- On 29 Apr 2013
in
SoCal bidding wars and outrageous contingencies,
PockyClipsNow said:
What is the price point you are bidding in? (must look at over 900k to avoid the GSE,FHA crowd)
Also please let us know if you are using a buyers agent(kiss of death) or letting listing agent represent you.
- On 11 Apr 2013
in
Friend is a serial cheater, he has wife and kids... should I rat him out?,
PockyClipsNow said:
what is 'rub beards'? urbandictionary doesnt have it.
Funny thread but be aware if you interfere with a mans marriage/children that is 'declaration of war' and you might not like the rules he plays by.
- On 11 Apr 2013
in
Housing's Big Challenge: $1 Trillion in Student Debt,
PockyClipsNow said:
Baby Boomers retiring and downsizing, and Millennials so far up in their eyeballs in student debt, and housing prices have no where to go but down.
And if those Millennials do manage to move out of their Boomer parent's house, the Boomers are going to want to liquidate to fund their retirements after the chained-CPI Social Security adjustments start. Them Boomers don't have much savings.
How can housing prices do anything but crash and then stay low for 20 or more years?
How about ever lower mortgage AND ever lower student loan intrest rates? this will save the maximum amount of people. Both sellers and buyers and student loan debtors. Thus this has been and will be the path forever.
Good luck betting on high interest rates. IT WONT BE ALLOWED!
If they tried people would demand low rates. The huge numbers of democracy is weighted toward this current regime and the forever zirp. - On 11 Apr 2013
in
Proper Etiquette to Change Agents?,
PockyClipsNow said:
Just remember if she physcially showed you (let you into) any house then you will have to submit the offer through her or you are in breach of contract. Contracts do not have to be signed to be legal.
Just by letting her unlock a door, you have opened a legal minefield.
Now if you dont want to make an offer on anything she showed you, no probs. - On 11 Apr 2013
in
Friend is a serial cheater, he has wife and kids... should I rat him out?,
PockyClipsNow said:
Why would you ever consider for a second 'snitching' on someone?
Unless he is about to committ immenite murder you better keep mouth shut.If you snitch, everyone will hate you. His wife, your wife, his kids, your kids, him and also yourself. End the end, his wife wont leave him anyway I would predict (thats how it goes he has charisma+money - very rare.)
Also this is a good start to a murder mystery plot - you dont want your life turning into a drama you cant even handle keeping a secret dude, imagine getting late night harrasing drunken phone calls and death threats to you and your family? You really have no idea what people will do when you betray them like you are considering (snitching).
- On 4 Apr 2013
in
How the Fed fueled subprime auto loan explosion,
PockyClipsNow said:
I love this business model. Get the people to put down as much dp as possible, then take back the car after they default and 'sell' it to somone else, repeat 20 times with same car.
$$$$$$$
- On 4 Apr 2013
in
FHA rules changes effective april 1st,
PockyClipsNow said:
Luckily for many of these people thier loans dont live that long before they default and kill it - then get a HARP mod/refi.
- On 3 Apr 2013
in
Home prices still 50% too low in Bay Area - rent STILL cost twice the mortgage.,
PockyClipsNow said:
coastal cali is easily 60 to 90% land value. the value sure isnt in the 1962 crap shack.
- On 3 Apr 2013
in
Seven indicted in builder bailout scheme,
PockyClipsNow said:
I guess the banks are innocent victims here. hahahahaha.
They had no way AT ALL of determining these loans were fakeI mean the numbers on the paperwork added up correctly, what else could they do?
- On 3 Apr 2013
in
How to Handle a Used House Phone Scammer?,
PockyClipsNow said:
Just tell them you are also a realtor. watch them hang up asap as they cant drink blood from each other, it must be from the living.
- On 3 Apr 2013
in
Home prices still 50% too low in Bay Area - rent STILL cost twice the mortgage.,
PockyClipsNow said:
Well I got two triggers:
#1 fat profit = sell
#2 fat profit + tax free sale after owning it 2 years = sellI've been lucky with this 'sell when you get a fat profit' strategy. I learned it watching many many people get burned on stock options during the dot com bubble who had a few mill, then not so much a year later....
- On 3 Apr 2013
in
This Noe Valley fixer went for nearly $500k over asking.,
PockyClipsNow said:
trulia says its worth 2m.
that guy got a steal!
http://www.trulia.com/homes/California/San_Francisco/sold/7103842-891-Noe-St-San-Francisco-CA-94114
Now lets make comments how its a deal compared to a 1.5m apartment in manhattan. lol.
- On 3 Apr 2013
in
Home prices still 50% too low in Bay Area - rent STILL cost twice the mortgage.,
PockyClipsNow said:
It only makes sense to own when prices are going up, the 300k I expect to make is giving me koolaid eyes (red punch flavor the best one!).
No one can refute the fact that if prices are going up double digit, you want to be sitting on that asset.
- On 3 Apr 2013
in
Home prices still 50% too low in Bay Area - rent STILL cost twice the mortgage.,
PockyClipsNow said:
If anyone wants to pay me to post please PM me! lol
I have a degree in Dumbshillery with an emphasis on Oververbosity.
