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mycroft
ParticipantAs far as I know, only a government entity can put a tax lien on property – county for unpaid property tax, the state and feds for unpaid income taxes. I imagine what the HOA is doing is starting to foreclose its HOA lien, which it has by virture of unpaid fees. In California, this foreclosure is essentially like any other trustee sale. Once a notice of default is filed, the owner has 3 months to bring them current. After 3 months, a Notice of Sale is filed, and the sale can be held 21 days later. The sale may be held on the originally scheduled date, or may be cancelled if the owner pays the past due in full before the sale date. If the owner makes arrangements with the HOA to make payments on the past due, they may postpone it from month to month.
Check the owner’s name in the grantor-grantee index at the county to see if a notice of default has been filed. If it has, you’ll have about 4 months from the date it was filed.
ParticipantAs far as I know, only a government entity can put a tax lien on property – county for unpaid property tax, the state and feds for unpaid income taxes. I imagine what the HOA is doing is starting to foreclose its HOA lien, which it has by virture of unpaid fees. In California, this foreclosure is essentially like any other trustee sale. Once a notice of default is filed, the owner has 3 months to bring them current. After 3 months, a Notice of Sale is filed, and the sale can be held 21 days later. The sale may be held on the originally scheduled date, or may be cancelled if the owner pays the past due in full before the sale date. If the owner makes arrangements with the HOA to make payments on the past due, they may postpone it from month to month.
Check the owner’s name in the grantor-grantee index at the county to see if a notice of default has been filed. If it has, you’ll have about 4 months from the date it was filed.
ParticipantAs far as I know, only a government entity can put a tax lien on property – county for unpaid property tax, the state and feds for unpaid income taxes. I imagine what the HOA is doing is starting to foreclose its HOA lien, which it has by virture of unpaid fees. In California, this foreclosure is essentially like any other trustee sale. Once a notice of default is filed, the owner has 3 months to bring them current. After 3 months, a Notice of Sale is filed, and the sale can be held 21 days later. The sale may be held on the originally scheduled date, or may be cancelled if the owner pays the past due in full before the sale date. If the owner makes arrangements with the HOA to make payments on the past due, they may postpone it from month to month.
Check the owner’s name in the grantor-grantee index at the county to see if a notice of default has been filed. If it has, you’ll have about 4 months from the date it was filed.
ParticipantAs far as I know, only a government entity can put a tax lien on property – county for unpaid property tax, the state and feds for unpaid income taxes. I imagine what the HOA is doing is starting to foreclose its HOA lien, which it has by virture of unpaid fees. In California, this foreclosure is essentially like any other trustee sale. Once a notice of default is filed, the owner has 3 months to bring them current. After 3 months, a Notice of Sale is filed, and the sale can be held 21 days later. The sale may be held on the originally scheduled date, or may be cancelled if the owner pays the past due in full before the sale date. If the owner makes arrangements with the HOA to make payments on the past due, they may postpone it from month to month.
Check the owner’s name in the grantor-grantee index at the county to see if a notice of default has been filed. If it has, you’ll have about 4 months from the date it was filed.
ParticipantAs I said about a month ago, I drive past the Fashion Walk project every day. About a week ago, it just starting looking like there hasn’t been much new going on there. I just checked DR Horton’s web site and it’s no longer shown on the “Coming Soon” list. Google has a cached page from the website showing the project on August 24th, so it looks like it’s been abandoned pretty recently. The cached page also shows a project named Harbor Pointe in Oceanside that is also no longer shown on Horton’s current site.
Anyone care to bet on how long it will take to fill the hole in the valley across from Fashion Valley? I’m putting the over/under at four years, and I’m taking the over…the way over.
ParticipantI’m just the opposite on both things. After I finish eating, I hate having a dirty plate in front me. At home, I take it to the kitchen. When I’m eating out, I want the wait staff to remove it as quick as possible. And I really don’t like to drink room temperature water. As far as I’m concerned, fill that glass full of ice. If the waiter/waitress keeps the refills of coffee or ice tea coming, it will pretty much ensure a good tip.
ParticipantRio Rancho, New Mexico. Nice neighborhood on the outskirts of Albuquerque. Great Mexican food. Mostly sunny. Reasonable house prices. Just need a good job offer there, and I’d seriously think about it.
ParticipantAs I drive to work down Friars Road every morning, I’ve been watching the progress on a new complex called Fashion Walk. It’s located just across from Fashion Valley Mall. I just did a quick Google, and found out it’s supposed to be 161 units.
