Comments on: Reading Between The Lines

By: George McCumiskey

George McCumiskey — Wed, 19 Nov 2008 14:51:42 +0000

Once upon a time my checking account was overdrawn because some fool stopped payment on a check. Then this fool didn’t bother to check his balance before paying bills. Cost to me – $489.00 in the red. I did moan and cry for the bank to bail me out. Fat chance.

Cost to me. $210+

Now my bank has screwed up. They cried for the government to bail them out. Voila – they are bailed out.

Cost to the bank – nada.

One other thought. Shouldn’t a bank be smarter about finances than I was?

By: Real Estate News » Blog Archive » Fannie Mae Posts Record Losses

Real Estate News » Blog Archive » Fannie Mae Posts Record Losses — Mon, 10 Nov 2008 16:09:00 +0000

[...] The Bailout is tricky with many moving parts but it seems to me that things aren’t looking promising yet, especially given that stockholders have to be kept happy, but at whose expense? [...]

By: Real Estate News » Blog Archive » Americans Not Confident in Economic Rescue Plan

Mon, 03 Nov 2008 17:55:17 +0000

[...] American Government began implementing the $700 billion economic rescue/bailout package and surprisingly, the First Command Financial Behaviors Index (FCFBI) indicated that 63% of [...]

By: Linsey

Linsey — Sat, 01 Nov 2008 17:54:14 +0000

I’m not ready to throw a party about California’s ‘sales are up’ news just yet. Most of that movement is in the low price points and in the most distressed sectors of the market.

65% of the active inventory of homes in Rancho Santa Margarita under $500,000 are short sales. In Mission Viejo, 50% of the active inventory under $500,000 are short sales.

I just wrote about this issue on my blog a couple days ago. Solving the short sale crisis is the help ‘Main Street’ needs. We need efficiency – yesterday.

The negotiator with the bank on one of my short sale listings will only commit to a 4 to 6 month response time – and they’ve already approved the hardship. Our first 4 buyers at full price walked over the course of the last 4 months waiting for a response. She says the file starts all over with a new buyer! There is no excuse for this kind of inefficiency. The value on my short sale I mentioned has fallen at least $50,000 since the initial offer.

Until we solve this facet of the market, inventory is misrepresented higher than it should be, buyers stand by waiting to hear (pent up demand), property condition deteriorates, and values continue to decline.

Solve the short sale market and we’ll have a good head start to a recovery. Until then…I’m not sure about the benefits of this great bailout.

By: Chris Shouse

Chris Shouse — Sat, 01 Nov 2008 02:41:21 +0000

Things are looking up in Las Vegas also.

By: Missy Caulk

Missy Caulk — Thu, 30 Oct 2008 22:05:16 +0000

Jeff, same thing here in Ann Arbor, prices are down, home sales up.

By: sheilabragg

sheilabragg — Thu, 30 Oct 2008 19:05:59 +0000

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By: Mark Eibner

Mark Eibner — Thu, 30 Oct 2008 18:17:30 +0000

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