reo: Wow! Joe Can't Spend Money? Only the Big Cats Can. - 09/25/08 02:14 PM
How to Spend $700B and Actually Solve the Problem
Total responses to this question: 151392 169977 updated as of 09-24-08
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This week almost everyone is eying at one thing: $700 billion proposal made by those Bush Boys.
There are at least two roots we have … (7 comments)
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reo: Where to Get A Funny Santa-Mozila Loans. - 08/29/08 12:23 PM
Dear Tom: California Cities Provide Santa-Mozilo Loans to Upset Mozilo & Geroge Bush
Question: where did you find the 8 page pdf?? I would like a copy of it.. and what cities are you aware of that have this program? Thomas Hargreaves (Teamwork Financial Services)
What a coincidence! God wants you know … (3 comments)
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reo: Do You Expect This: A Californian City House May Be Sold For 1 Percent of Its Peak Price? - 08/23/08 08:32 PM
Wow, what a surprise today I encountered! One thousand dollars for this California city house? Is this a joke? Is this a reckoning day? Am I kidding?
No, there is no typo. This house is absolutely not in Michigan or Ohio where a house sold for $1,000 is no surprise; it … (6 comments)
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reo: How to use 1% down payment to buy a $300K house. - 08/16/08 03:08 PM
Can you get me a loan to purchase a $300,000 house if I have only 1% down payment?
If you are an agent and I ask you the above question, do you think you are able to have a right answer for me?
I would like to further ask you a question: … (4 comments)
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reo: Why We Need 1031 Exchange Scams to Devastate Investors? - 08/13/08 10:41 AM
1031 Exchange Scams Can Devastate Investors
By Ilyce Glink, Wednesday, August 13, 2008.
Inman News
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I always find that Ilyce's articles very helpful and educational. This one is very interesting.
As Ilyce's subtitle stated, "Do you know who's holding your funds?" Here is my response:
… (3 comments)
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reo: Is It True to Expect Paying More for a REO As Bankers Want You to Believe? - 08/08/08 03:41 PM
How to buy a foreclosed home
Sure, there are bargains to be had, but there are also plenty of pitfalls awaiting anyone brave enough to wade into real estate's maelstrom. Here's what to consider.
By Les Christie, CNNMoney.com staff writer Last Updated: August 8, 2008: 11:17 AM EDT
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… (6 comments)
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reo: Except Collecting Fees, What NAR Has Done to Protect Its Members? - 08/07/08 04:56 PM
Please check the full content of this reply at: Wish you a good luck, Here are the Reo department web-linKs
It is easy for the Buyers agent to blame the Listing agent and accuse of trying to take both sides of the deal (which is rare that it happens). Every bank … (0 comments)
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reo: Wish you a good luck, Here are the Reo department web-linKs - 08/05/08 07:20 PM
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Dear Bill,
I don't blame you for coming up the idea of "plot" in our profession. I have seen it all in my past, even my present. Believe me even God can't do nothing about the reality of Real estate practice, let alone our Congress.
It … (5 comments)
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reo: Let's Compare "HUD New Loan Replacement" to Bank's "Short Sale Approaval" - 08/02/08 12:01 PM
FHA changes make housing bill a 'mixed bag'
Congress puts one-year moratorium on risk-based pricing
By Matt Carter, Wednesday, July 30, 2008
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To Lenn (ps. She is a person who post a brilliant reply),
I second your saying: "What I can't figure out is who and why is objecting to the … (0 comments)
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reo: "Affordability" Is NOT the Core Problem, "Social entitlement or Government Intervention" IS. - 07/29/08 08:21 AM
Housing still unaffordable
My dear:
Okay, as requested, I removed the entire quote of your words in Inman column from my blog.
Please accept my apology if my use of your article have you felt infringed and unhappy, even I had honestly tried to omit some parts of your article to make mine not qualified as … (2 comments)
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reo: Here We Go Again! The Best Time to Make $ in Real Estate? - 07/16/08 11:31 AM
Bank took this Condo back for $232K, now you can have it for $75K.
