[temeculaguy]

I can give some details since I am firmly in escrow and loan has nothing that would arise to derail it as far as I can tell.

I didn’t use an agent, I dealt with the listing agent. If you play the repos, an agent is a handicap. It didn’t matter in this case but in a few other failed attempts, the unscrupulous repo only listing agents will bury offers from represented buyers and only forward the ones from themselves or those where they use their friend/partner as the buyer agent since some banks don’t allow for both sides of a transaction. The only reason I lost those previous attempts was that I was outbid by other buyers using the listing agent as well, the represented buyers were irrelevent, their offers are never submitted. I have no proof of this but from my insider friends, that’s the game right now and it only applies to the non national outfits, the kind of fly by night offices that just do repo listings on the cheap. In fact one agent I met was so slimy I didn’t want him to have my social security number. Fortunately for me I found a respectable listing agent and finally won because I acted quickly and didn’t lowball, lowballing only works on houses sitting for 30 days+.

In the case of my purchase, I lucked into it, The realtor was on the up and up so no offer burying was going to happen (the first one I’ve found). I found and tracked it while it was going through the foreclosure process, visited it before a realtor was picked and looked at it the day it was listed, however I was the first one there, within five minutes of it listing and wrote a check within 5 minutes of looking at it. I chose to go a few grand above list as the net offer, the bank only looks at the net offer, so if you have a buyer’s agent, their commission is subtracted from your net, making you easier to beat and if the listing agent gets both ways it’s usually less, making your offer “net” more for the bank. I timed it with the election looming and rain, my offer got to the bank with two others that also came in on day one but I outbid them, it’s best to go with you highest and best out of the gate, some banks don’t want to go back and forth, these guys never countered, just took the highest, turns out it was mine but I didn’t know I had the highest until they accepted. After a couple of days some other offers came in (I think it was 8 more) all were higher than mine but mine had already been accepted, went with e-mail and scanning, had things signed within seconds because I knew it was a steal. While those other 8 people were thinking about it or sceduling a viewing, it sold to me, repos can be like that, sometimes they want them gone and sometimes the rain or an election, buys you a little time before others can see it. The first lesson is to do your homework before it lists and strike fast and furious, hesitation is your enemy. Walking, driving or biking in a neighborhood that you want to live in and looking for the no tresspassing sticker in the window turned out to be the way I did it.

The other piece of advice is the scheduling, if the realtor says they will meet you there tomorrow or the next day, insist they meet you there in ten minutes and let them know you aren’t looking, you are buying and you have a cashiers check in hand. Then insist they write the offer within and hour and submit it immediately, you have maybe 48 hours before the throngs come, you have to beat them. This does not apply to the overpriced ones, just the ones with bidding war start prices. If you see a listing on Monday, it will not be there by the weekend, you are going to need to leave work so you might as well do it on Monday and write the check Monday. As a single guy, I didn’t need to “talk about it” with my spouse or figure out a time to view it, valuable time saved. Also bring a fresh pre approval letter with you.

TemekuT-after careful thought I moved into your hood, after evaluating the general area I wanted, it was the best. e-mail me at [email protected] and I’ll be more specific plus I have a few questions.

Cardiff-very cougar friendly hood

OC-I’ve been following your blog and the resistance to the 2001 movement you espouse, you were actually my price point inspiration and bearvine also contributed. It can be done, it is done all the time, just not in SD or OC with frequency just yet. Your fundamentals are spot, stay with it. My pad is too new to determine price points those years but I shopped and owned in the adjacent community during those years and the ballpark is 1999-2001 using a few neighboring tracts that were there in those years and factoring in a few variables. It’s firmly 2001 and under but 1999-2001 saw huge appreciation here so it gets fuzzy and there were some cheaply built or poor locations of tracts that I chose to exclude, pure ppsf for a zip code can be misleading.

Cashflow, it had slowed down considerably but it’s cranking back up, the holidays is a good time, competition is softer. The repo slowing legislation backfired, things are taking off again.

harry, everyone disagrees with me, no biggie, it’s easier to laugh with me than agree with me.

To everyone else, the well wishing is greatly appreciated and I hope everyone gets what they are looking for, don’t settle! wait for it!

[temeculaguy]

I can give some details since I am firmly in escrow and loan has nothing that would arise to derail it as far as I can tell.

