patrick.net

DinOR

The difference is in the fiduciary responsibility. RE agents and brokers have none.

Jimbo - They said the same thing over and over several years now... "There back".... But its been lack luster.

Sorry but double digit growth of the type we saw in mid-90's aint there.
Aside from that ... nothing out there that is earch shattering...
Most of these new companies are hardware companies with declining ASP (Avg Selling Price) and geared to consumers not corporate buyers (thats where the payoff is)... Think IBM, Cisco, and other ???

Actually 80 today compared to 450 in 1999 nationally. Most of the 80 are NOT in Silicon Valley. There is no need to be located in SV anymore, tech is far too spread out.

You will find far more M&A today than IPO in the cards. Its just too costly!

Randy H,

True, true but isn't it frustrating the way these people will have doctored loan doc's, made gross misrepresentations and still somehow not only evade ANY form of prosecution but likely get back into the loan racket when it's "hot" again?

Here we have people that have displayed wanton disregard for all things regulatory and yet we have no mechanism in place to make sure they don't re-enter the very same racket at a time and place of their choosing?

Since there doesn't seem to be ANY record of whatsoever pertaining to the MB's "wallpaper" they were writing they're free to pursue employment in just about any area of financial sales. The truth is, they shouldn't be within a country mile of handling money period. Who here would want someone that wrote loans to illegals while fluffing up their sources of income selling their mom an annuity? Estate planning? A toaster?

New Century filing for bankruptcy. Details soon.

Person,

Here's a link:
http://money.cnn.com/2007/04/02/news/companies/new_century_bankruptcy/index.htm?postversion=2007040211

3200 jobs for the Irvine, CA based outfit. That can't be good for the Orange Cty economy.

This thread is so slow... perhaps we need a new thread.

I suspect that in a year no one will care about sub-people because the focus will be on prime mortgages.

s/sub-people/sub-prime people

(NO PUN INTENDED) :)

skibum,

What's more is those are 3,200 jobs that ain't a comin' back. Everybody that worked there will always look back and judge every future job they might have as definitely inferior to NEWC. In fact most will lament for the rest of their lives that they never had it so easy.

Ahhh, for back in the day! :(

In my more drilled-down searches, inventory is about 10% above the same time last year.

Which means "not yet".

We will see 200%-1000% YOY inventory increases when IT comes.

There's news hitting today about Alt-A troubles percolating. Some lenders getting hit in share prices.

Anyone know how the 2br condo market in Mtn. View is holding up? My friend is looking to sell, NEEDS to sell - wants last summer's prices.

There’s news hitting today about Alt-A troubles percolating. Some lenders getting hit in share prices.

Oooh. Reflexivity is reversing.

Anyone know how the 2br condo market in Mtn. View is holding up?

It seems newer townhouses near downtown is holding up. How old is the place? Is it worthy enough for google employees?

It's an older townhouse style condo. I'm not sure if it's google-worthy :)

It’s an older townhouse style condo. I’m not sure if it’s google-worthy

Perhaps the listing agent can offer better advice. :)

Which means “not yet”.

We will see 200%-1000% YOY inventory increases when IT comes.

Contra Costa may be holding (for now), but it appears to be the exception: http://bubbletrackinggraphs.blogspot.com/
I suppose the East Bay really is special... :-(

I just opened one of our internal broker/dealer research e-mails and they describe RE as "The House of Pain" :)

Keep up the good work fellas!

New thread: STRIVE Act

lunarpark,

Convince them to get the f'ing thing on the market NOW. When the Alt-A funding starts drying up, the poo will really hit the fan.

I have a co-worker who has a house closing this month. She took a lower offer with a higher downpayment because she figured the higher offer with little downpayment would get yanked.

I told her she should move quickly. She is one of these people who lags - started "thinking" about selling last year. But now she REALLY needs the money. She's going negative every month - putting the extra expenses on credit cards, etc. She's taken out so much money from the condo too - so she needs to enough to cover.

It sounds like she is screwed. She should get it on the market ASAP, and she should be considering taking less that what she 'needs' in order to avoid chasing the market down. Get the latest comps, and price it 50k under to try and get some bidding on it and get it under contract ASAP.