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PerryChase
ParticipantI agree with you 4plexowner. As an owner, I would decline to provide my personal info as well.
However, I believe that life is a 2-way street. Whether you’re a tenant or an employee, don’t let the landlord or employer hold all the cards. Put yourself in a position to negotiate so you don’t get steam-rolled.
I believe in fairness and a contract that is all one-sided is not a “real” contract in my book.
As a prospective tenant, if you ask nicely and appropriately, you probably will get the assurance that you need.
ParticipantThis looks like a 1993 owner in La Jolla that just got foreclosed on. What did they do with the MEW? Invest in Real Estate?
2838 CAMINITO TURNBERRY, La Jolla, CA 92037**
List Price: $959,900 – $959,900Sales History
Date Price
01/29/2007 $760,000 Foreclosure Transaction?
10/15/1993 $402,800
07/07/1988 $366,000
06/06/1986 $330,000Bedrooms: 3
Full Baths: 2
Partial Baths: 0
Square Feet: 2,063
Lot Size: N/A
Year Built: 1979
Listing Date: 02/20/07
On Market: 1 day
Type: SFR
Status: ACTIVE
MLS #: 076014358Description
Bank-owned foreclosure!***see cfr for required items!*** you’ll love this sunny detached culdesac home in gated windemere! It offers soaring cathedral ceilings, grassy yard, handsome remod kitch, spacious mbr, bay window, cozy wood/gas fpl, roman tub in mba. See supplement!http://www.zillow.com/HomeDetails.htm?o=North&testAds=false&zprop=16852672
http://www.sdlookup.com/PropertyDetails/tabid/53/forumid/1/view/topics/pid/3042FD7F/Default.aspx
http://www.ziprealty.com/buy_a_home/logged_in/search/home_detail.jsp?listing_num=076014358&mls=mls_sandiego&cKey=qvc4k50h&source=SANDICOR&home_id=28765877&addedHome=true&cKey=fgmnq3m9ParticipantThe savings rate is the net of income less consumption. If you consume less than you earn and put the difference in investments, that counts as savings. However the appreciation of your investments is not counted as savings.
Think of it as Income Statement (P&L) vs. Balance Sheet. Savings is Net Income/Loss.
ParticipantIf we go through an rental agency or agent is there some sort of disclosure of that information that is required
If you use an agency, you can ask them to verify that info for you. If they don't then you don't have to sign the rental agreement, and they don't get the commission. You sound like a great tenant and financially stable landlords would be happy to have you. Finding good tenants is just as hard (or more so) than finding a good house to rent. Even, if you rent directly from a landlord, you can ask them about their loan/equity situation. If they run a credit check on you, you could just as easily run a credit check on them. All they can do is say no.
ParticipantI would negotiate a lower purchase price (in a down market you can, especially if you're a willing and able buyer). I don't really care how the agents work it out. That will immediately lower my property taxes and pay me back a little bit every year for as long as I own the house. If there was a way to work it out, I'd be willing "rebate" money to the seller and pay all closing costs just to get a lower property tax basis.
You can easy calculate the "rebate" that you want and lower the purchase price accordingly. Be ready to walk if the parties can't come to an agreement.
I think that each buyer is different. Some buyers like to be presented lists of houses to visit and have someone walk them through the purchase process. Other buyers know that they want and are capable of finding their own house. I fall in the latter category. When shopping at the mall, I'm very irritated when the salesperson wants to help me or makes suggestions. I just need someone to find my size when it's not on the rack.
Sad to say but most people would rather have the extra service because that makes them feel good, although they have to give up something else for that service.
The main problem with negotiating with agents is that most buyers rely on the agents who work in conjunction with loan, title and escrow officers to "get them into" a house. They are ignorant of the process and can't afford to push for a better deal, lest they "loose" the house they want.
I like the way exeunt put it: I would rather pay for a boat in MY driveway rather than the boat in HER (the agents) driveway, wouldn't you?
Since I'm very familiar with RE transactions, I would have no problem going with a discount brokerage such as Zip Realty for a purchase I have already identified. If I needed hand-holding or suggestions on where and what to buy, I would use a full service broker (who charges discount commissions) such as SD Realtor. I think that SD Realtor has a good business model for the future — kinda like the Southwest Airlines of Real estate; you get everything for a lower price. Well, you get peanuts for lunch on Southwest, but you wouldn't eat the food on American anyway.
Participantthe defendants promised to invest the remaining 10 to 25 percent of it in low-risk, high-return investments.
Is there anything as low-risk, high return??!
The couple, Vicente Rodriguez and Kim Kelso, allege that they lost 12 houses in a similar way,
If they were so greedy and bought 12 houses under this scam, they really deserve to loose everything.
February 21, 2007 at 4:02 PM in reply to: California Coastal Housing Market Will Not Collapse #45958ParticipantWhere is Santucky? Santee?
ParticipantI also agree that the retirement of the baby-boom generation will bring unforseen changes. The housing market may be depressed for 2 decades.
Participantcow_tipping, you got nothin’ to worry about. Your mortgage payments are what? $800/mo? And that has you worried sick?
Indeed, you’ll be able to laugh at the stupid Californians going into foreclosure because of $5000/mo payments.
February 21, 2007 at 2:12 PM in reply to: California Coastal Housing Market Will Not Collapse #45934ParticipantThere are enough cash millionaires around the world to keep prices up, though I'm sure there is going to be some drop.
No, there aren’t enough cash millionaires. Cash millionaires buy, hold and sell over decades. Cash millionaires already have homes. The leveraged-millionaires are the ones buying, selling and climbing the ladder. I was around the in 1990s and I saw how La Jolla and Del Mar prices dropped.
Like the English say, the difference between old families and new families is whether you inherit or you buy your furniture.
Participant150K for a 2723sf house. Cow_tipping, you live in North Carolina or is it (South?). So the most you could loose is $50k? Yo can ride out the market. But people in SoCal will loose much more than that. They’ll be scheduling appointments with bankruptcy attorneys.
ParticipantSusan Bies, a Fed governor, also mentioned the excess of homes in her speech at Duke.
See related thread:
http://piggington.com/bloomberg_video_on_armsParticipantThe bubble will take some time to deflate.
Susan Bies of the Federal Reserve said that the Fed doesn’t want to hamstring “innovation” in the financial sector. That means that the financial services company will continue to come up with new products that expand the debt market and give credit to consumers/buyers who heretofore did not have access to credit.
Since we won’t see a cut-off of credit anytime soon, consumer confidence will hold and we’ll see the housing market slowly deflate over years. I believe it’s psychologically healthier to have a slow protracted downturn. Economically, we’re much better off to cut out losses and move-on.
February 21, 2007 at 9:24 AM in reply to: Realtor Buddy wants to list my home at an inflated price to meet potential clients #45890ParticipantSounds like your buddy has no listings right now. Yes, it would help him out because he could point to your listing as an example of how he’s able to “help” buyers and sellers.
I think it’s unethical and reflects badly on Realtors. It’s almost like lying on your resume.
If I were to sell my house, I’d investigate the work history of my Realtor to make sure that he’s not bull-shitting me. A Realtor that shows me a house at a pie-in-the-sky price would loose my business and any future referrals immediately.
In the short term you might do your friend a favor, but in the long term you’d be doing him a disservice by participating in that sham listing.
You might even do yourself a disservice because your house would then have a history of listings and non-sales.
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