I didn’t use an agent, I dealt with the listing agent. If you play the repos, an agent is a handicap. It didn’t matter in this case but in a few other failed attempts, the unscrupulous repo only listing agents will bury offers from represented buyers and only forward the ones from themselves or those where they use their friend/partner as the buyer agent since some banks don’t allow for both sides of a transaction. The only reason I lost those previous attempts was that I was outbid by other buyers using the listing agent as well, the represented buyers were irrelevent, their offers are never submitted. I have no proof of this but from my insider friends, that’s the game right now and it only applies to the non national outfits, the kind of fly by night offices that just do repo listings on the cheap. In fact one agent I met was so slimy I didn’t want him to have my social security number. Fortunately for me I found a respectable listing agent and finally won because I acted quickly and didn’t lowball, lowballing only works on houses sitting for 30 days+.

In the case of my purchase, I lucked into it, The realtor was on the up and up so no offer burying was going to happen (the first one I’ve found). I found and tracked it while it was going through the foreclosure process, visited it before a realtor was picked and looked at it the day it was listed, however I was the first one there, within five minutes of it listing and wrote a check within 5 minutes of looking at it. I chose to go a few grand above list as the net offer, the bank only looks at the net offer, so if you have a buyer’s agent, their commission is subtracted from your net, making you easier to beat and if the listing agent gets both ways it’s usually less, making your offer “net” more for the bank. I timed it with the election looming and rain, my offer got to the bank with two others that also came in on day one but I outbid them, it’s best to go with you highest and best out of the gate, some banks don’t want to go back and forth, these guys never countered, just took the highest, turns out it was mine but I didn’t know I had the highest until they accepted. After a couple of days some other offers came in (I think it was 8 more) all were higher than mine but mine had already been accepted, went with e-mail and scanning, had things signed within seconds because I knew it was a steal. While those other 8 people were thinking about it or sceduling a viewing, it sold to me, repos can be like that, sometimes they want them gone and sometimes the rain or an election, buys you a little time before others can see it. The first lesson is to do your homework before it lists and strike fast and furious, hesitation is your enemy. Walking, driving or biking in a neighborhood that you want to live in and looking for the no tresspassing sticker in the window turned out to be the way I did it.

The other piece of advice is the scheduling, if the realtor says they will meet you there tomorrow or the next day, insist they meet you there in ten minutes and let them know you aren’t looking, you are buying and you have a cashiers check in hand. Then insist they write the offer within and hour and submit it immediately, you have maybe 48 hours before the throngs come, you have to beat them. This does not apply to the overpriced ones, just the ones with bidding war start prices. If you see a listing on Monday, it will not be there by the weekend, you are going to need to leave work so you might as well do it on Monday and write the check Monday. As a single guy, I didn’t need to “talk about it” with my spouse or figure out a time to view it, valuable time saved. Also bring a fresh pre approval letter with you.

TemekuT-after careful thought I moved into your hood, after evaluating the general area I wanted, it was the best. e-mail me at [email protected] and I’ll be more specific plus I have a few questions.

Cardiff-very cougar friendly hood

OC-I’ve been following your blog and the resistance to the 2001 movement you espouse, you were actually my price point inspiration and bearvine also contributed. It can be done, it is done all the time, just not in SD or OC with frequency just yet. Your fundamentals are spot, stay with it. My pad is too new to determine price points those years but I shopped and owned in the adjacent community during those years and the ballpark is 1999-2001 using a few neighboring tracts that were there in those years and factoring in a few variables. It’s firmly 2001 and under but 1999-2001 saw huge appreciation here so it gets fuzzy and there were some cheaply built or poor locations of tracts that I chose to exclude, pure ppsf for a zip code can be misleading.

Cashflow, it had slowed down considerably but it’s cranking back up, the holidays is a good time, competition is softer. The repo slowing legislation backfired, things are taking off again.

harry, everyone disagrees with me, no biggie, it’s easier to laugh with me than agree with me.

To everyone else, the well wishing is greatly appreciated and I hope everyone gets what they are looking for, don’t settle! wait for it!

[temeculaguy]

I can give some details since I am firmly in escrow and loan has nothing that would arise to derail it as far as I can tell.

