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Allan from Fallbrook
ParticipantAlex_angel: I coach the son of a UT Sports writer. He covers the Chargers for the Trib.
ParticipantAlex_angel: I coach the son of a UT Sports writer. He covers the Chargers for the Trib.
ParticipantTG: Year End is going to be brutal for a lot of banks, and the pressure to start dumping REO inventory is going to become more pronounced.
Additionally, FASB 157 kicks in on the 15th of this month. This is the financial guideline requiring more transparency and new accounting rules for “off book” and off Balance Sheet transactions. This rule is going to put a huge spotlight on the billions of dollars worth of bad loans and over-leveraged CDO, CDS and MBS transactions that have occurred during the boom. This will trigger more write-downs, and thus more losses, and thus an even greater push to dump non- and sub-performing assets (including REOs in the case of banks).
According to a lot of folks in the banking and financing industries, banks are currently only listing about 25%+/- of their REO portfolio for fear of triggering a pricing crash. This is going to change very soon.
ParticipantTG: Year End is going to be brutal for a lot of banks, and the pressure to start dumping REO inventory is going to become more pronounced.
Additionally, FASB 157 kicks in on the 15th of this month. This is the financial guideline requiring more transparency and new accounting rules for “off book” and off Balance Sheet transactions. This rule is going to put a huge spotlight on the billions of dollars worth of bad loans and over-leveraged CDO, CDS and MBS transactions that have occurred during the boom. This will trigger more write-downs, and thus more losses, and thus an even greater push to dump non- and sub-performing assets (including REOs in the case of banks).
According to a lot of folks in the banking and financing industries, banks are currently only listing about 25%+/- of their REO portfolio for fear of triggering a pricing crash. This is going to change very soon.
ParticipantTG: Year End is going to be brutal for a lot of banks, and the pressure to start dumping REO inventory is going to become more pronounced.
Additionally, FASB 157 kicks in on the 15th of this month. This is the financial guideline requiring more transparency and new accounting rules for “off book” and off Balance Sheet transactions. This rule is going to put a huge spotlight on the billions of dollars worth of bad loans and over-leveraged CDO, CDS and MBS transactions that have occurred during the boom. This will trigger more write-downs, and thus more losses, and thus an even greater push to dump non- and sub-performing assets (including REOs in the case of banks).
According to a lot of folks in the banking and financing industries, banks are currently only listing about 25%+/- of their REO portfolio for fear of triggering a pricing crash. This is going to change very soon.
ParticipantTG: Year End is going to be brutal for a lot of banks, and the pressure to start dumping REO inventory is going to become more pronounced.
Additionally, FASB 157 kicks in on the 15th of this month. This is the financial guideline requiring more transparency and new accounting rules for “off book” and off Balance Sheet transactions. This rule is going to put a huge spotlight on the billions of dollars worth of bad loans and over-leveraged CDO, CDS and MBS transactions that have occurred during the boom. This will trigger more write-downs, and thus more losses, and thus an even greater push to dump non- and sub-performing assets (including REOs in the case of banks).
According to a lot of folks in the banking and financing industries, banks are currently only listing about 25%+/- of their REO portfolio for fear of triggering a pricing crash. This is going to change very soon.
ParticipantTG: WAIT! I agree with Bugs wholeheartedly. I would also add that there is a probable flood of REO properties about to hit the Temecula market fairly shortly.
Just for grins, I have been watching the pricing in Temecula and Murrieta, as well as keeping my ear to the ground as far as anecdotal information on housing goes.
Pricing has held in the tonier areas, such as Redhawk, but it is definitely starting to shift, and I think when it does go (such as when the banks really starting pushing REO inventory to clear the books), you will see pricing in the $100 to $120sf range.
There have been some fairly significant price drops here in Fallbrook, and in areas once thought immune.
ParticipantTG: WAIT! I agree with Bugs wholeheartedly. I would also add that there is a probable flood of REO properties about to hit the Temecula market fairly shortly.
