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September 12, 2010 at 5:40 PM in reply to: NYT article: Housing Woes Bring a New Cry: Let the Market Fall #604162September 12, 2010 at 5:40 PM in reply to: NYT article: Housing Woes Bring a New Cry: Let the Market Fall #604712
SD Realtor
ParticipantWell Sandra I do not necessarly disagree with you but please confront reality with your wish list. Corporations were moving offshore as of 20 years ago so this is not a new phenomenah. The bottom line is as you said, most Americans are all overpaid and they are overpaid because of our cost of living. Corporate profits are the bottom line so essentially there is nothing wrong with the corporations doing what they are doing. Essentially it will lower the standard of living for the average American as well it should. However the costs of living are not going down nor will they. The result will be more Americans living a lower standard of living and more Americans relying on some sort of welfare in one form or another.
My post was to point out that having nice new railways from airports and finding busy work for Americans clearly is not the answer. The systemic issues are such that measures such as those are nothing but more waste at this time. Furthermore while the reasons you pointed out may indeed be the fundamental issue that drives the bottom line of the corporate ledger, the tax environment as it is clearly does not help. Indeed since things are so clearly overpriced, one would reason it may be more incumbent on the govt structure to INCENTIVIZE corps to stay via compensation of some sort.
September 12, 2010 at 5:40 PM in reply to: NYT article: Housing Woes Bring a New Cry: Let the Market Fall #604819SD Realtor
ParticipantWell Sandra I do not necessarly disagree with you but please confront reality with your wish list. Corporations were moving offshore as of 20 years ago so this is not a new phenomenah. The bottom line is as you said, most Americans are all overpaid and they are overpaid because of our cost of living. Corporate profits are the bottom line so essentially there is nothing wrong with the corporations doing what they are doing. Essentially it will lower the standard of living for the average American as well it should. However the costs of living are not going down nor will they. The result will be more Americans living a lower standard of living and more Americans relying on some sort of welfare in one form or another.
My post was to point out that having nice new railways from airports and finding busy work for Americans clearly is not the answer. The systemic issues are such that measures such as those are nothing but more waste at this time. Furthermore while the reasons you pointed out may indeed be the fundamental issue that drives the bottom line of the corporate ledger, the tax environment as it is clearly does not help. Indeed since things are so clearly overpriced, one would reason it may be more incumbent on the govt structure to INCENTIVIZE corps to stay via compensation of some sort.
September 12, 2010 at 5:40 PM in reply to: NYT article: Housing Woes Bring a New Cry: Let the Market Fall #605135SD Realtor
ParticipantWell Sandra I do not necessarly disagree with you but please confront reality with your wish list. Corporations were moving offshore as of 20 years ago so this is not a new phenomenah. The bottom line is as you said, most Americans are all overpaid and they are overpaid because of our cost of living. Corporate profits are the bottom line so essentially there is nothing wrong with the corporations doing what they are doing. Essentially it will lower the standard of living for the average American as well it should. However the costs of living are not going down nor will they. The result will be more Americans living a lower standard of living and more Americans relying on some sort of welfare in one form or another.
My post was to point out that having nice new railways from airports and finding busy work for Americans clearly is not the answer. The systemic issues are such that measures such as those are nothing but more waste at this time. Furthermore while the reasons you pointed out may indeed be the fundamental issue that drives the bottom line of the corporate ledger, the tax environment as it is clearly does not help. Indeed since things are so clearly overpriced, one would reason it may be more incumbent on the govt structure to INCENTIVIZE corps to stay via compensation of some sort.
SD Realtor
ParticipantTake some pictures to get evidence of the condition of the home. Save all of your receipts for the cost of disposing of their stuff and then go to small claims to try to recoup those costs.
Call the listing agents broker to complain about the entire process. Talk to your agent and/or your agents broker and consider filing a complaint with the DRE if the broker feels their is grounds to do so.
SD Realtor
ParticipantTake some pictures to get evidence of the condition of the home. Save all of your receipts for the cost of disposing of their stuff and then go to small claims to try to recoup those costs.
Call the listing agents broker to complain about the entire process. Talk to your agent and/or your agents broker and consider filing a complaint with the DRE if the broker feels their is grounds to do so.
SD Realtor
ParticipantTake some pictures to get evidence of the condition of the home. Save all of your receipts for the cost of disposing of their stuff and then go to small claims to try to recoup those costs.
Call the listing agents broker to complain about the entire process. Talk to your agent and/or your agents broker and consider filing a complaint with the DRE if the broker feels their is grounds to do so.
SD Realtor
ParticipantTake some pictures to get evidence of the condition of the home. Save all of your receipts for the cost of disposing of their stuff and then go to small claims to try to recoup those costs.
Call the listing agents broker to complain about the entire process. Talk to your agent and/or your agents broker and consider filing a complaint with the DRE if the broker feels their is grounds to do so.
