I've been reading anecdotal reports that sales are picking a bit for the home builders in response to steep discounts. 50% in Florida, for example. So this slight seasonally adjusted increase doesn't surprise me.
I expect there are a lot of people getting what they believe are bargains. What remains to be seen is if better bargains will materialize down the road.
Given the status of inventory, I think the best deals in housing are well down the road.
Appropos this and the last few posts, CR, did you see Mish's post from last night? The NAR proposals for "regulatory reform" could be used by the CDC on their list of mechanisms for inducing vomiting. As you've said before, this isn't a Democratic vs. Republican or liberal vs. conservative issue. This is all at the level of Reality Based Community vs. Bizarroworld. As someone who has actually spent a lot of time over the years pushing for good, responsible affordable housing lending programs, bond programs, community development initiatives, etc., I find it hard to describe what it feels like to have NAR attempting to keep the commissions party going by appropriating the rhetorical cover of "affordable homeownership" to advance regulatory moves that further inflate prices and shift risk from financial institutions to vulnerable homebuyers while bailing out speculators and those poor deprived second home owners. ACK. Shakespeare had it wrong; it should have been "first we kill all the realtors."
This, I'm going to keep a printout of, in my pocket to pull out for a little relief while standing in the soup line or while eating dinner in the mess tent.
Tanta, that is why you belong behind the counter sorting socks. Can't you see that the way to make something cheaper is to increase the available demand for it? I haven't seen anything yet that a good bit of legislation can't fix.
You make it sound like it's my problem. I'm coming around to the opinion that the race is not to the swift nor the battle to the strong nor yet bread to the wise, but sorting socks happeneth to y'all.
More advice: natural daylight remains the best option for distinguishing between black and navy blue. Take it from a pro.
This question is off topic, but I need advice. What is the best tactic for low balling these sellers? Should I use the listing agent or should I go through one of the agents at their office? I've noticed when low balling the listing agent, some insist their listing is "priced right" which is BS. I know these greedy Brokers and agents want all the comission off the sale. I've done okay going directly through the listing agent, but not good enough..no deal. Any ideas or tactics?
The new home data are out, and WOW, are they wierd. Sales down 3.2% I can live with. Median price up $30K? Northeast sales down 56% in two months? I'm athinkin' we're agonna see some revisions. The inventory ratio, for what it's worth, bounced back to 7 months' sales, from 6.7.
excerpt from the Mish piece:
"The rate of subprime loan delinquencies of 60 days or more _ meaning borrowers are that far behind in their payments _ has climbed to about 8 percent, up from about 4.5 percent a year ago."
I'm wondering if the uptick in purchase applications went up (outside of seasonality possibly) because of the NARs 40 million dollar ad campaign. I mean for 40 million bucks it has to has some effect right?
that´s a very big drop in the refi index.
almost down 10%!
I've been reading anecdotal reports that sales are picking a bit for the home builders in response to steep discounts. 50% in Florida, for example. So this slight seasonally adjusted increase doesn't surprise me.
I expect there are a lot of people getting what they believe are bargains. What remains to be seen is if better bargains will materialize down the road.
Given the status of inventory, I think the best deals in housing are well down the road.
Appropos this and the last few posts, CR, did you see Mish's post from last night? The NAR proposals for "regulatory reform" could be used by the CDC on their list of mechanisms for inducing vomiting. As you've said before, this isn't a Democratic vs. Republican or liberal vs. conservative issue. This is all at the level of Reality Based Community vs. Bizarroworld. As someone who has actually spent a lot of time over the years pushing for good, responsible affordable housing lending programs, bond programs, community development initiatives, etc., I find it hard to describe what it feels like to have NAR attempting to keep the commissions party going by appropriating the rhetorical cover of "affordable homeownership" to advance regulatory moves that further inflate prices and shift risk from financial institutions to vulnerable homebuyers while bailing out speculators and those poor deprived second home owners. ACK. Shakespeare had it wrong; it should have been "first we kill all the realtors."
Mish's Global Economic Trend Analysis: Catch 22
hahaha
If I had done it, by Rob Peebles
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This, I'm going to keep a printout of, in my pocket to pull out for a little relief while standing in the soup line or while eating dinner in the mess tent.
Advice: if you get a link to Rob Peebles posted by dr. strangemoney, put the coffee cup down before you click.
"Double normal." That's where I lost it.
Tanta, that is why you belong behind the counter sorting socks. Can't you see that the way to make something cheaper is to increase the available demand for it? I haven't seen anything yet that a good bit of legislation can't fix.
You make it sound like it's my problem. I'm coming around to the opinion that the race is not to the swift nor the battle to the strong nor yet bread to the wise, but sorting socks happeneth to y'all.
More advice: natural daylight remains the best option for distinguishing between black and navy blue. Take it from a pro.
You mean there is a difference between black and navy blue? I thought they were all shades of gray?
This question is off topic, but I need advice. What is the best tactic for low balling these sellers? Should I use the listing agent or should I go through one of the agents at their office? I've noticed when low balling the listing agent, some insist their listing is "priced right" which is BS. I know these greedy Brokers and agents want all the comission off the sale. I've done okay going directly through the listing agent, but not good enough..no deal. Any ideas or tactics?
The new home data are out, and WOW, are they wierd. Sales down 3.2% I can live with. Median price up $30K? Northeast sales down 56% in two months? I'm athinkin' we're agonna see some revisions. The inventory ratio, for what it's worth, bounced back to 7 months' sales, from 6.7.
harris, obviously garbage data. Or, short term static.
BTW - the PruBear piece is 'priceless'. Thx.
excerpt from the Mish piece:
"The rate of subprime loan delinquencies of 60 days or more _ meaning borrowers are that far behind in their payments _ has climbed to about 8 percent, up from about 4.5 percent a year ago."
I'm wondering if the uptick in purchase applications went up (outside of seasonality possibly) because of the NARs 40 million dollar ad campaign. I mean for 40 million bucks it has to has some effect right?
Mortgage refinancing equates variouslenders to get lowest refinance rate available. And refinance calculators figures whether it's worth chasing a lower interest rate.
cheers
gudipudi
Mortgage Refinancing - Your #1 Home Mortgage Refinance Solution