Wednesday, July 16, 2008 8:57 AM From: "Et" exxxxxx@yahoo.com To: "m"M@XXXbank.com
… (0 comments)
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reo: Can You Buy This Californian 1989 Half Million House For $150K? - 07/08/08 04:18 PM
Public Facts:
Single family
4 beds
3.0 bath
2,171 sqft
Lot 8,000 sqft
Built in 1989
Zestimate Information
Zestimate: $545,000
30-day change: -$13,000
Value Range: $463,250 - $577,700
Last updated: 07/07/2008
Market Value Change
* The navy blue line is for the value of … (1 comments)
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reo: Foreclosure Is Good Stuff for a Market, Isn't It, Marissa? - 05/09/08 07:04 PM
A Funny World (25): God gives you a chance to stand up again
Lucrative Grim Repo Man is Product of Economic RecessionBy Marissa BlaszkoStaff Writer
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My dear Marissa:
Listening to what you said: "I don't have any idea how you managed to misinterpret that article so … (1 comments)
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reo: Still No Sign for SoCal Housing Price Stablization - 04/28/08 01:25 PM
As I observed, the momentum of downfall in Los Angeles County is so huge. The speed toward South is just beginning to accelerate.About 3 months ago, I asked our real estate agent folks help me in buying a piece of property in San Gabriel valley. I wrote some articles to express my … (1 comments)
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reo: A Funny World (24): Market Value Freeze, or Market Free Trade? - 01/26/08 09:25 AM
In response, I am enclosing herewith is a post for you guys' reference:
As I said in the main article A Funny World (23): Mail Your Keys In and No Foreclosure Record Out?:
Homes being foreclosed are growing steadily and strongly while the normal transaction is rapidly shrinking, if not down to zero. The former … (3 comments)
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reo: A Funny World (23): Mail Your Keys In and No Foreclosure Record Out? - 01/23/08 08:59 PM
01-23-2008 21:00
Three Notes on Housing
1) One part of the story that does not get much play is the demographic story on real estate. (Note graph.) Baby boomers will try to cash out of homes to fund their retirement. Now, that effect will vary by region, because oldsters will want to live … (4 comments)
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reo: A Funny World (22): Pragmatist or Moralist? - 01/23/08 12:27 PM
01-23-2007
The Economics of Second Liens
Rich Shinnick 12:57 PM Sun Jan 20th
Felix, It may very well be prudent to draw against your HELOC if you anticipate needing the money and are worried, but implying that people should do it because they will only have to pay back 10% is a little mis-leading … (0 comments)
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reo: Wells Fargo Took the Lead in REO Market - 01/20/08 11:17 AM
No Bank Update Its REO Operation In Cyberspace
Keith, thank you for your reply.
You're starting your RE auction business. Well, you are a little bit late in this field, but not too late.
There are someone dominating the market share. The major one started at least 3 years ago. They are great to … (7 comments)
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reo: A Funny World (20): Don't Blame Me, Blame WAMU? - 01/15/08 09:44 AM
BEWARE! The Worst Lender EVER to deal on Short Sales Washington Mutual-WAMU
01-15-2008
Wamu is no different than a regular seller. Both of them are ignoring the reality that housing price dramatically goes down, by somebody feeding them wrong ideas.
Look at NAR website, we can find so many listings in San Gabriel valley, … (4 comments)
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reo: Who Cares You Want to Be Easily Controlled? - 01/10/08 02:06 PM
A Funny World (18): A Creative Profession or A Losing-control One?
YOU MY FRIEND HAVE TO MUCH TIME ON YOUR HANDS, SIGN THE DOCS AND GO ON, FOR AS LONG AS IT TOOK YOU TO WRITE YOUR RANT YOU COULD OF SCANNED AND EMAILED YOUR OFFER
01/09/2008 09:26 PM by Delete … (0 comments)
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reo: A Funny World (18): A Creative Profession or A Losing-control One? - 01/09/08 09:02 PM
01-09-07
My fellow agents,
Today I would like to show our fellow agents how we, as a professional specialist, have tried to complicate a simple real estate transaction under the influence of legal profession.
Our ancestors did their real estate transaction in a simple and costless way. Twenty years ago, we used a two page California state … (4 comments)
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reo: No Bank Update Its REO Operation In Cyberspace - 01/03/08 02:57 PM
As a savvy real estate investor, I will say IMB is very foolish and conservative in its REO operation.IMB is the one who has been more willing to put out more REOs in its website than others. However, nobody in financial service is taking the advantage of Internet to treat its … (5 comments)
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reo: A Funny World (17): Your Tent City? Or My Tear City? - 12/25/07 10:01 PM
Christmas, 2007
Tent city in suburbs is cost of home crisis
By Dana Ford
ONTARIO, California (Reuters) - Between railroad tracks and beneath the roar of departing planes sits "tent city," a terminus for homeless people. It is not, as might be expected, … (9 comments)
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reo: A Funny World (16): Why ASK Lender's Mercy? Why Don't You Do Lender a Favor? - 12/23/07 01:12 PM
When Is it a good Idea to Consider a Deed-In-Lieu of Foreclosure
Decisions. Decisions. Decisions. If you are late on your payments and are trying to think of some options as to what you can do to avoid foreclosure, here are some options:
Repayment Plan Reinstatement Forebearance or Loan Modification Agreement … (6 comments)
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reo: APF's Egold (2): Up to 75% Off in Leandar, TX - 12/21/07 04:01 PM
APF's Egold (2): Up to 75% Off in Leandar, TX
You may be able to get it for $32K or less. It will not be sold for at least 10 days. You have ample time to take action.
