09-29-2008, 04:30 PM
Actually now would be a pretty good time to buy Bank of Hawaii stock. As much as this whole downturn really sucks it also provides buying opportunities for those with cash and a good eye for which companies will weather the storm. One of my Mutual fund managers predicted big parts of this whole mess last June in one of his quarterly reports and the financial institutions he has my/our money invested in have all so far done pretty well during this upheaval.
On the other hand we are trying to close a short sale that has been twisting in the wind since early July and all this uncertainty isn't helping my blood pressure. Like Kani-Lehua we are also prequalified, but not locked in until the seller's lender OKs the deal. Interest rates have been bouncing up and down since we made our offer and I am getting fed up with having my life on hold while we wait for these incompetents to sign off on the deal. They lost the sellers paperwork several times, and can't seem to grasp the fact that they have a chance to get rid of this property before it goes into foreclosure. AAARRRGH! (Sorry, just venting.)
Andrew and I cross posted so I am editing this to add that we fit all of the criteria he mentioned and still are having trouble closing a deal, even in this "buyers real estate market". You'd think a lender with a property on the verge of foreclosure would be happy to get this house off their books, but that isn't how they operate. I think they are hoping the government will save their butts.
Carol
On the other hand we are trying to close a short sale that has been twisting in the wind since early July and all this uncertainty isn't helping my blood pressure. Like Kani-Lehua we are also prequalified, but not locked in until the seller's lender OKs the deal. Interest rates have been bouncing up and down since we made our offer and I am getting fed up with having my life on hold while we wait for these incompetents to sign off on the deal. They lost the sellers paperwork several times, and can't seem to grasp the fact that they have a chance to get rid of this property before it goes into foreclosure. AAARRRGH! (Sorry, just venting.)
Andrew and I cross posted so I am editing this to add that we fit all of the criteria he mentioned and still are having trouble closing a deal, even in this "buyers real estate market". You'd think a lender with a property on the verge of foreclosure would be happy to get this house off their books, but that isn't how they operate. I think they are hoping the government will save their butts.
Carol
Carol
Every time you feel yourself getting pulled into other people's nonsense, repeat these words: Not my circus, not my monkeys.
Polish Proverb
Every time you feel yourself getting pulled into other people's nonsense, repeat these words: Not my circus, not my monkeys.
Polish Proverb