Forum Replies Created
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AuthorPosts
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Rt.66
ParticipantTemeculaGuy:
RealtyTrac (RT) has a nice interactive map you can use for free. No need to prescribe because knowing which bank owns the property does you no good because TV is doing so good they aren’t even bothering to sell the foreclosures:) RT shows TV burning, so you hate it.
Your assessment of RT is the polar opposite of what experts are saying and what I have seen. Experts say there is a GIGANTIC shadow inventory of homes in CA the banks are hiding; TemeculaGuy says the foreclosures have been scooped up by happy buyers.
I have seen countless houses over the past three years pop-up on RT, never sell and silently disappear from RT. These are part of the shadow. inv.
I see houses pop-up on RT as pre-foreclosures and later become listed as sold at some high price when in fact they have merely been “sold” at a courthouse auction, back to the bank.
I know of three houses in one hood that have been working their way through foreclosure and never popped up on RT or any other foreclosure site I’ve seen.
The last house I looked at in February was a short sale, it was listed on RT. When it went into preforclosure it completely dropped off RT. No record of it at all.
For every legit “sold” house that RT lists as still a foreclosure I bet there are 50 foreclosures not listed anymore and several “solds” where the bank is the buyer.
You are flying headlong into a very strong wind with your bottom calling.
——————–Lawrence Summers, director of the White House National Economic Council.
“I expect the economy will continue to decline,” with “sharp declines in employment for quite some time this year,” Summers said today on “Fox News Sunday.”
—————————A second, punishing wave of home foreclosures is poised to strike just as the subprime mortgage mess ebbs, an economist in Kansas City said Thursday
Kelly Edmiston, senior economist for the Federal Reserve Bank of Kansas City
Lenders laid the groundwork for this second foreclosure wave in 2005 and 2006, Edmiston said. Those years saw a surge in mortgages on which borrowers were required to make relatively small monthly payments for the first five years.
It was the height of the housing bubble, and buyers turned to such loans, called interest-only mortgages and payment-option adjustable-rate mortgages, as one way to jump into the runaway market.
Those low house payments are poised to reset to much higher levels in 2010 and 2011 and push more owners out of their homes, Edmiston said.
Subprime mortgages fueled their own foreclosure crisis earlier because their payments typically reset after only two years instead of five.
According to Edmiston, these next mortgage resets will mean even larger leaps in house payments than the subprime mortgage resets that forced one in five subprime borrowers with adjustable interest rates into foreclosure.
Kansas City’s housing market may suffer less from this second wave, Edmiston said. He said interest-only and payment-option mortgages weren’t as widely used here because housing remained more affordable than in California, Florida and similar markets.
The weak economy, however, is adding to this second foreclosure wave by pushing traditional mortgage customers into default, Edmiston said.
That combination leads him to suspect that the foreclosure problem isn’t about to go away.
————————-
Your TV RE bottom has some nasty issues to deal with all the way into 2011.
I believe no rational person could truly believe that:
1) A huge 80K CA shadow inventory
2) Tsunami of foreclosures coming
3) Foreclosure moratoriums manipulating supply
4) Worst CA unemployment since GD1 and ACCELERATING
5) Our nation imploding with 100 year old symbols of our nation’s manufacturing dyeing
6) Entire countries going bankrupt
7) Trillion$$ and Trillion$$ of derivatives still waiting to explodemeans the bottom is in or almost in, or now is a good time to buy.
Unless they have skin in the game or stand to make a commision.
ParticipantTemeculaGuy:
RealtyTrac (RT) has a nice interactive map you can use for free. No need to prescribe because knowing which bank owns the property does you no good because TV is doing so good they aren’t even bothering to sell the foreclosures:) RT shows TV burning, so you hate it.
Your assessment of RT is the polar opposite of what experts are saying and what I have seen. Experts say there is a GIGANTIC shadow inventory of homes in CA the banks are hiding; TemeculaGuy says the foreclosures have been scooped up by happy buyers.
I have seen countless houses over the past three years pop-up on RT, never sell and silently disappear from RT. These are part of the shadow. inv.
I see houses pop-up on RT as pre-foreclosures and later become listed as sold at some high price when in fact they have merely been “sold” at a courthouse auction, back to the bank.
I know of three houses in one hood that have been working their way through foreclosure and never popped up on RT or any other foreclosure site I’ve seen.
