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aztecnology
ParticipantI saw his advertisement in the paper over the weekend. There was some fine print to it and I just glossed over it. Not sure how different his claim is vs. realtors who do the same thing if they can’t sell your home…
ParticipantI was talking to a vp at title company this past week who’s been in the biz a number of years, and the question of lenders not taking short sales came up. He said that in many cases if there is more than 1 lender, 80/20 scenario, a lot of times if the second lien holder does not agree to the short sale then the first lien holder will not play ball also. Of course this happened last year, and a lot has changed in the marketplace since then…
ParticipantSame here, I’ve got my eyes on a couple neighborhoods that I could settle into. I’ve been in out of the valley a few times. Family moved to Murrieta in 1989 and we moved out to Huntington Beach in 1994. Those were some pretty lean years out here, people couldn’t give houses away, developments sat empty with graded pads where I use to ride my bike or take shortcuts through the neighborhoods by jumping the fences of the vacant houses. Moved back briefly in 1996 and I wish I would have stayed, I was 18 and just married, and the wife and I looked at some houses in Alta Murrieta behind the fireman’s park/ fire station – we could have got a house for about $88k at the time – $700/month or so with taxes, at the time the cal oaks & los al apartments were renting for about $550/month – shoulda coulda woulda. Finally moved back again in ’04 where I had graduated college and had a good job, but could only afford my current condo. So now I wait as we’re busting at the seems to make our move in 1-2 years for the bigger house with the backyard/pool…
ParticipantThe bubble in the valley is just now getting really bubbilicious.
Go to foreclosure.com do a search on 92562, and select foreclosure and preforeclosure and complete the search.
462 properties.
Sort by street name, go to page 2
Look for Belcara Pl, you will find 8 houses in a state of foreclosure.
This particular culdesac has 11 houses.
8 out of 11 in foreclouse….
This is in the copper canyon area, near where calle del oso oro meets clinton keith.
Most of these houses sold in the fall of ’05 in the mid $600’s. The banks have started pricing at $575k.
ParticipantWhy don’t you have a seat right there… 🙂
ParticipantPelosi didn’t do shit….
Blair: No deal done for UK sailors
“Ahmadinejad said the release of the Britons was a goodwill gesture in honor of last weekend’s observance of the birthday of Mohammed, “the holy prophet of Islam — the center of all goodness.” And, according to Iran’s state-run news agency, the upcoming Christian holiday of Easter”
http://www.cnn.com/2007/WORLD/meast/04/05/iran.sailors/index.html
ParticipantYou live in your primary residence 2 of the last 5 years, and you get 250k single or 500k married.
If you want to invest that money tax free, invest in tax free muni bonds…
For example, not a recommendation:
Participant“if the house changes hands under the trust… and then is sold… do I pay taxes on the “gain”… or do I take the house with the new “higher” current market value basis..such that the gains made over the past 25 years are insulated from any taxes?”
I believe when the beneficiaries get the house, it will be re-appraised, and their basis will be on today’s market value.
ParticipantPerhaps a Nigerian prince can help you…?
Participant“because the government may drop interest rate to alleviate the pressure that has been placed on families?”
What happens if they raise rates…?
ParticipantI feel the same way as cooprider, I think now’s a really good time to get your license, which is what I’m doing. The people who are trying to make their career at real estate will eventually follow the path of natural selection.
I plan on representing myself when I buy my own home, and in the mean time wait for prices to come down. In the mean time I think I should be able to do a few loans/refi’s and maybe represent a couple buyers or sellers, for me it’s going to be some extra downpayment/savings/vacation money.
The way I see it, regardless of the market, people will always need to buy and sell. I don’t need to be out hustling for every deal out there to put food on the table, I already have a pretty good job.
[daydream] A couple deals a year would allow me to take my family to Aspen for skiing in the winter, Maui for spring break, and Disneyworld for a summer vacation…[/daydream]
ParticipantAnyone know about statue sales in Malibu…?
“Fires Destroy 8 Homes In Malibu- Fires fanned by Santa Ana winds burned at least 12 homes as they spread to more than 10 acres Monday in Malibu, authorities said”.
January 8, 2007 at 10:07 AM in reply to: Murrieta home debtor stripped house of equity, kitchen cabinets, and pool equipment? #42940ParticipantIn French Valley, I don’t think that home would sell for that price if it wasn’t stripped! LMFAO!!11!1
Way too much competition on resales and new construction on that side of town. REO lenders are zainy, they have to keep the prices high to proctect their refi business…
ParticipantMassive fraud in my own backyard, this is great! I hope this unravels fast, and puts a stooper on any hopes of an ’07 spring rally in the valley. This is potentially well over 2,000 houses in the area, and I think this is the tip of the iceberg in SoCal housing fraud…
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