Comments on: ‘Hotness’ Factor http://www.bubbleinfo.com/2009/06/30/hotness-factor/ An insider's guide to North San Diego County Real Estate Wed, 10 Mar 2010 10:00:59 -0700 hourly 1 By: doughboy http://www.bubbleinfo.com/2009/06/30/hotness-factor/comment-page-1/#comment-17460 doughboy Wed, 01 Jul 2009 15:34:04 +0000 http://www.bubbleinfo.com/?p=3621#comment-17460 Vista is at the bottom! Come on out and take a look! The ice cream trucks are spending the nights here in the Vista holding pen and driving the Mc Mansion neighborhoods by day! Vista is at the bottom! Come on out and take a look! The ice cream trucks are spending the nights here in the Vista holding pen and driving the Mc Mansion neighborhoods by day!

]]> By: NateTG http://www.bubbleinfo.com/2009/06/30/hotness-factor/comment-page-1/#comment-17449 NateTG Wed, 01 Jul 2009 13:02:22 +0000 http://www.bubbleinfo.com/?p=3621#comment-17449 JK - California hasn't passed a budget on time in quite a while. In practical terms, they apparently still have two weeks (which is quite a while) to work things out. JK – California hasn’t passed a budget on time in quite a while. In practical terms, they apparently still have two weeks (which is quite a while) to work things out.

]]> By: greekfire http://www.bubbleinfo.com/2009/06/30/hotness-factor/comment-page-1/#comment-17446 greekfire Wed, 01 Jul 2009 07:07:32 +0000 http://www.bubbleinfo.com/?p=3621#comment-17446 Total macro shot-from-the-hip here. We are currently in the eye of the storm in SoCal real estate. The next wave of damage will probably begin sometime in Q4 2009. The real cynical part of me thinks that politicians will try to stall until just after the 2010 elections. If so, that's when stuff will really hit the fan. No hard data, just a gut feeling. Yes, there are deals out there in spots. But those are small in number and getting sucked up as soon as they are listed. The banks are playing footsie with us and not showing all their cards. Total macro shot-from-the-hip here. We are currently in the eye of the storm in SoCal real estate. The next wave of damage will probably begin sometime in Q4 2009. The real cynical part of me thinks that politicians will try to stall until just after the 2010 elections. If so, that’s when stuff will really hit the fan. No hard data, just a gut feeling. Yes, there are deals out there in spots. But those are small in number and getting sucked up as soon as they are listed. The banks are playing footsie with us and not showing all their cards.

]]> By: 3clicks from da Beach http://www.bubbleinfo.com/2009/06/30/hotness-factor/comment-page-1/#comment-17443 3clicks from da Beach Wed, 01 Jul 2009 04:43:03 +0000 http://www.bubbleinfo.com/?p=3621#comment-17443 I'll be happy to predict bottom is here so as long as I can downgrade/revise my prediction next month if I'm wrong :D I’ll be happy to predict bottom is here so as long as I can downgrade/revise my prediction next month if I’m wrong :D

]]> By: propertysearch http://www.bubbleinfo.com/2009/06/30/hotness-factor/comment-page-1/#comment-17442 propertysearch Wed, 01 Jul 2009 02:38:57 +0000 http://www.bubbleinfo.com/?p=3621#comment-17442 Oceanside, Vista, and San Marcos homes are flying off the shelves. Even the short sales seem to be closing within 30-60 days. With inventory so low, will the shadow inventory have the effect we are predicting? Is anyone bold enough to predict bottom for these three cities or do you think it is simply a spring/summer fever bump? Oceanside, Vista, and San Marcos homes are flying off the shelves. Even the short sales seem to be closing within 30-60 days. With inventory so low, will the shadow inventory have the effect we are predicting?
Is anyone bold enough to predict bottom for these three cities or do you think it is simply a spring/summer fever bump?

]]> By: Jay jay http://www.bubbleinfo.com/2009/06/30/hotness-factor/comment-page-1/#comment-17441 Jay jay Wed, 01 Jul 2009 00:53:31 +0000 http://www.bubbleinfo.com/?p=3621#comment-17441 Sdbri, that is too funny. This whole revision thing so phoney. Sdbri, that is too funny. This whole revision thing so phoney.

