Real Estate Crash thread

[liv2ski]

That .2% is gone today and more.

Bonds getting smoked over the last 2 weeks. My refi pipeline is going to evaporate in 60 days if this shit keeps up.
sfotex, markets are local. Good news is you should be able to drive the same hard bargain/good deal that you sell your house for.

[cramer]

SF Bay area is obviously hitting a bubble. Every month my house gains 10K in value. I can thank the builder who built a bunch of new houses 2 streets over the last couple years and created his own new streets. They are selling like hot cakes. All cash investors. Renting them puppies out. I'm here for the long haul, so really doesnt matter to me until my kids out of high school 11 years from now or i retire. But i am happy for my neighbors who have seen their housing values climb back up. They were on the long term plan, lived in the bay area their whole lives and will probably sell this time at the top of the bubble. They are about ready to retire in the next few years. Awesome for them.

[liv2ski]

I like looking at the area maps in Zillow that show you the published properties in default. I haven't looked at it for awhile, but was killing some time looking at it yesterday. I was blown away how much the markets in Bend OR and Reno have improved in the last 2-3 years. The area between Sacramento and Tahoe still has a shit load of foreclosures and consequently, some pretty good deals, if that part of the world works for you. I liked this one on 44 acres, as I could grow a ton of weed up there once CA goes the way of WA and CO. http://www.zillow.com/homedetails/60.../17685986_zpid
Wife suggested I keep dreaming.

[Toadman]

I like looking at the area maps in Zillow that show you the published properties in default. I haven't looked at it for awhile, but was killing some time looking at it yesterday. I was blown away how much the markets in Bend OR and Reno have improved in the last 2-3 years. The area between Sacramento and Tahoe still has a shit load of foreclosures and consequently, some pretty good deals, if that part of the world works for you. I liked this one on 44 acres, as I could grow a ton of weed up there once CA goes the way of WA and CO. http://www.zillow.com/homedetails/60.../17685986_zpid
Wife suggested I keep dreaming.

No kidding. Was down in Bend during Feb. and they are building new construction again. Was told by a local, that houses in the 7 figure range are the big movers.

[AdironRider]

I like looking at the area maps in Zillow that show you the published properties in default. I haven't looked at it for awhile, but was killing some time looking at it yesterday. I was blown away how much the markets in Bend OR and Reno have improved in the last 2-3 years. The area between Sacramento and Tahoe still has a shit load of foreclosures and consequently, some pretty good deals, if that part of the world works for you. I liked this one on 44 acres, as I could grow a ton of weed up there once CA goes the way of WA and CO. http://www.zillow.com/homedetails/60.../17685986_zpid
Wife suggested I keep dreaming.

You could also shoot pornos in that place.

[liv2ski]

^^^^That would go over really well with my wife. Anyways, out walking the hood over the last few days, homes that have been on the market for months are finally in escrow and some newly listed properties lasted a few weeks. And I am talking homes between $1.5M-$2.5M. So ya, I guess the full on bubble in So Cal is back. Gotta buy before the rates go back up.

[H0G]

Well we decided to put our house on the market after HUD accepted our bid on a property. We received a full price offer within 4 days of listing . Buyers look decent.

The house we are buying was foreclosed on for $100k over what our bid came in at

Fingers crossed I can get these deals done!

[liv2ski]

^^^^Sweeet. Knowing that my neighborhood is back to about it's all time high again, if it was just me, I would sell, buy that place 30 minutes from Tahoe for cash and put another $500k in the bank, but the wife loves where we live, so that is never going to happen. If this place was a $100k cheaper, I may have to insist though: http://www.zillow.com/homedetails/26...photo-lightbox

[4matic]

If this place was a $100k cheaper, I may have to insist though: http://www.zillow.com/homedetails/26...photo-lightbox

Nice place but do you really want and need all that sg footage?

[MontuckyFried]

^^^^Sweeet. Knowing that my neighborhood is back to about it's all time high again, if it was just me, I would sell, buy that place 30 minutes from Tahoe for cash and put another $500k in the bank, but the wife loves where we live, so that is never going to happen. If this place was a $100k cheaper, I may have to insist though: http://www.zillow.com/homedetails/26...photo-lightbox

Holy crap! Homes like that exist in California for under a million?! I'd be all over that place if I lived there (and could afford it).

[Hugh Conway]

Holy crap! Homes like that exist in California for under a million?! I'd be all over that place if I lived there (and could afford it).

all of the taxes and none of the jobs. real winner.

pornmovies get shot in socal, generally in the hills above the valley/la

[liv2ski]

Nice place but do you really want and need all that sg footage?

My parents are in their 70's, so I am thinking in the next 10 years I am going to need a bigger place, than my present 1700 square foot beach shack, to keep an eye on them. Plus the location and view are fucking awesome. Step dad and I could make guitars in the 3rd car garage, grow some weed on the acreage, it would be a pretty sweet set up. I just think it is overpriced for that area and as my wife keeps reminding me, I am obviously dreaming.