SD Realtor
ParticipantTake some pictures to get evidence of the condition of the home. Save all of your receipts for the cost of disposing of their stuff and then go to small claims to try to recoup those costs.
Call the listing agents broker to complain about the entire process. Talk to your agent and/or your agents broker and consider filing a complaint with the DRE if the broker feels their is grounds to do so.
SD Realtor
ParticipantWhile your intent is okay there are some vagaries that need to be answered. Most important is, are you talking about San Diego or not? Also while you appear to be quite altruistic, if you are talking about helping people out I am assuming you would purchase the home first, then basically rent the home back to the previous owner correct?
So, if that is the case then you would be purchasing the home at trustee sale. I will say right now that our group is almost at a complete standstill because we have found the trustee sale path to be to competitive as margins are quite small. If your intent is to hold the property for quite awhile then you are okay. However know that you will need to do quite a bit of legwork. If you are thinking you can pull this off with a few hours a week then you are sadly mistaken and you will piss most of your money away. Also I concur with an above post that you may find after awhile that your current owners could not pay the mortgage and they will very likely fall behind on rent so you will end up evicting and getting new tenants. More time, and more money. If your goal is simply to flip that is fine just know that margins are quite thin nowadays.
One thing you may want to learn more about is trust deeds.
Alternately if you are looking at buying a home as a short sale, then renting it back to the original owner, I cannot comment on whether or not that constitutes fraud or not. If you think you can get a short sale, then relist it and resell it and still get margins…. well… good luck with that. Maybe last year you could have however the market has slowed considerably and I think more times then not you will lose money.
Again, all this is predicated on San Diego as well. I don’t know about other cities. I think you need to clarify your goal a little bit more and I could make a better recommendation. Buying and flipping right now is scary at best. You are about 2 years late to that party and right now everybody is into it and people will be getting burned unless you do it right. The best chances are ULTRA low end where you buy it, major rehab and sell it. Other side of the coin is high end and hope the high end doesn’t crumble while you hold it. Just know on the low end you will be competing against guys like Don Rady and people that have good crews, can rehab homes quick and own brokerages so they soak up all those costs.
SD Realtor
ParticipantWhile your intent is okay there are some vagaries that need to be answered. Most important is, are you talking about San Diego or not? Also while you appear to be quite altruistic, if you are talking about helping people out I am assuming you would purchase the home first, then basically rent the home back to the previous owner correct?
So, if that is the case then you would be purchasing the home at trustee sale. I will say right now that our group is almost at a complete standstill because we have found the trustee sale path to be to competitive as margins are quite small. If your intent is to hold the property for quite awhile then you are okay. However know that you will need to do quite a bit of legwork. If you are thinking you can pull this off with a few hours a week then you are sadly mistaken and you will piss most of your money away. Also I concur with an above post that you may find after awhile that your current owners could not pay the mortgage and they will very likely fall behind on rent so you will end up evicting and getting new tenants. More time, and more money. If your goal is simply to flip that is fine just know that margins are quite thin nowadays.
One thing you may want to learn more about is trust deeds.
Alternately if you are looking at buying a home as a short sale, then renting it back to the original owner, I cannot comment on whether or not that constitutes fraud or not. If you think you can get a short sale, then relist it and resell it and still get margins…. well… good luck with that. Maybe last year you could have however the market has slowed considerably and I think more times then not you will lose money.
Again, all this is predicated on San Diego as well. I don’t know about other cities. I think you need to clarify your goal a little bit more and I could make a better recommendation. Buying and flipping right now is scary at best. You are about 2 years late to that party and right now everybody is into it and people will be getting burned unless you do it right. The best chances are ULTRA low end where you buy it, major rehab and sell it. Other side of the coin is high end and hope the high end doesn’t crumble while you hold it. Just know on the low end you will be competing against guys like Don Rady and people that have good crews, can rehab homes quick and own brokerages so they soak up all those costs.
SD Realtor
ParticipantWhile your intent is okay there are some vagaries that need to be answered. Most important is, are you talking about San Diego or not? Also while you appear to be quite altruistic, if you are talking about helping people out I am assuming you would purchase the home first, then basically rent the home back to the previous owner correct?
So, if that is the case then you would be purchasing the home at trustee sale. I will say right now that our group is almost at a complete standstill because we have found the trustee sale path to be to competitive as margins are quite small. If your intent is to hold the property for quite awhile then you are okay. However know that you will need to do quite a bit of legwork. If you are thinking you can pull this off with a few hours a week then you are sadly mistaken and you will piss most of your money away. Also I concur with an above post that you may find after awhile that your current owners could not pay the mortgage and they will very likely fall behind on rent so you will end up evicting and getting new tenants. More time, and more money. If your goal is simply to flip that is fine just know that margins are quite thin nowadays.
One thing you may want to learn more about is trust deeds.
