[temeculaguy]

Not one in my zip code. You can bookmark a page in redfin that will just list new listings and reduced listings

http://www.redfin.com/zipcode/92592

just put whatever zipcode you want at the end and you can pick the newest listing tab or reduced listing tab, a ritual I do every day. Today had four reductions, which is normal, yet none were coldwell listings.

[temeculaguy]

Not one in my zip code. You can bookmark a page in redfin that will just list new listings and reduced listings

http://www.redfin.com/zipcode/92592

just put whatever zipcode you want at the end and you can pick the newest listing tab or reduced listing tab, a ritual I do every day. Today had four reductions, which is normal, yet none were coldwell listings.

[temeculaguy]

Not one in my zip code. You can bookmark a page in redfin that will just list new listings and reduced listings

http://www.redfin.com/zipcode/92592

just put whatever zipcode you want at the end and you can pick the newest listing tab or reduced listing tab, a ritual I do every day. Today had four reductions, which is normal, yet none were coldwell listings.

[temeculaguy]

Not one in my zip code. You can bookmark a page in redfin that will just list new listings and reduced listings

http://www.redfin.com/zipcode/92592

just put whatever zipcode you want at the end and you can pick the newest listing tab or reduced listing tab, a ritual I do every day. Today had four reductions, which is normal, yet none were coldwell listings.

[temeculaguy]

I figured that one would fail even before prices declined. Those were condos for 55+ asking sfr prices because it was walking distance to the future hospital, grocery and drug store. It was bad marketing but would work well as rentals. The demographic that wants to be within walking distance to a hospital, food and prescriptions and is over 55 is, unfortunately, is someone with a serious medical condition or one foot in the grave. The age restrictions prohibits many of the employees at a 24 hr trauma center that might like the convenience of walking to work and the amount of time that someone is able to walk and doesn’t need a skilled nursing facility but needs to be close to those things is not long enough to warrant buying. That place would have been better off as rentals, my guess is that an investor will buy it and make it rentals since it’s target demographic is transitionary.

With the NIMBY’s and the unions holding up groundbreaking of the hospital, the appeal of the adjacent housing just isn’t there yet.

[temeculaguy]

I figured that one would fail even before prices declined. Those were condos for 55+ asking sfr prices because it was walking distance to the future hospital, grocery and drug store. It was bad marketing but would work well as rentals. The demographic that wants to be within walking distance to a hospital, food and prescriptions and is over 55 is, unfortunately, is someone with a serious medical condition or one foot in the grave. The age restrictions prohibits many of the employees at a 24 hr trauma center that might like the convenience of walking to work and the amount of time that someone is able to walk and doesn’t need a skilled nursing facility but needs to be close to those things is not long enough to warrant buying. That place would have been better off as rentals, my guess is that an investor will buy it and make it rentals since it’s target demographic is transitionary.

With the NIMBY’s and the unions holding up groundbreaking of the hospital, the appeal of the adjacent housing just isn’t there yet.

[temeculaguy]

I figured that one would fail even before prices declined. Those were condos for 55+ asking sfr prices because it was walking distance to the future hospital, grocery and drug store. It was bad marketing but would work well as rentals. The demographic that wants to be within walking distance to a hospital, food and prescriptions and is over 55 is, unfortunately, is someone with a serious medical condition or one foot in the grave. The age restrictions prohibits many of the employees at a 24 hr trauma center that might like the convenience of walking to work and the amount of time that someone is able to walk and doesn’t need a skilled nursing facility but needs to be close to those things is not long enough to warrant buying. That place would have been better off as rentals, my guess is that an investor will buy it and make it rentals since it’s target demographic is transitionary.

With the NIMBY’s and the unions holding up groundbreaking of the hospital, the appeal of the adjacent housing just isn’t there yet.

[temeculaguy]

I figured that one would fail even before prices declined. Those were condos for 55+ asking sfr prices because it was walking distance to the future hospital, grocery and drug store. It was bad marketing but would work well as rentals. The demographic that wants to be within walking distance to a hospital, food and prescriptions and is over 55 is, unfortunately, is someone with a serious medical condition or one foot in the grave. The age restrictions prohibits many of the employees at a 24 hr trauma center that might like the convenience of walking to work and the amount of time that someone is able to walk and doesn’t need a skilled nursing facility but needs to be close to those things is not long enough to warrant buying. That place would have been better off as rentals, my guess is that an investor will buy it and make it rentals since it’s target demographic is transitionary.

