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- Neighbor on Richardson house: "pretty disheveled"
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If you want to see the inside of the Sacramento house purchased by Rep. Laura Richardson in 2007 (pictured), t…
Original Source: latimesblogs.latimes.com
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22 May, 2008| housingblogs |
Comments (0) @ 23:20
- Comptroller Dugan on "Unprecedented Home Equity Loan Losses"
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From the Comptroller of the Currency: Comptroller Dugan Tells Lenders that Unprecedented Home Equity Loan Losses Show Need for Higher Reserves and Return to Stronger Underwriting Practices (hat tip Steven) Comptroller of the Currency John C. Dugan said today that accelerating losses in the home equity business show the need to build reserves and to return to the stronger underwriting standards of past years….
Original Source: feeds.feedburner.com/CalculatedRisk
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22 May, 2008| housingblogs |
Comments (0) @ 22:21
- Real Homes of Genius: $1 Million Discount for a 948 Square Foot Long Beach Condo!
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If you think you’ve seen it all be prepared to see the most manic pricing action in the history of this housing bubble courtesy of a condo in Long Beach California. That’s right, the home of Snoop Dogg and the beautiful Queen Mary. The ability to access past sales history readily makes for some fascinating forensics on the incredible financial stupidity of this bubble. If this happened say 20 years ago, it would take some savvy journalist a lot of time to head down to the county clerk’s office, work with local realtors for MLS access, and finally be able to put all the pieces together to show the insanity of the housing orgy. Now all you need is an internet connection, some common sense, and the insanity of the housing market comes together like a thousand piece jigsaw puzzle.
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Original Source: feeds.feedburner.com/DrHousingBubble-HowILearnedToLoveSocal
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22 May, 2008| housingblogs |
Comments (0) @ 22:19
- S&P Cuts Ratings of Prime-Jumbo Mortgage Bonds
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From Bloomberg: S&P Cuts, Reviews $6 Billion of Prime-Jumbo Mortgage Bonds (no link yet) Standard & Poor’s cut or threatened to cut the ratings on almost $6 billion of securities backed by prime “jumbo” mortgages …Ratings on 125 classes of [prime-jumbo] bonds created in the first half of 2007 … were downgraded … Ratings on 156 classes were put under review. … Ninety percent of the securities put under review are AAA rated ……
Original Source
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22 May, 2008| housingblogs |
Comments (0) @ 21:48
- George Carlin on houses and "stuff"
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I always loved this routine. Probably had an impact on my life. Thanks HP’ers for reminding me. F*cking classic.
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Original Source
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22 May, 2008| housingblogs |
Comments (0) @ 21:20
- Public speaks on Lighthouse plan
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Feedback was mostly positive from the 200 people packed into Hempstead Town Hall Thursday for the first public hearing on the redevelopment of 150 acres around Nassau Coliseum in Uniondale.
Lighthouse Group leaders Scott Rechler and Charles Wang sat before the Hempstead Town Board and listened to comments from civic groups and local chambers about traffic congestion and diversity of housing stock to be offered in the Lighthouse project.
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Original Source: spacedoutli.wordpress.com
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22 May, 2008| housingblogs |
Comments (0) @ 20:41
- Commerce takes a Portion
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Commerce Bank recently paid $2.35 million for a 1.5-acre property on Portion Road in Ronkonkoma.
The bank plans to construct a 4,000 square-foot branch with three drive-through windows, according to Roger Delisle and Chris Nicholson of Island Associates in Smithtown. Delisle and Nicholson brokered the deal.
Local civic leaders opposed the development of the parcel, which is one reason it took nearly three years to gain approvals from the town. Commerce will begin construction within the next three months, according to the brokers.
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Original Source: spacedoutli.wordpress.com
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22 May, 2008| housingblogs |
Comments (0) @ 20:38
- 20% Lost In The Woods
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House of Fire — Alice Cooper
The V…
Original Source: www.irvinehousingblog.com
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22 May, 2008| housingblogs |
Comments (0) @ 20:30
- Buyer of Rep. Laura Richardson’s house: She "walked away"
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The Wall Street Journal quotes the buyer of U.S. Rep. Laura Richardson’s Sacramento house as saying she walked away from the house, and can have it back if she wants it — for the same price she paid for it in 2007.