I didn’t use an agent, I dealt with the listing agent. If you play the repos, an agent is a handicap. It didn’t matter in this case but in a few other failed attempts, the unscrupulous repo only listing agents will bury offers from represented buyers and only forward the ones from themselves or those where they use their friend/partner as the buyer agent since some banks don’t allow for both sides of a transaction. The only reason I lost those previous attempts was that I was outbid by other buyers using the listing agent as well, the represented buyers were irrelevent, their offers are never submitted. I have no proof of this but from my insider friends, that’s the game right now and it only applies to the non national outfits, the kind of fly by night offices that just do repo listings on the cheap. In fact one agent I met was so slimy I didn’t want him to have my social security number. Fortunately for me I found a respectable listing agent and finally won because I acted quickly and didn’t lowball, lowballing only works on houses sitting for 30 days+.

In the case of my purchase, I lucked into it, The realtor was on the up and up so no offer burying was going to happen (the first one I’ve found). I found and tracked it while it was going through the foreclosure process, visited it before a realtor was picked and looked at it the day it was listed, however I was the first one there, within five minutes of it listing and wrote a check within 5 minutes of looking at it. I chose to go a few grand above list as the net offer, the bank only looks at the net offer, so if you have a buyer’s agent, their commission is subtracted from your net, making you easier to beat and if the listing agent gets both ways it’s usually less, making your offer “net” more for the bank. I timed it with the election looming and rain, my offer got to the bank with two others that also came in on day one but I outbid them, it’s best to go with you highest and best out of the gate, some banks don’t want to go back and forth, these guys never countered, just took the highest, turns out it was mine but I didn’t know I had the highest until they accepted. After a couple of days some other offers came in (I think it was 8 more) all were higher than mine but mine had already been accepted, went with e-mail and scanning, had things signed within seconds because I knew it was a steal. While those other 8 people were thinking about it or sceduling a viewing, it sold to me, repos can be like that, sometimes they want them gone and sometimes the rain or an election, buys you a little time before others can see it. The first lesson is to do your homework before it lists and strike fast and furious, hesitation is your enemy. Walking, driving or biking in a neighborhood that you want to live in and looking for the no tresspassing sticker in the window turned out to be the way I did it.

The other piece of advice is the scheduling, if the realtor says they will meet you there tomorrow or the next day, insist they meet you there in ten minutes and let them know you aren’t looking, you are buying and you have a cashiers check in hand. Then insist they write the offer within and hour and submit it immediately, you have maybe 48 hours before the throngs come, you have to beat them. This does not apply to the overpriced ones, just the ones with bidding war start prices. If you see a listing on Monday, it will not be there by the weekend, you are going to need to leave work so you might as well do it on Monday and write the check Monday. As a single guy, I didn’t need to “talk about it” with my spouse or figure out a time to view it, valuable time saved. Also bring a fresh pre approval letter with you.

TemekuT-after careful thought I moved into your hood, after evaluating the general area I wanted, it was the best. e-mail me at [email protected] and I’ll be more specific plus I have a few questions.

Cardiff-very cougar friendly hood

OC-I’ve been following your blog and the resistance to the 2001 movement you espouse, you were actually my price point inspiration and bearvine also contributed. It can be done, it is done all the time, just not in SD or OC with frequency just yet. Your fundamentals are spot, stay with it. My pad is too new to determine price points those years but I shopped and owned in the adjacent community during those years and the ballpark is 1999-2001 using a few neighboring tracts that were there in those years and factoring in a few variables. It’s firmly 2001 and under but 1999-2001 saw huge appreciation here so it gets fuzzy and there were some cheaply built or poor locations of tracts that I chose to exclude, pure ppsf for a zip code can be misleading.

Cashflow, it had slowed down considerably but it’s cranking back up, the holidays is a good time, competition is softer. The repo slowing legislation backfired, things are taking off again.

harry, everyone disagrees with me, no biggie, it’s easier to laugh with me than agree with me.

To everyone else, the well wishing is greatly appreciated and I hope everyone gets what they are looking for, don’t settle! wait for it!

[temeculaguy]

I can give some details since I am firmly in escrow and loan has nothing that would arise to derail it as far as I can tell.

