[SD Realtor]

Hi Henry

The size distribution of homes in 4S is simply a decision of the builders of what to build. It really is what it is… 4S is characterized by a high housing density where most all of the homes take up a large percentage of the lots. I believe the construction is overall good quality and do not classify it as subpar as others do. Yes there are isolated areas where there were some foundation issues but the vast majority of 4S is good.

While there are going to be continued foreclosures in 4S the bottom for that area came and went awhile back with regards to the 2500-3000 sf homes. I think you will see continued foreclosures there but due to the manipulation in the market with respect to continued low interest rates and other shenanigans we will see fairly poor inventory levels. As to when the properties will hit the MLS it is anyones guess. The path through the default process is as slow as ever and the efforts to keep people in homes is as strong as ever and even more effort will be put forth this year to enable them to stay. If you find something you like and can afford it, then you should probably move on it. If you have a few years to wait then hold off because prices will not start to depreciate until we have interest rate movement that is non trivial.

[SD Realtor]

It is pretty much an issue that nobody really likes to talk about.

[SD Realtor]

“He focussed on me for five minutes like I was the only human in the universe.”

Umm yeah… okay then…

So Ebby Halliday didn’t get to where she was because of her looks. Guess what, there have always been beautiful women and there always will be. She became a success because she busted ass by going door to door to door. She learned real estate and became expert in it. She learned how to deal with people as well. She gained ability, had success and gained confidence from that.

Pretty much the recipe for most all exceptional people who excel…. perhaps even Johnnie Cochran.

[SD Realtor]

yet you didnt answer how one gains ability.

[SD Realtor]

and how does one develop ability?

[SD Realtor]

scaredy I would encourage you to google and learn about ebby halliday. Don’t just wiki her, try to get a little more in depth.

The bottom line to me is that with the exception of professions steeped in nepotism such as acting or politics, excelling in all professions is based on the individual. Yes there will always be outliers who were successful for luck or being in the right place at the right time, however on the average it is based on the person.

Also the quality of the individual in the profession is not always determined by wealth. For instance I know of plenty of very wealthy quillionaires and brillianaires, (engineers who happened to be at qualcomm and broadcom at the right time with lots of options) and they have lots of money. However plenty of them pale with regards to knowledge in the expertise they are in to peers at other companies who are not wealthy.

With regards to RE, Take Battiata for example. He is pretty damn successful. Does great volume. Now I may not agree with how he runs his shop but I will be the first one to say he is making great money and gets tons of listings. How did he get this way scaredy? He didn’t just fall into it. He worked his ass off, did a great job advertising, and spent countless hours year over year building himself up. Obviously he is good at what he does but it didn’t happen by circumstance or luck.

He made himself what he was. This is generally true for most professions.

[SD Realtor]

“Don’t forget the six-digit payments that every realtor gets as part of their government subsidy”

You promised you were not going to tell anyone about that…

[SD Realtor]

What makes some realtors more successful than others?

really scaredy?

what makes some engineers better then others?

what makes some accountants better then others?

what makes some women better then others?

what makes some policemen better then others?

come on now… it is a combination of dedication, work ethic, skill, intelligence… being a successful realtor is not any different then being successful in any profession that anybody here works in…

[SD Realtor]

Yep every single realtor made a ton of money!

We are all rich!!!

Weeeeeeeee

[SD Realtor]

Depends on the agreement the broker and agent have in place. More experienced agents that bring in alot of business get a bigger cut.

[SD Realtor]

Depends on how your loan application is structured. If you have not disclosed to the lender that the majority of the property is being used as a rental then yes it can be considered mortgage fraud, especially because of the description of the studio.

[SD Realtor]

From the standpoint of an IRS lien then yes I would say you are in the clear, you do not have to worry about a redemption, (in which you would be paid whatever you paid for the home plus interest by the IRS if you didn’t want to cure the lien).

As far as the property taxes then yeah just go and pay them and you will be fine. Check out the recordings on the home at the assessors office as well, that is a wise step… and free also.

[SD Realtor]

A few things…

First off, regarding the pr (preliminary title report). Again, I would stress to you that you should go get an updated one. Go to a reputable title company, pay the money and get one now.

Second, the trustee is under no obligation at all to provide a title report. In fact I am very surprised they did that at all as I would think that by doing so they could incur some sort of liability. However I would not trust it even if they did.

