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outtamojo
Participant[quote=flu]Wow…piggington is sure turning into a pissing match…[/quote]
A housing related pissing match is a beautful thing…
Participant[quote=sdrealtor]If you haven’t bid on, won and closed on a house in the last 30 to 60 days you are operating on yesterday’s news. It was what it was. It ain’t anymore. It is what it is.
How is that for a gaggle of cliches?[/quote]
Not in MM, but none of my second position short sale offers are hitting. There is one all cash offer sitting in first position that’s been contingent 57 days now – I thought all cash offers were flighty?
June 1, 2012 at 11:14 AM in reply to: How are people dumber than us going to make out with their 401(k)s? #744755Participant[quote=flu][quote=bearishgurl][quote=harvey]. . . But please – just for entertainment value – do tell us how we are supposed to save for the long-term without using the investment markets.[/quote]
A suggestion was made earlier here (AN?) to do “CD laddering.” That’s one way. Another way is rental houses. I’m not talking about highly-encumbered ones (HOA/MR). I’m talking about buying a fixer-upper, spending 30-60 days in your off hours to clean it up and then leasing it. Got $150K?? There are plenty of places in SD County where one could buy a house which, after fixed up a little ($5-8K + elbow grease), one can make a steady $1300 – $1600 mo off $160K ($150K purch + closing costs + fix-up $$). Know anywhere else you can do this??
Afraid of getting off the fwy and looking around? Bone up on your “people skills” a bit, pri ;=]
It’s doable.
I wouldn’t have thought so just a year ago.[/quote]
Confused here…
A few weeks ago when were talking about Mira Mesa, I recall you were telling folks how horrible idea was to be buying rental property in Mira Mesa or investing in Mira Mesa at this point because prices were so high.
But now you’re suggesting folks pick up rental property, right now… when inventory is close to 0, when multiple people are bidding on rental properties and pushing the cash flow-ability(I know not such a word) up and up?
Or suggesting a CD ladder right now, at a time when interest rates are at a historic low, for which people are going to be locked in for some time….
I don’t get this….
I think there is one fundamental point that’s not being grasped here.
No risk = shitty returns…[/quote]
For us contrarians that would be “no PERCEIVED risk = shitty returns.
Participant[quote=squat250]I have never had visible abdominal muscles but I will by the end of this year. I blame junk food.[/quote]
Yeah, I’ve been exercising about an hour a day for the last 8 months and now I’ve got these hard boney things on my side- what are they called again?
ParticipantWhy is Starbucks, my favorite whipping boy for over-consumption/profligate personal spending not a target in the fight against obesity?
http://www.healthhabits.ca/2011/01/18/starbucks-trenta-breakthrough-human-obesity/
Participant[quote=blake]Bloomberg’s Attack On Big Soda Lacks One Thing: Scientific Evidence[/quote]
Yay – the buck fifty Costco all beef hot dog and soda with FREE refills is a staple of my diet.
Participant[quote=ocrenter]1000 people for 113 homes?
are the lines and camp outs back?!!![/quote]
Back to flipping new home contracts?
Participant[quote=Mayze]Posted this afternoon already contingent:
http://www.sdlookup.com/MLS-120026258-16052_Cayenne_Ridge_Rd_San_Diego_CA_92127
How do you get to be the buyer of one of these specials?[/quote]
You don’t, and apparently it’s all legal and Kosher
as long as the the seller, no make that the FB, allows listing agent to keep listing in his/her pocket.Participant[quote=LAAFTERHOURS]SEH = Low inventory and a new school breaking ground near UCSM that has rumors swirling that people east of questhaven and north of SEH road will be driving their kids to a new school. People living in mariners landing area are selling and moving down the hill.[/quote]
What grade level is that new school? Sad that some of the Kinders already get set off to La Costa Meadows.
Edit: never mind, found it’s a K-8. Still sucks how the width of 1 street would make such a difference tho.
ParticipantOK, its way to early to be able to prove any wrongdoing by the agent, but to an outsider this kind of stuff looks very very bad.
Participant[quote=SK in CV][quote=enron_by_the_sea]
The joke is that FB will have to do a second IPO now because all the float in the market is now again owned by the underwriter, Morgan Stanley.
http://www.reuters.com/article/2012/05/19/facebook-morgan-stanley-idUSL1E8GIER020120519[/quote]
That makes no sense at all. Even if Morgan Stanley does own all the float (which, if true, means they own all non-restricted shares), an absurd claim on its face, FB still got the proceeds of this IPO that they bargained for. (I think somewhere around $7 billion, less costs.) Why would they have to do a new offering?[/quote]
Yes, FB did get their money, and if they are profitable they may never need to go the market again.
If the underwiters did have to eat a lot of shares, and it did look that way as the price slid toward 38, you’ve got a built in overhang on the stock price that must be worked through in the short term.ParticipantGiven the market conditions at SEH and the “right now” premium for folks trying to close before school starts I would say that condo would go for something like $300-315K if it were allowed to be listed properly. Will have to see where it closes but don’t the banks require short sales to be marketed to obtain best price now? Imo justice would be served if the bank rejected whatever offer that was profferred and sent themback to the drawing board.
ParticipantMaybe do this in poll form…
Participant[quote=Jazzman][quote=sdrealtor]Now you beleive RE agents when they are saying what you want to beleive. They arent withholding bank owned properties. Its easy for me to search the tax records to show they dont own them. What they are doing is slowly working through the distress and not foreclosing. You are listening to a few hungry realtors who are as clueless now as they were before.[/quote]
What I want to believe? Why should I believe you anymore than them? You are also broker. Yes? Why should I care, I left CA and bought elsewhere? I do, however, abhor dishonesty.What’s more important, is I hardly think RealtyTrac would make such a statement if there weren’t some truth to it. If there is price fixing going on, it can be prosecuted under federal law.[/quote]
Sooner or later those banks will be forced to unload their inventory and coming tsunami sounds pretty frightening – I better buy a subscription to RealtyTrac so I can find out what’s happening in my neigbohood.
All kidding aside, I find it distressing that RDN and MTG have sold off to near 52 week lows again. -
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