patrick.net

We will wait until next years SALES prices come out before we buy a house...LOL

What about Mexicans and people from other states dont you like?

I have had a tuff time getting the "sales" amount .... any good on-line short cuts?

Congratulations, everyone.
Wait for the forth quarter results. They are going to be even better.
What's even nicer - the total dollar amount of defaulted mortgages, which increases much faster than the number of cases.
Also the increase in the number of bankruptcies is very promising, it indicates that a lot of home-debtors were lured into preferring bankruptcy over foreclosure, that's temporary for sure. When this trend reverses we'll see a powerful implosion in housing markets and PRICES!

Wowza.. 76% change in foreclosures since q3 08 in Oregon. 176% in AL!

Yeah, some of the theories floating around a Portland Housing blog I visit is that the fact that Portland has had a lot of participation in the Alt-A department and since those folks have deeper pockets via 401K's, IRA's, relatives, other investments that these guys might be dipping into those 'saving' to save the house but at some point it's going to make more sense to walk away from the house before everything else is drained.

Yeah, this party is just getting started, IMHO.

What would they rent for?

OK, I lived for 6 years in the 92612 zip and was there recently.

We actually were going to rent a place in that neighborhood (Alcorn) and they are old, redone for the most part, but older 1970's construction. That neighborhood, along with Rainbow Ridge TH were the first to be built in Turtle Rock which gives you an idea of how old they are.

In 2003 we were paying $1850/mo for a 3/2 with attached 2-car in Turtlerock Meadows TH across from TR Park. This same unit/area is currently renting for $2100-2700/mo, depending.

For your home listed above, my educated guess is that you're looking at $2500-$3k/mo rent. Reason being, its proximity to UHS and UCI.

~Misstrial

What does this have to do with the housing crash forum?

I would love to invest in something, putting it in the market is riskier than gambling these days.

Anyone cacth front line last week? "The Warning" it about Brooksley Born the head of the CFTC warning that the derivatives market was a scam. She was silenced in a Congressional hearing on her findings, and six weeks latter the derivatives market collapsed. All of the folks that maliciously silenced her and told her and congress point blank that suckers are suckers and deserved to be robbed, if they can't see something is too good to be true and invest in those sucker bets. They saw it a great money maker and economy builder, robbing from hard working people investing in complicated markets they don't understand.

I guess that is why Greenspan sabotaged the Tech market it interfered with the financial market, which they had full control over. The tech market was a force out of their control, just the companies and the day traders investing in them. Banks had to watch billions being made and lost for the sidelines. (Unrelated I know, but I always wondered what was Greenspans motive for bringing down the tech industry as a whole, instead of just policing the scammers that over valued bogus companies. )

My point is there is no way I would invest in this market unless you a great understanding of the Fundamentally Challenged forces that are driving this market. It is not supply nor demand, nor is it fiscal profits.

I would invest in a private venture though, that has a good model and a plan.

My husband calls this his "we're gonna buy for cash" dance. In fact he does a little dance.
We don't have as much disposable income as you, (evidently) so it would be more like 2018 for us.

GMAC my mortgage holder (

Sorry all, I had a great one. The post (above) didn't go through. I don't have the heart to type it again. Have a Good One,

Dayum, and I had a witty comeback too.

I've taken a few thousand of the money I was saving for a down payment and bought some high tech start up stocks in web 2.0 and hydrogen technology.

I think that will return me enough money in the short term to pay outright for a house.

My friend Brian bought a two bedroom, mint condition house in rural Oregon for $36,000 (thirty six thousand...not missing any zeroes). I'm looking to do same.

I've been doing the same actually, except it's been since 1997 when I saw housing starting to bubble :(

Granted, now I have a few hundred k liquid, but it's going to take a few more years so save enough to buy outright in the bay area.

Either way, I'm not touching anything. This market is ridiculous and is ripe for a fall.

I should add "this housing market and our economy" is ripe for a fall. I really have a bad feeling the next 10 years + are going to suck something fierce.

Decreasing prices in electronics is not deflation. Prices of electrons have steadily decreased for about 50 years, despite 50 straight years of inflation.

Can't argue with prices and Laptops, PDA's by top manufacturers as well as HDTV have never been more affordable and for the most recent models.

Oh jeez, another soothsayer that knows how EVERYTHING pans out in the next couple of years. who wins the Superbowl in 2012 ? Ok , that is three years but still valuable info regardless. Please say

theoakman says

Decreasing prices in electronics is not deflation. Prices of electrons have steadily decreased for about 50 years, despite 50 straight years of inflation.

LOL! Sarcasm.. thats good.. here is a blast from the past.
It cost $9K back in 89, of course it also paid everyones salary. Now the same product (netbooks) are a tiny fraction. There is no one in SV who can control prices.. not even Google or Oracle.

