Please ignore the link - wrong one n/t - Posted by michaela-CA
Posted by michaela-CA on August 10, 2007 at 06:01:10:
…
An article on YouTube… maybe - Posted by JT-IN
Posted by JT-IN on August 10, 2007 at 03:35:46:
Michaela:
Maybe you got your links discombobulated… AZIS - No Kazvam ti stiga. Little connection to the newspaper or the Mtg mkt… LOL
Re: Some thoughts on new mortgage situation - Posted by Rich-CA
Posted by Rich-CA on August 09, 2007 at 22:24:02:
I stopped trusting what the Chronicle writes back in the early 90s when I found an article I read in the National Inquirer reprinted at a later date in the Chronicle under “news”. This is not a paper known for its “facts”, they generally regurgitate what someone else has written without doing the basic research to determine if the facts are correct.
Re: Yep… - Posted by David Alexander
Posted by David Alexander on August 10, 2007 at 09:42:34:
Texas has had that insurance and taxes problem for the last 6 years…
On a 200k house taxes and insurance… are around 6k… close to 3%
If it’s a rental… that number goes another .5% up making it very hard to be a landlord.
I got out of the rental business years ago for that reason… still have a few but, only out of neccessity…
Re: Detroit deals - Posted by Rich-CA
Posted by Rich-CA on August 09, 2007 at 22:34:22:
Employment and employment prospects are always a factor in housing prices. People need to have a source of income to make payments or they don’t buy. Then prices fall.
There are still markets where prices are edging up.
Re: Detroit deals - Posted by Penny
Posted by Penny on August 09, 2007 at 14:25:13:
Truly good deals attract money and tighter lending standards mean less competition. Definitely a good time to be able to buy.
Re: Some thoughts on new mortgage situation - Posted by Penny
Posted by Penny on August 09, 2007 at 11:35:12:
I can’t take credit - that was from reading Ray’s commentary.
Periodically, someone on the commercial forum will ask Ray for his view on the market. He has some excellent insight and perspective - I’d encourage anyone to check the archives for stuff he writes. He’s been in the business a long time and has a wealth of knowledge and experience that is readily shared.
Re: local lender opportunity - Posted by Bob Smith
Posted by Bob Smith on August 11, 2007 at 10:53:20:
Who are their customers? What do they offer their customers that other lenders don’t?
Re: An article on YouTube… maybe - Posted by michaela-CA
Posted by michaela-CA on August 10, 2007 at 09:15:25:
JT,
and by the way: Azis is a huge star in Bulgaria. He sure is something else, isn’t he? 
(saw some of his other videos yesterday, too - lol)
OOops - Posted by michaela-CA
Posted by michaela-CA on August 10, 2007 at 05:56:25:
Someone had just forwarded that to me and I had it copied. I guess when I copied the SFC link after that it didn’t copy - lol.
But I guess it doesn’t really matter. The article was just an example, that got me to think about it.
SInce the chronicle shows today’s articles now I can’t find the link again.
Michaela
Re: Some thoughts on new mortgage situation - Posted by michaela-CA
Posted by michaela-CA on August 10, 2007 at 05:58:50:
Rich,
does it really matter. I just put the article link (which I now found out was the wrong link - lol) up, because it was that article that got me to think about it. Whether there are wrong facts or not in that article, it doesn’t change the situation, that most lenders seem to have scrapped the Alt-A loans for now and that there will be repercussions in some form or another.
Michaela
I have a deal right now that’s becoming shakey - Posted by StevenS(CPA)
Posted by StevenS(CPA) on August 10, 2007 at 10:00:25:
I am also an compulsive reader of the financial market news and real estate news.
Yesterday I received a call from one of my investors telling me may not be able to get the creditline he was expecting to go in on a commerical property we have tied up.
I called the loan officer to see if we could work out different terms or arrangements and we basically got stoned face silence.
So maybe the credit crunch is real or maybe this was just something that just happen to happen at the same time.
Either way, it seems like the easy money days are coming to an end.
good question - Posted by Kristine-CA
Posted by Kristine-CA on August 12, 2007 at 21:50:05:
Good question about local lenders and who their customers are. In my
farm area, there a several local business who’ve been around for
decades and who do a hgh volume of loans. But most tend to market
towards the B or below borrower. There are some equity lenders in
there too. I don’t see any of them offering anything better in the way
of rates or customer service.
Maybe in Luke’s area the local lending companies are doing a better
job. Kristine
I have a feeling… - Posted by JT-IN
Posted by JT-IN on August 11, 2007 at 07:14:25:
If you were in the audience at an Azis concert that you wouldn’t be the only one there with a purple mohawk… 
Re: Some thoughts on new mortgage situation - Posted by Rich-CA
Posted by Rich-CA on August 10, 2007 at 07:36:54:
Error is error and decisions based on error are more likely to be a problem than those based on fact. As something to react to, maybe an interesting kickoff to a discussion.
The reason some papers have shrinking readership is due to the fact that eventually most people figure out that facts are questionable or non-existance.
Re: I have a feeling… - Posted by michaela-CA
Posted by michaela-CA on August 11, 2007 at 11:06:42:
JT,
in fact, that video made me search for German bands on YouTube this morning . I don’t know why I never thought of that before. So now I’ve spent the past few hours, laughing, crying and dancing with many of htose bands, that I used to listen to when I lived in Germany.
Even though many people think all we know is Ompahpah music, we can rock - darnit!!!
Michaela
lol - Posted by michaela-CA
Posted by michaela-CA on August 11, 2007 at 09:03:52:
…good one! You’re right. I’d never heard of him until recently, but quite interesting and I think if he
came to SFO I might want to go.
Michaela