mike2
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GetReal wrote: Yes, expect problems as even prime homeowners (with ARMs and other 'creatuive' loans) have problems re-financing. Traditionally, subprime offered an escape route for prime borrowers facing cash flow problems. Not anymore.
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I can't say I'm totally surprised. Looking at what the UK did in 2005 when their floundering housing market started slowing down their overall economy so they cut rates and re-started the bubble. Whether the Fed action is going to result in bubb…
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Just a gray 4-door compact. Total sleeper. 275HP, Turbo, 6M, AWD.
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on 1 bedroom condos - along with studios, the most uninformed purchase you could make if it's not cash flowing as a rental. I read that article and, and all said it seems like a good argument for a return to 2001 pricing if historical trends prev…
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Here's two trends I've been watching during the bubble: - Prices on 60's Chevy and Mopar muscle cars - The resurgence in Poker
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EastSider wrote: Can't you get around jumbo loans by having 2-loans (eg: 80/20, etc)? If not, the high rates on jumbo loans will impact a mojority of SFR buyers on the eastside? I have no reliable source but I've seen some brokers posting t…
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Seems that if you can afford a $370K home on under $100K/yr you already have a pretty good sized nest egg. What's the point of this, to subsidize lazy trust funders?
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Here's a property in greenwood that was purchased last year by an investor. Does not appear to be in foreclosure. 9230 1st Ave NW Seattle, WA 98117 Last Sale 10/2006 $410,000 Currently listed at $375,000 http://www.redfin.com/stingray/do/…
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It's probably worth pointing out that alot of the Alt-A loans that were written in the last 2 years are by todays standards either subprime or not even fundable. That really does not bode well for the Seattle area.
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rose-colored-coolaid wrote: Just another name for repo-man? My guess is they work with hard money lenders looking for leads.
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I'm starting to think Cramer's rant last week had some real substance behind it, regardless of how misguided his pleas were.
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perfectfire wrote: Did the survey subtract people moving out? Not from what I can tell. The %'s only represent people looking to relocate to a particular state. Count me as part of the outflow.
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synthetik wrote: Wow...you are just so desperate to see someone in Real Estate get burned. It's really sort of sad....what would make someone so malicious? not someone...just you. I don't think it would have anything to do with the dail…
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This explains why 33% of mortgages are IO or Option ARMS. People I know are already starting to leave for higher pay in other parts of the country. Myself included. I'm outta here at the end of the month. Tainer said she expects the middle t…
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Nude wrote: If people can get a home for $100k less by driving for 30 minutes in any direction, there is nothing that is going to prevent them from buying one. You're only going to see this among lower wage earners. An additional $100K on …
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Jazen wrote: Can this be right? Check out the last sale. http://www.redfin.com/stingray/do/print ... id=1010248 From the listing: "Home occupies Lot 3 of new Madison Ridge, a five-lot plat adjacent to newer homes on Idel Weis Court. ". …
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I suspect the "do it yourself" services also attract the type of people that perpetually list their car in Autotrader for $10K above market value just hoping that someone will want it bad enough to overpay.
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sniglet wrote: Believe it or not, but Jim Cramer is advising people to "walk away" from their homes if they find themselves significantly under water, even if they are not struggling financially. This just goes to my point that the massive prol…
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This flip was owned by the same guy that took a $72K loss on another house near northgate. 1509 23rd Ave S Seattle, WA 98144 Previous sale price: $470K Contingent at: $413K http://www.redfin.com/stingray/do/print ... -id=743889 I check…
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The Tim wrote: mike2 wrote: What was the YOY last year at this time? 17.13% I kid you not. See for yourself. Seems reasonable. All I was hearing (then) from my friend that lives in Tacoma was "you need to buy RIGHT NOW!!!!". …
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What was the YOY last year at this time?
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Ah, good to see the 07-2's are up. These will be interesting to watch as they largely represent loans issued after the shit hit the fan.
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Eleua wrote: I'm sure she is giving a rat's ass now. :P Nah looks more like denial, maybe approaching anger.
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finance wrote: My own example: I put money down on my condo on June 27th 2006 for $239,990 and was just appraised for $265,000 yesterday ($25,010) or a 10.4% increase in real price. You're using bubble year appreciation for an example of wha…
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Wow, Ardell seems awfully freaked out. 7. ARDELL - July 19, 2007 That makes no sense, really. How can someone have to qualify at 11.125? Rhonda, is that true? I find that hard to believe. Then she goes on to say that qualifying people at the…
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I can't wait to see some data on how many of last years buyers using nontraditional loans could actually qualify for the same purchase price on a fully amortized loan. I'd guess it's less than 1 in 5. Using historical averages, it may be as low …
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It appears that "Worthless" is the word of the day at Bear. Ouch. 91% haircut on one fund, 100% on the other.
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wreckingbull wrote: Finance, 300K does not even get the contractor started on a major moisture intrusion problem (which RJP points out, happens more than you would think.) That amount probably handles legal, (it is usally worth it to go after…
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The only people I've known that haven't had an assessment were those that bought brand new less than 3 yrs ago. Every other condo owner from my grandma, to friends and co-workers has had at least one, usually related to water damage. $20K isn't …
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rose-colored-coolaid wrote: My contention is that you aren't providing any proof that foreclosures on prime mortgages are related to what's happening in subprime land. Don't get me wrong, I haven't seen any proof that they aren't related either. …