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blackbox
ParticipantLooks like the 6 percent Commission will soon be a distant memory……
Amazing it lasted this long with skyrocketing home prices.
Not a bad gig. Agents had a 100 percent raise in 3 to 4 years.
Hey, hey now. I asked for a non-fat mocha latte with chocolate sprinkles. “Geez, an Ex hotshot real estate agent turn barrista”I need a cafe with at least an ex real estate appraisal dude employed as a barrista. At least those guys know/knew how to follow instructions without question, no matter how unrealistic the request was/is….
ParticipantYep, poor defenseless nurses who just wanted to get into the game! These people (victims) helped keep the bubble going because of their greed, envy, and stupidity. You had no business buying multiple homes, and if you did, in fact, have a business buying bunches of homes during the greatest real estate market bubble in recent history, well….
That’s why most businesses fail; they are a huge risk. Of course, this was like buying a donut shop in a mini-mall that already had 2 donut shops opened and operating. You idiots!Participantwow, maybe he should replace the carpet, and open up the drapes!
ParticipantHey we’re at 2003 pricing, headed to 2002!
Didn’t this guy get the memo?Participantoops
ParticipantHow about this:
High prices…………Bad
Low Prices………….GoodIf you can actually afford the mortgage long term…..buy
If you can only get into your new home with a suicide Option ARM …… Don’t buyOh, and under no circumstances do you buy right after the mother of all housing bubbles. Wait 2 to 5 years after prices peaked in 2005. From the peak prices, shave off an average of 30 to 40% for homes. Shave off 40 to 60% off condos.
Conversion condos… don’t touch with a ten foot pole for the next 10 years, and when you do, wear rubber gloves!ParticipantLogic did’nt stop home prices on the way up, and it sure as hell not going to help you on the way down.
ParticipantIn other news, “Real Estate Investment Clubs” all over the United States are turning themselves, seemingly overnight, into “Class Action Litigation Clubs”. Their old slogan used to be:
“We’re geniuses, we’re brilliant, and gosh darn it, people envy us”.Any suggestions what the new slogan should be?
ParticipantIn other news, “Real Estate Investment Clubs” all over the United States are turning themselves, seemingly overnight, into “Class Action Litigation Clubs”. Their old slogan used to be:
“We’re geniuses, we’re brilliant, and gosh darn it, people envy us”.Any suggestions what the new slogan should be?
ParticipantHey, I heard from a real reliable source that Orange County is definitely running out of land, and they may have just cornered the oxygen market! The local homeowners in a huge reversal of opinion now want Former El Toro Airbase to turn itself into an International Airport! OOPS! Ofcourse residents are suing local officials, airport protest leaders, farm owners, Irvine development corp, Lennar etc……. Because clearly, the implications of hundreds more homes built at the base were never, ever explained in the airport protest rally flyer. Who knew that the OC would run out of $212K a year earners so fast!
ParticipantSorry for the spelling and grammer mistakes. I was working the phone when I was typing. I know, I know, but at least I turned the radio down in my car while I typed. Haha
ParticipantLet’s see if I can tackle this one.
Buyer buys home he can’t afford with a suicide option arm loan. He crossing he fingers that the house appreciates enough so he can sell or refi into a fixed loan. Prices don’t go up enough to cover the 6% sales comm, and since the buyer does not want to lose ANY money, he holds on to it. More and more unoccupied properties go on the market. Prices start going down slowly. The monster can no longer be fed with GFs. False bottom under peak pricing. Prices head back to 2001~2002 where average income buyers can actually afford the home with a fixed 10 to 20% down.
It’s amazing how emotions can be included for reasons that home prices go up, but logic, charts, and math equations are the only factors that can be used to determine how low home prices can be taken down. There was a huge overshoot on the way up, and there will be a huge undershoot on the way down. Wait for the clearance special soon. Don’t forget to bring the “Take an EXTRA 10% off” coupon that comes with your morning newspaper a couple of years from now.January 11, 2007 at 10:43 AM in reply to: Pardee Homes Drops Mello Roos in new development in Moorpark (Ventura) #43230ParticipantWow, you guys took a $200,000 haircut! Not $150K. Geez, add that with the scarlet letter of being a mello roos property, which will add $100K on the lowball offer, and you have lost $300K on your home overnight. I suppose you want home developers to continue funding your extremely bad decison to buy at the peak of the mother of all housing bubbles! In two years, your property will have a 50% haircut, and you’ll be a renter again, with a little less money, and a screwed up credit record. Just because you did not want to miss the train. It was a great time to buy….for the developer, the salespersons, the loan officers, and the constuction dudes. Too bad you didn’t stop and think ” Gee, how can people on an average income afford today’s prices. Maybe I should look at historical income/home prices ratios to determine if a home is overpriced.” You probably thought building land was running out, and that the Oxnard area is very, very special. Well, OOPS. Hey someone bought Yahoo at $120, $100, $90, $80………… So welcome to the real world again…. Homeowners. Pull up a chair, grab a beer, and our complementary popcorn. We’ll give you a big hug right after we give you a slap behind the head. YOU BONEHEADS!
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