With the NIMBY’s and the unions holding up groundbreaking of the hospital, the appeal of the adjacent housing just isn’t there yet.

[temeculaguy]

I figured that one would fail even before prices declined. Those were condos for 55+ asking sfr prices because it was walking distance to the future hospital, grocery and drug store. It was bad marketing but would work well as rentals. The demographic that wants to be within walking distance to a hospital, food and prescriptions and is over 55 is, unfortunately, is someone with a serious medical condition or one foot in the grave. The age restrictions prohibits many of the employees at a 24 hr trauma center that might like the convenience of walking to work and the amount of time that someone is able to walk and doesn’t need a skilled nursing facility but needs to be close to those things is not long enough to warrant buying. That place would have been better off as rentals, my guess is that an investor will buy it and make it rentals since it’s target demographic is transitionary.

With the NIMBY’s and the unions holding up groundbreaking of the hospital, the appeal of the adjacent housing just isn’t there yet.

[temeculaguy]

I am not really participating in the politics, but I can explain what he was saying. The details are too complicated for the masses. I don’t like either guy, so politics aside, his statement was missing details, key details. Maybe because it was too complicated to explain, maybe he wanted fb’s to think they were getting a free ride.

FDIC writedowns, FHA secure, Fannie and freddie writedowns all follow a general theme and the largest misconception is that nothing is actually forgiven, rather it is suspended. Eating a few hundred grand per house is too expensive to help more than a few people. Eating the interest on a portion of the principal allows them to “help” more people, many more, a few hundred more, with the same dollars.

Wilbur Ross has proposed a three way arrangement with a private company, but the current gov’t stuff is a two way deal.

I’ve posted before that when you look at how the write down works, it is actually far worse for the fb than walking away, but they do get to have a roof over their head and they get to pay about 50% more than rent without ever building equity. When the market recovers or when they sell, whatever was “re-worked” has to be paid back and no refi or helocs can ever be taken until the rework has been paid. When you look at it, it is nothing more than a long term teaser rate, in fact it’s worse, but they think it will buy enough years for the recovery.

scenario: fb buys for 500k, 0 down. Today house is worth 300k. fb cant pay his fully amortized payment with impounds of 4k. rework takes .38 of his/her gross, figures what portion of the fully amortized that would cover, lets say 7k gross per month as $2500 a month and that is the new payment. That equates to paying on 300k, the value of the home. 200k is suspended and does not accrue interest (that interest is the cost to the gov or bank). When the market rebounds in 5 years and it sell or refi’s at 500k, fb gets nothing, bank or gov gets the whole 500. If it goes to 600k, bank gets half the profit to offset the loss of interest and fb gets 50k.

FB gets to deduct the 2500 like any homeowner would, but they are really just a renter and need to gain more than 200k in value before actually making anything and even then they only get half.

Their neighbor buys for 300k this week and when fb sells at 600k in the future and enjoys his 50k, the neighbor gets 300k. This is why only 1 in 8 that are eligible are taking advantage of this “help.”

If I may quote a great twilight zone episode (to serve mankind) “It’s a cookbook.”

[temeculaguy]

I am not really participating in the politics, but I can explain what he was saying. The details are too complicated for the masses. I don’t like either guy, so politics aside, his statement was missing details, key details. Maybe because it was too complicated to explain, maybe he wanted fb’s to think they were getting a free ride.

FDIC writedowns, FHA secure, Fannie and freddie writedowns all follow a general theme and the largest misconception is that nothing is actually forgiven, rather it is suspended. Eating a few hundred grand per house is too expensive to help more than a few people. Eating the interest on a portion of the principal allows them to “help” more people, many more, a few hundred more, with the same dollars.

Wilbur Ross has proposed a three way arrangement with a private company, but the current gov’t stuff is a two way deal.

I’ve posted before that when you look at how the write down works, it is actually far worse for the fb than walking away, but they do get to have a roof over their head and they get to pay about 50% more than rent without ever building equity. When the market recovers or when they sell, whatever was “re-worked” has to be paid back and no refi or helocs can ever be taken until the rework has been paid. When you look at it, it is nothing more than a long term teaser rate, in fact it’s worse, but they think it will buy enough years for the recovery.

scenario: fb buys for 500k, 0 down. Today house is worth 300k. fb cant pay his fully amortized payment with impounds of 4k. rework takes .38 of his/her gross, figures what portion of the fully amortized that would cover, lets say 7k gross per month as $2500 a month and that is the new payment. That equates to paying on 300k, the value of the home. 200k is suspended and does not accrue interest (that interest is the cost to the gov or bank). When the market rebounds in 5 years and it sell or refi’s at 500k, fb gets nothing, bank or gov gets the whole 500. If it goes to 600k, bank gets half the profit to offset the loss of interest and fb gets 50k.

