when will the bottom fall out of the housing market?

SuperGrover

jack of all trades
Originally posted by ceo_pte
This is an e-mail that I got about base closures. Of course, I know for a fact that some of these bases have been on the list before. I think this is an initial draft and whether or not they actually close will be determined later.


BASE CLOSURES FOR 2005 .....

Sounds like the list is from G2mil.com -- seriously folks, there isn't any official list floating out there (preliminary/initial/draft or otherwise). The official list will come out next year. Until then, there will be someone who says that they have the "initial", "preliminary", "draft" copy of these list and should be taken with a grain of salt.

Of course, those bases that were on the list from the last go-around are more susceptible than others.
 

ceo_pte

New Member
i got the list from a retired captain who sits on a number of committees and knows alot of people in the DC area. But I do not know how official it is. I know for a fact that the AF Base in Sumter, SC was on the chopping block several years ago. It's still open though.
 

SuperGrover

jack of all trades
OOPS *********CORRECTION**********


FYI, the OFFICIAL BRAC LIST is due out to the public no later than 23 SEP 2005, until then it's a closed, internal process with strict access controls.

In other words, ignore any list you come across, as they are merely speculation, until the real one hits the street.

Here's the process:

-Publish proposed selection criteria for a 30-day comment period by Dec 31, 2003

-Publish final selection criteria by 16 Feb 2004

-Submit a report to Congress with the FY 2005 budget justification on the following points:
A force structure plan, based on an assessment of probable threats to the national security over the next 20 years
The probable end strength levels and military force units needed to meet those threats; the anticipated levels of available funding
A comprehensive inventory of military installations worldwide; a description of infrastructure necessary to support the force structure
Discussion of excess capacity categories
Economic analysis of the effect of realignments and closures to reduce excess infrastructure
SECDEF certification of the need for BRAC, and that annual net savings would result by 2011

-SECDEF forwards recommendations for realignments and closures to the BRAC commission by 16 May 2005

-The commission forwards its report on the recommendations to the President by 08 SEP 2005

-The President will have until Sept 23, 2005 to accept or reject the recommendations in their entirety. If accepted, congress will have 45 legislative days to act on the recommendations.
 
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Schizo

Guest
Tinkerbell said:
My bottom has gotten out of hand and sometimes it falls out on it's own if my shorts are too short. :lmao:


I have no imagination, visuals please :biggrin:
 

Tonio

Asperger's Poster Child
frogger said:
Do any of you know who is actually coming to Pax? I heard Naval Surface Warfare in Dahlgren might close, which could mean they would come here. Any definites?
Whatever happens to Dahlgren, I don't see those functions being transferred to Pax. Dahlgren is under NAVSEA while Pax is under NAVAIR, with two different missions. The Dahlgren functions would most likely be absorbed by another NAVSEA installation.
 
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newtosomd

Guest
My wife saw a house up for sell in our neighborhood. She was walking past and overheard the owner telling a neighbor that while the realtor was outside putting up the sign someone drove by, ended up coming in to check it out and had a contract on the house in 2 days. They had also gotten 2 additional back-up contracts within 5 days.
 

Wickedwrench

Stubborn and opinionated
newtosomd said:
My wife saw a house up for sell in our neighborhood. She was walking past and overheard the owner telling a neighbor that while the realtor was outside putting up the sign someone drove by, ended up coming in to check it out and had a contract on the house in 2 days. They had also gotten 2 additional back-up contracts within 5 days.
It's not uncommon to get 30-40K more for your home than advertised now. I've heard of many that sold in less than a day with bidding wars over the contracts.
 
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newtosomd

Guest
Wickedwrench said:
It's not uncommon to get 30-40K more for your home than advertised now. I've heard of many that sold in less than a day with bidding wars over the contracts.

I can't wait to sell ours. The only problem is that unless you totally move out of this area and to somewhere cheaper, you will get stuck when you buy again.
 

kom526

They call me ... Sarcasmo
Wickedwrench said:
It's not uncommon to get 30-40K more for your home than advertised now. I've heard of many that sold in less than a day with bidding wars over the contracts.
I'm salivating over the possibilty of a bidding war on my house. We are getting ready to build the dream house, but if all goes well we should only have to finance 40% of the total cost of the build.
 
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newtosomd

Guest
kom526 said:
I'm salivating over the possibilty of a bidding war on my house. We are getting ready to build the dream house, but if all goes well we should only have to finance 40% of the total cost of the build.

That sounds great. Obviously you didn't keep refinancing and cashing out on the equity in your house. Congratulations.
 

kom526

They call me ... Sarcasmo
newtosomd said:
That sounds great. Obviously you didn't keep refinancing and cashing out on the equity in your house. Congratulations.
We did one re fi in 2000 to do some upgrades (windows, siding, new HVAC) and left it alone. We have been in this place for 10 years so we have seen the market value increase astronomically.
 
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newtosomd

Guest
Housing starts up, jobless claims rise

New article from Excite!


WASHINGTON (Reuters) - U.S. housing starts rose in May, but fell shy of expectations, while a separate report on Thursday showed the number of Americans filing new claims for unemployment benefits edged higher.

May housing starts increased 0.2 percent to a 2.009 million unit rate from a downwardly revised 2.005 million unit pace in April, the U.S. Commerce Department said.



http://money.excite.com/ht/nw/bus/20050616/hle_bus-n16331668.html
 
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newtosomd

Guest
kom526 said:
We did one re fi in 2000 to do some upgrades (windows, siding, new HVAC) and left it alone. We have been in this place for 10 years so we have seen the market value increase astronomically.

I can only imagine! That's great for you. We did a re-fi, but didn't cash out! We've also been doing bi-weekly payments which has allowed us to gain a little more equity.
 
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newtosomd

Guest
Does "multi-family" mean condos, apartments, etc? Just curious. That could be an indicator of a fall off in real estate investors.

"Single-family housing starts rose 4.7 percent to a 1.704 million unit pace in May while multifamily starts dropped 19.3 percent to a 305,000 unit pace, the Commerce Department said."

"Permits for future groundbreaking, an indicator of builder confidence, fell 4.6 percent to a 2.050 million unit pace. The drop was the largest monthly decline since June 2004 and exceeded forecasts for a 2.1 percent dip."
 
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Schizo

Guest
newtosomd said:
Does "multi-family" mean condos, apartments, etc? Just curious. That could be an indicator of a fall off in real estate investors.

"Single-family housing starts rose 4.7 percent to a 1.704 million unit pace in May while multifamily starts dropped 19.3 percent to a 305,000 unit pace, the Commerce Department said."

"Permits for future groundbreaking, an indicator of builder confidence, fell 4.6 percent to a 2.050 million unit pace. The drop was the largest monthly decline since June 2004 and exceeded forecasts for a 2.1 percent dip."


Yes
 

ceo_pte

New Member
It's crazy in Waldorf. My wife and I bought our house 2 years ago(August), and now we can sell for at least 130K more than what we paid for it. Probably more! I am thinking of refinancing b/c I saw some rates the other day at 5%. Anyone refinanced in the last few weeks? What type of rate/lender did you use?
 
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