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Just a Thought...
Written by Seth Chalnick | November 12, 2009 6:52 PM Market Conditions in San Diego CountyNo comments | 11 views
Is it just me?
Alan Greenspan
Woody Allen -
4424 Calle Mar De Armonia
Written by Seth Chalnick | November 10, 2009 7:27 PM Home Buying in Carmel ValleyNo comments | 22 views
5bd/3ba mountain/hill view with turnkey upgrades in Carmel Valley.
A few words from the client...
"Seth's attention to detail, strong negotiating skills and expertise in real estate as well as loan processing was critical in making my first-time home buying experience a successful one. He was truly a partner from beginning to end - he listened and created a plan based on my needs, provided excellent counsel when asked and walked me through every stage of the process. I am so happy to have worked with Seth as his leadership and no pressure approach was the perfect fit for me - I'm looking forward to building lots of good memories in my new home!"
-Navjot R. -
Market Imbalance
Written by Seth Chalnick | October 15, 2009 8:10 PM Market Conditions in CardiffNo comments | 87 views
Impossible SeeSaw
Originally uploaded by R_Thull
Check this out... to keep abreast of local sales trends, I activley monitor MLS inventory in the territory that includes: Solana Beach, Cardiff, and Encinitas.This year 78% of sales in this territory closed below $1 million... while the current asking price for 63% of homes that are actively listed for sale are above $1 million.
I thought this was interesting, so I checked the stats for the entire San Diego MLS... 80% of sales closed below $500k... while the asking price of 58% of homes actively listed for sale are above $500k.
On 12/12/2008 I went on record in an article published on Seeking Alpha, called "Market Prices: The Great Chasm" calling for a significant "Prime market" correction. Here is an excerpt.
“Prime” homes will also decline in value. My call is 35%-40% off peak prices. Only this time, the real drivers of economic stimulus, the small business class, will cut back spending for real. And lay people off. And cash out investments. And sell assets below value.
Major banks who have just received unprecedented amounts of cash infusions to plug up cartoon-like, bullet-ridden lending ratios will have to address the fact that depreciation of portfolios to date only reflects subprime default-related losses.
Maybe I should have entitled this article, “Market Prices: Which Chasm is Greatest?"It was the adjusting of prime loans from "interest/only" to "principal and interest" that I predicted would stress the system. These loans are starting to adjust now. Houston, stand by.
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Falling Up: The New Business Model
Written by Seth Chalnick | October 5, 2009 9:47 AM Market Conditions in San Diego2 comments | 73 views
I am happy to report that my latest Seeking Alpha article submission was published this morning.
To view it, click here.
Seeking Alpha handpicks articles from the world's top market blogs, money managers, financial experts and investment newsletters - publishing approximately 175 articles daily. SA was named the Most Informative Website by Kiplinger's Magazine and has received Forbes' 'Best of the Web' Award. -
There's a Financial Elephant In The Room
Written by Seth Chalnick | October 5, 2009 9:19 AM Market Conditions in San DiegoNo comments | 87 views
When folks say "there's an elephant in the room", they are referring to an important and obvious topic, which everyone present is aware of, but which isn't discussed, as such discussion is considered tbe uncomfortable.
Well in today's bankerment cirlcles there is a humungous, hungry, stinky elephant, and it looks very silly covered up by a blanket.
For a succinct overview of the problems that led to our banking crisis, and the reasons we are still in for very rough ride, you just have to watch this interview of Janet Tavakoli (a structured finance expert) by Max Keiser, a popular media broadcaster. They do a brilliant job of distilling the facts into laymen's terms. -
Hot Listing Alert
Written by Seth Chalnick | October 4, 2009 11:33 AM Home Buying in CardiffNo comments | 65 viewsHey, I posted this on 10/4... predicting it would go pending within a week. It went pending the next day! I guess I do know my shizzle.
Bet this listing goes pending within a week:
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4 Types of Transactions I Do Not Execute
Written by Seth Chalnick | October 2, 2009 11:24 PM Market Conditions in San DiegoNo comments | 142 views
- Short Sale Listings- Click to see why. In addition to this link, which describes why I direct buyers to look at short-sales only as a last resort... I suspect, down the road, the folks who "successfully sell short" may look to place blame elsewhere if and when they find out they may still be on the hook for tax consequences and credit problems.
- Loan Modifications- Click to see why.
- Hard Money Loans- Click to see why. Also, while this could technically be a helpful tool for some specific scenarios, in my experience, the only deals the lenders make are the ones where the scale is tipped way in their favor... away from the borrower, who has everything to lose... and often does.
- Reverse Mortgages- Click to see why.
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