FB gets to deduct the 2500 like any homeowner would, but they are really just a renter and need to gain more than 200k in value before actually making anything and even then they only get half.

Their neighbor buys for 300k this week and when fb sells at 600k in the future and enjoys his 50k, the neighbor gets 300k. This is why only 1 in 8 that are eligible are taking advantage of this “help.”

If I may quote a great twilight zone episode (to serve mankind) “It’s a cookbook.”

[temeculaguy]

I am not really participating in the politics, but I can explain what he was saying. The details are too complicated for the masses. I don’t like either guy, so politics aside, his statement was missing details, key details. Maybe because it was too complicated to explain, maybe he wanted fb’s to think they were getting a free ride.

FDIC writedowns, FHA secure, Fannie and freddie writedowns all follow a general theme and the largest misconception is that nothing is actually forgiven, rather it is suspended. Eating a few hundred grand per house is too expensive to help more than a few people. Eating the interest on a portion of the principal allows them to “help” more people, many more, a few hundred more, with the same dollars.

Wilbur Ross has proposed a three way arrangement with a private company, but the current gov’t stuff is a two way deal.

I’ve posted before that when you look at how the write down works, it is actually far worse for the fb than walking away, but they do get to have a roof over their head and they get to pay about 50% more than rent without ever building equity. When the market recovers or when they sell, whatever was “re-worked” has to be paid back and no refi or helocs can ever be taken until the rework has been paid. When you look at it, it is nothing more than a long term teaser rate, in fact it’s worse, but they think it will buy enough years for the recovery.

scenario: fb buys for 500k, 0 down. Today house is worth 300k. fb cant pay his fully amortized payment with impounds of 4k. rework takes .38 of his/her gross, figures what portion of the fully amortized that would cover, lets say 7k gross per month as $2500 a month and that is the new payment. That equates to paying on 300k, the value of the home. 200k is suspended and does not accrue interest (that interest is the cost to the gov or bank). When the market rebounds in 5 years and it sell or refi’s at 500k, fb gets nothing, bank or gov gets the whole 500. If it goes to 600k, bank gets half the profit to offset the loss of interest and fb gets 50k.

FB gets to deduct the 2500 like any homeowner would, but they are really just a renter and need to gain more than 200k in value before actually making anything and even then they only get half.

Their neighbor buys for 300k this week and when fb sells at 600k in the future and enjoys his 50k, the neighbor gets 300k. This is why only 1 in 8 that are eligible are taking advantage of this “help.”

If I may quote a great twilight zone episode (to serve mankind) “It’s a cookbook.”

[temeculaguy]

I am not really participating in the politics, but I can explain what he was saying. The details are too complicated for the masses. I don’t like either guy, so politics aside, his statement was missing details, key details. Maybe because it was too complicated to explain, maybe he wanted fb’s to think they were getting a free ride.

FDIC writedowns, FHA secure, Fannie and freddie writedowns all follow a general theme and the largest misconception is that nothing is actually forgiven, rather it is suspended. Eating a few hundred grand per house is too expensive to help more than a few people. Eating the interest on a portion of the principal allows them to “help” more people, many more, a few hundred more, with the same dollars.

Wilbur Ross has proposed a three way arrangement with a private company, but the current gov’t stuff is a two way deal.

I’ve posted before that when you look at how the write down works, it is actually far worse for the fb than walking away, but they do get to have a roof over their head and they get to pay about 50% more than rent without ever building equity. When the market recovers or when they sell, whatever was “re-worked” has to be paid back and no refi or helocs can ever be taken until the rework has been paid. When you look at it, it is nothing more than a long term teaser rate, in fact it’s worse, but they think it will buy enough years for the recovery.

scenario: fb buys for 500k, 0 down. Today house is worth 300k. fb cant pay his fully amortized payment with impounds of 4k. rework takes .38 of his/her gross, figures what portion of the fully amortized that would cover, lets say 7k gross per month as $2500 a month and that is the new payment. That equates to paying on 300k, the value of the home. 200k is suspended and does not accrue interest (that interest is the cost to the gov or bank). When the market rebounds in 5 years and it sell or refi’s at 500k, fb gets nothing, bank or gov gets the whole 500. If it goes to 600k, bank gets half the profit to offset the loss of interest and fb gets 50k.

