[Ricechex]

Thanks Bugs. I appreciate your boundaries in this matter. Just to let you know….this would not be an appraisal for a bank. It would only to be to establish a price, so I can make a buy out offer to the co-owner.

Any chance you could make a referral to a decent appraiser? The lady we had did not do a very good job, and I was suspect of her by her attitude and indifference. I hate to cold call on this one…..

[Ricechex]

Thanks Bugs. I appreciate your boundaries in this matter. Just to let you know….this would not be an appraisal for a bank. It would only to be to establish a price, so I can make a buy out offer to the co-owner.

Any chance you could make a referral to a decent appraiser? The lady we had did not do a very good job, and I was suspect of her by her attitude and indifference. I hate to cold call on this one…..

[Ricechex]

It is completely appropriate to capitalize Realtor. Any title can be capitalized—Investment Banker, Teacher, Social Worker, Box Office Manager, Engineer, Day Care Provider, Home Loan Specialist, Salesperson, etc….

[Ricechex]

It is completely appropriate to capitalize Realtor. Any title can be capitalized—Investment Banker, Teacher, Social Worker, Box Office Manager, Engineer, Day Care Provider, Home Loan Specialist, Salesperson, etc….

[Ricechex]

Well, if you are going to lose $200K either way, I say buy the property–because at least then you do own something tangible, even though property values are decreasing. If you think the property will decrease more than $200K, then pay the IRS.

[Ricechex]

Well, if you are going to lose $200K either way, I say buy the property–because at least then you do own something tangible, even though property values are decreasing. If you think the property will decrease more than $200K, then pay the IRS.

[Ricechex]

Odd. It also shows year built as 1918 on Redfin, and 1899 on sdlookup. And strange sales history:
Date Price Appreciation
02/24/1993 $85,000 -83.3%/yr
09/04/1992 $198,413 48.2%/yr
08/04/1989 $59,000 —

Now, I know prices dropped in the 90’s but $113K in 5 months? Something seems awfully odd about this one.

[Ricechex]

Odd. It also shows year built as 1918 on Redfin, and 1899 on sdlookup. And strange sales history:
Date Price Appreciation
02/24/1993 $85,000 -83.3%/yr
09/04/1992 $198,413 48.2%/yr
08/04/1989 $59,000 —

Now, I know prices dropped in the 90’s but $113K in 5 months? Something seems awfully odd about this one.

[Ricechex]

On the phoney offers….a friend of mine wanted to buy a house for $699K. She was concerned about the sale of her house, and if she could pull it off in today’s market. She made a full price offer, and had the inspection done. She was told that right after her offer, someone came in and made a full price cash offer. The agent told her how lucky she was to have put in her offer first. Red flag here. The inspection revealed some deficiencies, she was afraid her present house would not sell for the desired amount, so she decided to hold out, and withdrew her offer.

Well, wouldn’t ya know it….here comes the agent, tells her that the sellers will knock $40K off the price to fix the problems. She asked what happenned to the full price cash offer? Wow, making a full cash offer for a $699K house would suggest to me that someone REALLY wants it, especially since it was less than a week from the inspection to withdrawal of the offer. Seems pretty obvious that the agent was lying.

I really cannot stand the manipulations and scams. Who can you trust these days to be honest?

[Ricechex]

On the phoney offers….a friend of mine wanted to buy a house for $699K. She was concerned about the sale of her house, and if she could pull it off in today’s market. She made a full price offer, and had the inspection done. She was told that right after her offer, someone came in and made a full price cash offer. The agent told her how lucky she was to have put in her offer first. Red flag here. The inspection revealed some deficiencies, she was afraid her present house would not sell for the desired amount, so she decided to hold out, and withdrew her offer.

Well, wouldn’t ya know it….here comes the agent, tells her that the sellers will knock $40K off the price to fix the problems. She asked what happenned to the full price cash offer? Wow, making a full cash offer for a $699K house would suggest to me that someone REALLY wants it, especially since it was less than a week from the inspection to withdrawal of the offer. Seems pretty obvious that the agent was lying.

I really cannot stand the manipulations and scams. Who can you trust these days to be honest?

[Ricechex]

I have to agree with the above the posters. I think many of the sub prime borrowers were greedy and stupid, being played by media hype, predatory lending and all the other greedy players in this game.

Everyone cannot have everything they want. The subprime borrowers did not exercise much common sense….sheesh, did they think a windfall or inheritance was coming in 3 years when their ARM reset? They had to have known that their salary was not going to increase 10 fold.

