Housing Blogs

Heading to Budapest for the next month, may check in Sunday night if they have this crazy thing called the internet on the way… I’m just hoping for paved roads and running water though…Meanwhile, here’s a r…
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From the Oregonian:Of all the stocks in the world, arguably none was more volatile or dangerous last week than faltering Wall Street titan Bear Stearns.But where others saw a black hole, the principals at Portland discount brokerage HybridTrading saw gold. On Friday, the company made a huge and ultimately fatal investment in the teetering investment bank.B…
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Good article in the Sun the other day about the home builders having tough times and having to cut costs in Maryland. We all know this is because the craziness of the past couple years made a lot of people doing contractor work very fat and happy. Now it comes down to survival of the fittest as suppliers also have to cut costs….
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It is no surprise that many lower price areas are taking the brunt of this market correction especially in many cities in Southern California. However, not much has been examined between the synergy of employment linked to real estate and housing values. It was a symbiotic relationship that fed off each other. As the market trends pushed prices lower, the next train to leave the station is jobs that were dependent on ever rising home prices and a larger volume of sales. The churn and burn economy. This of course isn’t something new to this current era of economic prosperity and won’t be the last time that we witness such mob euphoria. Yet California is uniquely positioned that it will face to a large extent, some of the worst that will come with this housing led recession. It lived by the real estate, it will suffer by the real estate. To iterate on this point, let us examine a series that CNN Money is now doing looking at individuals and how the current economic downturn is impacting their lives. This s…
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We’ve heard a lot from the analysts and government officials on the effectiveness of the Fed’s intervention.  While there is still plenty of concern, the general mood seems to be "Whew! We dodged that bullet!"  Take this example from CNBC yesterday:

Well-known banking analyst Richard Bove even delivered a report on the financial sector Thursday with the bold heading, "The Financial Crisis Is Over."…
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Thank you, Daniel Gross, for the mention in your latest article: Recession Literature, The best books, articles, and Web sites about the economic collapse.

Irvinehousingblog.com is an exemplary Internet mashup. Irvine, the master-planned community in Orange County, Calif., was in many ways the epicenter of the housing boom. Many of the now-defunct ambitious subprime lenders were based there. And the O.C. housing market was a hothouse of speculation and refinancing. Today, it’s the “seventh circle of real estate hell.” Using realty listings, public records about debt, and YouTube videos of popular songs, an anonymous blogger who goes by IrvineRenter skewers homeowners who paid too much and are now desperately trying to recoup their investments. Realtors who post lame photos, misspell words, or engage in silly promotion-speak also come in for ridicule. At the end of each entry, the blog calculates precisely how much a homeowner—or the bank that foreclosed on his or her property—will lose if the house gets its offering price….
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 The list price on 78 Sorenson is down t0 $549,000, and the property is in escrow.
That’s life (that’s life), that’s what all the people say…
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This one went back to the bank on 2/4/2008 for $616,250.
Our house, in the middle of our street
Our house, in the middle of our
…
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Now Open, Part II!
Prior weekend thread closed due to comment overflow.
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Purchase Price: $900,000
Purchased: 1/27/2006
Current Asking Price: $760,000 (Pre Foreclosure/Short Sale)
16% under 2006 purchase price

Highridge Ave, Cliffside Park NJ
History
MLS# 2638819
Listed: 10/2/2006
Original List Price: $999,000
Days on Market: 22
Withdrawn
MLS#: 2646367
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MLS# 2491585 - Orchard Drive, Randolph NJ
Purchase Price: $700,000
Purchased: 6/23/2003
Current Asking Price: $469,000 (REO)
33% under 2003 purchase price

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Earlier this week, the UK’s leading banks went to see Mervyn King. At the time, the visit made me so angry I could barely speak. I needed a few days to calm down before I posted anything about the meeting.According to the press, the banks were there to look for help with the credit crisis. In particular, the banks begged the BoE to provide “much needed liquidity”.Do the banks need any help from the BoE? I don’t think so. To see why, let us start with a couple of simple but revealing questions. First, why weren’t the banks looking for help last July? Presumably, back then were was plenty of liquidity….
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Hey gang - just a big thank you for the 1,500 of you who have Blown Mortgage in your feed reader.  I remember back when I had 1 and it was me.  I am humbled that another 1,499 decided that what Blown Mortgage has to say is worthy of a spot in their readers as well.  So thank you graciously.  It means a lot to yours truly.
I have another big announcement to make.  I’m leaving the mortgage industry.  I’ve been offered the opportunity to be the director of marketing for a company up in the Bay Area and I’ve accepted the position.  I’m super-excited at the new opportunity.  Ironically, I got the job because of this blog.
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