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carlsbadworker
Participant[quote=TemekuT]carlsbadworker:
The entire Morgan Hill community pays the same HOA fee, which is currently $99 per month. Perhaps you are confusing Morgan Valley with Morgan Hill. Morgan Valley’s HOA is approx $35 per month and DOES NOT include any use of the Morgan Hill facilities. Many realtors post incorrect information in their listings, such as indicating Morgan Valley has use of the Morgan Hill facilities, or failing to state that there is an HOA fee connected with a property. They also often misstate the amount of the HOA fee.[/quote]
No. I am not confusing Morgan Valley with Morgan Hill. I guess it was just agents posting wrong info in the listing. Like this one says $140:
http://www.redfin.com/CA/Temecula/33897-Flora-Springs-St-92592/home/12508581I also got seller agent on this house explaining to me why this house HOA is $99 lower than other houses that are collecting $140 around it (he gave me reasons on different builders, etc, and I am still confused afterwards):
http://www.redfin.com/CA/Temecula/44795-Rutherford-St-92592/home/12509074It is good to know that entire Morgan Hill has only $99 per month HOA.
ParticipantThe question is do they default with negative equity? Some investor groups (such as Bruce Norris) claims there is no significance in the level of default.
ParticipantTG/TemekuT:
Do you know why in Morgan Hills there seems to be variation of HOA fees from houses to houses? What is that based on? (I thought if you have the same fancy club house, you should pay the same).
I also have found a neighborhood in Temecula where one house has HOA in their listing, but the house next to it on the same street doesn’t. It kind of makes me puzzle.
Participant[quote=NicMM]Ok, I see everyone is sided with the tenants. Thanks for the honest opinion.
NicMM[/quote]
Not everyone was sided with the tenants. A lawyer is always sided with a potential client who has more money (in this case, the landlord) to pay his service.
OK. I just can’t resist making fun of scaredy.
ParticipantIt is your contract. You are the one who came up with it. And now you decide to break it for your financial convenience? I don’t think there is a judge who would not side with the tenants in this case.
ParticipantYou should be able to contribute to pre-tax income to HSA/FSA…it would lower your AGI. Then it doesn’t matter whether your medical expense >10% or not.
Participant[quote=Jazzman]Firstly, can you trust the data? Secondly, they have a huge advantage is seeing the US bubble unfold, and thirdly state capitalism will have a firmer grip on things.[/quote]
That’s actually more dangerous. I refer to the belief that the state capitalism will have everything under control…just like the belief that Lehman will not bankrupt. The huge advantage that the Chinese have is their income is rising fast. So a different yardstick should be used to judge whether it is over-priced or not over there. Similar to price-to-income, price-to-rental is also not comparable because the landlord has very little holding costs (with zero property tax and very low maintenance fees due to cheap labors). So it is only reasonable to have higher multiples comparing to US…but the question is how much. My personal belief is that it has gone over the rational limit over the last two to three years but it was actually pretty reasonable before then.
Also seeing the US bubble unfold is not as big a advantage as you would think, people always discount things that do not happen around them. That’s the greatest insight that Mark Zuckerberg had: “a squirrel dying in your front yard may be more relevant to your interests right now than people dying in Africa.” Otherwise, how do you get so much nonsense in social media? Do I have to know that you walked your dog?
Participant[quote=jimmyle]Eventhough home prices in China might go down significantly, you won’t see people walking away from their homes like in the US simply because at least 30 percent of the purchase price is required for a down payment and 50 percent for the purchase of a second home.[/quote]
Yes, they won’t walk away but that doesn’t prevent them from walking out to the street:
http://blogs.wsj.com/chinarealtime/2011/10/25/shanghai-homeowners-smash-showroom-in-protest-over-falling-prices/And since most developers and local governments use the bank’s money to play the housing bubble there. Expect it to hit the real economy from the banking side as well through just a different way…
Participant[quote=flu]
I sold VXX yesterday, because I wanted my $1500 bucks.
and I don’t care 🙂Sell 2,000 VXX BARCLAYS BANK IPATH NEW IPATH S&P 500 VIX SHORT
Details $20.272 $40,534.60Thanks for reminding me to buy it back this morning…Now if only Valero and Alcoa pop more, I’d be happy.
My side gig is slow these days. Mainly because I had to halt some progress while I was out. Maybe I should just try to be a daytrader.. ( I’m kidding, I’m kidding)…
….But it is a better year for me (for now)…
Edit… I’m back in VXX at $19.72…. Lol/.[/quote]
I am curious why you didn’t try to get VC yourself and you seem to know enough programmers in SD to work for you while you are out…just a thought.
And instead of day trading stocks, piggington should setup a fund to day-trade (a.k.a. flipping) houses now the crowdfunding is signed into law:
http://www.cnn.com/2012/04/09/opinion/wilkinson-jobs-act/?hpt=hp_bn7Rents are rising…and sdr knows how to get houses, what are we waiting for?
Participant[quote=flu]Decisions decisions decisions.[/quote]
LOL. No one can predict the future. All you need is good luck and some good spirit before then.
In fact, I almost thought this is the year of flu yesterday: your health is improving; you have successfully predicted the equity market drop a week ago and VXX quickly rose after you bought it; you bought a rental with good timing … it seems that all you need is to have your side-gig company beating VC-backed firms in bay area.
But then VXX is tanking again today…so who knows. Luck is more important than everything else.
Participant[quote=CA renter] Patience, carlsbadworker.[/quote]
Thanks. Like flu, I am only looking for an upgrade, so that’s OK.
Participant[quote=CA renter]Being a potential buyer right now must be extremely frustrating and maddening.[/quote]
That’s right. I am only kidding in the other thread that after flu bought now we can see price drop. I cannot imagine how we will ever see price drop in this market…because I am a potential buyer right now, I feel the market first hand. I made bids on 4 houses in the last 3 months at the listing price. Each time, I am either being outbid or beaten by a cash buyer. Good houses go pending within 4-5 days, sometimes within one day. You have to have a right strategy to win a house, and apparently I don’t.
ParticipantSo now the housing price could finally start to accelerate its drop again since flu has just bought?
Reuters just had an article on the second foreclosure wave and the release of shadow inventory:
http://www.reuters.com/article/2012/04/04/us-foreclosure-idUSBRE83319E20120404ParticipantDo you have the ratio of distressed sales over total sales? DQNews says it is over 50% in SoCal. That doesn’t bode well for realtors as the sales might keep declining for the year because there will be less inventory and eventually there is a standoff.
Even many of the standard sales now are flipper homes with a turn around time within 90 days. So the real statistics is alarming. -
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