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AuthorPosts
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woodrow
ParticipantI only posted negative comments because you’re spamming the “Other bloggers” section of this website. When you do this, you push quality (not to mention FREE) housing news and analysis off of the page. Please stop this practice – it’s annoying and I sincerely doubt I’m the only one who is turned off by your self serving spam.
And LOL at “My mission is to educate.” Rich, Jim Klinge, OCRenter, Sven, Ben Jones, and others are educating and have wildly successful websites for FREE. I have no problem with you charging for premium content, but at least be honest about it. If you were in it “to educate”, you wouldn’t be trying to make a buck.
ParticipantMore spam from Powayseller – 4 duplicate links to an article in the “pay” section of her website.
I wonder how long Rich will allow this to go on? I don’t like having all of the other bubble blog links being pushed off of the page so that Powayseller can get 4 links to her pay content up there. Why do we care about links to pay sites anyway?
ParticipantLots of harsh comments here, how about cutting her a bit of slack?
She never cut anyone else any slack – why should we wear kiddie gloves with her?
We poke fun at people who think they are geniuses for buying a home in SD and riding the equity wave during the boom – why treat those who sold at the peak and then consider themselves brilliant any different?
ParticipantLooks like Powayseller lives – she’s been spotted spamming the “Other Bubble Bloggers” section with 5 links to her review of “In Debt We Trust”. I guess the spam works, as I visited her site. Looks like a ghost town, with hardly any free content and no discussion in her forums.
Rich, Jim Klinge, and dozens of other bloggers do a fantastic job covering the San Diego Market with more information than you could ever use for free, but Powayseller thinks her insights are worth $25 a quarter? Talk about misreading markets.
ParticipantIs this the type of brilliant analysis and prognostication we can look forward to on Powayseller’s new website?
I can’t wait to pay for this kind of analysis!
ParticipantLookOut, maybe so but then again maybe our mortgage will be the same as you're paying +2% interest… I don't know what's going to happen, but I think there will be a happy medium or intersect between rates and prices.
Most analysts are betting interest rates will fall before they begin to rise. IMO, it's far more likely that we'll see cheaper rates a year from now as opposed to the 2% increase you are predicting.
If rates are indeed cut and are in the mid 5's next winter, with another 10-15% decline in prices, that may be the time to begin submitting lowball offers. If you buy now at a slight discount, I strongly believe you'll regret your purchase a year from now.
ParticipantI don't what kind of loan they are getting, or what their payment is – I'm just doing the appraisal. But for the property in Valley Center, the sale price is $660,000, with 20% down, so the loan amount is $528,000, and the estimated market rent is $2900 per month. At a 6% loan for 30 years, their payment alone would be $3300+. Real estate taxes add maybe $9,000 per year.
How is this an "intelligent investment"? Including taxes, the investor owes over $4k per month, and hopes to rent for $2900. That's ~ a $13k loss per year, not taking into account that a modest savings bond will yield + $6k per year on the $120k down payment, or $500 a month.
Essentially, this investor is cash flow negative $1600 a month, before the mortgage break.
ParticipantThanks PS – I’m a daily lurker here.
How’s the website coming? Care to provide a link? Like many others, I’m anxious to see what you have to offer.
Best of luck.
ParticipantI was at Las Americas at midnight and it was a madhouse. Took me an hour in the cashier’s line at Banana Republic to pay for my clothes.
Sales are way, way up – this is the biggest black Friday in years.
ParticipantAs an example, and I don't have the actual numbers, let's imagine that 15% of ARMs in San Diego are resetting this year, and 13% defaulted. That is almost a 100% default rate.
That's quite an imagination – I haven't seen any data suggesting default rates anywhere near 100%.
While I too believe reseting ARMs will be a problem in the next couple of years, suggesting 90% defaut rates without any actual data to support your position makes you appear to be an alarmist.
Love your posts PS, but when you make these type of predicitons based off of a "let's imagine" data set, you're no different than the cheerleaders on the other side arguing that a soft landing is in order.
Just my $.02
ParticipantWoodrow, I think you are taking these allegations as truth because you WANT them to be true. Maybe they are, maybe are not. There is NO TRUTH yet in this story. Who has heard these tapes? Tested the bills for DNA or fingerprints?
You don't know anything about me – yet you're claiming my motives in posting information provided by mainstream news is b/c I "want them to be true"?
From MSNBC:
The Rev. Ted Haggard admitted Friday he bought methamphetamine and received a massage from a gay prostitute who claims he was paid for drug-fueled trysts by the former head of the National Association of Evangelicals. Mike Jones, the 49-year-old Denver man who raised the allegations this week, quickly refuted Haggard’s denial. Shortly after Haggard told reporters outside his home, "I bought it for myself but never used it. I was tempted, but I never used it,” Jones told MSNBC-TV’s Rita Cosby that Haggard snorted meth in front of him about once a month for two years.
ParticipantIt's very interesting. The misbehaving on the right resigns, the misbehaving on the left is defended by screaming militant leftists, and stays… L Thek
The most powerful evangelical in America is exposed as a philandering hypocrit and this guys response is to point fingers at "leftists".
What a joke.
ParticipantIf they are untrue (which is very possible – why is everybody so anxious to believe a prostitute?), then I feel a little sorry for him.
Haggard has admitted to "indescretions" and the prostitute has letters and voicemails from Haggard.
ParticipantGosh, I keep forgetting that I've lost 50+ IQ points from watching O'Reilly…..
Please stop watching O'Reilly – he is the Jerry Springer of evening political talking heads. Regardless of whether you're conservative or liberal, O'Reilly is an insult to your intelligence. He takes complex issues, analyzes them without context, and argues simple solutions without considering potential ramifications.
In short, he's a bum whose game is dependant upon viewers not doing their homework and becoming educated on the issues. The sooner he's off the air the better off we'll all be, conservatives and liberals.
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