patrick.net

dunnross says

Are you willing to put your money where your mouth is, and make a wager with me on that one?

How about this. I will send $200 to patrick, tomorrow. You don't need to send a dollar. If I lose, you keep the $200. If you lose, and silver never makes it down to $15, patrick will delete your user name. Let this go on the record.

Darrell In Phoenix says

Bigsby says

Nobody thinks he's an oracle. He just happens to have a different point of view to the housing bears on here. Big deal.

You're conflating a point a view with misrepresentations.

Housing prices are falling.

Misrepresentations? Don't be silly. He expresses his view on here, clearly I may add, and invariably tries to support his argument with data. If only the same could be said for certain other posters.

To get back on topic. As someone with boots on the ground in numerous OC cities, what we have right now is a huge structural issue.

- Short sellers have no incentive to move because banks won't foreclose.

- Traditional sellers are underwater and asking for prices far too high. Even if they get a sucker, the appraisal bombs the entire deal to hell.

- Pendings go Active, Active goes pending, repeat.

There was a short sale I called in about last week, not priced extremely well, but the house looked good in terms of the layout I personally want. To even see the house, the sellers required that a signed offer be presented, and IF the sellers accept the offer, then you can see the house and get out of the deal on the inspection contingency. So basically, you have to eat $400 on the inspection just to see the house. If you don't like the house after actually seeing it in person, too bad, you had to pay for the privilege of seeing this overpriced home that some debtor is squatting in anyway, and hasn't made a mortgage payment on for 3 years!!!

Of course the market under $500,000 has been extremely hot. Lots of investor speculation, and FHA offers. If you're within that sweet spot of the FHA conforming limit, $400,000 to $425,000, you will encounter properties with 20 offers that go pending within a day or two. Of course, whether it will close or not is anyone's guess.

Enjoy the freedom of living in rented accomodation the market will sort itself out as soon as all these temporary fixes disappear. Anyone who plays the banks game will be economically punished.

It seems to me like the banks are all powerful entities and can simply lower rates 4eva to make sure prices stay high and go higher. All the rules have changed. Defaults dont matter, high unemployment dont matter, shadow inventory dont matter.

PockyClipsNow says

It seems to me like the banks are all powerful entities and can simply lower rates 4eva to make sure prices stay high and go higher. All the rules have changed. Defaults dont matter, high unemployment dont matter, shadow inventory dont matter.

Matter to who? To the growing unemployed, it matters a lot, and they are becoming a bigger and angrier mob. OCCUPY was just the start.

CDon says

Seeing as its now 18 months later, do you still stand by this prediction 100%, or is it now time to start distancing yourself from this call?

Yes, I still stand by it. Don't forget that prices in some cities such as Detroit, Cleveland are already at 1975 levels, so some of the cities have already reached my level of prediction.

Most of the bulls here are bottom feeders. Their arguments stem from prices bouncing around the same low end prices since 2008-2009,and very low inventory on the low end market. Low end in CA is not going further down but there is quite a bit of room for downward movement on mid to high end market.

Darrell In Phoenix says

And so are you. You're a liar too.

You can't even tell the truth about where you live.

Bigsby says

irrespective of the merits of his comments.

There are no merits to any of his comments. That's the whole point.

dunnross said: Don't forget that prices in some cities such as Detroit, Cleveland are already at 1975 levels, so some of the cities have already reached my level of prediction.
Don't know if this is a typo, or if you're deliberately trying to spread disinformation (please share your sources with us). According to the CS Index, Detroit is at 1995 levels. Cleveland (CS Index 101.58) is actually around the year 2000 price levels.

Darrell In Phoenix says

Bigsby says

drop off the money at my home

"Home"? What kind of fem are you? Is your purse pink too?

It's English. You wouldn't understand.

Darrell In Phoenix says

Darrell In Phoenix says

You mean like you talking to yourself with multiple usernames??

I never understood why someone would discredit himself by using multiple usernames.

Care to explain LieWog/Bibsy?

Darrell, Darrell, Darrell. Or Realtors are Liars. Or... Or... Or...

RentingForHalfTheCost says

The problem is all the realtors don't have much work on their plate. They have lots of time to jump on this board and try and create some business. If you say it enough time it must be true. ;)

Presumably that's why I'm currently working in and posting from Kuwait...

Whoa hey now. I didn't sign up for couples counseling. You two seem super hostile this morning. Relax gentlemen. Give each other a hug, and breath.

Goran_K says

You're offended by those comments? Really?

Then I apologize, with sweet sugar on top. You and Bigsby obviously have a "friendship" that goes deeper than I can comprehend. I didn't mean to get between you two. Carry on.

I'm not offended by them. But it does show you as a bit of a bullshitter, don't you think?

Bigsby says

I'm not offended by them. But it does show you as a bit of a bullshitter, don't you think?

I'm not sure why anyone would get that perception on an internet forum. Isn't everyone here just to BS?

It's not like we're getting paid for our opinion.

Goran_K says

Whoa hey now. I didn't sign up for couples counseling. You two seem super hostile this morning. Relax gentlemen. Give each other a hug, and breath.

