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View Full Version : Nearly 9,000 foreclosed homes sell at auction in CA in July and 95% return to lender



FRED
08-16-07, 01:53 AM
http://www.itulip.com/images/uglydog.jpgForeclosureRadar™ (ForeclosureRadar.com (http://www.foreclosureradar.com/)) today released its July, 2007 California Foreclosure Report, showing a total of 8,716 homes sold at auction in July with a loan value of $3.5 Billion dollars, a 24.6 percent increase over June. Of these, 95 percent, or $3.33 Billion in loans, were returned to the lender with no bid from a 3rd party.

See press release here (http://www.foreclosureradar.com/press_release_070610.php).

Ok, so you're probably wondering, what's the significance of the dog?

Think of the dog as representing your house. When the market was hot, everyone thought he was cute. Now that it isn't, well, you might still love him because he's yours, but don't expect anyone else to.

bill
08-16-07, 02:02 AM
http://www.itulip.com/images/uglydog.jpgForeclosureRadar™ (ForeclosureRadar.com (http://www.foreclosureradar.com/)) today released its July, 2007 California Foreclosure Report, showing a total of 8,716 homes sold at auction in July with a loan value of $3.5 Billion dollars, a 24.6 percent increase over June. Of these, 95 percent, or $3.33 Billion in loans, were returned to the lender with no bid from a 3rd party.

See press release here (http://www.foreclosureradar.com/press_release_070815.php).


Next phase for insider cleanup.http://en.wikipedia.org/wiki/Resolution_Trust_Corporation

Jim Nickerson
08-16-07, 02:26 AM
http://www.itulip.com/images/uglydog.jpgForeclosureRadar™ (ForeclosureRadar.com (http://www.foreclosureradar.com/)) today released its July, 2007 California Foreclosure Report, showing a total of 8,716 homes sold at auction in July with a loan value of $3.5 Billion dollars, a 24.6 percent increase over June. Of these, 95 percent, or $3.33 Billion in loans, were returned to the lender with no bid from a 3rd party.

See press release here (http://www.foreclosureradar.com/press_release_070610.php).

Ok, so you're probably wondering, what's the significance of the dog?

Think of the dog as representing your house. When the market was hot, everyone thought he was cute. Now that it isn't, well, you might still love him because he's yours, but don't expect anyone else to.

That is one ugly dog. I'm camping near a guy whose last dog's name was Fugly. I asked, "Why Fugly?" Reply, "Because he was ******* ugly."

Your dog must be Fugly II.

FRED
08-16-07, 02:41 AM
That is one ugly dog. I'm camping near a guy whose last dog's name was Fugly. I asked, "Why Fugly?" Reply, "Because he was ******* ugly."

Your dog must be Fugly II.

This mutt is fugly squared.

c1ue
08-16-07, 06:41 AM
Unfortunately the vast majority of these foreclosed homes are still in specific outlying areas of the Bay Area, San Diego, and Los Angeles.

I'm still not seeing that much pain in San Francisco; will be in LA in 3 weeks and will look around then.

Certainly the pool houses are no longer being successfully sold as property - my mother has been looking to move from Central CA to LA for some time but refused to pay what she thinks (and I agreed) were ridiculous prices.

Her last foray last year was a ~1000 sq. foot property on the same street as my aunt (her sister); it turned out to be a converted pool house in the back of one of my aunt's neighbor's yard. Asking price $550,000!

Charles Mackay
08-16-07, 08:32 AM
I'm going to the pound to get one of those critters. Looks like the perfect companion for the coming debacle and TEOTWAWKI ! :eek:

Jim Nickerson
08-16-07, 10:24 AM
This mutt is fugly squared.

Consider putting "fugly" as an adjective in the iTulip glossary.

Example. Today on Wall Street is fugly.

Ed
08-16-07, 02:15 PM
Trade-off: Suppose your broker looked like this dog but did NOT keep real asset price histories out-of-sight.
http://homepage.mac.com/ttsmyf/RD_RJShomes_PSav.html

FRED
08-16-07, 02:34 PM
ForeclosureRadar™ (ForeclosureRadar.com (http://www.foreclosureradar.com/)) today released its July, 2007 California Foreclosure Report, showing a total of 8,716 homes sold at auction in July with a loan value of $3.5 Billion dollars, a 24.6 percent increase over June. Of these, 95 percent, or $3.33 Billion in loans, were returned to the lender with no bid from a 3rd party.

See press release here (http://www.foreclosureradar.com/press_release_070610.php).

Ok, so you're probably wondering, what's the significance of the dog?

Think of the dog as representing your house. When the market was hot, everyone thought he was cute. Now that it isn't, well, you might still love him because he's yours, but don't expect anyone else to.

For you cat lovers who are feeling left out...


http://www.itulip.com/images/uglycat.jpg

Jim Nickerson
08-16-07, 02:45 PM
For you cat lovers who are feeling left out...



http://www.itulip.com/images/uglycat.jpg


That is one fugly cat.

GRG55
08-16-07, 03:56 PM
"This mutt is fugly squared."

Almost as ugly as a CDO squared...

Darin
08-16-07, 04:15 PM
http://www.itulip.com/images/uglydog.jpg



This is/was Sam, the winner of the World's Ugliest Dog. He was a local at the Santa Barbara Trader Joe's and that's typical Santa Barbara in the background. Susie, Sam's mom, will be needed to love the world's ugliest housing disaster/credit crunch/bubble popping. Next up, a World's Ugliest Housing situation competition.

