[LA_Renter]

Comrades….Comrades….What’s the big fuss??

[LA_Renter]

Comrades….Comrades….What’s the big fuss??

[LA_Renter]

Comrades….Comrades….What’s the big fuss??

[LA_Renter]

Comrades….Comrades….What’s the big fuss??

[LA_Renter]

Comrades….Comrades….What’s the big fuss??

[LA_Renter]

Here is an excellent post from Mr Mortgage about the Jumbo-Prime Universe

“Jumbo-Prime Under Attack by the Raters – Big Banks Beware
Posted on August 28th, 2008 in Uncategorized

More news for you on the Jumbo-Prime and Alt-A front. The recent flurry of action by the raters is almost too much to keep up with. In the past month, all three primary ratings agencies have torn apart the Jumbo Prime and Alt-A RMBS market. Now Moody’s is going one step further by stepping up scrutiny, which means more downgrades shortly, on ALL Jumbo Prime deals from 2006-2007.”

http://mrmortgage.ml-implode.com/2008/08/28/jumbo-prime-under-attack-by-the-raters-big-banks-beware/

Also, I posted about this on the Pain in La Jolla thread from Manhattan Beach Confidential, it is a recent Karate chop sale in exclusive Manhattan Beach

http://mbcon.blogspot.com/2008/08/homers-shocking-fall.html

Home
“decent-sized 3br/3ba, 2300 sq. ft. home with substantial ocean views. Contemporary, clean, and nice, nestled in a very quiet part of the South End…”

List Price $2.3 M

Sold $1.7 M

Last sale 2002 $1.37 M

Keep in mind the increase in the median price in MB (nominal) was 161% from 2000-2008, and beach-adjacent properties usually outperform the median.

This was not a tear down and according to the comments the seller was a successful RE Investor (commercial) and moved into a $6 M home (point being this was an educated seller). So this is what it looks like when sellers in the high end markets don’t cancel the listing and make the sale at what the market will bear. This one got people’s attention around here. The data is suggesting with each passing day that the high end is cracking.

[LA_Renter]

Here is an excellent post from Mr Mortgage about the Jumbo-Prime Universe

“Jumbo-Prime Under Attack by the Raters – Big Banks Beware
Posted on August 28th, 2008 in Uncategorized

More news for you on the Jumbo-Prime and Alt-A front. The recent flurry of action by the raters is almost too much to keep up with. In the past month, all three primary ratings agencies have torn apart the Jumbo Prime and Alt-A RMBS market. Now Moody’s is going one step further by stepping up scrutiny, which means more downgrades shortly, on ALL Jumbo Prime deals from 2006-2007.”

http://mrmortgage.ml-implode.com/2008/08/28/jumbo-prime-under-attack-by-the-raters-big-banks-beware/

Also, I posted about this on the Pain in La Jolla thread from Manhattan Beach Confidential, it is a recent Karate chop sale in exclusive Manhattan Beach

http://mbcon.blogspot.com/2008/08/homers-shocking-fall.html

Home
“decent-sized 3br/3ba, 2300 sq. ft. home with substantial ocean views. Contemporary, clean, and nice, nestled in a very quiet part of the South End…”

List Price $2.3 M

Sold $1.7 M

Last sale 2002 $1.37 M

Keep in mind the increase in the median price in MB (nominal) was 161% from 2000-2008, and beach-adjacent properties usually outperform the median.

This was not a tear down and according to the comments the seller was a successful RE Investor (commercial) and moved into a $6 M home (point being this was an educated seller). So this is what it looks like when sellers in the high end markets don’t cancel the listing and make the sale at what the market will bear. This one got people’s attention around here. The data is suggesting with each passing day that the high end is cracking.

[LA_Renter]

Here is an excellent post from Mr Mortgage about the Jumbo-Prime Universe

“Jumbo-Prime Under Attack by the Raters – Big Banks Beware
Posted on August 28th, 2008 in Uncategorized

More news for you on the Jumbo-Prime and Alt-A front. The recent flurry of action by the raters is almost too much to keep up with. In the past month, all three primary ratings agencies have torn apart the Jumbo Prime and Alt-A RMBS market. Now Moody’s is going one step further by stepping up scrutiny, which means more downgrades shortly, on ALL Jumbo Prime deals from 2006-2007.”

http://mrmortgage.ml-implode.com/2008/08/28/jumbo-prime-under-attack-by-the-raters-big-banks-beware/

Also, I posted about this on the Pain in La Jolla thread from Manhattan Beach Confidential, it is a recent Karate chop sale in exclusive Manhattan Beach

http://mbcon.blogspot.com/2008/08/homers-shocking-fall.html

Home
“decent-sized 3br/3ba, 2300 sq. ft. home with substantial ocean views. Contemporary, clean, and nice, nestled in a very quiet part of the South End…”

List Price $2.3 M

Sold $1.7 M

Last sale 2002 $1.37 M

Keep in mind the increase in the median price in MB (nominal) was 161% from 2000-2008, and beach-adjacent properties usually outperform the median.

