Comments on: The Real Estate Market: Don’t Celebrate Housing’s Recent Uptick Yet http://www.investmentu.com/2009/August/real-estate-market.html Investment Advice and Investment Research with a Contrarian Point of View Thu, 24 May 2012 17:20:29 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Russ http://www.investmentu.com/2009/August/real-estate-market.html#comment-24685 Russ Mon, 21 Sep 2009 05:01:19 +0000 http://www.investmentu.com/?p=10170#comment-24685 Tim seems to be doing his usual job of missing the point. Maybe if he takes the time to visit Chica again, they can point out to him again what's happening with OUR national real estate market & the great derivitives undergirding all the prime realestate we thought we owned going up in price to the moon etc.? Tim, if you go to China, please don't forget to ask them if they could also bail out your little piece of the real estate pie and, if that doesn't work, maybe Dr. Obama/Cousin Bernanke will give you a bailout handout to sustain you, until your home reappreciates itself beyound the price you originally paid, if you upkeep it and keep it painted etc.? Just don't let anyone else in on any of your dealings. No major national bailouts; just a little Timmy bailout can change your story here. Maybe Cousin Ben can inflate the price of your home back up against this major trend? He'll perhaps try anything once, in order to try and help his major friends won't he? Tim seems to be doing his usual job of missing the point. Maybe if he takes the time to visit Chica again, they can point out to him again what’s happening with OUR national real estate market & the great derivitives undergirding all the prime realestate we thought we owned going up in price to the moon etc.? Tim, if you go to China, please don’t forget to ask them if they could also bail out your little piece of the real estate pie and, if that doesn’t work, maybe Dr. Obama/Cousin Bernanke will give you a bailout handout to sustain you, until your home reappreciates itself beyound the price you originally paid, if you upkeep it and keep it painted etc.? Just don’t let anyone else in on any of your dealings. No major national bailouts; just a little Timmy bailout can change your story here. Maybe Cousin Ben can inflate the price of your home back up against this major trend? He’ll perhaps try anything once, in order to try and help his major friends won’t he?

]]> By: Coldwell Banker http://www.investmentu.com/2009/August/real-estate-market.html#comment-17909 Coldwell Banker Tue, 04 Aug 2009 14:17:24 +0000 http://www.investmentu.com/?p=10170#comment-17909 Good article! A helpful tool for anyone in the process of buying a house is a mortgage rate calculator. This can be found here, http://www.cb-hb.com/mortCalc/calc.html and be added to any site. I hope this is a helpful tool for people! Good article! A helpful tool for anyone in the process of buying a house is a mortgage rate calculator. This can be found here, http://www.cb-hb.com/mortCalc/calc.html and be added to any site. I hope this is a helpful tool for people!

]]> By: LOWELL MEYER http://www.investmentu.com/2009/August/real-estate-market.html#comment-17827 LOWELL MEYER Tue, 04 Aug 2009 05:05:35 +0000 http://www.investmentu.com/?p=10170#comment-17827 another factor .....50% of sales are by investors which means many of those homes will be back on the market soon...they sure are not all going to be rentals especially if values do not come back up....and for values coming back up soon...not sure they will happen unless we go back to lier loans...or income goes up the the lier loan amounts which I doubt either of these will happen in the next several yrs. another factor …..50% of sales are by investors which means many of those homes will be back on the market soon…they sure are not all going to be rentals especially if values do not come back up….and for values coming back up soon…not sure they will happen unless we go back to lier loans…or income goes up the the lier loan amounts which I doubt either of these will happen in the next several yrs.

]]> By: Ted Osmundson http://www.investmentu.com/2009/August/real-estate-market.html#comment-17782 Ted Osmundson Mon, 03 Aug 2009 23:50:28 +0000 http://www.investmentu.com/?p=10170#comment-17782 It appears that many of the foreclosed properties in southern California are not listed on the MLS. It seems that prices are being driven upwards by inventory being held back and off the market. We are seeing multiple offers driving the prices up by as much as 10% plus while many homes sit vacant with no sign in the front yard indicating the property is for sale. All of this is going on while new homes are being built in the same area just north of Temecula. This area grew rapidly from 2001 to 2005. Our last howm went from 100K in 1998 to 350K in 2004. It appears that many of the foreclosed properties in southern California are not listed on the MLS. It seems that prices are being driven upwards by inventory being held back and off the market. We are seeing multiple offers driving the prices up by as much as 10% plus while many homes sit vacant with no sign in the front yard indicating the property is for sale. All of this is going on while new homes are being built in the same area just north of Temecula. This area grew rapidly from 2001 to 2005. Our last howm went from 100K in 1998 to 350K in 2004.

]]> By: Veronica Gray http://www.investmentu.com/2009/August/real-estate-market.html#comment-17743 Veronica Gray Mon, 03 Aug 2009 20:24:27 +0000 http://www.investmentu.com/?p=10170#comment-17743 Thank you Martin, It is nice to hear "The REst of the Story" I thoroughly enjoyed your article. Thank you Oxford Subscriber Veronica Gray Thank you Martin, It is nice to hear “The REst of the Story” I thoroughly enjoyed your article.
Thank you
Oxford Subscriber
Veronica Gray

