[NotCranky]

See what happens when you are looking in good areas? 25% aint sh!t to what I’m seeing in IE. All day long baby 🙂

A friend of mine just bid 185K on house that was around 500k at peak in Indio. The renter across the street wants a lease because his house is going back to the bank. The thing is, my friend half hopes he doesn’t get it because he is looking at a duplex in bakersfield that is equally distressed. I am not up on Indio so I don’t know what the possibilities are.

[NotCranky]

“At its core, sales is a contact sport”. For asecond their bugs and especially in the context of this thread, I took your meaning of RE sales as a “contact sport” literally! Seriously though, I can tell you JWM, anyone who has the nerve to go door to door will not get their feelings hurt by you. If you get agressive they will blow you off as a lunatic.

I absolutely agree with Raybyrnes that sales people should not bother their friends. Business will come from contacts but not through annoying insistence that it does. Besides my friends are just as crazy as anyone else when it comes to RE deals and are not the kind of clients I would automatically want.Some separation is often a good thing.

I hate it when agents pretend to be “True” friends with people. I once was doing a transaction and the realtor on the other side snickered and said . “This is easy these old geezers are lonely and think I am like their son or something.”

What I don’t care for with regards to the candy bar sales kids is that they say…”would you buy this candy bar to help me stay off drugs or so that I won’t come back and rob you” Whoever runs those groups of kids should be ashamed of the aggressive pan handling that is actually transpiring.

[NotCranky]

Here you go james…I am saving a ton by leaving the kids pool half full. Rabbits get in but they can’t get out! I don’t even have to kill them because by the time I find them it’s too late, they have drowned. I feel especially vindicated when I eat them because they have been tearing up the garden! Nobody has to see me going into a 99 cent store either. Between the rabbits and the rattlesnakes we got way too much protein up here in these hills.By the way we got an open door policy for supper ya’ll come around sometime soon.Might slip ya a gopher.Man do we got gophers!

[NotCranky]

I know a couple in which the wife is going blind. The only way she could get benefits was to divorice which is what they did. Divorice or give your assets to charity or go BK so you can qualify for health care and early entitlements when you go blind. Lots of good choices.

[NotCranky]

They will probably buy up all Nick Inzunza’s slumlord units at “market price” as a concession for the fact that National City doesn’t have a NFL team.

Where is Drunkle when you need him anyway? Sometimes I think we are the only ones that understand eachother.LOL

[NotCranky]

Here is my plan. I divorice my wife and sell my house to her for 750k . I buy a couple cheaper rentals and my wife walks from the purchase money debt but I “lease” the house before she does. However, I am a “dead beat” so I don’t pay her.I buy my depreciated house (which I know is well built and has been taken care of by the best of tenants) from the bank . I re-marry my wife. Moral Hazard? Hey apparently it’s a “free for all”. Why should I be the nice guy?

Plan “B” I learn spanish and build muscles and endurance at the gym in preparation for a life of labor and so I know how to tell a un -documented Mexican I am taking his lawnmower away and that it is time for him to go home. El senado ha pasado una ley nueva…. adios!

Translation: The senate has passed a new law …goodbye!

Disclaimer. No soy racista. Es chiste nada mas.

[NotCranky]

No discount to the banks …someone in the food chain takes a heavy loss on a purchase like your’s.Just make sure you are not next.

[NotCranky]

What does that have to do with the gov. bailing out lenders?

[NotCranky]

I think they panicked at least 10 years ago.

[NotCranky]

Seems to me that for many their addictive personality was a set up for a shaky grab at the status and wealth possibilities of home ownership or naive speculatiion for the same purposes.Just add easy access to credit. The failure could easily cause a relapse or intensification of the mal- adaptive substance consumption habits.

[NotCranky]

Thanks to sdr and SD R for your comments.

Pt. Loma question… this listing:

http://www.sdlookup.com/MLS-076061833-3327_Lucinda_St_San_Diego_CA_92106

Bought for 1.4 million recently, plans drawn up for a new house but the old shack still stands (one bdrm, two bath). Now on sale for 1.9 million. Is this realistic? Is it worth another $500K because an architect drew up plans

This sold for a little over million 3 months before the 1.4m sale. I don’t think the architects usually make the price go up much beyond the value of any significant engineering to the land .The costal review progress is worth something and maybe those plans have to be used or the process would have to be started over.So the plans and the review progress are worth something but I don’t know how much but I have no idea what nothing like 600K or 1M. Maybe someone else knows? So the property list price is almost double from a sale last August.By the sirname the earlier sale looks like it might have been by one of the old time Portuguese, They are established there from the old tuna fishery days.I don’t know how many families are still there. The current owner is some kind of business entity.The view is marvelous.

[NotCranky]

sdr, If you feel like answering…How does a name brand office take it when associates back off on their commitment to the business? How is the brokerage doing?

Today I bought a bunch of office furniture from now defunct office. Really nice guy too…He wondered why an agent would be buying office stuff now. I didn’t say so,but it’s because it is cheap.(and I need it). Contrary to what you and I believe about anybody in the business being able to see it, he says he didn’t see the bust coming. He definitely wasn’t prepared.

[NotCranky]

I used to tell people on the fence that sometimes the best time to buy is when you can, as long as you have a safety net. Then things got really stupid and I said it is crazy to buy a house.In your case and market TemeculaGuy I might actually go back to the old standard. In anycase, your risk isn’t that great either way and as I said I wouldn’t get too upset about it.If increased rates are coming prices should go down proportionally.Given all the other downward factors, at the very least, you get the same house at the same payment(and better tax bill), not a lesser house. The only thing that concerns me with your location is that prices have been slammed pretty good already. It seems retirees from cold or hot, meteorlogically speaking, non-bubble areas,or even bubble areas,or from an inner city shack to a nice house there, would begin to see Temecula as a good trade if it goes down any further. I sure would in that situation.In that case though, you will be the first to know if that starts to happen in mass. Not that you asked for my assurances, but you are fine.

[NotCranky]

“…would you really get your advice from a blog?” I really did say that is jest. That has kind of got thrown out there from time to time. It is definately is not a slight on the blog or against the different strengths people bring here.This place is great.

Clearly, I am a novice on the deeper fiancial meanings and admit I probably will not get all of it. I don’t really need to, but on the other hand the timing is good to absorb what the grey matter will allow.

Cheers

[NotCranky]

The key is the wages and holding a job in that environment. That is the problem with HI scenario.

Thanks for your input JWM.

The risk is their but slightly offset by the fact that I create my own job since I would coordinate the lot split, do the drawing and contracting of any project. I even drive the heavy equiptment(rented).It’s not different here but I have some tricks up my sleeve too.The real issue is carrying costs and the end game which could of course occur during a deflationary shitstorm. Obviously I think it is worth considering.

If I had a little more cash going into it i would be all over it. Hipmatt?

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