Friday links 11-14-2006

Posted on November 24, 2006 by Jim Duncan

George Washington’s Thanksgiving Proclamation

No Cake! What a sad testament on the American Way.

Get ready for some foreclosures – Subprime loans doing badly. I would love to see numbers on what percentage of loans written in the past 3 years in the Central Virginia region were subprime.

Black Friday -v- Buy Nothing Day

Is this a good thing? Why do we need this certification when we are supposed to treat everyone equal? Or am I just too idealistic for my own good?

Finally, this evening at 6pm, UVA will host Notre Dame in an NCAA tournament clash. 

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About Jim Duncan

A Charlottesville Realtor who tries to stay on the bleeding/cutting/functional edge of technology and real estate trends. I have been selling real estate for the past 10 years, lived in C'Ville for twenty+ and am married to one of few Charlottesville natives left.
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  • TrvlnMn

    Is this a good thing? Why do we need this certification when we are supposed to treat everyone equal? Or am I just too idealistic for my own good?

    In this instance your idealism is commendable. However because a majority of Virginians voted to support bigotry during the last election, it must be needed. Joint ownership of a home with right of survivorship may now be illegal in Virginia if you’re a same gender couple because it intends to “approximate one of the benefits of marriage.”

    Like any consumer “seal of approval” it’s just another loose guideline people can use to determine where they want to spend their money.

    I would love to see numbers on what percentage of loans written in the past 3 years in the Central Virginia region were subprime.

    Does “subprime” automatically equate to one of the non-traditional (interest only, etc) types of mortgage loans? I expect that in some markets these foreclosures will be the real estate equivalent of the dot com stock bust.

  • http://www.realcentralva.com Jim Duncan

    I agree; I just think that this type of thing serves to divide than unite, as much as I hate to use clichéd words.

    Subprime means those loans that have been made to buyers who do not have middle-to-higher credit scores. Regarding interest only, ARMs, etc – I have heard various numbers bandied about that next year up to 1 trillion dollars worth of ARMs are going to adjust …

  • TrvlnMn

    I just think that this type of thing serves to divide than unite, as much as I hate to use clichéd words.

    Yes, but it’s the straight community insisting on the dividing. In this instance it is also an acknowledgment of the that group as a market. As in, “Your business is important to us.”

    Plus from the article it looked like that company may have had some issues where this was necessary.

    It’s a progressive move for a company that this year has been hit with complaints (see Inman News stories in August and October) by the National Fair Housing Alliance that allege discrimination by real estate agents affiliated with Realogy’s NRT Inc. companies.

    I also thought it was worth noting that on both of the two real estate websites mentioned in the article only one of the two had an agent from the Cville in their “agent search”. But maybe that’s just a result of cost vs. lead generation?

    **

    Thanks for the clarification on Subprime.

    Regarding interest only, ARMs, etc – I have heard various numbers bandied about that next year up to 1 trillion dollars worth of ARMs are going to adjust…

    That will be fun to watch.