A friend bought in 2001. Because he and his partner have excessive spending habits, they have re-financed 2-3X to pull money out to pay CC bills. He is sweating it because their latest ARM resets in March 08. He is now pulling out of his retirement, to pay off the CC. I do not feel sorry for him, but I do not cheer his potential downfall. I have watched him buy a $5000 bed. Next, a $3000 vacation. Next, a $5000 TV. Next, an Acura with a $650 monthly payment. Next, a new laptop, $1000. Another new computer, $2000. Top of the line cable and all stations. The house has 2 landlines and they each have cell phones. All this on a $65K salary. Yet, he calls me tacky and cheap because I drive a 95 car that is paid off, looks nice (bondo’ed and repainted just in Jan) and live in a house I can afford.

Now, I have had my problems….my CC was getting up there at one time. So, I worked 2 jobs to pay it off, and I did. Now, I live within my means. I would like to own a old Craftsman house near Morley Field, but I cannot afford it. It’s simple: Do NOT buy what you cannot afford.

Its the mentality of the buyer that is the problem. Looking to be the rich and famous, when you aren’t the rich and famous. It is called taking responsibility. The problem with this society is everyone blames everyone else for their problems.

[Ricechex]

I have to agree with the above the posters. I think many of the sub prime borrowers were greedy and stupid, being played by media hype, predatory lending and all the other greedy players in this game.

Everyone cannot have everything they want. The subprime borrowers did not exercise much common sense….sheesh, did they think a windfall or inheritance was coming in 3 years when their ARM reset? They had to have known that their salary was not going to increase 10 fold.

A friend bought in 2001. Because he and his partner have excessive spending habits, they have re-financed 2-3X to pull money out to pay CC bills. He is sweating it because their latest ARM resets in March 08. He is now pulling out of his retirement, to pay off the CC. I do not feel sorry for him, but I do not cheer his potential downfall. I have watched him buy a $5000 bed. Next, a $3000 vacation. Next, a $5000 TV. Next, an Acura with a $650 monthly payment. Next, a new laptop, $1000. Another new computer, $2000. Top of the line cable and all stations. The house has 2 landlines and they each have cell phones. All this on a $65K salary. Yet, he calls me tacky and cheap because I drive a 95 car that is paid off, looks nice (bondo’ed and repainted just in Jan) and live in a house I can afford.

Now, I have had my problems….my CC was getting up there at one time. So, I worked 2 jobs to pay it off, and I did. Now, I live within my means. I would like to own a old Craftsman house near Morley Field, but I cannot afford it. It’s simple: Do NOT buy what you cannot afford.

Its the mentality of the buyer that is the problem. Looking to be the rich and famous, when you aren’t the rich and famous. It is called taking responsibility. The problem with this society is everyone blames everyone else for their problems.

[Ricechex]

Thanks Ray. The problem with AMEX, is that they are not used by many merchants. I try to patronize local businesses, my hairstylist, the local hardware store, etc, and AMEX is not accepted.

And, I don’t have any balance transfers, because I don’t carry any balances.

I am going to check out Jupitor Bank though….Thanks so much! You guys are great.

Oh, one I thought was a good purchase….just got Worldpoints CC through Continental. It cost $85 annual fee, BUT, got 10K miles after one purchase. 85$ for 10K miles is a good deal…I needed about that much for an upcoming trip.

[Ricechex]

Thanks Ray. The problem with AMEX, is that they are not used by many merchants. I try to patronize local businesses, my hairstylist, the local hardware store, etc, and AMEX is not accepted.

And, I don’t have any balance transfers, because I don’t carry any balances.

I am going to check out Jupitor Bank though….Thanks so much! You guys are great.

Oh, one I thought was a good purchase….just got Worldpoints CC through Continental. It cost $85 annual fee, BUT, got 10K miles after one purchase. 85$ for 10K miles is a good deal…I needed about that much for an upcoming trip.

[Ricechex]

HLS–Heh heh heh. Looking for some free money now…all I can see is a BofA with a 3% transaction fee on cash advances, 0% APR for 12 months. Thus, on $10K the fee would be $300. Take the $10K and lock it up for 5.5%, so you are making a little money, about $250 I think. Can’t decide if it is worth the effort. Although, I take a small amount of pleasure in getting them back at their own game! Let them try and make me a fool! No sir!

OK, back to HELOC then…..so, would it be better for me to close the account? Then, I would have NO lien at all. (I don’t like owing, liens, I like to be free of any financial complications)

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