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October 12, 2007 at 4:07 PM in reply to: Will honest people start doing dirty/crooked things to bail out of their houses #88569
no_such_reality
ParticipantIn everyone’s opinion, what sort of criteria and terms would make a “perfect” loan?
Perfect for who?
The borrower?
The bank?
The investor to whom the bank sells the loan?
The mortgage agent on commission that makes the deal?
The RE Agent that brokered the home sale?
The appraiser that provides the number the bank yeas or nays?
The future neighbors of the person to whom the bank is thinking of loaning the money?
ParticipantIn everyone’s opinion, what sort of criteria and terms would make a “perfect” loan?
Perfect for who?
The borrower?
The bank?
The investor to whom the bank sells the loan?
The mortgage agent on commission that makes the deal?
The RE Agent that brokered the home sale?
The appraiser that provides the number the bank yeas or nays?
The future neighbors of the person to whom the bank is thinking of loaning the money?
Participantgenerally good macroeconomic analysis.
There is no macroeconomic analysis. There is a little blurping about subprime and MBSes but that is even less astute than you’ll find explained on the blogs.
Notice how the people quoted have impressive titles, but no listed affliations? the only one I see is Hamid Varzi ith IHT. They’re quoting an opinion piece. An opinion piece written by a banker in Tehran, Iran. http://www.iht.com/articles/2007/08/17/opinion/edvarzi.php
ParticipantI mean they have to attract a portion of the well to do somehow.
Do they? Didn’t Jerry, Jimmy and Robert do well collecting their tithes from little old ladies social security checks?
Maybe we should cruise over the mega church over in Saddleback and ‘experience’ the opiate they’re pushing. I think they take credit cards for donations.
ParticipantYes, excellent article.
Pabulum. “Copyright © 2007 Philadelphia Church of God, All Rights Reserved.”
http://en.wikipedia.org/wiki/Philadelphia_Church_of_God
http://en.wikipedia.org/wiki/Gerald_FlurryOctober 2, 2007 at 11:09 AM in reply to: Are you prepared to be ruled by a homeowners association? #86723ParticipantKaycee, watch the books carefully. I’d guess you’re going to have one ugly special assessment in the future.
ParticipantThey’ll sit. Unless forced to sell by a move, divorce, job loss or something else, long term holders will sit.
They will sit and fume about ‘people thinking they should give it away’ until the market capitulates to bottom, which is goving to take a couple more years. We’ve seen the first two in SD, sales volume slowed and prices flat-lined but median kept climbing. Now the next two or three years of actual contraction are upon the market.
October 1, 2007 at 11:36 AM in reply to: Give me La Jolla’s ultimate rock-bottom price/sq ft – and when #86579ParticipantArgh, my bad, I meant Miramar, not CV.
October 1, 2007 at 11:01 AM in reply to: Give me La Jolla’s ultimate rock-bottom price/sq ft – and when #86574ParticipantNo prob, they’re probably closer to CV than the beach.
Speaking of La Jolla, when I looked at redfin, are there an aweful lot of homes for sale in La Jolla? Prime area, if not prime stuff, west of Prospect.
October 1, 2007 at 7:42 AM in reply to: Give me La Jolla’s ultimate rock-bottom price/sq ft – and when #86537ParticipantAlso SFR 1 is on MT Soledad and SFR 2 and 3 are Ridgegate which is that development that sits at the 5/52 intersection.
Ok, the slums of La Jolla then.
ParticipantSure, all those middlemen share some blame, but the big bucks and blame rests firmly with the buyers. They could always have rented if shelter were the only issue. Even the dumb ones were speculating, and they knew it, and now they want to shine the spotlight somewhere else.
I second that. Even the much heralded strawberry picker in the Bay Area isn’t innocent. They all were depending on a refi in the future to keep it affordable.
That said, there will be a few that were genuinely lied to about what they were getting, but it is pittance of people compared to the masses that willingly gambled on the great bubble.
ParticipantIt’s a buyer’s market and you don’t need that BS.
Frankly, take your time, find a better place for the same or less.
September 30, 2007 at 4:59 PM in reply to: Give me La Jolla’s ultimate rock-bottom price/sq ft – and when #86470Participant2500 sq/ft home in La Jolla for $875,000 in 2010???? I’ll be kicking and scratching to be the first in line for that home.
Probably because you’ll be a two years too late.
Here’s a 2400 sf SFR at $410/sf. it’s been the market for 149 days. At a mere $995K. La Jolla SFR #1 Hmm, at 149 days, I wonder if they’re getting flexible. It only has 15% to go to $350/sf.
Here’s another active listing at 408/sf at 2900sf. It only needs a 10% drop. Oh, and look, it’s already on the market for 59 days…
Here’s another nice looking place. It’s already below $400/sf but it’s a bit bigger at 3300 sf. Although, at 103 days on the market, I wonder if an ARM reset earlier this year from that March 2005 purchase is hurting. la jolla SFR #3
Personally, I prefer #3. Anybody know if a NOD has been served?
Participant“Oh, that’s a shame, I was thinking of offering but I’m not getting into a bidding war. If they fall through, give me a call, I’ll come check it out again.”
Then leave.
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