The last house I looked at in February was a short sale, it was listed on RT. When it went into preforclosure it completely dropped off RT. No record of it at all.
For every legit “sold” house that RT lists as still a foreclosure I bet there are 50 foreclosures not listed anymore and several “solds” where the bank is the buyer.
You are flying headlong into a very strong wind with your bottom calling.
——————–Lawrence Summers, director of the White House National Economic Council.
“I expect the economy will continue to decline,” with “sharp declines in employment for quite some time this year,” Summers said today on “Fox News Sunday.”
—————————A second, punishing wave of home foreclosures is poised to strike just as the subprime mortgage mess ebbs, an economist in Kansas City said Thursday
Kelly Edmiston, senior economist for the Federal Reserve Bank of Kansas City
Lenders laid the groundwork for this second foreclosure wave in 2005 and 2006, Edmiston said. Those years saw a surge in mortgages on which borrowers were required to make relatively small monthly payments for the first five years.
It was the height of the housing bubble, and buyers turned to such loans, called interest-only mortgages and payment-option adjustable-rate mortgages, as one way to jump into the runaway market.
Those low house payments are poised to reset to much higher levels in 2010 and 2011 and push more owners out of their homes, Edmiston said.
Subprime mortgages fueled their own foreclosure crisis earlier because their payments typically reset after only two years instead of five.
According to Edmiston, these next mortgage resets will mean even larger leaps in house payments than the subprime mortgage resets that forced one in five subprime borrowers with adjustable interest rates into foreclosure.
Kansas City’s housing market may suffer less from this second wave, Edmiston said. He said interest-only and payment-option mortgages weren’t as widely used here because housing remained more affordable than in California, Florida and similar markets.
The weak economy, however, is adding to this second foreclosure wave by pushing traditional mortgage customers into default, Edmiston said.
That combination leads him to suspect that the foreclosure problem isn’t about to go away.
————————-
Your TV RE bottom has some nasty issues to deal with all the way into 2011.
I believe no rational person could truly believe that:
1) A huge 80K CA shadow inventory
2) Tsunami of foreclosures coming
3) Foreclosure moratoriums manipulating supply
4) Worst CA unemployment since GD1 and ACCELERATING
5) Our nation imploding with 100 year old symbols of our nation’s manufacturing dyeing
6) Entire countries going bankrupt
7) Trillion$$ and Trillion$$ of derivatives still waiting to explodemeans the bottom is in or almost in, or now is a good time to buy.
Unless they have skin in the game or stand to make a commision.
ParticipantTemeculaGuy:
RealtyTrac (RT) has a nice interactive map you can use for free. No need to prescribe because knowing which bank owns the property does you no good because TV is doing so good they aren’t even bothering to sell the foreclosures:) RT shows TV burning, so you hate it.
Your assessment of RT is the polar opposite of what experts are saying and what I have seen. Experts say there is a GIGANTIC shadow inventory of homes in CA the banks are hiding; TemeculaGuy says the foreclosures have been scooped up by happy buyers.
I have seen countless houses over the past three years pop-up on RT, never sell and silently disappear from RT. These are part of the shadow. inv.
I see houses pop-up on RT as pre-foreclosures and later become listed as sold at some high price when in fact they have merely been “sold” at a courthouse auction, back to the bank.
I know of three houses in one hood that have been working their way through foreclosure and never popped up on RT or any other foreclosure site I’ve seen.
The last house I looked at in February was a short sale, it was listed on RT. When it went into preforclosure it completely dropped off RT. No record of it at all.
For every legit “sold” house that RT lists as still a foreclosure I bet there are 50 foreclosures not listed anymore and several “solds” where the bank is the buyer.
You are flying headlong into a very strong wind with your bottom calling.
——————–Lawrence Summers, director of the White House National Economic Council.
“I expect the economy will continue to decline,” with “sharp declines in employment for quite some time this year,” Summers said today on “Fox News Sunday.”
—————————A second, punishing wave of home foreclosures is poised to strike just as the subprime mortgage mess ebbs, an economist in Kansas City said Thursday
Kelly Edmiston, senior economist for the Federal Reserve Bank of Kansas City
Lenders laid the groundwork for this second foreclosure wave in 2005 and 2006, Edmiston said. Those years saw a surge in mortgages on which borrowers were required to make relatively small monthly payments for the first five years.
