Hey I respect the fact that the owner decided to opt out...ok now the bank is left with the crap....so whacha do with lemons????....Make lemonade!!!!
So now they have these homes and they are selling the good candy to the highest bidder...."sounds like good buisness to me..." I give props to the banks..but people you should realized a house is a home..this not a good investment for the short run..it should have never been that way in the first place...Buy a home, and please live in it...
Oh one more thing..it will go down in value...for the first years..but historically..by 2014 (5 years) I can see and feel the population factor will push the prices back up. Yaaay!!!
Showing posts with label trump. Show all posts
Showing posts with label trump. Show all posts
Sunday, May 10, 2009
Tuesday, May 5, 2009
Home Sale recovery??
"The latest encouraging data came May 4, when the National Assn. of Realtors said its index of pending home sales rose 3.2% from February to March.
First of all, remember what pending means. These are homes that have gone under contract -- but have not actually sold. The Realtors' association says that based on historical data, the pending sales numbers do closely track future sales. But the correlation is much stronger in the year-over-year data than it is in the month-over-month numbers. The increase over March 2008 was much more modest, just 1.1%."
This is not a recovery....
Cheaper Homes Selling Well
More than 40% of all sales nationally -- is being driven by banks unloading foreclosed homes at distressed prices. Higher-end homes are not selling anywhere near as well as cheaper homes. That's not an indicator of a truly healthy housing market.
At the Milken Institute's Global Conference last week in Los Angeles, leveraged-buyout king Thomas Lee pointed to a slide showing the large number of "Alt-a" adjustable-rate loans due to reset in coming months. These loans -- made to buyers with decent credit but who were required to show less documentation of their income -- could default in larger numbers, to the extent that they reset at higher rates.
Ok here comes the truth...
Another 10% to Go?
Donald Brownstein, chief investment officer for money manager Structured Portfolio Management, told Milken conference attendees that his internal calculations show home prices have to fall about 40% off their peak before hitting bottom. The latest Standard & Poors/Case-Shiller home price index numbers showed a 30% decline from the peak in the summer of 2006, meaning we still may have a ways to go.
This edit of an article posted on my website is the subject of my concerns...and like I said before...
the trump is right.
First of all, remember what pending means. These are homes that have gone under contract -- but have not actually sold. The Realtors' association says that based on historical data, the pending sales numbers do closely track future sales. But the correlation is much stronger in the year-over-year data than it is in the month-over-month numbers. The increase over March 2008 was much more modest, just 1.1%."
This is not a recovery....
Cheaper Homes Selling Well
More than 40% of all sales nationally -- is being driven by banks unloading foreclosed homes at distressed prices. Higher-end homes are not selling anywhere near as well as cheaper homes. That's not an indicator of a truly healthy housing market.
At the Milken Institute's Global Conference last week in Los Angeles, leveraged-buyout king Thomas Lee pointed to a slide showing the large number of "Alt-a" adjustable-rate loans due to reset in coming months. These loans -- made to buyers with decent credit but who were required to show less documentation of their income -- could default in larger numbers, to the extent that they reset at higher rates.
Ok here comes the truth...
Another 10% to Go?
Donald Brownstein, chief investment officer for money manager Structured Portfolio Management, told Milken conference attendees that his internal calculations show home prices have to fall about 40% off their peak before hitting bottom. The latest Standard & Poors/Case-Shiller home price index numbers showed a 30% decline from the peak in the summer of 2006, meaning we still may have a ways to go.
This edit of an article posted on my website is the subject of my concerns...and like I said before...
the trump is right.
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