thought for the day, The empirical method versus scientific method
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think this is why many did not see the RE market was going to tumbleI am a numbers geek, I gather data by the GIGABITE, some manually done, some robotic, some gathered by a service
I have learned to stop trying to use the data to confirm my intent or train of thought and to "think" about the data
as RE Pro's we tend to look for what we want to see, that will cause you to follow a trend too long or not long enough
The empirical method is generally characterized by the collection... continue reading >>
Wens. Rates Outlook
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Wednesday's bond market has opened in negative territory as stocks continue yesterday's late rally. The stock markets are posting another round of gains during early trading with the Dow up 86 points and the Nasdaq up 19 points. The bond market is currently down 19/32, but due to strength in mortgage-related bonds late yesterday, we should see an improvement in this morning's mortgage rates of approximately .375 of a discount point from yesterday's morning rates.The Labor Department said this morning that August's Consumer Price Index (CPI) fell 0.1% and that the core data rose 0.2%. The overall reading... continue reading >>
Mr. Bernanke was right more often than he was wrong, and he's right today.
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please learn all you can about Ben Bernanke by STUDYING like one might when far behind in a required College course.Mr. Bernanke has been around much longer than most people know, but he's stuck to his guns on the RIGHT fiscal policy even when his BOSS (Mr. Chairman hissownself - Greenspan) was an adversary in approach theory.
Mr. Bernanke was right more often than he was wrong, and he's right today.
Bush is just announcing the FHA backing of re-fi potential for sub-prime bankrupts to obtain a fixed-rate / guaranteed (27%?) gummint... continue reading >>
Congratulations for this BOOM market (for Buyers).
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Congratulations for this BOOM market (for Buyers).Most forget a "market" consists of swings in both directions, each side having its day in the sun. The slow moves at each end are tough for all to analyze, but once momentum begins, EVERYBODY can see what should happen next.
The odd event in this cycle swing was the speed with which it turned, catching many by surprise due to the pace & trend of the rise.
In any case, I hope you find the right property at a price you can afford. Lots of... continue reading >>
I got a good Plub in For C Ohio
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I got a Nice plug in For Central Ohio!http://www.inman.com/Member/specialreports/0905YaV07/story.aspx?ID=64461
lJeff Tumbarello, a loan originator for Union Savings Bank in Columbus, Ohio, said the bank's business model has "survived the crisis because we do common sense loans. There's always a margin of safety. We're not very aggressive, although we're aggressive for the right people."
For borrowers with FICO scores of 620 or below, the bank offers FHA, VA and Ohio Housing Finance Agency programs.
"We're on track to having a pretty good month, Tumbarello said at the end of August. "The... continue reading >>
FHA Foreclosure bailout info
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Jeff Tumbarello, Loan Officer
614 339 1256 Direct Line
SUBJECT: The FHASecure Initiative and Guidance on Appraisal Practices in
Declining Markets
The Federal Housing Administration is pleased to announce an initiative that will enable
homeowners to refinance various types of adjustable rate mortgages (ARMs) that have
recently reset. This mortgagee letter describes how lenders and homeowners may
refinance mortgages that, due to the increased mortgage payment following the reset, have
become delinquent. The mortgagee letter also... continue reading >>
Bridge Loans
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Are your deals stuck in low
gear because your buyer has
To sell their house first?
PRE-QUALIFY them for a BLANKET LOAN
At Union Savings Bank!
•· Little to no down payment in many cases
•· Higher qualifying ratios
•· Ability to convert to fixed rate after release
•· Title insurance not required on single family, owner ... continue reading >>
Columbus RE, someone show me a bubble, any bubble!
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Bell Curve forecasting systems may work here!
Fractals work in FL, CO, TX
this is a good thing, If you are feeling a slowdown in the market it is due to the mortgage credit, more than supply and demand, the sales numbers are quite good, Some of the boom area's of the country now have mor foreclosures than sales! Thats not the problem here! WHo is with me on this! Lets get togther and make some money
sales numbers Columbus Month sold Average SP list to sale percentage DOM Dec-03 1238 160,904 96.5 109 1-Nov... continue reading >>
Foreclosed homeowners won’t have to pay income tax on debt forgiven by a lender under a bill that passed a U.S. House panel yesterday.
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I can not figure from the media article, what implications this has for the lenders? This will make is easier to work with the buyers as the 1099 is a bit cumbersome of an issue to discuss. Thoughts?
here is the article
U.S. House panel OKs debt forgiveness in foreclosuresWASHINGTON – Sept. 27, 2007 – Foreclosed homeowners won’t have to pay income tax on debt forgiven by a lender under a bill that passed a U.S. House panel yesterday. Should the bill become law, the bill would also extend the tax deduction for PMI and change slightly the... continue reading >>
After Greenspan joined Al Jazeera in his "it's about the OIL" statement,
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After Greenspan joined Al Jazeera in his "it's about the OIL" statement, I just HAD to find out what might drive such a statement after complete SILENCE while the effort got underway...Now, some linkage has to be utilized for this "conspiracy", but here goes:
Snippets from Wikipedia, but there are lots of resources otherwise:
http://en.wikipedia.org/wiki/Alan_Greenspan#Greenspan_and_the_housing_bubble
"Career after the Fed
Greenspan now works as a private advisor making speeches and providing consulting for firms through his company, Greenspan Associates LLC. On May 16th 2007, Greenspan was hired as a special consultant... continue reading >>
