california: Do You Expect This: A Californian City House May Be Sold For 1 Percent of Its Peak Price? - 08/23/08 08:32 PM
Wow, what a surprise today I encountered! One thousand dollars for this California city house? Is this a joke? Is this a reckoning day? Am I kidding?
No, there is no typo. This house is absolutely not in Michigan or Ohio where a house sold for $1,000 is no surprise; it … (6 comments)
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california: Can You Buy This Californian 1989 Half Million House For $150K? - 07/08/08 04:18 PM
Public Facts:
Single family
4 beds
3.0 bath
2,171 sqft
Lot 8,000 sqft
Built in 1989
Zestimate Information
Zestimate: $545,000
30-day change: -$13,000
Value Range: $463,250 - $577,700
Last updated: 07/07/2008
Market Value Change
* The navy blue line is for the value of … (1 comments)
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california: Foreclosure Is Good Stuff for a Market, Isn't It, Marissa? - 05/09/08 07:04 PM
A Funny World (25): God gives you a chance to stand up again
Lucrative Grim Repo Man is Product of Economic RecessionBy Marissa BlaszkoStaff Writer
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My dear Marissa:
Listening to what you said: "I don't have any idea how you managed to misinterpret that article so … (1 comments)
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california: A Funny World (17): Your Tent City? Or My Tear City? - 12/25/07 10:01 PM
Christmas, 2007
Tent city in suburbs is cost of home crisis
By Dana Ford
ONTARIO, California (Reuters) - Between railroad tracks and beneath the roar of departing planes sits "tent city," a terminus for homeless people. It is not, as might be expected, … (9 comments)
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california: A Funny World (16): Why ASK Lender's Mercy? Why Don't You Do Lender a Favor? - 12/23/07 01:12 PM
When Is it a good Idea to Consider a Deed-In-Lieu of Foreclosure
Decisions. Decisions. Decisions. If you are late on your payments and are trying to think of some options as to what you can do to avoid foreclosure, here are some options:
Repayment Plan Reinstatement Forebearance or Loan Modification Agreement … (6 comments)
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california: A Funny World (15): Bonuses or Bearshit? - 12/22/07 11:19 AM
Bonuses on Wall Street surge 14 percent :
Four of the biggest U.S. investment banks - Goldman Sachs Group Inc., Morgan Stanley, Lehman Brothers Holdings Inc. and Bear Stearns Cos. - will pay out about $49.6 billion in compensation this year.
Thain won't get a year-end bonus since he took the job on … (0 comments)
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california: A Funny World (14): Sun Goes Up? Or Not? - 12/18/07 03:04 PM
As foreclosures mount, tenants suffer
You've got to figure, these banks are in California, they've got a gazillion properties, they think on a national scale." - Joseph Petrocelli, owner of New England Property Solutions, a company that's hired by mortgage companies to handle the sale of foreclosed properties. Petrocelli was commenting on … (1 comments)
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california: A Funny World (12): Action with Result or Inaction to Nothing? - 12/16/07 12:02 AM
A Funny World (11): Housing Price Down Or NOT?
4 days ago, Warren Buffett attended Hillary's presidential fund-raiser party in San Francisco. They made some very funny statements that gave me a lot of laugh all day long. But here I will share you guys just one argument.
When Warren talked about "US … (1 comments)
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california: A Funny World (11): Housing Price Down Or NOT? - 12/14/07 01:42 PM
The Dumbest Thing Said Yet About the Housing Debacle
Housing prices aren't falling. Only the prices of houses that are being sold are falling. Prices have not fallen for those who have not sold their houses.
Every bubble spawns a certain amount of idiocy, but some ideas are so ludicrous, you have to … (0 comments)
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california: A Funny World (9): Some Win and Some Lose All the Times - 12/07/07 03:44 PM
Bonus Time
Well, supposed someone's crying is heard well enough? Did our great politicians listen? Yes, they did or they won't come up the B.B. "freeze" loan program. As my dean who graduated from Oxford U. taught us that it is a "American Circus" when he compared ours to the British cabinet system. Mrs. Clinton and Mr. … (2 comments)
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california: A Real Case (III-1): It Takes FIVE Minutes to Close a Real Estate Deal - 12/06/07 05:14 PM
Can we close a RE deal in hours or shorter?
