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SD Realtor
Participant“It would be interesting if they lowered their overnight rate, but rates on mortgages stayed the same or even went up. It could happen if investors started to see the risk in mbs and demanded a higher premium for their risk.”
So Andy, are you saying that you believe that investors of mbs are driving the mortgage rates?
SD Realtor
ParticipantRus all I can say is that we agree to disagree…
Respectfully on this one you are way off. If you think my harping on the 10 year is any sort of slant then you are absolutely incorrect. My slants are generally evident when I discuss commission rebates. I am being 100% straight with you here.
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I have a fundamental disagreement with those who have always blamed the fed for the housing problem and I do believe I have posted that before. Most likely before you came on. I have always been amazed at the number of postings the board seems to ALWAYS get about how mortgage rates are running up and what is the fed going to do? I do agree that the easy money policy invoked by the fed didn’t help things but to me that policy did had no bearing on the interest rates offered by lenders. Once again, I have posted that opinion in opposition of others awhile back.
It is just my opinion but I have yet to ever see a rate sheet that is delivered from a lender that moved because of the feds actions. They are (to the best of my knowledge) always been based on the bond yields.
Now, I am not smart enough to debate the effects of easy money injected into the economy and the effects of inflation, and asset inflation. This I believe to be true but cannot argue it either way. I simply INSIST that longer term bond yields drive the mortgage rates. Nothing more, nothing less. If more people knew that, if more people understood that, then they would all be better off.
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So like I said, I do very much disagree with you on this point. I have always held the topic of bond yield to be ONE OF THE MOST pertinent aspects to real estate and it always should be. The fact that most people don’t watch it like a hawk continues to amaze me so yes I harp on it now, have harped on it in the past, and will continue to harp on it every time someone else blames the fed for high mortgage rates or when it moves significantly.
I think information like that would be quite helpful to newcomers.
SD Realtor
ps – sorry farbet for drifting off topic but I wanted to respond and respond publicly. Rus if you like please go ahead and email me at [email protected] or post yours and I can email you.
ParticipantRus all I can say is that we agree to disagree…
Respectfully on this one you are way off. If you think my harping on the 10 year is any sort of slant then you are absolutely incorrect. My slants are generally evident when I discuss commission rebates. I am being 100% straight with you here.
*************
I have a fundamental disagreement with those who have always blamed the fed for the housing problem and I do believe I have posted that before. Most likely before you came on. I have always been amazed at the number of postings the board seems to ALWAYS get about how mortgage rates are running up and what is the fed going to do? I do agree that the easy money policy invoked by the fed didn’t help things but to me that policy did had no bearing on the interest rates offered by lenders. Once again, I have posted that opinion in opposition of others awhile back.
It is just my opinion but I have yet to ever see a rate sheet that is delivered from a lender that moved because of the feds actions. They are (to the best of my knowledge) always been based on the bond yields.
Now, I am not smart enough to debate the effects of easy money injected into the economy and the effects of inflation, and asset inflation. This I believe to be true but cannot argue it either way. I simply INSIST that longer term bond yields drive the mortgage rates. Nothing more, nothing less. If more people knew that, if more people understood that, then they would all be better off.
*********
So like I said, I do very much disagree with you on this point. I have always held the topic of bond yield to be ONE OF THE MOST pertinent aspects to real estate and it always should be. The fact that most people don’t watch it like a hawk continues to amaze me so yes I harp on it now, have harped on it in the past, and will continue to harp on it every time someone else blames the fed for high mortgage rates or when it moves significantly.
I think information like that would be quite helpful to newcomers.
SD Realtor
ps – sorry farbet for drifting off topic but I wanted to respond and respond publicly. Rus if you like please go ahead and email me at [email protected] or post yours and I can email you.
Participantlniles I don’t think the influx of buyers you are talking about will serve to stall the downturn… if anything these buyers may prove to help in the short run, once they are done we will REALLY have no buyers and the market would serve to plummet. Additionally many of these buyers are astute and recognize the downturn as well. Some as you have pointed out have made the decision to buy, others will choose to wait.
