Renting is sweet. … Renting is sweet. Wait to buy until you are confident that you are going to be in the same spot for 15 years, put AT LEAST 20% down, get a 15 year fixed rate mortgage, and payments shouldn’t exceed 25% of your TAKE HOME pay.
World Factbook info … World Factbook info, California as an independent state, it would have had the 10th largest economy in the world in 2007.
July 09 California #1 foreclosures at 108K
U.S. 360,000 for 1 month!
Go To: Google maps, select REAL ESTATE @ right options box. Check FORECLOSURES, zip code 91739 and watch the search area w/PINS of homes in foreclosure. MINDBLOWING! zip 91739 the Inland Empire. Ground zero
CA CML RE @ 30% vacancy rate! 5 yr bloodbath more at: CaliforniaRE2009 blogspot
I hear ya Joey. … I hear ya Joey. It’s the banks and the buyers fault. The banks wanted the commision and the buyers wanted to make an investment. The buyers didn’t research the housing market and the banks didn’t care if the buyers lied about their income or job title.
The buyers are at … The buyers are at fault too since they expected their house prices will always go up. I talked to people who bought their houses back in 2005, 2006 since they believed that it was their best chance because housing prices never goes down.
It’s unbelievable … It’s unbelievable the decline in property values we see across the country each day. It will be years before this market recovers, and that’s if you redefine recover! It’s a buyers market though if you plan to hang on.
Nice Vid. I … Nice Vid. I enjoyed it. We market properties and other things on youtube, we hope to create a large network of people interested in making money. Your video gets a five star rating from us. I hope you feel the same about ours.
then of course … then of course people dont pay their tax on the house they walked away from, renters dont pay that tax. So an empty house no one wants just sits their. I knew CA was screwed a few years ago when I looked at a little box house that was 400,000 in a bad area with bars on the windows and gang type mexicans living next door.
Supply being fixed … Supply being fixed does make the asset go up in value all the time. If demand decreases (e.g. if fewer people have babies and population declines) then land prices will go down.
heh yesterday i and … heh yesterday i and my sister buy two house in Kodiak AK 250k usd for each is great place for summer vacation,but for living beter Europe
“Real estate never … “Real estate never goes down” is a lie but the words themselves make it a double lie because they obscure what is really going on. Real estate is improvements and land. Improvements, i.e. houses, don’t go up in value because they depreciate and their supply is constantly increased by builders keeping cost/price stable. It is land value that goes up because its supply is fixed. It is land value that is bid up sky high and comes down in periodic “real estate” booms and busts in an 18 year cycle.
Ironically, I paid … Ironically, I paid cash for my house or rather,’project’ and paid in full, but with the increase expense of construction supplies, gas, hydro, taxes, fees etc. from all the hoopla created by the housing boom, I ended up selling anyways -It just wasn’t worth the time and money in the long term
Thanks. You are … Thanks. You are correct. Please continue dispelling the lies of the realthores.
Here’s one more tidbit:
Housing prices over time appreciate about 0.3% ahead of inflation which is essentially nothing. Just something to think about when making an “investment” in real estate. You get a better deal if you put your money in a bank money market fund.
If your in one of … If your in one of those areas where prices have declined 40 to 50%, and appreciation goes back to historical rates before the bubble, you can expect to only appreciate 2 to4% a year. It will take a long time, more then most people stay in one house to recoup.
Don’t listen to real estate agents. They are dopes. They know little about the market. Most only know how to list a house. Besides, 10 years is not ling at all, especially if the last 6 to 7 were in this bubble market.
This is not true. … This is not true. Value is down all over. Appreciation for the previous years, start of the bubble 14 to 20%. Now it is burst, along with it, easy credit that caused it. It could be a long time before you get what you paid for your house. Your house WON’T appreciate like it had, because the easy credit is not there
If you are in a long foreclosure state, pocket the money until they evict you then go buy a house the same as the one you left for half the price…..in 5 years after this is over.
Easy to figure this one out.
May 25th, 2010 at 3:15 am
Renting is sweet. …
Renting is sweet. Wait to buy until you are confident that you are going to be in the same spot for 15 years, put AT LEAST 20% down, get a 15 year fixed rate mortgage, and payments shouldn’t exceed 25% of your TAKE HOME pay.
May 25th, 2010 at 3:15 am
that lady in the …
that lady in the begginign looked like carmen electra!
May 25th, 2010 at 3:15 am
World Factbook info …
World Factbook info, California as an independent state, it would have had the 10th largest economy in the world in 2007.
July 09 California #1 foreclosures at 108K
U.S. 360,000 for 1 month!
Go To: Google maps, select REAL ESTATE @ right options box. Check FORECLOSURES, zip code 91739 and watch the search area w/PINS of homes in foreclosure. MINDBLOWING! zip 91739 the Inland Empire. Ground zero
CA CML RE @ 30% vacancy rate! 5 yr bloodbath more at: CaliforniaRE2009 blogspot
May 25th, 2010 at 3:15 am
I hear ya Joey. …
I hear ya Joey. It’s the banks and the buyers fault. The banks wanted the commision and the buyers wanted to make an investment. The buyers didn’t research the housing market and the banks didn’t care if the buyers lied about their income or job title.
