mdporter Posted August 20, 2007 Report Share Posted August 20, 2007 Took a walk in the neighborhood today to see the status on the homes I looked at two weeks ago. The open houses from two weeks ago on the $900k properties were closed. No realtors in sight. A new place came on the market. 2700 sqf, total remodel, quite nice. It was last purchased in 1973. The county assessment on it is $100k. Asking price $1.2 million. The two realtors in it informed me that they can set me up with down payment assistance. I was tempted to ask them about liar loans to help me qualify but decided to be polite. Some new condos will be done soon in the area; my wife checked them out. $500k for 575 square feet. I saw evidence that a few more flips will be coming to market soon. It's going to be really interesting to see how these places do. Link to comment Share on other sites More sharing options...
mdporter Posted August 20, 2007 Report Share Posted August 20, 2007 A good Fleckenstein column: Central banks are stealing for the citizens Link to comment Share on other sites More sharing options...
lineup32 Posted August 20, 2007 Report Share Posted August 20, 2007 Took a walk in the neighborhood today to see the status on the homes I looked at two weeks ago. The open houses from two weeks ago on the $900k properties were closed. No realtors in sight. A new place came on the market. 2700 sqf, total remodel, quite nice. It was last purchased in 1973. The county assessment on it is $100k. Asking price $1.2 million. The two realtors in it informed me that they can set me up with down payment assistance. I was tempted to ask them about liar loans to help me qualify but decided to be polite. Some new condos will be done soon in the area; my wife checked them out. $500k for 575 square feet. I saw evidence that a few more flips will be coming to market soon. It's going to be really interesting to see how these places do. 601357[/snapback] md-what part of town you looking at? Wife and I were looking around Sonoma open houses today, always good for a laugh Link to comment Share on other sites More sharing options...
shorty Posted August 20, 2007 Report Share Posted August 20, 2007 I think I'll add to my TASR dongs again tomorrow. Aug 15 covered calls all expired worthless, will probably wait before sucking in more premium this month. That lil' shocker is poised to become widely acepted by the maSSes. The new iPod. Is that an X26 in yer pocket or are ya just happy to see me? Plus big European orders possibre. And the chart is showing a clear three-wave correction into a claSSic reverse Lindenberger omen with a charley horse wedgie crossover buy signal. Link to comment Share on other sites More sharing options...
shorty Posted August 20, 2007 Report Share Posted August 20, 2007 Took a walk in the neighborhood today to see the status on the homes I looked at two weeks ago. The open houses from two weeks ago on the $900k properties were closed. No realtors in sight. A new place came on the market. 2700 sqf, total remodel, quite nice. It was last purchased in 1973. The county assessment on it is? $100k. Asking price $1.2 million. The two realtors in it informed me that they can set me up with down payment assistance. I was tempted to ask them about liar loans to help me qualify but decided to be polite.? Some new condos will be done soon in the area; my wife checked them out. $500k for 575 square feet. I saw evidence that a few more flips will be coming to market soon. It's going to be really interesting to see how these places do. 601357[/snapback] md-what part of town you looking at? Wife and I were looking around Sonoma open houses today, always good for a laugh 601359[/snapback] yesturday I walked, giggled and farted my way through a crappy downtown Shank MexDiego 1012 sq ft CONdo 2br (each approx 10x11 ft) with kitchenette in living room, that's it, no closets or anything else, view of brick wall parking garage across street, $699K....taxes $655 per month, homoaners aSSociation fee $550 per month Link to comment Share on other sites More sharing options...