As far as I’m concerned, this would be high on the list of complexes I would hate to live in. Way too much traffic noise up and down Friars Road, cars idling pretty much all day long spewing toxic emissions while waiting to turn left into the mall, no view to the east or west, a view straight into the hillside to the north, and the mall to the south.
It’ll be interesting to see how quick they do sell. I hear tell there’s a sucker born every minute, and there’s been a bunch of minutes go by since they started building the place.
ParticipantI’m wondering what effect rentals by the developer and flippers are going to have on the owner occupied units. My understanding is that many lenders are leery of condo complexes with less than 60% owner occupacy.
On top of that, teatrim mentioned that the complex is 70% sold out. So, if the developer winds up having to keep about 30% of the units for rentals, it seems like they will be swinging the big stick in the homeowner’s association. Might make it difficult to do anything…or on the flip side, individual owners may wind up paying for improvements they may not want just so the developer can more easily sell its remaining units.
ParticipantThis is a really odd article. She starts off talking about her friends buying a house in 2002. You know, the good ol’ days when property values had nowhere to go but up…and up…and up. She ends it telling us that her friend from Delaware is a native Californian at heart, and how much she loves her house and the $200K in equity they’ve made in four years.
In the middle of the article, she drops this little tidbit about taking sellers’ feelings into account, so you shouldn’t offend their sensitive feelings by lowballing them. And, oh by the way, short sales are on the rise. As near as I can tell, this has nothing to do with her friends, because they bought the house, they love the house, they love the equity, and they are apparently not planning to sell it. Why then this waring to the reader of this article not to lowball?
At any rate, if this realtor really liked her friends, she’d advise them to sell their house right now and put the $200K equity in CD’s. A year from now, they may well be upside down and kicking themselves for blowing money they’ll never get back on hardwood floors.
ParticipantI agree that presentation is important. But, not to the extent that the stagers are trying to claim in the article.I seriously doubt a staged house will sell for 20% more, nevermnind 40%, than the same house unstaged, which is what the stager in the article seems to imply.
ParticipantA few statements in the article jumped out at me:
“The minute we finish the staging, the houses sell,” Istratoff said. “It works for the whole spectrum, from starter homes to high-end – I ask for staging with about three-quarters of the homes I sell, because getting the home in a condition where it will appeal to buyers is a vital service.”
The very minute the staging is finished, the offers come pouring in? Ummmmm, okey-dokey, if you say so. Mr. Istratoff.
Now, we hear from the stager…stagist?
“You can get a 20 percent to 40 percent higher price because you appeal to a specific person,” Kopec said. “I usually earn $500 to $1,000, and it’s a pittance compared to how much more money a seller can make.”
So, $500K house will sell for $600,000, maybe even $700,000 because she moved the couch? Boy, that thousand buck fee really is a pittance. I’m gonna go buy a few houses, stage the hell out of ’em, and make me some serious money. 40% profits looking good to me.
ParticipantThe average purchase price for the county was down $15,000 last month. You NEVER see that high of a fluctuation value anywhere else in the country unless it’s the start of a recession. What this translate to is that even a motivated seller (as long as they are informed and understand the market) is much more willing to hang on to their property for several more months because when the buyer’s market does turn (as it always has) they can sell for much more than a panicked seller.
I’m thinking that a motivated seller who is both informed and understands the market is going to take the first possible opportunity to get the heck out of his house. I can’t believe that this hypothetical person is going to believe that the “buyer’s market” is only going to last a few months. Rather, I think they’ll be asking themselves the musical question “If average values drop $15K in one month, how much will they drop in four months? If spring and summer are traditionally the time for folks to buy, how many buyers are going to be there in the fall? If the inventory was 8,000 last year, and it’s 22,000 now, how many homes will be for sale in September.” Okay, that’s more than one musical question, but the tune ought to be familiar to anyone needing to sell a house right now. I’ve got a feeling that their chorus is going to be “Motivated Seller, Looking at all offers, Sell Now!”
ParticipantThanks for the suggestion about Qualcomm. I just took a look at their web site and found 658 openings. On a quick perusal of the list, they all looked to be technical and managerial openings, which presumably would be all higher paying then clerical. I didn’t see any clerical positions at all. Does Qualcomm not post those openings, are are there just not any? If powayseller’s friend was surprised at the number of openings, is this just a way to garner resumes in case jobs become open?
Now that you mention it, powayseller, I’ve noticed more than the usual number of help wanted signs in retail businesses also. I wonder if business owners are doing that in lieu of advertising. A help wanted sign costs a couple of bucks and can be reused. An ad in the Union-Trib can be a couple hundred bucks, I think. At any rate, retail jobs aren’t the ones that will allow the worked to buy so much as a small studio apartment converted to a….ahem….cough, cough…condo.
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