May 25th, 2010 at 3:15 am
The buyers are at …
The buyers are at fault too since they expected their house prices will always go up. I talked to people who bought their houses back in 2005, 2006 since they believed that it was their best chance because housing prices never goes down.
May 25th, 2010 at 3:15 am
I make $12 an hour. …
I make $12 an hour. My wife makes $18 an hour. We have 5 kids…and we just bought a $300k home.
Is it the Bank or the uneducated buyer? Yeah, let’s blame someone ells for our poor judgement!!!!
May 25th, 2010 at 3:15 am
With all the …
With all the Catholics…I don’t see that happening.
Oh how I wish the population would decrease!
May 25th, 2010 at 3:15 am
It’s unbelievable …
It’s unbelievable the decline in property values we see across the country each day. It will be years before this market recovers, and that’s if you redefine recover! It’s a buyers market though if you plan to hang on.
May 25th, 2010 at 3:15 am
So staying at home …
So staying at home living with your mother is not so bad after all eh? hahahahhahaha
May 25th, 2010 at 3:15 am
We need 30 year …
We need 30 year fixed rate mortgages to be 2.5 % or less to survive this crisis. Fix Housing First.
May 25th, 2010 at 3:15 am
Realtors …
Realtors participate in the scam. They stress “comps” when valuing a house, and then manipulate the comps prices.
May 25th, 2010 at 3:15 am
Nice Vid. I …
Nice Vid. I enjoyed it. We market properties and other things on youtube, we hope to create a large network of people interested in making money. Your video gets a five star rating from us. I hope you feel the same about ours.
May 25th, 2010 at 3:15 am
Whoa, how would a …
Whoa, how would a bank or a mortgage holder allow a lease to own contract?? There’s something really fishing going on there.
May 25th, 2010 at 3:15 am
That’s when you …
That’s when you burn the down, and let the state clean the up.
May 25th, 2010 at 3:15 am
I think we looked …
I think we looked at the same house!
May 25th, 2010 at 3:15 am
then of course …
then of course people dont pay their tax on the house they walked away from, renters dont pay that tax. So an empty house no one wants just sits their. I knew CA was screwed a few years ago when I looked at a little box house that was 400,000 in a bad area with bars on the windows and gang type mexicans living next door.
May 25th, 2010 at 3:15 am
Supply being fixed …
Supply being fixed does make the asset go up in value all the time. If demand decreases (e.g. if fewer people have babies and population declines) then land prices will go down.
May 25th, 2010 at 3:15 am
heh yesterday i and …
heh yesterday i and my sister buy two house in Kodiak AK 250k usd for each is great place for summer vacation,but for living beter Europe
May 25th, 2010 at 3:15 am
“Real estate never …
“Real estate never goes down” is a lie but the words themselves make it a double lie because they obscure what is really going on. Real estate is improvements and land. Improvements, i.e. houses, don’t go up in value because they depreciate and their supply is constantly increased by builders keeping cost/price stable. It is land value that goes up because its supply is fixed. It is land value that is bid up sky high and comes down in periodic “real estate” booms and busts in an 18 year cycle.
May 25th, 2010 at 3:15 am
unless you get a …
unless you get a place in an area where it would be easy to rent. ie. hospitals, universities, large business areas.
May 25th, 2010 at 3:15 am
Ironically, I paid …
Ironically, I paid cash for my house or rather,’project’ and paid in full, but with the increase expense of construction supplies, gas, hydro, taxes, fees etc. from all the hoopla created by the housing boom, I ended up selling anyways -It just wasn’t worth the time and money in the long term
May 25th, 2010 at 3:15 am
Isn’t this what …
Isn’t this what real estate people were saying in 2006?
May 25th, 2010 at 3:15 am
Thanks. You are …
Thanks. You are correct. Please continue dispelling the lies of the realthores.
Here’s one more tidbit:
Housing prices over time appreciate about 0.3% ahead of inflation which is essentially nothing. Just something to think about when making an “investment” in real estate. You get a better deal if you put your money in a bank money market fund.
May 25th, 2010 at 3:15 am
If your in one of …
If your in one of those areas where prices have declined 40 to 50%, and appreciation goes back to historical rates before the bubble, you can expect to only appreciate 2 to4% a year. It will take a long time, more then most people stay in one house to recoup.
Don’t listen to real estate agents. They are dopes. They know little about the market. Most only know how to list a house. Besides, 10 years is not ling at all, especially if the last 6 to 7 were in this bubble market.
May 25th, 2010 at 3:15 am
This is not true. …
This is not true. Value is down all over. Appreciation for the previous years, start of the bubble 14 to 20%. Now it is burst, along with it, easy credit that caused it. It could be a long time before you get what you paid for your house. Your house WON’T appreciate like it had, because the easy credit is not there
If you are in a long foreclosure state, pocket the money until they evict you then go buy a house the same as the one you left for half the price…..in 5 years after this is over.