It was the height of the housing bubble, and buyers turned to such loans, called interest-only mortgages and payment-option adjustable-rate mortgages, as one way to jump into the runaway market.
Those low house payments are poised to reset to much higher levels in 2010 and 2011 and push more owners out of their homes, Edmiston said.
Subprime mortgages fueled their own foreclosure crisis earlier because their payments typically reset after only two years instead of five.
According to Edmiston, these next mortgage resets will mean even larger leaps in house payments than the subprime mortgage resets that forced one in five subprime borrowers with adjustable interest rates into foreclosure.
Kansas City’s housing market may suffer less from this second wave, Edmiston said. He said interest-only and payment-option mortgages weren’t as widely used here because housing remained more affordable than in California, Florida and similar markets.
The weak economy, however, is adding to this second foreclosure wave by pushing traditional mortgage customers into default, Edmiston said.
That combination leads him to suspect that the foreclosure problem isn’t about to go away.
————————-
Your TV RE bottom has some nasty issues to deal with all the way into 2011.
I believe no rational person could truly believe that:
1) A huge 80K CA shadow inventory
2) Tsunami of foreclosures coming
3) Foreclosure moratoriums manipulating supply
4) Worst CA unemployment since GD1 and ACCELERATING
5) Our nation imploding with 100 year old symbols of our nation’s manufacturing dyeing
6) Entire countries going bankrupt
7) Trillion$$ and Trillion$$ of derivatives still waiting to explodemeans the bottom is in or almost in, or now is a good time to buy.
Unless they have skin in the game or stand to make a commision.
ParticipantTemeculaGuy:
RealtyTrac (RT) has a nice interactive map you can use for free. No need to prescribe because knowing which bank owns the property does you no good because TV is doing so good they aren’t even bothering to sell the foreclosures:) RT shows TV burning, so you hate it.
Your assessment of RT is the polar opposite of what experts are saying and what I have seen. Experts say there is a GIGANTIC shadow inventory of homes in CA the banks are hiding; TemeculaGuy says the foreclosures have been scooped up by happy buyers.
I have seen countless houses over the past three years pop-up on RT, never sell and silently disappear from RT. These are part of the shadow. inv.
I see houses pop-up on RT as pre-foreclosures and later become listed as sold at some high price when in fact they have merely been “sold” at a courthouse auction, back to the bank.
I know of three houses in one hood that have been working their way through foreclosure and never popped up on RT or any other foreclosure site I’ve seen.
The last house I looked at in February was a short sale, it was listed on RT. When it went into preforclosure it completely dropped off RT. No record of it at all.
For every legit “sold” house that RT lists as still a foreclosure I bet there are 50 foreclosures not listed anymore and several “solds” where the bank is the buyer.
You are flying headlong into a very strong wind with your bottom calling.
——————–Lawrence Summers, director of the White House National Economic Council.
“I expect the economy will continue to decline,” with “sharp declines in employment for quite some time this year,” Summers said today on “Fox News Sunday.”
—————————A second, punishing wave of home foreclosures is poised to strike just as the subprime mortgage mess ebbs, an economist in Kansas City said Thursday
Kelly Edmiston, senior economist for the Federal Reserve Bank of Kansas City
Lenders laid the groundwork for this second foreclosure wave in 2005 and 2006, Edmiston said. Those years saw a surge in mortgages on which borrowers were required to make relatively small monthly payments for the first five years.
It was the height of the housing bubble, and buyers turned to such loans, called interest-only mortgages and payment-option adjustable-rate mortgages, as one way to jump into the runaway market.
Those low house payments are poised to reset to much higher levels in 2010 and 2011 and push more owners out of their homes, Edmiston said.
Subprime mortgages fueled their own foreclosure crisis earlier because their payments typically reset after only two years instead of five.
According to Edmiston, these next mortgage resets will mean even larger leaps in house payments than the subprime mortgage resets that forced one in five subprime borrowers with adjustable interest rates into foreclosure.
Kansas City’s housing market may suffer less from this second wave, Edmiston said. He said interest-only and payment-option mortgages weren’t as widely used here because housing remained more affordable than in California, Florida and similar markets.
The weak economy, however, is adding to this second foreclosure wave by pushing traditional mortgage customers into default, Edmiston said.
That combination leads him to suspect that the foreclosure problem isn’t about to go away.
————————-
Your TV RE bottom has some nasty issues to deal with all the way into 2011.
