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temeculaguy
ParticipantWay to go exclipse, your purchase experience is almost identical to mine, I wont press you for details since you are in escrow but I am curious as to which development you chose.
temeculaguy
ParticipantWay to go exclipse, your purchase experience is almost identical to mine, I wont press you for details since you are in escrow but I am curious as to which development you chose.
temeculaguy
ParticipantWay to go exclipse, your purchase experience is almost identical to mine, I wont press you for details since you are in escrow but I am curious as to which development you chose.
temeculaguy
ParticipantMaybe I read the data wrong but the numbers seemed to be beyond 40% built, it looked like 700 or 900 of the 1100 were already built. Bonds are tricky, I have no info about this one in particular but if it was designed to build three schools and only 2/3 of the houses get built, they don;t build the third school just yet. Water improvements are done ahead of building, but schools aren’t always. reputation and rating also play a role, if investors get screwed they will want more profit next time, so it is on Poway’s best interest to play the expenditures safe and keep the investors happy. I highly doubt that buildable, permitted residential in the Poway district sits vacant for 25 years, but it’s not my money so what do I know.
temeculaguy
ParticipantMaybe I read the data wrong but the numbers seemed to be beyond 40% built, it looked like 700 or 900 of the 1100 were already built. Bonds are tricky, I have no info about this one in particular but if it was designed to build three schools and only 2/3 of the houses get built, they don;t build the third school just yet. Water improvements are done ahead of building, but schools aren’t always. reputation and rating also play a role, if investors get screwed they will want more profit next time, so it is on Poway’s best interest to play the expenditures safe and keep the investors happy. I highly doubt that buildable, permitted residential in the Poway district sits vacant for 25 years, but it’s not my money so what do I know.
temeculaguy
ParticipantMaybe I read the data wrong but the numbers seemed to be beyond 40% built, it looked like 700 or 900 of the 1100 were already built. Bonds are tricky, I have no info about this one in particular but if it was designed to build three schools and only 2/3 of the houses get built, they don;t build the third school just yet. Water improvements are done ahead of building, but schools aren’t always. reputation and rating also play a role, if investors get screwed they will want more profit next time, so it is on Poway’s best interest to play the expenditures safe and keep the investors happy. I highly doubt that buildable, permitted residential in the Poway district sits vacant for 25 years, but it’s not my money so what do I know.
temeculaguy
ParticipantMaybe I read the data wrong but the numbers seemed to be beyond 40% built, it looked like 700 or 900 of the 1100 were already built. Bonds are tricky, I have no info about this one in particular but if it was designed to build three schools and only 2/3 of the houses get built, they don;t build the third school just yet. Water improvements are done ahead of building, but schools aren’t always. reputation and rating also play a role, if investors get screwed they will want more profit next time, so it is on Poway’s best interest to play the expenditures safe and keep the investors happy. I highly doubt that buildable, permitted residential in the Poway district sits vacant for 25 years, but it’s not my money so what do I know.
temeculaguy
ParticipantMaybe I read the data wrong but the numbers seemed to be beyond 40% built, it looked like 700 or 900 of the 1100 were already built. Bonds are tricky, I have no info about this one in particular but if it was designed to build three schools and only 2/3 of the houses get built, they don;t build the third school just yet. Water improvements are done ahead of building, but schools aren’t always. reputation and rating also play a role, if investors get screwed they will want more profit next time, so it is on Poway’s best interest to play the expenditures safe and keep the investors happy. I highly doubt that buildable, permitted residential in the Poway district sits vacant for 25 years, but it’s not my money so what do I know.
January 18, 2009 at 9:52 AM in reply to: Are banks holding back on foreclosed properties in San Diego? #330813temeculaguy
ParticipantThat is an anectdotal circumstance being theorized as a national conspiracy, I’m not buying it. The banks are slow to foreclose because they are busy and because they are encouraged/hindered by the governement to find alternatives and work out loans. The redefault rate is high on workouts and ultimately most are foreclosed and sold. The year long process is frustrating and the banks see it as a last result but 70% of the inventory isn’t sitting vacant as part of a conspiracy. Most banks held off on December kick outs but if you run the nods/nots for January, you will see they are heating up again. I spent 18 months tracking the nods/nots and curbside analysis of a particular zip code in my maniacal quest to beat the system. The conspiracy theories were fun but every data anomolie had an explanation. The California forcing banks to jump through some hoops before foreclosing caused about a 6 week drought in foreclosures and December always slows down, but the data gets corrected in most cases and evens out. That’s the beauty of the invisible hand, you can;t always see it but it’s always there. Of all the properties I tracked from nod to not to list, they all made eventually, they just had different timelines for reasons that I was not privy to.
