tag:blogger.com,1999:blog-33255068.post7446162433456643241..comments2023-11-02T05:18:21.296-07:00Comments on Bakersfield Bubble: Appraiser: local fraud is rampantBakersfield Bubblehttp://www.blogger.com/profile/12663275045022347451noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-33255068.post-67592528723870295292007-04-23T21:23:00.000-07:002007-04-23T21:23:00.000-07:00"Only one thing counts in this world: get them to ..."Only one thing counts in this world: get them to sign on the line which is dotted." From the movie Glengarry Glen Ross...xs10shellhttps://www.blogger.com/profile/14612973840497735973noreply@blogger.comtag:blogger.com,1999:blog-33255068.post-17164486778555524432007-04-22T08:43:00.000-07:002007-04-22T08:43:00.000-07:00Thanks John!!Thanks John!!Bakersfield Bubblehttps://www.blogger.com/profile/12663275045022347451noreply@blogger.comtag:blogger.com,1999:blog-33255068.post-86936006480851912862007-04-22T05:10:00.000-07:002007-04-22T05:10:00.000-07:00Here's a better link for Ryan's blog post (first c...Here's a better link for Ryan's blog post (first comment above):<BR/><BR/><A HREF="http://people.bakersfield.com/home/Blog/schuster80/8274" REL="nofollow">"Mortgage fraud alleged in Bakersfield"</A>, by Ryan Schuster, <I>Retail Rumblings blog - Bakersfield Californian</I>, April 21, 2007.John Mhttps://www.blogger.com/profile/02337271384448275952noreply@blogger.comtag:blogger.com,1999:blog-33255068.post-21666787401322883362007-04-22T04:48:00.000-07:002007-04-22T04:48:00.000-07:00Hi Crispy,The MSM is picking up the story."How 'sy...Hi Crispy,<BR/><BR/>The MSM is picking up the story.<BR/><BR/><A HREF="http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/04/22/REGMTPCPHT1.DTL" REL="nofollow">"How 'systematic inattention' led to subprime fiasco"</A>, by Kenneth Harney, <I>San Francisco Chronicle</I>, April 22, 2007.<BR/><BR/><I>"Gary Crabtree, president of Affiliated Appraisers in Bakersfield, documented the practice recently for the FBI and state financial and real estate regulators."</I>John Mhttps://www.blogger.com/profile/02337271384448275952noreply@blogger.comtag:blogger.com,1999:blog-33255068.post-57527131508650135702007-04-21T20:47:00.000-07:002007-04-21T20:47:00.000-07:00“I could have just let this gone on and not said a...“I could have just let this gone on and not said anything to anyone,” Crabtree said. “But it is my responsibility as an ethical appraiser to report these cases of suspicious activity.” <BR/><BR/>It is so refreshing to hear someone with this honest approach in this day and age.xs10shellhttps://www.blogger.com/profile/14612973840497735973noreply@blogger.comtag:blogger.com,1999:blog-33255068.post-79895725055816316512007-04-21T12:26:00.000-07:002007-04-21T12:26:00.000-07:00http://ml-implode.com/list of all lenders who have...http://ml-implode.com/<BR/><BR/>list of all lenders who have gone bustBakersfield Bubblehttps://www.blogger.com/profile/12663275045022347451noreply@blogger.comtag:blogger.com,1999:blog-33255068.post-32669379799683394742007-04-21T09:31:00.000-07:002007-04-21T09:31:00.000-07:00How do we find out about all the small Mortgage Co...How do we find out about all the small Mortgage Companys that are still doing Loans? or the companys that are closing?Realestateslasherhttps://www.blogger.com/profile/17951400717155909509noreply@blogger.comtag:blogger.com,1999:blog-33255068.post-22160473025950953782007-04-21T09:28:00.000-07:002007-04-21T09:28:00.000-07:00I don't think anyone can tell you how this supply/...I don't think anyone can tell you how this supply/demand curve will play out, because we're in uncharted territory right now. Past real estate bubbles were actually employment/industry bubbles.onehonestmanhttps://www.blogger.com/profile/05816494198970626123noreply@blogger.comtag:blogger.com,1999:blog-33255068.post-19702137177943859402007-04-21T09:16:00.000-07:002007-04-21T09:16:00.000-07:00As expected, the tsunami of listings is flooding t...As expected, the tsunami of listings is flooding the local MLS. We are approaching 4,000 homes. We are 50% above last years inventory (at this same time) and with the demand side down (credit tightening, investors gone, affordability low, etc.); someone tell me how the supply/demand curve works again?Bakersfield Bubblehttps://www.blogger.com/profile/12663275045022347451noreply@blogger.comtag:blogger.com,1999:blog-33255068.post-25550874304753162732007-04-21T09:10:00.000-07:002007-04-21T09:10:00.000-07:00I agree this is not the only reason for the run up...I agree this is not the only reason for the run up in prices. The biggest reason was mass speculation fueled by cheap and easy credit. I have focused a good portion of this blog on lenders going bust, because they have been the fuel for this run up. Now that credit is tightening things are slowing down significantlyBakersfield Bubblehttps://www.blogger.com/profile/12663275045022347451noreply@blogger.comtag:blogger.com,1999:blog-33255068.post-29894405476201541522007-04-21T08:52:00.000-07:002007-04-21T08:52:00.000-07:00There's no way this scam is individually responsib...There's no way this scam is individually responsible for the bubble run up. Yes, this is some serious fraud, but keep in mind the big picture. Alot of the public made some very poor decisions on how much house they could buy and on the kind of financing that would get them there. I wonder if anyone in the media will have the courage to put even a fraction of the blame on the thousands of normal people who made stupid, irresponsible decisions.onehonestmanhttps://www.blogger.com/profile/05816494198970626123noreply@blogger.comtag:blogger.com,1999:blog-33255068.post-20277545326066583812007-04-21T08:43:00.000-07:002007-04-21T08:43:00.000-07:00Great days & Good years start with a clean closet ...Great days & Good years start with <BR/>a clean closet , Go figureRealestateslasherhttps://www.blogger.com/profile/17951400717155909509noreply@blogger.comtag:blogger.com,1999:blog-33255068.post-30650623199194833582007-04-21T08:40:00.000-07:002007-04-21T08:40:00.000-07:00Check out my blog on the story at:http://people.ba...Check out my blog on the story at:<BR/>http://people.bakersfield.com/home/Blog/schuster80/8274Ryan Schusterhttps://www.blogger.com/profile/07530017022813404556noreply@blogger.com