[bearishgurl]

beselfish, to answer your question on where things are heading, all current signs still point downward. Although distressed property in 91914 and 91915 sells quickly after it is listed, REO lenders are in collusion with each other to “trickle out” one or two of the same or “mirror-image” models on the market at any one time, so as to hopefully create a “bidding war” among buyers and thus get a higher price than what the market would bear if all the distressed inventory was dumped on the market at once.

There is still a TREMENDOUS AMOUNT of “shadow inventory” in various stages of default/REO there which has yet to be marketed. I don’t think prices will completely “shake out” and stabilize in those areas (ALL built since 2000) until at least 2014.

[bearishgurl]

beselfish, to answer your question on where things are heading, all current signs still point downward. Although distressed property in 91914 and 91915 sells quickly after it is listed, REO lenders are in collusion with each other to “trickle out” one or two of the same or “mirror-image” models on the market at any one time, so as to hopefully create a “bidding war” among buyers and thus get a higher price than what the market would bear if all the distressed inventory was dumped on the market at once.

There is still a TREMENDOUS AMOUNT of “shadow inventory” in various stages of default/REO there which has yet to be marketed. I don’t think prices will completely “shake out” and stabilize in those areas (ALL built since 2000) until at least 2014.

[bearishgurl]

beselfish, to answer your question on where things are heading, all current signs still point downward. Although distressed property in 91914 and 91915 sells quickly after it is listed, REO lenders are in collusion with each other to “trickle out” one or two of the same or “mirror-image” models on the market at any one time, so as to hopefully create a “bidding war” among buyers and thus get a higher price than what the market would bear if all the distressed inventory was dumped on the market at once.

There is still a TREMENDOUS AMOUNT of “shadow inventory” in various stages of default/REO there which has yet to be marketed. I don’t think prices will completely “shake out” and stabilize in those areas (ALL built since 2000) until at least 2014.

[bearishgurl]

[quote=flu]….One thing good that did result from obamacare though is that genetic test results cannot be used to discriminate when it comes to insurance.

http://www.ornl.gov/sci/techresources/Human_Genome/medicine/genetest.shtml#insurance

Also known as GINA.[/quote]

YES!! LOT’s of people have had genetic testing and have a gene for an illness but are NOT ill themselves. These people were discriminated against for individual health coverage (because the testing result was part of their medical record) until Bush signed GINA (on his way out the door).

I will give Bush credit where credit is due for this important legacy.

[bearishgurl]

[quote=flu]….One thing good that did result from obamacare though is that genetic test results cannot be used to discriminate when it comes to insurance.

http://www.ornl.gov/sci/techresources/Human_Genome/medicine/genetest.shtml#insurance

Also known as GINA.[/quote]

YES!! LOT’s of people have had genetic testing and have a gene for an illness but are NOT ill themselves. These people were discriminated against for individual health coverage (because the testing result was part of their medical record) until Bush signed GINA (on his way out the door).

I will give Bush credit where credit is due for this important legacy.

[bearishgurl]

[quote=flu]….One thing good that did result from obamacare though is that genetic test results cannot be used to discriminate when it comes to insurance.

http://www.ornl.gov/sci/techresources/Human_Genome/medicine/genetest.shtml#insurance

Also known as GINA.[/quote]

YES!! LOT’s of people have had genetic testing and have a gene for an illness but are NOT ill themselves. These people were discriminated against for individual health coverage (because the testing result was part of their medical record) until Bush signed GINA (on his way out the door).

I will give Bush credit where credit is due for this important legacy.

[bearishgurl]

[quote=flu]….One thing good that did result from obamacare though is that genetic test results cannot be used to discriminate when it comes to insurance.

http://www.ornl.gov/sci/techresources/Human_Genome/medicine/genetest.shtml#insurance

Also known as GINA.[/quote]

YES!! LOT’s of people have had genetic testing and have a gene for an illness but are NOT ill themselves. These people were discriminated against for individual health coverage (because the testing result was part of their medical record) until Bush signed GINA (on his way out the door).

