[temeculaguy]

Mello Roos or assessments aren’t the fault of the local government, it is the builder tricking you. Two developments, side by side. Developer A pays for the streets, sidewalks, landscaping and parks, then builds that into the price. Developer B decides to finance all that stuff and have the buyers pay off the loan in a mello roos bond but then can advertise a lower price or have larger profits. So if you paid more for your house in devlopment A to not have mello roos, if there is a baolout for those with mello roos then it is exactly the same as bailing out the subprimes, helping those who made bad choices and punishing those who were prudent. Mello Roos are not demanded by the government, it’s the developer that chooses to set it up, they are more than allowed to pay cash for the infrastructure, they just choose not to sometimes. Personally I’ve owned a number of new homes and have never had one with mello roos, it can be done, it just costs a little more.

[temeculaguy]

Mello Roos or assessments aren’t the fault of the local government, it is the builder tricking you. Two developments, side by side. Developer A pays for the streets, sidewalks, landscaping and parks, then builds that into the price. Developer B decides to finance all that stuff and have the buyers pay off the loan in a mello roos bond but then can advertise a lower price or have larger profits. So if you paid more for your house in devlopment A to not have mello roos, if there is a baolout for those with mello roos then it is exactly the same as bailing out the subprimes, helping those who made bad choices and punishing those who were prudent. Mello Roos are not demanded by the government, it’s the developer that chooses to set it up, they are more than allowed to pay cash for the infrastructure, they just choose not to sometimes. Personally I’ve owned a number of new homes and have never had one with mello roos, it can be done, it just costs a little more.

[temeculaguy]

Mello Roos or assessments aren’t the fault of the local government, it is the builder tricking you. Two developments, side by side. Developer A pays for the streets, sidewalks, landscaping and parks, then builds that into the price. Developer B decides to finance all that stuff and have the buyers pay off the loan in a mello roos bond but then can advertise a lower price or have larger profits. So if you paid more for your house in devlopment A to not have mello roos, if there is a baolout for those with mello roos then it is exactly the same as bailing out the subprimes, helping those who made bad choices and punishing those who were prudent. Mello Roos are not demanded by the government, it’s the developer that chooses to set it up, they are more than allowed to pay cash for the infrastructure, they just choose not to sometimes. Personally I’ve owned a number of new homes and have never had one with mello roos, it can be done, it just costs a little more.

[temeculaguy]

Mello Roos or assessments aren’t the fault of the local government, it is the builder tricking you. Two developments, side by side. Developer A pays for the streets, sidewalks, landscaping and parks, then builds that into the price. Developer B decides to finance all that stuff and have the buyers pay off the loan in a mello roos bond but then can advertise a lower price or have larger profits. So if you paid more for your house in devlopment A to not have mello roos, if there is a baolout for those with mello roos then it is exactly the same as bailing out the subprimes, helping those who made bad choices and punishing those who were prudent. Mello Roos are not demanded by the government, it’s the developer that chooses to set it up, they are more than allowed to pay cash for the infrastructure, they just choose not to sometimes. Personally I’ve owned a number of new homes and have never had one with mello roos, it can be done, it just costs a little more.

[temeculaguy]

Mello Roos or assessments aren’t the fault of the local government, it is the builder tricking you. Two developments, side by side. Developer A pays for the streets, sidewalks, landscaping and parks, then builds that into the price. Developer B decides to finance all that stuff and have the buyers pay off the loan in a mello roos bond but then can advertise a lower price or have larger profits. So if you paid more for your house in devlopment A to not have mello roos, if there is a baolout for those with mello roos then it is exactly the same as bailing out the subprimes, helping those who made bad choices and punishing those who were prudent. Mello Roos are not demanded by the government, it’s the developer that chooses to set it up, they are more than allowed to pay cash for the infrastructure, they just choose not to sometimes. Personally I’ve owned a number of new homes and have never had one with mello roos, it can be done, it just costs a little more.

[temeculaguy]

4plex, My error, It doesn’t say either way. I picked that one because it was the lowest price per square of the three I was debating about posting, but they were all huge drops. The other two clearly stated bank owned and now I realize that this one doesn’t say. While you can’t trust zillow/redfin sale history, the fact that they show it didn’t change hands recently probably means it isnt a repo.

As pizzaman mentioned, we are seeing chunks taken off by banks and builders, the race to the bottom has begun. Will it close for 329K, if it’s not a short it will close under that. If I didn’t hate that lot I’d load my lowball cannon and fire off a 275k offer. Pizza you are right, the screaming 20-30% off deals that pop up for a few days are actually selling. Perhaps the rest will realize that huge price drops actually work.

The whole situation feels like the battle scene in a war movie where the men can see the enemy charge but are being told to hold their fire until they can see the whites of their eyes, for some reason, right now it feels like we can see the charge we just need to wait for the right shot.

[temeculaguy]

4plex, My error, It doesn’t say either way. I picked that one because it was the lowest price per square of the three I was debating about posting, but they were all huge drops. The other two clearly stated bank owned and now I realize that this one doesn’t say. While you can’t trust zillow/redfin sale history, the fact that they show it didn’t change hands recently probably means it isnt a repo.

