[uncle_git]

DING DING DING.

I’m waiting too… actually I’m hopefully moving out of the area – but the area I’m moving too is overpriced as well – so I’m gonna bide my time there too.

I’m going let this hole thing unwind in a spectacular fashion – for a lumbering monster it’s turning around surprisingly fast – and the ARM adjustments have not even started to roll in yet.

[uncle_git]

The Fed is the Banks – why would the banks want to deflate their assets to bail out the consumer ?

[uncle_git]

Median price doesn’t actually tell you about what home prices are doing – it’s more a reflection of what people are paying for homes – which *sounds* like the same thing – but it’s not.

Rising rates and the pending extinction of the first time / low end buyer could be the reason for a high % of sales not closing in Jan/Feb.

The pool of first time buyers is rapidly shrinking due to credit tightening and the rising ARM rates – these trade up buyers are reliant on someone buying their overpriced condo so they can leverage up. Once the first time / low end buyers dissappear the whole house of cards starts to fall….

[uncle_git]

Bob Casagrand just posted his latest take on Feb’s preliminary numbers.

http://realtytimes.com/rtmcrcond/California~San_Diego~bobcasagrand

If I was in any shape or form staying in San Diego – this man would be my realtor – refreshing honesty given how many realtors are still giving the old “Buy now or be priced our forever” line.

I sincerely hope that Bob prospers in the bust as I’m sure he has in the boom – he’s one of the decent, honest realtors who are providing a service and telling it like it is – one that’s actually a credit to his profession. Hopefully the bubble aware people who’ve been reading his updates use him to buy when the time is right.

#Disclaimer : I’m in no way connected with Mr Casagrand beyond the fact I’ve been reading his realty times postings – I’ve never done business with him and I’ve never met the man.

[uncle_git]

Realtors about to become our best friends.

They need turnover to get a paycheck and they’ll instrumental in talking “sticky” sellers down in price.

In doing so they’ll be telling the buyers to jump in before it heads higher and the sellers to get out before it heads lower.

Which is it realtors ?

[uncle_git]

17,450 ish today – it’s really starting to crank up fast this week.

This is going to be very very ugly indeed – and it’s going to hurt a lot of young couples who fell for the BS badly – I’m just glad I was smart enough to stay out.

[uncle_git]

This one confuses me – everyone says lenders will work with a buyer who’s in trouble to “refinance”…

Refinance an I/O ARM at historic living memory lows in rates into what exactly ?

Anyway you shake he numbers they are going to be paying more…. unless you refi them to Neg Am. loans…

Plus how do you refinance if you’re underwater in your property – surely the property has to appraise for you to refinance….

[Author]

Posts