tag:blogger.com,1999:blog-22535876.post115757540571661949..comments2023-10-20T07:59:45.124-07:00Comments on Sonoma Housing Bubble : More than 1/5th 2004 & 2005 ARMS are UnderWaterAthenahttp://www.blogger.com/profile/15944962059749126687noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-22535876.post-1157927154830202852006-09-10T15:25:00.000-07:002006-09-10T15:25:00.000-07:00Yes, those ARMs are a big part of all of this and ...Yes, those ARMs are a big part of all of this and the remedy will be painful..Short Storieshttps://www.blogger.com/profile/02829655525333282534noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-1157756772849105282006-09-08T16:06:00.000-07:002006-09-08T16:06:00.000-07:00"Now that this end is in sight, we can only hope f...<I>"Now that this end is in sight, we can only hope for the best."</I><BR/><BR/>LOL. Remember that movie, <I>Alien</I>, where that chest-bursting creature rampages through the spaceship, destroying everyone? <BR/><BR/>It's sort of like that final sendoff from that smirking, dying conspirator:<BR/><BR/><I>"I can't lie to you about your chances, but... you have my sympathies."</I><BR/><BR/>Guess I like movie quotes, eh?marine_explorerhttps://www.blogger.com/profile/03092782038855356359noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-1157658315848055842006-09-07T12:45:00.000-07:002006-09-07T12:45:00.000-07:00Mortgage brokers in california are regulated,and s...Mortgage brokers in california are regulated,and so are real estate brokers.without enforcement those regulations mean nothing.as far as making more on an opion arm,mortgage brokers can choose a rebate of (usually) 1 to 3%,paid by the lender.the higher the rebate,the higher the interest rate.although the borrower is actually paying the fee the disclosure is on another line of the contract,and is sometimes quickly glossed over "man, i got you a deal,no points!" if the kind of licensing requirements and enforcement that hairdressers are subject to were applied to the real estate field it would be a much cleaner business...no i'm not kidding,check out the requirements.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22535876.post-1157608563923834402006-09-06T22:56:00.000-07:002006-09-06T22:56:00.000-07:00Everyone knew it would come to an end except those...Everyone knew it would come to an end except those who believe themselves when they say it always goes up, and you can't lose, and get in or get priced out.<BR/><BR/>recessions always offer investment opportunities. the coming real estate recession will be no exception. The key is to keep your eyes open, and your money liquid.Athenahttps://www.blogger.com/profile/15944962059749126687noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-1157607815762263642006-09-06T22:43:00.000-07:002006-09-06T22:43:00.000-07:00"More than a fifth of option ARM loans in 2004 and..."More than a fifth of option ARM loans in 2004 and 2005 are upside down -- meaning borrowers' homes are worth less than their debt. If home prices fall 10%, that number would double."<BR/><BR/>"The number of houses for sale is tripling in some markets, so people are not going to get out of their debt ... A lot are going to walk."<BR/><BR/><BR/>We all knew that the real estate bubble was unsustainable. We all knew the day would come when the bubble would eventually deflate. Now that this end is in sight, we can only hope for the best.<BR/><BR/>The collapse of the real estate market will be a great tragedy. We will all be affected by the upcoming economic disaster caused by the collapse of the biggest real estate pyramid scheme of all time.<BR/><BR/>This is uncharted territory. How political and social changes will play out is anyone's guess. One thing is sure -- it won't be pretty.Anonymousnoreply@blogger.com