patrick.net

As an investment property mobys are perfect, by the way. The old ones in particular.
- $50k purchase price
- finance it with an existing heloc @ 5.75%.. around $350 a month will pay it off
- upkeep won’t be that much, maybe $30 a month
- space rent $250 / month (includes tax)

- Total expense: $630 a month
- Rent income: $800 a month

The rate of return (4.08%) looks awful, considering that mobile homes tend to depreciate over the long term. (I know you can deduct depreciation)

Anyone know someone who buys aircrafts and rent them out and get positive cashflow? I heard that aircrafts appreciate over the long term.

Sorry for my bad grammer today... need proof-reading.

I am expecting more mobile park closures because of institutionalized greed. BTW, I consider mobile home living to be the worst of both worlds (buying and renting).

I thought the lead story for this thread was really plumbing the depths of bubble-insanity. Boy, was I wrong...

LA Times Real Estate Page 1 news:

"Bad Lands Now Hot Property"
tinyurl.com/czyt6

VALENTINE, Texas— For 19 miles, most of it bumpy enough to shake your bones, State Route 2017 runs down to the Rio Grande and the Mexican border.

"You could live there in a tent, if you could find your land," said Jeff Davis County Clerk Sue Blackley. "But you'd have to helicopter everything in."

Well, I guess they can build a town to serve "Border Watch" vigilantes. Or when the climate changes (The Day After Tomorrow?), people migrate to Mexico in droves. They can charge a toll.

Well, I guess they can build a town to serve “Border Watch” vigilantes.

Hmmm... I'm not so sure that nonviolently patrolling your county's borders (something the federal government steadfastly refuses to do) constitutes "vigilatism". I was thinking of joining one of the groups here myself, "Friends of the Border Patrol", founded --I might add-- by a latino, Andy Ramirez.

This could provide a name for the new settlement, though: "Minuteman Flats".

HARM, I totally support the border watch program. It is just that for some reason the federal government calls them "vigilantes". I guess I have misplaced the quotes. It should have been Border Watch "vigilantes".

Np, Peter (had me worried there a sec ;-) ).

A lot of people are hearing the reflexive "V" label and "rascism" charge from left-wing immigrant-activist groups, which then gets picked up and looped by the press and so on... Although some of the groups have attracted a, shall we say, "stridently nativist" element, I believe they are a very tiny minority and get weeded out quickly.

@Nanter,

So, do you view the desire to see our nation's border laws enforced as vigilantism? I'd call it civic activism and common sense.

Nanter, btw I'd prefer the government do its job and patrol the borders. Unfortunately, in reality what we have is an open-door (or more accurately an open "back-door" policy) that benefits agri-business, hotels, construction, etc. to the detriment of our infrastructure, tax base, wages and overall standard of living.

I am *not* against raising immigration "quotas" or abolishing them altogether. I don't agree with tacitly rewarding habitual law-breaking, however. And I think that applies as much or more to the businesses that exploit poor immigrants as the immigrants themselves.

if you speak Spanish, watch Univision News Channel, they show how these “patriotic” bastards shoot children now.

Max, Nanter,

If actual registered Minutemen were really shooting children, wouldn't this be splashed across every newspaper in the country? (L.A.Times/La Opinion would love for this to happen, I'm sure.) This would immediately discredit the whole movement, so my guess is these stories are either (a) bogus agit-prop, or (b) about unaffiliated rascist morons who claim to be "minutemen" but are really acting alone.

Anyway, you're right --we're getting OT here. Welcome to the blog!

Nanter, thanks for the intro.

I'm a 37-yr old IT guy renting in an L.A. suburb, facing an almost identical dilemma. My wife & I want to leave SCAL for better quality of life/cheaper housing/less population density, traffic, etc. But, as they say, "you better take your job with you." Starting over in a new place (much less a career change) is hard but often necessary when we want to improve our lives. I wish you success.

How do Border Watch programs differ from Neighborhood Watch programs that are widely supported by homeowners everywhere?

Shooting at unarmed people is obviously wrong. If that is actually the case those individuals should be punished to the fullest extend. However, there is nothing wrong about simply watching and reporting.

I believe we should allow more legal labor workers into the country. This is perhaps better for California as well as the migrant workers. However, I strongly oppose the creation of a quasi-legal underclass.

These terrorists should be prosecuted. How can one violently break laws in the name of upholding law?

Max,

No, I hadn't read about the Hal Netkin incidents. He sounds like a real whack-job. Anyone who commits random violence in the name of religion/patriotism, etc. seriously "has issues" and should go to jail. Again, I don't think he's representative of the average citizen upset over illegal immigration (and the exploitation thereof by big business) any more than an extremist MEChA-type is representative of all Mexican-Americans.

What’s the big deal if illegals come to work here anyway? Let’s not pretend we don’t need cheap labor.

