Housing Blogs » 2008

Housing Blogs
housing, mortgages…

RSS | Visita nuestra web

As I walked to school a few weeks ago I passed this…If creativity generates sales then Connie is a busy woman. Connie, if you read the blog please explain… …
Original Source

30 June, 2008| housingblogs | Comments (0) @ 20:04

Wachovia quits offering risky loan option

Read full story for latest details.
…
Original Source

30 June, 2008| housingblogs | Comments (0) @ 20:02

Value No Longer Really Matters

Some housing bubble News from Wall Street and Washington. Bloomberg, “Taylor Wimpey Plc, reeling from the worst U.K. housing slump in 30 years, will write down 660 million pounds ($1.3 billion) of real estate. Taylor Wimpey will write down U.K. land and projects by 550 million pounds. That would be an industry record, according to Merrill Lynch data. Further charges of 70 million pounds and 40 million pounds will be made for sites in the U.S. and Spain.”
…
Original Source

30 June, 2008| housingblogs | Comments (0) @ 19:54

Wachovia Waives Refi Fees for Pick-A-Pay, Discontinues NegAm Products

Note: Pick-A-Pay is Wachovia’s Option ARM (adjustable rate mortgage) product with a NegAm (negative amortization) option.

Press Release: Wachovia Corporation Announces Assistance for Pick-A-Pay Customers Effectively immediately, Wachovia is waiving all prepayment fees associated with its Pick-A-Pay mortgage to allow customers complete flexibility in their home financing decisions.
……
Original Source

30 June, 2008| housingblogs | Comments (0) @ 19:24

Local Banks Slammed by Housing Bust

From today’s Everett Herald: Housing slump hits local banks hard
Low interest rates, the loss of the home construction boom and investor pessimism all are weighing down on bank stocks, dealing a big blow to all three of the local banks traded on Wall Street.
Lynnwood’s City Bank, along with Frontier Financial and Cascade Financial — both Everett-based banking firms — have seen their share prices decline by more than half in the past year.
…
Original Source

30 June, 2008| housingblogs | Comments (0) @ 18:30

Why housing costs are rising. Yes, rising.

I’m fully aware that, in general, home prices are falling sharply. But the recent run-up in mortgage rates is driving up the cost of homeownership (Work with me; one sign of intelligence is the ability to hold in your head two opposing ideas). …
Original Source

30 June, 2008| housingblogs | Comments (0) @ 18:15

FW: OPENING PARTY FOR KIMBERLY WEBBER’S NEW PAINTINGS IN TAOS, NM!!!

Please join us for the opening reception of “The Sight”, new oil paintings
by Taos artist Kimberly Webber. The opening will be held at Old World Fine
Art Gallery, 133 Kit Carson Road, Taos, New Mexico, 87571, USA, on Saturday,
August 2nd from 5 to 8 p.m. The new works can be viewed at
w…
Original Source

30 June, 2008| housingblogs | Comments (0) @ 18:05

Would you pay $1,300/mo. to lease a car? You already do.

Off topic but irresistible to those following the saga of U.S. Rep. Laura Richardson (pictured), the triple-default and single-foreclosure Democrat of Long Beach: the car she leases for official use is the most expensive lease of any member of the House of Representatives, …
Original Source

30 June, 2008| housingblogs | Comments (0) @ 17:12

We should declare independence

The Republic of South-East England? A low tax haven comprising of London and the surrounding counties? Any region with a pu…
Original Source

30 June, 2008| housingblogs | Comments (0) @ 17:07

Unemployment Benefits Extended

An extension of unemployment benefits for 13 weeks was included in the war funding bill signed by President Bush today.

This extension covers workers who used all their unemployment benefits between November 2006 and March 2009. As I noted last week, some of these people will reapply for benefits, probably pushing weekly claims over 400K per week once the benefits become available. (Typically an…
Original Source

30 June, 2008| housingblogs | Comments (0) @ 17:05

Isn’t it kinda odd that Wall Street and America would be BETTER off if Ben Bernanke and the Fed would actually RAISE rates?

You have to feel for Bernanke. It must suck waking up every morning to this mess.That said, it’s time for him to man-up and RAISE THE F*CKING RATE!And he knows it.And people paying $5 a gallon (should) know it….
Original Source

30 June, 2008| housingblogs | Comments (0) @ 16:32

Why Buy Now When It May Go Down More?

The Sun News reports from New Mexico. “Kevin Romney has been trying to sell his house in Las Cruces since 2007. He believes he would have had an easier time moving the property had he put it on the market a little sooner. ‘We’ve had it on the market several times for about a year,’ the 54-year-old Las Crucen said. ‘We started selling ours right when everything was really starting to dip. We just got a late start on it.’”
…
Original Source

30 June, 2008| housingblogs | Comments (0) @ 16:31

5 celebrity foreclosures

The effects of the foreclosure crisis are rippling throughout the country - and even the rich and famous are not immune.
…
Original Source

30 June, 2008| housingblogs | Comments (0) @ 16:16

Oceanside REO: Back to 2002 / 2003 Prices

Here is another Countrywide REO in Oceanside offered at $359,900 (from Jim the Realtor). This house sold for $469,000 in early 2004, and is now being offered at late 2002, early 2003 prices. (see graph at bottom of this post)

Unlike the low end home discussed last month, these mid-range homes are not as attractive to cash flow oriented investors. Jim says the rent would be $2000 per month (maybe…
Original Source

30 June, 2008| housingblogs | Comments (0) @ 15:43

Productivity down, unit labour costs up - the recipe for unemployment

Very worrying, that is the only way to describe first quarter labour market developments. Productivity fall dramatically, while unit labour costs surged. The two indicators point to a future rise in unemployment. Labour costs are increasing, while the amount workers produce is sliding. Slowing productivity suggests that output is slowing, but the number of workers producing that output has remained largely unchanged. In other words, firms have too many workers. …
Original Source

30 June, 2008| housingblogs | Comments (0) @ 15:36

IndyMac in deep trouble indeed, at $.62/share

Shares of Pasadena-based IndyMac slipped by 19 cents today, which would be no big deal for most stocks. But IndyMac is a penny stock these days, so a loss of less than two dimes a share wiped out roughly a quarter of its value. It closed at 62 cents a share.
…
Original Source: feeds.latimes.com

30 June, 2008| housingblogs | Comments (0) @ 15:20

Desperate consumers pile on the credit card debt

In May, consumers added ?556 million to their credit card balances, the highest amount for a year. The May numbers have the air of desperation about them. Given that household savings are at all time lows, the May spendfest looks like one last sad fling before reality kicks in and people finally get the message that it is time to stop spending….
Original Source

30 June, 2008| housingblogs | Comments (0) @ 15:17

Home Swapping: Barter in a Bad Market

Posted By:Diana OlickThe idea is that instead of trying to sell your home in a down market, waiting perhaps months and months and lowering the price, thereby lowering your potential buying power for the next home, you simply find someone who has something you want, and you trade. …
Original Source

30 June, 2008| housingblogs | Comments (0) @ 15:13

[Attitude Forecast Flies] Warm & Fuzzy Logic By Gloomy Or Happy Shiny People

Hey, admit it - most of us are confused about the state of the economy and housing. The increasing number of solutions and policy provided by government and through politics seem to make matters worse. There is more information out there than ever before.

In fact, it’s enough to accept the idea that ignorance really is bliss. J…
Original Source

30 June, 2008| housingblogs | Comments (0) @ 15:11

Reminding the Government That a Lot of Things Flow Downhill

…
Original Source