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Cow_tipping
ParticipantI like boring straighforward boxes. They need to be easy to build (OK fine its cheaper that’s why) and they should be easy to maintain, cheap to heat and cool and right for the way I live my life. I have plenty of excitement in my life to expect it from my house. I expect my house to shelter me, not entertain me.
Anyway, I think I’ll make like a bandit when these stucco boxes are repoed by the million … just patience.
I like Brick just fine, but rock, stone or whatever crap is just a place for cobwebs and dirt to collect. Simple with good and inexpensive materials. Vinyl is fine, but dont gimme the cheapass sheite, good 6 inch beaded lap vinyl, shingles are fine, gimme good shingles not shitty paper thin.
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Cow_tipping.ParticipantYes, developments starting now tend to be priced with an eye to the future whihc is lower potentially, with a cost basing in the present. Older developments were also priced with an eye to the future which was 10% up YOY, and cost basing for then, which was much much higher than now.
Builders are in survival mode, they’d do whatever they can to keep their doors open. Building is their only skill.
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Cow_tipping.April 18, 2007 at 11:51 AM in reply to: Strawberry Picker Buys $720,000 House on $15,000/yr Income #50492ParticipantIn case of a bailout, The very very very FB’s start to get bailed and the very very FB’s get mad and dum their houses, and then the very FB’s and then the FB’s and by then … everyone is under water, even those that bought in 1985 with a 6% fixed and 20% down.
Can someone say … “Tulip bulb”
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Cow_tipping.ParticipantOooooo … me me me … (making a hand raising and jumping up and down motion)
I have a deal for you, do I have a deal for you …
I have this house I bought in 4-Clos… I mean S ranch.
Its a beautiful shiny never lived in 1800+ sqft with all granite and travertine everywhere. Its on the market much below appraisal of 1.8 million. 1.6 million OBO, and buy that house or Take over payments and I’ll buy your car for cash … yea … Cool.
Sarcasm. Just one more of the many services I offer.Sorry man, I hate cars and this is why, I buy 20 year old motorcycles and put them on the road after maintaining them and they have been good to me. My 10 year old Truck had the freaking tail pipe fall off monday.
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Cow_tipping.ParticipantThe whole political stance is to give the impression that they are doing something for their voters while helping their contributors and friends.
By the time 09 comes about, it will be futile to do anything because the dumping of houses will at that time be a flood. People know they can rent the same damn thing they dumped. Ultimately there will come a time when people let their house go and move into the one next door as a rental cos that one went through foreclosure and came back on the market at 1/4th their payment. They may dump theirs. rent the next one, and buy theirs back for less.
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Cow_tipping.ParticipantOoooooo sign me up, not only do I get your overpriced and crashing and soon to be worthless Piece of Crap, I also get your post reset toxic loan … both … cant beat that.
Where do I sign …
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Cow_tipping.ParticipantSubmitted by speaker on April 16, 2007 – 12:55pm.
has bitter renter come to replace white trash in the lexicon? …
Nope … Fu&*ed borrower is the new white trash.
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Cow_tipping.ParticipantIts costing the auction house money, and they in many cases charge that back to the seller whether it sells or not. Now the idea is that it covers their expenses, and not much else. The sale and that commission is what their profits are. The auction houses can be putting in all the effort free for Idiots who wont listen to common sense … “you cant sell a 5 dollar bill, for 10 dollars no matter how shiny it is”
So the sellers will have to get real or aution houses will stop taking their houses on, or charge more fees.
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Cow_tipping.ParticipantLast year 6 figures … yup … even That larchmont house in sac (6500 larchmont ave, north highlands) sold for 330K in march, agreed it sold to Casey Serin but … some realtor made out like a bandit … I’d start by talking about last month or month before instead of 2006 or 2005.
And we are going from bad to worse.
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Cow_tipping.ParticipantIts a scam, soon they realise the people who turn up are serious if the price gets real, and they start lowering it pronto … till they all end up chasing the falling knife … Much like Casey Serin’s 330K larchmont house was not short sold at 225K because the bank must have 240K and 3 months later the bank is trying to squeeze 199K … should’ve taken the 225 … yea happens at auctions.
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Cow_tipping.ParticipantYes, its all mathematically related.
Local trends affect it and I’d say serve to change the multiplier if you can think of it in those terms.
Say 10 years ago, a particular La Jolla house was X 3 a particular El cajon house.
2 years ago, it would ahve still been 3X, unless the higher $$ had more liars loans seekers, then it becomes 4 or 5 X.
Now, El cajon has more offices and highways comming in. It could now make up extra ground and be 1/3 the LJ house again. Then more liars loans are sold to El cajon. It can gain more on LJ. Then the market collapses with liar loans that reset leading the way. That means LJ gets hit first. Cos it had Liars loans come in first. At some point LJ is less than 3 X. Soon EC gets liars loans trouble. It crashes to the 1/3rd LJ price.
The probem in most of this is … at any given instant someone can say, see I told ya, the nicer areas aren’t getting hit … wait for it to fully unravel, then again, we are always in the middle of somehting ravelling or un ravelling.
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Cow_tipping.ParticipantOK People aren’t paying the money given to them as mortgages. They are definetly not going to pay something given to them as charity.
The whole problem is this, They expect to see 10% appreciation year over year. They expect to catch up by 08 or 09, after all their realtor told them that, as did the seller and the mortgage broker and the 10 idiots on the street and the 1000 idiots on TV. If they know for certain they are even 1% under, and they aren’t going to get back on the skyward ramp real soon, its going to be a reason to dump the house back to the bank and run.
In any case, banks can use some sorta external agency or get the feds to lighten up the regulations to let them sit on the dumped property for longer.
I still think they’ll lose their ass … for example, casey serin’s larchmont house, had a buyer offer 225 ~3 months ago, the bank refused saying they wanted minimum 240. They took it back and few months later its on the market for 199K. If the bank had the funds come from an external unit (feds or what ever) and they can hold it till market value comes back, maybe they can … maybe, but will it ever come back to 330 when new houses are ~300 for similar size ???
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Cow_tipping.ParticipantNo … not everyone lies about their income, and not everyone is a chronic speeder (OK atleast not at this point in my life) and atleast not quite in a car (motorcycle … sometimes).
Speeding is likely to be far more dnagerous though, but usually people speed when traffic is light and they tend to have the good safety distances I think (OK that’s when I speed). That clown is a POS who ruined it for everyone (Him and a 1000 others starting with Charlatan Cheats).
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Cow_tipping.ParticipantBailout, would these be the same people who last month said that there is no housing bubble … so why dont we suggest that they use their house to bail themselves out … yea …
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