Too Little, Too Late -- Short Sales Speculation

By
Industry Observer with RETIRED / State License is Inactive Inactive License Oregon

Friday, February 26, 2010, Portland, Oreagon

CURRENT Active Short Sales*:

  • Area 141 North Portland -- 61 properties
  • Area 142 NE Portland     -- 134      "
  • Area 143 SE Portland     -- 264      "
  • Area 144 Gresham, etc.  -- 211      "
  • Area 145 Milwaukie, etc. -- 192      "
  • Area 146 Oregon City     -- 139      "
  • Area 147 Lake Oswego   -- 121      "
  • Area 148 West Portland  -- 164      "
  • Area 149 NW WA Cty      --   52      "
  • Area 150 Beaverton        -- 234      "
  • Area 151 Tigard             -- 190      "
  • Area 152 Hillsboro          -- 185      "
* RMLS MAP OF AREAS IN METRO PORTLAND

That's 1,947 properties of people in my local market . . . I like to refer to them as American homeowners.  That's 1,947 (more) people that are in queue to be systematically EVICTED from their homes.

The banks (financial institutions) did one thing in the two (2) years since March 2008 -- which is when the stock market was manipulated by blood-sucking Zombie speculators (and the blood draw has yet to end). 

What did they do?  They SPECULATED.

"You sold me out for chicken change"

The speculator Vampire Zombies sucked the neck of the SEC beginning in March 2008.  And, you all know what happens when Vampire Zombies suck necks . . .

By the end of September 2008, both the financial houses of Bear Stearns and Lehmann Brothers were sucked dry.  

Out with the old blood, in with the new . . . I guess.  But the infusions are very tainted and perverted.

Those Vampire Zombies are in a real panic now . . . what do they suck next?!?  

Wth the blood already in the water, the Vampire Zombies have swarmed to the source . . . the real estate industry.

Keep in mind what Vampire Zombie speculations do?  They SPECULATE.

"You told me that they, they had it all arranged"

Those naughty little Vampire Zombie financial institutions played and tinkled with your "portoflio" . . . and mine.  They systematically held BACK on short sale offer approvals.  Why?

BECAUSE IT'S CALLED called: SPECULATION, boys and girls.  And they know they can do it because the SEC, FDIC, Federal Reserve have all gotten bitten by the Vampie Zombies, and they too . . . have become Vampire Zombies!

With Lenn Harley's recent FEATURED blog post, I began to think and rethink.  

The only reason the financial institutions seem to want to play in the Short Sale "GAME" is in their best interests.  Period.  They will take your buyer client, and if you want to buy that Short Sale, you will need to get your buyer client approved through that Vampire Zombie financial institution. 

Let's conjegate the word TANK as a verb:

  • Has tanked
  • Will tank
  • Is tanking

And because of the fear of tanking further . . . Oh, NOW they want to set up 'streamline' methods of approving short sales?   NOW!?!

They got . . . and here's a NEW VERB I created just for you:  TARPED!

They got TARPED!!  That money wasn't NEARLY enough to repay the losses . . . the losses, boys and girls are felt in  . . . [INSERT THE NAME OF THE PENSION FUND, SOVERIGN NATION HERE]

The Vampire Zombies waited, and speculated that the real estate market would rebound -- and it's not rebounding.  Hmmmm . . . 'cause this is NOT a game, and there's no Michael Jordan REBOUNDING for your team. 

The financial institutions received TARP (taxpayers money), and when the homeowners/taxpayers went to them and asked for approval on their Short Sale . . . the financial instituions played thir own version of the "Short Sale Game":  they DELAYED, they STALLED, they hem and even hawed, they scratched their butts, they blood sucked . . .  and with purpose AND intent deliberatly put the brakes on the short sale process. 

"You took my money, you got my honey.  Don't want me to see what you're doing to me"

Many Millions of taxpaying homeowners -- I like to call them Americans -- went into Foreclosure and/or Bankruptcy as a result.

Not one Senator, Congressperson . . . NOT ONE stepped in and said a thing!  NOT ONE hearing was called. Was there?!? I don't recall anything, do you?!? 

My prediction, when Americans realize how the "game" was played (on them) then, and only then, will the politicians grow a pair and make a big deal out of this "short sale game." 

Politicians have 20/20 Vision -- when everyting is/was in plain sight. 

We've -- you, me, bloggers on Active Rain -- have been complaining of the length of Short Sales approvals (if they even got approved) for . . . HOW LONG?!?:  We've been CRYING FOUL at the Short Sale "Game" for HOW LONG?!?

Yeah, we're only real estate agents . . . what do we know?

A Politiciatian will need step up to the Empire Umpire mound and cry FOUL.  Too little, too late is what I say for MILLIONS of people in this country . . . whom I like to refer to as Americans.  But better late than NEVER!!

