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2017/09/25 [General] UID:1000 Activity:popular
9/25    

2013/8/1-10/28 [Reference/RealEstate] UID:54722 Activity:nil
8/1     Suppose your house is already paid off and you retire at 65.
        How much expense does one expect to spend a year, in the Bay
        Area? Property tax will be about $10K/year for a modest $850K
        home. What about other stuff?
        \_ I think at age 65, health insurance is the next biggest expense.
        \_ I am thinking that we can have a nice middle class
           lifestyle for the two of us on $40k/yr. Maximum Social
           Security is about that, but I intend to have enough
           saved that I will be fine even without SS.
2013/7/31-9/16 [Reference/RealEstate, Finance/Investment] UID:54720 Activity:nil
7[31    Suppose you have a few hundred thousand dollars in the bank earning
        minimum interest rate and you're not sure whether you're going to
        buy a house in 1-5 years. Should one put that money in a more
        risky place like Vanguard ETFs and index funds, given that the
        horizon is only 1-5 years?
        \_ I have a very similar problem, in that I have a bunch of cash
           I need to use for a remodel in the next 1-3 years. I don't
           know for sure what to do with it, but I think that the
           stock market is too risky for something that you really
           want. I am probably going to put it into CSJ. Let me know if
           you come up with a better plan.
           \_ why are you waiting for remodeling? It's not like the cost
              of remodeling will fluctuate wildly like stock or even
              real estate.
              \_ It takes a while to get the architect to write the plans,
                 get it through planning, etc. We got the money by
                 taking a second out on our house and wanted to lock
                 in interest rates now.
2013/7/29-8/23 [Reference/RealEstate] UID:54716 Activity:nil
7/28    Mountain View, the not so pretty side:
        http://mv-voice.com/news/show_story.php?id=7189
2013/6/3-7/23 [Reference/RealEstate] UID:54685 Activity:nil
6/3     Why are "real estate" and "real property" called so?  Does the part
        "real" mean something like "not fake"?
        \- without going into a long discourse into common law,
           it is to distinguish land/fixed property from intangible
           property [like a patent] and movable, personal property,
           like your car. Real property has historically had special
           rules, like needed written contract to sell/xfer.
           Somewhat curiously, tangible/"movable" property
           is also called "chattels", however you may get some
           odd looks if you use that word ... but that word doesnt
           just apply to cows. There is a lot of detail in this
           book, ... like "what is the difference between disseisin
           and novel disseisin" ... however it may be OOP:
           http://www.amazon.com/Law-Land-Evolution-Legal-System/dp/0671243225
           See also "actual malice".
           --psb
           \- BTW, one of the primary reason for the distinction between
              real/personal property, is that until the mid-16th cent, real
              property *could not be handed down in a will*, while
              personal property could be. This was partially solved
              by something called "livery of seisin", which had it's own
              problems, until eventually addressed by the Statue of Wills
              under Henry VIII ... something you probably didnt learn
              watching THE TUDORS. (again, I'm speaking of england, which
              is most relevant to the US. And the only area I am familiar
              with).
          \_ Is your wife still considered chattel property?
             \_ Not in California.
                \_ How about in Texas?
2013/3/21-5/18 [Reference/RealEstate] UID:54634 Activity:nil
3/21    Holy crap is Bay Area real estate on fire right now. I keep
        getting outbid by hundreds of thousands of dollars on places.
        \_ does more home-owners mean fewer people will be renting,
           driving the demand for rental down?          -poor renter
           \_ I am kind of doubting that, but it might work.
        \_ what is the zip code that you're bidding on?
           \_ 94114, 94131
2013/3/11-4/16 [Reference/RealEstate] UID:54622 Activity:nil
3/10    I'm trying to help my parents, in their mortgage there's an
        "escrow" amount. What exactly is this? From reading Google,
        the loan company uses the escrow account to pay for home
        insurance, but they've been paying home insurance themselves.
        I'm really confused on what this fee is.
