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PerryChase
Participantpowayseller, good story of what’s happening on the street. Your zip realty link only works for you (it took me to my saved houses on ziprealty). If you give use the MLS #s, we can look them up ourselves.
BTW, just for kicks I looked-up what you can rent for $2,500 – $3,000 per month. The money goes kinda far. No need to buy in my view. I have a friend who pays $3,000 in mortgage for a lousy townhouse in East San Diego. I’m not sure what she was smoking when she bought earlier this year! She never shared her purchase plans with me and by the time I heard about it, it was too late to warn her.
Participant*Gasp* a Subaru?! That’s for a North-Eastern or North-Western progressive outdoorsmen. You should be driving a F150 extended cab and living in Santee.
You sound like my cousin’s husband, jg. He’s a hardcore conservative but because of where he lives, his kids all turned out to be progressives. Better move to Santee or Fallbrook before it’s too late. (all said in good fun and humor)
October 24, 2006 at 12:02 PM in reply to: 2 million foreclosures predicted in the coming months #38367Participantpowayseller, nice to see you back with hard hitting news. 🙂
Wow, I need to think about this one a little more.
ParticipantThe deal’s not done until it’s done. Let us know when you close escrow. I’m sure that it’s stressful selling your house in this market.
ParticipantThat kind of scheme is becoming more prevalent. Sellers gets to unload the house and buyer pockets $200k and lets the house go into foreclosure. The bank is left holding the bag. Sometimes buyer and seller are in cahoots and split the money.
In a downturn, you’ll see desperate sellers turn to desperate means.
ParticipantThanks for the link, JES.
I like Utah a lot. I love to go ski in Utah because the people are so nice and friendly there.
I noticed that California is more Roman Catholic. Could it be because of the Hispanic population? I was raised a Roman Catholic and what I love the most are the music and the rituals.
ParticipantThe sales pitch is why rent you can buy an investment. Real estate always go up. So in the future, you can always rent out your investment and save for retirement.
What’s left out of the sales pitch is that after the loan resets, your payments will double. Or that your payments are low but you’re adding on to your loan balance every month.
ParticipantI like Christians. I dislike the evangelizing. I don’t tell people to not beleive in God and I would appreciate it if the evangelicals would stop knocking on my door. Once I told the Jehovah’s Witnesses that I didn’t speak English so they sent someone who spoke French. They even have printed materials in French. I was impressed!
Yes, I speak French as well-educated people should. 🙂 That’s why Neil Bush’s ex-wife and daughters live in Paris — to learn French (In case this does not convey well in written form, I’m saying this with good fun and humor).
ParticipantPsychology is a big factor in real estate. It’s also a big factor in marketing. Fox is about getting people riled-up by blaming others (but never the viewers) for the perceived ills of society. Therefore you’ll never hear Fox put the blame squarely on the people who mismanaged their lives and took on those suicide loans.
For you guys on the right, don’t think that Fox is doing you a favor. Rupert Murdock is using you to make money and laughing all the way to the bank. Why do you think that Murdock in fund raising for Hillary Clinton? He needs wedge politics to keep his flock tuned-in. Single issue viewers are the easier to create programming for because you know exactly that they want to hear. Fox built its networks in the 1990s fanning the flames of the Right’s anger against Clinton. Now that Clinton is gone, viewership is declining. With another Clinton in the White House, Fox viewership is sure to skyrocket!
ParticipantWhat did you expect of Fox? They are not known for good analysis. Fox is about headlines and entertainment. Interest rates, foclosures, adjusting ARMs are too complex to fit their format.
ParticipantI think that the Internet and the information available today will speed the crash, not slow it down. People will now be able to compare houses and get the best deal just like they do for electronics or cars.
The only reason prices have escalated in the last few years is the expectation of gains. Once that expectation is gone, prices will drop like stones. Think of all the people holding houses as “investments.” They will unload once they realize that holding on will cost them thousands per month with no prospect to recoup the losses. How much does a house have to appreciate to justify $20,000+ per year in holding costs?
October 21, 2006 at 11:58 PM in reply to: Bressi Ranch…16 new homes to be auctioned off 10/21/06 #38197ParticipantSD Renter, what is the volume of short sales you’re seeing out there?
ParticipantRenting is not putting your life on hold. Consider that most buyers only live in their houses less than 5 years. That sounds like speculating with ownership to me.
The key is not owning or renting but affording a lifestyle that bring you pleasure and rewards. If you rent a nice house that’s affordable and invest the savings, then you’re building on your future.
What does it matter if the landlord owns the house or the bank owns the house? From the inhabitants’ perspective, it’s their net worth that counts.
The argument that not buying is “holding your breath” is not holding water to me.
Yeah, it’s the sellers who are “holding their breath” right now. 🙂
PS: I own a house but that’s only because I bought it many years ago. I would rent rather than buy today.
ParticipantI think it’s a question of financial management and prioritizing what you want in life. Different people value different things so that’s what makes life interesting.
People in San Diego bemoan not being able to afford a SFR on decent lot. New Yorkers want an apartment with a doorman.
To me, it’s a question of priority and making peace with what you can afford.
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