Disqus - Latest Comments for anon9

Re: Poll Results: 421 Marine

anon9 — Mon, 02 Nov 2009 12:51:08 -0000

What are the loan implications for purchasing a duplex? If you are planning on living in one of the two units, can you get a standard loan as if it were a SFR?

Re: Open Forum (10/26- )

anon9 — Fri, 30 Oct 2009 23:11:11 -0000

Man, nine bank failures today. Including the third biggest one to fail since the credit crisis started.

five of the last six market days down.

Are the green shoots turning out to be something that you can buy in an LA "dispensary"?

Re: Open Forum (10/26- )

anon9 — Thu, 29 Oct 2009 14:15:46 -0000

It is currently 150-K for couples.

It's not a done deal to pass both the house and the senate, there is reported to be "vote trading" in the background.....republicans are said to be the primary supporters of this, and they are trying to ride it on the unemployment extension being pushed by the democrats.

Regardless, this is a piece of pandering nonsense.

Re: October Successes

anon9 — Thu, 22 Oct 2009 17:21:44 -0000

The GAO has floated two ideas for helping to balance the budget.

One of them is to reduce the largest tax deduction, which is the mortgage deduction.

The proposal is to eliminate the mortgage deduction, starting in 2012.

It would not be very popular, but you can bet if we are still running 1-T dollar per year deficits a couple of years from now (~4-K/person), you can bet that their will be massive pressure to raise taxes in some manner.

For context, Great Britain did exactly this a couple of decades ago. They phased out the deduction over a period of 10 years, which seems more reasonable than "cold turkey".

Re: Open Forum (10/7- )

anon9 — Thu, 15 Oct 2009 11:59:19 -0000

"New jobless claims drop unexpectedly to 514,000"

You do realize that 200,000 jobs have to be added to keep up with people entering the job market, don't you?

Only in "fair-and-balanced" land is 514,000 lost jobs a good sign.

Re: Open Forum (10/7- )

anon9 — Thu, 15 Oct 2009 11:28:25 -0000

Lenny didn't think one house I pointed out on Aviation was poor value. Here is a similar property, in a significantly better location, for identical list price:

The Aviation listing:
http://www.redfin.com/CA/Ma...

The Magnolia Listing:

http://www.redfin.com/CA/Ma...

Which one do you think will sell first?

It also shows what happens when the builders leave the market. Lot values probably drop more than anything else.

Re: Median Movement, 2007-09

anon9 — Wed, 14 Oct 2009 15:20:07 -0000

Lenny, you are really too weird.

Which of my comments do you consider to be "unfounded accusations"?

Re: Median Movement, 2007-09

anon9 — Wed, 14 Oct 2009 12:55:17 -0000

Lenny:

I do not wish misfortune on anyone. I am simply pointing out what I feel to be a listing of dubious value.

Perhaps you think this is fairly priced? Why don't you stick to that debate, rather than namecalling.

Re: Median Movement, 2007-09

anon9 — Wed, 14 Oct 2009 00:46:52 -0000

Of course, this "gem" disagrees with the 2003 hypothesis for bad locations. Unless you consider easy access to Aviation an asset.

http://www.redfin.com/CA/Ma...

Marked up 70 K from it's 2008 aquisition price. It was fixed up. But c'mon, it's only 900 sq ft. How much could that have cost? And why bother? And 734$/sq ft for aviation? I also like the staged front yard (facing aviation) with the classy resin chairs.

This quote from the listing is the best: " a 952 square foot gem."

Re: Median Movement, 2007-09

anon9 — Tue, 13 Oct 2009 13:53:18 -0000

Thanks, Huggy. Excellent post.

Sounds like you are saying "price it right and it will sell". And for that, location matters much more than it did in prior years.

Re: Data Week

anon9 — Mon, 12 Oct 2009 17:28:57 -0000

Just to you, Lenny. And not until you had first engaged in name-calling.

Let's call it a day, shall we?

Re: Data Week

anon9 — Mon, 12 Oct 2009 16:41:25 -0000

Huggy, your class warfare nonsense is getting old.

Here's a question for you. A lot of the folks that I kinow in MB bought in the mid-90's. Before buying in MB, they rented.

Here's the question. Are these people "clueless" and engaging in "class warfare" because they rented at that particular time?

I've gotten the anecdotes from them. It is one of the reason's that I didn't buy when I first relocated to MB. They recognized a few years ago that it was a bubble, and things would drop. Several HOMEOWNERS cautioned me to wait. Was that "anti-MB" on their part? The majority of people are still split on whether things are at the bottom or not.

If we accept that S. CA housing is cyclical, isn't stating that "house prices will fall" once we've had a 300% run-up kind of like simply observing the tide will go out? If someone said the tide is going out, would you call it "lunar warfare" and "inter-planetary propaganda" in much the same spirt that you debate on this blog?