Just for grins, I have been watching the pricing in Temecula and Murrieta, as well as keeping my ear to the ground as far as anecdotal information on housing goes.
Pricing has held in the tonier areas, such as Redhawk, but it is definitely starting to shift, and I think when it does go (such as when the banks really starting pushing REO inventory to clear the books), you will see pricing in the $100 to $120sf range.
There have been some fairly significant price drops here in Fallbrook, and in areas once thought immune.
ParticipantTG: WAIT! I agree with Bugs wholeheartedly. I would also add that there is a probable flood of REO properties about to hit the Temecula market fairly shortly.
Just for grins, I have been watching the pricing in Temecula and Murrieta, as well as keeping my ear to the ground as far as anecdotal information on housing goes.
Pricing has held in the tonier areas, such as Redhawk, but it is definitely starting to shift, and I think when it does go (such as when the banks really starting pushing REO inventory to clear the books), you will see pricing in the $100 to $120sf range.
There have been some fairly significant price drops here in Fallbrook, and in areas once thought immune.
ParticipantTG: WAIT! I agree with Bugs wholeheartedly. I would also add that there is a probable flood of REO properties about to hit the Temecula market fairly shortly.
Just for grins, I have been watching the pricing in Temecula and Murrieta, as well as keeping my ear to the ground as far as anecdotal information on housing goes.
Pricing has held in the tonier areas, such as Redhawk, but it is definitely starting to shift, and I think when it does go (such as when the banks really starting pushing REO inventory to clear the books), you will see pricing in the $100 to $120sf range.
There have been some fairly significant price drops here in Fallbrook, and in areas once thought immune.
November 7, 2007 at 1:50 PM in reply to: Paranoids: Any ABC’s fearful of chinese bashing in the future? #96845Participantbsrsharma: Screw emigrating! I say we invade Canada. Our military would totally kick their military’s ass and we would get free healthcare, a more stable currency and Quebec in the bargain!
They also would never see it coming. We could go in to Windsor from Detroit. That way, a bunch of irate, well armed Americans wouldn’t raise any suspicion. We could attack after a Tigers – Bluejays game and dress the Army up in Tigers fan’s gear.
Who’s with me?
November 7, 2007 at 1:50 PM in reply to: Paranoids: Any ABC’s fearful of chinese bashing in the future? #96910Participantbsrsharma: Screw emigrating! I say we invade Canada. Our military would totally kick their military’s ass and we would get free healthcare, a more stable currency and Quebec in the bargain!
They also would never see it coming. We could go in to Windsor from Detroit. That way, a bunch of irate, well armed Americans wouldn’t raise any suspicion. We could attack after a Tigers – Bluejays game and dress the Army up in Tigers fan’s gear.
Who’s with me?
November 7, 2007 at 1:50 PM in reply to: Paranoids: Any ABC’s fearful of chinese bashing in the future? #96917Participantbsrsharma: Screw emigrating! I say we invade Canada. Our military would totally kick their military’s ass and we would get free healthcare, a more stable currency and Quebec in the bargain!
They also would never see it coming. We could go in to Windsor from Detroit. That way, a bunch of irate, well armed Americans wouldn’t raise any suspicion. We could attack after a Tigers – Bluejays game and dress the Army up in Tigers fan’s gear.
Who’s with me?
November 7, 2007 at 1:50 PM in reply to: Paranoids: Any ABC’s fearful of chinese bashing in the future? #96924Participantbsrsharma: Screw emigrating! I say we invade Canada. Our military would totally kick their military’s ass and we would get free healthcare, a more stable currency and Quebec in the bargain!
They also would never see it coming. We could go in to Windsor from Detroit. That way, a bunch of irate, well armed Americans wouldn’t raise any suspicion. We could attack after a Tigers – Bluejays game and dress the Army up in Tigers fan’s gear.
Who’s with me?
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