I found The 680 Blog in my many online travels and decided to link to it, especially since its audience is truly East Bay. Agent Doug Buenz interprets “RealtorSpeak” for us: “I’m Gorgeous Inside” = I know the house isn’t that great on the outside, and neither is the inside, but I have to put something on the [...]
Filed under: House Hunt, The Market | 2 Comments »
This nugget from Calculated Risk, talks about how Countrywide Financial allegedly sent a memo to its employees: A portion of HELOC customers have already or will soon be notified by CFC Loan Administration that their HELOC draws have been suspended indefinitely. These HELOCs were identified as candidates for suspensions for various reasons including: Significant decrease [...]
Filed under: Mortgage Mania, The Market | 3 Comments »
It’s been a while, but I said we would talk about predictions for 2008 by our readers and elsewhere. From Christopher Thornberg, economist from Beacon Economics (courtesy of Los Angeles Times Opinion section): The cold, hard truth is that foreclosures are serving only to hasten the painful process of shifting housing prices back to a level [...]
Filed under: The Market | 1 Comment »
If you’ve seen these commercials, or the corresponding Web site, you might get chills from the creepy cheerleading by the National Association of Realtors. Its “Every market is different” mantra isn’t accurate, unfortunately. It’s all in a downturn (see my last post.) “Did you know 60 percent of a family’s wealth comes from their home’s equity?” the [...]
Filed under: House Hunt, The Market | 4 Comments »
The title of this is paraphrasing what Rick Sharga, VP of marketing for RealtyTrac told me yesterday for this story. “This is not a phenomenon limited to a certain type of socioeconomic class and geography,” said Rick Sharga, vice president of marketing for RealtyTrac. “There’s no one area of the country, or the state, [...]
Filed under: Foreclosure Fever, Mortgage Mania, The Market | 1 Comment »
Over the weekend, kram asked about how many subprime loans are out there and at what foreclosure rate. I found over at the Mortgage Bankers Association, this information from December 2007: % of Loans % Foreclosed Prime Fixed 63.1% 17.6% Prime ARM 14.5% 18.7% Subprime Fixed 6.3% 12.0% Subprime ARM 6.8% 43.0% FHA & VA [...]
Filed under: Foreclosure Fever, Mortgage Mania, The Market | Leave a Comment »
