Carnivals: May 2008 Archives

The guidelines for this carnival. Frankly, the submissions this time were (as a group) pathetic.

As always, I arranged the entries that met guidelines into three levels, based upon originality, usefulness to the consumer, and how much thought and effort and research went into an entry.

STRONGLY RECOMMENDED

There were no strongly recommended posts this time

RECOMMENDED

Frankly, I'm embarrassed to be part of this carnival, but there's got to be one entry worth reading, so I'm submitting A Good Listing Agent's Most Important Responsibility

MET GUIDELINES

"Demystifying" The Subprime Mortgage Crisis And Other Questions; An Interview With Dan Crittenden is one of the largest whitewashes that I've read in recent memory - but it meets guidelines. Anybody selling mortgage accelerators isn't exactly some kind of uber-analyzer looking out for the best interests of the public.

Buy a House for $100 a Month falls short of being recommended for several reasons. It doesn't make a case as to what the benefit - or potential benefit, anyway - will be. Not to mention that there is no such thing as a no down payment purchase for investment property. I never did have a single lender willing to do 100% of value on an investment property. You also have to consider alternative uses for the money, and make an allowance for repairs. It certainly doesn't consider the risk involved. Landlording is not a simple business, and focusing on cash flow only is an invitation to disaster. But with all of that said, there are many areas of the country where investment property makes sense in ways that it has not for several years.

Minimizing Risk & Reducing Stress While Buying a Foreclosure in the Poconos might have made the recommended category if not for the direct solicitations in the article.

SPAM AND OTHER RIDICULOUS SUBMISSIONS

"Community Disaster Preparedness Tips - Plan Ahead of Time" wasn't prepared for the disaster of not meeting guidelines. Not that it's not a good idea, just that it's not appropriate for this carnival.

"What I like about Credit Cards" was even worse. Spam spam spam spam spamity spam. Couldn't be bothered to read guidelines or submit something that was even vaguely on topic. Somewhere there's got to be an empty oubliette that can be used for this sort of "author"

"Micropayments Make Cents" was generic garbage. Strike One. I've probably seen fifty thousand better articles with more specific, more useful advice on paying off debt. Strike Two. Nor was it even close to the guidelines. Strike Three, and they're out of here. Loser.

Dang. And I was so happy not to have any of those last time.

For those who might object to the treatment their submission received, the relevant information has been in the guidelines since before submissions were being accepted for this carnival. Having been told to read the guidelines, you willingly submitted these posts. Live with it.

Consumer Focused Carnival of Real Estate will return in two weeks (June 4th, 2008), here at Searchlight Crusade, unless someone else wants to host. Deadline for submissions will be June 2nd.

I'm a lot less happy about this one than the one two weeks ago. On the one hand, nothing that came in was so obviously inappropriate that I had to ridicule it in the SPAM section. On the other hand, only four entries came in where the information they contained actually outweighed the nonsense and just plain bad information, and several were link chumming. This is pathetic.

The guidelines for this carnival.

As always, I arranged the entries that met guidelines into three levels, based upon originality, usefulness to the consumer, and how much thought and effort and research went into an entry.

STRONGLY RECOMMENDED

There were no strongly recommended entries this time.

RECOMMENDED

Tallahassee Real Estate Blog The "No Brainer" Investment. I do question some of the numbers and assumptions, and they just wouldn't work in many areas of the country, but it's a worthwhile idea.

Why Buyers Should Avoid Short Sales

MET GUIDELINES

50 Year Mortgages - A Compound Interest Nightmare. I agree about the fifty year mortgage, However, sacrificing other investments to pay the property off in 15 years (or 10) isn't very smart either. Haul out a calculator and or spreadsheet and do the math.

How to Make Sure this is your Dream Home: 7 Practical Tips The numbers in tip number four are flat out wrong, at least for the US, but it's still a good point.

SPAM AND OTHER RIDICULOUS SUBMISSIONS

Blessedly, there were none of these submissions this week, although one submission praising Negative Amortization loans almost got the super-special treatment. I've written many times about the downsides of the Negative Amortization loan, and it's extremely difficult to construct a scenario where it actually benefits a prospective borrower.

For those who might object to the treatment their submission received, the relevant information has been in the guidelines since before submissions were being accepted for this carnival. Having been told to read the guidelines, you willingly submitted these posts. Live with it.

Consumer Focused Carnival of Real Estate will return in two weeks (May 21st, 2008), here at Searchlight Crusade, unless someone else wants to host. Deadline for submissions will be May 19th.