HOUSING: Feds suspend anti-flipping rule

[NotCranky]

I think a new Nobel peace prize category should be created for upper middle class 20-30% down, good neighborhood buyers. Something for those who fight against the injustice flippers, wetbacks and other people …rich or poor, insert into the aquisition process. In fact, if we could drive union wages down then housing prices would fall too.

Alternatively we could just never buy a house which would be the best thing for the market. Never buy a house and move in with family or friends. If we could turn away from a life of independent luxury and vouluntarily create increased density, on Mortgage free properties, then the banks would be screwed, Flippers would be screwed and there would be no buyers for the FHA to use as middle men to transfer the losses in the housing market to tax payers.People would be free from economic insecurity all around.

Simply requiring 20%-30% down would really have a very modest effect on to the evils of the debt for shelter system.Probably unintended consquences would make things as bad or worse for many people as it has ever been.

[UCGal]

[quote=CA renter]When I refer to the ~40% being investors, I’m including the off-market stuff like bulk sales, bulk MBS purchases, etc… in addition to flippers, landlords, second-home “investors,” etc. Hundreds of billions of dollars (trillions???) are being transacted that we are not privy to. What we see on the MLS is likely a very small portion of what’s really going on, IMHO.
[/quote]

Why are landlords who buy a property, hold it, rent it out, pay the mortgage, insurance, maintenance, etc in the same category as bulk sale buyers and flippers?

Disclaimer – I’m considering getting into the landlord business if I can find a deal that pencils. And I’d pay cash at the steps if it would get me a better deal. I’d be stupid not to consider trustee sales as a way of reducing my investment hit.

[UCGal]

[quote=CA renter]When I refer to the ~40% being investors, I’m including the off-market stuff like bulk sales, bulk MBS purchases, etc… in addition to flippers, landlords, second-home “investors,” etc. Hundreds of billions of dollars (trillions???) are being transacted that we are not privy to. What we see on the MLS is likely a very small portion of what’s really going on, IMHO.
[/quote]

Why are landlords who buy a property, hold it, rent it out, pay the mortgage, insurance, maintenance, etc in the same category as bulk sale buyers and flippers?

Disclaimer – I’m considering getting into the landlord business if I can find a deal that pencils. And I’d pay cash at the steps if it would get me a better deal. I’d be stupid not to consider trustee sales as a way of reducing my investment hit.

[UCGal]

[quote=CA renter]When I refer to the ~40% being investors, I’m including the off-market stuff like bulk sales, bulk MBS purchases, etc… in addition to flippers, landlords, second-home “investors,” etc. Hundreds of billions of dollars (trillions???) are being transacted that we are not privy to. What we see on the MLS is likely a very small portion of what’s really going on, IMHO.
[/quote]

Why are landlords who buy a property, hold it, rent it out, pay the mortgage, insurance, maintenance, etc in the same category as bulk sale buyers and flippers?

Disclaimer – I’m considering getting into the landlord business if I can find a deal that pencils. And I’d pay cash at the steps if it would get me a better deal. I’d be stupid not to consider trustee sales as a way of reducing my investment hit.

[UCGal]

[quote=CA renter]When I refer to the ~40% being investors, I’m including the off-market stuff like bulk sales, bulk MBS purchases, etc… in addition to flippers, landlords, second-home “investors,” etc. Hundreds of billions of dollars (trillions???) are being transacted that we are not privy to. What we see on the MLS is likely a very small portion of what’s really going on, IMHO.
[/quote]

Why are landlords who buy a property, hold it, rent it out, pay the mortgage, insurance, maintenance, etc in the same category as bulk sale buyers and flippers?

Disclaimer – I’m considering getting into the landlord business if I can find a deal that pencils. And I’d pay cash at the steps if it would get me a better deal. I’d be stupid not to consider trustee sales as a way of reducing my investment hit.

[UCGal]

[quote=CA renter]When I refer to the ~40% being investors, I’m including the off-market stuff like bulk sales, bulk MBS purchases, etc… in addition to flippers, landlords, second-home “investors,” etc. Hundreds of billions of dollars (trillions???) are being transacted that we are not privy to. What we see on the MLS is likely a very small portion of what’s really going on, IMHO.
[/quote]

Why are landlords who buy a property, hold it, rent it out, pay the mortgage, insurance, maintenance, etc in the same category as bulk sale buyers and flippers?

