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I was listening to All Things Considered on March 30, 2008 and I heard an interesting exchange. The usual economic truism — as demand goes down, the prices go down— doesn't seem to apply in the current troubled housing market. Many homeowners prefer not to sell their home than to take...
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The New York Times and other media outlets have reported that Countrywide may be under investigation for misrepresenting their financial position at a time when the sub prime mortgage melt down was looming. Meanwhile, Countrywide CEO Angelo Mozilo was one of three mortgage industry executives...
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 As can be seen by these charts and tables, of the almost 4,000 homes for sale in Bakersfield, one quarter are Short Sales, and one quarter are REO. But of the homes that sold, more than half are REO, there are very few Short Sales that actually close escrow, and the rest are regular...
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Today is the first day of The Year of the Rat, from the Chinese New Year, which uses the lunar calendar. And I’m still writing Year of the Pig on all my checks (rim shot)!   I am declaring this the year of The Rat Pack, and dusting off all of my Sinatra, Sammy Davis Jr., and Dean...
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REO Speedwagon   In Real Estate these days, you keep hearing about REOs, every time you turn around. You can’t swing a dead cat without hitting an REO. What are they?   REO can stand for several things:   Acronym Definition REO Radar Electro-Optical REO Radiated...
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Recently, I saw a segment on Nightline that got me thinking. It was called “Condo Vultures” and it aired on November 14th, 2007: Condo Vultures Zero in on a Dwindling Market, by Jeffrey Kofman and Howard Rosenberg.   What I liked about it was the dramatic skyline of Miami, like...
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What do you do when a car crashes into a house you’re trying to sell?   First, you need to rewrite the marketing remarks: Open floor plan . . . Easy access from garage to house . . . room with a view . . .   That is not just a hypothetical question, because a car somehow...
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We have the former primary residence of David Crisp scheduled to be on our Caravan. The Bakersfield Association of Realtors has been having a Caravan where we view up to 15 available homes, each Thursday we focus on a different area. On November 1st we will be in SouthWest Bakersfield, West of...
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