Just my guess…
SD Realtor
Participantlniles I don’t think the influx of buyers you are talking about will serve to stall the downturn… if anything these buyers may prove to help in the short run, once they are done we will REALLY have no buyers and the market would serve to plummet. Additionally many of these buyers are astute and recognize the downturn as well. Some as you have pointed out have made the decision to buy, others will choose to wait.
Just my guess…
SD Realtor
ParticipantAsh well made point. Thank you for correcting me.
If you made that implication then I am sure others did as well. I think that what you pointed out parallels what Rus was saying that I incorrectly assume things when I post… that I am not conveying what I am thinking (conciously or otherwise) clearly. Either of you can/should correct me…
I need to be more cognicent of that.
SD Realtor
ParticipantAsh well made point. Thank you for correcting me.
If you made that implication then I am sure others did as well. I think that what you pointed out parallels what Rus was saying that I incorrectly assume things when I post… that I am not conveying what I am thinking (conciously or otherwise) clearly. Either of you can/should correct me…
I need to be more cognicent of that.
SD Realtor
ParticipantRus I absolutely know your posts are never intended to be hurtful or personal in any manner. Nor are they accusatory either. They are always inquisitive and I believe your post in this thread was no different.
Now as for your questions, which are always challenging, lets see what I can do to answer them…
#1
I am very much okay with everyone debating my slants, whether they are buyers, sellers, real estate professional or not. That is okay with me.
#2
Hmmm.. that is a tough one. Yes I actually did believe most everyone would see through them. That obviously is my mistake.
#3
While my responses and/or posts may be slanted, I am not intentionally trying to manipulate people. I sincerely do not feel my input is not geniune Rus. Point out something where what I wrote is not geniune or misleading.
#4
Again point out what I said to be misleading or not genuine. I think that this goes back to point #1 or 2 that you made. I have no problem debating about what I post. If there are inherent misunderstandings about it, then for sure bring it out, post it, I will be more then happy to discuss it.
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SD Realtor
ParticipantRus I absolutely know your posts are never intended to be hurtful or personal in any manner. Nor are they accusatory either. They are always inquisitive and I believe your post in this thread was no different.
Now as for your questions, which are always challenging, lets see what I can do to answer them…
#1
I am very much okay with everyone debating my slants, whether they are buyers, sellers, real estate professional or not. That is okay with me.
#2
Hmmm.. that is a tough one. Yes I actually did believe most everyone would see through them. That obviously is my mistake.
#3
While my responses and/or posts may be slanted, I am not intentionally trying to manipulate people. I sincerely do not feel my input is not geniune Rus. Point out something where what I wrote is not geniune or misleading.
#4
Again point out what I said to be misleading or not genuine. I think that this goes back to point #1 or 2 that you made. I have no problem debating about what I post. If there are inherent misunderstandings about it, then for sure bring it out, post it, I will be more then happy to discuss it.
****
SD Realtor
ParticipantAsh –
The purchase agreements that are produced by the builders are excrutiating. They blow away the 8 page RPA that is used in resales. There are not many buyers at all who bother to actually read the agreement from start to finish. Those that do rarely know what they are giving up with regards to contingencies when compared with buying a resale home. I have been through several sittings, when I accompany buyers to the sales offices of these developers. The questions that I pose to the sales agents are well above and beyond the questions the buyers would have asked on their own. The buyers have always been thankful for me to accompany them, and in just about every case, have BACKED OUT of the deal rather then moving forward.
Any realtor who does work does it for the money. Any good realtor knows that the only way to procure long term clients is to do alot of legwork for them which in MOST CASES will not produce a sale at all. It is called the cost of doing business. sdr has posted cases where he has buyers who have been working with him for years to find the right home. The top producing agents establish relationships with people that involves alot of time and effort with little to no return.
Your statement rings true for a good deal of agents. However it does not ring true for all of them. Without shilling here, and in all seriousness, if you want to post your email address, I will send you contacts for my clients and you can contact them and ask them if they were happy with my work.
