Friday, March 09, 2007

New Century Financial - Empty Pockets

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New Century , the 3rd largest sub-prime lender in the US, is in a world of hurt. First, the rejected loan pass-throughs, then the federal in...
405 comments:
Wednesday, March 07, 2007

County Clerks Office, Now "Foreclosures R Us"

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Hey, this housing implosion in Florida has created a new job opportunity - processing foreclosures. It's a dirty job, but some one's...
62 comments:
Tuesday, March 06, 2007

Freddie Mac - The Empire Strikes Back

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In my diatribe about the sub-prime industry (how it created the bubble and is now suffering for it's sins), Freddie Mac , a major purch...
43 comments:
Monday, March 05, 2007

Central Florida - Toxic Financing Results in Home Turmoil

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Before we move on to Freddy Mac and Fannie Mae's take on the toxic loan market, here now a local story on the effects of these "buy...
28 comments:
Friday, March 02, 2007

A Lesson on Exotic Mortgage Lending

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Today, I am going to discuss a key cause of the bubble here in Florida and throughout the country - the easy availability of loans that peop...
47 comments:
Thursday, March 01, 2007

Game On

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Of course, we've been preaching to the choir here - either prices have to come down in Florida, or median incomes have to go up (way up)...
11 comments:
Tuesday, February 27, 2007

It's the Inventory, Stupid!

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To say that we're overbuilt in the Sunshine State would be an extreme understatement. With this, you could say that Palm Beach is the po...
15 comments:
Monday, February 26, 2007

Hard Rock Auction - Results

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As mentioned last Thursday, there was a home auction (actually, it was referred to as a MEGA Auction) scheduled to be held on Saturday at t...
16 comments:
Friday, February 23, 2007

Pricing - Time to Get Real

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How many times can we say it? The property tax situation would not even be an issue if PRICES weren't so far out of line with income her...
15 comments:
Thursday, February 22, 2007

House Auction: Marketing Gimmick or Sign of Things to Come?

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Many of you heard some rumblings in the 4th estate about the steady increase of home auctions over the past year. Now another one up in Tamp...
37 comments:
Tuesday, February 20, 2007

The End of Property Taxes for Homeowners?

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A new and interesting proposal has surfaced in the debate concerning the extreme inequities associated with the current "Save Our Homes...
35 comments:
Monday, February 19, 2007

Housing Slump - Bigger Than Ever

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Despite the repeated denial by those in the REIC (real estate industrial complex) over the past 2 years, the numbers don't lie. And the ...
16 comments:
Wednesday, February 14, 2007

Credit Crunch at the Bottom

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Really it's no surprise, but with the steady incline of mortgage defaults (and the subsequent implosion of mortgage lenders), credit is ...
37 comments:
Monday, February 12, 2007

Florida Homeowner's Insurance - Bad Moon Rising?

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Today, our esteemed governor Charlie Crist is expected to sign the 2007 Florida Insurance Reform package into law. This will take away the d...
10 comments:
Friday, February 09, 2007

A Cautionary Flipper Tale

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Here now another great story- about a recent emigree who got into the same old flipping mode as many others did in this state. The thing was...
32 comments:
Thursday, February 08, 2007

More Negative Forecasts for Home Prices in 2007

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The International Builder's Show is being held in Orlando this week, and it doesn't look extraordinarily bright for this year (which...
34 comments:
Tuesday, February 06, 2007

Realtors - Yet Another Marketing Scam

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Our friends at Realtor.com have taken to adding a new "survey" that pops up when you search on a zipcode and follows with a few q...
19 comments:
Tuesday, January 30, 2007

Little Empty Houses - For You and Me

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From Marketwatch - we've now reached an all-time high in overbuilt housing. 'WASHINGTON (MarketWatch) -- The number of vacant homes ...
50 comments:
Wednesday, January 24, 2007

Free Insurance Money for Everyone!

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Unless you've been living under a rock here in Florida, you know by that Charlie and the populists (the legislature) have caved in to th...
48 comments: