[temeculaguy]

run a google search for todd lackner, he is a san diego appraiser that has been working for/consulting with regulators and law enforcement and he’s gotten a lot done. Here’s an article but there are tons of them, a little digging and you should find some contact info, he should be able to direct you to the right place or might be interested himself.

http://www.signonsandiego.com/uniontrib/20080708/news_1n8fraud.html

and one by kelly bennet on vosd, she posts here so e-mailing her should get you in touch with todd if he’s not listed in the phone book.

http://www.voiceofsandiego.org/articles/2008/02/02/housing/912mortgage092407.txt

I was fraternity brothers with todd in college, he’s a good dude, I’d give you his info myself or tell you to tell him i sent you but that would blow my cover as an international man of mystery so you gotta get it on your own.

My last question is why is this a shady deal, seems to be priced right at $203 a foot in mira mesa for a circa 1970’s, but if you say that’s a screaming deal that it must be a scam, i’ll take your word for it and offer my condolences, please wait on those at least another year, that thing has 200k written all over it. I found a neighbor house with a 175k 1999 price, I’d say 250k is overpriced.

[temeculaguy]

run a google search for todd lackner, he is a san diego appraiser that has been working for/consulting with regulators and law enforcement and he’s gotten a lot done. Here’s an article but there are tons of them, a little digging and you should find some contact info, he should be able to direct you to the right place or might be interested himself.

http://www.signonsandiego.com/uniontrib/20080708/news_1n8fraud.html

and one by kelly bennet on vosd, she posts here so e-mailing her should get you in touch with todd if he’s not listed in the phone book.

http://www.voiceofsandiego.org/articles/2008/02/02/housing/912mortgage092407.txt

I was fraternity brothers with todd in college, he’s a good dude, I’d give you his info myself or tell you to tell him i sent you but that would blow my cover as an international man of mystery so you gotta get it on your own.

My last question is why is this a shady deal, seems to be priced right at $203 a foot in mira mesa for a circa 1970’s, but if you say that’s a screaming deal that it must be a scam, i’ll take your word for it and offer my condolences, please wait on those at least another year, that thing has 200k written all over it. I found a neighbor house with a 175k 1999 price, I’d say 250k is overpriced.

[temeculaguy]

run a google search for todd lackner, he is a san diego appraiser that has been working for/consulting with regulators and law enforcement and he’s gotten a lot done. Here’s an article but there are tons of them, a little digging and you should find some contact info, he should be able to direct you to the right place or might be interested himself.

http://www.signonsandiego.com/uniontrib/20080708/news_1n8fraud.html

and one by kelly bennet on vosd, she posts here so e-mailing her should get you in touch with todd if he’s not listed in the phone book.

http://www.voiceofsandiego.org/articles/2008/02/02/housing/912mortgage092407.txt

I was fraternity brothers with todd in college, he’s a good dude, I’d give you his info myself or tell you to tell him i sent you but that would blow my cover as an international man of mystery so you gotta get it on your own.

My last question is why is this a shady deal, seems to be priced right at $203 a foot in mira mesa for a circa 1970’s, but if you say that’s a screaming deal that it must be a scam, i’ll take your word for it and offer my condolences, please wait on those at least another year, that thing has 200k written all over it. I found a neighbor house with a 175k 1999 price, I’d say 250k is overpriced.

[temeculaguy]

run a google search for todd lackner, he is a san diego appraiser that has been working for/consulting with regulators and law enforcement and he’s gotten a lot done. Here’s an article but there are tons of them, a little digging and you should find some contact info, he should be able to direct you to the right place or might be interested himself.

http://www.signonsandiego.com/uniontrib/20080708/news_1n8fraud.html

and one by kelly bennet on vosd, she posts here so e-mailing her should get you in touch with todd if he’s not listed in the phone book.

http://www.voiceofsandiego.org/articles/2008/02/02/housing/912mortgage092407.txt

I was fraternity brothers with todd in college, he’s a good dude, I’d give you his info myself or tell you to tell him i sent you but that would blow my cover as an international man of mystery so you gotta get it on your own.

My last question is why is this a shady deal, seems to be priced right at $203 a foot in mira mesa for a circa 1970’s, but if you say that’s a screaming deal that it must be a scam, i’ll take your word for it and offer my condolences, please wait on those at least another year, that thing has 200k written all over it. I found a neighbor house with a 175k 1999 price, I’d say 250k is overpriced.

[temeculaguy]

I’m no pro but I just did it without an agent and have in the past, but to answer your questions, yes and no. Also no on Scenario B.

You can also use a discount agent, one that gets paid by the hour. Some of the realtors that post here will work that way. When you say “area” if you mean you know what tract or what street and which model then you probably only need transaction representation but if you want to look into houses within a school boundary or something, someone is going to have spend time opening up houses with you (they rarely look like they do on the internet when you get there). You can also contact the listing agent and tell them you are going to offer less, factoring in a smaller comission, but they will be representing you, they are just more inclined to lower both sides of the comission since they are getting both.

