A new escrow thread for a new housing market...

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[quote author="ipoplaya" date=1241850604][quote author="IrvineRenter" date=1241843987]



Has a 2 or 3 period moving average turned higher yet?</blockquote>


Yes, although we really need to see a full month of May to say that for sure.



If closing prices at the end of April and early May are an indicator of what the rest of month will show, the 3-mo average will uptick as of May for sure.



<img src="http://www.ipoplaya.com/mayprice3mo.jpg" alt="" /></blockquote>
Dead cat bounce brought to you by the Fed.
 
If anyone thinks resedential real estate prices will increase on anything other a short term basis, I suggest you read <a href="http://www.calculatedriskblog.com/2009/05/loan-reset-recast-schedule.html">this article</a> on Calculated Risk. The charts are based on real numbers, not opinions.
 
[quote author="awgee" date=1241859109]Ipo - If Irvine shows three months in a row with an uptick of 1.86% each month, are you going to buy?</blockquote>


Nope. I couldn't buy even if I wanted to. My job will be all but evaporated by August. I'm going part-time in June, not by choice, and expect to be zero time by sometime in August. Our bank just informed us yesterday that they are pulling our line of credit and hooking us up with factor instead. They want our NPA off the books...
 
Ipo - I am so sorry for your news.

It is disheartening to see the actions of some greedy immoral few affect so many fine people.
 
Thanks cco and awgee. I have survived in my position longer than I thought so for that I am thankful. So many others are under much more financial distress than my family will ever experience... For us, it will mean no retirement or college savings until I land another position and perhaps dipping into savings for a grand or so per month. Fortunately the wife has a very secure job with a decent income and great benefits.



The job market is so poor right now, I don't even think I'll start looking in earnest until Fall. It's very possible that I won't be working in another full-time career position until sometime next year. I figure I will take the opportunity to start working out again, drop 20-30 pounds, and spend some serious quality time with the kids. When life gives you lemons...
 
[quote author="ipoplaya" date=1241877247]



The job market is so poor right now, I don't even think I'll start looking in earnest until Fall. It's very possible that I won't be working in another full-time career position until sometime next year. I figure I will take the opportunity to start working out again, drop 20-30 pounds, and spend some serious quality time with the kids. When life gives you lemons...</blockquote>


Great perspective.



Does this mean I won't run into you at Old Navy anymore? I mean, with a single income in your family you can hardly justify shopping at high end retailers like that anymore. ;)
 
[quote author="ipoplaya" date=1241877247]Thanks cco and awgee. I have survived in my position longer than I thought so for that I am thankful. So many others are under much more financial distress than my family will ever experience... For us, it will mean no retirement or college savings until I land another position and perhaps dipping into savings for a grand or so per month. Fortunately the wife has a very secure job with a decent income and great benefits.



The job market is so poor right now, I don't even think I'll start looking in earnest until Fall. It's very possible that I won't be working in another full-time career position until sometime next year. I figure I will take the opportunity to start working out again, drop 20-30 pounds, and spend some serious quality time with the kids. When life gives you lemons...</blockquote>


Sorry about your job situation, Ipop. But if it has to happen, it sounds like the timing is a blessing in disguise for you. Now that you have sold your home, nothing to worry about there as a homeowner. This may also prevent you from buying "too" early. In addition, spending quality time with the kids is always a very valuable thing. You may also find you cut down your expenses a lot if you can do without daycare expenses since you'll be home more. Sounds like a good deal, even something to look forward to.
 
[quote author="ipoplaya" date=1241877247]Thanks cco and awgee. I have survived in my position longer than I thought so for that I am thankful. So many others are under much more financial distress than my family will ever experience... For us, it will mean no retirement or college savings until I land another position and perhaps dipping into savings for a grand or so per month. Fortunately the wife has a very secure job with a decent income and great benefits.



The job market is so poor right now, I don't even think I'll start looking in earnest until Fall. It's very possible that I won't be working in another full-time career position until sometime next year. I figure I will take the opportunity to start working out again, drop 20-30 pounds, and spend some serious quality time with the kids. When life gives you lemons...</blockquote>
Sorry to hear the bad news IPO. What was the basis for the bank pullin the line of credit?



E-mail your resume...the consulting firm that I work for also provides accounting and finance consulting services for clients. You might enjoy being an indy contractor while you wait to get something on a full-time basis.
 
[quote author="ipoplaya" date=1241877247] I figure I will take the opportunity to start working out again, drop 20-30 pounds, and spend some serious quality time with the kids. When life gives you lemons...</blockquote>


Ipo, wish you the best of luck. I like your positive thinking.
 
[quote author="ipoplaya" date=1241877247]Thanks cco and awgee. I have survived in my position longer than I thought so for that I am thankful. So many others are under much more financial distress than my family will ever experience... For us, it will mean no retirement or college savings until I land another position and perhaps dipping into savings for a grand or so per month. Fortunately the wife has a very secure job with a decent income and great benefits.



The job market is so poor right now, I don't even think I'll start looking in earnest until Fall. It's very possible that I won't be working in another full-time career position until sometime next year. I figure I will take the opportunity to start working out again, drop 20-30 pounds, and spend some serious quality time with the kids. When life gives you lemons...</blockquote>


sorry to hear the news; now you have more time to devote to ipoplaya.com; for the past couple of months, we have no retirement, no savings, no college (we haven't started one); and we are dipping into savings also; and I'm working full time! Taxes, medical bills, the works...
 
[quote author="roundcorners" date=1241955898]sorry to hear the news; now you have more time to devote to ipoplaya.com; for the past couple of months, we have no retirement, <u>no savings,</u> no college (we haven't started one); and we are <u>dipping into savings</u> also; and I'm working full time! Taxes, medical bills, the works...</blockquote>


That's terrible...no savings and yet have to dip into them...hope you'll ride it out
 
ipoplaya, you should really make some money off your escrow page.



Do so like this:

1. Go tohttps://affiliate-program.amazon.com/and sign up

2. Find some books people looking at buying in Irvine will find interesting (ex. how to buy foreclosures book, school ranking guides and such) and put them on your webpage

3. Then for anyone clicking though on those ads (even if they are IHBers looking to buy an entirely different book), you will receive a percentage of the book cost, at no cost to the buyer.

4. Then drive some traffic (ex. ask for an article onhttp://irvinehomes.freedomblogging.com/).
 
Great attitude IPO! You've worked hard for quite some time and done the right things so you deserve to enjoy your downtime. It sounds like it will be really good for you.
 
Thanks everyone for the encouragement. I/we always land on our feet and there's no reason not to think that will be the case again.



I just started a monster escrow update to catch-up. I've been lagging with all the baseball coaching duties of late. I have 65 or so places going under contract over the past 13 days so the pace has slowed just a bit. We were averaging 6 escrows per day for a while.
 
Hi IPO,



Just wondering about an old NorthParkSquare escrow for 12 Capistrano. Your site lists the escrow start date of 9/29/08.



Whatever happened to the property? Did it go back to the bank?



Thanks
 
[quote author="IACRenter" date=1242050680]Hi IPO,



Just wondering about an old NorthParkSquare escrow for 12 Capistrano. Your site lists the escrow start date of 9/29/08.



Whatever happened to the property? Did it go back to the bank?



Thanks</blockquote>


MLS still indicates that it's in escrow. Not sure what the real deal with it is...
 
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