Well, for one they're here illegally. I realize that doesn't seem to count for much anymore, but if you've ever spoken to someone who's actually tried to immigrate here legally (and had to deal with the Byzantine red tape & bureaucracy), then you might understand why this matters to some. Aside from "cutting in line", there's also the issue of the impact on taxes, wages and overall economy. Apologists for big business (who love cheap tax-free exploitable labor) and immigrants-rights activists tend to downplay these impacts as insignificant. The current state of our schools, hospitals and infrastructure in CA indicates otherwise.

Again, if big business is really so concerned about there being a labor "shortage", then why don't they back increasing or eliminating (legal) immigration quotas? A: Because they hugely profit from the status quo. Having to pay legal immigrants a fair and living wage + benefits, or even worse, having them *gasp* join unions is an anthema to big business. They want no part of it.

Anyway, sorry to the rest of the bloggers for the digression. Back to housing?

Fake P, glad to hear from you.

My prediction is progressing as expected so far. More and more people are now quoting October as the beginning of the end.

Fake P, can you please stick around. We have been missing you so much.

Fake P, can you please stick around. We have been missing you so much.

Yes, please. Sauce is no substitute for the "real deal".

October might be the beginning for bay area, but I think in SD, it has already be gun. I’ve seen houses reducing in price and sellers under listing the other sellers.

I know. The SD market has been stagnant for months.

There should be a well-defined documented process for everyone who wants to come to this country and it’s ok not to allow everyone or anyone for that matter. But let’s have clear rules and let’s enforce them properly. 4-5 years of processing time for skilled professionals and tacitly encouraging people to risk their lives and to cross borders is not good for anyone. It’s a great country but the immigration process needs a total overhaul.

I absolutely agree.

It is unacceptable for a government to encourage law-breaking through deliberate non-enforcement.

Dipanjan, make sure you are in touch with the immigration lawyer from time to time.

Knowingly allow illegal behaviors through non-enforcement or under-enforcement forces legitimate business/individuals to compete with entities with illegal advantages (illegal immigration, cash-businesses not paying tax). This is unacceptable.

I have no problem bending rules... but law-breaking should never be encouraged.

Do you guys think that the minimum wage system is to be blamed? It is probable another "protective" mechanism that is producing the opposite results. The market will prevail in the long run.

iceman, are you being sarcastic?

@MP
It just closed today for $100K over asking. Not bad for $1.31MM.

The marketing and sales of a property is always an interesting dynamic.

For example:-
A seller may underprice their property to generate a bidding war (sometimes achieving a price better than expected). It may appear that the final price was alot better than expected....

Also, the buyer may have been willing to pay more, but since there were no other interested parties, the seller may not have achieved the absolute maximum.

Likewise, the buyer may have overpaid as the seller was asking for a lower price.

In summary, prices achieved will be a mix of sales, marketing, and supply and demand.

BTW, if the seller truly did achieve a price better than expected, then
WELL DONE...

AntiTroll,

May as well save your fingers. Sauce doesn't read or listen to other people, he just spews. Your arguments and subtlety is completely lost on him.

How much above asking do ya think this one will go for?

Best way to work out expected selling price is to compare similar properties recently sold.

BUT, I think this property could be truly unique.

Can you sure that nobody is living there?

May as well save your fingers. Sauce doesn’t read or listen to other people, he just spews. Your arguments and subtlety is completely lost on him.

Hopefully, others will see that the only real data to work with is the final price, as most other data does not really matter.

TWIT: How much it will go for depends upon the value of the lot less the cost of debris removal.

TWIT

Why would we vote you out? That is priceless.

How much above asking do ya think this one will go for?

There are probably mountain people living there. Think Deliverance or Wrong Turn. Anyone trying to move in may be eaten.

You could also be eaten by bugs and critters in that house.

Seriously, though. I looked at the listings on Realtor.com and found that Homes listed in West Hills for up to $2 million. A 2,500 sq ft home looks like it would go for over $700K. So if you could build for less than $400k you would make a profit.

The buyer should throw a mobile home on the property and sell it for $1 million.

Your first day at your new home would involve driving a bulldozer.

Perhaps you could arrange for the fire dept to have a practice burn, and burn it to the ground while practicing their fire fighting skills.

The buyer should throw a mobile home on the property and sell it for $1 million.

How about a 360-degree panoramic poster with the view of Malibu surrounding the mobile home? Ocean view!

Perhaps you could arrange for the fire dept to have a practice burn, and burn it to the ground while practicing their fire fighting skills.

Also getting rid of mountain people or bugs or critters.

Especially the bugs.

Oh well, if it has granite counter tops, I'm in!

If I were the seller, I would only show an "artist's impression" of the house. Any defects would be hidden nicely behind impressionist color dots.

Think Deliverance or Wrong Turn.

Or, new movie set for "The Beverly Hillbillies"