With regards to scenario B, if a listing expires then the seller is unrealistic because nobody bought it at the listed price, 6% isn’t going to change that. IF you manage to get it for 6% less because you were without agents, you overpaid because if the difference between ask and market was only 6%, then it would have sold already. It’s better to buy expired listing as repos six months later.

[temeculaguy]

I’m no pro but I just did it without an agent and have in the past, but to answer your questions, yes and no. Also no on Scenario B.

You can also use a discount agent, one that gets paid by the hour. Some of the realtors that post here will work that way. When you say “area” if you mean you know what tract or what street and which model then you probably only need transaction representation but if you want to look into houses within a school boundary or something, someone is going to have spend time opening up houses with you (they rarely look like they do on the internet when you get there). You can also contact the listing agent and tell them you are going to offer less, factoring in a smaller comission, but they will be representing you, they are just more inclined to lower both sides of the comission since they are getting both.

With regards to scenario B, if a listing expires then the seller is unrealistic because nobody bought it at the listed price, 6% isn’t going to change that. IF you manage to get it for 6% less because you were without agents, you overpaid because if the difference between ask and market was only 6%, then it would have sold already. It’s better to buy expired listing as repos six months later.

[temeculaguy]

I’m no pro but I just did it without an agent and have in the past, but to answer your questions, yes and no. Also no on Scenario B.

You can also use a discount agent, one that gets paid by the hour. Some of the realtors that post here will work that way. When you say “area” if you mean you know what tract or what street and which model then you probably only need transaction representation but if you want to look into houses within a school boundary or something, someone is going to have spend time opening up houses with you (they rarely look like they do on the internet when you get there). You can also contact the listing agent and tell them you are going to offer less, factoring in a smaller comission, but they will be representing you, they are just more inclined to lower both sides of the comission since they are getting both.

With regards to scenario B, if a listing expires then the seller is unrealistic because nobody bought it at the listed price, 6% isn’t going to change that. IF you manage to get it for 6% less because you were without agents, you overpaid because if the difference between ask and market was only 6%, then it would have sold already. It’s better to buy expired listing as repos six months later.

[temeculaguy]

I’m no pro but I just did it without an agent and have in the past, but to answer your questions, yes and no. Also no on Scenario B.

You can also use a discount agent, one that gets paid by the hour. Some of the realtors that post here will work that way. When you say “area” if you mean you know what tract or what street and which model then you probably only need transaction representation but if you want to look into houses within a school boundary or something, someone is going to have spend time opening up houses with you (they rarely look like they do on the internet when you get there). You can also contact the listing agent and tell them you are going to offer less, factoring in a smaller comission, but they will be representing you, they are just more inclined to lower both sides of the comission since they are getting both.

With regards to scenario B, if a listing expires then the seller is unrealistic because nobody bought it at the listed price, 6% isn’t going to change that. IF you manage to get it for 6% less because you were without agents, you overpaid because if the difference between ask and market was only 6%, then it would have sold already. It’s better to buy expired listing as repos six months later.

[temeculaguy]

I’m no pro but I just did it without an agent and have in the past, but to answer your questions, yes and no. Also no on Scenario B.

You can also use a discount agent, one that gets paid by the hour. Some of the realtors that post here will work that way. When you say “area” if you mean you know what tract or what street and which model then you probably only need transaction representation but if you want to look into houses within a school boundary or something, someone is going to have spend time opening up houses with you (they rarely look like they do on the internet when you get there). You can also contact the listing agent and tell them you are going to offer less, factoring in a smaller comission, but they will be representing you, they are just more inclined to lower both sides of the comission since they are getting both.

With regards to scenario B, if a listing expires then the seller is unrealistic because nobody bought it at the listed price, 6% isn’t going to change that. IF you manage to get it for 6% less because you were without agents, you overpaid because if the difference between ask and market was only 6%, then it would have sold already. It’s better to buy expired listing as repos six months later.

[temeculaguy]

I ran the same numbers and used the same rationale but please don’t apply my purchase to the O.C., you still have a ways to go. Use this formula, when P&I of the full purchase price is equal to or less than rent, then it’s time. P&I on 550k is 3500 at 6.5, you still have a third to go. I use the P&I since tax offset is about equal to the tax and insurance and use the full purchase price for calculation, not the loan after down payment.

Factor in the difference between your rental and your purchase, they may not be equal, figure out what the rent would be if you rented the same house you plan to buy. In my case my P&I based on purchase price is about 1700, 200 more than my rent, but the purchase house is double the size so I had to factor the rent of the house I was purchasing, which was 2000+, since I was under that, I pulled the trigger.

Wait for 350k based on the numbers you quoted, the financial world is falling apart, it will get there.

There is an old saying about the mortgage tax deduction not being the savior some make it out to be. “Paying $1 to the government is still cheaper than paying $3 to the bank.”

