patrick.net

knives, cars, gardening

Those are relate deeply to RE!

Knives to defend yourself against future hordes of hungery FBs.

Cars to buy from future hordes of hungary FBs.

Garden with electric fences so future hordes of hungary FBs don't steal all your produce for food.

newsfreak,

Bottom feeder doesn't necessarily have to be derogatory. We all do it at times. It also doesn't always have to mean; taking advantage of the misfortune of others low life S.O.B but in this case, ahem...... it applies.

astrid,

See? You've made it so tidy for the rest of us!

newsfreak,

"Peter P should incorporate as a land baron and fly around searching for the outer circle in other markets"

Let's just form our own resolution trust company and wait for diluge of foreclosed homes to come. You can write the copy. Randy H can do the market analysis. DinOR can work on investors. Owneroccupier can figure out a great jingle. Joe Schmoe can do the legal work. Peter P can do feng shui consultations. etc.

PS, I just need to get my blogging legs back--I like to pretend I'm all respectful of the topic and stuff for my first few posts. Check out the Huh thread from...October? November? to see the heights of off-topic-ness.

(that was a note to p.s., not a post-script.)

ps,

We've got to figure out a standard way to address you.

"Ps"?

I miss Jack. He would make great "intangiblity" measurer...

I miss Jack too.

Newsfreak,

Quoting Wikipedia:
As of April 24, 2006, the price of copper is $3.15 per pound and zinc is $1.50 per pound. At these prices, the pre-1982 copper cent contains 2.03 cents worth of copper metal; it is now potentially profitable to melt them down. Presumably with the rapid rise in price for zinc (more than doubled in the last six months), the US Mint will have to find another alternative. Just the scrap zinc in a cent is worth 0.83 cents. With the costs of manufacturing and distribution, the net cost to produce one cent significantly exceeds $0.01.

DinOR,

So, a couple of threads back I was lambasted for talking about all the transactional frictions associated with foreclosures. I was assured by those in the know that foreclosures were very efficient procedures -- a claim of which I am skeptical given that it involves both the legal system and civil agencies.

So, assuming your logical description is correct I continue to maintain that prices will be quite sticky and sloppy on the way down. RE is the antithesis of an efficient market.

They reason to the lender that it is far better thing to get those assets redeployed into a loan that is performing (and do so quickly) rather than get drug through the wringer on a foreclosure proceeding.

newsfreak, requiem,

We discussed the penny-arbitrage over on my blog a while ago. Fewlesh had a lot of good ideas.

Let me see if I can channel Jack... "The constant influx of moneyed immigrants and trust fund hippies to Marin will ensure no more than a 10% drop in home prices over the next five years. Intangibles, people!"

Okay, that was a BAD Jack impression.

Let me see if I can channel Jack… “The constant influx of moneyed immigrants and trust fund hippies to Marin will ensure no more than a 10% drop in home prices over the next five years. Intangibles, people!”

All I see influxing up here in Marinville is a never ending supply of rude assholes.

Hello!

Check out today's chart posting:
realtyworldcal.com

I'm seeing similar trending in SCC; in fact, according to mlslistings.com, SSC invetory has just (in the last day or 2) surpassed the peak of mid-late October (currently 4308 condo & SFR).

Good day, all!

Oh god PS, The Elitist, that name is too damn hard to type. SQT will attest to the value of a streamlined blog name (she used to be Sacto-QT, or something like that). Let me suggest a few other options:

Pee Ess
Pea S
Pee-S

PS,

I'll check w/ Jim. Doesn't make a lot of sense. But I'll check. Kind of partial to the Military model myself! My old Beezer was awful to kick start at times, you had to "tickle" the primer on the old mono block Amal carbs and get the choke setting just right, but always easier than a Harley! The reason I still like having a kick start is that even if the battery goes dead you still have a shot at not having to push it home.

We'll stand by to get flamed as everyone tells about how much better disc brakes are than the old "drum" brakes! Yes. yes! We know! We just don't care. Besides for the most part Brit style cycling is enjoyed best when not exceeding 50 mph. Above that one could get hurt. B/c I enjoy the feeling of acceleration so much I'm annoying to ride w/ b/c I'll fall behind just so I can get on it. Oh, and the exhuast must be near silent!

Pea Ass?

Mr. Elitist,

That was why I put in the "etc." I didn't want to get too detailed and start excluding able people by forgetting to include in a long detailed list.

