[Rt.66]

I think that your belief that we can extrapolate to a degree is a fair assumption.

“Being that S.Cal is far more desirable the cycle is a few years delayed but the prime areas WILL come down to reality.”

I fully agree.

That article (if one actually reads it) points out SDs position and seeming quandary very well. Which is to say that desirable areas defy gravity the longest but eventually succumb to the bursting of bubbles? Should not be a surprise to any of us.

“ The ZIP code 85007 in central Phoenix, which houses more than its share of Arizona bluebloods and political insiders, was largely unaffected by area foreclosure activity in 2008, even as neighboring ZIP codes saw home values lopped in half.

But this year, the median home price in 85007 collapsed, falling 76.5 percent in the first eight months, according to analysis by The Arizona Republic using data from the Phoenix-based Information Market.”

From largely unaffected to a 76% drop, ouch!

[Rt.66]

I think that your belief that we can extrapolate to a degree is a fair assumption.

“Being that S.Cal is far more desirable the cycle is a few years delayed but the prime areas WILL come down to reality.”

I fully agree.

That article (if one actually reads it) points out SDs position and seeming quandary very well. Which is to say that desirable areas defy gravity the longest but eventually succumb to the bursting of bubbles? Should not be a surprise to any of us.

“ The ZIP code 85007 in central Phoenix, which houses more than its share of Arizona bluebloods and political insiders, was largely unaffected by area foreclosure activity in 2008, even as neighboring ZIP codes saw home values lopped in half.

But this year, the median home price in 85007 collapsed, falling 76.5 percent in the first eight months, according to analysis by The Arizona Republic using data from the Phoenix-based Information Market.”

From largely unaffected to a 76% drop, ouch!

[Rt.66]

I think that your belief that we can extrapolate to a degree is a fair assumption.

“Being that S.Cal is far more desirable the cycle is a few years delayed but the prime areas WILL come down to reality.”

I fully agree.

That article (if one actually reads it) points out SDs position and seeming quandary very well. Which is to say that desirable areas defy gravity the longest but eventually succumb to the bursting of bubbles? Should not be a surprise to any of us.

“ The ZIP code 85007 in central Phoenix, which houses more than its share of Arizona bluebloods and political insiders, was largely unaffected by area foreclosure activity in 2008, even as neighboring ZIP codes saw home values lopped in half.

But this year, the median home price in 85007 collapsed, falling 76.5 percent in the first eight months, according to analysis by The Arizona Republic using data from the Phoenix-based Information Market.”

From largely unaffected to a 76% drop, ouch!

[Rt.66]

I think that your belief that we can extrapolate to a degree is a fair assumption.

“Being that S.Cal is far more desirable the cycle is a few years delayed but the prime areas WILL come down to reality.”

I fully agree.

That article (if one actually reads it) points out SDs position and seeming quandary very well. Which is to say that desirable areas defy gravity the longest but eventually succumb to the bursting of bubbles? Should not be a surprise to any of us.

“ The ZIP code 85007 in central Phoenix, which houses more than its share of Arizona bluebloods and political insiders, was largely unaffected by area foreclosure activity in 2008, even as neighboring ZIP codes saw home values lopped in half.

But this year, the median home price in 85007 collapsed, falling 76.5 percent in the first eight months, according to analysis by The Arizona Republic using data from the Phoenix-based Information Market.”

From largely unaffected to a 76% drop, ouch!

[Rt.66]

I think that your belief that we can extrapolate to a degree is a fair assumption.

“Being that S.Cal is far more desirable the cycle is a few years delayed but the prime areas WILL come down to reality.”

I fully agree.

That article (if one actually reads it) points out SDs position and seeming quandary very well. Which is to say that desirable areas defy gravity the longest but eventually succumb to the bursting of bubbles? Should not be a surprise to any of us.

“ The ZIP code 85007 in central Phoenix, which houses more than its share of Arizona bluebloods and political insiders, was largely unaffected by area foreclosure activity in 2008, even as neighboring ZIP codes saw home values lopped in half.

But this year, the median home price in 85007 collapsed, falling 76.5 percent in the first eight months, according to analysis by The Arizona Republic using data from the Phoenix-based Information Market.”

From largely unaffected to a 76% drop, ouch!

[Rt.66]

sdcellar
Is this a trick? I imagine from your handle you are realtor?

I have posted much on this subject have you?

Have some balls and give us some meat. What do you think?

At least the other guy went on record expecting a 20%-30% price reduction.

Do you think the shadow is NOT out there? Do you think it will be kept off the market indefinitely, and not impact RE values further (will they just build bigger dams)? Do you think it will stop swelling anytime soon?

Do you think seconds are playing a sizable roll REDUCING the foreclosure numbers? Do you think loan mods are having a big impact on SD foreclosures.

