Just a 47-year-old mom of 2 in Northern California. My kids are Monkey Monkey(MM) and Drama Llama (DL). I am married to Monkey Hubby (MH). I suppose I haven't been very posty. While everyone is winding down for the Holidays (granted, I do understand most people are more wound up and crazy busy). But work-wise, seems everyone is winding down. Whereas, for me, everything is winding up. Not that the week of December 15th usually amounts to much, but it's been so CRAZY this week, and after about 6 weeks of "vacation" (it's been so slow and I've barely been in the office) it's been a little overwhelming.
I am also not thrilled about all the weekend plans that dh has made for us. Exhausted just thinking about it. Though I may also have a chance to catch up with an old friend.
I will probably work a bit the next 2 weekends. Tomorrow is completely by choice, so I can take Monday off for dh's appointment in San Francisco. BUT, the week has been so hectic I suppose I would be working anyway. (As of Monday I wondered if I would have enough to do. Seems laughable now - basically, have got NOTHING done all week since my phone has been ringing off the hook. Tomorrow sounds refreshingly quiet and productive, in comparison).
I have some pretty exciting plans next Saturday, but may have to work a few hours Sunday or something. (What exciting plans? I am meeting a fellow SA-er in person!)
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Anyway, I didn't have a ton to share today - not a lot of time to spare. BUT, had some interesting articles come through my e-mail today:
Foreclosure backlog estimated at 1.7 million homes
http://www.mercurynews.com/ci_14018917
A credit card with a 79.9% rate? It's for real
The second article is kind of crazy. But hey, why would 79.9% interest rates be illegal? Right??? Good thing we have so much credit reform (insert eye roll).
I find the first article uber interesting. I am kind of amazed that our home value has remained as high as it has. However, I have also read a little bit about the large extent of "phantom inventory." Particularly in the area I live - but all across the US of course. Banks are just holding onto foreclosures to reduce supply and hold prices higher. It's obviously going on in my city - it's been named a top forelcosure city - and yet there is a frenzy of bidding for prices higher than we paid in 2001 even. It doesn't make a ton of sense. On some level, I expected the frenzy to happen on the lower end, since SO MANY people were priced out of the market for such an extended period. But on the flip side, the frenzy doesn't make a ton of sense. If I had a dollar for every time someone told me they were so smart to wait - and bought for a premium over what we paid. (Plus they were stuck with absurd rents in the interim). Yes - you are so smart.... Nah - the smart ones will wait for the foreclosure tsunami and will be buying houses for less than this. (I suppose what it comes down to me is that prices don't strike me as particularly rock bottom. & this is probably precisely why they are not rock bottom. The banks control the supply...)
Anyway, my friends who have foreclosed - it has taken the banks over a year to even list their houses for sale. Whereas early on, some of our neighbors moved out, and their houses were sold within the month. Purposely or not, their is some huge backlog going on there. (In comparison, not much has sold in our neighborhood this year. Not anything for sale! Lord knows how many people have walked away from their homes - sitting empty in our neighborhood. Nothing obvious - but they have got to be there).
December 19th, 2009 at 02:22 am 1261189350
Although what they had before - a $250 limit with $256 in fees ... yikes! That's even more ridiculous!
December 19th, 2009 at 04:33 am 1261197180
December 19th, 2009 at 02:25 pm 1261232746
Though if you found something in your price range today, I wouldn't roll my eyes at you. Only if you told me for the last decade that ownership was "stupid" and that you got the rock bottom price of the century today. Then I'd roll my eyes. But you are too smart for that!
December 19th, 2009 at 05:32 pm 1261243938
December 19th, 2009 at 06:12 pm 1261246335
December 19th, 2009 at 09:19 pm 1261257560