Well, you have to have at least CASH of $12K. If you don't, please find a … (0 comments)
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reo: REO Trash Digger (1): 60 % Off in Granada Hills, CA - 12/20/07 01:51 PM
12-20-07
REO Bargains:
Get a new REO information to update housing price in Granada Hills, Los Angeles County, CA.
Nice home with upgrades, tile in kitchen, bathrooms, updated cabinets, french doors, newer windows, and 2 car garage in back alley, lot size 7200 sqft., etc.
Now we know it was sold for $561.8K on May 2005. The … (2 comments)
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reo: A Funny World (14): Sun Goes Up? Or Not? - 12/18/07 03:04 PM
As foreclosures mount, tenants suffer
You've got to figure, these banks are in California, they've got a gazillion properties, they think on a national scale." - Joseph Petrocelli, owner of New England Property Solutions, a company that's hired by mortgage companies to handle the sale of foreclosed properties. Petrocelli was commenting on … (1 comments)
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reo: A Funny World (11): Housing Price Down Or NOT? - 12/14/07 01:42 PM
The Dumbest Thing Said Yet About the Housing Debacle
Housing prices aren't falling. Only the prices of houses that are being sold are falling. Prices have not fallen for those who have not sold their houses.
Every bubble spawns a certain amount of idiocy, but some ideas are so ludicrous, you have to … (0 comments)
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reo: A Funny World (9): Some Win and Some Lose All the Times - 12/07/07 03:44 PM
Bonus Time
Well, supposed someone's crying is heard well enough? Did our great politicians listen? Yes, they did or they won't come up the B.B. "freeze" loan program. As my dean who graduated from Oxford U. taught us that it is a "American Circus" when he compared ours to the British cabinet system. Mrs. Clinton and Mr. … (2 comments)
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reo: A Real Case (III-1): It Takes FIVE Minutes to Close a Real Estate Deal - 12/06/07 05:14 PM
Can we close a RE deal in hours or shorter?
A Real Case (III): No Upset Housing in Some Areas of Southern California?
12-06-2007 16:20
Just got back home and receive an email alert from an asset management. Here it is:
Now, the listing price is $550K. Take 10% off to reach its … (1 comments)
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reo: A Funny World (8): Bubble Turn Into Double (Play or Cross)? Hope It's Not Trouble - 12/05/07 10:55 PM
* In order to better understand this article, please also check my article Who's crying so loud out there?
* The following news is worth my effort to copy its whole content here for your big laughing and then keep go on reading my comment on it if you want.
UPDATE 1-Mistakes … (2 comments)
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reo: Who's crying so loud out there? - 12/05/07 01:01 PM
The blood on Greenspan's hands
The former Federal Reserve chief now admits there is a housing bubble, yet he still refuses to take the blame he so richly deserves, By Bill Fleckenstein
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Hi! Bill,
Be nice to an old gentleman Mr. G, Okay? Keep in mind that he used to be one of … (1 comments)
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reo: A Funny World (7): Dumb, Dumb, Dumb & Chat, Chat, Chat? - 12/01/07 11:30 AM
Why have Banks decided to stop responding to offers in regards to a "Short Sale" ?!
Questions:
Scott - Here is a big part of the problem. TOO MUCH TOO SOON. Every day that becomes a worse excuse, but I really don't think that the servicers are staffed up for the volume. … (2 comments)
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reo: A Funny World (6-1): Talker with Lips, Doer with LPs - 12/01/07 08:59 AM
HELP! I'm Facing Foreclosure!
I really enjoy Jaclyn's post. After exchange viewpoints with her, she inspired me so much brain storming that gives a birth this article "Talker with lips, Doer with LPs." Before I put it into a real one from a draft, I would like to share your guys the exchanges. I will … (4 comments)
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reo: A Funny World (5): Your Meat is Their Poison - 11/30/07 01:36 PM
Why have Banks decided to stop responding to offers in regards to a "Short Sale" ?!
updated on 11-30-07 13:30
Gee! My fellow agents,
What you guys expect from a conservative employee in a financial bureaucracy? Why they took the 9-5 job? They want to be a nut or bolt in a machine. … (2 comments)
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reo: Great to Have Such a Great Economist at Yale?!!!!! - 11/29/07 07:04 AM
Home prices take steeper downturn
Median or Average Housing Price: Totally Junk To a REO Investor (I)
I read the CNNmoney report above right after Dr. Shiller has his press release conference.