[Rt.66]

sdcellar
Is this a trick? I imagine from your handle you are realtor?

I have posted much on this subject have you?

Have some balls and give us some meat. What do you think?

At least the other guy went on record expecting a 20%-30% price reduction.

Do you think the shadow is NOT out there? Do you think it will be kept off the market indefinitely, and not impact RE values further (will they just build bigger dams)? Do you think it will stop swelling anytime soon?

Do you think seconds are playing a sizable roll REDUCING the foreclosure numbers? Do you think loan mods are having a big impact on SD foreclosures.

[Rt.66]

sdcellar
Is this a trick? I imagine from your handle you are realtor?

I have posted much on this subject have you?

Have some balls and give us some meat. What do you think?

At least the other guy went on record expecting a 20%-30% price reduction.

Do you think the shadow is NOT out there? Do you think it will be kept off the market indefinitely, and not impact RE values further (will they just build bigger dams)? Do you think it will stop swelling anytime soon?

Do you think seconds are playing a sizable roll REDUCING the foreclosure numbers? Do you think loan mods are having a big impact on SD foreclosures.

[Rt.66]

sdcellar
Is this a trick? I imagine from your handle you are realtor?

I have posted much on this subject have you?

Have some balls and give us some meat. What do you think?

At least the other guy went on record expecting a 20%-30% price reduction.

Do you think the shadow is NOT out there? Do you think it will be kept off the market indefinitely, and not impact RE values further (will they just build bigger dams)? Do you think it will stop swelling anytime soon?

Do you think seconds are playing a sizable roll REDUCING the foreclosure numbers? Do you think loan mods are having a big impact on SD foreclosures.

[Rt.66]

sdcellar
Is this a trick? I imagine from your handle you are realtor?

I have posted much on this subject have you?

Have some balls and give us some meat. What do you think?

At least the other guy went on record expecting a 20%-30% price reduction.

Do you think the shadow is NOT out there? Do you think it will be kept off the market indefinitely, and not impact RE values further (will they just build bigger dams)? Do you think it will stop swelling anytime soon?

Do you think seconds are playing a sizable roll REDUCING the foreclosure numbers? Do you think loan mods are having a big impact on SD foreclosures.

[Rt.66]

Thanks sfobserver, nice to know there is someone else out there seeing it.

People who listen to the bulls stand to lose a lot of money, even if the number is only 20%-30%. Sure in SD (South Dakota) 20% ain’t much but with prices as they are in SD (San Diego), 20% is a family crushing number, 30% is simply devastation.

This forum is a funny sort, not many dare confront the old guard here, and maybe because of their well honed attack method, which is:

1) First discount any source of foreclosure data or information presented.

2) Come up with a poop soaked theory pulled strait from the anus to counter the data.

3) Try and shift the argument to their opinion or personal theory versus the discounted data (which they falsely discount)

4) Shift the burden of dis-proving their BS theory over to the data presenter.

5) Rely on aid from likeminded posters (anti-data squad).

Pretty smart actually, or crafty.

Contrary to the labels attached to those who counter their theories, I am not an Uber-Bear. I have bought, sold and developed my share of properties and made good money, you don’t do those things being a perma-bear.

This is an RE forum so I hold it to that standard and if there is a market development then I’d love to learn of it. But I like a degree of accuracy/data/confirmation.

If the things the realtor was posting were real then this would be big, really big for RE. If those things were happening it would be the biggest development in 18 months and you’d think it would be all over the news. It would be a huge development.

I don’t disagree for the sport. I want a clear picture of the RE market and if someone posts something that goes contrary to all information I can find then I push to discover if it’s true or BS. So when the realtor makes statements like this:

“Alot of this so called shadow inventory/REO pipeline is in process via short sales (i.e. already on the market) or undergoing loan modifications. ”

I want to know if there is any evidence to his words. So for those of you hanging your bull hats on loan mods:

• On Thursday, Treasury announced that 500,000 homeowners had since had their payments lowered on a trial basis, celebrating this as a milestone. But the report from the oversight panel directly challenged the administration’s characterizations. Most prominently, the panel had grave uncertainty about whether large numbers of the trial loan modifications — which typically run for three months — would successfully be converted to permanent terms.

• As of the beginning of September, only 1.26 percent of trial modifications that had made it through the three-month trial period had become permanent [..]

• As of Sept. 1, the Obama plan had produced 1,711 permanent loan modifications.

NATIONWIDE.

—–

If all 1711 had been in SD it still would not dent the foreclosure numbers. Reality is that CA is not a loan mod market; the degree of under-water indebtedness is just too great here and likely zero were from SD.

[Rt.66]

Thanks sfobserver, nice to know there is someone else out there seeing it.

