Maryocon

http://www.maryoconnell.com

5 Comments

    • Bracing for Another Round of Credit Related Woes [view article]
      The Real Estate market is bottoming at least in most of California. I am not sure about the hardest hit areas but I sure see the bottom here in Sonoma county. It will take awhile, probably a couple of years before it completly turns and starts heading up again, but if someone wants to get in on the bottom now is the time to do it. This is my third Real Estate downturn and the end is finally in sight. Aug 31 01:06 PM
    • What's Ahead for Real Estate: Doing the Math [view article]
      The problem with using a "wrap" or lease option/lease to own is that if they are recorded, and the lender catches it, they can call the loan. Right now fraud is big on the lender's agenda and anything that they can do to get the loan called they will do. Apr 17 02:37 PM
    • What's Ahead for Real Estate: Doing the Math [view article]
      I will agree with the above comment.

      Take over my mortgage doesn't work, we don't have takeover loans anymore, there are due on sale clauses on all loans.

      I sell REO's and until those stop or slows down to where inventory is being reduced, we will not see an end to this crisis. When an REO comes on the market it is usually priced lower than the previous one that came on the market in order to get it sold. This is why we are getting the downward spirial and this is why this mess is going beyond the sub-prime and into the alt-A loans and the prime loans. Houses are not worth the mortgage people are paying and they are walking away. This will continue until something is done to stop the foreclosures.

      The powers that be don't get it. They are so worried about "moral hazard" the buzz word of the free market and trickle down group...that they can't see the forest for the trees. It is common sense not economic jiberish.       Apr 17 10:11 AM
    • Bernanke to the Rescue: Homebuilders Bounce - For Now [view article]
      What the market is not aware of and what the public is not aware of is that their has been a major increase in buyers coming back into the housing market. Over the next couple of months you will see a major upturn in the housing stats. I know because I am on the front line and I am receiving the calls. Housing is more affordable, their is a glut of foreclosures on the market bringing prices down. People are looking now for that good buy and they are finding it. Prices may still come down for another year but we are nearing the bottom if in fact we are not already there. Mar 12 10:18 AM
    • 8 Predictions for 2008 [view article]
      . The housing market will not bottom in the middle of next year. The housing market will not bottom until the inventory of homes on the market decreases from 1 year, plus or minus, to six or 8 month. It will not bottom until the affordability factor reaches at least 40+%. We are not even close to that figure in most parts of the country. It will not bottom until credit is available to a wide variety of buyers and that does not look like it will happen in the near future. I just wish his prediction was correct but it isn’t even close. Dec 13 10:55 AM
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