Maybe the sky is not falling after all?

[AAbsolute]

Where's your confirmation Scooter?

Do you really think JOE will enforce build outs? You seem to know a bunch about this stuff....

 

[scooterbug44]

I think they will issue extensions when pressed on the issue to avoid the money loss of buybacks and so that when the market picks back up there are still time pressures to fill in the neighborhoods.

And I don't know nearly as much about JOE as you think I do! ;-)

 

[AAbsolute]

I've seen the Memorandums of Agreement that JOE issues to first purchasers, but I can't imagine how they can modify the buildout's here and there without also recording modifications of the Memo's of Agreement. From a Title Insurance standpoint I just don't know how any Insurer of Title can feel safe issuing insurance against recored doc's that are possibly being modified at the leisure of the original Memo. Drafter. Then further, how do lenders know where they stand when they loan to the resale customer who is paying more then the Memo. is willing to repay in default.

Anyone????

 

[YoungFT]

An article appeared in the Aug 28 Atlanta Journal Constitution that flew all over me. While not directly relevant to the SoWal real estate market, I hope y'all won't mind if I vent out loud.

The story is about an event that did not occur at a realtor's open house but on the steps of the Georgia State Capitol. There weren't any balloons but there were plenty of buttons that said "Buy Now". The target market wasn't high end buyers but buyers who have not owned in the past 3 years and have incomes in the "middle" . And the head cheerleader wasn't a real estate professional but one of Georgia's two senators, Johnny Isakson, who was quoted in the article stating: "You will never see a better opportunity than the opportunity before us right now" (referring to buying a home).

Johnny Isakson made his money as a real estate broker before entering politics and since 2004, according to the FEC, has had over 25% of the contributions to his campaign come from the National Association of Realtors Political Action Cmtee.

Link below for FEC reports..

http://herndon1.sdrdc.com/cgi-bin/can_give/S6GA00119

The full article is here...

http://www.ajc.com/search/content/business/stories/2008/08/28/rally.html

I'm all for talking up the economy, being optmistic about the future and representing the interests of your constituents. But given the level of risk that's left in the market, isn't this a tad bit irresponsible for a US Senator?

 

[SHELLY]

An article appeared in the Aug 28 Atlanta Journal Constitution that flew all over me. While not directly relevant to the SoWal real estate market, I hope y'all won't mind if I vent out loud.

The story is about an event that did not occur at a realtor's open house but on the steps of the Georgia State Capitol. There weren't any balloons but there were plenty of buttons that said "Buy Now". The target market wasn't high end buyers but buyers who have not owned in the past 3 years and have incomes in the "middle" . And the head cheerleader wasn't a real estate professional but one of Georgia's two senators, Johnny Isakson, who was quoted in the article stating: "You will never see a better opportunity than the opportunity before us right now" (referring to buying a home).

Johnny Isakson made his money as a real estate broker before entering politics and since 2004, according to the FEC, has had over 25% of the contributions to his campaign come from the National Association of Realtors Political Action Cmtee.

Link below for FEC reports..

http://herndon1.sdrdc.com/cgi-bin/can_give/S6GA00119

The full article is here...

http://www.ajc.com/search/content/business/stories/2008/08/28/rally.html

I'm all for talking up the economy, being optmistic about the future and representing the interests of your constituents. But given the level of risk that's left in the market, isn't this a tad bit irresponsible for a US Senator?

Once a Realtor?...always a Realtor?.

.

 

[Miss Critter]

I knew YoungFT's post was shelly-bait.

 

[dunefrog]

An article appeared in the Aug 28 Atlanta Journal Constitution that flew all over me. While not directly relevant to the SoWal real estate market, I hope y'all won't mind if I vent out loud.

The story is about an event that did not occur at a realtor's open house but on the steps of the Georgia State Capitol. There weren't any balloons but there were plenty of buttons that said "Buy Now". The target market wasn't high end buyers but buyers who have not owned in the past 3 years and have incomes in the "middle" . And the head cheerleader wasn't a real estate professional but one of Georgia's two senators, Johnny Isakson, who was quoted in the article stating: "You will never see a better opportunity than the opportunity before us right now" (referring to buying a home).

Johnny Isakson made his money as a real estate broker before entering politics and since 2004, according to the FEC, has had over 25% of the contributions to his campaign come from the National Association of Realtors Political Action Cmtee.

Link below for FEC reports..

http://herndon1.sdrdc.com/cgi-bin/can_give/S6GA00119

The full article is here...

http://www.ajc.com/search/content/business/stories/2008/08/28/rally.html

I'm all for talking up the economy, being optmistic about the future and representing the interests of your constituents. But given the level of risk that's left in the market, isn't this a tad bit irresponsible for a US Senator?

As long as the buyer can pay his mortgage, I don't see what the problem is. The banks will be taking a much more sober look at borrowers than they did a few years ago.

Why should it matter that he is middle class? If he has good credit and his ratios are in line, go for it. He has to live somewhere. His new house payment may be less than his rent.

Life goes on.

 

[SHELLY]

"Now is a great time to buy!"
(This has been a paid political announcement)
.

 

[dunefrog]

And I heard Isakson likes granite countertops and stainless steel...

'nuff said