[SD Realtor]

All all of the short term fixed rate loans are amortized over 30 years to make a reasonable payment. A 15 year fixed rate mortgage is generally amortized over 15 years but the 3/5/7/10 year notes are usually not.

If it were my home and I realized at least a 50% chance of returning I would refi it into a longer term at a fixed rate while I still lived there and then convert it to a rental.

Alternative to that I would keep the current loan and then revisit the refi choice over the next 2 years but that choice will become less appealing because you don’t live in the home anymore and will not get as good a rate on the refi. That is unless rates drop in the future but that seems unlikely.

[SD Realtor]

I always encourage people to keep properties if it works out for them to do so. Long term accumulation of real estate is a nice goal, especially if there is a possibility of keeping the home for a longer term.

[SD Realtor]

Someday rates will rise and that will happen. Maybe in a year, or maybe in 10 or 20. If rates do spiral however, given the national debt level, there will be a hell of a lot more problems then housing depreciation.

[SD Realtor]

You know, that slowdown that happens when nobody wants to live in San Diego anymore. I am sure it is just around the corner.

[SD Realtor]

Yep you need to check with your CPA. Your 100k calculation needs to also include depreciation recapture. Make sure you calculate your basis correctly.

[SD Realtor]

All closing costs are negotiable in California with that said, given the current market conditions, the following is somewhat typical:

– The cost of escrow is split 50/50

You can shop a few escrow companies but the cost of escrow is generally going to be based on the sales price of the home. So if you are paying 2150 then your seller is as well so the total cost of escrow if 4300. Call a few escrow companies, tell them the sales price of the home, and they will quote you a total for escrow only.

Then you will of course be nicked for a few hundred in the loan tie in, various docs and other fees as you quoted above. Again this is standard.

The 858 is for the title insurance policy that you need to purchase for your lender. Again this based on the value of the policy. I have used Lawyers before.

The other fees are standard as is the notary. You can tell the escrow company you want to hire your own notary and have the notary charge escrow. However if your notary screws up the loan docs, nobody will be to happy. The cost of escrow doesn’t cover 3rd party costs. Yes escrow companies do have notaries on staff but that doesn’t mean you will not be charged.

All in all, there is nothing that stands out as out of line with the line items you identified above.

[SD Realtor]

Obviously the lease will be tailored to match the individual HOA. While it may be a pain in the ass to understand the HOA bylaws and such, any responsible landlord should know them, especially the rules regarding the notifications so that they can protect themselves in the lease. A simple call to the HOA or PM with a question of where in the bylaws or CCRs is/is not the instructions regarding notifications should get an answer. If there is not any notification then the lease should be tailored to account for that. Unfortunately for the original poster, they are going to have to deal with it directly through the HOA or fight it in court unless they had some sort of protection. Kind of a bummer.

[SD Realtor]

I am not so sure it is a good idea to presume the courts will choose to enforce/not enforce anything. Playing it safe from the beginning to me makes more sense. Additionally it is always such fun to spend time going to court fighting off something stupid that your tenant did.

As others have implied, having a very strict lease requiring the tenant to comply with all hoa bylaws and ccrs is a good idea. Furthermore there is usually a notice of violation of the hoa when the unit is in violation. You may want to even put in the lease that upon notification of violation the tenant has x number of days to remedy the violation or else the tenant is in default.

[SD Realtor]

“They don’t need to do that, just pass a prop like we did to do taxes on the rich, but classify tax from government pensions differently and subject them to a 50% tax over a certain amount, say $50,000.”

This clearly should be the nominated as the best post of the year.

[SD Realtor]

Hey FLU you should live in a cave in the hills of Temecula to avoid the impeding earthquake and subsequent Tsunami. Nobody wants to buy in CV anyway. You make it sound like it has been one of the best places in the country to buy a place over the past 30 years.

Everything is different now though so you better prep for it man!

[SD Realtor]

I know what you are saying FLU. Kind of depressing. However going to the moon just to go there to me is something we can’t afford. However if there were plans to create something there such as a mining operation, or build up some infrastructure that would play a role in the future then yes we should be working on that.

[SD Realtor]

Except I know the end users. Once more don’t try to tell me what I do and where my products go.

Furthermore I marvel at how the point is conveniently ignored because it is much easier to not address the point but attack the person bringing it up because he doesn’t agree with the policies implemented by the administration.

Very well done by many of you.

Excellent strategy.

[SD Realtor]

No you (as usual) are missing my point completely. Also you are incorrect. Yes I am licensed and own a real estate business. However I also am an electrical engineer and have been for 25 years designing digital and mixed level custom designs. Never have done any work for defense or govt contract. So please don’t try to tell me where I make the bulk of my money and take a moral high ground that you are so prone to do.

Furthermore most all Obama supporters including my parents, brothers and sister all (used to claim) that in addition to his policies, they felt one of the fundamental changes he brought to the table was one of transparency. That he could be trusted, that his administration would not be beholden to lobbyist and free from chronyism. IMHO this administration is anything but that, and again IMHO this administration is a classic display of the opposite.

So before you go telling people about the wrongness of their assertions perhaps you need to get the facts straight.

[SD Realtor]

Maybe he did, maybe he didn’t. It may indeed be traceable to somewhere in the administration. Same thing with the IRS scandal that wasn’t a scandal.

It doesn’t matter at this point.

The balance of the numbers imply that there is such a vast number of people receiving entitlements, that the party or person who continues to provide the most for them will pretty much win each election regardless of any other factors.

[SD Realtor]

Nope not surprised, never was. They all have lied. The only surprising thing is how much of our society believed/believes he was any different.

Additionally there was a good point made awhile back that what is more troublesome is not the lies from the top, but the abuses performed by individuals within the system. More often then not, these are done at the benefit of the administration without the administration even knowing it.

[Author]

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