I will give Bush credit where credit is due for this important legacy.

[bearishgurl]

[quote=flu]….One thing good that did result from obamacare though is that genetic test results cannot be used to discriminate when it comes to insurance.

http://www.ornl.gov/sci/techresources/Human_Genome/medicine/genetest.shtml#insurance

Also known as GINA.[/quote]

YES!! LOT’s of people have had genetic testing and have a gene for an illness but are NOT ill themselves. These people were discriminated against for individual health coverage (because the testing result was part of their medical record) until Bush signed GINA (on his way out the door).

I will give Bush credit where credit is due for this important legacy.

[bearishgurl]

[quote=SD Realtor]Yes my sfr in sd is rented to a family with a child. My condo is not. My out of state rentals have two families and one couple woth no kids. I have been a landlord for 9 years now and have never had anyone skip out on rent or have any party animal tenants that you referred two. Prior to getting out of state sfrs I rented exclusively to single people or couples without kids and never had any problems. By far the homes with children have required more work when turnover occurs.

This is based on experience rather then speculation.[/quote]

My experience with renting to families was also that they required more work. There was often crayon on the wall, stains on the floors (due to crafts/paint), playdoh stuck to the carpet, a “snuck-in” cat who tore up the blinds/drapery, marbles in the garbage disposer which ruined it, paint spilled on the patio, carbuereter cleaned with “Gumout” on the LR floor. Often the parents didn’t clean up when they moved and I kept their deposit, which they didn’t care about. Back then, I could only collect about $650 in damage deposit. When I tried to ask for more, I didn’t get any applications. Upon move-outs, I usually spent between $75 – $150 to rent a carpet cleaner and the rest on missing parts, repair items and dump fees. The other $500 paid me for my time (often 2 full wknds and 2-4 weeknights of cleaning, painting and making repairs between tenants. I also worked 40 hrs per week during the day back then and my spouse was often deployed.

After nine years of this, I was tired, sold at a break even/small loss and called it a day. Landlording isn’t for everyone. I DID take several tenants to small claims court for excess damages and was able to collect only about $360 or so. The rest of them were VERY problematic to collect on.

Fortunately, typical damage deposits are MUCH higher today and a prospective landlord can run a credit report on a tenant-applicant and also now see online whether they have had a local unlawful detainer action filed against them. This was not possible back then. Upon receiving a “qualified” application, I just called “previous landlords” (after being given their phone numbers by my applicants), verified their employment and checked the civil register in person for UD’s (if the applicants were “local”). For all I know, I was probably talking to their “relatives,” lol (instead of former landlords). Some of my tenants transferred to SD thru the military from out of state.

[bearishgurl]

[quote=SD Realtor]Yes my sfr in sd is rented to a family with a child. My condo is not. My out of state rentals have two families and one couple woth no kids. I have been a landlord for 9 years now and have never had anyone skip out on rent or have any party animal tenants that you referred two. Prior to getting out of state sfrs I rented exclusively to single people or couples without kids and never had any problems. By far the homes with children have required more work when turnover occurs.

This is based on experience rather then speculation.[/quote]

My experience with renting to families was also that they required more work. There was often crayon on the wall, stains on the floors (due to crafts/paint), playdoh stuck to the carpet, a “snuck-in” cat who tore up the blinds/drapery, marbles in the garbage disposer which ruined it, paint spilled on the patio, carbuereter cleaned with “Gumout” on the LR floor. Often the parents didn’t clean up when they moved and I kept their deposit, which they didn’t care about. Back then, I could only collect about $650 in damage deposit. When I tried to ask for more, I didn’t get any applications. Upon move-outs, I usually spent between $75 – $150 to rent a carpet cleaner and the rest on missing parts, repair items and dump fees. The other $500 paid me for my time (often 2 full wknds and 2-4 weeknights of cleaning, painting and making repairs between tenants. I also worked 40 hrs per week during the day back then and my spouse was often deployed.

