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an
ParticipantBase on the data Yahoo shows, today’s volume is about 5 billion shares. That’s well above the daily volume of 2-3 billions shares over the last 3 months and above daily volume of about 4 billions shares during this decline. It also looks like a double bottom for me with strong volume on the rebound, the next several days should be interesting.
ParticipantAdmission is free. You don’t need to bring any cash unless you’re planning to buy.
ParticipantAdmission is free. You don’t need to bring any cash unless you’re planning to buy.
ParticipantI was amazed at how many people showed up. They had 2 rooms set up in the beginning but had 4 more behind it ready just in case more people showed up. They end up using the whole thing. If I have to guess, there must have been around 1000-2000 people there. By the kind of conversation around me, it seems like a lot of people are quite unprepared and probably just showed up to watch.
ParticipantI was amazed at how many people showed up. They had 2 rooms set up in the beginning but had 4 more behind it ready just in case more people showed up. They end up using the whole thing. If I have to guess, there must have been around 1000-2000 people there. By the kind of conversation around me, it seems like a lot of people are quite unprepared and probably just showed up to watch.
ParticipantIt would definitely be interesting to see what the winning bids are now. We’ll find out soon enough. Another new batch of lower comps I hope.
ParticipantIt would definitely be interesting to see what the winning bids are now. We’ll find out soon enough. Another new batch of lower comps I hope.
ParticipantWould be interesting to see the result of this auction vs the last one. Especially with the new lending standards and the shift in psychology. I noticed that some properties were also auctioned @ the last event. I guess it didn’t get sold. One in particular that I remember is 7315 ROCK CANYON DRIVE , SAN DIEGO , California, 92126. The last starting bid was around 350-375k if I remember correctly. It’s now starting @ 279k. Probably it’s a shift in lenders’ sentiment?
ParticipantWould be interesting to see the result of this auction vs the last one. Especially with the new lending standards and the shift in psychology. I noticed that some properties were also auctioned @ the last event. I guess it didn’t get sold. One in particular that I remember is 7315 ROCK CANYON DRIVE , SAN DIEGO , California, 92126. The last starting bid was around 350-375k if I remember correctly. It’s now starting @ 279k. Probably it’s a shift in lenders’ sentiment?
ParticipantThat sounds awfully like they’re heading to the lend standard of yesteryear. I know many who wouldn’t have qualified the last couple years if this standard was in place. I wonder what they’ll do when their loan resets and they’ll have to deal w/ this new standard too.
ParticipantThat sounds awfully like they’re heading to the lend standard of yesteryear. I know many who wouldn’t have qualified the last couple years if this standard was in place. I wonder what they’ll do when their loan resets and they’ll have to deal w/ this new standard too.
ParticipantJust because the CAUSE is different now compare to the 90s doesn’t mean that the decline won’t happen. It already happens in some area. The cause today is not job lost but tightening of credit and proliferation of exotic loans. We haven’t seen loose lending like this since the great depression. Also, we never enter a declining RE market with an all time low interest rate. Examples are right there in your face if you just look. In 2005, a 1500 sq-ft condo/townhouse in Carmel Valley was going for $650k. Today, the exact same model just got listed as bank owned for $536k. How’s that for 20% drop over 2 years? A 2100 sq-ft house in MM in 2005 w/ canyon view were going for mid $700k. Today, many are listing in the mid $600k with no taker. How’s that for 15% drop over 2 years? I can go on. Some drop faster/harder than other but no area is immune unless it didn’t experience crazy appreciation over the last 7 years.
ParticipantJust because the CAUSE is different now compare to the 90s doesn’t mean that the decline won’t happen. It already happens in some area. The cause today is not job lost but tightening of credit and proliferation of exotic loans. We haven’t seen loose lending like this since the great depression. Also, we never enter a declining RE market with an all time low interest rate. Examples are right there in your face if you just look. In 2005, a 1500 sq-ft condo/townhouse in Carmel Valley was going for $650k. Today, the exact same model just got listed as bank owned for $536k. How’s that for 20% drop over 2 years? A 2100 sq-ft house in MM in 2005 w/ canyon view were going for mid $700k. Today, many are listing in the mid $600k with no taker. How’s that for 15% drop over 2 years? I can go on. Some drop faster/harder than other but no area is immune unless it didn’t experience crazy appreciation over the last 7 years.
ParticipantI completely agree with blue_sky. I did the same thing when I rented in an apartment. I negotiated and always got it down much lower than the original amount. Usually, they wanted, $100 raise, I told them I was a good tenant, always pay on time, and no complains. I walk out w/ a $20-25 raise in rent instead. Everything is negotiable, remember that.
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