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The "up-to-the-minute Market Data" thread

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posted on Jul, 9 2009 @ 10:24 AM
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reply to post by DaddyBare
 


That's crazy. I guess they figured it was a crash and then things will go back up. Sounds like the joke is on them.

I don't have a RealtyTrac account, but what kind of cheap are we talking? 20 grand 30 grand?

I remember a page or two back about how you and Marg were talking about property prices in Beverly Hills. That was crazy.

People say its a good time to buy real estate for investment purposes, but I don't know about that now. I was thinking the same way, but now trying to look out over the horizon and neglecting the fact that civil unrest is about to be upon us at some point in the near(no more than 2 years) future, I don't see how real estate is a good investment, the whole dynamics are changing.

It would really suck to drop 30 grand on a house and have the neighborhood turn into a section 8 paradise.




posted on Jul, 9 2009 @ 10:32 AM
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The real estate market has at least another 20% to drop before reaching bottom.

I wouldn't consider buying before fall 2010.

I suggest you avoid buying a condominium, because the co-owners could go bankrupt and you have to look for the quality of the construction when buying.. Because when the crash is over, the only thing that will go up is high quality houses.

[edit on 9-7-2009 by Vitchilo]



posted on Jul, 9 2009 @ 10:38 AM
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reply to post by Vitchilo
 


Unless I win the lotto or get rich somehow I won't be buying a house anytime soon.

I wouldn't even being to look at condo's. I can't stand apartment living. If I do buy a house I'll probably get a nice track of land and build one.



posted on Jul, 9 2009 @ 10:38 AM
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reply to post by Hastobemoretolife
 


There is one I'm going to bid on for my daughter... a 3bd 1 ba 1302 sq. ft. two story on a corner lot... starting bid is $2,500.... it's unlikely to sell above $5,000 but you never know... I wont go any higher... and no its not all tore up inside, well need some work obviously but not a lot... Some of those $1,000 houses they list are just gutted on the inside... they also tend to have lien's and other fees attached to them, not the deal you'd think...



posted on Jul, 9 2009 @ 10:43 AM
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reply to post by DaddyBare
 


For real ? Do you have a picture? Where is it located? Have you inspected it?

IMO if it's in a bad neighboorhood like detroit... waste of money.



posted on Jul, 9 2009 @ 10:46 AM
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reply to post by DaddyBare
 




I could probably swing something like that. That is a real good deal. The shell of a house for a grand is not a good deal at all. You are fast approaching real money when you get into renovations. When looking at stuff like that you do have to do a bit of extra work figuring out all the costs.

Good luck on getting the house.


[edit on 9-7-2009 by Hastobemoretolife]



posted on Jul, 9 2009 @ 10:52 AM
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Becareful with the morgage loans right now,

More good news.

Morgan Stanley Plans to Turn Downgraded Loan CDO Into AAA Bonds

I guess this people can not get away from the corruption of the great housing boom times.

More of Goldman Sach deals behind all this.

www.abovetopsecret.com...



posted on Jul, 9 2009 @ 10:56 AM
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Originally posted by Vitchilo
reply to post by DaddyBare
 


For real ? Do you have a picture? Where is it located? Have you inspected it?

IMO if it's in a bad neighboorhood like detroit... waste of money.
Well I'm not about to cut my own throat and invite people to bid against me but to be fair here's another prop this ones is on my also look at list in case this first falls through
This one will have a 5,000 opening bid maybe sells for $8k???



posted on Jul, 9 2009 @ 11:11 AM
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Anybody looking for a corrupted CEO for hire?, it seems that lately they have been a growth of CEOs availability around.



Citigroup announced its biggest management shake-up since the financial crisis began, replacing its chief financial officer and installing a new banking chief as it prepares to give the government a 34 percent equity stake.

The changes, announced on Thursday, come as Chief Executive Vikram Pandit faces intense pressure to improve performance, rebuild the executive ranks in consumer banking, and shed unwanted assets. Citigroup has lost $36 billion over six quarters and received a series of federal government bailouts.


They are letting him go so he doesn't have to answer to why Citibank is in the shape it is right now.

