Wingy is all grown up!

For those that think housing prices are going to continue to
increase...

Northern Virginia Available Homes Inventory

March 1, 2005(left number) April 2, 2006 (right number)
Alexandria City 121 846
Arlington County 159 807
Fairfax City 26 90
Fairfax County 800 5,764
Falls Church City 6 46
Loudoun County 708 3,369
Manassas City 34 269
Manassas Park 18 125
Prince Will. Cty 673 3,708

Source: Virginiamls.com



A couple of years ago I bought a house. Conforming loan, 30% down, 15
year fixed. I got it at 4.625%. Or, i could have gone through the
company Wingie was working for and paid 6.5%. Needless to say, I
didn't use Wingie as my mortgage broker.

Here's what I don't understand. Wingie is promising his investors 12%.
Lenders are climbing over each other to re-fi stuff in the mid 6%
range. If I want to borrow money against real estate, under the
conditions Wingie has on his website (70% loan to value, no rural, no
construction loans, no rehab, etc) why would I go to him and pay 12%+?