[urbanrealtor]

Uhhh Rich??

Two Questions:

1: How are lots of new sales (without lenders as principals) a “foreclosure wave”? Foreclosures are bank-owned and short sales are not.

2: How is predicting eased restrictions to allow lots of inventory to clear out “bearish”?

Were you being ironical??
Captain Mal is confused.
I am a leaf on the wind.

[urbanrealtor]

Uhhh Rich??

Two Questions:

1: How are lots of new sales (without lenders as principals) a “foreclosure wave”? Foreclosures are bank-owned and short sales are not.

2: How is predicting eased restrictions to allow lots of inventory to clear out “bearish”?

Were you being ironical??
Captain Mal is confused.
I am a leaf on the wind.

[urbanrealtor]

Just a description of my stupid experience here.

For those who don’t actually know me personally, my office is on University Ave in Hillcrest down the block from The Alibi.

So as usual, its a holiday Sunday at 330pm and I am at my desk (I am such a loser).
As I am packaging up my last offer for the day, I feel (and hear) the building moving.

And then it just keeps going.

And then it occurs to me that being on the ground floor of a 2-story building that is more than a century old is probably not a good idea.

So I run out on to the sidewalk.

And I think “God I must look idiotic” (holding a folder and stumbling into a parking meter).

Then I look around.

I see the owner of Cohabitat (the import store), the owner of Houseboi (the uber stylish, uber expensive gay men’s store), and every waitress, cook, and diner at ICHIBAN SUSHI running out doing the exact same thing.

The drunk queens in the belly shirts and bunny ears (seriously dude? its like 55 degrees and windy) are all saying “wooooo” and holding up their fruity drinks.
Frat boys never change.

Its funny how stupid shit like that makes me feel so much better about the world after a moment of panic.

[urbanrealtor]

Just a description of my stupid experience here.

For those who don’t actually know me personally, my office is on University Ave in Hillcrest down the block from The Alibi.

So as usual, its a holiday Sunday at 330pm and I am at my desk (I am such a loser).
As I am packaging up my last offer for the day, I feel (and hear) the building moving.

And then it just keeps going.

And then it occurs to me that being on the ground floor of a 2-story building that is more than a century old is probably not a good idea.

So I run out on to the sidewalk.

And I think “God I must look idiotic” (holding a folder and stumbling into a parking meter).

Then I look around.

I see the owner of Cohabitat (the import store), the owner of Houseboi (the uber stylish, uber expensive gay men’s store), and every waitress, cook, and diner at ICHIBAN SUSHI running out doing the exact same thing.

The drunk queens in the belly shirts and bunny ears (seriously dude? its like 55 degrees and windy) are all saying “wooooo” and holding up their fruity drinks.
Frat boys never change.

Its funny how stupid shit like that makes me feel so much better about the world after a moment of panic.

[urbanrealtor]

Just a description of my stupid experience here.

For those who don’t actually know me personally, my office is on University Ave in Hillcrest down the block from The Alibi.

So as usual, its a holiday Sunday at 330pm and I am at my desk (I am such a loser).
As I am packaging up my last offer for the day, I feel (and hear) the building moving.

And then it just keeps going.

And then it occurs to me that being on the ground floor of a 2-story building that is more than a century old is probably not a good idea.

So I run out on to the sidewalk.

And I think “God I must look idiotic” (holding a folder and stumbling into a parking meter).

Then I look around.

I see the owner of Cohabitat (the import store), the owner of Houseboi (the uber stylish, uber expensive gay men’s store), and every waitress, cook, and diner at ICHIBAN SUSHI running out doing the exact same thing.

The drunk queens in the belly shirts and bunny ears (seriously dude? its like 55 degrees and windy) are all saying “wooooo” and holding up their fruity drinks.
Frat boys never change.

Its funny how stupid shit like that makes me feel so much better about the world after a moment of panic.

[urbanrealtor]

Just a description of my stupid experience here.

For those who don’t actually know me personally, my office is on University Ave in Hillcrest down the block from The Alibi.

So as usual, its a holiday Sunday at 330pm and I am at my desk (I am such a loser).
As I am packaging up my last offer for the day, I feel (and hear) the building moving.

And then it just keeps going.

And then it occurs to me that being on the ground floor of a 2-story building that is more than a century old is probably not a good idea.

So I run out on to the sidewalk.

And I think “God I must look idiotic” (holding a folder and stumbling into a parking meter).

Then I look around.

I see the owner of Cohabitat (the import store), the owner of Houseboi (the uber stylish, uber expensive gay men’s store), and every waitress, cook, and diner at ICHIBAN SUSHI running out doing the exact same thing.