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Original Source
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22 May, 2008| housingblogs |
Comments (0) @ 20:23
- E-Loan Rates on May 22, 2008 for NM
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Best mortgage rates for May 22, 2008 in New Mexico…
Original Source: feeds.feedburner.com/TaosRealEstate
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22 May, 2008| housingblogs |
Comments (0) @ 20:19
- Taos Center for the Arts - May 22, 2008
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TAOS CENTER FOR THE ARTS…
Original Source: origin.ih.constantcontact.com
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22 May, 2008| housingblogs |
Comments (0) @ 19:42
- Surprise, Surprise Alt-A and Subprime Delinquencies are…UP
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Reuters has the 411 on mortgage repayment and the results shouldn’t surprise anyone. Alt-A (your good credit no income) loans and subprime (bad credit, not-so-much income) loan repayments are slowing and delinquencies are rising.
No surprise either that the 2007 vintage of subprime mortgages is the worst on record as those that got in last are giving up first. Little to gain, little to lose.
From R…
Original Source: feeds.feedburner.com/typepad
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22 May, 2008| housingblogs |
Comments (0) @ 19:42
- [Curbed] Three Cents Worth: Manhattan Ebb & Flow
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Had to dust off my chart tools and re-visit Three Cents Worth, my erratic semi-regular but too infrequent posts on Curbed. This week I go tidal on listings and sales.
Click to view post….
Original Source: matrix.millersamuel.com
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22 May, 2008| housingblogs |
Comments (0) @ 19:08
- Reverse mortgages: Be wary
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Last year, borrowers took out more than 132,000 reverse mortgages - 50% more than the year before and almost 10 times as many as five years ago. Such loans, as you may already know, allow you to draw down your home equity if you’re 62 or older without repaying it as long as you stay in your house.
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Original Source
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22 May, 2008| housingblogs |
Comments (0) @ 18:51
- Contractors & Tradesmen APB: what’s going on in the trenches?
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Speaking of economics, I’d like to hear from people who are in the trades: small general contractors, electricians, plumbers, siders, framers, painters, masonry/hardscapes, landscapers, flooring installers, heat/HVAC contractors, small remodeling contractors, etc..
I spoke recently with a client of ours who is an electrician and the individual mentioned that there were recent incidences of builders either not paying or delaying payment for services.
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Original Source: feeds.feedburner.com/SeattleBubble
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22 May, 2008| housingblogs |
Comments (0) @ 18:28
- National House Price Indices: OFHEO vs. Case-Shiller Graphs
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Click on graph for larger image.The first graph shows the OFHEO Purchase Only Index (through Q1 2008) vs. the Case-Shiller National Index (through Q4 2007). (Q1 2000 = 100 for both indices)….
Original Source: bp0.blogger.com/_pMscxxELHEg/SDWsmK_dmR
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22 May, 2008| housingblogs |
Comments (0) @ 18:23
- HP’er comment of the year - "I think there is more to life than having more and better "stuff" than other people"
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I couldn’t have said it better myself…This whole thing is just really sad to me.Some of the people here have legitimate things to say, otehrs are just insulting one another and bragging about their “success”. What is our definition of success? Does it just have to do with the bottom line?Yes, money is important, but what about family, friends, travel, having time to enjoy life? I know I sound totally corny to many of you, but I…
Original Source
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22 May, 2008| housingblogs |
Comments (0) @ 17:21
- S&P And The Staggering “New” Home Foreclosure Numbers
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Posted By:Diana OlickDelinquencies for Alt-A mortgages (these are the low-doc, no-doc loans where you don’t have to prove your income, etc.) rated between 2005 and 2007 are continuing to climb, with total delinquencies now as high as 17 percent in some cases. That’s 6 percentage points higher than previous estimates. …
Original Source: media.cnbc.com
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22 May, 2008| housingblogs |
Comments (0) @ 17:08
- S&P And The Staggering New Foreclosure Numbers
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Posted By:Diana OlickDelinquencies for Alt-A mortgages (these are the low-doc, no-doc loans where you don’t have to prove your income, etc.) rated between 2005 and 2007 are continuing to climb, with total delinquencies now as high as 17 percent in some cases. That’s 6 percentage points higher than previous estimates. …
Original Source: media.cnbc.com
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22 May, 2008| housingblogs |
Comments (0) @ 17:08