Dirty rats protecting their own corporate corrupted butts.


www.cnbc.com...



posted on Jul, 9 2009 @ 11:21 AM
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reply to post by Hastobemoretolife
 


Look since real estate is my gig and I've been doing it for 20 years let me say right now there are some once in a life time deals...if you do your homework... some major warning signs you'll find in the disclosure here's one from a prop that will auction on Sat,

Disclosures
BUYER ACKNOWLEDGES AND UNDERSTANDS THAT PROPERTY HEREIN MAY BE SUBJECT TO MULTIPLE CODE VIOLATIONS WITH THE CITY/COUNTY/BUROUGH AND BUYER ACCEPTS IN 'AS IS' CONDITION. BUYER ACCEPTS ALL RESPONSIBILITY FOR ANY REMEDIATIONS, FEES, OR TERMS REQUIRED BY THE AUTHORITY THEREOF, WHICH MAY OR MAY NOT INCLUDE DEMOLITION, ESCROW FEES, OR HABITATION CERTIFICATES.ONLY TITLE TO THE REAL ESTATE IS BEING CONVEYED. PERSONAL PROPERTY MAY BE PRESENT BUT IS NOT INCLUDED IN THE AUCTION. REMOVAL OF PERSONAL PROPERTY REMAINING ON SITE AT THE TIME OF CLOSING WILL BECOME THE RESPONSIBILITY OF THE NEW OWNER


Did you catch the part that said "DEMOLITION"? typically that means the city has condemned the house and while ten grand sounds cheap you might end up spending tenfold that to get it back to code...

On the other hand you see a lot of these... if you want to live in Casa Grande, AZ there will be a 2BR 1BA 840sf+\- mobile/mnftd home. Built 1994. Approx 2.5ac lot. starting bid of 1,000... what's the catch, your buying the land... the moble home is there but you'll have to file for a sheriff's title moble homes are registered with DMV and are treated kind of like a car...

Casa Grande House pay close attention to "Terms of sale you have a lot of added costs and some sales demand you pay in full within 24 hours

Edit to add final thoughts... can you really buy a house for $1,000... well no... you pay at least that, if not more to the auction house as their fee... then you have closing cost, now is not the time to take a quit claim deed, they could stick you with back taxes so depending on state and what lawyers fees are say another $1400 TO 2K to close...so lets say you win that $1,000 house at bid, your final cost is going to be just under five grand

[edit on 9-7-2009 by DaddyBare]



posted on Jul, 9 2009 @ 11:36 AM
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reply to post by DaddyBare
 


Lots of hidden fee's not all of them are good deals, I see what you are saying. Is that piece of property in a good location and can see major gains?

What I was alluding too is that there are some neighborhoods that might seems like once in a lifetime deals, but will turn out to be a horrible investment. I'm not saying that it will all be like that, but the future of the market is pretty unpredictable.

I'm sure there will still be some really good deals. As you said real estate is your thing, but is that a fair assessment that some neighborhoods will turn into trash and not be worth the investment at any cost?



posted on Jul, 9 2009 @ 11:51 AM
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reply to post by Hastobemoretolife
 


Casa Grande is one of those funny places in that it has a base near by, this one an airplane grave yard, Side story, last time I was there the place was filled with derelict "Air America" planes (Old CIA Op) you can find renters from the base, is it a good place to live??? that's up to you,I think it to hot myself, I was just saying...

If your really planing to that do so with the intent to stay there at least ten years... you need that mind set rather then thinnking you can fix it and flip it becasue it looks like we'll have another 3 years of crappy housing markets... now people do ask me about finding small farms to weather this storm... Good plan BTW and in that case you may want to check out this site Country Homes
I have the search set to show upcoming auctions first and remember if your the only bidder there that day you really set your on price



[edit on 9-7-2009 by DaddyBare]



posted on Jul, 9 2009 @ 12:33 PM
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reply to post by DaddyBare
 


Now that is more my speed, living in the country on a farm. Thanks for the links.

I really wouldn't be buying to "invest" it would be more to live long term. The thing I would worry about it picking a house out then the neighborhood going to hell.

Now I just have to come up with some cash.



posted on Jul, 9 2009 @ 12:53 PM
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Another great observation by John Galt for y'all to ponder...

