Repeat the Process

Head Loan Officer Meating
head Meathead presiding

First we built some homes and over-priced them and hoped people would buy them, and buy them they did! And got loans that could not be paid back. The First on this home was $455,000, nearly half a million, waaaayyyy to much for a home in Modesto, California. (Big Belly Laugh)


Second we foreclose on these homes since people can not afford the new payments, but now the homes are worth $250,000, and thats pushing it, I think more like $225,000 or less if they really want to sell them. So we banks take a $200,000 hit since it was overpriced by $200,000.



Third we start all of this once again. These are being built right down the road from the foreclosed home the starting price this time around is $309,000.



Meating ajourned. Now let's get out there and make our $h*t smell like roses!

The new $5 bill

Here is the new $5 bill we will all be using very soon.

Half-hour Wait Time

Here is a house I looked at last weekend.
Flat paint touched up with semi-gloss...nice touch.

It wasn't a bad place, and to my surprise it wasn't a foreclosure. I think they just are tired of it, or having bad renters since it is a rental. It did need the entire interior painted and the entire house needed new carpet.The house itself was structurally sound, although the garage door would not open up all the way. It has a nice yard, and is in a quiet area on a slow street. The price is $219,000 for 1200 sq ft which is not a screaming bargain, but I am looking now and I would buy this place for $179,000 because it does need some minor work and is small so for resale it's worth less in my eyes.

The realtor showed up a half-hour late, and apologized for being late. Normally I would not have waited a full half-hour, but with all the bad realtors I have been dealing with not returning e-mails or phone calls, I wanted to see if this lady would even show up. Who knows, maybe she sat around the corner watching me to see how serious I was by how long I waited. I'm sure realtors get tired of flakey buyers. Heh.

So the search continues...

Merry Christmas

I've been looking to buy a house lately. The market is flooded with foreclosures, and there are so many to choose from. I have always wondered where to find mortgage news, and this source is pretty good. Lets see I have called 3 realtors and only one has returned my call. I looked at a house with the realtor and told him I was very interested in the house, and would like more information. About 3 days later I got an e-mail, and that was after I e-mailed to see what the status was. The realtors in my area must have socked away a bunch of money while times were good, because I'm not getting such great customer service out there. Yeah, that's it.

I guess its a good thing since I have been reading the Mortgage Ledger I have learned a few things about the Mortgage Industry News as well. You also can check the mortgage rates news there. For now I have put the buying a house on hold and I will be keeping an eye on the mortgage news and the current market.

A little side note for my regulars that come here, I looked at a foreclosure with Christmas lights still up. If the power was on I would go back at night and turn them on. The nice thing is I am looking close to where I currently live, and I can drive by any potential house and see what goes on at different times of the day or night. So far I have 3 different ones that are OUT of the question due to the LOUD neighbors. [[[Hatin']]].

Hieroglyphics

Pick your caption:

1. Maybe their ancestors were the ancient cave dwellers who drew all that fancy schmancy artwork on the rocks.
2. I'm not exactly sure, but I think my physician lives in this house.
   
3. Don't foreclose on a gangsta!
4. Homebuyer to realtor: "Come to think of it, I think we'll pass on even getting out of the car to look at this one. Hey, could you drive a little faster please?"
5. At least they don't have their Christmas lights up!
   

46 Years

Today I turned 46 years old. Here are a few things I've learned about myself:

1. I do not like Christmas lights on houses past January 10th.
2. THINGS CHANGE. The best advice I ever got from my mail man. Good things change, and bad things change. I thank God for that.
3. Just because somebody lives in a big house and drives an expensive car does not mean they have life made.
4. I would rather have a small house than a big house.
5. I would rather have my freedom and flexibility and my small house than be a slave to a big house and lifestyle that is not for me.
6. Have goals and don't give up on them.
7. Don't be afraid to have your own opinions and don't be afraid to let others have theirs. It makes life more interesting.
8. Avoid letting negative people have control in your life, and show your appreciation to the people in your life who bring you happiness.
9. You never know when you might die. I almost drowned river rafting last summer with my brother-in-law. I'm not kidding and it was scary. There just so happened to be a rescue school practicing that day, and I'm not kidding about that either.
10. Listen to your wife. Listen to her when she tells you to wear a life jacket, and don't just wear it until you have floated out of her site. And thank God if you have a praying wife.
11. Have respect for others.
    
12. Be humble. People will believe you more if you live it than if you go around spouting it off all the time.
13. Do more listening than talking. This is hard for me sometimes.
14. Dogs are great! Not all dog owners are.
15. I have to do things as I think of them, otherwise I will forget. Part of being 46 years old I guess!

Eye Sore

Mr. Homeowner: Honey, let's paint our house the most hideous green color ever!

Mrs. Homeowner: Yes, but ONLY if we can paint the trim the most shocking yellow ever.
Neighbor: (Big huge defeated sigh)

Early Start

Making his daddy proud.

There is nothing like getting an early start in life!

Pending Home Sales Record Low

Gee I wonder why? Maybe because most homes on the market look like this?

Foreclosures, foreclosures, forclosures

The California market is saturated with foreclosures. I swear the only way one local newspaper stays in business is through foreclosure listings.

Leaving the Nest

We have had a hummingbird nest in our backyard, and it has been pretty neat to watch the progression from momma bird building it, sitting on the eggs, to the babies now leaving the nest just today.

What do you wish your parents had told you before you left the nest? What words of wisdom will you give your own kids?

My wife's dad used to write little notes on her new credit card accounts when they came in the mail, like, "I wouldn't if I were you," or, "I owe, I owe, so off to work I go."

My dad was creative and taught me how to run a business, and for that I will always be thankful to him. He owned a pattern company, and when I was a teenager I would work for him, and he would have me make phone calls to his "important" customers, basically his friends. I would get so nervous, but it taught me a lot and I'll never forget it.

Take time for your kids. You will never regret the time you spend with them, and neither will they (even though they might pretend to).