This was not a tear down and according to the comments the seller was a successful RE Investor (commercial) and moved into a $6 M home (point being this was an educated seller). So this is what it looks like when sellers in the high end markets don’t cancel the listing and make the sale at what the market will bear. This one got people’s attention around here. The data is suggesting with each passing day that the high end is cracking.

[LA_Renter]

Here is an excellent post from Mr Mortgage about the Jumbo-Prime Universe

“Jumbo-Prime Under Attack by the Raters – Big Banks Beware
Posted on August 28th, 2008 in Uncategorized

More news for you on the Jumbo-Prime and Alt-A front. The recent flurry of action by the raters is almost too much to keep up with. In the past month, all three primary ratings agencies have torn apart the Jumbo Prime and Alt-A RMBS market. Now Moody’s is going one step further by stepping up scrutiny, which means more downgrades shortly, on ALL Jumbo Prime deals from 2006-2007.”

http://mrmortgage.ml-implode.com/2008/08/28/jumbo-prime-under-attack-by-the-raters-big-banks-beware/

Also, I posted about this on the Pain in La Jolla thread from Manhattan Beach Confidential, it is a recent Karate chop sale in exclusive Manhattan Beach

http://mbcon.blogspot.com/2008/08/homers-shocking-fall.html

Home
“decent-sized 3br/3ba, 2300 sq. ft. home with substantial ocean views. Contemporary, clean, and nice, nestled in a very quiet part of the South End…”

List Price $2.3 M

Sold $1.7 M

Last sale 2002 $1.37 M

Keep in mind the increase in the median price in MB (nominal) was 161% from 2000-2008, and beach-adjacent properties usually outperform the median.

This was not a tear down and according to the comments the seller was a successful RE Investor (commercial) and moved into a $6 M home (point being this was an educated seller). So this is what it looks like when sellers in the high end markets don’t cancel the listing and make the sale at what the market will bear. This one got people’s attention around here. The data is suggesting with each passing day that the high end is cracking.

[LA_Renter]

Here is an excellent post from Mr Mortgage about the Jumbo-Prime Universe

“Jumbo-Prime Under Attack by the Raters – Big Banks Beware
Posted on August 28th, 2008 in Uncategorized

More news for you on the Jumbo-Prime and Alt-A front. The recent flurry of action by the raters is almost too much to keep up with. In the past month, all three primary ratings agencies have torn apart the Jumbo Prime and Alt-A RMBS market. Now Moody’s is going one step further by stepping up scrutiny, which means more downgrades shortly, on ALL Jumbo Prime deals from 2006-2007.”

http://mrmortgage.ml-implode.com/2008/08/28/jumbo-prime-under-attack-by-the-raters-big-banks-beware/

Also, I posted about this on the Pain in La Jolla thread from Manhattan Beach Confidential, it is a recent Karate chop sale in exclusive Manhattan Beach

http://mbcon.blogspot.com/2008/08/homers-shocking-fall.html

Home
“decent-sized 3br/3ba, 2300 sq. ft. home with substantial ocean views. Contemporary, clean, and nice, nestled in a very quiet part of the South End…”

List Price $2.3 M

Sold $1.7 M

Last sale 2002 $1.37 M

Keep in mind the increase in the median price in MB (nominal) was 161% from 2000-2008, and beach-adjacent properties usually outperform the median.

This was not a tear down and according to the comments the seller was a successful RE Investor (commercial) and moved into a $6 M home (point being this was an educated seller). So this is what it looks like when sellers in the high end markets don’t cancel the listing and make the sale at what the market will bear. This one got people’s attention around here. The data is suggesting with each passing day that the high end is cracking.

[LA_Renter]

From what I am reading across the blogs, there is increased investor activity in certain segments of the market which is showing up as increased purchases in the data, albeit from volumes we have literally not seen since the 1970’s. I have no reason to doubt that, but it does make you think exactly how many all cash buyers are out there? It sounds to me that for people that really know what they are doing, there are profits to be had right now. I imagine at this stage of the correction much of this was to be anticipated. I don’t think that there has ever been this steep of a price decline in such a short period especially in the lower to mid tiered markets. I agree with Bugs when he pointed out that there were at least three mini rallies during the last downturn only to fizzle out. I guess you can call these bear market rallies. These rallies can be persuasive, not to compare the stock market to RE but Wall Street rallied to 13,000 off of the Jan lows, even I started to consider maybe the worst really is behind us. I am glad I didn’t put any money on that bet. I am on the sidelines because I think the credit crisis is going to be deeper and take longer to correct than what is being bandied about by the MSM and many pollyanna economists. Ground zero of that distress is Cal RE. I usually go with my gut on these things and my gut tells me this thing is far from over.