        \_ Without an escrow account, you write checks to your insurance
           company and the County yourself to pay for the insurance and
           property tax.  Your (usually) monthly mortgage payment stay fixed
           property tax.  Your (usually) monthly mortgage payment stays fixed
           for the duration of the loan.  With an escrow account, your
           mortgage bank sends money to your insurance company and the County
           at the right time to make those payments.  Your (usually) monthly
           mortgage payment is increased by approximately 1/12 of the annual
           insurance premium and property tax.  You receive interest for the
           money that is sitting in your escrow account and hasn't been
           applied to those payments.  At the end of each 12-month period,
           you'll need to make extra payment to the escrow account if the
           mortgage bank under-estimated your insurance or property tax
           amounts by too much, or you'll receive a refund if the bank
           over-estimated by too much. The bank will also re-estimate the
           amounts for the subsequent year, and adjust your monthly mortgage
           payment accordingly.
2013/2/19-3/26 [Reference/RealEstate] UID:54610 Activity:nil
2/19    I just realized that my real estate broker has a PhD in plant
        molecular cell biology from an Ivy League school in the mid 70s.
        Now she has to deal with a bunch of young dot-comers, and they're
        pain in the ass.                        -Only a BS in EEC$
        \_ My agent used to be a hardware engineer.  He switched to real estate
           when he got laid off during the 80's.  Now he's doing very well.
        \_ Are you trying to buy a house too? I am trying to buy in Noe and
           I keep getting outbid by 200-300k. Insane.
           \_ Here in the suburbs, homes are cheap and plentiful for all!
2017/09/25 [General] UID:1000 Activity:popular
9/25    

2012/12/21-2013/1/24 [Transportation/Car, Reference/RealEstate] UID:54567 Activity:nil
12/21   Is it possible to use my Fastrak on a rental car?
        \_ Don't know if you're supposed to, but I think it works under normal
           situation (i.e. you're not speeding, your windshield doesn't block
           the signal, etc.)  The problem is that if the reception is bad and
           the toll tag doesn't beep, the booth will take a picture of your
           rental's license plate and fine the rental company because the
           vehicle is in violation.  Then the rental company will make you
           pay.
           pay the toll plus the penalty.
        \_ I have done it plenty of times. -ausman
2012/8/21-11/7 [Reference/Law, Reference/RealEstate] UID:54462 Activity:nil
8/21    I'm trying to negotiate rent renewal and my manager came
        back saying she can't do that due to Fair Housing Laws
        that states that if they adjust price for one person
        they need to adjust price for everyone else. Is this
        an actual law or some bullshit she just made up?
        \_ Probably bullshit.
        \_ LOL, BS. You can negotiate rental once the lease is up, unless wherever
           you live has some weird housing laws.
        \_ LOL, BS. You can negotiate rental once the lease is up, unless
           wherever you live has some weird housing laws.
        \_ http://www.echofairhousing.org/images/FairHsgLaw.pdf
           The law prohibits setting different terms, conditions, etc...
        \_ I am a real estate broker. You can set different rents for different
           tenants. She is full of shit. The Fair Housing Law is about
           race, color, religion, sex, and so on. For example, you can't charge
           more to an Asian tenant than a white tenant based on race. However,
           you sure as hell can charge different rents to tenants if there is
           no discrimination.
2012/5/25-30 [Transportation/Car/RoadHogs, Reference/RealEstate] UID:54400 Activity:nil
5/25    Sorry suburban hicks, properties in walkable cities retain
        better values:
        http://dc.streetsblog.org/2012/05/18/study-resilient-walkables-lead-the-housing-recovery
2012/3/1-26 [Reference/RealEstate] UID:54324 Activity:nil
3/1     So much for George Bush's http://en.wikipedia.org/wiki/Ownership_society
        http://www.nytimes.com/2012/02/25/business/homes-arent-selling-but-its-an-apartment-landlords-market.html?_r=1&pagewanted=all
2011/12/15-2012/2/6 [Reference/RealEstate, Industry/Jobs] UID:54260 Activity:nil
12/15   Does anyone have experience investing in apartment buildings
        I'm not really looking to invest, but I want an apartment
        to live in, and I'm not happy with the leases I'm encountering
        for instance one requires 2 years of tax returns with the
        application. I'm in a position to buy a building, but I've
        got no experience with this, and I don't want to learn that
        it was a bad by losing a lot of money. --jwm.
        \_ I bought a two unit building and live in the top. It has
           worked out pretty well for me. Email me if you want more
           info. -ausman
        \_ jsl and I run a small 4-unit, and have for a while.  Property
           management can be a lot of work. You could hire property
           managers to do it for you but it cuts into income. -mehlhaff
2010/7/12-23 [Politics/Domestic/Gay, Reference/RealEstate] UID:53881 Activity:nil
7/12    Y.M.C.A. is renaming to Y.?  Why?  (Pun intended.)
        http://www.nytimes.com/2010/07/12/us/12Y.html?no_interstitial
        \_ because M is oppressive patriarchy in action, and C is a bad
           word.  Probably they will get rid of Y as ppl live longer.
