May 10, 2009

Phoenix MSM and realtors in 2006 - home prices have bottomed! 2007? Bottom! 2008? Bottom! 2009? Bottom!!

On a VERY predictable side note, there's one discredited Phoenix realtor near and dear to your hearts (you bawling balefully brownshirts and flying monkeys, who still will not admit how terribly wrong you were) who now hopefully understands what a Ponzi Scheme is.

Too bad. You were just trying to expose the scam, and warn people of what was to come. Yet some obviously would not listen. Those dreams of millions in commissions, and tax free cap gains flipping houses, evidently can cloud a man's judgment.

Karma - sure is a bitch. Efficient, but a bitch.

Be kind. No need to kick a man when he's lying in the gutter.


Lost Cause said...

He was actually trying to live in the place rent free for the next year and a half.

Anonymous said...

Couldn't have happened to a worse guy

Anonymous said...

Swanns blog is gonna turn into Iamfacingforeclosure2

Stuck in So Pa said...

How about when all those foreclosed sales go into foreclosure themselves.

Hint: $100,000 POS in 2000 that last re-fied for $850,000 in 2006, and is now selling in foreclosure for $495,000 IS NOT A BARGAIN, DIMWITS!

Jeez! When will people learn!

Anonymous said...

It's the bottom of the Market in DC/NoVa too!


BG said...

ha, ha, ha...everything bandaged...idiots

will shill for coin said...

Anyone make it to the bottom of the new york times article that quoted greg swann ass an expert source?

He managed to finish it off saying that "he's having a great year".

Unbelievable. Your typical Americano snapping turtle.

Tyrone said...

Don't forget other factors that will influence a "bottom":
- Interest rates (must go up)
- Inflation
- Tax revenue
- Job losses
- Stock market (due to crash again)

Exurbannation just posted on tax revenue declines for CA. Summer of hell approacheth.

squidly77 said...


Anonymous said...

"Be kind. No need to kick a man when he's lying in the gutter."

BULLSHIT. There IS EVERY reason when it is a self-righteous piece-of-shit who fucked everyone he could and now is paying the price.

Not only would I kick a piece of shit like that, I would piss on him too.

Ask the people whose financial lives were ruined by dishonest REIC what THEY would do to a turd like that.

Fuck him and the entire REIC.

Lereah and Yun next.

Assholes. DIE.

Anonymous said...

"...I can’t imagine what it must seem like to be on the receiving end of a missive like this..."Says the guy who crowed and taunted"...The BubbleBloggers will someday bawl balefully in private, but they will never, ever admit...they were wrong...don’t hold your breath waiting for that contrite admission of error..."

A man of INTEGRITY concedes in a straightforward manner, Greg.

You make Houdini look like a ruler.

WorkinginSD said...

An announcement that he's going to stop paying his mortgage, and he's in the real estate biz? That's like a software company saying its going to use all-pirated programs. It's extreme, but he's facing the financial end. All the business jargon and self-help, "The Secret"-style thinking isn't going to change the fact that selling houses in Phoenix is going to be a low-profit business for at least the next decade. The bubble won't return. No more $20,000-for-ten-hours-of-work sales.

Anonymous said...

"Turd" in the dictionary should have a line for Greg Swann

Anonymous said...

Swanny is welcome to reach my bottom anytime. Just unzip me and I'll do the rest...

Frank Barney

Anonymous said...

There are 15,178 homes in the Santa Clara County listed on

That not counting the regular homes listed on the MLS listing service.

What do you think will happen to the list of homes on

when those Alt-A, Option ARM, and NINJA loans begins to reset start November 2009.

Do you notice that banks are still lending up to 45% of income in Santa Clara County, what happen if one couple loss a job, or an unforeseen incident happen like a major car repair or medical bill.

Anonymous said...

"...An announcement that he's going to stop paying his mortgage, and he's in the real estate biz?..."Brevity really is the soul of wit; is it not?