]]> By: Michael Wilson http://www.investmentu.com/2009/August/real-estate-market.html#comment-17730 Michael Wilson Mon, 03 Aug 2009 18:38:49 +0000 http://www.investmentu.com/?p=10170#comment-17730 A very perceptive article and I agree with the observations in Leon Danforth's remarks. We are experiencing a similar suggested recovery, or decrease in attrition, in house prices here in the UK, with commentators choosing to ignore the widespread incidence of mortgages technically in default and the pressure brought to bear on lenders by the Government not to initiate recovery proceedings. In the UK, one cannot simply deposit the keys to the house with the lender and walk away - you could be pursued through the courts. In any case, is it necessarily "a good thing" if house prices begin to rise? In so far as it saves currently over-committed people, yes. But prices are surely just adjusting to the norm of affordability, which was lost in a flood of easy and cheap - not to mention inappropriate, in too many cases - credit. A very perceptive article and I agree with the observations in Leon Danforth’s remarks. We are experiencing a similar suggested recovery, or decrease in attrition, in house prices here in the UK, with commentators choosing to ignore the widespread incidence of mortgages technically in default and the pressure brought to bear on lenders by the Government not to initiate recovery proceedings. In the UK, one cannot simply deposit the keys to the house with the lender and walk away – you could be pursued through the courts. In any case, is it necessarily “a good thing” if house prices begin to rise? In so far as it saves currently over-committed people, yes. But prices are surely just adjusting to the norm of affordability, which was lost in a flood of easy and cheap – not to mention inappropriate, in too many cases – credit.

]]> By: j ottowitz http://www.investmentu.com/2009/August/real-estate-market.html#comment-17723 j ottowitz Mon, 03 Aug 2009 17:48:17 +0000 http://www.investmentu.com/?p=10170#comment-17723 I would say you are telling a lot more of the truth than the so called "official position." I would equate the Oxford position on housing not too much differently than the official report on national unemployment. Govt. position is approx. 10% while most informed people know it is much closer to probably 15%. In addition, many professional people may have gotten another job, but not in their field or diminished remuneration. Amen I would say you are telling a lot more of the truth than the so called “official position.” I would equate the Oxford position on housing not too much differently than the official report on national unemployment. Govt. position is approx. 10% while most informed people know it is much closer to probably 15%. In addition, many professional people may have gotten another job,
but not in their field or diminished remuneration. Amen

]]> By: Leon Danforth http://www.investmentu.com/2009/August/real-estate-market.html#comment-17718 Leon Danforth Mon, 03 Aug 2009 17:21:08 +0000 http://www.investmentu.com/?p=10170#comment-17718 Mr. Denholm's view of the housing market hits several notes of interest. In fact, several tiers of the market have notably deficient inventory after the recent spate of REO's and short sales have been bought up and comparably bargain prices. One aspect of the uncertainty in the market he did not see, however, is the worrisome fact that lenders still have significant numbers of distressed mortgages on their books that have not been sent into foreclosure due to the Fed's pressure (through FHLMC/FNMA) not to release them. When those loans are foreclosed on and they become REO's, the lenders will have to unload them into the market, swamping the market again and driving down prices. This will effectively terrorize the market, yet again! Mr. Denholm’s view of the housing market hits several notes of interest. In fact, several tiers of the market have notably deficient inventory after the recent spate of REO’s and short sales have been bought up and comparably bargain prices. One aspect of the uncertainty in the market he did not see, however, is the worrisome fact that lenders still have significant numbers of distressed mortgages on their books that have not been sent into foreclosure due to the Fed’s pressure (through FHLMC/FNMA) not to release them. When those loans are foreclosed on and they become REO’s, the lenders will have to unload them into the market, swamping the market again and driving down prices. This will effectively terrorize the market, yet again!

]]> By: Margaret G. http://www.investmentu.com/2009/August/real-estate-market.html#comment-17714 Margaret G. Mon, 03 Aug 2009 16:55:26 +0000 http://www.investmentu.com/?p=10170#comment-17714 I agree. Some states, like Ohio, Michigan, Indiana and Kansas have seen tremendous declines in value. Investors from California have purchased homes in those states for $0.10-$0.30 on the dollar! No wonder they have sales. Try doing business on the west coast. Unless the property is a short sale or REO, there is no real estate business. I know-I am a 22-year veteran real estate broker. We are slowly getting there. The decline is not over! I also agree with your take on the job market. Unless people get back to work, there will be no real recovery! I agree. Some states, like Ohio, Michigan, Indiana and Kansas have seen tremendous declines in value. Investors from California have purchased homes in those states for $0.10-$0.30 on the dollar! No wonder they have sales.
Try doing business on the west coast. Unless the property is a short sale or REO, there is no real estate business. I know-I am a 22-year veteran real estate broker. We are slowly getting there. The decline is not over!
I also agree with your take on the job market. Unless people get back to work, there will be no real recovery!

]]> By: Dan Gayman http://www.investmentu.com/2009/August/real-estate-market.html#comment-17710 Dan Gayman Mon, 03 Aug 2009 16:13:03 +0000 http://www.investmentu.com/?p=10170#comment-17710 Dear Martin, Good for you! Of all the so called statistics, housing is the bottom of the barrel in terms of reliability. I have followed the housing debacle closely for years, and predicted the present mess several years in advance of the collapse. It is past time some basic honesty show up in this critical economic segment, because until that happens not much else is going to happen with out sick economy. Dan Gayman Dear Martin,

Good for you! Of all the so called statistics, housing is the bottom of the barrel in terms of reliability. I have followed the housing debacle closely for years, and predicted the present mess several years in advance of the collapse. It is past time some basic honesty show up in this critical economic segment, because until that happens not much else is going to happen with out sick economy.

Dan Gayman

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