[LA_Renter]

From what I am reading across the blogs, there is increased investor activity in certain segments of the market which is showing up as increased purchases in the data, albeit from volumes we have literally not seen since the 1970’s. I have no reason to doubt that, but it does make you think exactly how many all cash buyers are out there? It sounds to me that for people that really know what they are doing, there are profits to be had right now. I imagine at this stage of the correction much of this was to be anticipated. I don’t think that there has ever been this steep of a price decline in such a short period especially in the lower to mid tiered markets. I agree with Bugs when he pointed out that there were at least three mini rallies during the last downturn only to fizzle out. I guess you can call these bear market rallies. These rallies can be persuasive, not to compare the stock market to RE but Wall Street rallied to 13,000 off of the Jan lows, even I started to consider maybe the worst really is behind us. I am glad I didn’t put any money on that bet. I am on the sidelines because I think the credit crisis is going to be deeper and take longer to correct than what is being bandied about by the MSM and many pollyanna economists. Ground zero of that distress is Cal RE. I usually go with my gut on these things and my gut tells me this thing is far from over.

[LA_Renter]

From what I am reading across the blogs, there is increased investor activity in certain segments of the market which is showing up as increased purchases in the data, albeit from volumes we have literally not seen since the 1970’s. I have no reason to doubt that, but it does make you think exactly how many all cash buyers are out there? It sounds to me that for people that really know what they are doing, there are profits to be had right now. I imagine at this stage of the correction much of this was to be anticipated. I don’t think that there has ever been this steep of a price decline in such a short period especially in the lower to mid tiered markets. I agree with Bugs when he pointed out that there were at least three mini rallies during the last downturn only to fizzle out. I guess you can call these bear market rallies. These rallies can be persuasive, not to compare the stock market to RE but Wall Street rallied to 13,000 off of the Jan lows, even I started to consider maybe the worst really is behind us. I am glad I didn’t put any money on that bet. I am on the sidelines because I think the credit crisis is going to be deeper and take longer to correct than what is being bandied about by the MSM and many pollyanna economists. Ground zero of that distress is Cal RE. I usually go with my gut on these things and my gut tells me this thing is far from over.

[LA_Renter]

From what I am reading across the blogs, there is increased investor activity in certain segments of the market which is showing up as increased purchases in the data, albeit from volumes we have literally not seen since the 1970’s. I have no reason to doubt that, but it does make you think exactly how many all cash buyers are out there? It sounds to me that for people that really know what they are doing, there are profits to be had right now. I imagine at this stage of the correction much of this was to be anticipated. I don’t think that there has ever been this steep of a price decline in such a short period especially in the lower to mid tiered markets. I agree with Bugs when he pointed out that there were at least three mini rallies during the last downturn only to fizzle out. I guess you can call these bear market rallies. These rallies can be persuasive, not to compare the stock market to RE but Wall Street rallied to 13,000 off of the Jan lows, even I started to consider maybe the worst really is behind us. I am glad I didn’t put any money on that bet. I am on the sidelines because I think the credit crisis is going to be deeper and take longer to correct than what is being bandied about by the MSM and many pollyanna economists. Ground zero of that distress is Cal RE. I usually go with my gut on these things and my gut tells me this thing is far from over.

[LA_Renter]

From what I am reading across the blogs, there is increased investor activity in certain segments of the market which is showing up as increased purchases in the data, albeit from volumes we have literally not seen since the 1970’s. I have no reason to doubt that, but it does make you think exactly how many all cash buyers are out there? It sounds to me that for people that really know what they are doing, there are profits to be had right now. I imagine at this stage of the correction much of this was to be anticipated. I don’t think that there has ever been this steep of a price decline in such a short period especially in the lower to mid tiered markets. I agree with Bugs when he pointed out that there were at least three mini rallies during the last downturn only to fizzle out. I guess you can call these bear market rallies. These rallies can be persuasive, not to compare the stock market to RE but Wall Street rallied to 13,000 off of the Jan lows, even I started to consider maybe the worst really is behind us. I am glad I didn’t put any money on that bet. I am on the sidelines because I think the credit crisis is going to be deeper and take longer to correct than what is being bandied about by the MSM and many pollyanna economists. Ground zero of that distress is Cal RE. I usually go with my gut on these things and my gut tells me this thing is far from over.

[Author]

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