Still Life – Traveling with Bananas No. 18a LUV…
November 30, 2007Dryads and horizons…
November 30, 200709252006
Out west are lands that have rolling hills and long flat vistas. The horizon is a line you see and it is a comfort for me to wonder about all that happens beyond. It is a definition, it’s a source of motivation – after a few curves and fields miles west of Hydro on I40 you come upon a series of buttes and small canyons I immediately connect to my primordial self and smile a peaceful sigh.
The sunsets are magical. On long afternoon rides (bicycle) I would watch the sun descend through a gauze colored like the skin of a gassed nectarine. Maybe with a slash of purple.
I now live in a land of trees and hills. North Carolina. The horizon does not exist until you reach the Atlantic Ocean. I drove to the DC area this weekend and didn’t see anything but trees. Even cities with half a million warm bodies are obscured behind the veil of green. I go over a hill and see….more trees. I ride my bike around a sweeping curve and see…more trees.
I miss the horizon and the setting (and rising) sun.
Around the 97th meridian storms roll in from far away. The anvils ascend to heaven and arrive soon enough like the ending of a three act play. In NC the storms can be loud and energetic but you cannot see them. They float over on old grey pillows.
Mars out.
===
From last year after the move to NC – there are horizons, straight roads and beautiful sunsets in Louisiana where I live now (for the next 9 months). M
Want to buy a house???
November 29, 200702252007
I’m at the age where I can say I have seen a few things. Unfortunately, I haven’t been paying attention and acting on these observations the same amount of time. I learn something about myself every day and sometimes see opportunities. In 1981 close family friends always liked to tell the story of seeing oil drilling rigs abandoned in bar ditches on county roads in the 1950’s after an oil bust. Some of those rigs were supposed to drill their leases. So they started buying more mineral rights and died with more money than they could spend. That was thirty years ago. This cycle is recurring on a grand scale today, but that’s another story.
Do you have any cash? I don’t mean fake cash – loans, credit, credit cards, etc. I mean a stack of hundreds. How big a stack? I don’t know – a small stack will do, at least one comma. Do you know how to read? Can you google your county tax assessor’s web site? Do you know how to use a wrecking bar, hammer and paintbrush? The backside of the ARM credit cycle is coming…
When the news reader on TV news tells you about some boring financial statistic like:
lowest savings rate per capita, ever;
highest ratio of sub-prime mtgs, ever;
highest rate of adjustable rate mtgs (regions), avg period 3 years;
rising prime interest rate;
rising debt to asset ratio for banks and savings and loans;
default and non-performing (mtg and cc)rates rising at fastest rate in a long time and soon to be, ever;
rising mortgage foreclosure rate;
declining average and median selling prices of homes;
REITs share values declining (and big money buying shares);
corporate home builders posting consecutive quarter losses;
corporate home builders writing off land options in the hundreds of millions;
banks contributing additional capital to keep doors open;
local banks closing is a big one (this is prima facie evidence opportunities are down the street);etc;
listen.
To the distressed real estate investor these things simply mean: ROI=HUGE
I wrote the post above in February, 2007 and things are going to get worse in some areas. But the simple fact that many people all over the country borrow money via an ARM with “teaser” rates means there will be opportunities down the street – get your cash ready. The bust should be going strong by 2008 and use cash to buy an owner-financed property for 20-80% less than the value today.
Combine foreclosures with the new dynamic of rising gasoline/diesel prices and opportunities in rural areas open up quicker and foreclosed residences near large employers in urban areas become opportunities as commuters get sucked back into the city.
Mars out.

Posted by Marshall Hansen 
Posted by Marshall Hansen
Posted by Marshall Hansen