I was at a party about 13 months ago, a going away party for one of my clients whose house we had just sold. I had sold the hostess her house, and somehow or another we started talking about 80\/20 loans — nothing down financing. She had just refinanced to retire the second mortgage, so she had 20% equity in her home at next-to-nothing in out-of-pocket costs.<\/p>\n
All around the room, people started nodding and saying 80\/20, 80\/20. They had all done the same thing, a room full of young homeowners with their homeownership made possible by the no-PMI piggy-back loan.<\/p>\n
This is Peter Coy in Business Week’s Hot Property<\/a>:<\/p>\n Is Your Mortgage Choking You?<\/p>\n For an article in BW, I’m looking to interview people who have subprime ARM mortgages and are feeling squeezed by resets.<\/p><\/blockquote>\n A few weeks ago, Coy admitted that margins of error in statistical reporting render much of it meaningless<\/a>. I have never worked with a sub-prime borrower, but I would expect that, among the stories of people being “choked,” there must also be stories of people who bought homes they would not otherwise have been able to purchase, homes they have subsequently refinanced with conforming loans.<\/p>\n “Proof by anecdote” is bogus in the first place, since anecdotes abound (and they’re much easier than real estate to improve). But surely there are countervailing anecdotes for almost any phenomenon. This might seem to argue for presenting “both sides” of the story. To me, it suggests a better approach. An anecdote in a news article is almost always a fallacious Appeal to Emotion dressed up as testimony. With two or three sad tales, the reporter implies that a situation that might be quite rare is in fact ubiquitous — and that the “solution” propounded requires no rational defense. Facts are facts, and surely thoughtful people can digest them without all that saccharine. Why not leave the anecdotes out altogether…? Technorati Tags: real estate<\/a>, real estate marketing<\/a><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" I was at a party about 13 months ago, a going away party for one of my clients whose house we had just sold. I had sold the hostess her house, and somehow or another we started talking about 80\/20 loans — nothing down financing. She had just refinanced to retire the second mortgage, so […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,5],"tags":[],"class_list":{"0":"post-1079","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-marketing","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":11561,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11561\/storytelling-through-real-estate-video-take-two\/","url_meta":{"origin":1079,"position":0},"title":"Storytelling through Real Estate Video. Take two.","author":"Brad Coy","date":"March 16, 2010","format":false,"excerpt":"It was 4 whole years ago that I was sitting in the back row at my first ever RE\/Tech hoo-ha conference when I first heard that Video was the next big thing. This sentiment has been repeated ever since and as far as home tours are considered, I can't say\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2603,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2603\/unchained-pioneers-podcast-with-brad-coy-and-andy-kaufman-on-how-they-hope-to-benefit-by-coming-to-bloodhoundblog-unchained\/","url_meta":{"origin":1079,"position":1},"title":"Unchained Pioneers: Podcast with Brad Coy and Andy Kaufman on how they hope to benefit by coming to BloodhoundBlog Unchained","author":"Brian Brady","date":"February 15, 2008","format":false,"excerpt":"I had a great talk with Social Media Marketing pioneers Andy Kaufman and Brad Coy this afternoon. They were among the first folks to register for BloodhoundBlog Unchained. If you click on the podcast linked below, they'll tell you in their own words the benefits they hope to bring home\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17719,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17719\/overnight-news-whats-the-best-way-to-get-a-listing-sold-tell-the-truth-quickly\/","url_meta":{"origin":1079,"position":2},"title":"Overnight News: What\u2019s the best way to get a listing sold? Tell the truth \u2013 quickly.","author":"Greg Swann","date":"January 16, 2021","format":false,"excerpt":"Since 2014, I've playing with a contrarian listing praxis born out of my own frustrations representing buyers. Bidding in the dark is dumb. Being coy about what the principals will or won't do is dumb. Paperwork for its own sake is dumb. What I do by now is radically transparent\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":8157,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8157\/were-going-live-unchained-synchronous-conferencing\/","url_meta":{"origin":1079,"position":3},"title":"We’re going LIVE! – Synchronous conferencing Unchained","author":"Brad Coy","date":"April 30, 2009","format":false,"excerpt":"Real time online conferencing. :)","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8117,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8117\/more-video-from-unchained-from-tokbox\/","url_meta":{"origin":1079,"position":4},"title":"More video from Unchained from TokBox","author":"Brad Coy","date":"April 29, 2009","format":false,"excerpt":"More experimenting live from Unchained in Phoenix.\u00a0 This time testing the video embed feature from Tokbox.com.\u00a0\u00a0 Posted just prior to the day's introduction.\u00a0 Tokbox is a video chat and video mail client.\u00a0 Exciting yet?... Let us know how we're doing or maybe what you want more of... we'll see if\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7067,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7067\/you-get-it-right-i-mean-people-are-looking-for-experts-well-for-a-few-dollars-more\/","url_meta":{"origin":1079,"position":5},"title":"You get it, right? I mean people are looking for experts. 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\n<\/p>\n