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kaihacker

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Reply with quote  #601 
I believe this was posted in early 2012....his recommendation was to sell real estate.  He mentioned that it would fall a lot more in the rest of 2012, and could fall another 40% over the next 5 years.

Personally, I don't regret buying more houses.  I am only wish I could have bought more in early 2012.  


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Gene Hacker

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corkhorner

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Reply with quote  #602 
Robert b, where does it fit in regarding the bullish economy without
Underlying economic validity in which 'the public is usually (Always?)
Wrong? '

Like the last re bubble that took most down with it?
Here in phx, I've met lotsa millionaire (former) working 'with the tools).
A builders dilemma.

There is spec building going on in phx but who knows if it will be sustained.
Hedge against find financial meltdown?
Buy potato chips for long haul. Maybe Beer too?

Why not!

Cork Horner
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kaihacker

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Reply with quote  #603 

Obamacare To Double Cost Of Insurance For Average Californian

 
 

http://www.zerohedge.com/news/2013-06-02/obamacare-double-cost-insurance-average-californian


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Gene Hacker

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Home Inspections in Bakersfield and all of kern county:
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Paul

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Reply with quote  #604 
Here's today's MLS price changes on the areas I buy. There are 25 listings and all arrows point down:

Greg

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Reply with quote  #605 
Temecula and Murietta on the downswing? Why do you think? That drop in Washington Av was huge.
kaihacker

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Reply with quote  #606 
Price changes on the local MLS are always down.  Listing agents score the listing by promising (aka lying) how they can get the seller a very high price then work on dropping the price down closer to the market value over time.  I don't think I have ever once seen a price change on the MLS in which the price went up.  Even in 2005 when things were crazy, properties were bid up above asking price often, but I never once saw a MLS price increase.

I am not saying that prices are not dropping...I just think there are much better metrics than the price changes of active listings.  

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Gene Hacker

Passive and active real estate investment opportunities.
http://RiverLakeRE.com riverlakere@gmail.com

Home Inspections in Bakersfield and all of kern county:
http://bakersfieldinspections.com
Paul

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Reply with quote  #607 
I agree with you Gene. That was just a quick visual of price changes. This time last year, those arrows were mostly up. 
mlreits

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Reply with quote  #608 
U.S. investors are the most optimistic they have been in the past 7 years, as the economy slowly continues to improve, according to a late-August poll by Gallup Inc.

http://www.centralvalleybusinesstimes.com/stories/001/?ID=26809

Oh crap, here we go.  It's time to sell sell sell. 


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Minh

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brycewheeler

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Reply with quote  #609 
Courtney.

Please give it a rest!  

Bryce
rickencin

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Reply with quote  #610 
Out-of-Control Russian Spacecraft Will Fall from Space Overnight Tonight

http://news.yahoo.com/control-russian-spacecraft-fall-space-overnight-tonight-192033019.html


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sandiegolender

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Reply with quote  #611 
Greg
Can you please change your subject to a positive message
"YET ANOTHER SIGN OF BAD TIMES"
promoting positive thoughts is a better sign of the times.
We are all fed up with headlines about doom and gloom.
The glass is half full and that's on the sad side.
With respect, thank you

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Greg

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Reply with quote  #612 
Quote:
Originally Posted by sandiegolender
Greg Can you please change your subject to a positive message "YET ANOTHER SIGN OF BAD TIMES" promoting positive thoughts is a better sign of the times. We are all fed up with headlines about doom and gloom. The glass is half full and that's on the sad side. With respect, thank you


You need to take it in context. This was started pre-bubble when we were getting post after post of doom warnings. This thread was meant to be a humorous aggregation.

I could un-pin it?


niravmd

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Reply with quote  #613 
Quote:
Originally Posted by Greg


You need to take it in context. This was started pre-bubble when we were getting post after post of doom warnings. This thread was meant to be a humorous aggregation.

I could un-pin it?




Yes, please do!

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Walter

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Reply with quote  #614 

INFORMATION/TESTIMONY ON HOW I GOT A LIFE-CHANGING LOAN FROM EMINENT JOSH WORLD LOANS INC... (joshloancompany@yahoo.com OR +1 215-874-8060)

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Walter

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Reply with quote  #615 

INFORMATION/TESTIMONY ON HOW I GOT A LIFE-CHANGING LOAN FROM EMINENT JOSH WORLD LOANS INC... (joshloancompany@yahoo.com OR +1 215-874-8060)

I'm Walter J. Macias resident at 2270 Paul Wayne Haggerty Road, New Orleans, LA 70114. I want to share this great testimony on how I got my loan from JOSH WORLD LOANS INC...my family were driven out of our home because I couldn't pay my bills anymore. After been scammed by various companies online and denied a loan by my bank as well as credit unions I visited. My kids were taken by the foster care; I was all alone in the street. Until a day I shamefully walked into an old school mate who introduced me to this God fearing loan company (JOSH LOAN COMPANY). At first I told him that I am not ready to take any risk of requesting a loan online anymore, but he assured me that I will receive my loan from them. On a second thought, due to my homelessness I took a trial and applied for the loan, I'd filled the loan application form and proceeded with all that was requested of me, luckily as God would have it, I was granted a loan of $175,000.00 which I applied from this company and I’m glad I took the risk and applied for the loan. My kids have been given back to me and now I own a home and a business of my own. All gratitude goes to EMINENT JOSH a God sent Loan Lender for giving a meaning to my life when I had lost all hope, so I made a vow to myself that I will keep testifying on the internet on how I got my fortunate life changing loan. Therefore without reservation, I strongly recommend JOSH LOAN COMPANY for anyone who needs a loan. You can get in contact with this great company via email at joshloancompany@yahoo.com or Call/Text them on +1 215-874-8060