Btw, believe it or not, Sam was purebred - Chinese hairless crested.

Andreuccio
08-16-07, 04:19 PM
Btw, believe it or not, Sam was purebred - Chinese hairless crested.

Looks more like Sam was inbred.

metalman
08-16-07, 04:28 PM
This is/was Sam, the winner of the World's Ugliest Dog. He was a local at the Santa Barbara Trader Joe's and that's typical Santa Barbara in the background. Susie, Sam's mom, will be needed to love the world's ugliest housing disaster/credit crunch/bubble popping. Next up, a World's Ugliest Housing situation competition.

Btw, believe it or not, Sam was purebred - Chinese hairless crested.

you telling me the chinese actually bread a dog to come out like that? what for? to scare the rats away?

meanwhile, from the onion... “how we are paying off our mortgage”

http://www.theonion.com/content/files/images/Statshot-Paying-Mortgage.jpg

Jim Nickerson
08-16-07, 04:32 PM
Thank heavens for humor. There are times when it makes a shitty 3 days bearable, especially when coupled with a 328 point rally in the DJI.

Andreuccio
08-16-07, 05:07 PM
I was really curious about that 328 point rally. I read an article this morning that Rajiv had linked to:

http://onlinejournal.com/artman/publish/article_2304.shtml

One sentence stuck in my mind: "Whenever you see a sharp rise of the DJIA right before the close based on no news, you can be sure that the PPT is in action. "

The PPT is explained as follows: "Since about 1989, the Fed has funded a shadowy organism called the President’s Working Group on Financial Markets, more popularly known as the plunge protection team or PPT. This entity intervenes every day to prop up Wall Street’s speculative house of cards. The PPT buys stock futures in Chicago with the goal of up drafting stock prices in New York. As long as the PPT can keep the price of the Chicago future above the price of the underlying stock on the NYSE, speculators and program traders will sell the future and buy the stock, accomplishing the PPT’s goal of generating totally fictitious demand and preventing gaping market breaks where there is simply no bid for stocks offered.
A few billion of futures buying in Chicago can generate tens of billions of buying in New York -- especially when the operation is signaled by Wall Street figures known to be de facto spokespersons for the PPT, such as Abby Joseph Cohen of Goldman Sachs. Once speculators know the PPT is moving in, they can pile on the bandwagon, and realize nifty short-term gains before selling to the suckers before the next dip."


Has anybody heard of the PPT, or are we into tin-foil hat territory? Could they have caused today's rally?

Rajiv
08-16-07, 06:19 PM
I think this is more in the tin foil hat category -- a more likely explanation is the selling of index futures by naive investors

Darin
08-16-07, 07:41 PM
Perhaps Dead cat bounce? (http://en.wikipedia.org/wiki/Dead_cat_bounce)

Contemptuous
08-16-07, 08:05 PM
I don't see what everyone finds so unattractive about this little fella. He looks kind of rakish, with a debonair glint in his (remaining) eye?

I must admit "Fugly II" seems somehow mysteriously a good name for him though ... as in "Fido Fugly the Second" or "Freakin' Fugly the Third" - sort of patrician sounding? ...

Put a tux on him, you could take him anywhere ...

necron99
08-16-07, 11:23 PM
I was really curious about that 328 point rally. I read an article this morning that Rajiv had linked to:

http://onlinejournal.com/artman/publish/article_2304.shtml

One sentence stuck in my mind: "Whenever you see a sharp rise of the DJIA right before the close based on no news, you can be sure that the PPT is in action. "

The PPT is explained as follows: "Since about 1989, the Fed has funded a shadowy organism called the President’s Working Group on Financial Markets, more popularly known as the plunge protection team or PPT. This entity intervenes every day to prop up Wall Street’s speculative house of cards. The PPT buys stock futures in Chicago with the goal of up drafting stock prices in New York. As long as the PPT can keep the price of the Chicago future above the price of the underlying stock on the NYSE, speculators and program traders will sell the future and buy the stock, accomplishing the PPT’s goal of generating totally fictitious demand and preventing gaping market breaks where there is simply no bid for stocks offered.
A few billion of futures buying in Chicago can generate tens of billions of buying in New York -- especially when the operation is signaled by Wall Street figures known to be de facto spokespersons for the PPT, such as Abby Joseph Cohen of Goldman Sachs. Once speculators know the PPT is moving in, they can pile on the bandwagon, and realize nifty short-term gains before selling to the suckers before the next dip."


Has anybody heard of the PPT, or are we into tin-foil hat territory? Could they have caused today's rally?
People who are curious about the "Plunge Protection Team" idea need only hearken back to this older post:

http://www.itulip.com/forums/showthread.php?t=1221

also, cited by reference:

http://www.informationclearinghouse.info/article10163.htm

http://www.sprott.com/pdf/pressrelease/TheVisibleHand.pdf

http://www.gata.org/SprottReportTheVisibleHand.pdf

metalman
08-16-07, 11:36 PM
People who are curious about the "Plunge Protection Team" idea need only hearken back to this older post:

http://www.itulip.com/forums/showthread.php?t=1221

also, cited by reference:

http://www.informationclearinghouse.info/article10163.htm

http://www.sprott.com/pdf/pressrelease/TheVisibleHand.pdf

http://www.gata.org/SprottReportTheVisibleHand.pdf

they got one of them in asia?

http://finance.yahoo.com/intlindices?e=asia

Andreuccio
08-17-07, 12:07 AM
Apparently not. Great link, btw.