[jpinpb]

My favorite was this: “Total delinquencies as a percentage of the number of loans was 6.96 percent, up from 5.02 percent at the end of the prior year. Some 1.04 percent of loans were facing foreclosure, up from 0.65 percent a year earlier.”

KIM this is only Countrywide here. What about others, New Century, etc. Countrywide was not the only one doing these subprime loans. Pretty amazing, scary and funny when you look at the forest and not the trees.

[jpinpb]

I agree w/SDR that some sellers and even banks are stubborn and resistant and very strongly in denial digging their heels in. Two different set of sellers: Those in the hole w/no options but to walk, or soon to walk. Those who are holding on refusing to accept the inevitable, ever positive that the market is going to correct soon.

I think that mentality has the opposite effect.

Does this mean it will take longer for the market to adjust? I heard on KPBS that all the talk of banks working w/subprime borrowers is not really coming through as expected. Didn’t surprise me that they’re not working w/people. People who so easily jumped on the subprime train now have no qualms about walking.

Many of us on this board can afford to wait to buy. Many can’t afford to wait to sell. Some losing equity daily and throwing more money monthly that won’t be gained anytime soon. It will eventually sink in.

I think it will be just a long, drawn out process. Are more loans still due to be re-setting in June? The Feds lowered rates, but banks didn’t really.

Do you think the bailouts proposed thus far have come to fruition or made any difference? How long before some actually take effect and help the market recover? Will too much damage be done already and difficult to undo? Meaning longer recovery?

The spike in prices on charts was so steep and certainly relative to incomes, unsustainable. Interest rates would have to go down to teaser rate levels to make the houses affordable, IMO. Crazy talk. What do I know. Trying to understand and figure it out. More questions than answers.

[jpinpb]

I agree w/SDR that some sellers and even banks are stubborn and resistant and very strongly in denial digging their heels in. Two different set of sellers: Those in the hole w/no options but to walk, or soon to walk. Those who are holding on refusing to accept the inevitable, ever positive that the market is going to correct soon.

I think that mentality has the opposite effect.

Does this mean it will take longer for the market to adjust? I heard on KPBS that all the talk of banks working w/subprime borrowers is not really coming through as expected. Didn’t surprise me that they’re not working w/people. People who so easily jumped on the subprime train now have no qualms about walking.

Many of us on this board can afford to wait to buy. Many can’t afford to wait to sell. Some losing equity daily and throwing more money monthly that won’t be gained anytime soon. It will eventually sink in.

I think it will be just a long, drawn out process. Are more loans still due to be re-setting in June? The Feds lowered rates, but banks didn’t really.

Do you think the bailouts proposed thus far have come to fruition or made any difference? How long before some actually take effect and help the market recover? Will too much damage be done already and difficult to undo? Meaning longer recovery?

The spike in prices on charts was so steep and certainly relative to incomes, unsustainable. Interest rates would have to go down to teaser rate levels to make the houses affordable, IMO. Crazy talk. What do I know. Trying to understand and figure it out. More questions than answers.

[jpinpb]

I agree w/SDR that some sellers and even banks are stubborn and resistant and very strongly in denial digging their heels in. Two different set of sellers: Those in the hole w/no options but to walk, or soon to walk. Those who are holding on refusing to accept the inevitable, ever positive that the market is going to correct soon.

I think that mentality has the opposite effect.

Does this mean it will take longer for the market to adjust? I heard on KPBS that all the talk of banks working w/subprime borrowers is not really coming through as expected. Didn’t surprise me that they’re not working w/people. People who so easily jumped on the subprime train now have no qualms about walking.

Many of us on this board can afford to wait to buy. Many can’t afford to wait to sell. Some losing equity daily and throwing more money monthly that won’t be gained anytime soon. It will eventually sink in.

I think it will be just a long, drawn out process. Are more loans still due to be re-setting in June? The Feds lowered rates, but banks didn’t really.

Do you think the bailouts proposed thus far have come to fruition or made any difference? How long before some actually take effect and help the market recover? Will too much damage be done already and difficult to undo? Meaning longer recovery?

The spike in prices on charts was so steep and certainly relative to incomes, unsustainable. Interest rates would have to go down to teaser rate levels to make the houses affordable, IMO. Crazy talk. What do I know. Trying to understand and figure it out. More questions than answers.

[jpinpb]

I agree w/SDR that some sellers and even banks are stubborn and resistant and very strongly in denial digging their heels in. Two different set of sellers: Those in the hole w/no options but to walk, or soon to walk. Those who are holding on refusing to accept the inevitable, ever positive that the market is going to correct soon.

I think that mentality has the opposite effect.

Does this mean it will take longer for the market to adjust? I heard on KPBS that all the talk of banks working w/subprime borrowers is not really coming through as expected. Didn’t surprise me that they’re not working w/people. People who so easily jumped on the subprime train now have no qualms about walking.

Many of us on this board can afford to wait to buy. Many can’t afford to wait to sell. Some losing equity daily and throwing more money monthly that won’t be gained anytime soon. It will eventually sink in.

I think it will be just a long, drawn out process. Are more loans still due to be re-setting in June? The Feds lowered rates, but banks didn’t really.

Do you think the bailouts proposed thus far have come to fruition or made any difference? How long before some actually take effect and help the market recover? Will too much damage be done already and difficult to undo? Meaning longer recovery?