A Real Case (III): No Upset Housing in Some Areas of Southern California?
12-06-2007 16:20
Just got back home and receive an email alert from an asset management. Here it is:
Now, the listing price is $550K. Take 10% off to reach its … (1 comments)
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california: A Funny World (8): Bubble Turn Into Double (Play or Cross)? Hope It's Not Trouble - 12/05/07 10:55 PM
* In order to better understand this article, please also check my article Who's crying so loud out there?
* The following news is worth my effort to copy its whole content here for your big laughing and then keep go on reading my comment on it if you want.
UPDATE 1-Mistakes … (2 comments)
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california: Who's crying so loud out there? - 12/05/07 01:01 PM
The blood on Greenspan's hands
The former Federal Reserve chief now admits there is a housing bubble, yet he still refuses to take the blame he so richly deserves, By Bill Fleckenstein
******* ****** *******
Hi! Bill,
Be nice to an old gentleman Mr. G, Okay? Keep in mind that he used to be one of … (1 comments)
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california: Zero Brian, Zero Solution - 12/04/07 10:04 AM
This is a revised version of my argument in response to an article "Treasury's Subprime Rate Plan is a Great Big Zero"written by David J. Merkel, CFA, FSA, a leading commentator at RealMoney.com.
In David's article, there are two arguments:
1) Paying the mortgage payment is not the problem here; it … (0 comments)
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california: A Funny World (6-1): Talker with Lips, Doer with LPs - 12/01/07 08:59 AM
HELP! I'm Facing Foreclosure!
I really enjoy Jaclyn's post. After exchange viewpoints with her, she inspired me so much brain storming that gives a birth this article "Talker with lips, Doer with LPs." Before I put it into a real one from a draft, I would like to share your guys the exchanges. I will … (4 comments)
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california: Great to Have Such a Great Economist at Yale?!!!!! - 11/29/07 07:04 AM
Home prices take steeper downturn
Median or Average Housing Price: Totally Junk To a REO Investor (I)
I read the CNNmoney report above right after Dr. Shiller has his press release conference.
It is very hard for me to accept that Shiller Index is the most reliable vehicle to judge the trend of … (1 comments)
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california: A Funny World (4): You Be the Judge? Where is the Real Judge? - 11/28/07 09:00 PM
You Be the Judge - Real Estate Killeen TX
November 28, 2007
Hi! Mary Ann:
I read your post that is 3 month old. Maybe you have an answer already.
I am just wondering how come nobody responds to your post as mine.
My answer is this: Let it go as the buyer wants.
Why? … (0 comments)
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california: A Funny World (1): Holly See or Holly Shit? - 11/24/07 01:07 PM
Are You A Real Estate Contrarian Investor?
Governor Schwarzenegger Lobbies Congress for California Homebuyer Assistance
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I admit that I am a book warm. I read a lot of enlightening articles every day. So many articles inspired me so much yesterday that I would like to write an article entitled: "From K to … (2 comments)
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california: American Poor Folk's Egold Is Up - 11/23/07 01:12 PM
I got into AR two weeks ago. I have a lot of fun. But there is something missing: excitement for challenges!
So I decide to start a new group: APFE. Here, I invite everybody who dare to have a big dream even he or she is cash-poored.
No person shall be treated … (3 comments)
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california: Who and What's Mr. B: Brilliant or Bullshit? - 11/21/07 10:22 AM
Are we facing the worst home foreclosures in the history of the USA housing market?
