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quote:
Originally posted by KathyH
...VERY FEW of the stories on the foreclosure forums involve reset rates. Most are either people who lost their jobs or had medical costs who could no longer afford existing payments...
Exactly! I have several friends back in Illinois who got into the same situation.
In addition, Obama's program has made it worse. The banks (mortgage companies) get money to cover most of their loss on a property. A bank used to care about how little the foreclosed property might sell for. Now they don't as they get most of the loss paid back. Have you noticed how many foreclosure sales now list "no upset price"? The banks don't care if it sells for $1. (the judge won't approve a $1 sale, but that's another story) They get paid anyway. This does not help the real estate market.
My prediction - worsening foreclosures in 2010 with a slight bump in real estate sales in Spring due to pent up demand - going flat or lower for the rest of 2010.
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"Having made a few in the referenced thread, and some I feel vindicated in relatively high resolution"
Which predictions do you mean? You said the Dow would bottom out at 7000-7200. Though close, this was incorrect; its lowest point was 6440. I couldn't see any other quantifiable, testable predictions that had any sort of timeframe. Please correct me if I'm wrong.
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A good portion of the TARP funds will get repaid, but the funds shuffled to other programs rather than benefit us taxpayers. The 3 stooges will enact and sign legislation that will make last years budget deficit look like the good ole years. Bottom line we, taxpayers in Hawaii will pay more whether it's truthfully labelled taxes or given a more palatable name.
Both the State and County will operate with head in sand and refuse to bring government costs in line with realistic income projections and also increase their take from the people.
Bottomline, for same income level, we will have less discretionary funds.
David
Ninole Resident
Ninole Resident
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I predict one of the items below:
Rush Limbaugh will make a change to his format after his heart attack in Hawaii. We will find out he is gay with a wife who has been running his show and funding anonymously domestic violence prevention programs.
The mystery of the grassy knoll will be solved now that the people involved are over 75 and playing golf in Kona or at lifecare in Hilo.
We will have a democrat as governor at the end of this year in Hawaii.
We will find a way to use methane from compost as an alternative fuel for cars in Puna.
Pick the one most likely.
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quote:
Originally posted by mdd7000
Look at the notices that are being posted in the local newspapers - they are slowly increasing in number.
That's not correct according to RealtyTrac and the Griggs Report.
Kathy, the banks do not agree to any kind of short sale if there are association dues and/or real property taxes due on the property. In addition, they only have limited liability to pay association dues on foreclosed properties.
DavidM, the TARP was repaid by all the banks, the last two paying it were Citibank and Wells Fargo during the last week of December.
Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
808.327.3185
johnrabi@johnrabi.com
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
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aloha all,
great idea paul, i'd like to see how accurate my predictions for 2010 are in 2011. here goes...
real estate will still be flat. (sorry john!) ARMs are still coming of age in 2010 and will negatively impact the market and psyche of the market. since "new" home construction is stagnate it will contribute to an uptick in existing home sales because of limited inventory. however, overall, home sales will be down due to consumer confidence, lingering unemployment, coming inflation and tax increases.
jobs will continue to be bad for the next year. i think we may have seen the bottom of the overall unemployment rate at 10% or so, and companies have helped by depleting inventories which will create new manufacturing orders. however, i strongly believe that most organizations are "gun shy," due to the horrors of 2009 so will only hire as needed without alot of aggressive expansion in employment. my prediction would be that unemployment will end the year at 8% or so.
the dow will remain up due to money being moved by brokers and continued low interest rates and cheap borrowing (til mid year). i would guess that it will end the year around 12,500 barring some unforeseen terror attack or catastrophic natural disaster.
my real concerns for 2010 are when it will come time to "pay the piper." i foresee coming taxes and inflation in response to our government's poor spending and lack of control. interest rates, tax increases and inflation are sure to come and will most likely halt the economic recovery...
other than that, merry new year to all! can't imagine it will be worse than last year for most so let's hope for the best and enjoy every moment we can!
aloha,
:?)
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Congress will get their pink slip and our printing press, the Federal Reserve will be audited and their doors will close. This will be the year the monoploy money ends and only a few, will have access to credit! We will see more and more tent cities, homelessness, less social programs, less food available.
John, maybe it's not the HOA fees stopping the bank from foreclosing, but it's a 1-2 mil condo and there hasn't been a payment made in two years and they have not moved on it yet, so you tell me! Is that going to continue indefinitely? I don't think so.
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quote:
Originally posted by whalesong
Congress will get their pink slip and our printing press, the Federal Reserve will be audited and their doors will close. This will be the year the monoploy money ends and only a few, will have access to credit! We will see more and more tent cities, homelessness, less social programs, less food available.
Oh cmon please.. this is supposed to be "predictions" not fantasy. The, not our, Printing press/Fed is safe in the hands of another Goldman Sachs alumni (hmm.. no change there) and he has already said No to any hint of transparency. The changeling everyone elected is already using signing statements to control the congress (the very same signing statements that he, right fully, thought Bush should have been impeached for) Hmm.. the prudent Dem might say hey whats up with that? I like your list but honestly I do think we'll see mucho social programs, to no avail.
My prediction is simple... They're going to tank the dollar this year and by this time next year we'll be in great discussion over currencies etc.. Countries are and will continue to drop the dollar as their international exchange currency as well.
http://www.naturalnews.com/023480_Americ...Union.html
I think we'll all be humming that old Don McLean song.. Bye Bye Miss American pie, drove my chevy to the levy..
BTW.. what ever happened to y'alls barter co-op localized currency plan? I thought that had some good thoughts.
Blessings,
dave
"It doesn't mean that much to me.. to mean that much to you." Neil Young
Blessings,
dave
"It doesn't mean that much to me.. to mean that much to you." Neil Young
Posts: 447
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Real estate will decline in real terms, (if a nominal increase may occur, but that is when consumer prices will be rocketing)
Increase in consumer prices
Military intervention in yemen / africa
unemployement will increase after the first quarter again
the dollar index will reach new lows
gold will continue to hit new highs
The Audit the fed bill will be passed
we will also have another "domestic incidents" in re: to a certain tactic we have a war on.
the commercial real estate market will further decay
just some of my speculations
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