[PerryChase]

I concur with Bugs — let the work speak for itself. If people disagree with your opinions, let them be.

Rich is focusing on the big picture. Powayseller pursues every single lead that prove her points. She is a fundamentalist/evangelical splinter of the bubble blogosphere. She won’t relent until everyone is converted to her side.

One may not like powayseller’s opinions but she does have a right to free speech. She has the right to write to the VOSD editor to express her opinions. He can choose to print her writing or not. I fail to see what the big deal is.

[PerryChase]

Looks like LA and SD are loosing domestic population.
I don’t think that immigrants will be buying homes immediately. They have to save up for a few years first.

http://www.latimes.com/news/local/la-migration041807-f,0,7918254.flash?coll=la-home-headlines

http://www.latimes.com/news/local/la-me-maricopa24apr24,0,6596176.story?coll=la-home-headlines

[PerryChase]

I never knew Chula Vista until I drove through to go to the Otay Ranch Town Center a couple of months ago. To be fair to Chula Vista (the eastern part near Eastlake and Otay Ranch), the development is exactly the same as Carmel Valley, in my view. I don’t see any physical difference. Granted, the school district and ethnic makeup might be different.

Not counting whites, are Chinese/Asians and Indians from India neighbors better or worse than Hispanic neighbors? Are the whites in Chula Vista any different than the whites in Carmel Valley? Assuming the houses are priced about the same, wouldn’t they belong to about the same social class? Or perhaps the upbringing they come from is different?

[PerryChase]

asianautica, I have a feeling that rates have nowhere to go but up (after a Fed’s failed attempt to rescue the market). There are too many structural problems that we need to fix in our economy. Easy money is not the way to go.

Remember that subprime borrowers are already paying anywhere from 8% – 12% on their firsts and seconds.

[PerryChase]

I’m wondering how servicers can restructure a mortgage. There would have to be some kind of addendum to the note signed by both the borrower and lender. You can’t just verbally tell the borrower to keep on making the lower payments.

I also wonder how Realtors negotiate short sales. Do they just market the property then when they get an offer present it to the lender almost as a fait-accompli?

For you guys who have had done short sales, what is the process of getting one approved? I’m thinking that if short sales were easy to get approved, then everyone who is underwater would want one.

[PerryChase]

Just speculating here. I wonder if suicide-by-cop would entitle the heirs to life insurance payout. Obviously, suicide-by-self would not allow the heirs to collect.

This sounds like a good made-for-tv movie script.

[PerryChase]

I like to look at listings on SDlookup although you can’t save them.

Interesting to see nearby homes with exactly same square footage.

http://www.sdlookup.com/MLS-076008768-10550_Kemerton_Rd_San_Diego_CA_92126

http://www.sdlookup.com/MLS-076009303-10650_Granby_Way_San_Diego_CA_92126

[PerryChase]

with address you can get name of owner.

https://sdtretax.com/ebpp3/start.aspx

[PerryChase]

Of course, as Larry J, mentioned, the lenders haven’t yet geared up for foreclosures. The problems with houses is that each case is individual, but lenders need to have consistent loss mitigation policies that apply across the board. They also need fraud prevention/audit systems to avoid fraud by employees, sellers, Realtors, etc…

[PerryChase]

isn’t it “I am a real estate home owner”?

[PerryChase]

Chris sounds like the type of person whose net worth affords him to take a 30% loss on his house; or keep and enjoy the house long enough for the market to come back.

Most people who buy middle to upper middle class houses put everything they have in their homes. Those people won’t easily weather a 30% downturn.

Personally, I’d rather not take a loss on my house and spend that money on my own personal enjoyment (vacations, etc..), save it, or give it to charity. Why give it to the previous seller? To me, part of the enjoyment of a home is feeling confident I got a great deal.

For example, when you go to foreign countries where bargaining is common place, you might feel “ripped-off” if a vendor sells you some jewelry for 5 times the local price. It’s not a big deal because as a rich American, the cost is still less than what you’d pay at the mall at home. You can very well afford it but knowing you were “ripped-off” still takes away from your enjoyment. It’s just human nature to want a fair, if not great, deal.

How do you feel if you buy a plane ticket for $1,500 and your seat mate only paid $500? It’s all a question of timing (suppose it’s your own money and not the corporation’s money).

[PerryChase]

More titillating news.
I wonder what kind of financial troubles there were in. Real Estate must not have been that great.

http://www.latimes.com/news/local/la-me-montage24apr24,0,3195165.story?coll=la-home-headlines

[PerryChase]

Many folks in Del Mar and other non-master planned coastal communities have buddies who are contractors. They build un-permitted additions all the time. It’s a not problem so long as it’s disclosed and the buyer is OK with that. The lender, however, may not take that extra space into account for loan purposes.

[PerryChase]

Sounds to me like it should be.

If short sales were readily approved, then everyone would want one. Knowing that Realtors are the weasel types (not the ones on Piggington), and that fraud was rampant and on the increase, sellers and their agents could engineer all kinds of sales to relatives and associates, for profit, at the expense of the lender.

Lender should not approve short sales until homeowners have exhausted financial means such as savings, 401k, etc..

[PerryChase]

I see 19,777 listings on ziprealty. I don’t have MLS access. I was wondering that the difference is? Does anyone know?

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