October 30, 2006

Got some time on your hands? Go start looking at Phoenix dead inventory homes for sale, but better get started now.


At least 54,000 pieces of overpriced dead inventory stucco hellholes are for sale in the Phoenix area today (not including FSBO's or builder specs)

So let's say you wanted to go visit each of these homes, to see if any are to your liking. Say you saw two homes per hour, looking eight hours a day, seven days a week.

It'd take you 9.3 years to see every home.

So better get started now, 'cause pretty soon, it could take you 10 years, 12 years, 20 years, ...

40 comments:

Bubba2Friday said...

Conspiracy time: 3rd quarter GDP reported last Friday seems to have been massaged. Announced as 1.6%, Bloomberg says it should be .9%. That's a mighty big overstatement on the eve of an election.

""Last quarter's annualized 26 percent increase in auto production shocked Joe Carson, now director of economic research at AllianceBernstein LP in New York. Without the gain, the economy would have grown at an annual rate of 0.9 percent, not the 1.6 percent the Commerce Department reported today.

The increase in output came despite cutbacks announced by General Motors Corp., Ford Motor Co. and others. A drop in the wholesale price of SUVs and light trucks as the automakers cleared leftover 2006 models made production look stronger than it actually was, said Carson. The economic fallout from the auto-industry cutbacks will instead come this quarter, he said.""

borkafatty said...

Steal of a deal
Houses bought at inflated prices. Millions in loan proceeds allegedly pocketed. All ending in foreclosure. In Colorado, it's one part of a nation-leading problem.


http://tinyurl.com/y45kzw

westchesterchick said...

With that much inventory building over the last year - there have to be a certain number of people that HAVE to get out...Death, divorce, job loss, healthcare catastrophe, gambling debt...someone's gotta start dropping the comps and get this ball rolling.

Richard said...

Probably one of the sorriest threads I have seen Keith -

Get real - after 10, 20, 30 homes - a decision should be made - if not they should not be in teh market because it is obvious they don't know what they want.

borkafatty said...

You know I went to my local auto dealer the other day as I am interested in trading in my 04 impala for a new chevy truck..anyway long story short.

All paid off he said he would give me $9,000 for my trade (mint 45,000 miles) of the top of a $23,000 truck, at which point i laughed and said forget the trade ill give it to my wife, lets talk money down and payment terms.

I was going to give him $5000 down, no trade, he comes back with $454 a month for 72 months again i laughed, he starts with the credit thing, so I am like, how can i have credit problems when i owe no one nothing and always paid off my balances in full and on time, he says to me your right I see that but i dont control the credit numbers.

At which point i said, pissed off as i was, you can give a 24 year old punk a $450,000 mortgage and your questioning my credit scores..I said all it is, is a numbers game, are you going to sell me a truck for what i want to pay or what..he said how much a month, i said $300, nope cant do it...ok i said have a good day and walked out the door.

mind you i have bought 5 new cars from these people...ill keep my impala and wait for the fire sales in 07. He has since phoned me twice and emailed me 3 times..

up your ass car salesman, you had a chance to make a commish now you make nothing.

Anonymous said...

>> mint 45,000 miles.

Impossible. MINT = NEW. A car w/45k miles is NOT NEW.

>> At which point i said, pissed off as i was, you can give a 24 year old punk a $450,000 mortgage and your questioning my credit scores.

Wait - are you saying the car salesman is also a mortgage broker?

Your story, and your spelling, just don't jive...

The Thinker said...

Hey borkafatty, why don't you get your loan from the bank and sell your old car yourself so that the only terms you are negotiating with the car dealer is price. That way he cant play his number's game.

Better yet, why don't you just buy a car you can afford instead of a car you need to borrow money to buy? You say you don't owe anyone anything, why ruin that now?

The key to not being ripped off is to keep things simple. I don't understand how people walk into a car dealership and negotiate price, trade-in value, and loan terms all at the same time. There are just too many variables to keep straight and too much opportunity for funny business. Unless you are able to calculate monthly payments for a loan with compound interest in your head you should not be negotiating loan terms in real-time.

panicearly said...

way to go borky. back in 2000 i had the same bs.
i went to a bank to get a loan for a
piece of land. I was putting down 250k
to buy a 350k property. 8 weeks later
nearing closing, they started talking about my credit report. not much activity as i was overseas for 10 years. i walked too.

Anonymous said...

Good point!

David in JAX said...

This gets into a whole new interesting subject. When my wife and I bought our first house (which we sold) our credit scores were very interesting. Her credit score was fantastic since she owed money for student loans, credit cards and a car. My credit score was crap. My student loans were paid for, my car was paid for, I had no credit card debt, I had zero debt at all but had a long history of continued on-time payments from paying off my car and student loans and paid off my credit card balance in full for about 10 years. Her score was about 100 points higher then mine. When I questioned this, the mortgage person said that he saw this sometimes and that my problem was that I had no debt. Zero debt reduced your credit score. Go figure.

