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Hey what about your biggest fav? RIG. :)
Thanks Pantera, especially for your list of current favs.
I hope you are right, gtober. The market certainly agrees with you. I guess I'm just in worry mode.
Pantera, you used to like DRQ, but you haven't mentioned in awhile. Did it fall off your favorites list or hasn't gone low enough yet?
Are the traders here worried about the latest rumblings from the House about taxing the oil and gas producers, in particular re-doing the contacts in the Gulf of Mexico to "correct" the lack of royalties? I'm concerned about a US version of the royalty trust tax "surprise". Looks as though the Senate could help deflect it... but I dunno...
Walking down to the beach or up from? The going up part looks very challenging.
Although a local article on real estate, it has some stats for CA and comments of interest.
_______________________
Boost in mortgage defaults hits area
Shasta's situation in 2006 still better than rest of state
David Benda, Record Searchlight
Tuesday, January 16, 2007
The number of homes in some stage of foreclosure in Shasta County jumped 22 percent in 2006.
But the increase, from 344 in 2005 to 421, was dwarfed by the rest of the state, which saw a 131 percent spike for the same period, numbers from a national firm that tracks foreclosure show.
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"I think it's fairly safe to suggest that the real estate market in Shasta is certainly less volatile than some other areas," said Rick Sharga, vice president of marketing for RealtyTrac Inc., the Irvine company that publishes a national database of more than 600,000 properties in more than 2,500 counties.
RealtyTrac's numbers show 142,429 homes in California were in the foreclosure process in 2006, up from 61,563 in 2005
Nationwide, the number of homes in foreclosure was up 42 percent in 2006 to 1,259,118 from 885,468 in 2005.
The properties monitored by RealtyTrac are in all three phases of foreclosure, from notice of default to bank sale.
Mike Van Bockern, co-owner of Foreclosure Specialists in Redding, said his firm saw between a 30 percent and 40 percent jump in business last year. Van Bockern gets involved in the final stage of foreclosure -- the notice of sale.
The cooling housing market, which slowed appreciation rates, contributed to the rise in foreclosures in 2006, Van Bockern said. When homes were rising at a 20 percent annual clip, homeowners could refinance, get a second mortgage, or sell to bail themselves out of trouble.
"There wasn't the money out there to help people in default," Van Bockern said. "Before, they could sell, still put money in their pocket and walk away before they lose it."
But Sharga, of RealtyTrac, said statewide there appears to be a higher incidence of early-stage defaults and not a significant increase in properties making it through the foreclosure process.
"A lot of people have overextended themselves and were not able to keep up with their mortgage payments but are able to sell the properties off," Sharga said.
One way to stop a foreclosure is a short sale, which is when a lender agrees to allow the sale of a home for less than the balance of the loan.
Redding Realtor Josh Barker thinks that short sales -- which he says were prevalent in the 1990s -- will increase this year.
"Short sales and foreclosures will have to be absorbed by the market place and can temporarily affect values downward," Barker, of Town & Country Realty, wrote in his 2006 year-end report to his clients.
When home values are stagnant it is difficult to recoup the costs it takes to get a home ready for sale, Van Bockern said.
"I've read everything from $20,000 to $50,000 per house a bank incurs in cost each time they foreclose," Sharga said.
Reporter David Benda can be reached at 225-8219 or at dbenda@redding.com.
Nice job on AAPL! Not into holding for earnings eh?
Very exciting! Good luck with your new home.
Although I would love to go to Rio, its not the safest place to avoid being implanted. Come to think of it, aren't implants in vogue there? Plastic surgery happy country.
Any news on POOL this am?
Can LIFC close the gap? Its movin' up
Joe, you have gathered a great group of people here. I just spent some time going through the old posts that accumulated while I was away for the holidays. I enjoyed reading the light-hearted posts as well as the well thought out essays. Thank you.
BasserDan, you posted a Roach article from Jan 06. Oops!
