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February 5, 2013 at 3:27 PM in reply to: Freddie Mac has now decided to allow “strategic default” under certain conditions #758860
spdrun
ParticipantHence four references and lots of questions — really hard to get four liars’ stories to jibe.
spdrun
ParticipantMy means of checking:
* ask for four references, two personal, one work, one second to current landlord (current may give a good reference just to have them out!). If I don’t get the references promptly, the person is obviously not interested
* Google everyone
* Google the tenant(s)
* call everyone, talk a lot. See if stories match. See if my amygdala hates the tenant-to-be
* no background/immigration/credit checks other than my own informal one
* one month’s security deposit, no money accepted or contracts given till the above has happenedspdrun
ParticipantBut some of the close-in areas (read: downtown) seem to also have annoyingly high charges on condos. 400-500/mo carrying charges alone on a smallish one-bedroom may fly in NYC (where heat, hot water, and possibly electricity are included), but not so much in SD.
February 1, 2013 at 9:36 PM in reply to: Freddie Mac has now decided to allow “strategic default” under certain conditions #758785spdrun
ParticipantHopefully, more strategic defaulters will keep US property values down where they belong. Couldn’t care less about the boomers and Gen X’ers who were retarded enough to take mortgages at unrealistic values — time for a new generation to be able to buy.
When property values went “THUNK” in 2008, I (and many others my age) felt like Nick Cage in Lord of War.
spdrun
ParticipantI suspect that the news will filter through sooner or later. There seems to be a good-news-bad-news cycle on roughly a monthly basis — actually pretty convenient if you can time the fuckin’ thing.
spdrun
ParticipantIt doesn’t hurt to throw offers at anything you find halfway acceptable. Until it’s accepted by both sides and the bank, it’s no offer at all and can be easily rescinded.
spdrun
ParticipantDon’t get me wrong, I made money off the 14k as well, and I thank Zimbabwe Bennie more than Barack for this. However, I have stop orders in place, and will also have a fucking massive orgasm when people wake up (and/or sequestration happens) and the Dow drops to something like 11-12k. Chaos = opportunity, and here’s hoping for some chaos soon!
February 1, 2013 at 11:53 AM in reply to: No money down loans are back…(psuedo-affluent borrowers only..) #758762spdrun
Participant7-8% cap rate on renting out fork-lost properties in some parts of the country is actually LOW these days.
February 1, 2013 at 11:09 AM in reply to: No money down loans are back…(psuedo-affluent borrowers only..) #758756spdrun
Participant*yawn* It’s basically a secured loan — they even existed during the tight-lending years of the 80s. Nothing horrible to see here. Same deal as getting a margin loan against an investment account, though likely with a slightly better rate.
spdrun
ParticipantJeez, if it works and the lender is decent in other respects, just roll with it. Tech for the sake of looking like you’re in 2013 is just showmanship, and I’d rather deal with an old-school entity that provides decent service in other respects.
spdrun
ParticipantJeez, what’s the big deal about snail mail? Even if you don’t live a block from a post office as I do, you can always drop the thing in the outgoing pile at the office. Cost of a stamp is chump change w.r.t. the cost of a mortgage.
spdrun
Participantwe all were bears in 2005 and it saved out butts, but if you were a RE bear early last year, you’ve missed a huge run up. That’s the difference between perma-bear and a realist.
Depends where. Both accepted offers in SD that I have were made in Oct-Nov of last year, accepted in Dec, and are at prices only marginally higher than those of late 2011. Speaking of home, the NYC/NJ area still has plenty of shorts and fork-losers ready to pop, and prices haven’t appreciably changed from last year. There’s still plenty of opportunity to acquire rental property if one is smart and flexible.
spdrun
ParticipantMost of todays CA lizard lands become tomorrows Job centers.
Unless it’s in the mountains, I’d rather saw off my cojones with a rusty chainsaw than live more than 10 mi from the coast in CA. What’s the point?
January 27, 2013 at 8:05 AM in reply to: The Phil Mickelson Effect and California: Taxed to the MAX!!! #758576spdrun
ParticipantThe fairest thing would be for CA to SECEDE from the US. The parasite-pigs in DC take much more money from its citizens than they give back, per capita. It goes to support pestholes like Mississippi and Oklahoma that should have been kicked out in 1861.
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