Ah, I see you are doing what you do when you respond to Roberto. I'm afraid that it's you who has been hostile, or do you simply not count the insults that you throw around?

Goran_K says

I'm not sure why anyone would get that perception on an internet forum. Isn't everyone here just to BS?

It's not like we're getting paid for our opinion.

At least you've admitted your approach.

I wish I got paid to post on Patrick.net. At $1 a post... I'd be... able to pay the property tax for one month on an over priced OC shack.

PockyClipsNow says

Now its back to zoom zoom higher every year.

Spoken like a true cheerleader. Apple down, Facebook doomed, Zynga dead! HP, barely breathing, Intel down, Yahoo should be dead. The economy is on fire baby! Buy now, and join the masses who have been so long without any excess they have forgotten what money looks like. Come join us, it ain't all that bad. The BBQ backyard parties are awesome!

Darrell In Phoenix says

Bigsby says

I'm not offended by them. But it does show you as a bit of a bullshitter, don't you think?

Housing Demand in Phoenix is cratering.

Hows that working out for you?

Just fine. I don't live in Phoenix. Just like you.

Darrell In Phoenix says

No my LapDog..... We're indifferent to the direct of prices. You seem to cheerlead inflated prices irrespective of the fact that prices are falling.

Show me one single post where I've cheer-leaded inflated prices. I'll be waiting.

Darrell In Phoenix says

Then were do you live Bibsy my LapDog?

Can you not read? I just posted where I'm currently working. Give me strength.

Goran_K says

I don't feel like what I said was an attack. More like a "ribbing" or a joke. I already apologized for the perceived attack. Some individuals are simply more sensitive than others, I realize that now. I hope you, and your "friend" can forgive me.

You really are a bit of a sad individual. Either apologize or don't. Posting shite like that...

Goran_K says

I guess that would be more insulting if I used the internet to find friends.

I rather suspect you wouldn't even be able to manage that.

Bigsby says

Presumably you enjoy being alone with your over-inflated ego.

See, now that wasn't nice at all. I rather enjoy your company Bigsby. *wink*

Goran_K says

Bigsby says

Presumably you enjoy being alone with your over-inflated ego.

See, now that wasn't nice at all. I rather enjoy your company Bigsby. *wink*

Ah, so that post wasn't nice, whereas all your efforts...

Darrell In Phoenix says

Show us one single post where you've been honest about housing. ONE. You won't do it because you can't. You can't do it because your long history of lying to the public about housing is self-evident.

Every single post I've made on housing. You can't even explain what my views on housing are, can you?

Darrell In Phoenix says

Bigsby says

Can you not read? I just posted where I'm currently working. Give me strength.

Given your long history here of lying, you need strength to tell the truth.

Did you work out where I'm working yet?

Darrell In Phoenix says

Show us one single post where you've been honest about housing.

Now, now, Darrel not in Phoenix, there's no need to start playing that game once again. I just told you I've been honest in every single post I've made, so even you can work out that you can just take any one of my posts that is about housing and you'll have your answer.
And once again, if you think I'm being dishonest about housing, then please explain what my views on it are.

Darrell, how old are you? I presume you think it's all grown up to play the role of a troll on a real estate forum of all places. I guess it takes all sorts. You have my sympathy.

Like I said, you have my sympathy.

Darrell In Phoenix says

Like I said, you can't show us just one single post where you've been honest about housing.

Just above you it says comments: 979. Click on it. Perhaps even you can manage that, but hey if you want to continue posting your childish responses (which you obviously do), knock yourself out. Clearly it doesn't take much to keep your mind occupied.

Darrell In Phoenix says

If it's that easy, post it so we can discuss. You won't because you can't. You can't because everyone here knows how dishonest you are.

You are the one finding fault. You find a post on housing where you think I've been dishonest. Go on, I'll be waiting.

Bigsby says

Darrell In Phoenix says

Show us one single post where you've been honest about housing. ONE. You won't do it because you can't. You can't do it because your long history of lying to the public about housing is self-evident.

Every single post I've made on housing. You can't even explain what my views on housing are, can you?

This post is a good example of not being honest. There.

RentingForHalfTheCost says

Bigsby says

Darrell In Phoenix says

Show us one single post where you've been honest about housing. ONE. You won't do it because you can't. You can't do it because your long history of lying to the public about housing is self-evident.

Every single post I've made on housing. You can't even explain what my views on housing are, can you?

This post is a good example of not being honest. There.

There nothing. As usual you haven't proven anything.
a. Show a post where I have been dishonest about housing.
b. Explain what my view of the housing market is. If I'm being dishonest, then you have to know what I believe. Neither of you appear to have a clue, but why not try?
Like I said, you have both failed to answer either of these points. Surprise, surprise.

You two level accusations but cannot show a single post to demonstrate them. That makes the pair of you dishonest, not me.
And Darrell, isn't it time for a name change? Perhaps it would enable you to be more honest about your dishonesty. How about Darrellinhisparent'sbasementsomewhereotherthanPhoenix?

You have levelled the accusation, so the onus is quite obviously on you to prove it. The mere fact you haven't shows you for the liar you most obviously are.

Darrell In Phoenix says

C'mon LapDog..... you can do it.

But apparently, you can't.