The drunk queens in the belly shirts and bunny ears (seriously dude? its like 55 degrees and windy) are all saying “wooooo” and holding up their fruity drinks.
Frat boys never change.

Its funny how stupid shit like that makes me feel so much better about the world after a moment of panic.

[urbanrealtor]

Just a description of my stupid experience here.

For those who don’t actually know me personally, my office is on University Ave in Hillcrest down the block from The Alibi.

So as usual, its a holiday Sunday at 330pm and I am at my desk (I am such a loser).
As I am packaging up my last offer for the day, I feel (and hear) the building moving.

And then it just keeps going.

And then it occurs to me that being on the ground floor of a 2-story building that is more than a century old is probably not a good idea.

So I run out on to the sidewalk.

And I think “God I must look idiotic” (holding a folder and stumbling into a parking meter).

Then I look around.

I see the owner of Cohabitat (the import store), the owner of Houseboi (the uber stylish, uber expensive gay men’s store), and every waitress, cook, and diner at ICHIBAN SUSHI running out doing the exact same thing.

The drunk queens in the belly shirts and bunny ears (seriously dude? its like 55 degrees and windy) are all saying “wooooo” and holding up their fruity drinks.
Frat boys never change.

Its funny how stupid shit like that makes me feel so much better about the world after a moment of panic.

[urbanrealtor]

[quote=EconProf]urbanrealtor:
Google “property taxes by state per capita” and you will find CA ranks 27th, thus placing us about in the middle for this particular tax. Not sure whether illegals are included in the per capita calculation, but doubt it would much change the outcome.
We are 10th in total state per capita spending among states. That’s not lean.
The best measure of tax burden is all state and local taxes paid per personal income. CA ranks 6th using this overall indicator.
The figures are worse if you include the tax hikes coming due to the looming deficit.
To answer your question, I taught economics for 23 years, mostly at SDSU, and left the field to invest in real estate. But I claim no special expertise–anyone can look up these facts.[/quote]

And if our cost of living is 20-30% higher than average, that still makes our state spending about average.

I do agree that you can’t have average spending and lean taxation.

And yeah, high cost of living and lower than middle taxation does equal lean.

And no, your speculation on possible future taxes are not a real fact. At least not now.

[urbanrealtor]

[quote=EconProf]urbanrealtor:
Google “property taxes by state per capita” and you will find CA ranks 27th, thus placing us about in the middle for this particular tax. Not sure whether illegals are included in the per capita calculation, but doubt it would much change the outcome.
We are 10th in total state per capita spending among states. That’s not lean.
The best measure of tax burden is all state and local taxes paid per personal income. CA ranks 6th using this overall indicator.
The figures are worse if you include the tax hikes coming due to the looming deficit.
To answer your question, I taught economics for 23 years, mostly at SDSU, and left the field to invest in real estate. But I claim no special expertise–anyone can look up these facts.[/quote]

And if our cost of living is 20-30% higher than average, that still makes our state spending about average.

I do agree that you can’t have average spending and lean taxation.

And yeah, high cost of living and lower than middle taxation does equal lean.

And no, your speculation on possible future taxes are not a real fact. At least not now.

[urbanrealtor]

[quote=EconProf]urbanrealtor:
Google “property taxes by state per capita” and you will find CA ranks 27th, thus placing us about in the middle for this particular tax. Not sure whether illegals are included in the per capita calculation, but doubt it would much change the outcome.
We are 10th in total state per capita spending among states. That’s not lean.
The best measure of tax burden is all state and local taxes paid per personal income. CA ranks 6th using this overall indicator.
The figures are worse if you include the tax hikes coming due to the looming deficit.
To answer your question, I taught economics for 23 years, mostly at SDSU, and left the field to invest in real estate. But I claim no special expertise–anyone can look up these facts.[/quote]

And if our cost of living is 20-30% higher than average, that still makes our state spending about average.

I do agree that you can’t have average spending and lean taxation.

And yeah, high cost of living and lower than middle taxation does equal lean.

And no, your speculation on possible future taxes are not a real fact. At least not now.

[urbanrealtor]

[quote=EconProf]urbanrealtor:
Google “property taxes by state per capita” and you will find CA ranks 27th, thus placing us about in the middle for this particular tax. Not sure whether illegals are included in the per capita calculation, but doubt it would much change the outcome.
We are 10th in total state per capita spending among states. That’s not lean.
The best measure of tax burden is all state and local taxes paid per personal income. CA ranks 6th using this overall indicator.
The figures are worse if you include the tax hikes coming due to the looming deficit.
To answer your question, I taught economics for 23 years, mostly at SDSU, and left the field to invest in real estate. But I claim no special expertise–anyone can look up these facts.[/quote]

And if our cost of living is 20-30% higher than average, that still makes our state spending about average.

