MBS market. Those two factors alone are responsible for the housing bubble more than anything else. If banks actually had to carry mortgages again, 20% down would be de rigeur. Is that going to happen? Your guess is as good as mine.

[blahblahblah]

I think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.

I would agree if I believed that we were going back to the days before massive government intervention in the housing and MBS markets and the packaging/selling of mortgages as securities in the MBS market. Those two factors alone are responsible for the housing bubble more than anything else. If banks actually had to carry mortgages again, 20% down would be de rigeur. Is that going to happen? Your guess is as good as mine.

[zzz]

[quote=Irish]This little “updated” Craftsman is in a decent area of Northpark and should rent for $1500 or so per month.[/quote]

This house is not an updated Craftsman. More like updated shed or garage of a Craftsman turned into a house

[zzz]

[quote=Irish]This little “updated” Craftsman is in a decent area of Northpark and should rent for $1500 or so per month.[/quote]

This house is not an updated Craftsman. More like updated shed or garage of a Craftsman turned into a house

[zzz]

[quote=Irish]This little “updated” Craftsman is in a decent area of Northpark and should rent for $1500 or so per month.[/quote]

This house is not an updated Craftsman. More like updated shed or garage of a Craftsman turned into a house

[zzz]

[quote=Irish]This little “updated” Craftsman is in a decent area of Northpark and should rent for $1500 or so per month.[/quote]

This house is not an updated Craftsman. More like updated shed or garage of a Craftsman turned into a house

[Author]

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