Alternately if you are looking at buying a home as a short sale, then renting it back to the original owner, I cannot comment on whether or not that constitutes fraud or not. If you think you can get a short sale, then relist it and resell it and still get margins…. well… good luck with that. Maybe last year you could have however the market has slowed considerably and I think more times then not you will lose money.
Again, all this is predicated on San Diego as well. I don’t know about other cities. I think you need to clarify your goal a little bit more and I could make a better recommendation. Buying and flipping right now is scary at best. You are about 2 years late to that party and right now everybody is into it and people will be getting burned unless you do it right. The best chances are ULTRA low end where you buy it, major rehab and sell it. Other side of the coin is high end and hope the high end doesn’t crumble while you hold it. Just know on the low end you will be competing against guys like Don Rady and people that have good crews, can rehab homes quick and own brokerages so they soak up all those costs.
SD Realtor
ParticipantWhile your intent is okay there are some vagaries that need to be answered. Most important is, are you talking about San Diego or not? Also while you appear to be quite altruistic, if you are talking about helping people out I am assuming you would purchase the home first, then basically rent the home back to the previous owner correct?
So, if that is the case then you would be purchasing the home at trustee sale. I will say right now that our group is almost at a complete standstill because we have found the trustee sale path to be to competitive as margins are quite small. If your intent is to hold the property for quite awhile then you are okay. However know that you will need to do quite a bit of legwork. If you are thinking you can pull this off with a few hours a week then you are sadly mistaken and you will piss most of your money away. Also I concur with an above post that you may find after awhile that your current owners could not pay the mortgage and they will very likely fall behind on rent so you will end up evicting and getting new tenants. More time, and more money. If your goal is simply to flip that is fine just know that margins are quite thin nowadays.
One thing you may want to learn more about is trust deeds.
Alternately if you are looking at buying a home as a short sale, then renting it back to the original owner, I cannot comment on whether or not that constitutes fraud or not. If you think you can get a short sale, then relist it and resell it and still get margins…. well… good luck with that. Maybe last year you could have however the market has slowed considerably and I think more times then not you will lose money.
Again, all this is predicated on San Diego as well. I don’t know about other cities. I think you need to clarify your goal a little bit more and I could make a better recommendation. Buying and flipping right now is scary at best. You are about 2 years late to that party and right now everybody is into it and people will be getting burned unless you do it right. The best chances are ULTRA low end where you buy it, major rehab and sell it. Other side of the coin is high end and hope the high end doesn’t crumble while you hold it. Just know on the low end you will be competing against guys like Don Rady and people that have good crews, can rehab homes quick and own brokerages so they soak up all those costs.
SD Realtor
ParticipantWhile your intent is okay there are some vagaries that need to be answered. Most important is, are you talking about San Diego or not? Also while you appear to be quite altruistic, if you are talking about helping people out I am assuming you would purchase the home first, then basically rent the home back to the previous owner correct?
So, if that is the case then you would be purchasing the home at trustee sale. I will say right now that our group is almost at a complete standstill because we have found the trustee sale path to be to competitive as margins are quite small. If your intent is to hold the property for quite awhile then you are okay. However know that you will need to do quite a bit of legwork. If you are thinking you can pull this off with a few hours a week then you are sadly mistaken and you will piss most of your money away. Also I concur with an above post that you may find after awhile that your current owners could not pay the mortgage and they will very likely fall behind on rent so you will end up evicting and getting new tenants. More time, and more money. If your goal is simply to flip that is fine just know that margins are quite thin nowadays.
One thing you may want to learn more about is trust deeds.
Alternately if you are looking at buying a home as a short sale, then renting it back to the original owner, I cannot comment on whether or not that constitutes fraud or not. If you think you can get a short sale, then relist it and resell it and still get margins…. well… good luck with that. Maybe last year you could have however the market has slowed considerably and I think more times then not you will lose money.
Again, all this is predicated on San Diego as well. I don’t know about other cities. I think you need to clarify your goal a little bit more and I could make a better recommendation. Buying and flipping right now is scary at best. You are about 2 years late to that party and right now everybody is into it and people will be getting burned unless you do it right. The best chances are ULTRA low end where you buy it, major rehab and sell it. Other side of the coin is high end and hope the high end doesn’t crumble while you hold it. Just know on the low end you will be competing against guys like Don Rady and people that have good crews, can rehab homes quick and own brokerages so they soak up all those costs.
SD Realtor
ParticipantWell at least you defined the price which was 12,000. This is good. Add an addendum to say that the closing costs are both recurring and non recurring . Also know that if you do not use all of the 12k up, that you the buyer do NOT get the difference, the lender will not allow that. So make sure you eat that money up IN ESCROW even if it means getting some upgrades done to the home.
Now you may or may not get a p.o.s loan but YOU have the power to prevent that. It just takes legwork. Also remember, dont focus on just the rate. If you are gonna get an apples to apples comparison you need to include rate and cost of financing.
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