From Diana Olick at cnbc.com: I have argued many times that just because a loan is underwater (value of loan is higher than value of home) it doesn't necessarily mean that the borrower will stop making timely payments. Yes, the incentive to abandon the home is there,...
Rainy weather is a great time to check for leaks. Yards are usually over-watered to begin with, then you add in the deluge we've had over the last few weeks and you're going to find some problems. For those who don't mind tilling your own soil, you can fix exterior...
Talk about slim pickings - on the MLS there are only two active listings of Carmel Valley bank-owned SFRs: 1. Fairbanks Highlands (here), where it's the cheapest of 9 active listings. 2. And this one in Palacio Del Mar, a gated community near the intersection of...
According to Freddie Mac's (OTC:FMCC) latest Primary Mortgage Market Survey (PMMS), all mortgage products increased this week except the 1-year ARM. This brings 30-year mortgage rates back to levels seen in May of this year, while the 15-year ties levels not seen...
Some explanation of why the 4,040sf REO on Encanto was priced at $795,000 - on the other side of Bressi there has been a few sales around $200/sf:
Notice how people think that foreclosures automatically mean lower prices? The pundits and mainstream media talk about a surge of foreclosures plunging us into the abyss; that prices would plummet. Why? I don't see any REO listings being given away around here, if...
General 2010 stats from the San Diego MLS: Total listings: 2009 - 70,744 2010 - 73,437 (+4%) The additional were probably all re-lists. Total Sales, Detached and Attached: 2009 = 35,240 2010 = 32,727 (-7%) Lower sales reflect the difficulty of finding good deals -...
One last reflection on 2010 - the Science of Sports called this the best sports video of the year:
Copied from Paul Kedrosky's Infectious Greed (here). Click on "menu" in bottom left corner, and select "view fullscreen": JWT: 100 Things to Watch in 2011 View more presentations from JWTIntelligence.
An example of the lunacy in the real estate business today, sandwiched with red-tail hawks:
