tag:blogger.com,1999:blog-154975772008-05-16T12:20:36.761-07:00SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comBlogger120125tag:blogger.com,1999:blog-15497577.post-55561049441052811112008-03-18T00:37:00.000-07:002008-03-18T09:07:22.100-07:00

Yes, I know, it has been way too long. But at least we are starting to see some signs that we were in a real estate bubble...right?!?!? I guess when major a major Wall Street investment firm gets bought for $2 a share, something bad happened. But more on that later... I don't even know where to start right now. So many 'experts' said so much 'crap' during those booming 5-8 years (depending on

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-44875798962480466052008-01-18T01:01:00.001-08:002008-01-18T01:01:43.208-08:00

Wow, what interesting times we are in right now! American's largest lender Countrywide was teetering on the brink of bankruptcy. American Express has to write off a measly 480 million that borrowers didn't/couldn't pay. Citibank and Merrill Lynch are having some pretty large write downs. I mean, what is a few Billion here and there. What I find EXTREMELY interesting is this sentence regarding the

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-10119769503246654232007-12-26T13:11:00.000-08:002007-12-26T13:12:09.300-08:00

I hope everybody had a Merry Christmas and is looking forward to fun New Year’s celebrations with friends and family. For those of you that have been reading this blog since 2005, you know that my feelings regarding housing and the economy were not very positive as a whole. You cannot have hundreds of billions of dollars lent out to people that have no ability or inclination to make their ‘

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-71707602879277796972007-12-26T13:10:00.000-08:002007-12-26T13:11:17.304-08:00

I don’t have time for a long post right now, but I will expound on this later. Today marks the day that America goes bankrupt in more things than just it’s finances. We are bankrupt in personal responsibility, integrity, risk assessment, and admitting our mistakes. But look at the bright side…I have found the ‘next BUBBLE’ that exists in pandering, blaming others, and crying to politicians

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-51210802913768376682007-11-07T22:52:00.000-08:002007-11-07T22:53:07.927-08:00

I have been out of town for a rather large portion of the past 6 weeks. I have traveled all over the country and to our neighbors in Canada. I will say that it sucks to go to Canada and see ".90" taped to cash registers so 'we' would know that the US Dollar was only worth 90 cents to them. I don't have time for a long post, and honestly I don't know what else I can say that I haven't already. I

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-21270602007693536372007-09-19T02:13:00.000-07:002007-09-19T02:14:03.412-07:00

I don't have time for a long post right now, but I wanted to get my quick thoughts on the 50 basis point rate cut. Sadly, this will only make things worse in the long run. Unless the median income reaches into the 6-figure range over the next 1-3 quarters, this 50bp rate cut isn't going to save the housing market. It will be nice for some businesses and aspects of Wall Street, but remember that

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-62410495312517072092007-08-31T10:44:00.000-07:002007-08-31T10:54:22.063-07:00

I am so MAD you don't even know!!!!!!! I don't even know where to start. I will just make some bullet points and talk about them. I just want to get this post up quickly as I need to go make some money....not for myself, but for our new 'populist' society that is more focused on pandering to the group, than protecting the individual. As you probably know, President Bush spoke this morning on

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-31835177272066327842007-08-22T22:08:00.000-07:002007-08-22T22:12:34.661-07:00

I told you it was only a matter of time until the politicians started talking BAILOUT for people that bit off more than they could chew. They can't have it both ways (or can they). They can't have 70% 'home ownership' (more like home mortgageship) on one hand, and then use taxpayer money to say that nobody loses a house on the other. The thing is, 70% of the population probably shouldn't be

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-621861845130539852007-08-09T23:05:00.001-07:002007-08-09T23:05:58.040-07:00

First off, thanks to those people that keep commenting and e-mailing me their support even in periods of less than frequent postings. I know it seems like a lot is happening, and it is, but now that everybody (including people hand-writing fortune cookies in China...which just happen to be holding a couple hundred billion of our mortgage debt) now knows that there were some 'risk assessment'

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-15443217537336164622007-08-07T10:17:00.000-07:002007-08-07T10:18:21.212-07:00

Well, well, well…I hate to say “I told you so”, but imagine my surprise (or lack thereof) one morning last week when I saw the following headlines on the Drudgereport. COUNTRYWIDE: Rise in mortgage defaults among most creditworthy borrowers… California defaults hit 10-year high… Wisconsin foreclosures up 23%… MOODY’S: Housing difficulties cause for concern but no systemic threat… The one

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-47182669969655918602007-06-29T14:24:00.000-07:002007-06-29T14:25:02.175-07:00

I know I haven't posted much lately...hasn't been much to say. Sure, I could analyze the way things are falling out, but a million other people are doing that. I gave my input as to what I thought was going to happen, and for the most part, things are progressing as I said it would. That said, I have been busy lately starting a new company. When I have been working, I have a little

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-48460780930409787852007-05-14T21:51:00.000-07:002007-05-14T21:52:25.651-07:00

Yes, I know....it has been quite a while since the last post. I apologize. I have been out of town quite a bit, and I have been working on starting a new company. That said, this thing is going to take YEARS to pan out. I could write commentary everyday about what is going on, but I have other things occupying my time. Unfortunately, this blog doesn't 'pay the bills' for me. I enjoy doing

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-33733052763848969432007-03-27T12:06:00.000-07:002007-03-27T12:07:12.288-07:00