Sudaca Posted August 20, 2007 Report Share Posted August 20, 2007 I think I'll add to my TASR dongs again tomorrow. Aug 15 covered calls all expired worthless, will probably wait before sucking in more premium this month. That lil' shocker is poised to become widely acepted by the maSSes. The new iPod. Is that an X26 in yer pocket or are ya just happy to see me? Plus big European orders possibre. And the chart is showing a clear three-wave correction into a claSSic reverse Lindenberger omen with a charley horse wedgie crossover buy signal. 601360[/snapback] just don't stick those wires into your ears and press play, please... Link to comment Share on other sites More sharing options...
lineup32 Posted August 20, 2007 Report Share Posted August 20, 2007 ^AORD All Ordinaries 5,884.10 12:07AM ET 213.80 (3.77%) Components, Chart, More ^SSEC Shanghai Composite 4,866.07 Aug 19 209.49 (4.50%) Chart, More ^HSI Hang Seng 21,126.67 11:07PM ET 739.54 (3.63%) Components, Chart, More ^BSESN BSE 30 14,141.52 Aug 17 0.00 (0.00%) Chart, More ^JKSE Jakarta Composite 2,000.85 12:06AM ET 92.22 (4.83%) Components, Chart, More ^KLSE KLSE Composite 1,191.55 Aug 17 16.06 (1.33%) Components, Chart, More ^N225 Nikkei 225 15,940.61 11:47PM ET 666.93 (4.37%) Chart, More ^NZ50 NZSE 50 3,976.90 Aug 19 82.55 (2.12%) Components, Chart, More ^STI Straits Times 3,282.76 12:07AM ET 152.05 (4.86%) Components, Chart, More ^KS11 Seoul Composite 1,725.66 12:07AM ET 87.59 (5.35%) Components, Chart, More ^TWII Taiwan Weighted 8,498.90 12:07AM ET 408.61 (5.05%) Chart, More HEADLINES Change Display [ hide $$ edit ] Link to comment Share on other sites More sharing options...
Black Prince Posted August 20, 2007 Report Share Posted August 20, 2007 Sudaca were you near the earthquake? Link to comment Share on other sites More sharing options...
Brisbane Bear Posted August 20, 2007 Report Share Posted August 20, 2007 I watched an interesting show on cable yesterday. Million dollar listing. Reality show that follows some real estate agents around Malibu trying to sell houses. You have a different system to ours. The sellers/buyers bid and counterbid,then they do an inspection and ask for 'credits' depending on the various flaws/faults in the property. Anyway,as with all these type programs the prices are beyond ridiculous. One women wanted $2.9 million for a very average house high on the hill in Malibu. She was from Tennesee and they said that a similar house there would be worth $250k. I don't know how old the show was but I bet she would give anything to be able to accept the original offer of $2.3 million. I wish someone would do a follow up show about all these folks who are lamenting not taking boom time offers. Now that would make compelling TV... Link to comment Share on other sites More sharing options...
Whadda I Do Whadda I Do Posted August 20, 2007 Report Share Posted August 20, 2007 The cattle are being herded in the right direction according to plan. Unfortunately I don't know what that plan is except the part about making money. The rating agency says, "Yeah, we ran the model on that basket of debt and projected it out 6 months, looked good to us, stamped it AAA." Comes back last week for review and now they downgrade it. The holder has to sell to keep it's own credit rating above the threshold. The banking side tells the rating agency, "We shorted that holder the day they bought it." What a racket. Then the setup by President and Poole with 'standard deviations' in play no worries then pull the rug out from under the shorts on Friday. It's going to be hard to refrain from buying into the markets during the next snake oil show. Link to comment Share on other sites More sharing options...
Sudaca Posted August 20, 2007 Report Share Posted August 20, 2007 Sudaca were you near the earthquake? 601366[/snapback] I live about 150 miles from the center, but when it hit, I was 700 miles to the north, on vacation, and just got back in a few hours ago. I felt it very faintly, but the tsunami scare was a bit freaky, since I was staying at a beach hut about 30 meters from the sea. I spent the first night halfway up the hills just in case. Just finished putting some posters and books back up on the shelves, but no major damages thankfully. Sadly, towns a couple of hours south of here got hit really bad, and the aftershocks and tremors have continued until today. I'm not sure I want to sleep here tonight to be honest. I live in one of the top floors of the one of the highest buildings in the city (how's that for stupid?). Now I know why it was relatively cheap . Link to comment Share on other sites More sharing options...