        \_ it will turn into http://AFGNCAAP.org
        \_ They should go back to their old name, U.S. Soc for Eugenics.
           \_ Gay club and eugenics don't mix.  They don't reproduce.
2010/1/12-25 [Reference/RealEstate] UID:53626 Activity:nil
1/12    http://economicsofcontempt.blogspot.com/2008/07/official-list-of-punditsexperts-who.html
        Who got the housing bubble wrong.
        \_ This post is good enough to be a news article on Yahoo Finance.
2009/11/29-12/8 [Reference/RealEstate] UID:53549 Activity:high
11/29   http://news.yahoo.com/s/ap/20091129/ap_on_sp_go_ne/glf_woods_accident
        "Police first went to his $2.4 million house ......"
        For a world's top athlete making hundreds of millions of dollars, isn't
        it strange that Tiger Woods lives in a mere $2.4m house?
        \_ No.
        \_ what's so weird about it? what makes you think that's the only
           house, residential property, or simply property he has? and even
           if he has 1 billion, why would it be weird to live in a mere
           2mil house? what can you get with a 20mil house that you can't
           with a 2mil house, in Florida?
           \_ seconded.  Go look at some FL real estate listings guys
        \_ Bill Gates drove a Toyota (then later a Lexus), Andy Grove
           drove a Saab, and Ikea founder drove a Volvo. Is that weird?
           \_ You're ignoring the not-street-legal 1/2 mil Porsche he kept
              at home.
           \_ I wonder if that's because the GPS on Toyotas and Lexuses runs
              Windows CE or XP Embedded or something.
           \_ I'd have thought that as the richest man on the planet, Gates
              always goes around in a convoy of bodyguards.
              \_ I heard he's afraid of pie attacks.
              \_ When I met him in the hallway at Wired Magazine, he only
                 had some woman and Steve Ballmer with him. I have heard that
                 he know travels with at least some security these days though.
                 he now travels with at least some security these days though.
                 \_ and you didn't take the opportunity to sucker-punch him?
                    \_ I stared at him for a while and considered spitting on
                       him, but then incorrectly decided that he was just some
                       poor SOB who had the misfortune to look like Bill
                       Gates. Afterall, what was the probability that I might
                       actually bump into him? Turns out that he was there for
                       a photo shoot.
                       \_ Good thing you didn't.  Bill Gates curse is even more
                          effective than Soda blacklisting you from Silicon
                          Valley.
                          \_ what the hell are you talking about? what
                             blacklist?
                          \_ Talking to people from Sun, I am pertty sure they
                             would have hired me just for that. Ellison probably
                             also.
                             \_ if you have to work at Sun or Oracle, you're
                                probably desperate for a paycheck, or
                                is an indentured^H^H^H^H^H^H^H^H
                                H1B visa holder who wants a greencard.
                 \_ I met a limo driver who insists who drove Gates and
                    his wife to his house in Rancho Santa Fe (or thereabouts).
                    They hadn't eaten so they wanted to stop on the way.
                    They went through the drive through at Burger King.
                    He claims Bill's wife pulled BK coupons out of her
                    purse which they used.
                    \_ as silly and improbable as this story sounds, it
                       is in fact consistent with what people say about
                       Bill Gates for many years.
                       \_ What's improbable about it?  The things that are
                          interesting about fast food remain interesting when
                          you have a ton of money. Chez Panisse doesn't have
                          a drive-through. And the coupon thing is about
                          personal pleasure in getting a perceived deal, it's
                          not about saving 25 cents.  -tom
                    \_ Can a limo actually negotiate the tight turns at a BK
                       drive-thru?
                       \_ ding ding ding, thanks for pointing out the
                          inconsistencies in this bozo's statements.
                          he is a suspect now           -monk
                          \_ not all limos are stretch limos.
                             \_ I'm not sure it was a limo. I should have
                                used the word 'chauffeur'. It could have
                                been a town car or even an SUV for all I know.
                                I didn't ask. I doubt it was an actual
                                limousine.
        \_ I have to say that I am pretty surprised. You'd think he'd
           have more property (=privacy). I am sure he owns a lot of other
           properties, but that's not the point.