It is very hard for me to accept that Shiller Index is the most reliable vehicle to judge the trend of … (1 comments)
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reo: American Poor Folk's Egold Is Up - 11/23/07 01:12 PM
I got into AR two weeks ago. I have a lot of fun. But there is something missing: excitement for challenges!
So I decide to start a new group: APFE. Here, I invite everybody who dare to have a big dream even he or she is cash-poored.
No person shall be treated … (3 comments)
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reo: Who and What's Mr. B: Brilliant or Bullshit? - 11/21/07 10:22 AM
Are we facing the worst home foreclosures in the history of the USA housing market?
This is very serious, experts are saying next year will be worse, but in reality I believe 09-2010 will be even worse. I honestly believe the experts are deliberate in forcasting the real estate problem, they dont … (5 comments)
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reo: Southern Californian Housing Drown Fast! - 11/17/07 10:52 AM
At 10:40 11/17/07
A vital revised version of comment on A Real Case: Who cares about Average Price or Median Price! (II)
Sorry, my fellow agent. I made a big mistake. The unit #162 is a new listing with no pic shown. It is possible not the one mentioned in the article. So I … (3 comments)
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reo: A Real Case: Who cares about Average Price or Median Price! (I) - 11/15/07 10:28 AM
http://activerain.com/blogsview/272766/Median-or-Average-Housing
post on 10:22 11-14-07
At 09:25 11-14-07, I received an email informing me a new list REO in West Covina, CA. That's about 10 minutes ago. Now use my formula. Here is what I came up to the REAL TIME situation as to the property.
The email notice:
2) the recent sale (s) in … (7 comments)
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reo: Median or Average Housing Price: Totally Junk To a REO Investor (I) - 11/13/07 08:09 PM
Question 1:http://homes.wsj.com/columnists/housetalk/20060512-fletcher.html?refresh=on
Why is it so hard to get good data on housing-market prices? Are there no reliable indexes? I disagree that Realtors will help much -- even for information on price cuts in your target neighborhood. Most Realtors just want to sell houses, and "now" is always the best time to buy; … (5 comments)
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reo: What an agent's life is: incredible? Is it the life you want? - 11/13/07 08:59 AM
This is a updated version of my response to 2 advice given by Fred Sands to a RE agent in LA Times: http://latimesblogs.latimes.com/laland/2007/11/realtors-get-wa.html?cid=88986808
Out of my 20 year experience in RE, including being an owner of my brokerage (or vice CEO in one of 400+ agents at a time) and partner/ owner of one largest appraisal firms in LA, I know the reality … (2 comments)
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reo: Want to be normal? I'd rather be the driver - 11/12/07 11:14 AM
Question
CFC's management of REO
http://activerain.com/blogsview/229672/Anybody-hear-about-Countrywide
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My response:
What's normal?
Different kind of ball game, different rule. Who's the boss setting the rule of game?
Dealing with REO, I make up my mind: Always, always, I am the driver behind the wheel. It is a normal and reasonable assumption based on a vital fact that … (1 comments)
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reo: Normal risk turn in normal reward, Normal people end up with normal life. - 11/12/07 12:30 AM
Q. I have noticed that all the REO and short sale homes have asking prices that are on the high end of market value. How long before the deals start showing up? I really want to buy again but based on the median household income the prices will need to come … (0 comments)
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reo: How Low California Housing Can Go? Buy or Rent? Act or Idle?????? - 11/11/07 03:37 PM
Your Question, http://activerain.com/action/question/view_question_consumer?question_id=4212
I own a condo in West Hollywood. I've got it for a fair price a few years ago....with a down payment and a normal loan. However, it appears that I will need a bigger place within the next 1-2 years or sooner. I can move up....but only to a … (2 comments)
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reo: My observation at Texas county tax sale - 11/11/07 11:28 AM
11-06-07
I went to a county property tax sale auction with 3 potentials, out of about 25 properties being auctioned.
It is a sudden colder day. Only about 60 people show up at the auction. About 15 people left after 2/3 properties are withdrawn. Now I have only 2 to bid. Here in Texas, average people … (1 comments)
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