As pizzaman mentioned, we are seeing chunks taken off by banks and builders, the race to the bottom has begun. Will it close for 329K, if it’s not a short it will close under that. If I didn’t hate that lot I’d load my lowball cannon and fire off a 275k offer. Pizza you are right, the screaming 20-30% off deals that pop up for a few days are actually selling. Perhaps the rest will realize that huge price drops actually work.

The whole situation feels like the battle scene in a war movie where the men can see the enemy charge but are being told to hold their fire until they can see the whites of their eyes, for some reason, right now it feels like we can see the charge we just need to wait for the right shot.

[temeculaguy]

4plex, My error, It doesn’t say either way. I picked that one because it was the lowest price per square of the three I was debating about posting, but they were all huge drops. The other two clearly stated bank owned and now I realize that this one doesn’t say. While you can’t trust zillow/redfin sale history, the fact that they show it didn’t change hands recently probably means it isnt a repo.

As pizzaman mentioned, we are seeing chunks taken off by banks and builders, the race to the bottom has begun. Will it close for 329K, if it’s not a short it will close under that. If I didn’t hate that lot I’d load my lowball cannon and fire off a 275k offer. Pizza you are right, the screaming 20-30% off deals that pop up for a few days are actually selling. Perhaps the rest will realize that huge price drops actually work.

The whole situation feels like the battle scene in a war movie where the men can see the enemy charge but are being told to hold their fire until they can see the whites of their eyes, for some reason, right now it feels like we can see the charge we just need to wait for the right shot.

[temeculaguy]

4plex, My error, It doesn’t say either way. I picked that one because it was the lowest price per square of the three I was debating about posting, but they were all huge drops. The other two clearly stated bank owned and now I realize that this one doesn’t say. While you can’t trust zillow/redfin sale history, the fact that they show it didn’t change hands recently probably means it isnt a repo.

As pizzaman mentioned, we are seeing chunks taken off by banks and builders, the race to the bottom has begun. Will it close for 329K, if it’s not a short it will close under that. If I didn’t hate that lot I’d load my lowball cannon and fire off a 275k offer. Pizza you are right, the screaming 20-30% off deals that pop up for a few days are actually selling. Perhaps the rest will realize that huge price drops actually work.

The whole situation feels like the battle scene in a war movie where the men can see the enemy charge but are being told to hold their fire until they can see the whites of their eyes, for some reason, right now it feels like we can see the charge we just need to wait for the right shot.

[temeculaguy]

4plex, My error, It doesn’t say either way. I picked that one because it was the lowest price per square of the three I was debating about posting, but they were all huge drops. The other two clearly stated bank owned and now I realize that this one doesn’t say. While you can’t trust zillow/redfin sale history, the fact that they show it didn’t change hands recently probably means it isnt a repo.

As pizzaman mentioned, we are seeing chunks taken off by banks and builders, the race to the bottom has begun. Will it close for 329K, if it’s not a short it will close under that. If I didn’t hate that lot I’d load my lowball cannon and fire off a 275k offer. Pizza you are right, the screaming 20-30% off deals that pop up for a few days are actually selling. Perhaps the rest will realize that huge price drops actually work.

The whole situation feels like the battle scene in a war movie where the men can see the enemy charge but are being told to hold their fire until they can see the whites of their eyes, for some reason, right now it feels like we can see the charge we just need to wait for the right shot.

[temeculaguy]

HLS is a straight shooter finance guy, I haven’t seen him on the boards lately but he has a website, homeloansheldon.com

I’m not pimping him but I bet he can give you an honest answer about your finance plan, he’s given free advice to me via e-mail and on the boards for a while. Also, 10% down and good credit isn’t going to get the panties of the lenders any more, is your income to expense ratio in good shape?

[temeculaguy]

HLS is a straight shooter finance guy, I haven’t seen him on the boards lately but he has a website, homeloansheldon.com

I’m not pimping him but I bet he can give you an honest answer about your finance plan, he’s given free advice to me via e-mail and on the boards for a while. Also, 10% down and good credit isn’t going to get the panties of the lenders any more, is your income to expense ratio in good shape?

[temeculaguy]

HLS is a straight shooter finance guy, I haven’t seen him on the boards lately but he has a website, homeloansheldon.com

I’m not pimping him but I bet he can give you an honest answer about your finance plan, he’s given free advice to me via e-mail and on the boards for a while. Also, 10% down and good credit isn’t going to get the panties of the lenders any more, is your income to expense ratio in good shape?

[temeculaguy]

HLS is a straight shooter finance guy, I haven’t seen him on the boards lately but he has a website, homeloansheldon.com

I’m not pimping him but I bet he can give you an honest answer about your finance plan, he’s given free advice to me via e-mail and on the boards for a while. Also, 10% down and good credit isn’t going to get the panties of the lenders any more, is your income to expense ratio in good shape?

[temeculaguy]

HLS is a straight shooter finance guy, I haven’t seen him on the boards lately but he has a website, homeloansheldon.com

I’m not pimping him but I bet he can give you an honest answer about your finance plan, he’s given free advice to me via e-mail and on the boards for a while. Also, 10% down and good credit isn’t going to get the panties of the lenders any more, is your income to expense ratio in good shape?

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