Bravo, Sir/Madam.

Anonymous said...

Won't read this in the New York Times

Anonymous said...

Well here's the update from Tampa:

I ran the county records on our MLS and there are no less than 7 foreclosures on the street next to mine.

31 foreclosures in process on one street on Clearwater Beach.

The obvious is that the ALt-A's are now puking, get ready for the final bloodbath this year.

I told friends in foreclosure, 4 of them, that the final leg down would be when it was ok, as in socially acceptable, to talk about your foreclosure, as if it wa simply a business decision.

We have now arrived.


Tampa Resident.

norm said...

HAHA. Where's you're flying monkey NOW??

Ron said...

He edits out negative comments? So say what you have to say, because you know he is the one reading it anyway. He is the audience of what you need to say, not the readers. Go blast him :)

Ralph said...

Why on earth would he admit on his blog that he is in financial strive? Is he looking for donations or something, charity or perhaps free publicity?

Anonymous said...


"For the past three years, our outflow has exceeded our inflow. This is not an unusual story in the real estate business, and we have been lucky to have enough high-paying work to at least keep us within reach of profitability. During this same time, as you have seen here, we have completely reengineered everything we think about marketing, with the ultimate test of those ideas beginning only now.

But our debt load became severe enough last year that we had to make some hard choices. I elected to take a chance on our mortgage payments, since there was a plausible threat that we might lose the house anyway. Our choice was to keep the doors open at the risk of those doors themselves. I could see an upswing in our business activity, to the extent that I expected to catch up on the mortgage by the second quarter of 2009, and to catch up on everything by the fourth quarter.

I still expect this to be the case. My one mistake was that I didn’t think IndyMac would pull the trigger this soon."

Karma said...

You just KNOW from reading that 'blog' that Swann is reading every word on this and other forums that discredit him. The amount of negative comments he must be getting! The next time you come around Swann don't be such an arrogant prick (your words).

John said...

He admitted he was in financial strive because he knew it was only a matter of time before the 'brown shirts' and 'flying monkeys' found out.

He put the huge target on his back so he has to now wear it :)

I do wonder why he dragged his wife into it though? Maybe he is setting himself up as a fallen hero and looking to play the sympathy card?

Anonymous said...

Too bad we can't post over there

Anonymous said...

NVmike says:
May 10th, 2009 at 8:00 pm

The Phoenix home at:

314 E El Caminito Dr, Phoenix, AZ 85020

is a new foreclosure.

Does that address look familiar? It’s the family home of Greg Swann. One of the most boisterous, rude, arrogant Realtors(R) on the web … and it just entered foreclosure.

According to public records: he bought it in 2004, then pulled $90K+ out in a 2005 refinance and then apparently blew it all.

IndyMac just filed the NOS.

Mike Hunt said...

You asshole reporter! Only monkeys pick bottoms!


Markus Arelius said...

Tyrone is exactly right. In addition, I don't think the rest of America realizes (or cares about) the aftershock awaiting California over the next 12 to 18 months.

Watch for the state's implosion following the referendum May 19th (1a etc will be voted down). People are going to find themselves in a world of shit.

Anonymous said...

Bottomed just like the stock market...NOT!

WSJ -- the most widely followed of these barometers, often known as "normalized" earnings, is the one created by Yale University professor Robert Shiller . He compares stock prices to a 10-year trend in earnings adjusted for inflation.

Now, however, the measure is close to the historical average, with a reading of 15.9 at last Wednesday's close of 920 for the S&P 500. That's a reading that suggests "average returns for the next ten years," Mr. Shiller says. "However, I still think the market is risky right now."

Anonymous said...


from Denninger

CA Sales taxes were $452
million lower (-50.9%) than last April
"...sales tax receipts are not a lagging indicator, they tell you what is going on right now..."

PDF source

RiperDurian said...

Greg what happened to your Canadians?

Oh well, at least you can make a living with your creative writing skills...