This is 2640 Broadway in San Francisco, between Scott and Normandie. It also happens to be Nancy Pelosi's house. Looks like she can afford to pay for everybody's health insurance all by herself!

Seller Facts: Single family 3 beds 3.0 bath 1,800 sqft Lot 100,536,480 sqft ???????? Built in 1990 Seller's Description: Elegant home in the heart of Menlo Park. Short walk from downtown. Designed by award winning architect,Roger East. Enter a beautifully secluded inner court past a tranquil pond to your front door.Green design with active and passive solar heathing.Crafted with the finest materials. This is sophistication and comfort in exclusive tri-level living. THIS LOOKS ABOUT right! I can afford it. It's listed on Zillow for $4,100 dollars. At this price mortgage is an affordable $17/month. Maybe its a mistake? But even a homeless person might be able to swing the payments on this one. A part time job as a custodian at McDonalds at about 2 hours per week would qualify you to buty. But what about health insurance costs? food? It does look cheaper than rent. Maybe I could rent it out to someone for $50/month and keep the extra $33 dollars? Here is the link on zilllow http://www.zillow.com/homedetails/827-Fremont-St-Menlo-Park-CA-94025/15595854_zpid/ %

Seller Facts: Single family 3 beds 3.0 bath 1,800 sqft Lot 100,536,480 sqft ???????? Built in 1990 Seller's Description: Elegant home in the heart of Menlo Park. Short walk from downtown. Designed by award winning architect,Roger East. Enter a beautifully secluded inner court past a tranquil pond to your front door.Green design with active and passive solar heathing.Crafted with the finest materials. This is sophistication and comfort in exclusive tri-level living. THIS LOOKS ABOUT right! I can afford it. It's listed on Zillow for $4,100 dollars. At this price mortgage is an affordable $17/month. Maybe its a mistake? But even a homeless person might be able to swing the payments on this one. A part time job as a custodian at McDonalds at about 2 hours per week would qualify you to buty. But what about health insurance costs? food? It does look cheaper than rent. Maybe I could rent it out to someone for $50/month and keep the extra $33 dollars? Here is the link on zilllow http://www.zillow.com/homedetails/827-Fremont-St-Menlo-Park-CA-94025/15595854_zpid/ %

I built this house in 1999 for $135k, or $57sf. It peaked at $189sf (I sold @ $154sf). The house next door is listed for $62sf. Oh, the American dream of home ownership. BULL SHIT!

The dream of home ownership isn't bullshit. What's bullshit is the dream of home equity.

I own that house. I wish I sold it about purchased gold. Oh well, I have to say I feel like a slave in my own country. I can never retire, I can't afford health care, I can't move. I think this is common

Bay Area (Pleasanton) transplant Best move I ever made. Only draw back is the number of CA's transplants is driving up home price and property taxes.

Dude, Shaw of Iran Built this casa, and then his family lived here prior to selling. Nice!

Bayside Commons

"TOKYO (Reuters) -- Sony Corp. posted a loss for the fourth consecutive quarter, hit by sluggish cellphone sales and as it cut prices of its PlayStation 3 game gear, but trimmed its full-year loss forecast close to market expectations.

Sony's mobile phone joint venture with Sweden's Ericsson saw its sales tumble and losses balloon as it has lacked a strong smartphone offering to rival Apple Inc.'s (AAPL, Fortune 500) iPhone and Research in Motion's (RIM) Blackberry." (which are also cheaper than a cup of Starbucks coffee)

So that's not Deflation, then what is your definition?

Many mortgage fraud homes available at inflated prices, even better, their backyard is the busiest road in south florida. robberies on the rise and cops are overwhelmed. this area is still way overpriced and is quickly becoming more unpleasant. you either have a full walled / gated property or you remove everything from your car before you lock up tight. sirens of ambulances and train noises are consistent as well.

Damn, view of the ocean too. It's good to be the king.

This is a toxic waste site in Henderson, NV they are currently excavating with plans to build residential homes on.

What kind of toxic waste? How do you know?

Big open pools of something out there on the photo. Henderson is already way overbuilt, i am guessing.

Actually the cty address is: Lake Clarke Shore and not Palm Springs. Lake Clarke is a small town with its own Police Dept etc....

I've got the addresses mostly automated through Google maps now. For some reason Google thinks it's Palm Springs.

Right on the former site of the Mustang Ranch!

This place has been abandoned for about a year. It sold for around $225,000 during 2007. Then briefly listed for $189,000 around the end of 2008 before appearing abandoned. The blackberries appeared to be growing into the side of the house this past summer, 2009.