January 18, 2009 at 9:52 AM in reply to: Are banks holding back on foreclosed properties in San Diego? #331150temeculaguy
ParticipantThat is an anectdotal circumstance being theorized as a national conspiracy, I’m not buying it. The banks are slow to foreclose because they are busy and because they are encouraged/hindered by the governement to find alternatives and work out loans. The redefault rate is high on workouts and ultimately most are foreclosed and sold. The year long process is frustrating and the banks see it as a last result but 70% of the inventory isn’t sitting vacant as part of a conspiracy. Most banks held off on December kick outs but if you run the nods/nots for January, you will see they are heating up again. I spent 18 months tracking the nods/nots and curbside analysis of a particular zip code in my maniacal quest to beat the system. The conspiracy theories were fun but every data anomolie had an explanation. The California forcing banks to jump through some hoops before foreclosing caused about a 6 week drought in foreclosures and December always slows down, but the data gets corrected in most cases and evens out. That’s the beauty of the invisible hand, you can;t always see it but it’s always there. Of all the properties I tracked from nod to not to list, they all made eventually, they just had different timelines for reasons that I was not privy to.
January 18, 2009 at 9:52 AM in reply to: Are banks holding back on foreclosed properties in San Diego? #331226temeculaguy
ParticipantThat is an anectdotal circumstance being theorized as a national conspiracy, I’m not buying it. The banks are slow to foreclose because they are busy and because they are encouraged/hindered by the governement to find alternatives and work out loans. The redefault rate is high on workouts and ultimately most are foreclosed and sold. The year long process is frustrating and the banks see it as a last result but 70% of the inventory isn’t sitting vacant as part of a conspiracy. Most banks held off on December kick outs but if you run the nods/nots for January, you will see they are heating up again. I spent 18 months tracking the nods/nots and curbside analysis of a particular zip code in my maniacal quest to beat the system. The conspiracy theories were fun but every data anomolie had an explanation. The California forcing banks to jump through some hoops before foreclosing caused about a 6 week drought in foreclosures and December always slows down, but the data gets corrected in most cases and evens out. That’s the beauty of the invisible hand, you can;t always see it but it’s always there. Of all the properties I tracked from nod to not to list, they all made eventually, they just had different timelines for reasons that I was not privy to.
January 18, 2009 at 9:52 AM in reply to: Are banks holding back on foreclosed properties in San Diego? #331253temeculaguy
ParticipantThat is an anectdotal circumstance being theorized as a national conspiracy, I’m not buying it. The banks are slow to foreclose because they are busy and because they are encouraged/hindered by the governement to find alternatives and work out loans. The redefault rate is high on workouts and ultimately most are foreclosed and sold. The year long process is frustrating and the banks see it as a last result but 70% of the inventory isn’t sitting vacant as part of a conspiracy. Most banks held off on December kick outs but if you run the nods/nots for January, you will see they are heating up again. I spent 18 months tracking the nods/nots and curbside analysis of a particular zip code in my maniacal quest to beat the system. The conspiracy theories were fun but every data anomolie had an explanation. The California forcing banks to jump through some hoops before foreclosing caused about a 6 week drought in foreclosures and December always slows down, but the data gets corrected in most cases and evens out. That’s the beauty of the invisible hand, you can;t always see it but it’s always there. Of all the properties I tracked from nod to not to list, they all made eventually, they just had different timelines for reasons that I was not privy to.
January 18, 2009 at 9:52 AM in reply to: Are banks holding back on foreclosed properties in San Diego? #331338temeculaguy
ParticipantThat is an anectdotal circumstance being theorized as a national conspiracy, I’m not buying it. The banks are slow to foreclose because they are busy and because they are encouraged/hindered by the governement to find alternatives and work out loans. The redefault rate is high on workouts and ultimately most are foreclosed and sold. The year long process is frustrating and the banks see it as a last result but 70% of the inventory isn’t sitting vacant as part of a conspiracy. Most banks held off on December kick outs but if you run the nods/nots for January, you will see they are heating up again. I spent 18 months tracking the nods/nots and curbside analysis of a particular zip code in my maniacal quest to beat the system. The conspiracy theories were fun but every data anomolie had an explanation. The California forcing banks to jump through some hoops before foreclosing caused about a 6 week drought in foreclosures and December always slows down, but the data gets corrected in most cases and evens out. That’s the beauty of the invisible hand, you can;t always see it but it’s always there. Of all the properties I tracked from nod to not to list, they all made eventually, they just had different timelines for reasons that I was not privy to.
temeculaguy
ParticipantNo investment is 100% safe but those bonds are as close as you are going to get. The taxes and bonds on a property do not go away when a house goes into foreclosure, they accrue interest and penalties and must be paid back when the bank sells the house or land, the transfer cannot take place until it is paid in full and if it isn’t paid in full for five years the county will take the property. Nobody is better at making sure it gets paid than the county assesor, mello roos cannot be negotiated down like the value. The ways that you can get screwed out of your investment are things like nuclear war, California falling into the ocean, or anything else that would make the land vanish and become inhabitable forever. The odds are in your favor.
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