The spike in prices on charts was so steep and certainly relative to incomes, unsustainable. Interest rates would have to go down to teaser rate levels to make the houses affordable, IMO. Crazy talk. What do I know. Trying to understand and figure it out. More questions than answers.

[jpinpb]

I agree w/SDR that some sellers and even banks are stubborn and resistant and very strongly in denial digging their heels in. Two different set of sellers: Those in the hole w/no options but to walk, or soon to walk. Those who are holding on refusing to accept the inevitable, ever positive that the market is going to correct soon.

I think that mentality has the opposite effect.

Does this mean it will take longer for the market to adjust? I heard on KPBS that all the talk of banks working w/subprime borrowers is not really coming through as expected. Didn’t surprise me that they’re not working w/people. People who so easily jumped on the subprime train now have no qualms about walking.

Many of us on this board can afford to wait to buy. Many can’t afford to wait to sell. Some losing equity daily and throwing more money monthly that won’t be gained anytime soon. It will eventually sink in.

I think it will be just a long, drawn out process. Are more loans still due to be re-setting in June? The Feds lowered rates, but banks didn’t really.

Do you think the bailouts proposed thus far have come to fruition or made any difference? How long before some actually take effect and help the market recover? Will too much damage be done already and difficult to undo? Meaning longer recovery?

The spike in prices on charts was so steep and certainly relative to incomes, unsustainable. Interest rates would have to go down to teaser rate levels to make the houses affordable, IMO. Crazy talk. What do I know. Trying to understand and figure it out. More questions than answers.

[jpinpb]

SDR – You’re the go-to guy here. This sold quick. Never seen a bank owned REO go that fast. They must have had offers in the works before it got listed in the MLS or something.
For some reason I thought REOs count as comps. It should b/c there will be many. It would set some trend. Can’t ignore the fact that the home isn’t holding value. W/banks being on the hook, seems now w/tightening of credit, full docs, down payment, they’ll want to make sure all i’s are dotted and t’s are crossed and appraised values hold up. No?
Couple more at this price, tempting that even I would consider actually buying there w/MR and HOAs and all.

[jpinpb]

SDR – You’re the go-to guy here. This sold quick. Never seen a bank owned REO go that fast. They must have had offers in the works before it got listed in the MLS or something.
For some reason I thought REOs count as comps. It should b/c there will be many. It would set some trend. Can’t ignore the fact that the home isn’t holding value. W/banks being on the hook, seems now w/tightening of credit, full docs, down payment, they’ll want to make sure all i’s are dotted and t’s are crossed and appraised values hold up. No?
Couple more at this price, tempting that even I would consider actually buying there w/MR and HOAs and all.

[jpinpb]

SDR – You’re the go-to guy here. This sold quick. Never seen a bank owned REO go that fast. They must have had offers in the works before it got listed in the MLS or something.
For some reason I thought REOs count as comps. It should b/c there will be many. It would set some trend. Can’t ignore the fact that the home isn’t holding value. W/banks being on the hook, seems now w/tightening of credit, full docs, down payment, they’ll want to make sure all i’s are dotted and t’s are crossed and appraised values hold up. No?
Couple more at this price, tempting that even I would consider actually buying there w/MR and HOAs and all.

[jpinpb]

SDR – You’re the go-to guy here. This sold quick. Never seen a bank owned REO go that fast. They must have had offers in the works before it got listed in the MLS or something.
For some reason I thought REOs count as comps. It should b/c there will be many. It would set some trend. Can’t ignore the fact that the home isn’t holding value. W/banks being on the hook, seems now w/tightening of credit, full docs, down payment, they’ll want to make sure all i’s are dotted and t’s are crossed and appraised values hold up. No?
Couple more at this price, tempting that even I would consider actually buying there w/MR and HOAs and all.

[jpinpb]

SDR – You’re the go-to guy here. This sold quick. Never seen a bank owned REO go that fast. They must have had offers in the works before it got listed in the MLS or something.
For some reason I thought REOs count as comps. It should b/c there will be many. It would set some trend. Can’t ignore the fact that the home isn’t holding value. W/banks being on the hook, seems now w/tightening of credit, full docs, down payment, they’ll want to make sure all i’s are dotted and t’s are crossed and appraised values hold up. No?
Couple more at this price, tempting that even I would consider actually buying there w/MR and HOAs and all.

[jpinpb]

Thanks patiently. I am eager and my butt is getting sore sitting on the fence. I get divided at times. Mentally I refuse to cave in to the high prices. Then I just get tired of waiting, hoping to find something doable. Must stick to plan and be patient.

[jpinpb]

Thanks patiently. I am eager and my butt is getting sore sitting on the fence. I get divided at times. Mentally I refuse to cave in to the high prices. Then I just get tired of waiting, hoping to find something doable. Must stick to plan and be patient.

[jpinpb]

Thanks patiently. I am eager and my butt is getting sore sitting on the fence. I get divided at times. Mentally I refuse to cave in to the high prices. Then I just get tired of waiting, hoping to find something doable. Must stick to plan and be patient.

[jpinpb]

Thanks patiently. I am eager and my butt is getting sore sitting on the fence. I get divided at times. Mentally I refuse to cave in to the high prices. Then I just get tired of waiting, hoping to find something doable. Must stick to plan and be patient.

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