HERE


While some of us were busy enjoying our last vacation we expect to take for quite a while in the Caribbean, the Japanese Yen was spiking in an unusual flight to safety last October which created the horrific prospect of a FOREX market problem for the dollar, which did not occur, and for our financial system, which did occur. After the failures of Lehman, Merrill, WaMu, and Wachovia, the TARP fiasco and collapse of the credit markets a true flight to safety happened and it was illustrated by the sudden spike in the Yen.

We have just witnessed 72 hours of this happening again and to say it is a precursor to another large event is an understatement. Someone big is in trouble, we the people just do not know who yet.


Something is definitely up.....and there are no logo models that will see this one coming



posted on Jul, 9 2009 @ 01:00 PM
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reply to post by RolandBrichter
 


With are all your bets people on this thread?

Goldman Sachs going down? AIG going to 0$? GE going to 2$?? Nothing?

[edit on 9-7-2009 by Vitchilo]



posted on Jul, 9 2009 @ 01:10 PM
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reply to post by Vitchilo
 


Not sure I understood your post, but here's my bet...


So for those that adhered to the programs of divide and conquer, maintaining the banking cabal using unethical and illegal means, and allowing criminals at the highest levels of business and government to enjoy their own system of economic consequences and laws, I hope you found it worth it as the nation around you collapses. Tossing a Madoff to the huddled masses every few months will do nothing to calm the rage nor fill the stomachs of the starving.



posted on Jul, 9 2009 @ 01:13 PM
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reply to post by Vitchilo
 


GS will never die. NEVER. Just look at the top advisers to Obama.. they reek of GS. I believe that so long as the Federal Reserve and the Federal Government exist, GS will remain strong. It's the life blood of the corrupt, and the corrupt reside in Washington, GS is going nowhere.



posted on Jul, 9 2009 @ 01:32 PM
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Originally posted by Rockpuck
reply to post by Vitchilo
 


GS will never die. NEVER. Just look at the top advisers to Obama.. they reek of GS. I believe that so long as the Federal Reserve and the Federal Government exist, GS will remain strong. It's the life blood of the corrupt, and the corrupt reside in Washington, GS is going nowhere.


Agreed....BUT...and I'm showing my cards a little...there is no telling how long GS' support system will remain intact....just my hunch but I think their best days are behind them...



posted on Jul, 9 2009 @ 01:46 PM
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reply to post by Rockpuck
 


They are going to seal their own fate eventually. With the governments help, I completely agree with you that the gov is not going to let GS die, but with their super trading algorithm out in the wild it is going to create major havoc.

I tell you the drop earlier today in the DOW was crazy at the opening it was up in the green then the very next second it went red instantly. The gov cant keep giving money to them to keep them afloat with out people eventually dissolving it by force.



posted on Jul, 9 2009 @ 02:08 PM
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reply to post by Hastobemoretolife
 


Maybe. Meanwhile:

Kohn Warns Less Fed Autonomy May Cause Higher Rates


“The insulation from short-term political pressures -- within a framework of legislated objectives and accountability and transparency -- that the Congress has established for the Federal Reserve has come to be widely emulated around the world,” Kohn said in testimony at a House Financial Services subcommittee hearing today on Fed independence.


And this made me LOL and almost roll out of my chair..


The vice chairman said the Fed is now more transparent than at any time since its creation almost a century ago. He cited steps this year to expand information on the Fed’s Web site on its programs and start a monthly report to Congress on the central bank’s emergency lending programs.


Kohn, he's a crazy fella aint he?

Goldman Sachs Trading Revenue May Beat Record


Six months ago, Goldman Sachs was supported by $10 billion from the U.S. Treasury and relied on government guarantees to issue debt. Moszkowski predicts the company will reap $26.45 billion from trading this year, a gain from $25.36 billion in 2007 when the firm shattered Wall Street profit records.


So... the GOV gave them $10b, they used $10b to trade with their super cool and fancy trading systems, reap a massive 20 some billion dollar profit, and basically go laughing all the way to the bank (oh wait, they are a bank). We all knew I suppose, that banks were using these funds to speculate oil, stocks and god knows what else.. Just wish they didn't have to rub it in our powerless faces.




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