Also, dude! You won the dot.com bubble jackpot! I thought you just work for fun and computer access! You can do the knife sharpener hirings and advertisement castings, if you find those roles Elitist appropriate. :)

newsfreak wrote: "Besides,
where else can you learn about the hot bikes to ride,
and money and houses? "

And Surfer-X's secret cult of chubby sex!

Randy H can do the market analysis.

Why do I always get the "fun" job? I suppose Surfer-X gets to pick up the kegs and audition the "celebration party entertainment"...

PS,

Here's the deal in a nutshell. Royal is not certified by the state of CA. However they sell plenty of them there. The way they get around it is by having an Oregonian, such as myself register in the first position on the title, yourself in second position. After 6 mos. you can then transfer to the 2nd owner. Ask for Jim at Raceway in Salem from their OR dealers. No big. Also Jim tells me that the new Electra is in and they have the ANL motor.

Randy,

Because you're really good at it:) You and Fewlesh were doing a great job for free at your blog. Just imagine the great analysis possible with a very large computer and an IB pay structure!

astrid,

All I want out of life is a bunch of smart people and fast computers to do fun stuff with, an office that allows dogs, and a Hedge Fund bonus structure.

After that for a couple more years I can retire and spend the days out on the Headlands writing dark, dreary, dystopian future fiction.

SP, is ES a smaller version of you?

Randy H,

Perzactly! The lender always has a stack of NOD's to work so they are in a big pile. Even in the best of times. So just b/c Mr. Bottom Feeder has tendered an offer that doesn't mean the lender drops everything to attend to it. Often it can be weeks (in some states) before they counter. They'll want to do their research as well. In the end they usually take some sort of short sale compromise but let's be clear, this is not easy money. You're dealing w/ people that are likely in a less than desireable postion and I've heard that sometimes they come up w/ "miracle money" in the 11th hour and for Mr. Bottom feeder it can be a lot of good work down the drain. No thanks.

However, if we're forming a new version of the RTC I will gladly cold call investors. (You don't bring this stuff to your own book).

SP,

Yes Oh Elite One! No big, Jim's good people and when you call he'll tell you all about the new bike!

Jamie, remember there are two kinds of men, those that will diddle a fat chick* as long as no one finds out, and those that are gay.

*a relative term**

**not investment advice.

astrid,

All I want out of life is a bunch of smart people and fast computers to do fun stuff with, an office that allows dogs, and a Hedge Fund bonus structure.

Astrid, all I want is a goofyfoot stand up tube ride, fluency in a third language, a black belt and a large orange cat.

surfer-x and Randy H and DinOR and SP and everybody else,

Hmmm, sounds like we've got a winner here. Maybe I should write a business plan (so it'll include a small division for knife sharpening and selling organic vegetable to the Chinese) now...

After all, if we spend as much time on a business as we do on this blog, we'll be looking at a $100M business in no time.

Okay, I've finally looked up the wikipedia definition of RTCs, it looks like the situation is a bit more complicated than I had previously thought (including acts of Congress). It looks like I'll have two more books to add to my summer reading list.

http://en.wikipedia.org/wiki/Resolution_Trust_Corporation

SQT, nope no Fuchs, I think Craig Holdridge of Pismo Beach has been keeping him captive. I got a call from him back in Oct asking how to pronounce his name. Looked the number up in the reverse directory and he lives right behind my old pathetic rental. I'm having a friend do a random call "hi this is Bob from Advantage and we are giving away free flea control products, no strings attached" "do you have any pets" "oh really, a big orange cat".

SQT, nope no Fuchs, I think Craig Holdridge of Pismo Beach has been keeping him captive. I got a call from him back in Oct asking how to pronounce his name. Looked the number up in the reverse directory and he lives right behind my old pathetic rental. I'm having a friend do a random call "hi this is Bob from Advantage and we are giving away free flea control products, no strings attached" "do you have any pets" "oh really, a big orange cat".

GC,

You just said in the last thread that you're not gay.

Are you or aren't you? :)

GC,

Are you or aren’t you?

Remember, the only surefire way to tell if you are gay is to spend the night with a man naked and not touch him. Unfortuately there is no other method. I'm not gay.

Whoa nelly, further clarification necessary, when spending a night with a man naked, if you successfully make it through the night sans contact, you are not, I repeat not gay. Not that I am in any way shape or form homophobic, I am pro-gay, think of it this way, most lesbians are just not attractive. How do you tell which woman is gay, usually the ones you aren't interested in. Gay dudes, well you should shake their hands because for every gay dude there is an extra chick for me.

I Know many attractive lesbians.

But many are unattractive with comfortable shoes.

Although I am not an authority.

I wear Birkenstocks, does that make me a lesbian?