Walter

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Reply with quote  #616 

INFORMATION/TESTIMONY ON HOW I GOT A LIFE-CHANGING LOAN FROM EMINENT JOSH WORLD LOANS INC... (joshloancompany@yahoo.com OR +1 215-874-8060)

I'm Walter J. Macias resident at 2270 Paul Wayne Haggerty Road, New Orleans, LA 70114. I want to share this great testimony on how I got my loan from JOSH WORLD LOANS INC...my family were driven out of our home because I couldn't pay my bills anymore. After been scammed by various companies online and denied a loan by my bank as well as credit unions I visited. My kids were taken by the foster care; I was all alone in the street. Until a day I shamefully walked into an old school mate who introduced me to this God fearing loan company (JOSH LOAN COMPANY). At first I told him that I am not ready to take any risk of requesting a loan online anymore, but he assured me that I will receive my loan from them. On a second thought, due to my homelessness I took a trial and applied for the loan, I'd filled the loan application form and proceeded with all that was requested of me, luckily as God would have it, I was granted a loan of $175,000.00 which I applied from this company and I’m glad I took the risk and applied for the loan. My kids have been given back to me and now I own a home and a business of my own. All gratitude goes to EMINENT JOSH a God sent Loan Lender for giving a meaning to my life when I had lost all hope, so I made a vow to myself that I will keep testifying on the internet on how I got my fortunate life changing loan. Therefore without reservation, I strongly recommend JOSH LOAN COMPANY for anyone who needs a loan. You can get in contact with this great company via email at joshloancompany@yahoo.com or Call/Text them on +1 215-874-8060

brenboy

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Reply with quote  #617 
Hi:  I own a lot in North Yuma, AZ.  I need advice how to place an inexpensive house on the property to rent out.  The existing house is now boarded up, and needs to be demolished.  The lot needs to be re-graded higher, because the current house was flooded from the heavy rains not long ago. The lot is in a nice, but old part of Yuma.  Seems worth placing a home there.

I've considered placing a used manufactured home, prefab, or even a storage container home, but part of the issue is that I'm a retired high school teacher with only a moderate retirement and not a lot of savings, so I need a very inexpensive option for placing a home there.

Any thoughts or ideas?

Thanks,

Mark

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larrywww

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Reply with quote  #618 

1. If you are in a flood zone (and whether you were---given that you flooded out---you may soon be)---then you probably can't get financing.  No lender is likely going to finance the building of a house after it flooded out.   Even if you could get financing, the flood insurance----big if, assuming you could get flood insurance---would alone would likely be a deal killer.  Flood insurance is very pricey---and it doesn't cover alot of expenses.

2. How much would a lot----in Yuma----not in a flood zone---cost?  Maybe that would be a better option, both, in terms of getting financing and avoiding the undue expense of flood insurance.

3. You say that you are in the old part of town----is that good or bad in terms of rental?  It doesn't pay to build an overly upscale house in a less shiny area---it will never appraise---meaning you can't sell it---if you want that as an exit strategy.

4. If you were flooded out---then what happened to all of your neighbors?  You need for the neighborhood to come back, not just your house.  Usually, what you are selling is the neighborhood.

4. What will fly or not from a building standpoint will depend what you hear from planning / building department for Yuma---no one who hasn't developed property in Yuma is going to know this.

My advice: Think hard before you throw good money after bad.  A flooded out area will (likely) have an overabundance of cheap lots from distressed owners who can't afford to rebuild.  What a flooded out area will NOT have is necessarily alot of buyers willing to be the next fool and take a home there.  So that may be one exit strategy gone.  And you can't rent it out---if you can't finance the construction first.

My guess, you will get not very much for the lot---but if you can, that would be a better option.  

My feeling is that unless this is a highly desireable area, I wouldn't build there---though that is just based on the above considerations.

Sometimes, you just declare a loss and move on.

brenboy

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Reply with quote  #619 
Hi Larywww:  The lot isn't in a flood zone, it's just a fluke that the waters, only from heavy rains, tend to flow down the street and onto the few lots at the end of the street.  The last house on the block was built up nicely and a nice moderate home built.

Once the lot is graded so that the lot ground is more level with or a bit higher than the sidewalk, water will drain fine.  The area is up and coming, has salable nice, moderate homes, with nice parks one a two blocks away, and upscale homes being built next block over.  Likely worth building?  Two neighbor's on same block have already asked if I'd sell the lot.  They've lived there all their lives and want family members to build near them.

Seems good to build, but don't know for sure?  Any additional thoughts?

Thanks for the reply,

Mark

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larrywww

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Reply with quote  #620 
1. talk to planning.

2. find someone under construction in similar situation (if there is one).  Find out how the city has treated them.  Would they build all over if they had the chance?  If they are a contractor, you might ask them for an estimated cost of construction.  Ask them what they are selling for once complete, what their profit margin looks like, etc.

That's what I would do.
brenboy

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Reply with quote  #621 
Hi Larrywww:

Thanks for that info.  I will pursue that kind of information.  Very helpful.

Sincerely,   Mark

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ShirleeSpevak

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Reply with quote  #622 
Quote:
Originally Posted by Subcranium
The question is do we have a big drop, or do we have years and years of flatline while inflation keeps on trucking? I have no idea. Opinions?


I have the same question in mind.
brenboy

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Reply with quote  #623 
Many conservative financial gurus indicate the financial system to be so overloaded with debt and derivatives, that it cannot sustain a long period of flatlining, but Must "fall" to correct properly, so we can again have the potential of recovery.
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