Matt Drouin

Anybody here had clients do any deals with Indymac? This bank had some of the scariest underwriting standards I had ever seen. When Indymac went under, I had two clients with deals in process. I was not afraid of the loss of commission but rather my clients trust in my referral capabilities. Fortunately, Indymac had sold off its mortgage bank to Prospect Mortgage, and both of them closed on time. I think that Indymac would have survived (for a little while longer at least) if it wasn't for Chuck Schumer's rumor campaign which provoked a Great Depression style bank run on the depository foundation of the institution. Matt Drouin Associate Broker Nothnagle Realtors Rochester, NY http://www.nyhomesgetsold.com

Look at those short and long term Treasury yields! A huge indication that investors have not taken a flight to quality but much rather a flight to liquidity. Every investor knows that cash and cash equivalents make terrible intermediate and long term investment holdings. With ridiculously low yields on cash like we see can only exist for a certain amount of time until investors capitulate and take on more appetite for risk. Money has left commodities, equities, and even corporate and municipal bonds. It now lies in cash and Treasuries (cash equivalents). It is only a matter of time before credit and equity markets (and real estate markets) return to normal with the economy riding on its coat tails. Matt Drouin Associate Broker Nothnagle Realtors Rochester, NY http://www.nyhomesgetsold.com

Just a follow up to the other comments. Allan makes a good point. These websites are for entertainment, or rather infotainment. Ever watch Law and Order? Ever assume that the show represents what actually happens in our court system? I have to admit, sometimes I make that mistake. I have published an article related to this issue at: http://www.nyhomesgetsold.com/articles/the_pitfalls_of_zillow_com-12/ Matt Drouin Associate Broker Nothnagle Realtors http://www.nyhomesgetsold.com