[temeculaguy]

I ran the same numbers and used the same rationale but please don’t apply my purchase to the O.C., you still have a ways to go. Use this formula, when P&I of the full purchase price is equal to or less than rent, then it’s time. P&I on 550k is 3500 at 6.5, you still have a third to go. I use the P&I since tax offset is about equal to the tax and insurance and use the full purchase price for calculation, not the loan after down payment.

Factor in the difference between your rental and your purchase, they may not be equal, figure out what the rent would be if you rented the same house you plan to buy. In my case my P&I based on purchase price is about 1700, 200 more than my rent, but the purchase house is double the size so I had to factor the rent of the house I was purchasing, which was 2000+, since I was under that, I pulled the trigger.

Wait for 350k based on the numbers you quoted, the financial world is falling apart, it will get there.

There is an old saying about the mortgage tax deduction not being the savior some make it out to be. “Paying $1 to the government is still cheaper than paying $3 to the bank.”

[temeculaguy]

I ran the same numbers and used the same rationale but please don’t apply my purchase to the O.C., you still have a ways to go. Use this formula, when P&I of the full purchase price is equal to or less than rent, then it’s time. P&I on 550k is 3500 at 6.5, you still have a third to go. I use the P&I since tax offset is about equal to the tax and insurance and use the full purchase price for calculation, not the loan after down payment.

Factor in the difference between your rental and your purchase, they may not be equal, figure out what the rent would be if you rented the same house you plan to buy. In my case my P&I based on purchase price is about 1700, 200 more than my rent, but the purchase house is double the size so I had to factor the rent of the house I was purchasing, which was 2000+, since I was under that, I pulled the trigger.

Wait for 350k based on the numbers you quoted, the financial world is falling apart, it will get there.

There is an old saying about the mortgage tax deduction not being the savior some make it out to be. “Paying $1 to the government is still cheaper than paying $3 to the bank.”

[temeculaguy]

I ran the same numbers and used the same rationale but please don’t apply my purchase to the O.C., you still have a ways to go. Use this formula, when P&I of the full purchase price is equal to or less than rent, then it’s time. P&I on 550k is 3500 at 6.5, you still have a third to go. I use the P&I since tax offset is about equal to the tax and insurance and use the full purchase price for calculation, not the loan after down payment.

Factor in the difference between your rental and your purchase, they may not be equal, figure out what the rent would be if you rented the same house you plan to buy. In my case my P&I based on purchase price is about 1700, 200 more than my rent, but the purchase house is double the size so I had to factor the rent of the house I was purchasing, which was 2000+, since I was under that, I pulled the trigger.

Wait for 350k based on the numbers you quoted, the financial world is falling apart, it will get there.

There is an old saying about the mortgage tax deduction not being the savior some make it out to be. “Paying $1 to the government is still cheaper than paying $3 to the bank.”

[temeculaguy]

I ran the same numbers and used the same rationale but please don’t apply my purchase to the O.C., you still have a ways to go. Use this formula, when P&I of the full purchase price is equal to or less than rent, then it’s time. P&I on 550k is 3500 at 6.5, you still have a third to go. I use the P&I since tax offset is about equal to the tax and insurance and use the full purchase price for calculation, not the loan after down payment.

Factor in the difference between your rental and your purchase, they may not be equal, figure out what the rent would be if you rented the same house you plan to buy. In my case my P&I based on purchase price is about 1700, 200 more than my rent, but the purchase house is double the size so I had to factor the rent of the house I was purchasing, which was 2000+, since I was under that, I pulled the trigger.

Wait for 350k based on the numbers you quoted, the financial world is falling apart, it will get there.

There is an old saying about the mortgage tax deduction not being the savior some make it out to be. “Paying $1 to the government is still cheaper than paying $3 to the bank.”

[temeculaguy]

peter, I didn’t get any preference, I had the highest offer in the first two days, where it helped me was speed, less people involved, fewer schedules to coordinate and no need to deliver or drop anything off. I think using an agent for most people is the way to go but I think the years of investigative work I’ve put into this R/E thing made me smarter than the average bear, plus repos aren’t about negotiations, it’s pure bid and in this valley right now it can be a race as well. If you want to win this race, it’s won in the pits, you need a fast pit crew.

I can say that there were other “near deals” where the listing agent did seemingly grant prefernce but it usually made me feel “icky” and I’m glad I didn’t take that path. I’m also convinced I got screwed early on by using an agent, but this is not a knock to using an agent, I’m a weirdo, I’m obsessive about research, you can name a street in my zip code ad i can tell you the taxes, hoa, value, sq ft, amenities, drawbacks, all off the top of my head. I never found a realtor who could do the same, so I went it alone, I don’t reccomend it for the casual buyer. Just find an agent that isn’t working two jobs and driving kids here and there, they need to be able to move at breakneck speed for you, they need to look at their job as a job, like a fireman or anything else. All too often i found realtors who were in the game because they didn’t like real jobs, they just liked BMW’s and getting their nails done, I’ll chase those types, buy them drinks, but I’m not doing business with them.

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