Area Foreclosures

What do you mean by that? Are you talking very short term, day trading type work?

Not day trading. True day trading is trading the tick. My mind is not equipped for day trading. I mean trade them on hourly graphs. You may trade a couple tiimes per day or per week. Just depends on the trend.

I've got to go post a response to a friend in Dallas to check out SoWal. She just wrote that they are interested in buying on the beach here and asked about good deals.

I just sent you an email.

From my experience of last year, averything 'managed' produced the worst return. The management was just too optimistic or unable to react quickly enough. Mutual funds got hit particularly hard last year, I feel for anyone who tried to ride it out in their 401K, they have a ways to go to get it all back.

My personal preference in this 'traders market' are the leveraged long ETFs. Going long on blue chips isn't something I'm willing to do yet, I'm too paranoid about another major drop, and inflation in 2010. I'd like to be in commodities if that happens.

So, the Dow is down another 300 today, and the stated reason is poor December retail sales. Duh. Did we not already know this? Even if we didn't know the numbers, we could guess, right? And the market wasn't already operating under the assumption that the numbers were going to be bad? I can't tell if the market is just jittery or if we will just continue to see a slow decline for the rest of the year (rather than a big dramatic plunge).

The only thing closest to a sure thing ( could be long or short term ) but definitely a sure thing from this point, is the fact that ultimately interest rates are going substantially higher. Thus, buy TBT.

So, the Dow is down another 300 today, and the stated reason is poor December retail sales. Duh. Did we not already know this? Even if we didn't know the numbers, we could guess, right? And the market wasn't already operating under the assumption that the numbers were going to be bad? I can't tell if the market is just jittery or if we will just continue to see a slow decline for the rest of the year (rather than a big dramatic plunge).

Retail sales and a bunch of bad news from banks. Check out these retail sales charts -

http://www.calculatedriskblog.com/2009/01/retail-sales-collapse-in-december.html

We've never seen anything like this before. I think the decline surprised people.

Market downside from here seems to me to be probable, the S&P500 and the Dow are still like 10% higher than the November lows or so? Something tells me the next three weeks could be down down down. (Although we do have the swearing in next week, that might throw a wrench in this bear's plans.)

Retail sales and a bunch of bad news from banks. Check out these retail sales charts -

http://www.calculatedriskblog.com/2009/01/retail-sales-collapse-in-december.html

We've never seen anything like this before. I think the decline surprised people.

Market downside from here seems to me to be probable, the S&P500 and the Dow are still like 10% higher than the November lows or so? Something tells me the next three weeks could be down down down. (Although we do have the swearing in next week, that might throw a wrench in this bear's plans.)

Those darned Obamoptomists.

Though the Treasury pick did not help. :shock:

Plus Russia won't send gas to Europe, or the Ukraine is blocking gas supplies, or Europe won't hold their mouth the right way for Russia or whatever it is today. Maybe the market is worried that Russia is building excuses to invade the Ukraine?

There has got to be a bunch of bad news ahead. People are not spending money, housing market still in the tank and credit still difficult for most. I do not think we have seen the lows for stocks. A well-known analyst has called for 600 on the S&P500. This can get very ugly before it is all over.

be very careful with 2x and 3x etf's. they have massive erosion over time as they use futures and options that erode in value daily. to get a snapshot of the devasation of holding leveraged etf's look no further than the financial long etf uyg. place a graph side by side with uyg's underlying 1x etf xlf which it tracks. go back 6 months and look at specific prices xlf was trading at and check uyg's price. THERES BEEN AROUND 60% PRICE EROSION IN UYG THE LAST 10 MONTHS. so an example is this. xlf is $10 today goes to $17 and is back $10. it does this in 5 months. uyg would be $10 goe to $23 and be back to $4 today. LONG TERM THESE ARE DEATH. I DAY TRADE THE PISS OUT OF SRS AND SKF