I didn’t use an agent, I dealt with the listing agent. If you play the repos, an agent is a handicap. It didn’t matter in this case but in a few other failed attempts, the unscrupulous repo only listing agents will bury offers from represented buyers and only forward the ones from themselves or those where they use their friend/partner as the buyer agent since some banks don’t allow for both sides of a transaction. The only reason I lost those previous attempts was that I was outbid by other buyers using the listing agent as well, the represented buyers were irrelevent, their offers are never submitted. I have no proof of this but from my insider friends, that’s the game right now and it only applies to the non national outfits, the kind of fly by night offices that just do repo listings on the cheap. In fact one agent I met was so slimy I didn’t want him to have my social security number. Fortunately for me I found a respectable listing agent and finally won because I acted quickly and didn’t lowball, lowballing only works on houses sitting for 30 days+.

In the case of my purchase, I lucked into it, The realtor was on the up and up so no offer burying was going to happen (the first one I’ve found). I found and tracked it while it was going through the foreclosure process, visited it before a realtor was picked and looked at it the day it was listed, however I was the first one there, within five minutes of it listing and wrote a check within 5 minutes of looking at it. I chose to go a few grand above list as the net offer, the bank only looks at the net offer, so if you have a buyer’s agent, their commission is subtracted from your net, making you easier to beat and if the listing agent gets both ways it’s usually less, making your offer “net” more for the bank. I timed it with the election looming and rain, my offer got to the bank with two others that also came in on day one but I outbid them, it’s best to go with you highest and best out of the gate, some banks don’t want to go back and forth, these guys never countered, just took the highest, turns out it was mine but I didn’t know I had the highest until they accepted. After a couple of days some other offers came in (I think it was 8 more) all were higher than mine but mine had already been accepted, went with e-mail and scanning, had things signed within seconds because I knew it was a steal. While those other 8 people were thinking about it or sceduling a viewing, it sold to me, repos can be like that, sometimes they want them gone and sometimes the rain or an election, buys you a little time before others can see it. The first lesson is to do your homework before it lists and strike fast and furious, hesitation is your enemy. Walking, driving or biking in a neighborhood that you want to live in and looking for the no tresspassing sticker in the window turned out to be the way I did it.

The other piece of advice is the scheduling, if the realtor says they will meet you there tomorrow or the next day, insist they meet you there in ten minutes and let them know you aren’t looking, you are buying and you have a cashiers check in hand. Then insist they write the offer within and hour and submit it immediately, you have maybe 48 hours before the throngs come, you have to beat them. This does not apply to the overpriced ones, just the ones with bidding war start prices. If you see a listing on Monday, it will not be there by the weekend, you are going to need to leave work so you might as well do it on Monday and write the check Monday. As a single guy, I didn’t need to “talk about it” with my spouse or figure out a time to view it, valuable time saved. Also bring a fresh pre approval letter with you.

TemekuT-after careful thought I moved into your hood, after evaluating the general area I wanted, it was the best. e-mail me at [email protected] and I’ll be more specific plus I have a few questions.

Cardiff-very cougar friendly hood

OC-I’ve been following your blog and the resistance to the 2001 movement you espouse, you were actually my price point inspiration and bearvine also contributed. It can be done, it is done all the time, just not in SD or OC with frequency just yet. Your fundamentals are spot, stay with it. My pad is too new to determine price points those years but I shopped and owned in the adjacent community during those years and the ballpark is 1999-2001 using a few neighboring tracts that were there in those years and factoring in a few variables. It’s firmly 2001 and under but 1999-2001 saw huge appreciation here so it gets fuzzy and there were some cheaply built or poor locations of tracts that I chose to exclude, pure ppsf for a zip code can be misleading.

Cashflow, it had slowed down considerably but it’s cranking back up, the holidays is a good time, competition is softer. The repo slowing legislation backfired, things are taking off again.

harry, everyone disagrees with me, no biggie, it’s easier to laugh with me than agree with me.

To everyone else, the well wishing is greatly appreciated and I hope everyone gets what they are looking for, don’t settle! wait for it!

[temeculaguy]

With all this love, I can’t leave. In addition there are so many people here I have come to consider friends that I want to share in their eventual success stories so I will always pop my head in and fire off a comment. The feeling is akin to being a senior in high school and your sibling is a freshman, you are moving out but you plan to come back to watch your kid brother graduate when it is his time and wouldn’t mind offering advice as he runs into the same obstacles you did.

