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Replies (14)
- shapiroamg
- Contributions:3058
While the media fixates on the foreclusure issue, they are missing the bigger picture:
PROPERTY IS AFFORDABLE THESE DAYS...
- VINO VIXEN
- Contributions:68
I don't know if the media is 'fixated' on the foreclosure issue, but regardless, if the foreclosures are affordable, rates are good, why not get all the excess homes off the market? It's like a domino affect, you move the foreclosures out, home prices stabilize, resales start moving, inventory goes does, values stabilize/increase.
If anything, the article promotes more people to go out and buy homes.
- shapiroamg
- Contributions:3058
The media like negative. If it bleeds, it leads.
Prices have come down and that sucks for those that own now, but it is good for those (operative word) who can qualify for a mortgage.
What's the wine/whine for today?
- VINO VIXEN
- Contributions:68
What is negative about the article? Nothing. It's positive that home sales have increased, what does it matter whether it is the foreclosures moving or resales moving. As long as homes are moving it's a good thing.
Shiraz and I never 'whine', I just tell it how I see it.
- shapiroamg
- Contributions:3058
Stealth wine thread has started...
Just in case my New England brethren show up:
Game 1: Daisuke Matsuzaka
Game 2: Josh Beckett
Game 3: Jon Lester
Game 4: Tim Wakefield
Game 5: Matsuzaka
Game 6: Beckett
Game 7: Lester
Would have liked Paul Byrd for game 4, with wake for long relief or, god forbid, extra inning games.
Meanwhile MBS's are down about 1/2% so mortgage rates should be going up.
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
Dow down 48. more reprices for the worst coming through email.
- shapiroamg
- Contributions:3058
MBS down over a full point. Expect some pain.
- VINO VIXEN
- Contributions:68
I don't like pain-fore the most part.
- Michael Mazursky, "FHA Mortgage"
- Contributions:314
remember the key word here is "pending". the sale has not gone through yet. you will not know what the real number is until next month when those "pending" sales actually close.
- Joe Cafiero, "Joe Cafiero"
- Contributions:3221
Way to keep these threads on point Shap. Would have like to see Byrd also in Game 4. Teams like the Rays and the Yanks have just seen too much of Wake. He needs to like disappear for a couple of years and then come back in like 2011
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
Dow closed down 189....just keepin it on topic! hee hee
the news is pendings went up in August... Well, October 1 was the end of down payment assistance, and what I saw here was a bunch of people racing to beat the deadline. So, I wouldn't expect this trend to continue, pendings dropped about 20% going into october here.
- Matthew Brown, "matthewcbrown"
- Contributions:171
Rob- I noticed the same thing where I am at, the rush for DPA. It was almost like some did not care as much about what they were buying, they just wanted in. Add to the fact that we are entering a seasonally slow period, I would not expect the next few months to be as busy.
- Aldreth
- Contributions:4226
Tammy,
How is a rocketing unemployment rate going to change your market?
How are tighter regulations going to change your market?
How are declining wages going to change your market?
How are massive inflationary pressures going to change your market?
How is a global recession going to change your market?
Even when the bubbles are gone, what does it take to start inventory declines?
Maybe when there isn't a recession?
Pending Home Resales increase 7.4% as prices fall
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- 4.5/5.0
- (11 reviews)
Contributions:6995The index of pending home resales rose 7.4 percent, the most since October 2001, after falling 2.7 percent in July, the National Association of Realtors said today in Washington. The increase is the fourth so far this year.
If the rates can stabilize and stay under 6, and people can afford/qualify to purchase the overstock of foreclosures over the next several months, our market may change.
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