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  • June 30, 2008 at 1:39 PM #231630
    Eugene
    Participant

    Don’t worry, inventory does not drop 30% in one week, it’s just a glitch in their system.

    June 30, 2008 at 2:38 PM #231466
    peterb
    Participant

    Having lived through the last two real estate cycles in CA, I can say that this down trend is happening way faster and with far more severity!! Lenders are probably swamped with homes to process and not a lot of desire to get them on the market too quickly. Although an empty house probably represents a non-performing loan, it’s not recognized as a loss until it’s actually sold. Credit is contracting and unemployment is rising. I would not be in a hurry to buy right now. Those homes will eventually get to market and be cheaper than they would be now.

    June 30, 2008 at 2:38 PM #231588
    peterb
    Participant

    Having lived through the last two real estate cycles in CA, I can say that this down trend is happening way faster and with far more severity!! Lenders are probably swamped with homes to process and not a lot of desire to get them on the market too quickly. Although an empty house probably represents a non-performing loan, it’s not recognized as a loss until it’s actually sold. Credit is contracting and unemployment is rising. I would not be in a hurry to buy right now. Those homes will eventually get to market and be cheaper than they would be now.

    June 30, 2008 at 2:38 PM #231599
    peterb
    Participant

    Having lived through the last two real estate cycles in CA, I can say that this down trend is happening way faster and with far more severity!! Lenders are probably swamped with homes to process and not a lot of desire to get them on the market too quickly. Although an empty house probably represents a non-performing loan, it’s not recognized as a loss until it’s actually sold. Credit is contracting and unemployment is rising. I would not be in a hurry to buy right now. Those homes will eventually get to market and be cheaper than they would be now.

    June 30, 2008 at 2:38 PM #231639
    peterb
    Participant

    Having lived through the last two real estate cycles in CA, I can say that this down trend is happening way faster and with far more severity!! Lenders are probably swamped with homes to process and not a lot of desire to get them on the market too quickly. Although an empty house probably represents a non-performing loan, it’s not recognized as a loss until it’s actually sold. Credit is contracting and unemployment is rising. I would not be in a hurry to buy right now. Those homes will eventually get to market and be cheaper than they would be now.

    June 30, 2008 at 2:38 PM #231647
    peterb
    Participant

    Having lived through the last two real estate cycles in CA, I can say that this down trend is happening way faster and with far more severity!! Lenders are probably swamped with homes to process and not a lot of desire to get them on the market too quickly. Although an empty house probably represents a non-performing loan, it’s not recognized as a loss until it’s actually sold. Credit is contracting and unemployment is rising. I would not be in a hurry to buy right now. Those homes will eventually get to market and be cheaper than they would be now.

    June 30, 2008 at 3:02 PM #231472
    little lady
    Participant

    ”
    Credit is contracting and unemployment is rising”

    This is what is blowing my mind…..I feel like it should feel like armegeddon right now.

    “Those homes will eventually get to market and be cheaper than they would be now.”

    This makes perfect sense to me, but, it doesn’t seem like inventory is reflecting this,….and these idiots keep buying………

    I think esmith is right…….maybe it is a glitch……..

    June 30, 2008 at 3:02 PM #231592
    little lady
    Participant

    ”
    Credit is contracting and unemployment is rising”

    This is what is blowing my mind…..I feel like it should feel like armegeddon right now.

    “Those homes will eventually get to market and be cheaper than they would be now.”

    This makes perfect sense to me, but, it doesn’t seem like inventory is reflecting this,….and these idiots keep buying………

    I think esmith is right…….maybe it is a glitch……..

    June 30, 2008 at 3:02 PM #231603
    little lady
    Participant

    ”
    Credit is contracting and unemployment is rising”

    This is what is blowing my mind…..I feel like it should feel like armegeddon right now.

    “Those homes will eventually get to market and be cheaper than they would be now.”

    This makes perfect sense to me, but, it doesn’t seem like inventory is reflecting this,….and these idiots keep buying………

    I think esmith is right…….maybe it is a glitch……..

    June 30, 2008 at 3:02 PM #231642
    little lady
    Participant

    ”
    Credit is contracting and unemployment is rising”

    This is what is blowing my mind…..I feel like it should feel like armegeddon right now.

    “Those homes will eventually get to market and be cheaper than they would be now.”

    This makes perfect sense to me, but, it doesn’t seem like inventory is reflecting this,….and these idiots keep buying………

    I think esmith is right…….maybe it is a glitch……..

    June 30, 2008 at 3:02 PM #231653
    little lady
    Participant

    ”
    Credit is contracting and unemployment is rising”

    This is what is blowing my mind…..I feel like it should feel like armegeddon right now.

    “Those homes will eventually get to market and be cheaper than they would be now.”

    This makes perfect sense to me, but, it doesn’t seem like inventory is reflecting this,….and these idiots keep buying………

    I think esmith is right…….maybe it is a glitch……..

    June 30, 2008 at 4:38 PM #231486
    peterb
    Participant

    It probably is a glitch, but I have noticed that many homes that are going to auction have no notice on the property that would indicate this. Check out REDC’s website as they look to be one of the biggest real estate auctioneers in SoCal. Also check Bruce Norris’s web site as he is focused very sharply on the REO market and updates pretty regularly on the various shinanigans that lenders, real estate brokers and auctioneers are pulling. This is new ground for just about everyone and it’s showing.

    June 30, 2008 at 4:38 PM #231609
    peterb
    Participant

    It probably is a glitch, but I have noticed that many homes that are going to auction have no notice on the property that would indicate this. Check out REDC’s website as they look to be one of the biggest real estate auctioneers in SoCal. Also check Bruce Norris’s web site as he is focused very sharply on the REO market and updates pretty regularly on the various shinanigans that lenders, real estate brokers and auctioneers are pulling. This is new ground for just about everyone and it’s showing.

    June 30, 2008 at 4:38 PM #231618
    peterb
    Participant

    It probably is a glitch, but I have noticed that many homes that are going to auction have no notice on the property that would indicate this. Check out REDC’s website as they look to be one of the biggest real estate auctioneers in SoCal. Also check Bruce Norris’s web site as he is focused very sharply on the REO market and updates pretty regularly on the various shinanigans that lenders, real estate brokers and auctioneers are pulling. This is new ground for just about everyone and it’s showing.

    June 30, 2008 at 4:38 PM #231659
    peterb
    Participant

    It probably is a glitch, but I have noticed that many homes that are going to auction have no notice on the property that would indicate this. Check out REDC’s website as they look to be one of the biggest real estate auctioneers in SoCal. Also check Bruce Norris’s web site as he is focused very sharply on the REO market and updates pretty regularly on the various shinanigans that lenders, real estate brokers and auctioneers are pulling. This is new ground for just about everyone and it’s showing.

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