Aecitia, the plan is to keep this as the primary, when it becomes time to expand to rentals, the math works better with the smaller places, Mcmansions are not as effective as rentals (a 100k condo rents for 1k a month while a 300k house rents for 2k), it’s better to pick up three small ones. Plus i have no desire to get a “better” one, it is almost ridiculous that I bought one as large as I did but it was the view that I wanted so I had to take what was on that lot and a smaller one with a crappier view was more expensive so it was more on an opportunity thing and a 3 car garage thing, those damn architects of tract homes always put a 2 car on the small models and a 3 car on the big ones.

I am so glad the election is over and Alan and SD can take the bait on football talk, the only problem is none of us have a horse to back, all our teams are in the crapper. The only highlight of this winter is just as the football season is about to flush on all my beloved teams, the Lakers are hitting the court with the best group I’ve ever seen, their bench is more fun to watch than the starters, Ariza is everywhere and I just added a Jordan Farmar jersey to my christmas list.

[temeculaguy]

With all this love, I can’t leave. In addition there are so many people here I have come to consider friends that I want to share in their eventual success stories so I will always pop my head in and fire off a comment. The feeling is akin to being a senior in high school and your sibling is a freshman, you are moving out but you plan to come back to watch your kid brother graduate when it is his time and wouldn’t mind offering advice as he runs into the same obstacles you did.

Aecitia, the plan is to keep this as the primary, when it becomes time to expand to rentals, the math works better with the smaller places, Mcmansions are not as effective as rentals (a 100k condo rents for 1k a month while a 300k house rents for 2k), it’s better to pick up three small ones. Plus i have no desire to get a “better” one, it is almost ridiculous that I bought one as large as I did but it was the view that I wanted so I had to take what was on that lot and a smaller one with a crappier view was more expensive so it was more on an opportunity thing and a 3 car garage thing, those damn architects of tract homes always put a 2 car on the small models and a 3 car on the big ones.

I am so glad the election is over and Alan and SD can take the bait on football talk, the only problem is none of us have a horse to back, all our teams are in the crapper. The only highlight of this winter is just as the football season is about to flush on all my beloved teams, the Lakers are hitting the court with the best group I’ve ever seen, their bench is more fun to watch than the starters, Ariza is everywhere and I just added a Jordan Farmar jersey to my christmas list.

[temeculaguy]

With all this love, I can’t leave. In addition there are so many people here I have come to consider friends that I want to share in their eventual success stories so I will always pop my head in and fire off a comment. The feeling is akin to being a senior in high school and your sibling is a freshman, you are moving out but you plan to come back to watch your kid brother graduate when it is his time and wouldn’t mind offering advice as he runs into the same obstacles you did.

Aecitia, the plan is to keep this as the primary, when it becomes time to expand to rentals, the math works better with the smaller places, Mcmansions are not as effective as rentals (a 100k condo rents for 1k a month while a 300k house rents for 2k), it’s better to pick up three small ones. Plus i have no desire to get a “better” one, it is almost ridiculous that I bought one as large as I did but it was the view that I wanted so I had to take what was on that lot and a smaller one with a crappier view was more expensive so it was more on an opportunity thing and a 3 car garage thing, those damn architects of tract homes always put a 2 car on the small models and a 3 car on the big ones.

I am so glad the election is over and Alan and SD can take the bait on football talk, the only problem is none of us have a horse to back, all our teams are in the crapper. The only highlight of this winter is just as the football season is about to flush on all my beloved teams, the Lakers are hitting the court with the best group I’ve ever seen, their bench is more fun to watch than the starters, Ariza is everywhere and I just added a Jordan Farmar jersey to my christmas list.

[temeculaguy]

With all this love, I can’t leave. In addition there are so many people here I have come to consider friends that I want to share in their eventual success stories so I will always pop my head in and fire off a comment. The feeling is akin to being a senior in high school and your sibling is a freshman, you are moving out but you plan to come back to watch your kid brother graduate when it is his time and wouldn’t mind offering advice as he runs into the same obstacles you did.

