Gotta love that other FB
I know, I know...I'm supposed to have stories of the other FB's we like to "watch" here on this website. I'm sure many of you know that there isn't much new loan activity going on around the Christmas and New Years holiday.Since there isn't much loan stuff going on during the holidays...I've been enjoying myself and soaking up all the college FB bowl games I can!! I have stayed away from my computer for the most part, and I have enjoyed the time off.
I don't think things will take off just because the holidays are over. It isn't until late February and early March that things start to really pick up again (using past years as a guide). Personally, I think things are going to be much slower this time around. Higher rates, slower to non-existent appreciation, and tighter standards on stated income are going to take a lot of borrowers "off the table" so to speak. Don't worry, that doesn't mean you will get off topic posts for the next 60 days!
For up to the minute updates on bubble activity, keep an eye on Ben's "housing bubble 2" blog that can be found at the top of my links.
I'll be back out in the field looking for loans all this week. I'm sure I will come across a potential FB or two along the way. I must admit, I might have to cut it a bit short Wednesday afternoon as there is going to be one great college football game being played!
Keep checking back and I should be back to my regular posting schedule here shortly.
As usual...any comments and feedback are always appreciated!
SoCalMtgGuy
posted by SoCalMtgGuy at 11:37 PM
12 Comments:
SoCal
Wish you a prosperous and healthy 2006.
Enjoyed reading your FB stories, mainly because of your writing style. Very funny.
Thanks Rent Boy...
There will be many more stories...it is just a slow time of the year.
I will always do my best to keep it entertaining...
SoCalMtgGuy
Need 2 leave CA,
Having only visited ABQ, I know that I liked it. I am told to avoid the southern side, High crime. The food is wonderful, Los Quatos should be on your list of fine New Mexican restaurants. When you say you are in the NE area is that the foothills? if so nice choice! Good luck and enjoy. It is one of the beautiful yet affordable regions left in the country.
> I was going to point out Kiyosaki's current statements regarding RE
Can you point me to his current thoughts on RE ?
Update from “Flipperville” in Sonoma….
Bel Tereno an “infill project” (translation:ugly overpriced shitboxes) flooded over the weekend..these places are selling for 1.4m and up…we met some flippers at an event a couple of moths ago boasting of how they were going to “clean up” in the Spring..well…they’re cleaning up a little early..only it’s mud.
OT:
I must remain anonymous because I went to UCLA, but I want USC to win. "Go Trojans!"
Inadvertantly picked up Filipino weekly newspaper... mortgage brokers are offering option ARMs with rates as low as 0.5%. Yup -- half a percent! Anyone know how to say "f@cked borrower" in Tagalog?
need 2 leave ca.
I think you are in great shape. I'm not against buying houses...even at expensive prices...IF you can truly AFFORD the house without playing financial russian roulette.
Sounds like you are doing things right. I wish you the best of luck!
SoCalMtgGuy
Blueskies, it looks like the FED is nearing the end of it's hikes. The markets predict 50 bp but from two meetings of 25 each, then no more hikes.
The real trouble I see is in the total credit outstanding in the US. It is 40 trillion, or 350% GDP, and it's currently growing (based on Q3 2005 figure) at 25% GDP each year.
Not to mention the unfunded benefit liabilities for sosial security and medicare, which are as much as 74 trillion.
Count those two together and you see the future of the US and the future of your asset prices. We're f@cked, all of us.
Here's a funny post I read in antoerh forum:
"Late on mortgage forced immediate sale of my Sony s360. Had to pay it in cash since I was a few months behind. So, I replaced it with something I could charge to card and bought a 9300 2 1/2 months old for 900 bones. wuxga/756mb/6800go/1.6ghz/40gb 5400rpm hdd. I'm sure after the sony I will miss the battery time and deffinately the screen from what I hear."
Could this guy be a FB?
need 2 leave ca
Where abouts did you land in alb? I was out there a couple weeks ago looking at homes. I looked in rio rancho area. Seems nice out there but can get real cold I hear. I'm a refugee from sacramento looking for affordable home.My stupid as! ex girlfriend but an overpriced place in rocklin ca. I hope she loses her as! when the bubble explodes. Arizona is nice but prices are getting too high.Got any advice of where to look since you spent so much time looking.South side seems out from what I have read.
Arizonadude
Its funny but its true.
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