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NewportSkipper_IHB
Guest
awgee said:It is a leap of faith to believe anything other than what has proven to be true.
What has proven to be true is stabilization. We're not discussing Perris.
awgee said:It is a leap of faith to believe anything other than what has proven to be true.
RoLar_USC said:bltserv said:People tend to really want to believe in the industry they have chosen as a profession. They become passionate in their belief system
that a positive attitude about market conditions is necessary. Sadly the Real Estate and Mortgage Business in Orange County is going through
a once in a hundred year market cycle. Its difficult to sell a product that will be worth less in a few months and may not appreciate for
many years to come. (Kind of like selling electronics. Price is always falling).
The trick is to unhook your emotion in the transaction/sales process. We got a couple emotional guys here in Skippy and Robert.
Come on over to the "Dark Side". The force of this board is not with you when you blow smoke that "all is well and getting better" in this current market cycle.
Sorry, but that's just a cop-out to completely disregard our posts. There is plenty of supporting data, which we continue to post.
When it comes down to, only time will tell. The next 6 months will definitely tell if we hit the bottom or are a long ways away.
Of course you aren't. That would require work, research, effort, and the ability post links. It was too much to ask of you, I know. I'll keep your handicaps in mind from now on.NewportSkipper said:I am not going to explore your posting history, especially in light of the fact that I understand you haven't written much lately.
However, I will run with this:
"The consensus of people who look at the data objectively is that prices aren’t done dropping and the shadow inventory is going to tank everyone’s equity when it hits the market. You are free to interpret the data as you see fit, but unless your data, sources, and analysis are rock solid and irrefutable, you are going to be challenged."
The data support that prices, with a few exceptions, are done dropping. Whether they resume dropping based upon shadow inventory is an entirely different matter. I know it's nuanced, but it is a rock solid and irrefutable fact at this moment in time.
...
Graphrix, your chart shows 674 REOs sold in July. An average escrow would fall somewhere between 1-4 months. Lets call it 2.5 months. Would it not be reasonable to assume that there are 2.5 x 674 REOs somewhere with deals in the works, or do you think they appear out of thin air and go straight to closing?
Awgee, Aliso Viejo had 15 REOs sold in July. Would it not be reasonable to assume 2.5 x 15, or 37 REO homes are in escrow as well?
No-Vaseline, I wouldn’t say you were a liar, but I would say you are confused. If you believe Graphrix, there are 8,000 REO unaccounted for. How many streets are there in Orange County? Your tale of over 1 per street would seem to be a stretch. If you had said they had NODs or NTSs, I might go along with it, but foreclosed but not listed isn’t cutting it for me. I also think you’re confused about the value of the home in question. Two hundred fifty thousand will barely get you 1,200 in Anaheim or Santa Ana, so unless that’s where you’re talking about, I’d say you are exagerrating.
...
And my name isn't Dan and I don't appreciate the snide comments and cute name you think you came up with. You should be ashamed of your conduct.
bltserv said:RoLar_USC said:bltserv said:People tend to really want to believe in the industry they have chosen as a profession. They become passionate in their belief system
that a positive attitude about market conditions is necessary. Sadly the Real Estate and Mortgage Business in Orange County is going through
a once in a hundred year market cycle. Its difficult to sell a product that will be worth less in a few months and may not appreciate for
many years to come. (Kind of like selling electronics. Price is always falling).
The trick is to unhook your emotion in the transaction/sales process. We got a couple emotional guys here in Skippy and Robert.
Come on over to the "Dark Side". The force of this board is not with you when you blow smoke that "all is well and getting better" in this current market cycle.
Sorry, but that's just a cop-out to completely disregard our posts. There is plenty of supporting data, which we continue to post.
When it comes down to, only time will tell. The next 6 months will definitely tell if we hit the bottom or are a long ways away.
I had this same discussion with my Real Estate Agent about 6 months ago. She spent an hour showing me her selected data that supported her
opinions. Since then she has had 3 Arizona properties go to foreclosure that were part of her investment portfolio. We still keep in touch.
These days she is doing modifications. But still has her eye open for the property I will eventually purchase when my judgement
tells me we really have reached some type of bottom to these falling prices.
I am not disregarding the "cherry picked" data points you present. I am telling you to go do the "Cheerleader" act to somebody that will buy the BS.
IMO. The Theatre is on fire and you want to sell more tickets. I say NO THANKS. I will watch it burn from the outside safely.
Your opinion is tainted because you want/need a commission check. If your really good you can sell with out the "Cheerleader Act" bytheway.
A real sales guy can sell ice to eskimo`s.
Nude said:Of course you aren't. That would require work, research, effort, and the ability post links. It was too much to ask of you, I know. I'll keep your handicaps in mind from now on.NewportSkipper said:I am not going to explore your posting history, especially in light of the fact that I understand you haven't written much lately.