SCREW the foil hats . . . I'm putting garlic around my neck, and I'm checking for bite marks on EVERYONE from now on. 

What happened to my country?

"Take your kids and raise them up, Show 'em how to drink out of a righteous cup"

Turn up your sound volume, and listen to the Godfather of Soul

 

 

 

 

Posted by

 

 

Carla Muss-Jacobs has RETIRED effective May 1, 2018

Representing Buyers in the Portland Metro Real Estate Market | Clackamas Multnomah and Washington Counties | Since 1999

Carla Muss-Jacobs, REALTOR®, ABR, CEBA, ePro
Principal Broker/Owner ~~ INACTIVE

Carla Muss-Jacobs' retirement became effective May 1, 2018

Direct: 503-810-7192 

 

All Rights Reserved © 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Paula Hathaway, REALTOR, LBA 02/27/2010 12:09 PM
  2. Lenn Harley 02/27/2010 11:01 PM
  3. Dick and Dixie Sells 02/27/2010 11:17 PM
Topic:
Real Estate General Information
Location:
Oregon
Groups:
'ACTIVIST' Rain
REALTOR LIFE
Diary of a Realtor
M.A.N.C.R.O.W
Tags:
predictions garlic necklaces with become all the rage just say no to blood suckers

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Rainmaker
1,560,731
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Hi Andi . . . they are lurking :-)  Lambs' blood on the door jambs, garlic . . . whatever it takes to keep them at bay!

Hey Jim -- they are blood suckers, no kidding aside!

Hi Cynthia . . . Did I spell it right?!?!? LOL

Feb 27, 2010 11:05 AM #5
Rainmaker
497,508
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons
Carla; I just cracked up when I saw your "theme"--if that isn't so true!!! Great way to put it...but now we have got to get real serious...would you write to your congressman too? If we all make this our "calling" we can make the gov't do what's right and stop the banking misbehavior NOW. Put a halt to the game and make the banks answer to someone who is NOT A BANKER!!! We need to demand oversight by an unbiased commitee of NON-BANKERS!!! When we get this huge influx of short sales that are specualted to hit the markets all over this country in April 2010, we are all toast! Great Post and I am commenting from your link on my post!!:)
Feb 27, 2010 12:01 PM #6
Rainmaker
180,945
Paul Campbell Realtor Lexington
Rector Hayden, Lexington, Ky - Lexington, KY
Kentucky Homes for Sale

Very clever writing Carla.  I wish I had the optimism Paula you do.  I just don't see Congress listening to the public, even realtors.  Big Money has way to much power in the Ivory Towers

Feb 27, 2010 12:14 PM #7
Rainmaker
661,446
JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate
Ah, the hardest working man in show business, and yet he has nothing on the show that the banks have displayed in the past few years.
Feb 27, 2010 12:45 PM #8
Rainmaker
1,560,731
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Hi Paula . . . if I were rich, I would PAY for round-trip tickets for the individuals and families who have been systematically forced out of their homes.  A March on Washington and let them see how many people in this Nation have been affected.  (I know they can't buy tickets themselves.)  In reality, I would be for anything that would get this bus on the road!! 

Hey Paul -- Thanks.  Women Sufferage movement gave females the right to vote -- some thought it was a very bad thing at the time ;-) 

Feb 27, 2010 01:03 PM #9
Ambassador
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Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

I like when you have rants Carla!  I have them about once a quarter!

You are right, not one hearing has been called.  It's because the lobbyists own them and we have the perception that we are a democracy when we are really a representative republic.  Our representatives represent the lobbyists that give them the money to survive the "political game!"

Feb 27, 2010 02:26 PM #10
Rainmaker
1,560,731
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Hi Renee . . . I think you're being too kind with representaive republic.  I think it's social communism, under the guise of being a free willed capitalist democractic republic.  You're right -- we are under a perception . . .  They (gov) pay farmers not to grow crops, they (gov) want to make health care law by forcing us to have insurance, they (gov) took over bailed out GM, Chysler and Ford, they (gov) have bailed out and invaded the banks, they (gov) have invaded the real estate industry (HVCC, HAFA, FHA, HUD, Fannie Mae, Freddie Mac.)  Anytime they (gov) PAYS, bails out or takes over -- they own it . . . and they pretty much mess it up.  They (gov) had a hand in this -- and either one hand doesn't know what the other is doing . . . or . . . they are BOTH in our (taxpayers/homeowners) pocket.  That's communism when the goverment owns stuff.

Feb 27, 2010 02:52 PM #11
Rainmaker
1,560,731
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Hi JL . . . you said it!!  WHAT a show!!

Feb 27, 2010 02:56 PM #12
Rainmaker
1,524,038
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

Tarped..the new verb. I am thinking that health care reform is a new tarp program as well.