]]> By: sdbri http://www.bubbleinfo.com/2009/06/30/hotness-factor/comment-page-1/#comment-17440 sdbri Tue, 30 Jun 2009 21:05:53 +0000 http://www.bubbleinfo.com/?p=3621#comment-17440 shadash, they've been doing this for a long time. Some of us noted that at one point for 12 months straight, every single month was revised down. This led to 12 months of increases that added up to a year of decrease! Every month was quietly downgraded in hindsight so the only way you knew they were lying the whole time was to have kept track of their trumpeting predictions. shadash, they’ve been doing this for a long time. Some of us noted that at one point for 12 months straight, every single month was revised down. This led to 12 months of increases that added up to a year of decrease! Every month was quietly downgraded in hindsight so the only way you knew they were lying the whole time was to have kept track of their trumpeting predictions.

]]> By: shadash http://www.bubbleinfo.com/2009/06/30/hotness-factor/comment-page-1/#comment-17439 shadash Tue, 30 Jun 2009 20:51:58 +0000 http://www.bubbleinfo.com/?p=3621#comment-17439 Come on... "For May, the group reported an 89% increase in sales in San Diego; that will be slashed to about 6.5%, the economist said." This either proves CAR is immensely stupid, or "on the take" Come on…

“For May, the group reported an 89% increase in sales in San Diego; that will be slashed to about 6.5%, the economist said.”

This either proves CAR is immensely stupid, or “on the take”

]]> By: JK http://www.bubbleinfo.com/2009/06/30/hotness-factor/comment-page-1/#comment-17438 JK Tue, 30 Jun 2009 20:42:44 +0000 http://www.bubbleinfo.com/?p=3621#comment-17438 Jim / other realtors, What will the CA budget issue (i.e. no money as of tomorrow) do the SD RE market over the next month / 6 months? Jim / other realtors,

What will the CA budget issue (i.e. no money as of tomorrow) do the SD RE market over the next month / 6 months?

]]> By: Ronald McMansion http://www.bubbleinfo.com/2009/06/30/hotness-factor/comment-page-1/#comment-17437 Ronald McMansion Tue, 30 Jun 2009 20:42:29 +0000 http://www.bubbleinfo.com/?p=3621#comment-17437 http://www.bloomberg.com/apps/news?pid=20601087&sid=amq8v.M.ak60 Prime mortgages 60 days or more past due climbed to 2.9 percent of such loans through March 31 from 1.1 percent at the same point in 2008, the Office of the Comptroller of the Currency and the Office of Thrift Supervision said today in a report. First-time foreclosure filings on the loans rose 22 percent from the fourth quarter, the report said. “I’m very concerned about the rise in delinquent mortgages and foreclosure actions,” Comptroller of the Currency John Dugan said in a statement released with the quarterly report. ***** http://mortgage.freedomblogging.com/2009/06/30/delinquencies-rise-on-least-risky-mortgages/12869/ The agencies also said, not for the first time, that mortgages modified to help struggling borrowers stay in their homes fail about half the time. For example, about 53 percent of mortgages modified in the first quarter of 2008 were 30 or more days delinquent after six months. That increased to a 63 percent default rate after a year. The only thing that would significantly improve the loan mod success rate would be principal reductions. But banks almost never willingly reduce debt on a property, which would mean recognizing a loss without gaining control of a property. And bankruptcy cramdown legislation keeps getting stuck in Congress. So the foreclosure tsunami continues. http://www.bloomberg.com/apps/news?pid=20601087&sid=amq8v.M.ak60

Prime mortgages 60 days or more past due climbed to 2.9 percent of such loans through March 31 from 1.1 percent at the same point in 2008, the Office of the Comptroller of the Currency and the Office of Thrift Supervision said today in a report. First-time foreclosure filings on the loans rose 22 percent from the fourth quarter, the report said.

“I’m very concerned about the rise in delinquent mortgages and foreclosure actions,” Comptroller of the Currency John Dugan said in a statement released with the quarterly report.

*****

http://mortgage.freedomblogging.com/2009/06/30/delinquencies-rise-on-least-risky-mortgages/12869/

The agencies also said, not for the first time, that mortgages modified to help struggling borrowers stay in their homes fail about half the time. For example, about 53 percent of mortgages modified in the first quarter of 2008 were 30 or more days delinquent after six months. That increased to a 63 percent default rate after a year.

The only thing that would significantly improve the loan mod success rate would be principal reductions. But banks almost never willingly reduce debt on a property, which would mean recognizing a loss without gaining control of a property. And bankruptcy cramdown legislation keeps getting stuck in Congress. So the foreclosure tsunami continues.

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