However, I will run with this:
"The consensus of people who look at the data objectively is that prices aren’t done dropping and the shadow inventory is going to tank everyone’s equity when it hits the market. You are free to interpret the data as you see fit, but unless your data, sources, and analysis are rock solid and irrefutable, you are going to be challenged."
The data support that prices, with a few exceptions, are done dropping. Whether they resume dropping based upon shadow inventory is an entirely different matter. I know it's nuanced, but it is a rock solid and irrefutable fact at this moment in time.
Which data? Where? Links, sources, cites, graphs? Anything other than your assertion? I saw this:
...
Graphrix, your chart shows 674 REOs sold in July. An average escrow would fall somewhere between 1-4 months. Lets call it 2.5 months. Would it not be reasonable to assume that there are 2.5 x 674 REOs somewhere with deals in the works, or do you think they appear out of thin air and go straight to closing?
Awgee, Aliso Viejo had 15 REOs sold in July. Would it not be reasonable to assume 2.5 x 15, or 37 REO homes are in escrow as well?
No-Vaseline, I wouldn’t say you were a liar, but I would say you are confused. If you believe Graphrix, there are 8,000 REO unaccounted for. How many streets are there in Orange County? Your tale of over 1 per street would seem to be a stretch. If you had said they had NODs or NTSs, I might go along with it, but foreclosed but not listed isn’t cutting it for me. I also think you’re confused about the value of the home in question. Two hundred fifty thousand will barely get you 1,200 in Anaheim or Santa Ana, so unless that’s where you’re talking about, I’d say you are exagerrating.
...
But there aren't any facts in there, just supposition that isn't supported by any cite, source, link or attribution. Hardly rock solid and irrefutable. I went through all your posts and you refused to provide any of the sources for your "facts" (not even a screen shot), which means that you haven't proven anything, merely asserted some statement to bootstrap your own point of view. That kind of argument will get you nowhere here, even if you are correct in your assertions, because no one on the internet is just going to take your word for it.
And my name isn't Dan and I don't appreciate the snide comments and cute name you think you came up with. You should be ashamed of your conduct.
I was going to call you Malibu Barbie but Mattel has some vicious lawyers. You jumped into this thread on the attack, involving yourself in a debate that had sprung up between graphrix and RL, with the apparent intent of taking cracker cakes down a notch. You were admonished by two different mods on multiple occasions, you even acknowledged you were being an ass, and still... you persisted in the name calling, the personal attacks, and the derogatory language. Until you settle down and act like you deserve the respect you are demanding, I will call you whatever I deem appropriate, Skipper Dan.
NewportSkipper said:Nice try, but there are dozens and dozens of rock solid, irrefutable facts in these threads provided by me. I don't see anything other than personal attacks from you, which is apparently why you slithered away at some point. I anxiously await that happening again soon. If you open your eyes, you will also see that I provided the information that there are many REOs on MLS, which Rob validated and were not counted in the 8,000. But nooooo, that is too much for you to digest.
Nude said:NewportSkipper said:Nice try, but there are dozens and dozens of rock solid, irrefutable facts in these threads provided by me. I don't see anything other than personal attacks from you, which is apparently why you slithered away at some point. I anxiously await that happening again soon. If you open your eyes, you will also see that I provided the information that there are many REOs on MLS, which Rob validated and were not counted in the 8,000. But nooooo, that is too much for you to digest.
Again, what you provided cannot be called "facts" as they are unsourced, undocumented elsewhere, and not privy to public scrutiny. Give us something that can be independently verified and then you might be taken seriously.
NewportSkipper said:Nude said:NewportSkipper said:Nice try, but there are dozens and dozens of rock solid, irrefutable facts in these threads provided by me. I don't see anything other than personal attacks from you, which is apparently why you slithered away at some point. I anxiously await that happening again soon. If you open your eyes, you will also see that I provided the information that there are many REOs on MLS, which Rob validated and were not counted in the 8,000. But nooooo, that is too much for you to digest.
Again, what you provided cannot be called "facts" as they are unsourced, undocumented elsewhere, and not privy to public scrutiny. Give us something that can be independently verified and then you might be taken seriously.
Ok, here's a quick and easy way to shut you down: I provided rock solid, irrefutable evidence that several REOs on Foreclosure Radar in fact closed escrow last year. This was confirmed by Robert and (graciously) by Graphrix.
Your turn.
Okay, you have “proven” three on my list are no longer REO, that still means there are 12 REOs unaccounted for. Lets just give you the benefit of the doubt, and I’ll give you two more for a total of 5, and 10 for me. Mmmm… still looks like the majority of my list is REO, and that means 10 more REOs sitting there rotting on the banks books. Given that even though my list wasn’t correct, the majority of it was.
...
