mike2
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deejayoh wrote: turned out it was them being sold for huge discounts to Seattle buyers. Boat ownership here is high, but lots of huge yachts were bought on the cheap from distressed CA sellers in the last down turn. Back then, my girlfrien…
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Approximately 60 listings now, 3 of which are contingent. Talk about a slowdown. Time to cut those prices!
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sniglet wrote: How can a sub-prime mortgage security be AAA? That doesn't make any sense. I wish I had a link to a better explanation, but the AAA rating vs BBB- rating has to do with risk exposure, not the rating of the MBS directly. BBB-…
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When the housing appreciation started seriously outpacing job growth in 2004 this thought occurred to me. Seattle was one of the cities most juiced up by dot com wealth and people were buying like crazy, vacancy rates were ultra low and rents wer…
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deejayoh wrote: So Mike - My understanding of the process is that you can't foreclose w/o issuing a NOD. An NOD is step one of the foreclosure process - What I'm getting at is the bank has no financial interest in starting something it ca…
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It seems to me that as banks get better at picking which homeowners to foreclose on, we may even see NOD's come close to a 1:1 ratio with foreclosures, while NOD's in general decline. Banks generally don't want to foreclose, and apparently have q…
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Is the $40/hr for full time or contract? For Full time w benefits that's pretty good, for contract w/ no benefits, not so much.
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What I find odd about this story is they don't list any Pink Ponies amongst the couples assets. Are we to assume those have already been sold to help pay the mortgage? Are local pawn shops seeing a glut of Pink Ponies in their inventory?
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finance wrote: ...and a business degree from a top tier college (like WAZZU) So if you went to uh... Eastern, you're out of luck? *as a side note, one of the wealthiest investors I've met graduated from there.
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From what I remember, the academic areas where Snohomish, Lake Stevens and Marrysville excel are in Truck liftin' and teen pregnantin'.
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Alan wrote: When I see the price of gold compared to real estate, the both look very similar since 2000. If real estate is in a bubble, then gold may be too. Why would the market for homes and gold be comparable? Gold is an internationally…
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sniglet wrote: Stricly speaking, I am not sure that simply writing loans and selling them off to investors would "expand" the money supply in and of itself. Yep, using the security as collateral for further borrowing/investing is the next s…
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sniglet wrote: Don't non-bank entities (e.g. Freddie-Mac, Goldman Sachs, hedge funds) have the ability to create money even easier than regulated banks? My understanding is that a lot of the new money being created these days is from non-tradition…
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deejayoh wrote: Good observation about interest rates. It's not entirely true to say they dropped steadily, they oscillated around a fair amount and were highest at the point the market pulled out of it's slump - which seems counterintuitive w/r/…
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I've said this before, and I still think the largest difference will be interest rates. The 89-94 downturn was largely mitigated by a 40% drop in interest rates, from around 10% to 7% which helped restore affordability. Given where we are in th…
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perplexd wrote: If the bank really takes the loss, then the ditech-125 loans don't make any sense to me. If bankers really were fully exposed to anything & everything the buyer doesn't lose, why would they make such stupid loans? I was …
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perplexd wrote: I used to make a very similar argument, but the answer "somebody probably lost money" isn't really satisfactory. If a borrower is foreclosed on and the home sold at auction, either the buyer lost the money (down payment) or …
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perplexd wrote: Regarding the inflation vs. deflation, here's something to chew on. I used to argue the delfation case under a massive credit-loss scenario, but here's the counter argument that has me stumped and almost permanently in the hyper…
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Ok, here's a weird one. 5 warranty deeds since 3/30/07... Can anyone explain this? 8501 Midvale Ave N Seattle, WA 98103 Purchased 3/30/07 for $354K Current asking price: $339K http://www.redfin.com/stingray/do/print ... -id=836311 …
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This has to hurt... 8518 Nesbit Ave N Seattle, WA 98103 Purchased 4/5/2007 for $369,500 Current asking price: $329,990 That's -$40K in 2.5 months. http://www.redfin.com/stingray/do/print ... -id=471494
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I'm seeing some reports that the interception of illegals at the southern border has dropped off and that cash flows into Mexico via wire services have dropped significantly. I'd like to think that the immigration problem will (at least partially…
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Tanta did a pretty good write up on this article. Any industry who wishes to get you to believe that it is the hapless victim of this kind of crudity on a major scale is willing to look pretty stupid. You would want to ask why. Calculated Risk…
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This article link gives the full story if you enter from google's results. http://news.google.com/news?um=1&tab=wn ... %20seattle I guess they are making more land after all.
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I'm not finding any 2007 sale of that parcel #8032700150, but it does appear the original lot was subdivided into thirds in 2004 with 2 townhomes build behind the original structure.
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I too wouldn't be surprised to see a short term pop in sales, simply because those people that locked in rates sometime in the last 45 days see that they couldn't get the same deal again today. Beyond that, Re-Fi's have the most incentive to move…
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The May #'s are out, and while they're still good they did rise a bit from what *may* turn out to be a cyclic low. Washington's unemployment rate increased slightly in May, to 4.6 percent, from April's record low of 4.4 percent. In Seattle, th…
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This condo flip doesn't look like it's going to end well. Previous sale price: $225,000 Current asking price: $255,000 1900 N Northgate Way #H1908 Seattle, WA 98133 http://www.redfin.com/stingray/do/print ... -id=760171 Figuring they f…
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What, is this poll designed exclusively for the Bears? How is our resident Bull supposed to vote with no +15% option?
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Eleua wrote: I never understood how a sock stuffed with beads was worth more than 50 cents. I felt like a crack dealer selling those things. Mostly I sold them to stores and mall stands. The funny part was when someone would see me pulling…