Disclaimer – I’m considering getting into the landlord business if I can find a deal that pencils. And I’d pay cash at the steps if it would get me a better deal. I’d be stupid not to consider trustee sales as a way of reducing my investment hit.

[garysears]

“The banks should be forced by the FDIC and other govt regulators to take these properties back and they should then be forced to auction them off on a national site (with a minimum 30-day marketing time) where online bidders are pre-qualified through the GSEs and every transaction can be tracked.”

It occurred to me one day a few weeks ago that Ebay would be a much better way of selling properties than the current system. It is just unbelievable to me that bids offered on properties are not public knowledge. If I am interested in a property I should immediately be able to see what offers have already been made so I can judge whether it is worth my time.

This monopoly on RE information has got to end. The only “fair” part of the current system is the Trustee Sale. After that, all bets are off, and the game begins. A game of deceit and misinformation that I’d rather not play.

[garysears]

“The banks should be forced by the FDIC and other govt regulators to take these properties back and they should then be forced to auction them off on a national site (with a minimum 30-day marketing time) where online bidders are pre-qualified through the GSEs and every transaction can be tracked.”

It occurred to me one day a few weeks ago that Ebay would be a much better way of selling properties than the current system. It is just unbelievable to me that bids offered on properties are not public knowledge. If I am interested in a property I should immediately be able to see what offers have already been made so I can judge whether it is worth my time.

This monopoly on RE information has got to end. The only “fair” part of the current system is the Trustee Sale. After that, all bets are off, and the game begins. A game of deceit and misinformation that I’d rather not play.

[garysears]

“The banks should be forced by the FDIC and other govt regulators to take these properties back and they should then be forced to auction them off on a national site (with a minimum 30-day marketing time) where online bidders are pre-qualified through the GSEs and every transaction can be tracked.”

It occurred to me one day a few weeks ago that Ebay would be a much better way of selling properties than the current system. It is just unbelievable to me that bids offered on properties are not public knowledge. If I am interested in a property I should immediately be able to see what offers have already been made so I can judge whether it is worth my time.

This monopoly on RE information has got to end. The only “fair” part of the current system is the Trustee Sale. After that, all bets are off, and the game begins. A game of deceit and misinformation that I’d rather not play.

[garysears]

“The banks should be forced by the FDIC and other govt regulators to take these properties back and they should then be forced to auction them off on a national site (with a minimum 30-day marketing time) where online bidders are pre-qualified through the GSEs and every transaction can be tracked.”

It occurred to me one day a few weeks ago that Ebay would be a much better way of selling properties than the current system. It is just unbelievable to me that bids offered on properties are not public knowledge. If I am interested in a property I should immediately be able to see what offers have already been made so I can judge whether it is worth my time.

This monopoly on RE information has got to end. The only “fair” part of the current system is the Trustee Sale. After that, all bets are off, and the game begins. A game of deceit and misinformation that I’d rather not play.

[garysears]

“The banks should be forced by the FDIC and other govt regulators to take these properties back and they should then be forced to auction them off on a national site (with a minimum 30-day marketing time) where online bidders are pre-qualified through the GSEs and every transaction can be tracked.”

It occurred to me one day a few weeks ago that Ebay would be a much better way of selling properties than the current system. It is just unbelievable to me that bids offered on properties are not public knowledge. If I am interested in a property I should immediately be able to see what offers have already been made so I can judge whether it is worth my time.

This monopoly on RE information has got to end. The only “fair” part of the current system is the Trustee Sale. After that, all bets are off, and the game begins. A game of deceit and misinformation that I’d rather not play.

[SD Realtor]

That is the thing. Nobody has to play. Go find a hard money lender and buy the home from trustee sale. Buy the home and refinance it 6 months down the road.

[SD Realtor]

That is the thing. Nobody has to play. Go find a hard money lender and buy the home from trustee sale. Buy the home and refinance it 6 months down the road.

[SD Realtor]

That is the thing. Nobody has to play. Go find a hard money lender and buy the home from trustee sale. Buy the home and refinance it 6 months down the road.

[SD Realtor]

That is the thing. Nobody has to play. Go find a hard money lender and buy the home from trustee sale. Buy the home and refinance it 6 months down the road.

[Author]

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