patrick.net

4X says

Stop calling yourself a conservative if you dont truly believe in conservative principles.

Are there rules & guidelines? Absolutes? Can a person believe in some principles without believing in others? Does the pope shit in the woods?

No, there are not absolutes....but, when people take hard line political stances I think we should call ****it. I guarantee if you look back BAP and his buddies talk heavily about how we need to end these programs yet he/she is willing to take out a loan with these programs? However, I dont take hard line stances on conservative principles, I dont affiliate myself with any one political party and I dont talk ***t about our presidents until they have proven to be incompetent. So far, Obama's procrastination has been frustrating at most but not enough for me to say, Ok, this guy lied about what he was going to do just to get in office.

Personally, I have no issues with FHA, FANNIE, SALLIE, FREDDIE outside of the fact that they take on risky loans and insure the bankers at private institutions. I have explained that in past I have also benefitted from FHA, Sallie Mae loans which have since been paid back in full. Growing up poor I knew my only way out was through college, I took out a Sallie Mae loan to pay for my schooling. By my second year in college I found fulltime employment managing technical analysts at which point I married and bought my first house using a FHA loan. I sold that property for a profit, then bought another using a conventional loan at which point I divorced and stepped away with nothing but my freedom. Without FHA my first property would have taken longer to purchase and I most likely would have bought during the height of the bubble because I was not as knowledgeable. Now that I have the knowledge, I plan to step wisely into homeownership for a 3rd time. I am married for a second time, with 2 children...so it is important to me that their future is not financed away by Congress.

Anyone taking part in the 8K tax credit represent what is wrong with our society....a lack of character, principles and integrity. A group of opportunist looking to get rich through real estate at the cost of our future tax payers....I am sure one day I will be ready to join BAP in accepting the tax credit, however, it wont be until housing reaches the bottom.

Here is what I want:

1. Pull out of Iraq, Afghanistan...setup a DMZ around the countries
2. Rework NAFTA, WTO, & GATT labor agreements to prevent jobs from going overseas without major penalties for imports
3. Reform healthcare to prevent citizens from having to go bankrupt due to major illnesses.
4. Charge all gangmembers as one single unit, if one guy commits a crime the whole unit commits the crime.
5. Strengthen our countries immigration laws
6. Reform of social programs to ensure they run lean environments based on Toyotas lean manufacturing principles.

...and the list goes on. I have always said I am conservative on some issues and progressive on others, but I am not liberal on anything because from my perspective liberals will not take firm stances on any issues.

The parachute may have been pulled, but home prices are still falling...

ok update time:
1) The place had a for sale sign placed on Thursday, but no MLS listing and no know price at the office number, they said he was out for the day and price was not set yet.
2) Then on Friday it was listed for sale for $229K.
3) Friday noon, I went to my lender and asked if I could have the FHA appraiser do an appraisal on the home before I put an offer, they said yep, but you will need to do another one if your offer is accepted. I said fine, and ordered the appraisal by the lady that does the FHA appraisals here (as I was told by the lender)
4) Firday noon I asked my REpro to gain me access so I could make sure the home was still in good shape. Did not happen.
5) Monday, gained access and walked the home, it still looked ok, with some sheetrock craks in the ceiling from water damage, but nothing really bad. Told my REpro I will be making an offer based on the FHA appraisal I am getting done. My REpro was less than happy with my approach, even expressing how I may be trowing away my $300. I explained to her that for a $170K deal, spending $300 aint a biggie. My REpro said she intended to do a BPO on the place to see how it comes in , in her opinion.
6) Tuesday . about 2 mins ago . My REpro called to tell me she had finally spoke with the listing agent and that he told her he already had TWO full-price offers on the table. She then said I should go ahead and cancell my appraisal. I told her, "nah. the appraisal should be done, and I already paid for it, so I will have it." I told her that I did not believe the other agent, and that even if there are two offers for full price, I gaurentee they do not sell for that price. She was not happy with my distrust of the other REwhore, but I really have no care about that.

and so, I shall be getting the results of my appraisal, and I'll get back to you.
One thing that happened that I did not like, the lending office told the lady what my offer was going to be and what the house was listed at. I think it would be better if done as a blind appraisal. I was really suprized when they suggested that they even use LISTING prices to "set comps". How friggin stupid is that?

Bap33 says

One thing that happened that I did not like, the lending office told the lady what my offer was going to be and what the house was listed at. I think it would be better if done as a blind appraisal. I was really suprized when they suggested that they even use LISTING prices to “set comps”. How friggin stupid is that?

This is what happened during the bubble. They'd state the sales price and then the appraiser had to make it so. With blind appraisals these days, that's harder to make happen. However, if your appraiser is good it won't matter.

But it kinda sounds like you're getting screwed on this deal, if the listing realwhore is dictating to your realwhore. I don't know as I'd have an appraisal done for the offer - I'd offer what I felt was reasonable and make the offer contingent upon the appraisal coming in at that amount. But I'm cheap.

The REwhores seem to have gotten a second breath. Did some bailout money go directly to the REwhores?

ok, it looks like I am not a player in this one.
The apraisal came back at $208K. It is a $170K house. Listing is $229 and is pending "at full price after muliple offers". The comps used were absolutly ridiculous, but the excuse I was given was "they have to be 3 to 6 months ago - max." Well ... incase anyone was paying attention , there was a friggin forclosure blockage about that time, creating a big lag in comps. Frggin stupid.
The listing agent broke a few CAR rules too. Oh well.

Next!