Monday, April 17, 2006

BubbleSphere Roundup

At Mish's Global Economic Trend Analysis tells of nonprime lender Acoustic Home Loans that is now out of business. "Acoustic was the 27th-largest nonprime wholesale originator in the nation." Guess where they are located in Orange County (OC), California. Very appropriate.

Crash 2006, has a post titled 'Welcome to the ten dumbest realtor blogs'

Keep you eye on the rising mortgage interest rates. "Rates on 30-year mortgages climbed this week to their highest point in nearly four years, a development that could put a further crimp in housing activity" 'Could'? It will. The only question is: how much of a 'crimp'?

Housing.com Blog is doing a super job keeping up with the housing market and all it's excesses.

How about this island for 850k? Hattip to: Vancouver Housing Market Blog

Check out the new and very promising New Mexico Real Estate Blog.

I am still on vacation so postings will be light. Cheers.

8 comments:

  1. I'm discovering that people I know in the D.C. area that bought 4+ years ago are using the equity made in the last 4 years to buy additional investment housing.

    So it's basically pushing debt around.

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  2. interesting piece in money about overvalued markets

    http://money.cnn.com/2006/04/07/real_estate/overvalued_housing_market_Q4/index.htm

    note the dc/nova area

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  3. The price for the island is 850K not 50K

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  4. This post on the WashPost real estate message board is of interest :
    Bethesda Condo Update. Especially the one with six price reductions. lol, OMG.

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  5. arlingtonva said...

    I'm discovering that people I know in the D.C. area that bought 4+ years ago are using the equity made in the last 4 years to buy additional investment housing.



    I have an acquantaince who made good money on a flip last year in Silver Spring. Nearly all the work done on the house was by a crew of undocs from Central America. He took his profits and bought another property. He was certain this years market would be a repeat of last year. I think he could stand to lose some after he made so much last year.

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  6. "The price for the island is 850K not 50K"

    Fixed. Thanks.

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  7. My wife and I sold our wildly overvalued split-level in NJ in 2004 and relocated to Upstate NY on the shores of the St. Lawrence river overlooking some of the many 1000 Islands referenced in the ad.

    The island market has gotten ridiculously frothy. Every waterfront property up here is up 200-400% in a matter of 2-3 yrs.

    It's clearly about to end b/c there is no industry up here (except the Federal Govt - see "Ft. Drum, NY") and most of the island homes are seasonal second homes. I've heard of many island homes being financed with no-money down ARMs - that's ugly.

    On the flip side, the weather is spectacular up here 3 mths every year and I get to watch the sunset over a huge body of water every night - hard to put a value on that.

    My blog is named after one of the local islands - http://grindstonefinancial.blogspot.com

    Later.

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  8. Interesting article in wash. post business section today re: D.C. housing outlook.

    What is your take David?

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