[SD Realtor]

Nothing to see hear, move along. Funny how there used to be so many posts full of glee about how the lenders will be getting what they deserve. In reality the taxpayers will bear the brunt of shortfalls in one way or another.

SD Realtor

[SD Realtor]

Nothing to see hear, move along. Funny how there used to be so many posts full of glee about how the lenders will be getting what they deserve. In reality the taxpayers will bear the brunt of shortfalls in one way or another.

SD Realtor

[SD Realtor]

Nothing to see hear, move along. Funny how there used to be so many posts full of glee about how the lenders will be getting what they deserve. In reality the taxpayers will bear the brunt of shortfalls in one way or another.

SD Realtor

[SD Realtor]

sdrealtor is much more expert on this submarker then I am. I do agree with his assessment and I have a client who is looking to buy in Encinitas. Originally they were hoping to stay in the price range mentioned by the original poster but have accelerated their timeframe and thus are adjusting the price range they are thinking about. I have taken them to see about 20 homes in Encinitas and Cardiff in the past 4 weeks and I don’t see the pricing you are hoping for in the near future either. I would agree 100% with the timeframe mentioned by sdr.

SD Realtor

[SD Realtor]

sdrealtor is much more expert on this submarker then I am. I do agree with his assessment and I have a client who is looking to buy in Encinitas. Originally they were hoping to stay in the price range mentioned by the original poster but have accelerated their timeframe and thus are adjusting the price range they are thinking about. I have taken them to see about 20 homes in Encinitas and Cardiff in the past 4 weeks and I don’t see the pricing you are hoping for in the near future either. I would agree 100% with the timeframe mentioned by sdr.

SD Realtor

[SD Realtor]

sdrealtor is much more expert on this submarker then I am. I do agree with his assessment and I have a client who is looking to buy in Encinitas. Originally they were hoping to stay in the price range mentioned by the original poster but have accelerated their timeframe and thus are adjusting the price range they are thinking about. I have taken them to see about 20 homes in Encinitas and Cardiff in the past 4 weeks and I don’t see the pricing you are hoping for in the near future either. I would agree 100% with the timeframe mentioned by sdr.

SD Realtor

[SD Realtor]

sdrealtor is much more expert on this submarker then I am. I do agree with his assessment and I have a client who is looking to buy in Encinitas. Originally they were hoping to stay in the price range mentioned by the original poster but have accelerated their timeframe and thus are adjusting the price range they are thinking about. I have taken them to see about 20 homes in Encinitas and Cardiff in the past 4 weeks and I don’t see the pricing you are hoping for in the near future either. I would agree 100% with the timeframe mentioned by sdr.

SD Realtor

[SD Realtor]

sdrealtor is much more expert on this submarker then I am. I do agree with his assessment and I have a client who is looking to buy in Encinitas. Originally they were hoping to stay in the price range mentioned by the original poster but have accelerated their timeframe and thus are adjusting the price range they are thinking about. I have taken them to see about 20 homes in Encinitas and Cardiff in the past 4 weeks and I don’t see the pricing you are hoping for in the near future either. I would agree 100% with the timeframe mentioned by sdr.

SD Realtor

[SD Realtor]

Hi Rus –

It is hard to say right now. In July when we can look back and see how the spring really did stack up I think we will have a better picture. The April volume figures are going to be very interesting to see. Again, I don’t see any of this activity any more then a nice little spring push and then things will come back to normal.

I absolutely do feel like more modest areas that have run down quick will bottom out quicker. One thing to note though is that these areas also have a larger inventory of REO properties to chew through. I think we are not at the bottom in Mira Mesa but I do think that there seems to be a spot where alot of homes priced in that low to mid 300k range go pretty quick if they are in decent shape. There are some pretty scrappy places thats for sure. The good thing is that hopefully the nicer places that don’t sell will start to now come down there.

Lets see the spring numbers on sales volumes. Once we get into a long hot summer hopefully we will see another leg down. It will depend on rates.

SD Realtor

[SD Realtor]

Hi Rus –

It is hard to say right now. In July when we can look back and see how the spring really did stack up I think we will have a better picture. The April volume figures are going to be very interesting to see. Again, I don’t see any of this activity any more then a nice little spring push and then things will come back to normal.

I absolutely do feel like more modest areas that have run down quick will bottom out quicker. One thing to note though is that these areas also have a larger inventory of REO properties to chew through. I think we are not at the bottom in Mira Mesa but I do think that there seems to be a spot where alot of homes priced in that low to mid 300k range go pretty quick if they are in decent shape. There are some pretty scrappy places thats for sure. The good thing is that hopefully the nicer places that don’t sell will start to now come down there.

Lets see the spring numbers on sales volumes. Once we get into a long hot summer hopefully we will see another leg down. It will depend on rates.

SD Realtor

[SD Realtor]

Hi Rus –

It is hard to say right now. In July when we can look back and see how the spring really did stack up I think we will have a better picture. The April volume figures are going to be very interesting to see. Again, I don’t see any of this activity any more then a nice little spring push and then things will come back to normal.

I absolutely do feel like more modest areas that have run down quick will bottom out quicker. One thing to note though is that these areas also have a larger inventory of REO properties to chew through. I think we are not at the bottom in Mira Mesa but I do think that there seems to be a spot where alot of homes priced in that low to mid 300k range go pretty quick if they are in decent shape. There are some pretty scrappy places thats for sure. The good thing is that hopefully the nicer places that don’t sell will start to now come down there.

