Real Estate Blog - Blog like there is no tomorrow...pretend it's status quo...

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Blog like there is no tomorrow...pretend it's status quo...

Blog like there is no tomorrow...pretend it's status quo...People keep blogging away...like everything is status quo...like nothing is wrong in the market or the real estate industry.

HELLO! The market is crashing, the Japanese are jumping out of windows killing themselves...at least 125 today...

And the blogs that I could have read tonight, appear to have no clue about the market or the real estate industry. Hello! again...are you people for real?

People, you are posting about some of the most unimportant things that I have ever seen tonight!

Do you know what is going on in the world?

Do you know the stock market went down 777 points today?

Do you even know what this means?

Have you prepared? Probably not...Take out some cash ...actually as much as you can tomorrow...you might need it.

This is serious my friends...very serious...this could be worse than the crash of 1929...

secure your assets. make sure they are insured and get that in writing!

http://www.KarenMonsour.com

Posted by Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime! on 09/29/2008 10:29 PM

Comments (23)

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Originally posted at: Karen@ www.KarenMonsour.com: Blog like there is no tomorrow...pretend it's status quo...

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23 Comments on Blog like there is no tomorrow...pretend it's status quo...

SEP

2008

and there are nineteen million other sites talking about current events, the stock market, japan, and banks. I can not compete with them.

there are no blogs blogging about real estate in lake wallenpaupack, and that's my job. i'm not an anylist, I'm not a mortgage broker, I'm not a politician, I'm not an anthropologist. I'm a realtor. I blog about what happens in my area, which is what people who come to my blog are looking for.

Things are grave today because of Congress' inaction. In Chaotic times like these opportunities we appear and cash will be king.

Karen Rice,

That's because the situation here is quite serious...it's not a joke and if the government doesn't do anything about it soon...well as the Japanese are doing...jumping out of windows and killing themselves as they have lost everything...this is a serious issue.

But what do you expect will be accomplished by blogging and reblogging what's already being blogged by people who know more about it than we do?

Is it going to help things? Is it going to prevent something? Is encouraging panic bank runs a responsible thing to do?

I don't think so.

Personally I think it's several days late and several dollars short - we should have been worried about foreign interest (namely Asian) in our economy and real estate years ago. We should not have outsourced our means of manufacturing and become a society driven and sustained by chinese imports.

It's too late to panic now - the panic should have come years ago when the Chinese started selling poison to people as pet and human food and medicine (oh yes, ask Panama about their cough syrup that happend to be anti freeze.)

Maybe our economy would be healthier if we didn't import everything from American flags to talapia, ya think?

The fact is, my blog is about Lake Wallenpaupack real estate, and I am going to continue to blog about Wallenpaupack real estate, and my personal blog is going to continue to rail against Chinese poison like anti freeze and melamine in our food products, (yes, I said OUR food products) and perhaps about what my kids did on Saturday and maybe I may write a tribute to Paul Newman.

I really think you're stepping over the line complaining that others are going about their business and are not telling their readers to run the banks like you are.

The media is doing a fine job of creating panic, as it has done for years. It's not necessary for realtors to jump into the fray.

Karen,

A friend of mine is the Vice-president of Lending of a local Bank and from what he's told me, I'm not all that worried. According to him its a "Paper" liquidity issue. On the bank's quarterly statements, every home loan in foreclosure, the entire value of the loan must be written off.. this happens the day of sheriff's sale. Only once the home is in the possession of the bank, and sold again, can the bank minimize thier loss.

In short, whats happening right now is that the banks are claiming to have lost all this "money" while sitting on houses that surely have value... probably worth well over 1/2 of what was written off. Yes, some have gotten caught shorthanded with liquid assets, thus the FDIC forces their sale; BUT as a realtor I have seen banks blow houses out the door to get that cash back in the account... making me and my client money.

The Japanese however, have other issues too. They do get a lot of their milk from China...

