laxtosnoco
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It's interesting that the CL numbers have not declined with the typical seasonality that one would expect. Any hypotheses?
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It's funny because it's true. The trade discussion was very true and not so funny. Too bad that most economists can't take a step back and crack jokes at the dogma of modern economics.
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You'll pay a few bucks for it, but you can create a lease on http://www.legalzoom.com
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That is a good point Sniglet. Last night my wife came back from a book club meeting at a girlfriend's house. The girlfriend is a teacher and her husband is a pastor, and they traded up houses in the U-district about 2 years ago. Now, they've got …
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I agree with the sentiment that in the long term, if lending sources dried up, prices should fall precipitously. But that might take a long time, and as Keynes said: In the long run we are all dead. Financial markets tend to overreact in both d…
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I'll definitely be watching. Any guesses what they're going to call you? In other words, your name will pop up on the screen and it will say what? The Tim Local Real Estate Blogger or maybe The Tim Skeptic or maybe The Tim Dirty …
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Fannie getting slammed in the next round of major write-downs is actually a major concern for me. Right now, us bubbleheads with good credit and a solid down payment saved can shake our heads at those dumb banks for their loose lending practices. …
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Asking a journalist to provide an economic forecast is like asking a poet to do your taxes. He might do a nice job presenting the information, but you're probably going pay for it later. At least some poetry rhymes.
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bili, I've seen that number thrown around, but everywhere it's quoted the writer is referring to his compensation in salary and stock over the last couple of years. The articles note that he was let go without a written employment agreement and …
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RCC, price per share is pretty irrelevant. Market Capitalization tells how much a company is worth to shareholders: MSFT $341B GOOG $231B AAPL $164B Of course, the most valuable company in the world is Exxon Mobil trading around $90/sh…
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My favorite quote from Mr. Prince: "When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you've got to get up and dance. We're still dancing." (said in July 2007) What kind of severance …
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In a previous job in Los Angeles, part of my job was to supervise a team of housing counselors. I still stay in touch with a few of them, and in a strange way they find their jobs easier now than a few years ago. Buyers are more cautious, suspic…
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I agree compensation has a lot to do with it. Boards could change exec's incentives some if they paid in stock grants vs. stock options. It would also help if they didn't pay CEO's $ millions for the right to get fired in disgrace.
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Sniglet said: "Like I said earlier, don't blame the lenders (or their managers) for the idiotic risky financial schemes they undertook: they were only giving investors exactly what they demanded, and if they weren't willing to do so they were uncer…
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I thought Mozilo was pretty safe from potential prosecution until he started making comments about how CFC is going to bounce back to profitability next quarter. It now looks like he's pumping up the stock, even though all objective evidence cont…
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I don't buy the excuse that 'everyone else was doing it so we had to too.' These companies decided to chase short-term gains for what looks like will be long-term financial ruin. Executives get paid the big bucks because they are supposed to be ab…
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It looks like this might be a larger trend. Realtors can buy a kit: http://stjosephstatue.com/ Anyone want to bet that Mozillo has a Saint Mathew statue buried in his backyard? See: http://www.catholic.org/saints/saint.php?saint_id=84 Any …
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With that listing, Seattle's real estate market has officially jumped the shark. Hey I've got a 1986 LeBaron that was owned by Jon Voight. Anyone interested?
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It will be interesting to see how the media reports this: A.) House prices drop in sign of softening real estate market or B.) Seattle prices hold firm, still up 5 1/2% YOY.
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The number seems really high to me too, but here's the explanation from the census dept report (http://www.census.gov/hhes/www/housing/hvs/hvs.html). "The number of total vacant housing units, 17.9 million, was higher than the estimated number in…
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That last post by Larry was great. Thirteen paragraphs rambling on about how bubbleheads are like day traders. Its too bad he closed comments because I'd like him to explain how not buying something is analogous to day trading. He could have sa…
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Jon, I posted these charts in response to Tim's post on unemployment and real estate prices. The data does show that there is a strong historical relationship between unemployment and changes in housing prices. I agree that the current trend is …
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Looks like Countrywide's PR rep was telling the truth. Of the 25% that ellsworth pulled that had no foreclosure history, they probably reverted back to Countrywide through pre foreclosure action (ex. deed in lieu).
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I don't understand how smart people (high I.Q. at least) are convinced to buy into these things. I think I understand the play: you use cheap short term money to fund long term lending activity, making a nice spread. This can work for a while unt…
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Pete Viles, who runs the L.A. Land blog at the Los Angeles Times, got the following answer from a Countrywide PR representative: "There was an omission in the logic that didn't filter out any properties so it was including all historical REO prop…
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My brother moved to Texas recently (to a mid sized city that participated in the petroleum boom/bust) and the way he tells it, the tough times in Texas still influence people's ideas about homeownership. Folks who've lived there a while see purchas…
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Running a P/E on undeveloped land isn't particularly easy and requires some major assumptions. Unless your income is coming from leasing said land out to a shepherd for grazing.
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Has Robert Citron moved up north and been working for King County? His probation has probably expired by now.
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That's funny, when I check Countrywide's site directly it still shows 68. Maybe there's something wrong with the feed you linked. See: http://www.countrywide.com/purchase/f_reo.asp
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Now that you're addicted, it's time to learn MS Excel. Maybe Lake Hills Renter can give you a tip or two.