People who listen to the bulls stand to lose a lot of money, even if the number is only 20%-30%. Sure in SD (South Dakota) 20% ain’t much but with prices as they are in SD (San Diego), 20% is a family crushing number, 30% is simply devastation.

This forum is a funny sort, not many dare confront the old guard here, and maybe because of their well honed attack method, which is:

1) First discount any source of foreclosure data or information presented.

2) Come up with a poop soaked theory pulled strait from the anus to counter the data.

3) Try and shift the argument to their opinion or personal theory versus the discounted data (which they falsely discount)

4) Shift the burden of dis-proving their BS theory over to the data presenter.

5) Rely on aid from likeminded posters (anti-data squad).

Pretty smart actually, or crafty.

Contrary to the labels attached to those who counter their theories, I am not an Uber-Bear. I have bought, sold and developed my share of properties and made good money, you don’t do those things being a perma-bear.

This is an RE forum so I hold it to that standard and if there is a market development then I’d love to learn of it. But I like a degree of accuracy/data/confirmation.

If the things the realtor was posting were real then this would be big, really big for RE. If those things were happening it would be the biggest development in 18 months and you’d think it would be all over the news. It would be a huge development.

I don’t disagree for the sport. I want a clear picture of the RE market and if someone posts something that goes contrary to all information I can find then I push to discover if it’s true or BS. So when the realtor makes statements like this:

“Alot of this so called shadow inventory/REO pipeline is in process via short sales (i.e. already on the market) or undergoing loan modifications. ”

I want to know if there is any evidence to his words. So for those of you hanging your bull hats on loan mods:

• On Thursday, Treasury announced that 500,000 homeowners had since had their payments lowered on a trial basis, celebrating this as a milestone. But the report from the oversight panel directly challenged the administration’s characterizations. Most prominently, the panel had grave uncertainty about whether large numbers of the trial loan modifications — which typically run for three months — would successfully be converted to permanent terms.

• As of the beginning of September, only 1.26 percent of trial modifications that had made it through the three-month trial period had become permanent [..]

• As of Sept. 1, the Obama plan had produced 1,711 permanent loan modifications.

NATIONWIDE.

—–

If all 1711 had been in SD it still would not dent the foreclosure numbers. Reality is that CA is not a loan mod market; the degree of under-water indebtedness is just too great here and likely zero were from SD.

[Rt.66]

Thanks sfobserver, nice to know there is someone else out there seeing it.

People who listen to the bulls stand to lose a lot of money, even if the number is only 20%-30%. Sure in SD (South Dakota) 20% ain’t much but with prices as they are in SD (San Diego), 20% is a family crushing number, 30% is simply devastation.

This forum is a funny sort, not many dare confront the old guard here, and maybe because of their well honed attack method, which is:

1) First discount any source of foreclosure data or information presented.

2) Come up with a poop soaked theory pulled strait from the anus to counter the data.

3) Try and shift the argument to their opinion or personal theory versus the discounted data (which they falsely discount)

4) Shift the burden of dis-proving their BS theory over to the data presenter.

5) Rely on aid from likeminded posters (anti-data squad).

Pretty smart actually, or crafty.

Contrary to the labels attached to those who counter their theories, I am not an Uber-Bear. I have bought, sold and developed my share of properties and made good money, you don’t do those things being a perma-bear.

This is an RE forum so I hold it to that standard and if there is a market development then I’d love to learn of it. But I like a degree of accuracy/data/confirmation.

If the things the realtor was posting were real then this would be big, really big for RE. If those things were happening it would be the biggest development in 18 months and you’d think it would be all over the news. It would be a huge development.

I don’t disagree for the sport. I want a clear picture of the RE market and if someone posts something that goes contrary to all information I can find then I push to discover if it’s true or BS. So when the realtor makes statements like this:

“Alot of this so called shadow inventory/REO pipeline is in process via short sales (i.e. already on the market) or undergoing loan modifications. ”

I want to know if there is any evidence to his words. So for those of you hanging your bull hats on loan mods:

• On Thursday, Treasury announced that 500,000 homeowners had since had their payments lowered on a trial basis, celebrating this as a milestone. But the report from the oversight panel directly challenged the administration’s characterizations. Most prominently, the panel had grave uncertainty about whether large numbers of the trial loan modifications — which typically run for three months — would successfully be converted to permanent terms.

• As of the beginning of September, only 1.26 percent of trial modifications that had made it through the three-month trial period had become permanent [..]

• As of Sept. 1, the Obama plan had produced 1,711 permanent loan modifications.

NATIONWIDE.

—–

If all 1711 had been in SD it still would not dent the foreclosure numbers. Reality is that CA is not a loan mod market; the degree of under-water indebtedness is just too great here and likely zero were from SD.

[Rt.66]

Thanks sfobserver, nice to know there is someone else out there seeing it.