Anonymous said...

Since the actual inflation rate is under-reported by at least 2%, that +0.9% - 2% = -1.1% GDP growth.

That, my friends, is called the beginning of a recession. Definitely not something you talk about two weeks before an election.

Stuck in So Pa said...

"Hey borkafatty, why don't you get your loan from the bank and sell your old car yourself"

Selling a car is ONE transaction., buying a car is another. Mix the two, YOU LOSE!
Is the salesman smarter than you? Not necessarily, he/she just has the experience of a lot more transactions!You Don't!

Anonymous said...

Feed'em S**t, keep'em in the dark!

panicearly said...

david in jax, borky,
they tried to sqeeze another point out of me, from 7% to 8.2% on that loan
using my credit report as an excuse.

Same thing here. Never paid interest
on a CC, never had a car loan(used cheap cars), no student loan(state univ. paid in cash working full time hours on low wage jobs), had to show 3 years tax returns to account for the large cash downpayment and they still tried to screw me.
it was real wake up call to how this system screws responsible savers who
try to do the right thing.
they are not content with a market rate on virtually risk free loan. greedy bastards.

twib said...

Bork,

1. Get pre approval from bank or better yet, your federal credit union. Don't use the dealership's banking unless they can match or better the rate/terms.

2. Selling cars yourself can be a pain. Trade in your Impala at Carmax. You don't have to buy a car from them to sell them a car. You won't get top dollar like a private party sale, but they will actually give you trade-in blue book, which is usually much higher than traditional dealerships offer.

3. Never, ever fool yourself into thinking buying several cars from the same dealership will benefit you during your next purchase. Shop around, especially in big cities where competition is fierce amoung dealerships. I considered driving to Houston to buy a new 2006 Chevy Silverado for $8700 (50% off sticker sale). They simply don't have those kinds of deals in my town.

borkafatty said...

> mint 45,000 miles.

Impossible. MINT = NEW. A car w/45k miles is NOT NEW.

>> At which point i said, pissed off as i was, you can give a 24 year old punk a $450,000 mortgage and your questioning my credit scores.

Wait - are you saying the car salesman is also a mortgage broker?

Your story, and your spelling, just don't jive...
----------------------

My story dont jive..what i am lying like I have something to prove to you..first off I never said it was new, second, Mr. English Major, I never said a car salesman was a mortgage broker it was an example.. read before you commet otherwise you look like an ass.

borkafatty said...

And I agree with you thinker, I am going to buy a nice used truck, as i need one for work and hauling things..and you are so right why start payments when in reality I dont have to..I was just trying to avoid spanding my on hand cash.

So ill Look in the $8 to %10,000 range and pay cash..did that jive Anonymous CASH!!!

And as far as credit reports go, same with my wife, 100 points better than mine.

Anonymous said...

>> read before you commet otherwise you look like an ass.

Commet? What - now we're talking about astronomy?

Please engage your brain before typing. Actually, just go away.

And yes, MINT = NEW. Let me guess - you sell your used crap on ebay and call it mint, right?

P.S. Get the FireFox browser - it checks your spelling as you type. Keeps one from looking like an uneducated ass.

Anonymous said...

Bork, You need a truck so you can haul all those urinal cakes around.
And theres ample storage for your mop n bucket, paper towels, gum remover, and vacum cleaner. hehe.

Anonymous said...

borkafatty iz sucking up to stinker, how pathetic iz that?

borkafatty said...

And yes, MINT = NEW. Let me guess - you sell your used crap on ebay and call it mint, right?

P.S. Get the FireFox browser - it checks your spelling as you type. Keeps one from looking like an uneducated ass.

------------------

More shit talk coming from an asses mouth, Ebay account? Put the cap on the Glue I think you are getting delarious..and as far as education goes (dumb ass) I would rather fit in with the asses such as yourself, than to show interlect on this site it would most definitely throw of the topic to give an educated opinion.

Now STFU before I end up embarrassing you in front of your boyfriend.

Markus Arelius said...

Keith, what's with the 'shrooms!?

borkafatty said...

Bork, You need a truck so you can haul all those urinal cakes around.
And theres ample storage for your mop n bucket, paper towels, gum remover, and vacum cleaner. hehe.

-----------------

HAHAHAH~! good one for sure even got a chuckle out of me.

Dont be jealous guy, when your standing in line at the unemployment office collecting your $300 every 2 weeks, I'll still be making my $1000 a week for a partime job hehe!

see you at the bread line, ..oh wait No I wont hahahha!

SMARTER THAN KEITH said...