be very careful with 2x and 3x etf's. they have massive erosion over time as they use futures and options that erode in value daily. to get a snapshot of the devasation of holding leveraged etf's look no further than the financial long etf uyg. place a graph side by side with uyg's underlying 1x etf xlf which it tracks. go back 6 months and look at specific prices xlf was trading at and check uyg's price. THERES BEEN AROUND 60% PRICE EROSION IN UYG THE LAST 10 MONTHS. so an example is this. xlf is $10 today goes to $17 and is back $10. it does this in 5 months. uyg would be $10 goe to $23 and be back to $4 today. LONG TERM THESE ARE DEATH. I DAY TRADE THE PISS OUT OF SRS AND SKF

We'll I'm not surpirsed a double-long financial ETF lost 60% in the last 10 months. But going forward I think there's serious upside to UYG.

This was an amazing day today. I have to wonder where we're headed. Tomorrow could be another down day but next week we have the swearing in, following that we have the stimulus news in Feb. Overall I'm wondering if we'll see another rally. The only fly in that ointment is 4th quarter earnings, but the market has been trading up on bad news, so who knows.

I pray Obama has some solutions that will help Wall Street. When I saw my year-end statements and then compared them to the mortality tables, I need to die by next Thursday.

Destin Home Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216423550
Destin Condo Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216423734
Miramar Beach Home Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216423614
Miramar Beach Condo Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216423852
Santa Rosa Beach Home Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216423663
Santa Rosa Beach Condo Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216424298
30A Home Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216423693
30A Condo Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216424549
Destin to 30A Townhome Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216424906
Destin to 30A Land Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216425667
Destin Home Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216426228
Destin Condo Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216426711
Miramar Beach Home Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216426317
Miramar Beach Condo Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216427016
Santa Rosa Beach Home Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216426441
Santa Rosa Beach Condo Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216427414
30A Home Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216426503
30A Condo Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216427577
Destin to 30A Townhome Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216427580
Destin to 30A Land Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216427582

Destin Home Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216423550
Destin Condo Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216423734
Miramar Beach Home Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216423614
Miramar Beach Condo Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216423852
Santa Rosa Beach Home Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216423663
Santa Rosa Beach Condo Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216424298
30A Home Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216423693
30A Condo Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216424549
Destin to 30A Townhome Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216424906
Destin to 30A Land Foreclosures-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216425667
Destin Home Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216426228
Destin Condo Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216426711
Miramar Beach Home Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216426317
Miramar Beach Condo Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216427016
Santa Rosa Beach Home Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216426441
Santa Rosa Beach Condo Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216427414
30A Home Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216426503
30A Condo Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216427577
Destin to 30A Townhome Short Sales-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216427580
Destin to 30A Land Short Sales-
[URL="http://ecarmls.com/EmeraldReports/listings.asp?ID=7216427582"]http://ecarmls.com/EmeraldReports/listings.asp?ID=7216427582[/URL]

how about pt. washington??

Pt Washington-
http://ecarmls.com/EmeraldReports/listings.asp?ID=7216428102

Thanks Josh for all the listings.

I still can't get over how some folks thought an 800sf 80's era condo was worth almost 1/2-Mill :shock:
But it makes it easier to see why our financial system is in the crapper today.

.

Thanks Josh for all the listings.

I still can't get over how some folks thought an 800sf 80's era condo was worth almost 1/2-Mill :shock:
But it makes it easier to see why our financial system is in the crapper today.

.

It's funny to hear "our financial system is in the crapper" I know it's true, but it's still a funny adjective.


Josh, I read the short sales section and it still reads to me as a sales pitch more than as a fact. What's the point of showing a price on a listing that is not the price that the public can pay? Haven't ECAR or another group created a more thorough policy on that yet?

It's hard for ECAR to control because it's the banks that aren't giving Realtors enough information. When you speak with the banks in regards to a short sale all they do is tell you to bring an offer. Many Realtors just continue dropping prices until they get an offer to take to the bank. Once they have declined an offer the Realtor should have a better idea of where the bank is at on the price. It's a very frustrating process.

