This is a joke ....right? --How sad are some people? Ok -=--Simeon is cute, but what is he..err 5? 6? maybe even 4? -- How do you justify posting your child on a web page entitled Sexy People??/ What about the mentality of thinking " I'm Sexy, yeah, and i know it.....and I want the world to know it, so i'm going to post my portrait too.....with all those other Sexy People!"
Maybe they really are sexy, but just not in appearance per say. I am a true believer that beauty is in the eye of the beholder. I watched "Shallow Hal" too...... I get it, and I am not a "Shallow Hal," BELIEVE ME those are secrets that will die with me.
Pretty funny looking web site....hate doing the laughing at someone else's expense. What am I saying---No I Don't-- I like laughing at other peoples expense-----These are RETARDS posting their UNSEXINESS to a page Titled SEXY! Funny shit---
Friday, March 13, 2009
Friday, March 6, 2009
Appraisers--------Get a rope....
After reading today's L.A> Times A1 article , it donned on me that one key industry which has gone completely unnoticed and almost completely unaccountable for participating in blowing the housing bubble to an unsustainable pressure is the Appraisal Industry. When everyone is saying what the "value" is - they mean the results this occupation concludes with. . How do you not believe it (the "value") when an accredited professional comes to your house - spends one hour measuring the rooms, 20 minutes listing the amenities, and another hour on the computer listing regional com-parables - to tell you YES--your house is worth what the mortgage broker / real estate agent needs it to be worth in order to meet the loan to value requirements the lender may have set? Of course your going to believe it. But it was all bullshit as we all know. and of course they get paid at least a four digit fee for a little more than 2 hours worth of work It was what we call a racket.
In the end, the market determines the value, obviously -- what something is worth is always contingent on what someone is willing to pay. Simple market principle. Com parables are what they are, and if a new buyer next door paid X for a house similar to yours, that is fair to say your house is in the ballpark of X. But what happened at the peak of this bubble was an upward dynamic of appraising so that when the new buyer bought in September lets say, the value of your house 5 months later was value X plus Y since so much time was going by and the market was red hot. That's where we got into trouble, a frenzied mess of overinflated appraisals, time dependent and absolutely thoughtless. Timber, nails, and concrete cost what they cost - how does the value then jump threefold in a span of five years?? It doesn't, but we didn't know any better. We believed it what they told us, and we acted foolishly in that exuberance - no doubt.
So now nearly one third of California homeowners are too deep "under water" with their home mortgages which thereby disqualifies them from the Obama admin plan of 105 percent loan to value solution -- Question is how are we ever going to trust the appraised value? It appears to me that the pressure will be back on this industry to fudge the numbers once again in order for qualifications to be made. What do you do to know the true "value" without actually putting your house on the market?
What a corrupt fucking mess this is.
In the end, the market determines the value, obviously -- what something is worth is always contingent on what someone is willing to pay. Simple market principle. Com parables are what they are, and if a new buyer next door paid X for a house similar to yours, that is fair to say your house is in the ballpark of X. But what happened at the peak of this bubble was an upward dynamic of appraising so that when the new buyer bought in September lets say, the value of your house 5 months later was value X plus Y since so much time was going by and the market was red hot. That's where we got into trouble, a frenzied mess of overinflated appraisals, time dependent and absolutely thoughtless. Timber, nails, and concrete cost what they cost - how does the value then jump threefold in a span of five years?? It doesn't, but we didn't know any better. We believed it what they told us, and we acted foolishly in that exuberance - no doubt.
So now nearly one third of California homeowners are too deep "under water" with their home mortgages which thereby disqualifies them from the Obama admin plan of 105 percent loan to value solution -- Question is how are we ever going to trust the appraised value? It appears to me that the pressure will be back on this industry to fudge the numbers once again in order for qualifications to be made. What do you do to know the true "value" without actually putting your house on the market?
What a corrupt fucking mess this is.
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