[Ozzie]

“in ground pool”

insert Beverly Hill Billies joke here

[Ozzie]

And the Fed just released a statment saying

“keeping families in their homes is a matter of great importance to the Federal Reserve.”

this was in a story about the Fed urging lenders to rework terms for those struggling with their mortgages. The Fed has been issuing more press releases in the past 2 weeks than the prior 2 years. It would appear that they are building their case for rate cuts.

[Ozzie]

Coronado does have a lot of long time homeowners and you might do well to look for a probate sale where the heirs are lookng to cash out. There are currently 110 SFD homes for sale and in looking at the first 10 or so I saw 2 probate sales that had already been reduced. You do need to do your homework and it might help if you are handy as they are sold “as is”. Of the first 15 homes listed 10 of them were built before 1950.

[Ozzie]

There was an article earlier this week in the WSJ with comments from a British analyst who focuses on world markets. He predicted both the dot com and sub prime bubbles. He calls the Chinese market a bubble but warns that it will take many years for it to pop. Bubbles may be easy to identify, but if you short too soon you can get burned just as easily as being long and waiting for it to pop. The economy is still cooking over there and will remain strong at least through the Olympics. That is a very big deal to China. Be careful.

[Ozzie]

I will agree with your Viking opinion. Overpriced and inconsistent. The grill was horrible, the oven was worse and the stovetop would not let you simmer . My Mom’s Sear’s brand (from 50 years ago) was better. The girddle was OK.

And their customer service is just non exsistent.

Yeah, I’m a man’s man.

[Ozzie]

I will agree with your Viking opinion. Overpriced and inconsistent. The grill was horrible, the oven was worse and the stovetop would not let you simmer . My Mom’s Sear’s brand (from 50 years ago) was better. The girddle was OK.

And their customer service is just non exsistent.

Yeah, I’m a man’s man.

[Ozzie]

I will agree with your Viking opinion. Overpriced and inconsistent. The grill was horrible, the oven was worse and the stovetop would not let you simmer . My Mom’s Sear’s brand (from 50 years ago) was better. The girddle was OK.

And their customer service is just non exsistent.

Yeah, I’m a man’s man.

[Ozzie]

I predict an 80% drop because I want to buy a place on the West side of Neptune for $600k.

Let’s do this!!!!!!

Booyahh! (as Kramer would say)

[Ozzie]

I predict an 80% drop because I want to buy a place on the West side of Neptune for $600k.

Let’s do this!!!!!!

Booyahh! (as Kramer would say)

[Ozzie]

I predict an 80% drop because I want to buy a place on the West side of Neptune for $600k.

Let’s do this!!!!!!

Booyahh! (as Kramer would say)

[Ozzie]

They love it there and his job is very solid with a big pension building, etc. I think the credit crunch will ease in 6-12 months and then he’ll qualify. Prices should be down a little there although you never know. The dot come mess was much worse in that area than any other in the country and prices didn’t budge – in fact they accelerated.

[Ozzie]

They love it there and his job is very solid with a big pension building, etc. I think the credit crunch will ease in 6-12 months and then he’ll qualify. Prices should be down a little there although you never know. The dot come mess was much worse in that area than any other in the country and prices didn’t budge – in fact they accelerated.

[Ozzie]

They love it there and his job is very solid with a big pension building, etc. I think the credit crunch will ease in 6-12 months and then he’ll qualify. Prices should be down a little there although you never know. The dot come mess was much worse in that area than any other in the country and prices didn’t budge – in fact they accelerated.

[Ozzie]

I didn’t ask him for a W-2 and a list of his debts, but I assume he makes a bit over $100k and I’m sure his FICO is 700+. This is in the SF Bay Area and his reason for moving was a bigger home as they were in a home a little over 1,000 sq feet (with 2 small kids) which I think they sold for over $700k. If you think prices are high here you should see what $700k buys you in Marin County, SF, or the San Jose area.

My point is that lenders have gone from overly lax to overly harsh in a matter of weeks. Of course he should qualify. Any lender in their right mind is going to lend to someone who is making that kind of down payment even if it’s 60% of his take home pay. No way is he going to walk from that kind of down payment and if he does there’s more than enough equity to withstand a horrific housing correction.

[Ozzie]

I didn’t ask him for a W-2 and a list of his debts, but I assume he makes a bit over $100k and I’m sure his FICO is 700+. This is in the SF Bay Area and his reason for moving was a bigger home as they were in a home a little over 1,000 sq feet (with 2 small kids) which I think they sold for over $700k. If you think prices are high here you should see what $700k buys you in Marin County, SF, or the San Jose area.

My point is that lenders have gone from overly lax to overly harsh in a matter of weeks. Of course he should qualify. Any lender in their right mind is going to lend to someone who is making that kind of down payment even if it’s 60% of his take home pay. No way is he going to walk from that kind of down payment and if he does there’s more than enough equity to withstand a horrific housing correction.

[Author]

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