Seems like a simple question, but I figure some may counter that they haven't quit crying wolf because they never started crying wolf- and whether that's true is another argument altogether.
"Interest rates can't get any lower than this!" was the wolfish cry from mortgage folks when 30-year fixed rates hit an otherworldly 5%- but the cries continued as rates hit 4%...then 3%....and below.
Similarly, we Realtor types were wolfish with cries of "Buy now- we'll never see these prices again!" as the market continued toward bottom- and … (8 comments)
mortgage: Time nearly up for Florida's "strategic defaulters"?
- 10/18/12 11:19 AM
Time nearly up for Florida's "strategic defaulters"? Floridians who lose homes to foreclosure may be doggedly pursued for unpaid mortgage debt http://www.palmbeachpost.com/news/business/real-estate/unpaid-mortgage-debt-targeted-for-revenue-stream/nSgFM/
"A strategic defaulter is defined as someone who can afford to make their mortgage payment but...." WARNING: Controversial Commentary Ahead! Well, I surely hope this is true. I've got a heart for everyone that's struggling financially- but as these words from this recent story in The Palm Beach Post indicate, time could very well be running out on folks that have the means to make their mortgage payments- yet have made the decision that they just don't … (2 comments)
mortgage: Zillow off the mark? Zay it Ain't zo!
- 12/23/11 01:09 PM
Zillow off the mark? Zay it ain't zo! Have to say- I was stunned by this recent news piece......credit Paul Owers, Palm Beach, FL Sun-Sentinel: "In the past, real estate website Zillow.com targeted 2012 as the year when housing prices finally hit bottom – but now there’s a little doubt creeping into the forecast. A bottom may not arrive until 2013, according to a national survey of more than 100 experts conducted for Zillow. After 2013, survey respondents expect annual price appreciation of about 3 percent through 2016. “There is a consensus among the nation’s top housing experts that we have not yet … (10 comments)
mortgage: Florida foreclosures...mediation no more means faster sales once more?
- 12/19/11 06:20 PM
Florida foreclosures...mediation no more means faster sales once more? Very interesting, indeed... This is something to follow rather closely- and I'll be interested in seeing what this means for us in both the near and short term. Where do I fall in this argument? Well, I think this will be a good thing for my business. Folks that stand to get booted from homes they've owned means many folks are out on the market looking for places to rent- and some for the first time in their lives. It's tough sometimes, but I have to disconnect my head and my heart, too. It's tough … (4 comments)
mortgage: He ain't paying his mortgage, I ain't paying my rent
- 10/15/11 06:41 AM
"He ain't paying his mortgage, I ain't paying my rent" I hear this more and more these days... it's been building for the last couple of years- but the "movement" has been catching on and it seems like few days go by without me hearing something of the sort. Tenant: "Dennis, I just got served some papers. Looks like the owner of this place is going into foreclosure. If he ain't paying his mortgage, I ain't paying my rent." Tenant prospect: "I have a great job. My credit? It's fair- not too good, not too bad. My rental history? Wellllllll...I've been … (20 comments)
mortgage: PMI: out of business
- 08/21/11 01:56 PM
Had to take the opportunity to re-post the following from The Regan Team. Early on in my real estate walk, I didn't look at PMI as an option- for all intents and purposes, they were the option. Just as there are many colas yet only one is a Coca-cola and there are other issues yet only one kind is a Kleenex. Others may have differing opinions, but as I see it PMI ranks among the others I've just mentioned- often imitated, never duplicated. Farewell, P.M.I..... PMI, the private mortgage insurance company that helped millions of people with low down payments purchase a … (2 comments)
mortgage: Can The Media Just Report The News- And Not Try To Spin It?
- 08/08/11 09:41 AM
Can The Media Just Report The News- And Not Try To Spin It? Sadly, I know the answer is "no". "Home values looking to decline again"..."More owners looking to lose their homes"..."The government needs to bail-out the less fortunate homeowners that can't make their payments". Those are all catchy- but how about this, as I ponder- "Can The Media Just Report The News- And Not Try To Spin It?" Case in point here: The Orlando Sentinel. The Sentinel ran an optimistic article on August 4th: "Florida Officials Forecast Property Value Increases" The problem with that? This story ran on page B-5 of … (2 comments)
mortgage: Embarrassing Display, Mr. President
- 07/26/11 08:07 AM
Embarrassing Display, Mr. President I only heard of the president's address to the nation last night about 15 minutes prior to it. Although I figured I had a fairly good idea as to what he was going to say, I was eager to hear both his speech and the Republican response. Having worked at The White House for a year (and having contributed to a good number of speeches), I'm an admitted speech junkie. I even have some on tape. My knee-jerk response to Mr. Obama's speech and my thoughts now are one and the same: Embarrassing Display, Mr. President. Mr. … (3 comments)
mortgage: Game, set, match- case closed. I hate strategic defaults
- 06/25/11 01:58 PM
I hate strategic defaults....let me say that once again- I hate strategic defaults. I straddled the fence on this issue for a good bit of time, but no longer. My mind's now made up. It's always seemed pretty simple to me- one signs an agreement, one upholds that agreement. It doesn't matter what the agreement is- you sign something (or even just shake on something), you uphold that agreement-period. Then something happened some time, somewhere...and certain segments of society decided- en masse- that upholding their mortgage agreements wasn't cool anymore. They had their reasons, and some even made sense. Pay … (23 comments)
mortgage: HUD's Neighbor Next Door Program
- 04/19/11 04:29 PM
Hi, Lorinda: I see both good and not-so-good in this program, as with many or most HUD initatives. I've re-blogged this, as I feel there may be a lively bit of discussion. The Devil's in the details with this program in particular in the form of silent 2nd mortgage. I've always been on the fence about any programs with residency requirements, and this one has one for 3 years. On one hand, folks get great deals on houses and expecting them to actually live in them (the terror!) is a small sacrifice. On the other hand, one doesn't know when the market … (8 comments)
Orlando Property Manager Dennis Burgess writes about property management, general real estate and news/events affecting the metro Orlando, FL area.
With more than 13 years of property management experience and being a licensed Florida Realtor, Dennis surely has some sort of information you'll find interesting!
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Thank you kindly for stopping and reading, and thank you for the opportunity to be of service in the future.
Have you quit crying wolf?
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