Aecitia, the plan is to keep this as the primary, when it becomes time to expand to rentals, the math works better with the smaller places, Mcmansions are not as effective as rentals (a 100k condo rents for 1k a month while a 300k house rents for 2k), it’s better to pick up three small ones. Plus i have no desire to get a “better” one, it is almost ridiculous that I bought one as large as I did but it was the view that I wanted so I had to take what was on that lot and a smaller one with a crappier view was more expensive so it was more on an opportunity thing and a 3 car garage thing, those damn architects of tract homes always put a 2 car on the small models and a 3 car on the big ones.

I am so glad the election is over and Alan and SD can take the bait on football talk, the only problem is none of us have a horse to back, all our teams are in the crapper. The only highlight of this winter is just as the football season is about to flush on all my beloved teams, the Lakers are hitting the court with the best group I’ve ever seen, their bench is more fun to watch than the starters, Ariza is everywhere and I just added a Jordan Farmar jersey to my christmas list.

[temeculaguy]

With all this love, I can’t leave. In addition there are so many people here I have come to consider friends that I want to share in their eventual success stories so I will always pop my head in and fire off a comment. The feeling is akin to being a senior in high school and your sibling is a freshman, you are moving out but you plan to come back to watch your kid brother graduate when it is his time and wouldn’t mind offering advice as he runs into the same obstacles you did.

Aecitia, the plan is to keep this as the primary, when it becomes time to expand to rentals, the math works better with the smaller places, Mcmansions are not as effective as rentals (a 100k condo rents for 1k a month while a 300k house rents for 2k), it’s better to pick up three small ones. Plus i have no desire to get a “better” one, it is almost ridiculous that I bought one as large as I did but it was the view that I wanted so I had to take what was on that lot and a smaller one with a crappier view was more expensive so it was more on an opportunity thing and a 3 car garage thing, those damn architects of tract homes always put a 2 car on the small models and a 3 car on the big ones.

I am so glad the election is over and Alan and SD can take the bait on football talk, the only problem is none of us have a horse to back, all our teams are in the crapper. The only highlight of this winter is just as the football season is about to flush on all my beloved teams, the Lakers are hitting the court with the best group I’ve ever seen, their bench is more fun to watch than the starters, Ariza is everywhere and I just added a Jordan Farmar jersey to my christmas list.

[temeculaguy]

I won’t vanish completely but I will be spending more of my free time on yardwork and painting. There will be a party, there should be plenty of room since I lack the furnishings at the moment to fill the place. After the coordination of the move I’ll work on the details of the party, still trying to decide if the party is before or after some rennovations. If I paint and and replace the carpet then I’ll be more nervous about a kegger, but if I go with the current configuration it will definately have a “bank owned” motif. I’m thinking pre-rennovation might be better, then if things get broke I won’t even know if they were always that way. The only drawback is the move date might be mid December, always a busy time for people’s social calendar, January might be a better choice. Since we have failed miserably for a year to put together a social event, I’m going to have to do it myself. This is going to be awesome, not only will I be moving in and destroying the neighborhood’s property value with the comp, I’ll throw a bash and piss off any of the remaining neighbors who don’t care. Might as well, no sense changing anything now and it’s not like I can host a Charger’s superbowl party with Norv Turner at the helm.

[temeculaguy]

I won’t vanish completely but I will be spending more of my free time on yardwork and painting. There will be a party, there should be plenty of room since I lack the furnishings at the moment to fill the place. After the coordination of the move I’ll work on the details of the party, still trying to decide if the party is before or after some rennovations. If I paint and and replace the carpet then I’ll be more nervous about a kegger, but if I go with the current configuration it will definately have a “bank owned” motif. I’m thinking pre-rennovation might be better, then if things get broke I won’t even know if they were always that way. The only drawback is the move date might be mid December, always a busy time for people’s social calendar, January might be a better choice. Since we have failed miserably for a year to put together a social event, I’m going to have to do it myself. This is going to be awesome, not only will I be moving in and destroying the neighborhood’s property value with the comp, I’ll throw a bash and piss off any of the remaining neighbors who don’t care. Might as well, no sense changing anything now and it’s not like I can host a Charger’s superbowl party with Norv Turner at the helm.