I believe no rational person could truly believe that:
1) A huge 80K CA shadow inventory
2) Tsunami of foreclosures coming
3) Foreclosure moratoriums manipulating supply
4) Worst CA unemployment since GD1 and ACCELERATING
5) Our nation imploding with 100 year old symbols of our nation’s manufacturing dyeing
6) Entire countries going bankrupt
7) Trillion$$ and Trillion$$ of derivatives still waiting to explodemeans the bottom is in or almost in, or now is a good time to buy.
Unless they have skin in the game or stand to make a commision.
ParticipantParticipantParticipantParticipantParticipantParticipant[quote=temeculaguy]And the horse you rode in on! Really, you sure you want to call me a chump? How many screen names do you have and do you really want to get another one?All I did was stick my neck out and make a prediction, one that I will gladly be ridiculed for over time if it turns out to be wrong. But I supported my argument with research, you told what only you consider is a funny joke.
250 REO’s is less than 2 months supply, who the fu$% cares. You have little to no clue about which you spew. Do not apply broad brush strokes and cliches to micro markets.
That 230k on main street works because it is 4x median income and 2x income for most of the shoppers. It doesn’t “seem” that everyone wants it, everyone does. I spent three years stalking a single zip code, I tracked every repo, every nod, every brown lawn. I know how many nods and nots there were six months ago, a year ago, two years ago and I followed them. A lot of inventory came out of the shadows here already, there are plenty of pending nod’s and not’s but compared to six months ago, a year ago, the speed and volume is slowing. There were more than 250 listings in every 100k price category last year, fromm 200k-300k, over 250, from 300k-400k, over 250, and so on. For three years I tracked every 100k category weekly and often the mls would notify me that there were more than 250, so I began grouping them into 75k chunks, now I can type “everything over 400k” and get less than a hundred. Over 350k and under 350k will cover the entire search, it used to take six groupings to capture the data.
Based on everything I see, not what some conspiracy knucklehead tells me but my own data searches that I and I alone have performed in a ritualistic fashion over years, I say the end of the pity party is near. I have street cred that I have earned over time, you do not, I have adoring fans, you do not, and I just looked in the mirror and I didn’t see a chump, did you?[/quote]
I did not single you out as a chump, hence the “s” on the end (chumpS). So unless you are plural, you can relax. However, if “you” believed someone holding thousands of houses when they told you that only putting a few on the market cannot DRASTICALLY increase housing prices then maybe? If you also believed that the coming wave of new REOs will not have an adverse affect on prices then the shoe fits?
I’ve had two screen names, Scarlet before RT.66. There is another Scarlett (2 Ts) so I changed it, no conspiracy about it.
The 250 number was random of course, but also for a area, like a hood, a few streets not all of TV. We all know that 250 is absurdly low for all of TV.
The banks are manipulating supply, everyone “should” know this. There is a tsunami of new preforeclosures and foreclosures on RealtyTrac right now, today. Again anybody can search this. If you buy a house in TV today because you believed someone who said inventory is low, you are indeed a chump.
We don’t have to argue about who’s facts or figures are more accurate. Anyone on this board can go hereand see for themselves:
And don’t forget that the shadow inventory houses are in ADDITION to that ugly picture from the link.
The banks love folks like you. Banks spew total BS, hide 80k houses in CA alone, stall foreclosures and instead of everyone collectively calling BULLSHIT! on them some folks who have skin in the game or need a commision buy it hook-line-and-sinker and perpetuate the BS.
TVGuy, post a RealtyTrac search of your vaulted zip code so we can see how good its doing?
Piggs need a voice of reason to counter the ultra cheerleaders. Most folks who buy today in TV will lose TENS OF THOUSAND$ that may never come back.
Look around you. Look at the foreclosures over the entire country. Ask yourself how banks are going to deal with this. Look at jobs and businesses closing all over. We have seen nothing since GD1 even close to the magnitude of what is happening now and its just getting started. You might want to think about the money people who listen to you will lose.
Participant[quote=temeculaguy]And the horse you rode in on! Really, you sure you want to call me a chump? How many screen names do you have and do you really want to get another one?All I did was stick my neck out and make a prediction, one that I will gladly be ridiculed for over time if it turns out to be wrong. But I supported my argument with research, you told what only you consider is a funny joke.
250 REO’s is less than 2 months supply, who the fu$% cares. You have little to no clue about which you spew. Do not apply broad brush strokes and cliches to micro markets.