The truth of the matter is that quite the opposite is true. You are attempting to stigmatize people into hopping off the fence by denigrating others. Look at the above post's......two posters (lenny and huggy) are resorting to namecalling. It's clear who has a lack of class.

Re: Open Forum (10/7- )

anon9 — Fri, 09 Oct 2009 23:51:19 -0000

Either Lenny is MrsCleaver, or we've now got THREE shorewood tolls.

Re: Open Forum (10/7- )

anon9 — Fri, 09 Oct 2009 00:25:32 -0000

I'd say that if I've baited you, there is no reason to drag others in to it. Melissa seems pretty reasonable, no need to give her a hard time.

If I've got the wrong idea, do tell.

Re: Open Forum (10/7- )

anon9 — Thu, 08 Oct 2009 23:00:55 -0000

C'mon Lenny. Admit that you've got a spec house that you can't sell, and that is the loan that you lied on.

I know, it makes you feel better to lash out. Just give it up. A little prozac will make you feel better.

Loser.

Re: Open Forum (10/7- )

anon9 — Wed, 07 Oct 2009 23:45:49 -0000

Still on the boxing metaphors, are we lenny-the-loan-app-liar?

Not to sound like Huggy, but "you sound obsessed with me". I'd leave it alone if I were you. Not healthy for your psyche.

Re: Open Forum (10/7- )

anon9 — Wed, 07 Oct 2009 21:14:19 -0000

How about some Q4 predictions?

I'm seeing a couple of new listings every day coming up......is that normal this time of the year?

Re: Open Forum (10/7- )

anon9 — Wed, 07 Oct 2009 11:48:49 -0000

It's not surprising. Builder demand is almost entirely out of the market.....a few years ago, teaddowns wouldn't even hit the MLS.

Now the demand for these is from someone that wants to rehab/live in them, for the most part.

Re: MB Market Update for 9/30/09

anon9 — Tue, 06 Oct 2009 12:21:03 -0000

Using 452 35th place for the calculation, which is clearly sold at lot value, you get 14.4-M.

There is 43,560 sq ft in an acre. You can calculate yourself for some closed sales which look like "lot sales" and decide for yourself using the formula:

Acre price = "lot sale price" x 43,560 / "listing square feet".

Have fun. They say that the land price is the most illiquid and corrects the most during a downturn.

Re: Why Wait for the NOD?

anon9 — Tue, 06 Oct 2009 01:31:01 -0000

OK, not trying to be intimidating here, but you're referring to me as a "boxer" after I call you out for disparaging others.

I'm guessing you got bullied in school or something. I can't help it if you were a pencil necked dweeb back in school. That's your row to till.

Now, come on. Why do you think of yourself as a "liar"??

Re: Open Forum (9/22- )

anon9 — Tue, 06 Oct 2009 01:22:35 -0000

One part left out of your analysis.

They want reliable people with "skin in the game" in case prices drop another 20%.

It's not just borrow at 0% and lend at 5.6. Doesn't do a lot of good if the buyer's miss a year's worth of payments and walk away. And then foreclosed.

It's not unecessarily tight. It's damage control until things improve.

Re: Open Forum (9/22- )

anon9 — Tue, 06 Oct 2009 00:12:32 -0000

Huggy said: "small business owners who are aggressive on their tax returns or who pay themselves a modest salary."

ie, those folks that fudge their tax returns, or deduct anything that moves so that their taxable income is low.

I've got lot's of friends with their own business......you want to claim a bunch of your living expenses, your SUV and your trips to disneyland as a business junket, the side effect is your income appears lower.

Sometimes its hard to play both sides of the street at the same time.

Re: Why Wait for the NOD?

anon9 — Mon, 05 Oct 2009 23:57:27 -0000

Jake LaMotta? That's funny. I've never even been to New York.

But I do think you'll feel better confessioning the transgressions that cause you to feel compelled to refer to yourself as the "loan app liar" in you posts.

C'mon. We can all have an Oprah moment. You'll feel better about yourself.

Re: Why Wait for the NOD?

anon9 — Mon, 05 Oct 2009 22:32:17 -0000

So, "lenny the loan app liar". I'm thinking you want to tell us something by your name.

You don't have to hide. We're all anonymous here.

You lie on your loan application? Or are you a fradulent loan broker?

Re: Open Forum (9/22- )

anon9 — Mon, 05 Oct 2009 18:05:37 -0000

I think the jumbo's now need full documentation going back two years.

This knocks out a lot of "self-employed" people who have trouble documenting their income and have been doing stated income for the last few years.

The standards now are probably not a bad thing....if you've got the income, and can prove it, it looks like they will give you the loan. Provided you can do the downpayment, have reserves, and have the credit.