This is very serious, experts are saying next year will be worse, but in reality I believe 09-2010 will be even worse. I honestly believe the experts are deliberate in forcasting the real estate problem, they dont … (5 comments)
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california: Southern Californian Housing Drown Fast! - 11/17/07 10:52 AM
At 10:40 11/17/07
A vital revised version of comment on A Real Case: Who cares about Average Price or Median Price! (II)
Sorry, my fellow agent. I made a big mistake. The unit #162 is a new listing with no pic shown. It is possible not the one mentioned in the article. So I … (3 comments)
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california: A Real Case: Who cares about Average Price or Median Price! (II) - 11/16/07 04:59 PM
A Real Case: Who cares about Average Price or Median Price! (I)
To my dear fellow agents:
40% down to the drain??? That's incredible! You don't believe it? Is it already so bad for the condo market in some cities of LA or Orange county?
Yes, you do believe in the stats made out of NAR. … (2 comments)
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california: Can we close a RE deal in hours or shorter? - 11/16/07 08:20 AM
How short you need to close a sale in RE?
I am NOT talking about a short sale. Everybody talks about it recently as it was so popular in mid-1990. How short of sales fund you can create in obtaing a loan forgiveness from a lender to a home owner in order to successfully close a short sale? That's something involve … (3 comments)
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california: A Real Case: Who cares about Average Price or Median Price! (I) - 11/15/07 10:28 AM
http://activerain.com/blogsview/272766/Median-or-Average-Housing
post on 10:22 11-14-07
At 09:25 11-14-07, I received an email informing me a new list REO in West Covina, CA. That's about 10 minutes ago. Now use my formula. Here is what I came up to the REAL TIME situation as to the property.
The email notice:
2) the recent sale (s) in … (7 comments)
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california: What's Zero Down? Do It "Negative Down" all the time and Do It Better, Please - 11/14/07 07:15 PM
http://activerain.com/blogsview/269781/My-observation-at-Texas
This is a revised version of my post in LA Times a week ago.
I just got back from a Texas county property tax sale. The game rule is totally different from California. Great game to play here if you have patience.
At least there are a lot of properties up on auction … (2 comments)
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california: Median or Average Housing Price: Totally Junk To a REO Investor (I) - 11/13/07 08:09 PM
Question 1:http://homes.wsj.com/columnists/housetalk/20060512-fletcher.html?refresh=on
Why is it so hard to get good data on housing-market prices? Are there no reliable indexes? I disagree that Realtors will help much -- even for information on price cuts in your target neighborhood. Most Realtors just want to sell houses, and "now" is always the best time to buy; … (5 comments)
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california: What an agent's life is: incredible? Is it the life you want? - 11/13/07 08:59 AM
This is a updated version of my response to 2 advice given by Fred Sands to a RE agent in LA Times: http://latimesblogs.latimes.com/laland/2007/11/realtors-get-wa.html?cid=88986808
Out of my 20 year experience in RE, including being an owner of my brokerage (or vice CEO in one of 400+ agents at a time) and partner/ owner of one largest appraisal firms in LA, I know the reality … (2 comments)
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california: Want to be normal? I'd rather be the driver - 11/12/07 11:14 AM
Question
CFC's management of REO
http://activerain.com/blogsview/229672/Anybody-hear-about-Countrywide
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My response:
What's normal?
Different kind of ball game, different rule. Who's the boss setting the rule of game?
Dealing with REO, I make up my mind: Always, always, I am the driver behind the wheel. It is a normal and reasonable assumption based on a vital fact that … (1 comments)
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california: Normal risk turn in normal reward, Normal people end up with normal life. - 11/12/07 12:30 AM
Q. I have noticed that all the REO and short sale homes have asking prices that are on the high end of market value. How long before the deals start showing up? I really want to buy again but based on the median household income the prices will need to come … (0 comments)
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california: Foreclosure Outcome in TD States (Not for Mortgage State) - 11/11/07 10:19 PM
Q. The property is in California. After a foreclosure, Can the 2nd deed of trust to still collect the on the loan? Can the 2nd demand repayment of the loan by collecting from the borrower's personal assets or business?
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My two Response:
(1)
If after foreclosure, there is no one making … (0 comments)
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