That 230k on main street works because it is 4x median income and 2x income for most of the shoppers. It doesn’t “seem” that everyone wants it, everyone does. I spent three years stalking a single zip code, I tracked every repo, every nod, every brown lawn. I know how many nods and nots there were six months ago, a year ago, two years ago and I followed them. A lot of inventory came out of the shadows here already, there are plenty of pending nod’s and not’s but compared to six months ago, a year ago, the speed and volume is slowing. There were more than 250 listings in every 100k price category last year, fromm 200k-300k, over 250, from 300k-400k, over 250, and so on. For three years I tracked every 100k category weekly and often the mls would notify me that there were more than 250, so I began grouping them into 75k chunks, now I can type “everything over 400k” and get less than a hundred. Over 350k and under 350k will cover the entire search, it used to take six groupings to capture the data.
Based on everything I see, not what some conspiracy knucklehead tells me but my own data searches that I and I alone have performed in a ritualistic fashion over years, I say the end of the pity party is near. I have street cred that I have earned over time, you do not, I have adoring fans, you do not, and I just looked in the mirror and I didn’t see a chump, did you?[/quote]
I did not single you out as a chump, hence the “s” on the end (chumpS). So unless you are plural, you can relax. However, if “you” believed someone holding thousands of houses when they told you that only putting a few on the market cannot DRASTICALLY increase housing prices then maybe? If you also believed that the coming wave of new REOs will not have an adverse affect on prices then the shoe fits?
I’ve had two screen names, Scarlet before RT.66. There is another Scarlett (2 Ts) so I changed it, no conspiracy about it.
The 250 number was random of course, but also for a area, like a hood, a few streets not all of TV. We all know that 250 is absurdly low for all of TV.
The banks are manipulating supply, everyone “should” know this. There is a tsunami of new preforeclosures and foreclosures on RealtyTrac right now, today. Again anybody can search this. If you buy a house in TV today because you believed someone who said inventory is low, you are indeed a chump.
We don’t have to argue about who’s facts or figures are more accurate. Anyone on this board can go hereand see for themselves:
And don’t forget that the shadow inventory houses are in ADDITION to that ugly picture from the link.
The banks love folks like you. Banks spew total BS, hide 80k houses in CA alone, stall foreclosures and instead of everyone collectively calling BULLSHIT! on them some folks who have skin in the game or need a commision buy it hook-line-and-sinker and perpetuate the BS.
TVGuy, post a RealtyTrac search of your vaulted zip code so we can see how good its doing?
Piggs need a voice of reason to counter the ultra cheerleaders. Most folks who buy today in TV will lose TENS OF THOUSAND$ that may never come back.
Look around you. Look at the foreclosures over the entire country. Ask yourself how banks are going to deal with this. Look at jobs and businesses closing all over. We have seen nothing since GD1 even close to the magnitude of what is happening now and its just getting started. You might want to think about the money people who listen to you will lose.
Participant[quote=temeculaguy]And the horse you rode in on! Really, you sure you want to call me a chump? How many screen names do you have and do you really want to get another one?All I did was stick my neck out and make a prediction, one that I will gladly be ridiculed for over time if it turns out to be wrong. But I supported my argument with research, you told what only you consider is a funny joke.
250 REO’s is less than 2 months supply, who the fu$% cares. You have little to no clue about which you spew. Do not apply broad brush strokes and cliches to micro markets.
That 230k on main street works because it is 4x median income and 2x income for most of the shoppers. It doesn’t “seem” that everyone wants it, everyone does. I spent three years stalking a single zip code, I tracked every repo, every nod, every brown lawn. I know how many nods and nots there were six months ago, a year ago, two years ago and I followed them. A lot of inventory came out of the shadows here already, there are plenty of pending nod’s and not’s but compared to six months ago, a year ago, the speed and volume is slowing. There were more than 250 listings in every 100k price category last year, fromm 200k-300k, over 250, from 300k-400k, over 250, and so on. For three years I tracked every 100k category weekly and often the mls would notify me that there were more than 250, so I began grouping them into 75k chunks, now I can type “everything over 400k” and get less than a hundred. Over 350k and under 350k will cover the entire search, it used to take six groupings to capture the data.