I proved there were more REOs unaccounted for than the list Robert used. It means the months supply of inventory is higher than you say, and shows you should show some respect to people who do know what they are talking about. Just like I told Robert, you might learn something.
NewportSkipper said:Nude said:NewportSkipper said:Nice try, but there are dozens and dozens of rock solid, irrefutable facts in these threads provided by me. I don't see anything other than personal attacks from you, which is apparently why you slithered away at some point. I anxiously await that happening again soon. If you open your eyes, you will also see that I provided the information that there are many REOs on MLS, which Rob validated and were not counted in the 8,000. But nooooo, that is too much for you to digest.
Again, what you provided cannot be called "facts" as they are unsourced, undocumented elsewhere, and not privy to public scrutiny. Give us something that can be independently verified and then you might be taken seriously.
Ok, here's a quick and easy way to shut you down: I provided rock solid, irrefutable evidence that several REOs on Foreclosure Radar in fact closed escrow last year. This was confirmed by Robert and (graciously) by Graphrix.
Your turn.
graphrix said:NewportSkipper said:Nude said:NewportSkipper said:Nice try, but there are dozens and dozens of rock solid, irrefutable facts in these threads provided by me. I don't see anything other than personal attacks from you, which is apparently why you slithered away at some point. I anxiously await that happening again soon. If you open your eyes, you will also see that I provided the information that there are many REOs on MLS, which Rob validated and were not counted in the 8,000. But nooooo, that is too much for you to digest.
Again, what you provided cannot be called "facts" as they are unsourced, undocumented elsewhere, and not privy to public scrutiny. Give us something that can be independently verified and then you might be taken seriously.
Ok, here's a quick and easy way to shut you down: I provided rock solid, irrefutable evidence that several REOs on Foreclosure Radar in fact closed escrow last year. This was confirmed by Robert and (graciously) by Graphrix.
Your turn.
You proved SOME of the REOs I posted had changed hands, not ALL the REOs. Why? Because they haven't changed hands. All that says is you have to scrub the data carefully, which I had asked Robert to do, but that would require work. In conclusion of that whole debate, it proved that regardless of a few changing hands, Robert was still under-counting the total amount of REOs out there.
And Nude has a very good point, cite your sources to prove your point. Otherwise... they are just words of Kool-Aid blown air.
NewportSkipper said:"All that says is you have to scrub the data carefully..."
It was your data that needed scrubbing and it was up to you to do it. That's not Robert being lazy.
graphrix said:NewportSkipper said:"All that says is you have to scrub the data carefully..."
It was your data that needed scrubbing and it was up to you to do it. That's not Robert being lazy.
Wrong! It was up to Robert to go through my data of 188 properties, or go through the data of 70 some properties that awgee gave him. He took the easy route, and he didn't want to scrub the data, therefore he is lazy. If Robert or you would like for me to scrub the data for you, I would be happy to do that. Just let me know where to send the bill, er... for people in the RE industry I only take credit cards now, and there will be an up front retainer fee of 50% of the estimated hourly rate. Let me know if you are interested in my services... until then, Robert can scrub the data himself when he asks for it.
bltserv said:RoLar_USC said:bltserv said:People tend to really want to believe in the industry they have chosen as a profession. They become passionate in their belief system
that a positive attitude about market conditions is necessary. Sadly the Real Estate and Mortgage Business in Orange County is going through
a once in a hundred year market cycle. Its difficult to sell a product that will be worth less in a few months and may not appreciate for
many years to come. (Kind of like selling electronics. Price is always falling).
The trick is to unhook your emotion in the transaction/sales process. We got a couple emotional guys here in Skippy and Robert.
Come on over to the "Dark Side". The force of this board is not with you when you blow smoke that "all is well and getting better" in this current market cycle.
Sorry, but that's just a cop-out to completely disregard our posts. There is plenty of supporting data, which we continue to post.
When it comes down to, only time will tell. The next 6 months will definitely tell if we hit the bottom or are a long ways away.
I had this same discussion with my Real Estate Agent about 6 months ago. She spent an hour showing me her selected data that supported her
opinions. Since then she has had 3 Arizona properties go to foreclosure that were part of her investment portfolio. We still keep in touch.
These days she is doing modifications. But still has her eye open for the property I will eventually purchase when my judgement
tells me we really have reached some type of bottom to these falling prices.
I am not disregarding the "cherry picked" data points you present. I am telling you to go do the "Cheerleader" act to somebody that will buy the BS.
IMO. The Theatre is on fire and you want to sell more tickets. I say NO THANKS. I will watch it burn from the outside safely.
Your opinion is tainted because you want/need a commission check. If your really good you can sell with out the "Cheerleader Act" bytheway.
A real sales guy can sell ice to eskimo`s.
No_Such_Reality said:Only one thing will solve this dispute.
April 2010.