Hey Bork,
I agree with THINKER butsince the Impala isin great shapewith 45K miles,I have another suggestion. Drive it until it falls apart.Probably another 6 years. Then bank the $300 monthly payment for 3 years. Then take that $10,800 and buy a foreclosure in Phoenix.Probably get a 220K house at today's price for around $115 then. Then wait another 3 years and sell it for $240K. You will still have the $10,800 plus another $125K in profit,that is the smart way to play it.

borkafatty said...

SMARTER THAN KEITH said...

Hey Bork,
I agree with THINKER butsince the Impala isin great shapewith 45K miles,I have another suggestion. Drive it until it falls apart.Probably another 6 years. Then bank the $300 monthly payment for 3 years. Then take that $10,800 and buy a foreclosure in Phoenix.Probably get a 220K house at today's price for around $115 then. Then wait another 3 years and sell it for $240K. You will still have the $10,800 plus another $125K in profit,that is the smart way to play it.

-----------------

Ya the wife and I were just talking about it, and I am going used, and paying cash..screw the payments..I need the truck mostly for hardwood floor projects and tile jobs, (ya,ya, my mops, my buckets) my 3 ton of pellets for my pellet stove.
( which I highly recommend great source for heat)

See you can make fun of my side work, but i make great money..and it is all cash..WORK! after sitting at a desk all day it dont bother me at all to get my hands dirty, unlike you Metro-Homo's ..so nope you can kick me in the balls all day, I have no pride its all about the Greenbacks baby.

SMARTER THAN KEITH said...

Bork,
Another suggestion, put some of those dollars in Euros.

Metroplexual said...

hey who are you calling a Metro-Homo? :p

borkafatty said...

No punt intended Metroplex :), and yes Smarter, I have ordered more silver, and actually was thinking of getting out of my money market account what is your opinion on that? It is only $10,000 in savings but not to sure about the Dollar, with all the bad news coming across the AP. Euros you say? hmm.

Not much into currency investments (other than silver coinage which is more of a hobby but extensive hobby to say the least)

you have a link to something I could read.

SMARTER THAN KEITH said...

Hey Bork,
Since you arealready in to silver, ever considered low grade US Silver coins.

Anonymous said...

>> Now STFU before I end up embarrassing you in front of your boyfriend.

Yeah - you and what army of dim-witted, castrated, mental midgets? YOU'RE the one who is delirious, most likely caused by the fumes emanating from the shitter in your trailer.

borkafatty said...

low grade US Silver coins

----------

I have several, Quarters 1932 & up as well as dimes. I have one Quarter 1932 Blast white 1932-S MS-63 PCGS that I here is worth $1,300, and many many, liberty dollars 1881 and so on. My old man got me into it when i was a young Janitor. hahah! but just started a few months ago buying bars of silver..

gold is nice tho i have not jumped on the band wagon as of yet, I have 1 $20.00 liberty 1903 gold Piece that my father gave me many moons ago.

They can't touch me said...

"When I questioned this, the mortgage person said that he saw this sometimes and that my problem was that I had no debt. Zero debt reduced your credit score. Go figure."

I figure that my 800 score is gonna drop since I paid off my land, closed out all ccards except the debit, and took the cash out of the bank (bot physical coins).

No big deal. They will be rethinking the debt thing in a few years.

borkafatty said...

Yeah - you and what army of dim-witted, castrated, mental midgets? YOU'RE the one who is delirious, most likely caused by the fumes emanating from the shitter in your trailer.

-------------------

Trailer, Actually please don't call it a Trailer it is a Country Coach, get it right White Trash.

"you and what army"

Look at the Educated Guy feeling threaten By Text on a Blog HAHAHA! I better back off he might hit me with his Tilda Key..that is the Swirly Thing with he 1 on it Tuff Guy.

dim-witted, castrated, mental midgets?...

And Leave your Family out of this they did not do anything.

borkafatty said...

I ment next to the 1.

SMARTER THAN KEITH said...

Bork,
Dump that 32-S I dumped a 32-D which is much rarer.It's reached it's peak.

SMARTER THAN KEITH said...
This comment has been removed by a blog administrator.
brokersleaveyoubroke said...

And yes, MINT = NEW.

No, actually mint does not equal new. Mint has always meant LIKE new or AS GOOD AS new. If mint really was equal to new there would be no need for the word mint.

keith said...

the mushrooms are like phoenix houses - sprouting up everywhere, even in places you'd least expect or want, uncontrolled expansion

kudzu was my other choice

Metroplexual said...

I lived in Atlanta for three years you would see it growing anywhere that was not maintained. I 285 on the southeast side of the perimeter has walls of it as it climbs the trees. It looks really neat to drive next to a 60 foot high wall of dense green vines. So kudzu is less appropriate, the stuff grows so fast that you can literally watch it grow

Anonymous said...

Great post Keith. Kind of puts things in even sharper perspective.