Third, one of the real kickers are IRS liens. Finding them is much more difficult. I believe the right of redemption is 90 days depending on the state. I have forgotten alot of the knowledge I obtained when we were hot and heavy into this stuff. If you have owned the property over 90 days and have not been contacted then you are probably okay.

Fourth, as UCGAL suggested you can find tax liens by going to the assessors site for the county that the home is in. If the house is in Riverside County then that is where you will find any property tax liens. No other counties can levy taxes on the home.

Fifth, there are a myriad of other issues such as judgements and such that can affect the status of a home with respect to liens. I will not even start to get into those aspects.

**********************************************

Now I cannot advise you strongly enough, and I am not trying to be harsh, just honest…. If you do not know how to determine a first from a second deed from the pr, then please, please, please do not go to a trustee sale and buy another home. Do yourself a large favor and take the time to learn about things first before plunging in.

I consider myself pretty knowledgeable about real estate and I had two very astute investors with me when we did this. We had the help of a great title officer and some of their staff. Even with that, we made a few dry runs and had a runner to help us scope properties and such. With all that in place we were all scared sh-tless when doing this stuff. We literally spent a few thousand hours between all the auctions, scoping out homes, studying liens, title information, trying to determine if tenants or owners were in the home, trying to determine if the home was in decent shape etc… and in all that time, all that research we did 14 homes.

To hear that you bought a home and are not sure about how to decipher a pr is chilling. I am glad you got the home and I hope you do alright. Do yourself a favor and think about hiring someone to help you guys out with this stuff or take the time to learn it… all it takes is one bad purchase at trustee sale and you are screwed.

[SD Realtor]

Cracking me up pri_dk.. Ever since you talked me out of flat rate taxation I have been watching your words.

SK I know I used the rhetoric (redistribution of wealth) in an improper manner. I think what I am trying to get at is that I find a hard time trying to figure out exactly where Obama and the dems in general stand? Is that utopia more like a CAR utopia or more like a pr utopia? You kind of see what I am saying?

To me there is no doubt that Obama (and any other partisan candidate blue or red) will pander to the voters class in order to get votes. So yes to the more disenfranchised voters Obama (or any other candidate) would demonize wealth no matter how it was accrued. Forget about taxes for the moment and throwing out the partisan rhetoric is that how he really feels? Is that how people like Harry and Nancy feel?

Or is there more logic that is in their reality… that yes we can improve social safety nets but we do have to make sure the playing field is level between public/private jobs, union verses non union, etc even at the expense of pissing off some of our lobbyists and that improvements of social safety nets will come at the expense of other programs given a limited budget?

In my opinion (and it is only my opinion.. .the reality of the situation for our society and utopia CAR espouses are quite far apart and they cement a stereotype that I have developed over time for dems in general) However I think and hope I am wrong and if Obama/Nancy/Harry are going to be in charge I would hope that the people who voted for them would demand some of the common sense ideas that I have seen posted. To me some of these ideas that came from brian and pri_dk are contrary to what I think Obama and the dems stand for. That could be because of my own misconceptions……..I am not sure.

[SD Realtor]

UCGAL I agree with you entirely, especially your points about Wall Street and Obamacare. The rich have certainly gotten richer and Wall Street has benefited greatly.

I guess my point was with regards to the voters or supporters, not Obama himself….to me there was little to no ideological differences between Obama supporters or the left in general. I think that the some of these threads have pointed out there are substantial differences…of course those are all my own shortcomings.

I believe that there is a very large segment of Obama supporters that fall into the CAR camp. That unions, public employees have been persecuted more the then private sector, and that the compensation of employees across all sectors public, private, union, non union is equivalent. That Wall Street is 100% responsible for all the woes in our country. That big business provides no benefits, and all profits should go to the workers. Never mind about capital investment, etc…

There is another substantial block that falls into the entitlement camp. They are the “I will take every advantage of the social safety net that is out there without really putting in the effort to help myself”.. and this president will see to it that I get more and more….

Then there is a more well educated and rational block like say pr_dk. I may not agree with him but his approach is grounded in logic. Brian not so much. He applies logic when it suits him but those rose colored glasses are glued on. Still though, the intelligence is there in a maddening sort of way.

Make no mistake UCG, like you said we are screwed either way.

[Author]

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