I know many of you are waiting for the next dose of subprime mortgage madness...don't worry...it is coming. I have been out of town quite a bit lately, and I am going to be gone a bit more. Don't worry though, you aren't going to miss anything as this mess is going to take years to pan out. This post should hold you over for a little while until I can get the next big post up. That said, I

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-30766677485634219752007-03-11T22:38:00.000-07:002007-03-11T22:43:34.182-07:00

Over the next week or so, I am going to show you...literally, why the subprime mortgage industry is imploding. I have known this was coming for a good 2+ years now. Those that have read this blog, and read my posts on Ben's blog, know that I have been saying these things for a long time. NOW, I am going to show you rate sheets and loan programs from various lenders. Some have already gone under,

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-7027292095375312232007-03-08T12:57:00.000-08:002007-03-08T12:58:04.207-08:00

I know, I know....it has been too long since my last post. I have been busy with other business interests yet still keeping an eye on the industry and what is going on. NOTHING that is happening should come as a surprise, especially to regular readers of this blog. I pretty much called how this was going to play out. Lets refresh and see where we are today. We have had rising inventories for

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-58177193646690987602007-02-15T22:41:00.000-08:002007-02-15T22:42:35.236-08:00

What?!?!? ...you ask. Maybe some of you have heard them already, but I just heard my first commercial on the radio that goes something like this (not exact by any means…waiting for it to come on again): “Do you have one of those ‘hard to understand’ mortgages that gives you several options to pay at the end of each month? Are your payments increasing and you were not aware of it. These ‘

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-1170405396815399782007-02-02T00:36:00.000-08:002007-02-02T00:36:36.870-08:00

If you didn't see this weekends Marketplace section in the OC register, you should check it out. Here is the link to the main article that was on the front page of the Marketplace section: Subprime's grip slips. This is the section that normally had articles about the unstoppable OC real estate market and how you should 'buy today'. I found the picture that was the backdrop for this article

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-1168933717723476822007-01-15T23:47:00.000-08:002007-01-15T23:49:21.543-08:00

I hope everybody is having a great 2007 so far. Let's see...Donald and Rosie are in a spat, Beckham is coming to Los Angeles, the Chargers blew another playoff game, and YES...real estate is still overpriced in many areas.I know it has been a while since my last post, but I am just here to casually remind you to do your own research and not buy into the latest and greatest marketing hype.I saw

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-1167611409277911502006-12-31T16:29:00.000-08:002006-12-31T16:30:09.316-08:00

I hope everybody had a great Christmas holiday and is looking forward to a Happy New Year and productive 2007!I have done some upgrades to the site software, so that should allow me to spend a lot less time managing the SPAM attacks, and getting new posts up! That said, apparently this blog 'Another FB' along with several of your other favorite 'real estate blogs' have been nominated for a REBA

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-1165913277679581542006-12-12T00:47:00.000-08:002006-12-12T00:55:38.636-08:00

This is what you call 'TOO LITTLE TOO LATE". While I'm somewhat glad that the media is talking about this now, why weren't they doing this 2 years ago?? Come on, it doesn't take an MBA (it only takes a clear head and a calculator) to figure out that this was a recipe for disaster, not success. What I am talking about, is this article from the LA Times titled: A Loan That'll Get Ugly Fast. I

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-1165479480824332242006-12-07T00:17:00.000-08:002006-12-07T00:22:28.606-08:00

I was out of town on the east coast for a little while catching up with friends, and going to the Army/Navy game in Philadelphia. Navy made it a 4 year sweep of both Army and Air Force...too bad they didn't play that well when I was there. Anyway, I have quite a bit on my plate right now, but lets look at a few things. First off, OwnIt Mortgage went down faster than a Pamela Anderson marriage.

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-1164702544750647172006-11-28T00:28:00.000-08:002006-11-28T00:33:20.056-08:00

Look at this latest report from the California Association of Realtors (CAR): 3Q 2006 First-time Buyer Housing Affordability Index (HAI). This is the part I find interesting...and for several reasons to be discussed below: ---------------- The minimum household income first-time buyers needed to purchase a home at $478,710 in California in the third quarter of 2006 was $98,890, based on an

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-1163789279133910932006-11-17T10:47:00.000-08:002006-11-17T23:30:18.946-08:00

Yesterday, we got an inside look at the appraisal side of the business courtesy of a long time appraiser in the Orange County area better know to us as OC Appraiser. That post sparked some good comments and e-mails. One of the most common questions was "how can I find a good appraiser?" that will give me an honest representation of the value of my home at any given time. There was also quite a

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-1163634520659099192006-11-15T15:44:00.000-08:002006-11-15T19:49:24.286-08:00

There is a shift happening in this country in the ways that people get information. No longer are people held 'captive' by the big 3 network news shows, and a handful of national newspapers. The TV news ratings are slowly dropping, along with newspaper circulation of the 'big name' newspapers. This is due to the internet, and the fact that people can get information from other places. Sure,

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.comtag:blogger.com,1999:blog-15497577.post-1163401082058523152006-11-12T22:57:00.000-08:002006-11-13T07:47:24.876-08:00

I know, it has been a month or so since my last post. With the amount of 'housing bubble' news that is hitting all aspects of the media, I started to figure that the blogs weren't needed as much as they were when 'nobody' was talking about a housing bubble. Well, I ended up having a good conversation with one of my long time readers. They said that a new post was needed from me now, more than

SoCalMtgGuyhttp://www.blogger.com/profile/17467248138790712902noreply@blogger.com