Based on everything I see, not what some conspiracy knucklehead tells me but my own data searches that I and I alone have performed in a ritualistic fashion over years, I say the end of the pity party is near. I have street cred that I have earned over time, you do not, I have adoring fans, you do not, and I just looked in the mirror and I didn’t see a chump, did you?[/quote]
I did not single you out as a chump, hence the “s” on the end (chumpS). So unless you are plural, you can relax. However, if “you” believed someone holding thousands of houses when they told you that only putting a few on the market cannot DRASTICALLY increase housing prices then maybe? If you also believed that the coming wave of new REOs will not have an adverse affect on prices then the shoe fits?
I’ve had two screen names, Scarlet before RT.66. There is another Scarlett (2 Ts) so I changed it, no conspiracy about it.
The 250 number was random of course, but also for a area, like a hood, a few streets not all of TV. We all know that 250 is absurdly low for all of TV.
The banks are manipulating supply, everyone “should” know this. There is a tsunami of new preforeclosures and foreclosures on RealtyTrac right now, today. Again anybody can search this. If you buy a house in TV today because you believed someone who said inventory is low, you are indeed a chump.
We don’t have to argue about who’s facts or figures are more accurate. Anyone on this board can go hereand see for themselves:
And don’t forget that the shadow inventory houses are in ADDITION to that ugly picture from the link.
The banks love folks like you. Banks spew total BS, hide 80k houses in CA alone, stall foreclosures and instead of everyone collectively calling BULLSHIT! on them some folks who have skin in the game or need a commision buy it hook-line-and-sinker and perpetuate the BS.
TVGuy, post a RealtyTrac search of your vaulted zip code so we can see how good its doing?
Piggs need a voice of reason to counter the ultra cheerleaders. Most folks who buy today in TV will lose TENS OF THOUSAND$ that may never come back.
Look around you. Look at the foreclosures over the entire country. Ask yourself how banks are going to deal with this. Look at jobs and businesses closing all over. We have seen nothing since GD1 even close to the magnitude of what is happening now and its just getting started. You might want to think about the money people who listen to you will lose.
Participant[quote=temeculaguy]And the horse you rode in on! Really, you sure you want to call me a chump? How many screen names do you have and do you really want to get another one?All I did was stick my neck out and make a prediction, one that I will gladly be ridiculed for over time if it turns out to be wrong. But I supported my argument with research, you told what only you consider is a funny joke.
250 REO’s is less than 2 months supply, who the fu$% cares. You have little to no clue about which you spew. Do not apply broad brush strokes and cliches to micro markets.
That 230k on main street works because it is 4x median income and 2x income for most of the shoppers. It doesn’t “seem” that everyone wants it, everyone does. I spent three years stalking a single zip code, I tracked every repo, every nod, every brown lawn. I know how many nods and nots there were six months ago, a year ago, two years ago and I followed them. A lot of inventory came out of the shadows here already, there are plenty of pending nod’s and not’s but compared to six months ago, a year ago, the speed and volume is slowing. There were more than 250 listings in every 100k price category last year, fromm 200k-300k, over 250, from 300k-400k, over 250, and so on. For three years I tracked every 100k category weekly and often the mls would notify me that there were more than 250, so I began grouping them into 75k chunks, now I can type “everything over 400k” and get less than a hundred. Over 350k and under 350k will cover the entire search, it used to take six groupings to capture the data.
Based on everything I see, not what some conspiracy knucklehead tells me but my own data searches that I and I alone have performed in a ritualistic fashion over years, I say the end of the pity party is near. I have street cred that I have earned over time, you do not, I have adoring fans, you do not, and I just looked in the mirror and I didn’t see a chump, did you?[/quote]
I did not single you out as a chump, hence the “s” on the end (chumpS). So unless you are plural, you can relax. However, if “you” believed someone holding thousands of houses when they told you that only putting a few on the market cannot DRASTICALLY increase housing prices then maybe? If you also believed that the coming wave of new REOs will not have an adverse affect on prices then the shoe fits?
I’ve had two screen names, Scarlet before RT.66. There is another Scarlett (2 Ts) so I changed it, no conspiracy about it.
The 250 number was random of course, but also for a area, like a hood, a few streets not all of TV. We all know that 250 is absurdly low for all of TV.
The banks are manipulating supply, everyone “should” know this. There is a tsunami of new preforeclosures and foreclosures on RealtyTrac right now, today. Again anybody can search this. If you buy a house in TV today because you believed someone who said inventory is low, you are indeed a chump.
