[garysears]

Thanks Jim! That is an incredible amount of information in just a few numbers. I don’t know what else the low tax base could imply other than a massive HELOC. It also explains why the asking rent had to be reduced.

Foreclosure prices in 92114 seem certain to soon be under 200k for similar sized places. It definitely seems like a foreclosure driven zipcode. I would consider buying but I just don’t see prices stabilizing. Every month I don’t buy I know I am saving thousands of dollars.

I wonder how long the owners here will bleed money before they give up on the market coming back. It is hard to not be tempted to buy when for the same payment with 20 percent down I could have a 15 year fixed loan.

I just think I’ll have buyer’s remorse if I buy now.

[garysears]

Wow! The unit 208 sale price finally posted to the county assessor’s site: $65,000. Now we are back to 2000-2001 prices.

That represents about 77% off peak for the complex.

745208 BRADLEY AVE EAST $65000 388 – 291 – 26 – 33 06/27/2008

[garysears]

Wow! The unit 208 sale price finally posted to the county assessor’s site: $65,000. Now we are back to 2000-2001 prices.

That represents about 77% off peak for the complex.

745208 BRADLEY AVE EAST $65000 388 – 291 – 26 – 33 06/27/2008

[garysears]

Wow! The unit 208 sale price finally posted to the county assessor’s site: $65,000. Now we are back to 2000-2001 prices.

That represents about 77% off peak for the complex.

745208 BRADLEY AVE EAST $65000 388 – 291 – 26 – 33 06/27/2008

[garysears]

Wow! The unit 208 sale price finally posted to the county assessor’s site: $65,000. Now we are back to 2000-2001 prices.

That represents about 77% off peak for the complex.

745208 BRADLEY AVE EAST $65000 388 – 291 – 26 – 33 06/27/2008

[garysears]

Wow! The unit 208 sale price finally posted to the county assessor’s site: $65,000. Now we are back to 2000-2001 prices.

That represents about 77% off peak for the complex.

745208 BRADLEY AVE EAST $65000 388 – 291 – 26 – 33 06/27/2008

[garysears]

Well that didn’t take long…

It seems like I just think it and it happens. Not buying last month saved me at least $20k. Check out these latest list prices at 745 Bradley:

#208 $74,900 (-73% from 274k peak)
#41 $84,900
#31 $97,900
#49 $99,000

Looks like the banks are bound and determined to find the bottom soon.

Now I have to readjust my expectations….yet again. Maybe I’d offer $60k. Almost makes me consider a condo again.

[garysears]

Well that didn’t take long…

It seems like I just think it and it happens. Not buying last month saved me at least $20k. Check out these latest list prices at 745 Bradley:

#208 $74,900 (-73% from 274k peak)
#41 $84,900
#31 $97,900
#49 $99,000

Looks like the banks are bound and determined to find the bottom soon.

Now I have to readjust my expectations….yet again. Maybe I’d offer $60k. Almost makes me consider a condo again.

[garysears]

Well that didn’t take long…

It seems like I just think it and it happens. Not buying last month saved me at least $20k. Check out these latest list prices at 745 Bradley:

#208 $74,900 (-73% from 274k peak)
#41 $84,900
#31 $97,900
#49 $99,000

Looks like the banks are bound and determined to find the bottom soon.

Now I have to readjust my expectations….yet again. Maybe I’d offer $60k. Almost makes me consider a condo again.

[garysears]

Well that didn’t take long…

It seems like I just think it and it happens. Not buying last month saved me at least $20k. Check out these latest list prices at 745 Bradley:

#208 $74,900 (-73% from 274k peak)
#41 $84,900
#31 $97,900
#49 $99,000

Looks like the banks are bound and determined to find the bottom soon.

Now I have to readjust my expectations….yet again. Maybe I’d offer $60k. Almost makes me consider a condo again.

[garysears]

Well that didn’t take long…

It seems like I just think it and it happens. Not buying last month saved me at least $20k. Check out these latest list prices at 745 Bradley:

#208 $74,900 (-73% from 274k peak)
#41 $84,900
#31 $97,900
#49 $99,000

Looks like the banks are bound and determined to find the bottom soon.

Now I have to readjust my expectations….yet again. Maybe I’d offer $60k. Almost makes me consider a condo again.

[garysears]

I believe this is the site advertised on itulip.com. I looked at that a year or two ago. Browsing through the people asking for loans (at the time) I was struck with the fact that many of these people were there because they weren’t considered credit worthy by regular lending institutions.

I decided the risk was too high and the return probably wasn’t pricing the risk appropriately. To me the site made no sense in light of easy credit. If credit gets much more difficult in the future I think the concept might be worth looking at again. It just seemed foolish to me to try to compete over what seemed to be mostly rejects from the banks who, as we know, will lend money to pretty much anyone.

If high inflation is in our future, I’d rather just buy silver as a hedge. It will perform better. I’m kicking myself for not buying a bunch of silver under $12 last year when I had a chunk of change. I still think it could be undervalued and will probably rise at a rate better than lending money to strangers.

[garysears]

I believe this is the site advertised on itulip.com. I looked at that a year or two ago. Browsing through the people asking for loans (at the time) I was struck with the fact that many of these people were there because they weren’t considered credit worthy by regular lending institutions.

I decided the risk was too high and the return probably wasn’t pricing the risk appropriately. To me the site made no sense in light of easy credit. If credit gets much more difficult in the future I think the concept might be worth looking at again. It just seemed foolish to me to try to compete over what seemed to be mostly rejects from the banks who, as we know, will lend money to pretty much anyone.

If high inflation is in our future, I’d rather just buy silver as a hedge. It will perform better. I’m kicking myself for not buying a bunch of silver under $12 last year when I had a chunk of change. I still think it could be undervalued and will probably rise at a rate better than lending money to strangers.

[garysears]

I believe this is the site advertised on itulip.com. I looked at that a year or two ago. Browsing through the people asking for loans (at the time) I was struck with the fact that many of these people were there because they weren’t considered credit worthy by regular lending institutions.

I decided the risk was too high and the return probably wasn’t pricing the risk appropriately. To me the site made no sense in light of easy credit. If credit gets much more difficult in the future I think the concept might be worth looking at again. It just seemed foolish to me to try to compete over what seemed to be mostly rejects from the banks who, as we know, will lend money to pretty much anyone.

If high inflation is in our future, I’d rather just buy silver as a hedge. It will perform better. I’m kicking myself for not buying a bunch of silver under $12 last year when I had a chunk of change. I still think it could be undervalued and will probably rise at a rate better than lending money to strangers.

[garysears]

I believe this is the site advertised on itulip.com. I looked at that a year or two ago. Browsing through the people asking for loans (at the time) I was struck with the fact that many of these people were there because they weren’t considered credit worthy by regular lending institutions.

I decided the risk was too high and the return probably wasn’t pricing the risk appropriately. To me the site made no sense in light of easy credit. If credit gets much more difficult in the future I think the concept might be worth looking at again. It just seemed foolish to me to try to compete over what seemed to be mostly rejects from the banks who, as we know, will lend money to pretty much anyone.

If high inflation is in our future, I’d rather just buy silver as a hedge. It will perform better. I’m kicking myself for not buying a bunch of silver under $12 last year when I had a chunk of change. I still think it could be undervalued and will probably rise at a rate better than lending money to strangers.

[Author]

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