The Realtors are better off getting a low ball offer right when they list a property so that they can find a price that the bank is willing to accept. It always helps to have an investor willing to buy any property at the right price. Some banks are very realistic and taking large losses while others don't understand the market and will end up forclosing on the property before it's over.

I have a short sale in Inlet Beach that the guy owes over $850,000. The bank is willing to take $460,000-$470,000 and the appraisel just came back at $525,000. This is realistic in my opinion. I put in an offer on an unfinished home on Holiday Isle that was listed at $999,000. We went in at $500,000 to feel them out and the bank came back at $1,450,000. 50% higher than the list price!!! You can see that some banks understand the market while others do not. Short sales can present a great way for a buyer to get a deal, but they need to have patience.

Hopefully the banks will begin to foreclose on these properties at a faster rate. The bank owned foreclosures are selling like hot cakes at this point. I know people who haven't made payments in 12 months and still haven't been foreclosed on. The longer these short sales drag out....the longer the market stalls.

Sorry for the rambling.

That one on Holiday Isle that was listed at 999, do you know what the mortgage payoff was?

Around the counter price. Just goes to show that the bank still thinks they're going to get the inflated 2005 price in this market.

...What's the point of showing a price on a listing that is not the price that the public can pay? Haven't ECAR or another group created a more thorough policy on that yet?

It's hard for ECAR to control because it's the banks that aren't giving Realtors enough information....

Aasolute, can you think of a policy which ECAR or another group could implement that would work? I cannot.

Regarding ECAR's control, ECAR can not tell agents where to price their listings.

I agree with SJ. It is very tough to come up with a blanket policy to fix this problem. The banks would be better off getting an appraisel and listing at that price to start off and reduce as time passes. Instead they give no information whatsoever and get offended when agents bring them ridiculous offers.

The process they now have in place does nothing but piss potential buyers off. I tell buyers going in that they may get a good deal and they may never even get an answer back from the bank.

Fannie Mae is going to start with two test markets, one in Orlando, giving the listing agent their acceptable price. If it sells more real estate, more quickly, they will extend that process into other markets, and other lenders may also catch on.

Fannie Mae is going to start with two test markets, one in Orlando, giving the listing agent their acceptable price. If it sells more real estate, more quickly, they will extend that process into other markets, and other lenders may also catch on.

I saw your post on that the other day. It seems that it would greatly help. The problem is that the banks will realize how bad their losses are. I think they prefer hiding their heads in the sand as the market continues to fall. The smart banks (ha) would be doing this already and selling properties at today's value and not waiting for the market to fall further.
I did see a foreclosure the other day in Crystal Beach that was on a vacation rental program. I thought that was interesting.

I saw your post on that the other day. It seems that it would greatly help. The problem is that the banks will realize how bad their losses are. I think they prefer hiding their heads in the sand as the market continues to fall. The smart banks (ha) would be doing this already and selling properties at today's value and not waiting for the market to fall further.
I did see a foreclosure the other day in Crystal Beach that was on a vacation rental program. I thought that was interesting.

It's starting to frustrate rental companies. Nothing like have 6 weeks of rentals to suddenly have to move because the bank has changed the locks. I think that rentals will see a lot more last minute bookings and even walk-ins.

It's starting to frustrate rental companies. Nothing like have 6 weeks of rentals to suddenly have to move because the bank has changed the locks. I think that rentals will see a lot more last minute bookings and even walk-ins.

I believe it. That's the first question I ask when I talk to someone about renting their house. I could see how it's a major problem for companies who have been renting these homes for years.

I believe it. That's the first question I ask when I talk to someone about renting their house. I could see how it's a major problem for companies who have been renting these homes for years.

The biggest problem is owners that know it's coming and don't have the OMB's or common courtesy to mention it to the rental company. A friend of mine had guests walk into an empty house because the owners knew the bank was coming. Gonna be an interesting summer.