SD Realtor
ParticipantAsh –
The purchase agreements that are produced by the builders are excrutiating. They blow away the 8 page RPA that is used in resales. There are not many buyers at all who bother to actually read the agreement from start to finish. Those that do rarely know what they are giving up with regards to contingencies when compared with buying a resale home. I have been through several sittings, when I accompany buyers to the sales offices of these developers. The questions that I pose to the sales agents are well above and beyond the questions the buyers would have asked on their own. The buyers have always been thankful for me to accompany them, and in just about every case, have BACKED OUT of the deal rather then moving forward.
Any realtor who does work does it for the money. Any good realtor knows that the only way to procure long term clients is to do alot of legwork for them which in MOST CASES will not produce a sale at all. It is called the cost of doing business. sdr has posted cases where he has buyers who have been working with him for years to find the right home. The top producing agents establish relationships with people that involves alot of time and effort with little to no return.
Your statement rings true for a good deal of agents. However it does not ring true for all of them. Without shilling here, and in all seriousness, if you want to post your email address, I will send you contacts for my clients and you can contact them and ask them if they were happy with my work.
SD Realtor
ParticipantHi Rus –
I actually started this thread from an email I got from a lurker who was asking me about
“how to get out of a transaction with a builder” question!
So after an extended conversation with them, I told them that I periodically post recommendations for people buying from builders and that I would do it again today.
I would be much more happier to post my email address but in the past I have been subject to allegations of shilling and inappropriate postings so I am ultra careful not to do that anymore. I don’t post my email or website. I would like to but I do not.
I have already said and will say it again that yes I try to be helpful in this blog and of course I try to get business from the blog as well. I don’t hide that fact at all. Anyone who reads my posts recognizes the slants, parses through them, and keeps the useful part of them. Maybe I should have a signature that says
SD Realtor (always trying to help, but also working the board to get business)
Anyways anyone who has ever called or emailed me always got any data or contact information that they asked for regardless of whether they used me as their agent or not.
The attorney that I would recommend is a great one. His pricing structure is 200 an hour with a 1200 minimum. He was a former client and if anyone wants his contact information, which some of you reading already have, simply put your information in a post and I will email it.
As for keeping it real, all my posts are real Rus. I believe they are helpful, yes I am trying to get business, yes I will help regardless of if you do business with me or not. So… let me know how much more real I can get.
SD Realtor (always trying to help, but also working the board to get business)
ParticipantHi Rus –
I actually started this thread from an email I got from a lurker who was asking me about
“how to get out of a transaction with a builder” question!
So after an extended conversation with them, I told them that I periodically post recommendations for people buying from builders and that I would do it again today.
I would be much more happier to post my email address but in the past I have been subject to allegations of shilling and inappropriate postings so I am ultra careful not to do that anymore. I don’t post my email or website. I would like to but I do not.
I have already said and will say it again that yes I try to be helpful in this blog and of course I try to get business from the blog as well. I don’t hide that fact at all. Anyone who reads my posts recognizes the slants, parses through them, and keeps the useful part of them. Maybe I should have a signature that says
SD Realtor (always trying to help, but also working the board to get business)
Anyways anyone who has ever called or emailed me always got any data or contact information that they asked for regardless of whether they used me as their agent or not.
The attorney that I would recommend is a great one. His pricing structure is 200 an hour with a 1200 minimum. He was a former client and if anyone wants his contact information, which some of you reading already have, simply put your information in a post and I will email it.
As for keeping it real, all my posts are real Rus. I believe they are helpful, yes I am trying to get business, yes I will help regardless of if you do business with me or not. So… let me know how much more real I can get.
SD Realtor (always trying to help, but also working the board to get business)
ParticipantI would suspect most all hedge funds in this category have shown big losses and will continue to do so. The liquidation of a fund of this size is somewhat surprising but in reality I think it is a prudent move by Bear Stearns. It does show that Bear Stearns thinks the problem is not going away for now. Thus they ran the numbers and believe liquidating the fund is better then keeping it.
The sad part is that when you look at who the investors of these funds are, you will cringe.
The funny (but sad) part about these funds is that these investors trusted the underwriting process… they bought these funds assuming that the underwriting process from which these mortgages were originated would weed out potential defaults… Doh!!!
SD Realtor
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