Sunday, April 15, 2007

Some Real Estate News and Notes

In the coming week a variety of banks will be posting results. Who will be stung by subprime woes and the emerging problem of Alt-A? An analyst at Morningstar recently crunched some numbers and under worst case scenarios, Indymac (NDE) and Washington Mutual (WM) could see big losers in the Alt-A mess - Indymac in particular. It seems to me, however, that the CFA at Morningstar was pretty conservative in the value of the loans; things, perhaps, could even be worse than the number contained in the report. We'll see.

Here's an incredible story about, the internet site the gives estimates on home values. It has gotten under the skin of of real estate authorities in Arizona. Yes, the Arizona Board of Appraisal is a censorship agency... Did they call Communist China for advice? You can't make this stuff up.

Here's an interesting Craigslist ad that's been up for the past few days in the Balto area... someone wants out of a deal.

Ol' Nancy here has an uphill battle here for the simple reason that the mortgage broker was often the closest advocate the borrower had signing all the papers at the closing table. D'oh!

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