Austin Real Estate Blog

So right after I wrote my last blog post, it was declared that Bank of America was going to buy Countrywide. At first I was a little annoyed that I had just written up the below blog post about 12 hours before the announcement. But then I realized that obviously Bank of America and Countrywide had entered into negotiations because of my blog. You might think that buyout negotiations take weeks and therefore could have nothing to do with my blog. But you are wrong. Here is probably what occurred.

Countrywide official 1 : Are you reading the Austin Real Estate Blog?

Countrywide official 2 : Of course. That is all I do. Even when he doesn't post for 2 weeks I just stare blankly at the screen.

Countrywide official 1 : We are going to go bankrupt! Let's call BOA and make a deal.

*calling*

BOA official : Are you reading the Austin Real Estate Blog? You guys are about to go bankrupt!

Countrywide official 1 : I know. Can you buy us or something?

BOA official : Oh. Sure why not.

BOA official : Let's do it just to spite that guy behind the Austin Real Estate blog. He is going to be so pissed tomorrow morning.

In all seriousness though- it's obvious that the BOA buyout makes the possibility of Countrywide going bankrupt much much lower. But I am going to keep the post up because the reasons in it (Countrywide's ineptitude at dealing with short sales) are still valid.

And of course because it's a historically important document/blog post for being the sole cause of the BOA buyout.