NTRI showing signs of life again
HANS still moving up
I noticed that as one travels away from AC, the properties look nicer. We were staying in Ocean City and also drove to friends in Sea Isle (lovely place).
I happen to be in Sullivan County right now. Just looked at the local paper (Times Herald Record) and didn't see any mention of the casino news.
The nicest place near Monticello is on the former site of Woodstock - Bethel Woods Performing Arts Center. Lovely venue. (Although the one concert I heard there had irregular sound quality.) To get there, one must pass the Monticello Raceway. Traffic was really backed up to get to the show - and that was without a major casino.
Good news for the stock. I don't see casinos helping Sullivan County much with more downside than upside. I walked around Atlantic City this past summer and that place is a dump too. The second home boom in the area is created by people who are not interested in gambling. They are escaping from NYC.
:) Thanks Newly! (Although I don't think I'm doing it right, I'll have to practice later.)
Merry Christmas to you!
And NVLS seems to be trading more in line with the market today. Quiet before the next storm?
NVLS -- maybe the insider sales are meant to confuse so it looks as though there is no deal in discussion. Or maybe the officers don't see it happening themselves (even if approached). Just trying to see if I can think like a criminal. ;) Wish I had some of Newly's emoticons (or whatever they are called.)
Did you see my note on Zeev's thread that NVLS is rumored to be a buyout target by Tokyo Electron or a private equity buy out?
There is takeover speculation on NVLS by Tokyo Electon or by prviate equity.
Yeah, I thought that lower hill was where us tourists usually go. Cool shot. One of my favorite places to visit. I love looking out the other side to the ocean too. Windy though.
Marin Headlands? I don't remember the GG bridge looking so close.
Jeffsax, do you follow GENZ? Its been weak. Thanks.
Hopefully he is just busy and not having back problems again.
I forgot all about CRDN. Thanks for reminding me. It looks ripe, but then again it did to me several points ago. I'm glad I waited.
I'm glad I stayed out of CRDN as a short. I saw where it could go higher after you pointed out that fact. LOL.
OT, was in your neck of the woods yesterday on a most gorgeous day. Wonderful color in the vineyards, although I probably missed the peak. If I didn't have such a great place north, I'd want to move to Sonoma County.
CRDN on a tear upward. Short?
None of us get it Maine, just let us be in peace. At this point, even if you were right about something, I believe most of us would consider the source tainted. Please stop posting crap on the No-Politics thread.
PS You used to be a fun contributor to the board. I miss the old Maine.
OT <<I used to fly before boating, and now I have a chance to fly new aircraft FOR money.......>>
Your new job sounds thrilling. If I remember correctly, you had a business outside Sacramento, but were moving to San Diego. I hope all worked out for you. It looks as I might be going to your old stomping grounds to buy a new car at Neillo.
Costco's furniture looks cheap to me. Not surprised sales are down in that segment.
ISRG OS?
From Canada's Dept of Finance, some info on the proposed tax.
http://www.fin.gc.ca/news06/06-061e.html
It seems that we have had a nice run. I thought taxes on US investors was closer to 10%, in the example they gave it shows 15%, with the increase up to 41.5%. I'm not sure how the foreign tax credit works (I have an accountant do my taxes) but I would guess that if a US investor wanted to keep the income trust investment like ERF, it would be best to do it in a taxable account, to take advantage of the foreign tax credit.
Maybe today is a case of sell first ask questions later, but I also see the potential for further declines.
This tax proposed by Canukistan has really impacted my pre-existing ERF position. I am kind of surprised with the downdraft considering the phase in of the tax. I have to read more to find out if I should add, or just be happy with the smaller unrealized profit I have left.
MMGG movin' up
Thanks AD.
in Newly's post noted from homebuilders <<nothing in the greater economy or demographics has changed>> So the homebuilder agrees with you that nothing has changed. However, it still begs the question as to why this particular homebuilder thought that the real estate market could rise again to record breaking high levels.