patrick.net

Eman says

GNL,

Your comment on Wookie’s wife making $300k/year reminded me of this:

How do you define a successful woman? A woman who makes more money than her husband can spend.

How do you define a successful man? A man who finds such woman. Wookie is a successful man by this definition. 🤣

I don’t have any issues with my wife making a lot more money than me. In fact, I would be proud to have a wife who makes more money than me. There’s no shame to it. Interestingly, the way I phrase it when I talked to other people at real estate meetups always got them to think I married a rich wife. It’s all good.

I agree with you, no shame in a wife that makes good money. I've been on patnet for a good number of years now and yesterday I got a hair up my ass. He is a braggert (I'm not trying to stir the pot all over again here) and some things just do not add up to me about the things he says. Who cares really. I just decided to call him out.

Eman says

I know agents/brokers didn’t use professional photographers for short sales, REOs and lower end housing.

I think this is a mistake. We do lots of rundown listings, REOs and even some foreclosures. I've seen them all. One of my closing lines to Realtors is..."If you aren't online, you're invisible." Think about it, who do you want to purchase these homes? Flippers and Jane and John fixer uppers. They are the ones who will most likely pay the most. Actually Eman, you'd know better than I would on who's likely to pay the most. Would the tear down guy pay the most? But they've got to see it. Floor plans help in these types of sales also. As always, these are my opinions.

GNL says

Eman says

I know agents/brokers didn’t use professional photographers for short sales, REOs and lower end housing.

I think this is a mistake. We do lots of rundown listings, REOs and even some foreclosures. I've seen them all. One of my closing lines to Realtors is..."If you aren't online, you're invisible." Think about it, who do you want to purchase these homes? Flippers and Jane and John fixer uppers. They are the ones who will most likely pay the most. But they've got to see it. Floor plans help in these types of sales also. As always, these are my opinions.

This is just based on my observation during the last housing crash. They have photos on all their listings, but not professionally taken.

It seems like floor plans are something standard for your market. Floor plans on listings are not common in our market unless it’s new construction.

Eman says

It seems like floor plans are something standard for your market. Floor plans on listings are not common in our market unless it’s new construction

I wouldn't say they're standard but we do push them. It's part of our core product (we have an interactive product that combines photos and the floor plan) and it's a nice upsell.

Btw, if you're interested, there's a pretty cool app called Cubicasa that draws floor plans. After a few tries, it's super simple especially on the size houses you mentioned.

GNL says

He is a braggert (I'm not trying to stir the pot all over again here) and some things just do not add up to me about the things he says. Who cares really. I just decided to call him out.

Call me out for what? Explain? There's not a single lie I've told here. What's the point? No intention of fake impressing a single soul here. If you feel that way that's a personal issue on your end and insecurity. I don't lie. I ran a business top to bottom for 15 years that grossed more in 5 years than you have in a lifetime. You need to slow your roll with me. My wife grossed more in the last 6 months than you probably have since you started your business. I don't get the attacks. Let me know when you do $5M worth of photos in 6 months.... I'll wait. I won't because I know it would be a lie knowing the business.

.

saw this on Zero Hedge...84% of corporate suite executives expect a recession in 2024... for the Dems, that better mean by late summer that they can convince enough voters the economy at least has been recovering ...
.

There's already a recession: Biden's Economic Council suddenly changed the definition

So much bullshit, it's easy to forget it:

https://www.cnbc.com/2022/07/29/white-house-goes-on-offense-to-argue-that-the-us-is-not-in-a-recession-.html

AmericanKulak says

There's already a recession: Biden's Economic Council suddenly changed the definition

Okay 1st and 2nd quarters of 2022 had negative GDP growth, but GDP has recovered after that. But it could be shortlived as GDP can have two consecutive negative growth quarters from now until election day 2024.

I wonder if we are still in a bear market though since the S&P 500 is down about 11% from its all time high of 4818 set in December 2021. Recall it dropped about 33% around April 2020 and 21% in October 2022.
,



.

ad says

Okay 1st and 2nd quarters of 2022 had negative GDP growth, but GDP has recovered after that.

It's pretty hard to believe anything the government says. Not saying it isn't true.

I give credit to Fox Business on this article today: https://www.foxbusiness.com/economy/new-data-reveals-crash-not-since-great-depression-could-hit-2024

They report M2 money supply dropping rapidly while still prices remain high. They mention how money supply and prices both dropped precipitously during the Great Depression.

I hope we see CPI reported this month (for September 2023) at a monthly gain of less than 0.3% and an annual gain of less than 3.5%.

.

Ahhhhh, those crazy kids at Credit Suisse blew something up. For those keeping track, a TBTF (too big to fail) bank failed. The depositors made it out without losses. Bond and stock holders...well not so much. Banksters think they will get government bailouts, but I'm gonna bet the next TBTF that goes is gonna get Nationalized. Could be that by trying to save the banks' depositors, that country's government could collapse.

TBTF banks don't really lend to each other nowadays (haven't since September 17, 2019). They cannot therefore count on funds from other banks. They are reliant on Central banks.

There is probably gonna be more bank crisis coming up. We could see rapid movements in currencies. There have been a lot of one way bets on a stronger dollar (with plenty of leverage on those trades). Everyone thinks they can exit their trades before other actors can.

There may be a re-pricing event coming.

Misc says

TBTF banks don't really lend to each other nowadays (haven't since September 17, 2019)

This isn't being discussed enough - the overnight lending facilities essentially froze up in fall of 2019 and then, COVID OMG!!! and the fed spigots were opened.

I talked about it, when it happened. Scamdemic was cover to prevent a collapse they couldn't control, and distract from the fact most 1% are pedophiles.

Here's a guy that is sorta knowledgeable, who sees problems coming up in the banking sector.

https://www.msn.com/en-us/money/markets/the-whole-banking-sector-is-uninvestable-steve-eisman-of-big-short-fame-warns-about-mounting-challenges-for-financial-institutions-here-s-what-he-s-betting-on-instead/ar-AA1hV1BH?ocid=msedgdhp&pc=U531&cvid=e04f71507eb94568a9fc01d67f717067&ei=20

He simply sees decreased profitability, but his gut tells him to avoid the sector like the plague. Some people know the extent that the banks are simply lying on their quarterly financials. Who knows? Maybe someone will call them out on their fraud. If not this quarter, then definitely after they report 4th quarter earnings.

Misc says

Some people know the extent that the banks are simply lying on their quarterly financials

How does one know that every company is not lying on their earnings reports? No one is checking it, right? If someone/somebody is checking the numbers, how accurate are these checks? And the impacts of deliberately playing with numbers?

gabbar says

Misc says

Some people know the extent that the banks are simply lying on their quarterly financials

How does one know that every company is not lying on their earnings reports? No one is checking it, right? If someone/somebody is checking the numbers, how accurate are these checks? And the impacts of deliberately playing with numbers?

With banks there are dozens of regulators embedded in the banks themselves. With the TBTF there are hundreds embedded, The regulators don't really question the banks. They simply review the numbers provided. It takes a little work to get fraudulent numbers into the system.