Sudaca Posted August 20, 2007 Report Share Posted August 20, 2007 ^AORD All Ordinaries 5,884.10 12:07AM ET 213.80 (3.77%) Components, Chart, More ^SSEC Shanghai Composite 4,866.07 Aug 19 209.49 (4.50%) Chart, More ^HSI Hang Seng 21,126.67 11:07PM ET 739.54 (3.63%) Components, Chart, More ^BSESN BSE 30 14,141.52 Aug 17 0.00 (0.00%) Chart, More ^JKSE Jakarta Composite 2,000.85 12:06AM ET 92.22 (4.83%) Components, Chart, More ^KLSE KLSE Composite 1,191.55 Aug 17 16.06 (1.33%) Components, Chart, More ^N225 Nikkei 225 15,940.61 11:47PM ET 666.93 (4.37%) Chart, More ^NZ50 NZSE 50 3,976.90 Aug 19 82.55 (2.12%) Components, Chart, More ^STI Straits Times 3,282.76 12:07AM ET 152.05 (4.86%) Components, Chart, More ^KS11 Seoul Composite 1,725.66 12:07AM ET 87.59 (5.35%) Components, Chart, More ^TWII Taiwan Weighted 8,498.90 12:07AM ET 408.61 (5.05%) Chart, More HEADLINES Change Display [ hide $$ edit ] 601365[/snapback] Is that a lot? Link to comment Share on other sites More sharing options...
LeeWhee Posted August 20, 2007 Report Share Posted August 20, 2007 ^AORD All Ordinaries 5,884.10 12:07AM ET? 213.80 (3.77%) Components, Chart, More ^SSEC Shanghai Composite 4,866.07 Aug 19? 209.49 (4.50%) Chart, More ^HSI Hang Seng 21,126.67 11:07PM ET? 739.54 (3.63%) Components, Chart, More ^BSESN BSE 30 14,141.52 Aug 17 0.00 (0.00%) Chart, More ^JKSE Jakarta Composite 2,000.85 12:06AM ET? 92.22 (4.83%) Components, Chart, More ^KLSE KLSE Composite 1,191.55 Aug 17? 16.06 (1.33%) Components, Chart, More ^N225 Nikkei 225 15,940.61 11:47PM ET? 666.93 (4.37%) Chart, More ^NZ50 NZSE 50 3,976.90 Aug 19? 82.55 (2.12%) Components, Chart, More ^STI Straits Times 3,282.76 12:07AM ET? 152.05 (4.86%) Components, Chart, More ^KS11 Seoul Composite 1,725.66 12:07AM ET? 87.59 (5.35%) Components, Chart, More ^TWII Taiwan Weighted 8,498.90 12:07AM ET? 408.61 (5.05%) Chart, More HEADLINES Change Display [ hide $$? edit ] 601365[/snapback] Is that a lot? 601370[/snapback] Nikkers was down 875 pts on Friday. It's up 666 pts today. The world's a casino right now. Link to comment Share on other sites More sharing options...
Jimbo Posted August 20, 2007 Report Share Posted August 20, 2007 SKIN IN THE GAME Talked to a very high up Bank executive the other day about the hedge fund blow ups. He said it was the lack of "skin in the game" that allowed the whole CDO blow up. Too many borrowers and brokers with no skin in the game. PS Macquarie Bank looks like a real bargain. I know I bag them all the time about Orica. But now is the time to buy. Maybe Macquarie should buy Bear Stearns? Link to comment Share on other sites More sharing options...
Jimbo Posted August 20, 2007 Report Share Posted August 20, 2007 THE SOUND OF SILENT DESPAIR Lehman held $79.6 billion of mortgages and mortgage-backed securities on its books as of May 31, up 38 percent from six months earlier, according to its quarterly earnings filing with the Securities and Exchange Commission. It originated about $32 billion of residential mortgages in the period and almost doubled its commercial mortgage loans to $32 billion. Looks like Lehman is going quietly bankrupt. Still think it has a lot further down to go. Seeing its main source of income has blown up in its face. How much is that $80 billion in mortgages worth 50 Billion ????????? 40 billion?????? Link to comment Share on other sites More sharing options...
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