After nine years of this, I was tired, sold at a break even/small loss and called it a day. Landlording isn’t for everyone. I DID take several tenants to small claims court for excess damages and was able to collect only about $360 or so. The rest of them were VERY problematic to collect on.

Fortunately, typical damage deposits are MUCH higher today and a prospective landlord can run a credit report on a tenant-applicant and also now see online whether they have had a local unlawful detainer action filed against them. This was not possible back then. Upon receiving a “qualified” application, I just called “previous landlords” (after being given their phone numbers by my applicants), verified their employment and checked the civil register in person for UD’s (if the applicants were “local”). For all I know, I was probably talking to their “relatives,” lol (instead of former landlords). Some of my tenants transferred to SD thru the military from out of state.

[bearishgurl]

[quote=SD Realtor]Yes my sfr in sd is rented to a family with a child. My condo is not. My out of state rentals have two families and one couple woth no kids. I have been a landlord for 9 years now and have never had anyone skip out on rent or have any party animal tenants that you referred two. Prior to getting out of state sfrs I rented exclusively to single people or couples without kids and never had any problems. By far the homes with children have required more work when turnover occurs.

This is based on experience rather then speculation.[/quote]

My experience with renting to families was also that they required more work. There was often crayon on the wall, stains on the floors (due to crafts/paint), playdoh stuck to the carpet, a “snuck-in” cat who tore up the blinds/drapery, marbles in the garbage disposer which ruined it, paint spilled on the patio, carbuereter cleaned with “Gumout” on the LR floor. Often the parents didn’t clean up when they moved and I kept their deposit, which they didn’t care about. Back then, I could only collect about $650 in damage deposit. When I tried to ask for more, I didn’t get any applications. Upon move-outs, I usually spent between $75 – $150 to rent a carpet cleaner and the rest on missing parts, repair items and dump fees. The other $500 paid me for my time (often 2 full wknds and 2-4 weeknights of cleaning, painting and making repairs between tenants. I also worked 40 hrs per week during the day back then and my spouse was often deployed.

After nine years of this, I was tired, sold at a break even/small loss and called it a day. Landlording isn’t for everyone. I DID take several tenants to small claims court for excess damages and was able to collect only about $360 or so. The rest of them were VERY problematic to collect on.

Fortunately, typical damage deposits are MUCH higher today and a prospective landlord can run a credit report on a tenant-applicant and also now see online whether they have had a local unlawful detainer action filed against them. This was not possible back then. Upon receiving a “qualified” application, I just called “previous landlords” (after being given their phone numbers by my applicants), verified their employment and checked the civil register in person for UD’s (if the applicants were “local”). For all I know, I was probably talking to their “relatives,” lol (instead of former landlords). Some of my tenants transferred to SD thru the military from out of state.

[bearishgurl]

[quote=SD Realtor]Yes my sfr in sd is rented to a family with a child. My condo is not. My out of state rentals have two families and one couple woth no kids. I have been a landlord for 9 years now and have never had anyone skip out on rent or have any party animal tenants that you referred two. Prior to getting out of state sfrs I rented exclusively to single people or couples without kids and never had any problems. By far the homes with children have required more work when turnover occurs.

This is based on experience rather then speculation.[/quote]

My experience with renting to families was also that they required more work. There was often crayon on the wall, stains on the floors (due to crafts/paint), playdoh stuck to the carpet, a “snuck-in” cat who tore up the blinds/drapery, marbles in the garbage disposer which ruined it, paint spilled on the patio, carbuereter cleaned with “Gumout” on the LR floor. Often the parents didn’t clean up when they moved and I kept their deposit, which they didn’t care about. Back then, I could only collect about $650 in damage deposit. When I tried to ask for more, I didn’t get any applications. Upon move-outs, I usually spent between $75 – $150 to rent a carpet cleaner and the rest on missing parts, repair items and dump fees. The other $500 paid me for my time (often 2 full wknds and 2-4 weeknights of cleaning, painting and making repairs between tenants. I also worked 40 hrs per week during the day back then and my spouse was often deployed.