[4matic]

My parents are in their 70's, so I am thinking in the next 10 years I am going to need a bigger place, than my present 1700 square foot beach shack, to keep an eye on them. Plus the location and view are fucking awesome. Step dad and I could make guitars in the 3rd car garage, grow some weed on the acreage, it would be a pretty sweet set up. I just think it is overpriced for that area and as my wife keeps reminding me, I am obviously dreaming.

Check Prop 90 tax transfer counties. El Dorado County takes Prop 90.

http://www.boe.ca.gov/proptaxes/faqs...ons60_90.htm#1

[liv2ski]

^^^^Kind of sucks so few counties allow the inter county property tax transfer, as mine are pretty low. Thanks for that info.

[mud]

all of the taxes and none of the jobs. real winner.

pornmovies get shot in socal, generally in the hills above the valley/la

I could shoot my porn movies around here for that type of coin..

http://www.zillow.com/homedetails/1-...80769427_zpid/

Could have picked it up for less than $133k 20 years ago.

[liv2ski]

Could have picked it up for less than $133k 20 years ago.

The dirt sold for $132k in 1994 and the 3300 sq ft home must of cost $300k+ to build, so no, you could not have bought it at that price. Nice place if it wasn't for the small lot and the occasional hurricane.

[Hugh Conway]

I could shoot my porn movies around here for that type of coin..

http://www.zillow.com/homedetails/1-...80769427_zpid/

Could have picked it up for less than $133k 20 years ago.

But you couldn't drive 10 minutes and fill up the SUV with named talent.

[mud]

But you couldn't drive 10 minutes and fill up the SUV with named talent.

I'm all about discovering new talent.
Shit didn't see it was just a lot on my phone.

[AdironRider]

I'm all about discovering new talent.
Shit didn't see it was just a lot on my phone.

Pickins getting slim for Grannys G Spot 13 huh?

[mud]

Pickins getting slim for Grannys G Spot 13 huh?

Redneck Rivera Rubout.

[Hugh Conway]

Redneck Rivera Rubout.

aka Geraldo goes good ole gayboy

[mud]

Benny's flying down as special guest brownstar.

[Rideski]

Scanned a few pages and didn't see anything real quick.
My 30 year fixed was sold by my mortgage company to another.
Never missed a payment in 8 years, great credit, etc.
New company seems rinky dink.
Statement reads
"this is an attempt to collect a debt"
They claim they have to do this as they don't have a third party collection agency?
I would probably just cooperate if they didn't raise my payment $65 and don't have an explanation as to what it is for. They say escrow shortage, but my escrow was just paid in full and my taxes are going down.
Disclaimer says they cannot report me as late in the first 60 days, should I try to fight this or just refi before first payment due? (due now basically, already in grace period)

edit, and if this has been discussed somewhere in this 148 page thread feel free to link a page number.

[liv2ski]

Rideski, request a 12 month loan history. That should show you your beginning escrow/impound acct balance, additions as you make payments and deductions as they pay taxes and insurance. If they are pretty negative balance wise, they will ask you for money or increase your payment by X to balance out the shortage. Your taxes and insurance will go up over time, so the impound acct will need adjustments.
Don't get all worked up over this. Fuck, see if you can cancel the impound acct and just pay your own taxes and insurance when due.

[cramer]

Scanned a few pages and didn't see anything real quick.
My 30 year fixed was sold by my mortgage company to another.
Never missed a payment in 8 years, great credit, etc.
New company seems rinky dink.
Statement reads
"this is an attempt to collect a debt"
They claim they have to do this as they don't have a third party collection agency?
I would probably just cooperate if they didn't raise my payment $65 and don't have an explanation as to what it is for. They say escrow shortage, but my escrow was just paid in full and my taxes are going down.
Disclaimer says they cannot report me as late in the first 60 days, should I try to fight this or just refi before first payment due? (due now basically, already in grace period)

edit, and if this has been discussed somewhere in this 148 page thread feel free to link a page number.

The first year for my house my payment actually went down. But the last 2 years ive had to pay a 26 dollar escrow shortage and a 120 escrow shortage. Mine was due to my insurance going up. My payment also went up a little bit too. Its about to go up even more due to property values rising and thus my taxes will go up. Where do you live that your taxes are going down?

The only thing that could change your payment is taxes or insurance if you're on a fixed rate. Might want to check what your insurance charged. I'll be shopping for a new one this year. My current one is fucking me over from what i can tell. They keep raising it every year and they could not tell me why. You can't view your stuff online? I can look at all the history, my escrow balance, taxes due and paid and what my insurance cost. So it was pretty clear for me what caused my payment to go up.