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Jeremiah Smith
Jeremiah Smith

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"Frank- I hear what you are saying, it is just not feasible. It is just a micro of what occurred to our overall economy. People don't want to break routine. Everyone trying to make a dollar, do it for less or go find a new career. A baseline for value is a cute concept but the entire system is broken. People need to decide for themselves what they are willing to pay for a home & if they need a prof. opinion seek out several, The lender must also decide by whatever means necessary if that home..."    View Comment
"Prices will continue to drop. There is still a backlog of FCL's & short sales sitting out there. It can't be cleared in a natural way (without any gov. intervention or otherwise) until 2012/2013. More and more people will continue to drop prices to attempt to remain competitive. Markets are saturated and there aren't enough buyers. If it isn't under contract now it won't be a closed sale until march or so for all practical purposes. Spring is coming, I have watched for months..."    View Comment
"Appraisers got stuck in a loop IMHO. To eat they must keep clients happy just like everyone else in the game at this point. If they are stuck using arms length transactions and are forced to go beyond 3 months back it skews everything. I don't think it is fair to use numbers from beyond 6 months. Everything is moving rapidly. The market in most places is saturated which is forcing people to continually slash prices to stay even remotely competitive. Without job creation/lending this thing is..."    View Comment
"The answer to all three questions is yes. I feel it will be a short time until companies like Corelogic etc... have everything linked in regards to public record on properties (from defaults, FCL's) then incorporate all the standard items on a credit report as well as property reports from insurance claims etc...Giving a much more complete snapshot of the potential for non-repayment of borrower A and property A. I may be some time before it happens but all sings lead to that type of system being..."    View Comment
"Dennis we did better than that, we gave houses to millions upon millions of people "who couldn't afford to buy a home" such as unemployed, underemployed, retirees, etc...Didn't pan out so well. Moving the houses and rehabing the homes can be costly and sure it may require less capital and natural resources to do such but it doesn't repair the system on a whole. National Geo Video. Seems 5 people are born every second and only 2 pass away. By 2050 over 70% of the worlds population..."    View Comment
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