[UCGal]

[quote=threadkiller]I keep hearing this, but exactly which “agencies” are we talking about here? The same ones that got bailed out or overseas agencies?[/quote]
They’re talking about the big 3 credit agencies: Moody’s, S&P, and Fitch. They’re pretty international… They rate everyone’s debt – Japan, Greece, the US…

Not sure about their bailout status – but they were integral in the whole MBS toxic tranches fiasco… so they have some credibility issues. But they still are the only game in town short of doing your own analysis of credit worthiness.

That said… I heard an interview with Bill Gross of Pimco last night on NPR – He said Japan was downgraded by these agencies in 2002, and it didn’t have a big effect on their abilty to get credit. In the current case – as long as we still pay our bills (interest) people will still buy treasuries. A rise in interest rates on treasuries might actually cause folks like Pimco to start buying treasuries again.

[UCGal]

[quote=threadkiller]I keep hearing this, but exactly which “agencies” are we talking about here? The same ones that got bailed out or overseas agencies?[/quote]
They’re talking about the big 3 credit agencies: Moody’s, S&P, and Fitch. They’re pretty international… They rate everyone’s debt – Japan, Greece, the US…

Not sure about their bailout status – but they were integral in the whole MBS toxic tranches fiasco… so they have some credibility issues. But they still are the only game in town short of doing your own analysis of credit worthiness.

That said… I heard an interview with Bill Gross of Pimco last night on NPR – He said Japan was downgraded by these agencies in 2002, and it didn’t have a big effect on their abilty to get credit. In the current case – as long as we still pay our bills (interest) people will still buy treasuries. A rise in interest rates on treasuries might actually cause folks like Pimco to start buying treasuries again.

[UCGal]

[quote=threadkiller]I keep hearing this, but exactly which “agencies” are we talking about here? The same ones that got bailed out or overseas agencies?[/quote]
They’re talking about the big 3 credit agencies: Moody’s, S&P, and Fitch. They’re pretty international… They rate everyone’s debt – Japan, Greece, the US…

Not sure about their bailout status – but they were integral in the whole MBS toxic tranches fiasco… so they have some credibility issues. But they still are the only game in town short of doing your own analysis of credit worthiness.

That said… I heard an interview with Bill Gross of Pimco last night on NPR – He said Japan was downgraded by these agencies in 2002, and it didn’t have a big effect on their abilty to get credit. In the current case – as long as we still pay our bills (interest) people will still buy treasuries. A rise in interest rates on treasuries might actually cause folks like Pimco to start buying treasuries again.

[UCGal]

It will be more expensive to develop a hillside property – our granny flat was hillside development.

They buyer will probably need separate permits for:
*civil engineering (drainage and grading)
* structural (retaining walls).
This is in addition to the regular building permit.

Our project had 3 separate permits, 2 different city inspector departments (building services and city engineering), 3 different engineers (structural for the building, structural for the retaining walls, civil for the grading plan.).

And if there are deep footings for the retaining walls – better make sure your grader is OSHA certified. That limits your pool of grading contractors.

Add about $100k to the project before you even consider the building portion of the project.

[UCGal]

It will be more expensive to develop a hillside property – our granny flat was hillside development.

They buyer will probably need separate permits for:
*civil engineering (drainage and grading)
* structural (retaining walls).
This is in addition to the regular building permit.

Our project had 3 separate permits, 2 different city inspector departments (building services and city engineering), 3 different engineers (structural for the building, structural for the retaining walls, civil for the grading plan.).

And if there are deep footings for the retaining walls – better make sure your grader is OSHA certified. That limits your pool of grading contractors.

Add about $100k to the project before you even consider the building portion of the project.

[UCGal]

It will be more expensive to develop a hillside property – our granny flat was hillside development.

They buyer will probably need separate permits for:
*civil engineering (drainage and grading)
* structural (retaining walls).
This is in addition to the regular building permit.

Our project had 3 separate permits, 2 different city inspector departments (building services and city engineering), 3 different engineers (structural for the building, structural for the retaining walls, civil for the grading plan.).

And if there are deep footings for the retaining walls – better make sure your grader is OSHA certified. That limits your pool of grading contractors.

Add about $100k to the project before you even consider the building portion of the project.

[UCGal]

It will be more expensive to develop a hillside property – our granny flat was hillside development.

They buyer will probably need separate permits for:
*civil engineering (drainage and grading)
* structural (retaining walls).
This is in addition to the regular building permit.

Our project had 3 separate permits, 2 different city inspector departments (building services and city engineering), 3 different engineers (structural for the building, structural for the retaining walls, civil for the grading plan.).

And if there are deep footings for the retaining walls – better make sure your grader is OSHA certified. That limits your pool of grading contractors.

Add about $100k to the project before you even consider the building portion of the project.

[UCGal]

It will be more expensive to develop a hillside property – our granny flat was hillside development.

They buyer will probably need separate permits for:
*civil engineering (drainage and grading)
* structural (retaining walls).
This is in addition to the regular building permit.

Our project had 3 separate permits, 2 different city inspector departments (building services and city engineering), 3 different engineers (structural for the building, structural for the retaining walls, civil for the grading plan.).

And if there are deep footings for the retaining walls – better make sure your grader is OSHA certified. That limits your pool of grading contractors.

Add about $100k to the project before you even consider the building portion of the project.

[UCGal]

I love greyhounds. Love love love them.
We used to buy big bags of grapefruits at costco… and juice most of them… some we’d just eat like oranges.

note to self: purchase and plant a red grapefruit tree.

[UCGal]

I love greyhounds. Love love love them.
We used to buy big bags of grapefruits at costco… and juice most of them… some we’d just eat like oranges.

note to self: purchase and plant a red grapefruit tree.

[UCGal]

I love greyhounds. Love love love them.
We used to buy big bags of grapefruits at costco… and juice most of them… some we’d just eat like oranges.

note to self: purchase and plant a red grapefruit tree.

[UCGal]

I love greyhounds. Love love love them.
We used to buy big bags of grapefruits at costco… and juice most of them… some we’d just eat like oranges.

note to self: purchase and plant a red grapefruit tree.

[UCGal]

I love greyhounds. Love love love them.
We used to buy big bags of grapefruits at costco… and juice most of them… some we’d just eat like oranges.

note to self: purchase and plant a red grapefruit tree.

[UCGal]

Thanks for the tip, Brian.

[UCGal]

Thanks for the tip, Brian.

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