I’m a looky-loo, so what? How can you not go to an Open House in your neighborhood. Haven’t you always wanted to know what their house looked like? So you’re not interested in buying, you just want to look. Apparently, I am, and many like me, are a scourge for real estate agents who feel [...]
Filed under: House Hunt, The Market | Tagged: looky-loo, open house, scourge | 7 Comments »
Fannie Mae and Freddie Mac today announced a major initiative expected to provide up to $200 billion of immediate liquidity to the mortgage-backed securities market, or about $2 trillion worth of home loans. What does it mean? Not much. We shall see. At best, be cautiously optimistic. And onto my Bear Stearns ranting. On MarketWatch today: Kurt Eggert, a [...]
Filed under: Mortgage Mania, The Market | 1 Comment »
I was having a talk with someone the other day about how bankers don’t care about everyone being in foreclosure. “You remember Mr. Potter from ‘It’s a Wonderful Life?’” I asked. “That’s them. Really.” “No, no,” he said. “Yes,” I said. Then in my my best Lionel Barrymore voice, “What are you running here, a building [...]
Filed under: Foreclosure Fever | Leave a Comment »
In case you haven’t heard, Ben Bernanke and the Federal Reserve are planning on expanding their $200 billion initial bailout of Wall Street with another $30 billion line of credit (remember when homeowners used to be able to get those?) to JP MorganChase to rescue take over investment firm Bear Stearns and a new lending [...]
Filed under: Foreclosure Fever, Mortgage Mania, The Market | 3 Comments »
Our New Feature: Saturday Schadenfreude! ‘Ridiculous, absolutely ridiculous.’ — Bear Stearns CEO Alan Schwartz, March 10, addressing liquidity-crunch speculation ‘[O]ur liquidity position in the last 24 hours … significantly deteriorated.’ — Schwartz, March 14 Hat-Tip to MarketWatch!
Filed under: Foreclosure Fever, Mortgage Mania, The Market | Tagged: Bear Stearns, credit crisis, liquidity, mortgage, Schwartz, subprime | 1 Comment »
All Homes Number Sold Feb-07 Number Sold Feb-08 Percent Change Median February 2007 Median February 2008 Percent Change Alameda 1,356 753 -44.5% $585,000 $486,500 -16.8% Contra Costa 1,160 753 -35.1% $537,000 $450,000 -16.2% Marin 228 136 -40.4% $829,000 $775,000 -6.5% Napa 93 57 -38.7% $612,500 $525,000 -14.3% Santa Clara 1,654 984 -40.5% $677,000 $658,000 -2.8% [...]
Filed under: Foreclosure Fever, The Market | 5 Comments »