I do agree that you can’t have average spending and lean taxation.

And yeah, high cost of living and lower than middle taxation does equal lean.

And no, your speculation on possible future taxes are not a real fact. At least not now.

[urbanrealtor]

[quote=EconProf]urbanrealtor:
Google “property taxes by state per capita” and you will find CA ranks 27th, thus placing us about in the middle for this particular tax. Not sure whether illegals are included in the per capita calculation, but doubt it would much change the outcome.
We are 10th in total state per capita spending among states. That’s not lean.
The best measure of tax burden is all state and local taxes paid per personal income. CA ranks 6th using this overall indicator.
The figures are worse if you include the tax hikes coming due to the looming deficit.
To answer your question, I taught economics for 23 years, mostly at SDSU, and left the field to invest in real estate. But I claim no special expertise–anyone can look up these facts.[/quote]

And if our cost of living is 20-30% higher than average, that still makes our state spending about average.

I do agree that you can’t have average spending and lean taxation.

And yeah, high cost of living and lower than middle taxation does equal lean.

And no, your speculation on possible future taxes are not a real fact. At least not now.

[urbanrealtor]

[quote=EconProf]Not sure what you are proposing here, with two attorneys. Does that mean one on each side? That works out to two deal killers moving the transaction along. Most attorneys don’t know enough about the intricacies of RE, unless that is all they do.
Real estate agents of course vary widely in quality. To have a good one working only for you is almost always worthwhile. They insert themselves as middlemen in a complicated, lengthy transaction that is filled with landmines. They keep the two warring sides apart in what is essentially a zero-sum game. They move the transaction along and coordinate deadlines, other parties, and necessary paperwork. Good agents earn their money.
BTW, I would not use a friend as an agent–you can’t ream them out if they screw up.[/quote]

I think (though I am not certain) that he is referring to the practice on the east coast where the agent really only handles the sales part. Once an offer is accepted, the 2 attorneys draw up a contract (think mail merge) and shepherd it through closing. They handle the role we would here use an escrow company for. This is how most law firms keep the lights on in those areas (or so I am told). Ironically, they generally make less than escrow companies. Typical residential closings are 600-800 per side (and each attorney only handles one side).

[urbanrealtor]

[quote=EconProf]Not sure what you are proposing here, with two attorneys. Does that mean one on each side? That works out to two deal killers moving the transaction along. Most attorneys don’t know enough about the intricacies of RE, unless that is all they do.
Real estate agents of course vary widely in quality. To have a good one working only for you is almost always worthwhile. They insert themselves as middlemen in a complicated, lengthy transaction that is filled with landmines. They keep the two warring sides apart in what is essentially a zero-sum game. They move the transaction along and coordinate deadlines, other parties, and necessary paperwork. Good agents earn their money.
BTW, I would not use a friend as an agent–you can’t ream them out if they screw up.[/quote]

I think (though I am not certain) that he is referring to the practice on the east coast where the agent really only handles the sales part. Once an offer is accepted, the 2 attorneys draw up a contract (think mail merge) and shepherd it through closing. They handle the role we would here use an escrow company for. This is how most law firms keep the lights on in those areas (or so I am told). Ironically, they generally make less than escrow companies. Typical residential closings are 600-800 per side (and each attorney only handles one side).

[urbanrealtor]

[quote=EconProf]Not sure what you are proposing here, with two attorneys. Does that mean one on each side? That works out to two deal killers moving the transaction along. Most attorneys don’t know enough about the intricacies of RE, unless that is all they do.
Real estate agents of course vary widely in quality. To have a good one working only for you is almost always worthwhile. They insert themselves as middlemen in a complicated, lengthy transaction that is filled with landmines. They keep the two warring sides apart in what is essentially a zero-sum game. They move the transaction along and coordinate deadlines, other parties, and necessary paperwork. Good agents earn their money.
BTW, I would not use a friend as an agent–you can’t ream them out if they screw up.[/quote]

I think (though I am not certain) that he is referring to the practice on the east coast where the agent really only handles the sales part. Once an offer is accepted, the 2 attorneys draw up a contract (think mail merge) and shepherd it through closing. They handle the role we would here use an escrow company for. This is how most law firms keep the lights on in those areas (or so I am told). Ironically, they generally make less than escrow companies. Typical residential closings are 600-800 per side (and each attorney only handles one side).

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