- On 3 Apr 2013
in
TV show I just found "World's Worst Tenants",
PockyClipsNow said:
Great it's on Spike, so I'm not in any danger of ever seeing an episode.
As I ditched cable, for this very reason. The incline of mindless bullshit shows, and the decline or lacking of any thought out scripts or documentaries.
Oddly enough how ever, OTA broadcasters, are creating shows with high production value, well written scripts, and big name Actors from the silver screen.
The more I watch OTA television, the more apparent that OTA has become what cable used to be. Even the myriad PBS channels show documentaries that are ten times better than any Discovery production in recent years. As every discovery production, turns into a global warming narrative with in the last 20 minutes, even if its a documentary on Valley Forge.
So the main reason you cancelled cable was to decrease your carbon footprint? Or did I read that wrong? lol
- On 3 Apr 2013
in
Obama Pushes 'to Make More House Loans Available to People With Weaker Credit',
PockyClipsNow said:
I'm in bubble mode now, bring it on!
- On 3 Apr 2013
in
Home prices still 50% too low in Bay Area - rent STILL cost twice the mortgage.,
PockyClipsNow said:
I was perfectly happy renting an apartment when house prices went down yearly from 06 to 2009 or 10.
If you are renting and watching prices rise in the double digits for years on end that will make you crazy and poorer than if you rode the home equity train up the hill.
Its all risky. Ben is inflating both stocks and RE with all this printing/mbs buying so I guess both are good bets at the moment. I fuking hate stocks and all publicly traded companies with their overpaid CEO's and mega bonuses - so I choose to live in a big house as my speculative investment instead. If prices tank I'm ok, if they go up im more than OK.
Buying a house is a pretty good move to keep up with inflation mostly.(and by inflation i mean house price inflation!)
- On 3 Apr 2013
in
There just might be a problem here...,
PockyClipsNow said:
Well there arent too many other RE boards with 'anything goes' basically minimum moderation. Although the level of discourse here is typciallly super low. Most posters who 'know everything' dont even know what a cap rate is and how it relates to RE.
- On 1 Apr 2013
in
Home prices still 50% too low in Bay Area - rent STILL cost twice the mortgage.,
PockyClipsNow said:
I actually got a 5 year IO ARM on my house. I only used the 3 year in the example because its common to move every 2 years, then you got an extra year which seems safe.
We know the pattern that established from last bubble:
buy and then every 2 years sell for tax free gain to trade into better house
repeat
repeat
..
bankruptcy and/or foreclosure/loan mod/short sell etc.The IO arm loan is perfect for such a lifestyle. The bubble jumping job hoppers like me will appreciate it.
- On 1 Apr 2013
in
Goodbye California? Phoenix?,
PockyClipsNow said:
Yeah the valley is a great bargain in LA county. Check out burbank, porter ranch, maybe as far as thousand oaks if you want to be in ventura county.
- On 1 Apr 2013
in
Feel like I missed the boat in the bay area,
PockyClipsNow said:
Make sure to spend a week in winter in the new area. If you grew up in LA like I did you really don't know what the winter really means. Living daily in cold is different than a ski trip which is fun and games. It feels like a prison where they dont let you outside, you never see the sun for weeks on end. Once you are ready to kill yourself there will be one nice day which reminds you of california and you will wish you had not moved.
At this is how I felt moving to Austin TX.
I think some people are couch potato family homebodies and they dont care so much as they are not active jogging, hiking, etc. - On 1 Apr 2013
in
Home prices still 50% too low in Bay Area - rent STILL cost twice the mortgage.,
PockyClipsNow said:
For this loan unionbank requires a 20%+ down payment.
I would have loved to do a zero down loan - the closest loan left is FHA and the rates and fees are high.I totally am going to sell this home in the next zero to two years. A 30 year fixed loan would have been dumb IMO.
- On 1 Apr 2013
in
Goodbye California? Phoenix?,
PockyClipsNow said:
You might consider a place that doesnt have wildly rollercoastering RE prices. Maybe Oregon or Idaho.
NM is cheap but supposed to the neck tattoo capitol of the country. ha. - On 1 Apr 2013
in
Goodbye California? Phoenix?,
PockyClipsNow said:
If you aren't trapped by a job/industry/family moving is a great option.
- On 1 Apr 2013
in
Home prices still 50% too low in Bay Area - rent STILL cost twice the mortgage.,
PockyClipsNow said:
You don't make sense.
How the hell do you pay under $2000 a month for a 1million home? Mortgage alone is going to be much much higher than that.
And taxes, property taxes aren't cheap. Your property taxes alone would be higher than most peoples mortgages around the country.
And I know you wrote some hypothetical scenario about %2.75 Interest Only Arm... but that is stupid. That is what got everyone in this country in trouble in the first place, not to mention I doubt any bank would take that kind of risk today.
Its not hypothetical, this is the loan I got!
If anyone wants this loan go to unionbank.com today and get it.