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13 years ago

That’s the data I will
That’s the data I will include if a counter offer is needed on an REO we just put an offer on.

This game can go on for as long as cash flow is still positive for the banks but at some point is going to put even harder downward pressure on pricing when the music stops.

13 years ago

Rich, thanks for covering the
Rich, thanks for covering the all-encompassing forms of stealth.

In reading the UT article, “4.4 million mortgages in technical default” is alarming and I agree w/Sharga that I think the market is tenuous:

RealtyTrac’s Sharga called the current market “fairly tenuous” because a rise in joblessness, unemployment claims and housing construction could precipitate another downturn. He estimated a 55-month backlog of distressed properties needing to be resold.

But he said the nature of the inventory locally is changing from low-cost starter homes to higher-priced properties.

“You’re moving upscale into more expensive homes and a second wave of foreclosures,” he said.

And I do tend to agree w/Maddox on some areas it’s true:

“I think San Diego is going to have a slight recovery for a little bit, but I don’t think it’s going to last,” Maddux said. “I think what is going to happen is there’s going to be another dip. There’s only so much stimulus money you can do, only so much government can provide. Ultimately, values are still overpriced.”.

13 years ago

It would be nice to get an
It would be nice to get an update from Ramsey regarding his analysis of the current situation and where it’s headed.

13 years ago

With the gulf oil disaster,
With the gulf oil disaster, these issues are still on tender-hooks, and are being conveniently side-stepped. At some point soon, the media needs to ask Obama what he plans to do next?