We don’t have to argue about who’s facts or figures are more accurate. Anyone on this board can go hereand see for themselves:
And don’t forget that the shadow inventory houses are in ADDITION to that ugly picture from the link.
The banks love folks like you. Banks spew total BS, hide 80k houses in CA alone, stall foreclosures and instead of everyone collectively calling BULLSHIT! on them some folks who have skin in the game or need a commision buy it hook-line-and-sinker and perpetuate the BS.
TVGuy, post a RealtyTrac search of your vaulted zip code so we can see how good its doing?
Piggs need a voice of reason to counter the ultra cheerleaders. Most folks who buy today in TV will lose TENS OF THOUSAND$ that may never come back.
Look around you. Look at the foreclosures over the entire country. Ask yourself how banks are going to deal with this. Look at jobs and businesses closing all over. We have seen nothing since GD1 even close to the magnitude of what is happening now and its just getting started. You might want to think about the money people who listen to you will lose.
Participant[quote=temeculaguy]And the horse you rode in on! Really, you sure you want to call me a chump? How many screen names do you have and do you really want to get another one?All I did was stick my neck out and make a prediction, one that I will gladly be ridiculed for over time if it turns out to be wrong. But I supported my argument with research, you told what only you consider is a funny joke.
250 REO’s is less than 2 months supply, who the fu$% cares. You have little to no clue about which you spew. Do not apply broad brush strokes and cliches to micro markets.
That 230k on main street works because it is 4x median income and 2x income for most of the shoppers. It doesn’t “seem” that everyone wants it, everyone does. I spent three years stalking a single zip code, I tracked every repo, every nod, every brown lawn. I know how many nods and nots there were six months ago, a year ago, two years ago and I followed them. A lot of inventory came out of the shadows here already, there are plenty of pending nod’s and not’s but compared to six months ago, a year ago, the speed and volume is slowing. There were more than 250 listings in every 100k price category last year, fromm 200k-300k, over 250, from 300k-400k, over 250, and so on. For three years I tracked every 100k category weekly and often the mls would notify me that there were more than 250, so I began grouping them into 75k chunks, now I can type “everything over 400k” and get less than a hundred. Over 350k and under 350k will cover the entire search, it used to take six groupings to capture the data.
Based on everything I see, not what some conspiracy knucklehead tells me but my own data searches that I and I alone have performed in a ritualistic fashion over years, I say the end of the pity party is near. I have street cred that I have earned over time, you do not, I have adoring fans, you do not, and I just looked in the mirror and I didn’t see a chump, did you?[/quote]
I did not single you out as a chump, hence the “s” on the end (chumpS). So unless you are plural, you can relax. However, if “you” believed someone holding thousands of houses when they told you that only putting a few on the market cannot DRASTICALLY increase housing prices then maybe? If you also believed that the coming wave of new REOs will not have an adverse affect on prices then the shoe fits?
I’ve had two screen names, Scarlet before RT.66. There is another Scarlett (2 Ts) so I changed it, no conspiracy about it.
The 250 number was random of course, but also for a area, like a hood, a few streets not all of TV. We all know that 250 is absurdly low for all of TV.
The banks are manipulating supply, everyone “should” know this. There is a tsunami of new preforeclosures and foreclosures on RealtyTrac right now, today. Again anybody can search this. If you buy a house in TV today because you believed someone who said inventory is low, you are indeed a chump.
We don’t have to argue about who’s facts or figures are more accurate. Anyone on this board can go hereand see for themselves:
And don’t forget that the shadow inventory houses are in ADDITION to that ugly picture from the link.
The banks love folks like you. Banks spew total BS, hide 80k houses in CA alone, stall foreclosures and instead of everyone collectively calling BULLSHIT! on them some folks who have skin in the game or need a commision buy it hook-line-and-sinker and perpetuate the BS.
TVGuy, post a RealtyTrac search of your vaulted zip code so we can see how good its doing?
Piggs need a voice of reason to counter the ultra cheerleaders. Most folks who buy today in TV will lose TENS OF THOUSAND$ that may never come back.
Look around you. Look at the foreclosures over the entire country. Ask yourself how banks are going to deal with this. Look at jobs and businesses closing all over. We have seen nothing since GD1 even close to the magnitude of what is happening now and its just getting started. You might want to think about the money people who listen to you will lose.
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