Last week I went to another overpriced open house and there on the couch was a representative from Countrywide who basically told me I had to come up with 10 percent down to a buy a house now. (I know, quelle surprise to me!) I kind of felt the seller was a bit presumptuous having [...]
Filed under: Mortgage Mania, The Market | 1 Comment »
If you saw this story, you may dismiss it as another Associated Press business story. Or you may realize that until recently, Lennar held almost a whole building at Bishop Ranch in San Ramon filled with employees. That number has been dwindling. Expect more by Christmas. Tough times in the national housing market led Lennar [...]
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West Coast Green can be a little overwhelming. You head to San Francisco, are herded around barricades into the Bill Graham Auditorium where you are again herded into conference rooms or into the 8:30 a.m. plenary and there are tons of people. If you go after 10 a.m., the exhibit hall opens up, and you [...]
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The Federal Reserve’s rate cut doesn’t mean much to homeowners. However, if you have a HELOC (home-equity line of credit) it does. According to the Wall Street Journal article referenced above: The rate cut is good news for borrowers with home-equity lines of credit, and savings could show up as soon as the next monthly [...]
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In case any of your were wondering about an epilogue on my “Priced to Sell” story, there’s not much to say. Many of the homes left the market, are back on the market, but some never came back. Others dropped their price. In Pleasant Hill, 22 Cleopatra Way went down to $492,000 on Sept. 12. [...]
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In The Independent former chair of The Federal Reserve, Alan Greenspan admitted he knew his cuts to interest rates were encouraging a subprime boom. According to excerpts released by CBS, Mr Greenspan will concede that he “didn’t really get it” with regard to sub-prime lending and the risks it presented until too late. He argues, [...]
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