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Aecetia
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October 10, 2008 at 11:11 AM in reply to: When do home sellers wakeup and drop their prices? #285134ParticipantI agree, but I have seen some softening. When the next group of loans starts resetting and/ or jobs dry up, then you will see some changes. There were 5 foreclosures in my neighborhood, but all but one has been sold. They looked like inside deals. No one really lost big. The last one was from a flipper par excellence- 11+ down town condos. They put a lot of money into the house and it was worth over a million, so I really do not see the bank willing to lose that much money on it. However, if they do, that will reset all our comps. It is a matter of time before the real bloodletting starts.
October 10, 2008 at 11:11 AM in reply to: When do home sellers wakeup and drop their prices? #285424ParticipantI agree, but I have seen some softening. When the next group of loans starts resetting and/ or jobs dry up, then you will see some changes. There were 5 foreclosures in my neighborhood, but all but one has been sold. They looked like inside deals. No one really lost big. The last one was from a flipper par excellence- 11+ down town condos. They put a lot of money into the house and it was worth over a million, so I really do not see the bank willing to lose that much money on it. However, if they do, that will reset all our comps. It is a matter of time before the real bloodletting starts.
October 10, 2008 at 11:11 AM in reply to: When do home sellers wakeup and drop their prices? #285446ParticipantI agree, but I have seen some softening. When the next group of loans starts resetting and/ or jobs dry up, then you will see some changes. There were 5 foreclosures in my neighborhood, but all but one has been sold. They looked like inside deals. No one really lost big. The last one was from a flipper par excellence- 11+ down town condos. They put a lot of money into the house and it was worth over a million, so I really do not see the bank willing to lose that much money on it. However, if they do, that will reset all our comps. It is a matter of time before the real bloodletting starts.
October 10, 2008 at 11:11 AM in reply to: When do home sellers wakeup and drop their prices? #285468ParticipantI agree, but I have seen some softening. When the next group of loans starts resetting and/ or jobs dry up, then you will see some changes. There were 5 foreclosures in my neighborhood, but all but one has been sold. They looked like inside deals. No one really lost big. The last one was from a flipper par excellence- 11+ down town condos. They put a lot of money into the house and it was worth over a million, so I really do not see the bank willing to lose that much money on it. However, if they do, that will reset all our comps. It is a matter of time before the real bloodletting starts.
October 10, 2008 at 11:11 AM in reply to: When do home sellers wakeup and drop their prices? #285477ParticipantI agree, but I have seen some softening. When the next group of loans starts resetting and/ or jobs dry up, then you will see some changes. There were 5 foreclosures in my neighborhood, but all but one has been sold. They looked like inside deals. No one really lost big. The last one was from a flipper par excellence- 11+ down town condos. They put a lot of money into the house and it was worth over a million, so I really do not see the bank willing to lose that much money on it. However, if they do, that will reset all our comps. It is a matter of time before the real bloodletting starts.
ParticipantI think you will see a lot of civilianization, down sizing, right sizing, out sourcing (where possible) and ultimately regionalization where there are duplicate and over lapping responsibilities. Regional law enforcement and fire fighting would make more sense than every municipality having its own small army. The overhead costs of administration are egregious and the taxpayers are not getting the kind of service they pay for in many cases. Many agencies will not send an officer out to take a report in certain cases, but instead have the “victim” drive to the station or call in the report. Some of these cost savings make a lot of sense, but it also is a way of scaling back service to cut costs. The costs are up and the service is down.
ParticipantI think you will see a lot of civilianization, down sizing, right sizing, out sourcing (where possible) and ultimately regionalization where there are duplicate and over lapping responsibilities. Regional law enforcement and fire fighting would make more sense than every municipality having its own small army. The overhead costs of administration are egregious and the taxpayers are not getting the kind of service they pay for in many cases. Many agencies will not send an officer out to take a report in certain cases, but instead have the “victim” drive to the station or call in the report. Some of these cost savings make a lot of sense, but it also is a way of scaling back service to cut costs. The costs are up and the service is down.
ParticipantI think you will see a lot of civilianization, down sizing, right sizing, out sourcing (where possible) and ultimately regionalization where there are duplicate and over lapping responsibilities. Regional law enforcement and fire fighting would make more sense than every municipality having its own small army. The overhead costs of administration are egregious and the taxpayers are not getting the kind of service they pay for in many cases. Many agencies will not send an officer out to take a report in certain cases, but instead have the “victim” drive to the station or call in the report. Some of these cost savings make a lot of sense, but it also is a way of scaling back service to cut costs. The costs are up and the service is down.
ParticipantI think you will see a lot of civilianization, down sizing, right sizing, out sourcing (where possible) and ultimately regionalization where there are duplicate and over lapping responsibilities. Regional law enforcement and fire fighting would make more sense than every municipality having its own small army. The overhead costs of administration are egregious and the taxpayers are not getting the kind of service they pay for in many cases. Many agencies will not send an officer out to take a report in certain cases, but instead have the “victim” drive to the station or call in the report. Some of these cost savings make a lot of sense, but it also is a way of scaling back service to cut costs. The costs are up and the service is down.
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