[temeculaguy]

I won’t vanish completely but I will be spending more of my free time on yardwork and painting. There will be a party, there should be plenty of room since I lack the furnishings at the moment to fill the place. After the coordination of the move I’ll work on the details of the party, still trying to decide if the party is before or after some rennovations. If I paint and and replace the carpet then I’ll be more nervous about a kegger, but if I go with the current configuration it will definately have a “bank owned” motif. I’m thinking pre-rennovation might be better, then if things get broke I won’t even know if they were always that way. The only drawback is the move date might be mid December, always a busy time for people’s social calendar, January might be a better choice. Since we have failed miserably for a year to put together a social event, I’m going to have to do it myself. This is going to be awesome, not only will I be moving in and destroying the neighborhood’s property value with the comp, I’ll throw a bash and piss off any of the remaining neighbors who don’t care. Might as well, no sense changing anything now and it’s not like I can host a Charger’s superbowl party with Norv Turner at the helm.

[temeculaguy]

I won’t vanish completely but I will be spending more of my free time on yardwork and painting. There will be a party, there should be plenty of room since I lack the furnishings at the moment to fill the place. After the coordination of the move I’ll work on the details of the party, still trying to decide if the party is before or after some rennovations. If I paint and and replace the carpet then I’ll be more nervous about a kegger, but if I go with the current configuration it will definately have a “bank owned” motif. I’m thinking pre-rennovation might be better, then if things get broke I won’t even know if they were always that way. The only drawback is the move date might be mid December, always a busy time for people’s social calendar, January might be a better choice. Since we have failed miserably for a year to put together a social event, I’m going to have to do it myself. This is going to be awesome, not only will I be moving in and destroying the neighborhood’s property value with the comp, I’ll throw a bash and piss off any of the remaining neighbors who don’t care. Might as well, no sense changing anything now and it’s not like I can host a Charger’s superbowl party with Norv Turner at the helm.

[temeculaguy]

I won’t vanish completely but I will be spending more of my free time on yardwork and painting. There will be a party, there should be plenty of room since I lack the furnishings at the moment to fill the place. After the coordination of the move I’ll work on the details of the party, still trying to decide if the party is before or after some rennovations. If I paint and and replace the carpet then I’ll be more nervous about a kegger, but if I go with the current configuration it will definately have a “bank owned” motif. I’m thinking pre-rennovation might be better, then if things get broke I won’t even know if they were always that way. The only drawback is the move date might be mid December, always a busy time for people’s social calendar, January might be a better choice. Since we have failed miserably for a year to put together a social event, I’m going to have to do it myself. This is going to be awesome, not only will I be moving in and destroying the neighborhood’s property value with the comp, I’ll throw a bash and piss off any of the remaining neighbors who don’t care. Might as well, no sense changing anything now and it’s not like I can host a Charger’s superbowl party with Norv Turner at the helm.

[temeculaguy]

scardey, you need to evaluate fundamentals, not stories of 1920 or 2006. Just figure out what you pay in rent, what it would cost you to buy and compare the difference after taxes. When they are almost a tie, you buy and you trade off the maintenance for the rent control. Primary houses are not an investment, look at it as a shelter that you must pay for one way or another.

I put in a bid recently and will find out probably by the close of business tomorrow if I am in escrow. My scenario is a little different because i am renting something smaller than I want because the lease terms were beneficial but I just ran the numbers to compare. Here they are

1600 sq ft rental 1500/mo 3/2/ 2 car
the purchase offer I made is 3000 sq ft 5/4/3 car 1600 mo P%I to buy if I put nothing down (i will put money down but that money costs me profit/interest elsewhere so I use 0 down to do the math). It may be as high as 1750, interest rates have been all over the map day to day.

There will be taxes, insurance, hoa and other costs but they are equal to the tax deduction so I compare the pure 0 down principal and interest using 30 fixed and make my comparison. It isn’t exactly a wash, i’m paying $100 to $200 more to buy but it is much larger place and rent would have been 2k+ for that one had I chose to rent a larger place. I could buy my exact rental for $1100 P&I. In both cases, it’s cheaper to buy than to rent. You need to run your numbers, that is what is relevent, not historical or other parts of the country, none of that matter, just your numbers matter.

Run your own numbers using this formula or post your rent and your purchse price and I’ll tell you if it makes sense, please note if your rental and your purchse are not comparable because that matters. Stop thinking of houses as an investment, purchasing merely locks your rent, nothing more. If you want to invest in r/e, then you buy rental property.

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