After nine years of this, I was tired, sold at a break even/small loss and called it a day. Landlording isn’t for everyone. I DID take several tenants to small claims court for excess damages and was able to collect only about $360 or so. The rest of them were VERY problematic to collect on.

Fortunately, typical damage deposits are MUCH higher today and a prospective landlord can run a credit report on a tenant-applicant and also now see online whether they have had a local unlawful detainer action filed against them. This was not possible back then. Upon receiving a “qualified” application, I just called “previous landlords” (after being given their phone numbers by my applicants), verified their employment and checked the civil register in person for UD’s (if the applicants were “local”). For all I know, I was probably talking to their “relatives,” lol (instead of former landlords). Some of my tenants transferred to SD thru the military from out of state.

[bearishgurl]

[quote=SD Realtor]Yes my sfr in sd is rented to a family with a child. My condo is not. My out of state rentals have two families and one couple woth no kids. I have been a landlord for 9 years now and have never had anyone skip out on rent or have any party animal tenants that you referred two. Prior to getting out of state sfrs I rented exclusively to single people or couples without kids and never had any problems. By far the homes with children have required more work when turnover occurs.

This is based on experience rather then speculation.[/quote]

My experience with renting to families was also that they required more work. There was often crayon on the wall, stains on the floors (due to crafts/paint), playdoh stuck to the carpet, a “snuck-in” cat who tore up the blinds/drapery, marbles in the garbage disposer which ruined it, paint spilled on the patio, carbuereter cleaned with “Gumout” on the LR floor. Often the parents didn’t clean up when they moved and I kept their deposit, which they didn’t care about. Back then, I could only collect about $650 in damage deposit. When I tried to ask for more, I didn’t get any applications. Upon move-outs, I usually spent between $75 – $150 to rent a carpet cleaner and the rest on missing parts, repair items and dump fees. The other $500 paid me for my time (often 2 full wknds and 2-4 weeknights of cleaning, painting and making repairs between tenants. I also worked 40 hrs per week during the day back then and my spouse was often deployed.

After nine years of this, I was tired, sold at a break even/small loss and called it a day. Landlording isn’t for everyone. I DID take several tenants to small claims court for excess damages and was able to collect only about $360 or so. The rest of them were VERY problematic to collect on.

Fortunately, typical damage deposits are MUCH higher today and a prospective landlord can run a credit report on a tenant-applicant and also now see online whether they have had a local unlawful detainer action filed against them. This was not possible back then. Upon receiving a “qualified” application, I just called “previous landlords” (after being given their phone numbers by my applicants), verified their employment and checked the civil register in person for UD’s (if the applicants were “local”). For all I know, I was probably talking to their “relatives,” lol (instead of former landlords). Some of my tenants transferred to SD thru the military from out of state.

[bearishgurl]

[quote=flu]Ok folks,

For folks in the know. Can someone quickly explain to me what is left from the health care reform (obamacare) and how it’s suppose to benefit the greater good of people?

How much of the original reform bill is still intact?

What I have seen so far is:

1)My out of pocket insurance expenses have increased significantly.

2)The amount of coverage has decreased significantly

3)Company has reduced what it pays to insurance but passed more of the cost on to individuals.

4)And now lower appeals court is saying not everyone needs to pay for a mandatory insurance plan….

So what exactly is left in this “reform”?????[/quote]

flu, I have an HDHP individual policy (which I had to actually rigorously “qualify for”). My mo premium has gone up 3x since Obama signed the bill in March of 2010. I have only used the plan minimally since then so my ins co has made generous profits off me. It is clear to me that the reason for my 2x per year rate increases is due to my carrier having to accept a lot of people they didn’t want … for ANY price due to “Obamacare.” Even if many of these new “patients” are paying $1100 – $1500 mo for coverage for themselves only, I have no doubt that many of these newly-covered individuals are a “loss leader” for my carrier. Unfortunately, most of these “new insureds” are in my age group and a lot of the health problems they are suffering from now were self-inflicted due to past behavior.

