Comments on: Hyland REO http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/ Tracking the Arcadia and San Gabriel Valley Housing Market Thu, 20 Nov 2008 10:36:33 +0000 http://wordpress.org/?v=2.5.1 By: SavedbyGrace http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/#comment-1766 SavedbyGrace Tue, 22 Apr 2008 01:25:41 +0000 http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/#comment-1766 I've accepted the fact that homedebtors, their realtors and the NAR are going to cry bottom many, many times before we actually get there and have almost given up on voicing my views because they don't listen anyways. What will happen will occur regardless of what I said (or don't say) so I just keep to myself now. As for the rising oil prices scenario, I'm in complete agreement that it will affect many, if not all, facets of our lives - housing included. We bought a bag of rice this past weekend that used to cost $12.99 (we paid $20.99 yesterday). The crushing weight of the weak economy will further depress home prices as people struggle to get by. The subprime problems will seem like a small deal if the dollar continues to tank and commodity prices skyrocket. We're in it for a rough one. Put on your seatbelts and hang on to that cash. I’ve accepted the fact that homedebtors, their realtors and the NAR are going to cry bottom many, many times before we actually get there and have almost given up on voicing my views because they don’t listen anyways. What will happen will occur regardless of what I said (or don’t say) so I just keep to myself now.

As for the rising oil prices scenario, I’m in complete agreement that it will affect many, if not all, facets of our lives - housing included. We bought a bag of rice this past weekend that used to cost $12.99 (we paid $20.99 yesterday). The crushing weight of the weak economy will further depress home prices as people struggle to get by. The subprime problems will seem like a small deal if the dollar continues to tank and commodity prices skyrocket.

We’re in it for a rough one. Put on your seatbelts and hang on to that cash.

]]> By: missedthebubble http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/#comment-1763 missedthebubble Mon, 21 Apr 2008 22:20:01 +0000 http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/#comment-1763 Again, another strange weekend... but, I will go back to my breaking point theory again. As I walked and drove by many parts of Arcadia, I tried to take in the community as a whole. The common word of the day, is that we have hit the bottom. I tried to say no not really, because A. Nobody can qualify for a loan, and B. We have way too much inventory. Most of the people just shrugged me off as some cook. However, I would like to add C. to the equasion, and that is the end of cheap oil, and massive inflation that is occurring right now. Huh, what? Yes, this little "sub-prime" crisis is going to accelerate with the Alt-A implosion etc, but (pun intended) the part of the model that is going to add the gas to the fire is Higher gas prices and higher food prices. Think I am crazy, read http://www2.nysun.com/article/74994 Thoughts? Again, another strange weekend…

but, I will go back to my breaking point theory again. As I walked and drove by many parts of Arcadia, I tried to take in the community as a whole.

The common word of the day, is that we have hit the bottom. I tried to say no not really, because A. Nobody can qualify for a loan, and B. We have way too much inventory. Most of the people just shrugged me off as some cook.

However, I would like to add C. to the equasion, and that is the end of cheap oil, and massive inflation that is occurring right now. Huh, what? Yes, this little “sub-prime” crisis is going to accelerate with the Alt-A implosion etc, but (pun intended) the part of the model that is going to add the gas to the fire is Higher gas prices and higher food prices.

Think I am crazy, read http://www2.nysun.com/article/74994

Thoughts?

]]> By: SavedbyGrace http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/#comment-1758 SavedbyGrace Mon, 21 Apr 2008 17:47:02 +0000 http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/#comment-1758 I'm glad you enjoy the blog and truly appreciate you looking out for us. This is in fact an REO so there's nothing speculative about that. If you're referring to my 2/28 ARM flipper scenario, that is my theory on what happened. Echoing the thoughts of TheArcadian, if you have insider information from your research that refutes my theories above please let me know and I can retract/revise my statements. I’m glad you enjoy the blog and truly appreciate you looking out for us. This is in fact an REO so there’s nothing speculative about that. If you’re referring to my 2/28 ARM flipper scenario, that is my theory on what happened. Echoing the thoughts of TheArcadian, if you have insider information from your research that refutes my theories above please let me know and I can retract/revise my statements.

]]> By: TheArcadian http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/#comment-1757 TheArcadian Mon, 21 Apr 2008 17:19:03 +0000 http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/#comment-1757 Our research of public records (e.g. redin, pub records) show this property to be an REO with several un-detailed public record entries. Based on that information in addition to its listing record, we're providing a theoretical scenario of a distressed homeowner. Can public records be wrong? Most definitely. You can fill us in on the discrepancies at thearcadian[at]arcadiahousingblog.com. We'll be more than happy to revise any posting if new information comes up. Unless we start digging up private and personal information, we can never be 100% accurate of each listing's history. Our research of public records (e.g. redin, pub records) show this property to be an REO with several un-detailed public record entries. Based on that information in addition to its listing record, we’re providing a theoretical scenario of a distressed homeowner.

Can public records be wrong? Most definitely. You can fill us in on the discrepancies at thearcadian[at]arcadiahousingblog.com. We’ll be more than happy to revise any posting if new information comes up.

Unless we start digging up private and personal information, we can never be 100% accurate of each listing’s history.

]]> By: george8 http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/#comment-1756 george8 Mon, 21 Apr 2008 16:05:18 +0000 http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/#comment-1756 Zen: I wonder if you could share what you found from your limited research about this property? After all, this is a real estate blog where we all try to share information and educated opinion. Thanks, George Zen:

I wonder if you could share what you found from your limited research about this property? After all, this is a real estate blog where we all try to share information and educated opinion.

Thanks,

George

]]> By: Zen http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/#comment-1755 Zen Mon, 21 Apr 2008 15:49:12 +0000 http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/#comment-1755 I wish I could say this in private: be careful in posting speculative information. From my limited research, most of what you said about this property is not correct. I like your blog very much and I don't want to see you getting into trouble. I wish I could say this in private: be careful in posting speculative information. From my limited research, most of what you said about this property is not correct. I like your blog very much and I don’t want to see you getting into trouble.

]]> By: george8 http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/#comment-1754 george8 Mon, 21 Apr 2008 15:31:28 +0000 http://www.arcadiahousingblog.com/2008/04/21/hyland-reo/#comment-1754 This property will sit in the inventory at this price for years. A knife catcher may try at $1-1.2M. Carrying costs -- about $20k/year just to cover taxes and a little upkeep. This property will sit in the inventory at this price for years. A knife catcher may try at $1-1.2M.

Carrying costs — about $20k/year just to cover taxes and a little upkeep.

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