Feb 27, 2010 11:05 PM #13
Rainmaker
372,940
Judy Jennings
The Green Company - Ashland, MA
Broker - The Lanterns at Warren Woods - Ashland MA

Carla - You hold no punches, and you speak volumes with this post. Your response (#11) to Renee made me feel like my blood drained right out of my body, and I am sitting here feeling very anemic. Perhaps I should check my neck?! :-O

Feb 27, 2010 11:27 PM #14
Ambassador
920,351
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

Carla, you have great perception and a keen way of saying it.

Can you imagine the show on D C if we could get all those people there?

Feb 27, 2010 11:30 PM #15
Rainmaker
1,560,731
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Hi Gary . . . I agree.  Health care for the People when they don't have a house anymore?!?  How much more "Let Them Eat Cake" can it get?!

Hey Judy -- You're fine!  The old saying, "If you're not part of the solution, you're part of the problem."  Let's all wear our GARLIC proudly!

Hi Missy . . . You have given me a GREAT idea . . . I will explain later.  THANK YOU MISSY!!   

Feb 28, 2010 04:51 AM #16
Rainmaker
1,142,325
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Carla this is one heck of a post!! Are banks pissing you off? I think so. I have to admit I'm a pretty laid back guy and can always find a work around but dealing with lenders all day long and having to adjust the way I handle my buisness to please them is really starting to get to me. I have had my blood sucked out.

Feb 28, 2010 11:31 AM #17
Rainmaker
1,560,731
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Hi BB . . . I'm not so much pissed, as I am deeply saddened and concerned.  It's heart breaking for me. While I don't take listings, I do read the listing sheets DAILY!  It's very sad to see the numbers.  For our little Metro Portland area nearly 2,000 short sales are active (and that's a just recent count dracula).  That means 2,000 people are going to have to move from the home they bought -- what they assumed -- was fair and square.  That's what bothers me.  I know you work shorts, and have done a terrific job helping your clients.

Feb 28, 2010 11:43 AM #18
Rainmaker
114,327
Sandy Fenton
Keller Williams NY Realty * Licensed Associate Broker - Mount Kisco, NY
ABR, ASP, CDPE, GRI -Westchester NY - Condos to Luxury Homes

Wow - you've really hit the nail on the head! #11 response - another wow. Let's not forget that they (gov) want to put the kabosh on our ability to buy nutritional supplements of all kinds (that, of course, don't need a prescription and the big boys - pharmaceutical companies - can't make any money on and send lobbyists to WA cause heaven forbid we should choose to be proactive when it comes to our health . . .) What a racket.

Mar 01, 2010 02:48 AM #19
Rainmaker
1,560,731
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Hi Sandy . . . yes, what would we do without the govenment?  {rhetorical question} I'm not a fan of the psychotropic drug industry.

Mar 01, 2010 03:43 AM #20
Rainmaker
166,473
Tina Gleisner
Home Tips for Women - Portsmouth, NH
Home Tips for Women

Pretty scary stuff

Jun 13, 2010 12:23 AM #21
Ambassador
3,445,513
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Hi Carla!

I came to you via a recommendation from Thom Abbot to 'like' your FB page and began reading your posts concerning this issue.  I couldn't agree with you more--the money-laden, large corporations were bailed, leaving the lowly American people holding the empty sack and homeless.  The program is NOT working and, of course, it's not being overseen in the manner which it should be.  I'm disgusted and, yes, BB, I will say, I AM angry about it. 

This is not only happening with loan mods but, with short sales as well--all the way to the end of the process and, "Oops!  Sorry, we've already COMPLETED the foreclosure process."   Something has GOT to be done and I'm hoping that WE the People can get it done soon.  I'm ALL in favor or your rant and shouting at the top of our lungs so that DC DOES hear us.

Jun 13, 2010 11:31 AM #22
Rainmaker
1,560,731
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Hi Tina . . .  it's not new scary, just uncontrolled scary.

Hey Debe -- there's a thing about working in this business, because we sell houses.  This is our livliehood, and this is what we do to earn a living.  But to do the bidding of the bank on this is where I have my personal/professional, moral, ethical concerns.  I was just as stupid as the next guy when it came to the complicated finance scheme pulled off . . . and I have learned a lot on Active Rain.   

Jun 13, 2010 01:26 PM #23
Ambassador
3,445,513
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

And, you my dear, have taught many of us here, many things about this crazy business we're so passionate about as well!  Your endeavor is stellar and whether or not it's their business or not, ALL Americans should be passionate about this.  To many, it's more than our business; it's the humanitarian part that is more disturbing to us than the impact this is having on our businesses. 

You're an unusual blend of businesswoman and humanitarian and I so admire you for that.  I'm looking forward to seeing the positive results of your efforts.

Jun 13, 2010 03:16 PM #24
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