My mo premium has risen 270% since 2006. Not only do they raise it on my birthday, they are allowed to raise it again six mos after my birthday.

Having insureds pick up the tab for the uninsured (who will not now have any incentive to cover themselves) will only raise the premiums of the insured more (who are trying to cover their a$$es and be responsible). That’s the way it’s always been. In my neck of the woods, these uninsureds are mostly illegal aliens availing themselves of emergency services at area hospitals.

If I wasn’t a current homeowner with actual “equity” (who fears a potential Medi-Cal, CMS or judgment lien for unexpected medical treatment/svcs), I too might be tempted to drop my coverage. It would certainly help me to be able to deploy this money elsewhere and pay all cash for my minimal dr visits. My “co-pays” are $40 – $50 visit, anyway, under my plan.

flu, just be grateful you have coverage and that there is now no lifetime cap on health coverage. I have put two relatives in the ground in my lifetime who HAD medical coverage that “maxed out” while they were still alive. On the one who had TWO policies which maxed out (a primary and secondary), it took us over four years to work out a deal with some of their providers to accept less than what was owed. Both were under the age of 65 at the time of their deaths.

Even if Obamacare ends up decimated due to piecemeal gutting by the courts, There are some good things about Obamacare and elimination of the annual and lifetime caps is one of them.

[bearishgurl]

[quote=flu]Ok folks,

For folks in the know. Can someone quickly explain to me what is left from the health care reform (obamacare) and how it’s suppose to benefit the greater good of people?

How much of the original reform bill is still intact?

What I have seen so far is:

1)My out of pocket insurance expenses have increased significantly.

2)The amount of coverage has decreased significantly

3)Company has reduced what it pays to insurance but passed more of the cost on to individuals.

4)And now lower appeals court is saying not everyone needs to pay for a mandatory insurance plan….

So what exactly is left in this “reform”?????[/quote]

flu, I have an HDHP individual policy (which I had to actually rigorously “qualify for”). My mo premium has gone up 3x since Obama signed the bill in March of 2010. I have only used the plan minimally since then so my ins co has made generous profits off me. It is clear to me that the reason for my 2x per year rate increases is due to my carrier having to accept a lot of people they didn’t want … for ANY price due to “Obamacare.” Even if many of these new “patients” are paying $1100 – $1500 mo for coverage for themselves only, I have no doubt that many of these newly-covered individuals are a “loss leader” for my carrier. Unfortunately, most of these “new insureds” are in my age group and a lot of the health problems they are suffering from now were self-inflicted due to past behavior.

My mo premium has risen 270% since 2006. Not only do they raise it on my birthday, they are allowed to raise it again six mos after my birthday.

Having insureds pick up the tab for the uninsured (who will not now have any incentive to cover themselves) will only raise the premiums of the insured more (who are trying to cover their a$$es and be responsible). That’s the way it’s always been. In my neck of the woods, these uninsureds are mostly illegal aliens availing themselves of emergency services at area hospitals.

If I wasn’t a current homeowner with actual “equity” (who fears a potential Medi-Cal, CMS or judgment lien for unexpected medical treatment/svcs), I too might be tempted to drop my coverage. It would certainly help me to be able to deploy this money elsewhere and pay all cash for my minimal dr visits. My “co-pays” are $40 – $50 visit, anyway, under my plan.

flu, just be grateful you have coverage and that there is now no lifetime cap on health coverage. I have put two relatives in the ground in my lifetime who HAD medical coverage that “maxed out” while they were still alive. On the one who had TWO policies which maxed out (a primary and secondary), it took us over four years to work out a deal with some of their providers to accept less than what was owed. Both were under the age of 65 at the time of their deaths.

Even if Obamacare ends up decimated due to piecemeal gutting by the courts, There are some good things about Obamacare and elimination of the annual and lifetime caps is one of them.

[Author]

Posts