[pencilneck]

Thank you.

Some of the numbers seem so arbitrary that I still think I’m missing something.

I’m seeing things like a sale in 2005 for $450k, foreclosure listed as a sale in 2008 for $550k, and immediately placed on the market for $399k.

It would make some sense if the $550k represented the total amount owed on the property when foreclosed, as Diego suggested, but to record $550k on the tax roll still makes no sense to me.

[pencilneck]

Thank you.

Some of the numbers seem so arbitrary that I still think I’m missing something.

I’m seeing things like a sale in 2005 for $450k, foreclosure listed as a sale in 2008 for $550k, and immediately placed on the market for $399k.

It would make some sense if the $550k represented the total amount owed on the property when foreclosed, as Diego suggested, but to record $550k on the tax roll still makes no sense to me.

[pencilneck]

Thank you.

Some of the numbers seem so arbitrary that I still think I’m missing something.

I’m seeing things like a sale in 2005 for $450k, foreclosure listed as a sale in 2008 for $550k, and immediately placed on the market for $399k.

It would make some sense if the $550k represented the total amount owed on the property when foreclosed, as Diego suggested, but to record $550k on the tax roll still makes no sense to me.

[pencilneck]

Thank you.

Some of the numbers seem so arbitrary that I still think I’m missing something.

I’m seeing things like a sale in 2005 for $450k, foreclosure listed as a sale in 2008 for $550k, and immediately placed on the market for $399k.

It would make some sense if the $550k represented the total amount owed on the property when foreclosed, as Diego suggested, but to record $550k on the tax roll still makes no sense to me.

[pencilneck]

I’ve read that there are strong correlations with residential real estate and commercial real estate, but residential real estate cycles lead commercial real estate cycles by about 2-3 years. The study I looked at was national, not local, but seems worth mentioning nonetheless.

Hows that for unscientific?

[pencilneck]

I’ve read that there are strong correlations with residential real estate and commercial real estate, but residential real estate cycles lead commercial real estate cycles by about 2-3 years. The study I looked at was national, not local, but seems worth mentioning nonetheless.

Hows that for unscientific?

[pencilneck]

I’ve read that there are strong correlations with residential real estate and commercial real estate, but residential real estate cycles lead commercial real estate cycles by about 2-3 years. The study I looked at was national, not local, but seems worth mentioning nonetheless.

Hows that for unscientific?

[pencilneck]

I’ve read that there are strong correlations with residential real estate and commercial real estate, but residential real estate cycles lead commercial real estate cycles by about 2-3 years. The study I looked at was national, not local, but seems worth mentioning nonetheless.

Hows that for unscientific?

[pencilneck]

I’ve read that there are strong correlations with residential real estate and commercial real estate, but residential real estate cycles lead commercial real estate cycles by about 2-3 years. The study I looked at was national, not local, but seems worth mentioning nonetheless.

Hows that for unscientific?

[pencilneck]

I had a cocktail conversation a few years ago with a lady who worked for Accredited Lending (LEND), and her job was to provide documents that justified the lies made by the real estate agents and borrowers long enough they could repackage the loans and sell them to Countrywide so that Countrywide could repackage them and sold them to Fannie Mae.

She said that both buyers and agents would sign and do anything to get the home sale done (buyers are stupid and agents need their commission) and she said that making the loans look presentable was a challenge. She mentioned a procedure that was called “Cut and Paste” but didn’t go into much detail. I mentioned that her job sounded a lot like loan fraud and the conversation sort of ended.

My own personal belief, based on very little evidence, is that fraud was very widespread and at every level of the foodchain.

[pencilneck]

I had a cocktail conversation a few years ago with a lady who worked for Accredited Lending (LEND), and her job was to provide documents that justified the lies made by the real estate agents and borrowers long enough they could repackage the loans and sell them to Countrywide so that Countrywide could repackage them and sold them to Fannie Mae.

She said that both buyers and agents would sign and do anything to get the home sale done (buyers are stupid and agents need their commission) and she said that making the loans look presentable was a challenge. She mentioned a procedure that was called “Cut and Paste” but didn’t go into much detail. I mentioned that her job sounded a lot like loan fraud and the conversation sort of ended.

My own personal belief, based on very little evidence, is that fraud was very widespread and at every level of the foodchain.

[pencilneck]

I had a cocktail conversation a few years ago with a lady who worked for Accredited Lending (LEND), and her job was to provide documents that justified the lies made by the real estate agents and borrowers long enough they could repackage the loans and sell them to Countrywide so that Countrywide could repackage them and sold them to Fannie Mae.

She said that both buyers and agents would sign and do anything to get the home sale done (buyers are stupid and agents need their commission) and she said that making the loans look presentable was a challenge. She mentioned a procedure that was called “Cut and Paste” but didn’t go into much detail. I mentioned that her job sounded a lot like loan fraud and the conversation sort of ended.

My own personal belief, based on very little evidence, is that fraud was very widespread and at every level of the foodchain.

[pencilneck]

I had a cocktail conversation a few years ago with a lady who worked for Accredited Lending (LEND), and her job was to provide documents that justified the lies made by the real estate agents and borrowers long enough they could repackage the loans and sell them to Countrywide so that Countrywide could repackage them and sold them to Fannie Mae.

She said that both buyers and agents would sign and do anything to get the home sale done (buyers are stupid and agents need their commission) and she said that making the loans look presentable was a challenge. She mentioned a procedure that was called “Cut and Paste” but didn’t go into much detail. I mentioned that her job sounded a lot like loan fraud and the conversation sort of ended.

My own personal belief, based on very little evidence, is that fraud was very widespread and at every level of the foodchain.

[pencilneck]

I had a cocktail conversation a few years ago with a lady who worked for Accredited Lending (LEND), and her job was to provide documents that justified the lies made by the real estate agents and borrowers long enough they could repackage the loans and sell them to Countrywide so that Countrywide could repackage them and sold them to Fannie Mae.

She said that both buyers and agents would sign and do anything to get the home sale done (buyers are stupid and agents need their commission) and she said that making the loans look presentable was a challenge. She mentioned a procedure that was called “Cut and Paste” but didn’t go into much detail. I mentioned that her job sounded a lot like loan fraud and the conversation sort of ended.

My own personal belief, based on very little evidence, is that fraud was very widespread and at every level of the foodchain.

[pencilneck]

Just a quick comment on a statement made above:

“It took Japan about 16 years to recover from their bubble.”

Real estate prices dropped for nearly 16 years. But to call a cessation of the decline a recovery is a bit of a stretch.

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