Lets see the spring numbers on sales volumes. Once we get into a long hot summer hopefully we will see another leg down. It will depend on rates.

SD Realtor

[SD Realtor]

Hi Rus –

It is hard to say right now. In July when we can look back and see how the spring really did stack up I think we will have a better picture. The April volume figures are going to be very interesting to see. Again, I don’t see any of this activity any more then a nice little spring push and then things will come back to normal.

I absolutely do feel like more modest areas that have run down quick will bottom out quicker. One thing to note though is that these areas also have a larger inventory of REO properties to chew through. I think we are not at the bottom in Mira Mesa but I do think that there seems to be a spot where alot of homes priced in that low to mid 300k range go pretty quick if they are in decent shape. There are some pretty scrappy places thats for sure. The good thing is that hopefully the nicer places that don’t sell will start to now come down there.

Lets see the spring numbers on sales volumes. Once we get into a long hot summer hopefully we will see another leg down. It will depend on rates.

SD Realtor

[SD Realtor]

Hi Rus –

It is hard to say right now. In July when we can look back and see how the spring really did stack up I think we will have a better picture. The April volume figures are going to be very interesting to see. Again, I don’t see any of this activity any more then a nice little spring push and then things will come back to normal.

I absolutely do feel like more modest areas that have run down quick will bottom out quicker. One thing to note though is that these areas also have a larger inventory of REO properties to chew through. I think we are not at the bottom in Mira Mesa but I do think that there seems to be a spot where alot of homes priced in that low to mid 300k range go pretty quick if they are in decent shape. There are some pretty scrappy places thats for sure. The good thing is that hopefully the nicer places that don’t sell will start to now come down there.

Lets see the spring numbers on sales volumes. Once we get into a long hot summer hopefully we will see another leg down. It will depend on rates.

SD Realtor

[SD Realtor]

Someone can correct me but I am pretty sure that April 9th is the date that there will be a hearing to review Barney Franks proposal to permit the FHA to provide up to 300B in loan guarantees for refinancing. Basically in exchange for having lenders accept substantial write-down of principal, lenders would RECEIVE payment fom the proceeds of a new FHA loan if the restructured loan resulted in terms that the borrower can reasonably be expected to pay.

Let’s not forget that the government would be on the hook for these loans.

*******

I hate posting long quotes but this one from Doug Noland was good regarding last weeks shenanigans…

“As far as I’m concerned, much of the U.S. mortgage market was this week essentially Nationalized. I’ll take the dramatic narrowing in agency debt and MBS spreads as support for this view. Additional support arrived from comments from Mr. Lockhart, Mr. Paulson, and actions by the Federal Reserve. Having lived contently for years with the markets’ interpretation of the (grey-area) “implied” government backing of the GSEs, our policymakers are surely today satisfied with the inferred market acceptance of mortgage industry Nationalization. To be sure, the Fed’s Splashy “Sunday Night Special” bailout of Bear Stearns is rather trivial in both its implications and consequences when compared to Thursday’s Quiet Coup.
Let’s look at the Fed’s denial one more time: “The Federal Reserve is not involved in discussions with foreign central banks for coordinated buying of MBS (mortgage-backed securities).”

Reading carefully, that statement is not a denial of having discussions (I presume they are). It is only a denial of “coordinated buying of MBS”. What about uncoordinated buying? Still, such action would have to come from Congress, not the Fed.

And (for now anyway), I doubt that Fannie and Freddie are going to go on a garbage mortgage gobbling spree. Just because there are new higher limits at Fannie and Freddie, that does not mean that Fannie and Freddie will be taking every loan in sight.”

SD Realtor

[SD Realtor]

Someone can correct me but I am pretty sure that April 9th is the date that there will be a hearing to review Barney Franks proposal to permit the FHA to provide up to 300B in loan guarantees for refinancing. Basically in exchange for having lenders accept substantial write-down of principal, lenders would RECEIVE payment fom the proceeds of a new FHA loan if the restructured loan resulted in terms that the borrower can reasonably be expected to pay.

Let’s not forget that the government would be on the hook for these loans.

*******

I hate posting long quotes but this one from Doug Noland was good regarding last weeks shenanigans…

“As far as I’m concerned, much of the U.S. mortgage market was this week essentially Nationalized. I’ll take the dramatic narrowing in agency debt and MBS spreads as support for this view. Additional support arrived from comments from Mr. Lockhart, Mr. Paulson, and actions by the Federal Reserve. Having lived contently for years with the markets’ interpretation of the (grey-area) “implied” government backing of the GSEs, our policymakers are surely today satisfied with the inferred market acceptance of mortgage industry Nationalization. To be sure, the Fed’s Splashy “Sunday Night Special” bailout of Bear Stearns is rather trivial in both its implications and consequences when compared to Thursday’s Quiet Coup.
Let’s look at the Fed’s denial one more time: “The Federal Reserve is not involved in discussions with foreign central banks for coordinated buying of MBS (mortgage-backed securities).”

Reading carefully, that statement is not a denial of having discussions (I presume they are). It is only a denial of “coordinated buying of MBS”. What about uncoordinated buying? Still, such action would have to come from Congress, not the Fed.

And (for now anyway), I doubt that Fannie and Freddie are going to go on a garbage mortgage gobbling spree. Just because there are new higher limits at Fannie and Freddie, that does not mean that Fannie and Freddie will be taking every loan in sight.”

SD Realtor

[Author]

Posts