People who listen to the bulls stand to lose a lot of money, even if the number is only 20%-30%. Sure in SD (South Dakota) 20% ain’t much but with prices as they are in SD (San Diego), 20% is a family crushing number, 30% is simply devastation.

This forum is a funny sort, not many dare confront the old guard here, and maybe because of their well honed attack method, which is:

1) First discount any source of foreclosure data or information presented.

2) Come up with a poop soaked theory pulled strait from the anus to counter the data.

3) Try and shift the argument to their opinion or personal theory versus the discounted data (which they falsely discount)

4) Shift the burden of dis-proving their BS theory over to the data presenter.

5) Rely on aid from likeminded posters (anti-data squad).

Pretty smart actually, or crafty.

Contrary to the labels attached to those who counter their theories, I am not an Uber-Bear. I have bought, sold and developed my share of properties and made good money, you don’t do those things being a perma-bear.

This is an RE forum so I hold it to that standard and if there is a market development then I’d love to learn of it. But I like a degree of accuracy/data/confirmation.

If the things the realtor was posting were real then this would be big, really big for RE. If those things were happening it would be the biggest development in 18 months and you’d think it would be all over the news. It would be a huge development.

I don’t disagree for the sport. I want a clear picture of the RE market and if someone posts something that goes contrary to all information I can find then I push to discover if it’s true or BS. So when the realtor makes statements like this:

“Alot of this so called shadow inventory/REO pipeline is in process via short sales (i.e. already on the market) or undergoing loan modifications. ”

I want to know if there is any evidence to his words. So for those of you hanging your bull hats on loan mods:

• On Thursday, Treasury announced that 500,000 homeowners had since had their payments lowered on a trial basis, celebrating this as a milestone. But the report from the oversight panel directly challenged the administration’s characterizations. Most prominently, the panel had grave uncertainty about whether large numbers of the trial loan modifications — which typically run for three months — would successfully be converted to permanent terms.

• As of the beginning of September, only 1.26 percent of trial modifications that had made it through the three-month trial period had become permanent [..]

• As of Sept. 1, the Obama plan had produced 1,711 permanent loan modifications.

NATIONWIDE.

—–

If all 1711 had been in SD it still would not dent the foreclosure numbers. Reality is that CA is not a loan mod market; the degree of under-water indebtedness is just too great here and likely zero were from SD.

[Rt.66]

Thanks sfobserver, nice to know there is someone else out there seeing it.

People who listen to the bulls stand to lose a lot of money, even if the number is only 20%-30%. Sure in SD (South Dakota) 20% ain’t much but with prices as they are in SD (San Diego), 20% is a family crushing number, 30% is simply devastation.

This forum is a funny sort, not many dare confront the old guard here, and maybe because of their well honed attack method, which is:

1) First discount any source of foreclosure data or information presented.

2) Come up with a poop soaked theory pulled strait from the anus to counter the data.

3) Try and shift the argument to their opinion or personal theory versus the discounted data (which they falsely discount)

4) Shift the burden of dis-proving their BS theory over to the data presenter.

5) Rely on aid from likeminded posters (anti-data squad).

Pretty smart actually, or crafty.

Contrary to the labels attached to those who counter their theories, I am not an Uber-Bear. I have bought, sold and developed my share of properties and made good money, you don’t do those things being a perma-bear.

This is an RE forum so I hold it to that standard and if there is a market development then I’d love to learn of it. But I like a degree of accuracy/data/confirmation.

If the things the realtor was posting were real then this would be big, really big for RE. If those things were happening it would be the biggest development in 18 months and you’d think it would be all over the news. It would be a huge development.

I don’t disagree for the sport. I want a clear picture of the RE market and if someone posts something that goes contrary to all information I can find then I push to discover if it’s true or BS. So when the realtor makes statements like this:

“Alot of this so called shadow inventory/REO pipeline is in process via short sales (i.e. already on the market) or undergoing loan modifications. ”

I want to know if there is any evidence to his words. So for those of you hanging your bull hats on loan mods:

• On Thursday, Treasury announced that 500,000 homeowners had since had their payments lowered on a trial basis, celebrating this as a milestone. But the report from the oversight panel directly challenged the administration’s characterizations. Most prominently, the panel had grave uncertainty about whether large numbers of the trial loan modifications — which typically run for three months — would successfully be converted to permanent terms.

• As of the beginning of September, only 1.26 percent of trial modifications that had made it through the three-month trial period had become permanent [..]

• As of Sept. 1, the Obama plan had produced 1,711 permanent loan modifications.

NATIONWIDE.

—–

If all 1711 had been in SD it still would not dent the foreclosure numbers. Reality is that CA is not a loan mod market; the degree of under-water indebtedness is just too great here and likely zero were from SD.

[Author]

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