FB gets to deduct the 2500 like any homeowner would, but they are really just a renter and need to gain more than 200k in value before actually making anything and even then they only get half.

Their neighbor buys for 300k this week and when fb sells at 600k in the future and enjoys his 50k, the neighbor gets 300k. This is why only 1 in 8 that are eligible are taking advantage of this “help.”

If I may quote a great twilight zone episode (to serve mankind) “It’s a cookbook.”

[temeculaguy]

I am not really participating in the politics, but I can explain what he was saying. The details are too complicated for the masses. I don’t like either guy, so politics aside, his statement was missing details, key details. Maybe because it was too complicated to explain, maybe he wanted fb’s to think they were getting a free ride.

FDIC writedowns, FHA secure, Fannie and freddie writedowns all follow a general theme and the largest misconception is that nothing is actually forgiven, rather it is suspended. Eating a few hundred grand per house is too expensive to help more than a few people. Eating the interest on a portion of the principal allows them to “help” more people, many more, a few hundred more, with the same dollars.

Wilbur Ross has proposed a three way arrangement with a private company, but the current gov’t stuff is a two way deal.

I’ve posted before that when you look at how the write down works, it is actually far worse for the fb than walking away, but they do get to have a roof over their head and they get to pay about 50% more than rent without ever building equity. When the market recovers or when they sell, whatever was “re-worked” has to be paid back and no refi or helocs can ever be taken until the rework has been paid. When you look at it, it is nothing more than a long term teaser rate, in fact it’s worse, but they think it will buy enough years for the recovery.

scenario: fb buys for 500k, 0 down. Today house is worth 300k. fb cant pay his fully amortized payment with impounds of 4k. rework takes .38 of his/her gross, figures what portion of the fully amortized that would cover, lets say 7k gross per month as $2500 a month and that is the new payment. That equates to paying on 300k, the value of the home. 200k is suspended and does not accrue interest (that interest is the cost to the gov or bank). When the market rebounds in 5 years and it sell or refi’s at 500k, fb gets nothing, bank or gov gets the whole 500. If it goes to 600k, bank gets half the profit to offset the loss of interest and fb gets 50k.

FB gets to deduct the 2500 like any homeowner would, but they are really just a renter and need to gain more than 200k in value before actually making anything and even then they only get half.

Their neighbor buys for 300k this week and when fb sells at 600k in the future and enjoys his 50k, the neighbor gets 300k. This is why only 1 in 8 that are eligible are taking advantage of this “help.”

If I may quote a great twilight zone episode (to serve mankind) “It’s a cookbook.”

[temeculaguy]

tle, if you can get in the 2’s or even low 3’s out there, just do it, the million plus stuff has been taking a beating but horse property is very unique, I have so little experience I can barely give advice other than getting land for tract prices, that is a go in my book.

Patent-Redhawk in general is open to the public as is the golf course, there are a few gated tracts within redhawk but most is open. I have to say, with what you are looking for, bear creek might be a beeter choice, or even canyon lake. Maybe just go to San Diego itself, say carlsbad or something. 400k for 1200-1500 sq ft. is not why you come to temecula, I honestly cant think of anything that fits that bill. Smaller places are often not as nice and old bones usually means large lot out here. This is my favorite weekender house in redhawk http://www.redfin.com/CA/Temecula/45443-Callesito-Altar-92592/home/6253916 and you can walk to the bar.

For a low maintenance, smaller, weekend place, I reccomend this tract of triplexes.

http://www.redfin.com/CA/Temecula/33599-Winston-Way-92592/unit-B/home/12509159

but not that unit, get one that overlooks the creek, all you can hear is frogs, and get one with a driveway, most have a two car driveway and a 2 car garage, the one I linked doesn’t have a driveway. They have a high hoa but a low tax rate so it balances out, they take care of the yardwork and it is within redhawk, will only set you back 200k and will rent easily for 1500 if you go that route ever. Most occupants are 40-60 but there are no rules about age, it just doesn’t appeal to the monster truck crowd. It is also gated.

This one went pending for 177k, but not the best location within the complex.

http://www.redfin.com/CA/Temecula/41260-Ashton-Cir-92592/unit-B/home/12264528

If you really want to spend 400k cash, buy 2 and rent one out.

[Author]

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