My 2 cents about the bailout is that the only way Congress should do anything is merely to buy the bad mortgages for pennies on the dollar. Get the loans off the books from these so called banks and then keep the taxpayers in the houses using loan modifications, or get the taxpayers money back after the house completes the foreclosures cycle... paying for the bailout and then some. This can be fixed in a multitude of ways, but it has to keep "We the People" in mind first.

SEP

2008

Karen...this is such a nutty time. All the "experts" from every market don't agree on what needs to be done. This is a scary time. They said that the 700B bailout, if shared equally to every person in the United States above the age of 18 and of coherent mind, would receive a check for $425,000. That would stimulate the economy, but then we'd have inflation worries. But it's really mind boggling right now.

Karen- I haven't kept money in the bank for quite some time now. They wanted to raise my rates when others weren't paying, while lowering my dividends, and now they want to be bailed out?? Corporate America can go F*** itself :-D I have been stiffed too ooooh congress please come bail me out I only need $1M, a private island in the Bahama's, and a giant fishing boat, in return I'll pretend its all going to help the economy but really its just going to make sure the big shots in my company will be ok :-D I'm gonna be living good yo! LMAO

Larry- $425k?? To bad many idiots would probably lose 325k of it in the banks uninsured LOL In all honesty I could probably take that $425k and live the rest of my life on it (and the investments I'd make with it) and I'm only 25.

LOL @ Chris Horton.

Daniel,

Thank you, that was a very well taken comment by you...That's the point of blogging...to get other professional comments.

Larry,

I understood it would cost us all $3600. to bail out this mess??? $425K...how?

Karen R.

Thank you for your opinions...that's the point of blogging...always better to be safe than sorry,..

I choose the safe side. :-)

Amanda,

Ditto your post to Chris...:-)

Karen - I am a pig headed optimist. Markets go up and markets go down n the short term. But in the long term, they always go up. This will pass. This is a buying opportunity.

Al,

Yes it is, I just wish the rest of the US understood that...However, lending now is an issue...10% down at least and a good credit score...I think there will be lot's of renter's for a while...

Chris,

I SEE YOU'RE FEELING BETTER !!!!!!!!! *LMAO*

NJ,

Girlfriend...are you trying to get him started again...for a younger one...he does have some great perspectives!

OCT

2008

Karen,

Chris is my favorite SMART@SS, I can always relate to what he is saying. He's just a baby but with knowledge and ideas far beyond his years.

Ok CHRIS, Deflate your head now!!!! *LOL*

Sorry, wasn't trying to be funny.... ok maybe a little but only about my much needed bailout :-D I could live off 425k (and the investments I'd make with it)for the rest of my life. And I do think if instead of giving the 700b to the banks to lose again we just gave it back to ourselfs (afterall it is our tax money) in $425k checks as Larry mentioned quite a few people are dumb enough to just put it in the bank thinking that is a good idea and lose 325k of it uninsured lol Just my thoughts :-D

Chris,

I'd like one of those checks too!!!!!!!!!!!!!!!!! I would be fine for quite along time (as old as I am) HECK, probably the rest of my life too.

OCT

2008

Can anyone answer me this one.... This new bailout that the senate passed today and is heading to the house where I honestly hope it gets shot down includes tax cuts... HOW THE HECK IS THAT POSSIBLE WHEN WE ARE SHELLING OUT $700B IN TAX DOLLARS?? Do we seriously have that much money just sitting around that we can give them this money and actually lower taxes, if so why haven't we lowered taxes ALOT in the past already????

OCT

2008

Chris,

Pretty amazing that the feds are doing this isn't it? It was passed today, so we will see what we will see!

You guy's go to the lake lately...How about some pictures!

Karen- Yeah it is crazy, and to make matters worse Bush already signed it.... Talk about taxation without representation because I don't know a single person who approves of/ wants/ would choose/ would have passed this b.s.! I am about to move to one of the countries we will be helping out/ sending money to with this one, because I really don't think it will be helping things here much.

Nope haven't been out to the lake since Labor Day weekend, which is the last weekend we go out there usually.

OCT

2008

Chris,

Costa Rico is sounding better every day...I also have heard that Jamaica is changing as well.

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