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December 10, 2006 at 7:15 AM in reply to: How can someone get loans on multiple houses at once? #41416ocrenterParticipant
what’s wrong with that?
–you get nice green cash money, you win!
–you increase the amount of tax deductions, you win again!
–you spend more money, retailers win!
–the retailers increase profit margin, the stock holders win!
–the mortgage broker gets a fat commission and fee, the broker wins!
–escrow, title, and appraisers all get more work, they all win!
–the mortgage broker buys more, so does the escrow officer, and the appraiser, the retail sector wins again!
–when the retail sector wins, transportation sector, importers, and manufactoring all win!
–in other word, everybody wins!so go out there and refi for some christmas cash!
(above written with a bottle of sarcasm)
ocrenterParticipantthe plan is for a new kaiser hospital to be build at their San Marcos urgent care/clinic site, possibly starting in 2010.
pathologists don’t do procedures, you’re referring to a interventional radiologist? an appendectomy would have to be performed by a surgeon, but then you should be under general anesthesia. well, just glad you’re doing well.
ocrenterParticipantkeep in mind too the kaiser SD medical center is named as one of the top 50 hospitals in the US.
ocrenterParticipantbut kaiser also use Palomar. anyhow, Palomar is building a brand new hospital slated for opening 2010. you may want to get on board prior to that.
ocrenterParticipantwell, let’s open it up here. what do most of you, I esp want to know from sdrealtor, SD realtor, sdappraiser, and bugs, whether it is right or legal to post the whole address/MLS #.
ocrenterParticipantJim is an excellent resource and with great integrity. I would use him as a realtor if Carlsbad is within my reach without a doubt.
I do think the 10% was too little. We’re already seeing 15% drops in same-home comparisons.
Maybe I’m tinted too, but I’m just seeing so much fraud and loans gone sour and to think this is just starting out. the 4Closure Ranch properties I featured alone were around $5-6 million dollar in value.
My latest post on my blog features 4 homes all bought in 2005 for $2 million now on sale. Can you imagine folks out there are trying to flip $2 million dollar homes? And do you know how easy it was to find these? I picked 92130 on realtytrac.com, I went to the first home listed. Then I pasted the street name on ziprealty, and boom, 3 $2 million dollar flips on the same street! Then I realized the development only consists of 16 homes with 2 streets, and found the other flip on the other street. That’s $8 million dollar of mortgage going into default if someone don’t buy these homes. How many folks are walking around with $2 million these days?
My point is this: you take my post on the $2 million dollar flips and my 4Closure Ranch posts and there’s $14 million dollar either in default or will be soon. am I working 24/7 to dig these out? No. I do these before I go to work in the morning or half an hour before bed. I think the amount of fraud and foreclosures is going to surprise everyone, including Jim. And I don’t blame him. None of us have ever seen the type of loose credit and loan give away that’s occured in the last 5 years. So no one can predict for sure how this is going to end.
ocrenterParticipantI have been to Del Sur a few times and have been tracking Carmel Valley. Please please read the latest postings on my blog on this same subject. DO NOT BUY!!! Things are in freefall right now.
ocrenterParticipantone realtor that was trying to get us to list with her told us she has buyers lined up for our property already. we walked away because she has been selling the same model on the other side of the complex for 2 months. where’s the eager buyers she had all lined up?
ocrenterParticipantsaiine,
does she know what is going on with other builders in/around SEH?1. Venzano, 3,000 sqft model from $720,000 down to $670,000 in 3 months. that’s a $50,000 loss to the guy that bought earlier this year.
2. luminara, 2,500 sqft home from $720,000 in July to $620,000 in Sept. Granted these guys overpriced in July. but that’s $100,000 shaved off in 2 months.
and these are single family homes that are suppose to hold up value better than attached homes. who cares about $3000 in deposit money when you are faced with possibly purchasing a property and losing $100,000 within a few short months.
ocrenterParticipantsocalreloc, are you sure you want to spend $200,000 over someone else for the same exact model and therefore pay property tax on that extra $200,000 every year for the rest of the years you own that home?
ocrenterParticipantprecurser, just to let you know, you are in fine company. folks with annual income of over $200,000 are also renting and waiting. yet there are still quite a few folks making $30,000 getting into homes after looking at super-low monthly payments based on 1% teaser rate that expires 6 months later. follow the smart money and wait!
ocrenterParticipantjes, I should qualify my count by saying the profession me and my colleagues are in allow us to move anywhere we want, we are not tied to say, Silicon Valley for tech or OC for finance.
therefore, it is very reasonable to move away from locations where condo living are all we can afford. that’s the driving force which prompted the move away from OC/LA.
that said, I truly believe the credit bubble will be this market’s undoing, nothing else. in this line of work we interact with a lot of working class and minimally skilled folks, and these guys ALL bought homes these last few years, without exception. I also get exposed to a lot of ‘chatters’ and they range from ‘we can’t pay our mortgage’ to ‘we are panicking because we have two mortgages now because we can’t sell the old home’.
there are a lot of otherwise hard working folks with steady income that got greedy because of what was going on with real estate this last few years. instead of the steady middle class life they were in, they saw how they could all become mini-Trumps. a lot of lives will be ruined, I can already see it happening. The desperation is in the air.
ocrenterParticipantin every sales office in the model homes there’s a plaque on the wall notifying potential buyers that Bressie is in an aircraft noise zone. last time I went, they got a “house of the week” advert placed right in front of the plaque. very interesting.
ocrenterParticipantIn 14
Out 0we just moved from OC, after my friend moved his family in from LA. two of my colleagues just moved from the Bay Area and DC to here. Counting all the kids, that’s 14. We are all high paying professionals. All renting, all waiting for the crash.
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