           \_ A story about the world's richest man and his wife using coupons
              is funny.  Guess what, the world's richest man's time is more
              valuable than yours.  Why would he waste time cutting and redeeming
              coupons?  That's stupid.  I don't know why Sergei doesn't travel
              with an elite squad of hot blond Russian Spetnatz assassins.
              Eric travels with some security.  Who the hell let him go to Iraq?
2009/11/23-12/2 [Transportation/Car/RoadHogs, Reference/RealEstate] UID:53540 Activity:moderate
 11/23  "Warming's impacts sped up, worsened since Kyoto"
        http://news.yahoo.com/s/ap/sci_climate_09_post_kyoto
        \_ what do you propose we average Joes do about climate warning?
           Oh really? Yeah, exactly.
           \_ Make life choices which reduce your carbon impact.  Communicate
              with your representatives that you consider this an important
              and urgent issue.  What else would average Joes do about
              anything?  -tom
              \_ the average Joe will not give up his/her SUV and living
                 in suburbs and ex-urbs (which are the reasons that increase
                 our needs for energy).
                 \_ Some average Joe/Jane won't give up loving in suburbs
                    while willing to give up his/her SUV; Some average
                    Joe/Jane won't give his/her SUVs while willing to
                    telecommunte twice a week; some average Joe/Jane won't
                    telecommute while willing to become vegetarian; etc.
                    And, like you said, some average Joe/Jane won't give up
                    anything.  Ideally, the problem can be very easily solved
                    by everyone giving up N things.  But very few people in
                    the free world would be willing to do that.  So we'll have
                    to rely on most people giving up 1 or 2 things out of their
                    own list of N things.  (For me, I didn't give up living
                    in suburbs.  But I wear a jacket at home in winter instead
                    of turning on the heat, use a fan in summer instead of AC,
                    line-dry my laundary in the backyard instead of using the
                    gas dryer, skip the plastic or paper bags when grocery-
                    shopping, gave up my SUV and got a Prius, and literally
                    dig through the household trash to find recyclable and
                    compostable items that my wife and in-laws fail to
                    separate out.) --- OP
                 \_ The average Joe will do whatever is effectively marketed
                    to him.  SUVs and suburbs have been effectively marketed
                    to average Joes.  We are starting to see better marketing
                    of environmental and quality-of-life issues, but we need
                    more.  Also, we need to stop subsidizing carbon production,
                    which is where legislative action is needed; if the
                    suburb dwellers were paying the true cost of their
                    lifestyle, it would be much less attractive.  -tom
                    \_ I get what you are saying, but this could be said
                       about any group. "Bike riders will do whatever is
                       effectively marketed to them".  Otherwise the
                       marketing wouldn't have been effective. -- jwm
                       \_ That's a bit tautalogical, sure.  But my
                          point is that the idea that everyone should
                          live in a big house in a faceless suburb
                          with two SUVs (or now, an SUV and a Prius)
                          is the result of 60 years of corporate
                          marketing, and corporations are really the
                          only beneficiaries.  Just as corporate marketing
                          changed what the average Joe wanted, marketing
                          of social responsibility can change what the
                          average Joe wants.  -tom
                          \_ I agree. The way we as a society have used
                             marketing has been damaging. --jwm
                          \_ I'm sorry, but I cannot agree that "corporations
                             are really the only beneficiaries." I really
                             like having land around my house. I use it to
                             grow food, for recreation, and for privacy. I
                             went to my coworkers ultra-chic condo which
                             cost over $1M and had koi and Italian fountains
                             everywhere, but I wouldn't care for living in
                             close quarters like he does. He even told me
                             he is looking for a single family home for
                             various reasons all related to the density of
                             the housing. You may think there's no benefit
                             to a SFR, but millions of Americans disagree
                             and that is how most Americans lived 200
                             years ago. I think that mixed-use/loft/high
                             density housing is something pushed on us by
                             corporations and SFR more closely reflects
                             the rural areas most Americans lived in prior
                             to the Industrial Revolution.
                             \_ Who said anything about condos?  I live in
                                a house in a city (Oakland).  -tom
                                \_ Plus the Richmond and Sunset Districts in
                                   SF are also primarily houses.  -- !PP
                                   \_ So are Hancock Park and Beverly Hills
                                      in LA, but most people can't afford
                                      to live there. If they want a nice house
                                      with land they have to leave the city.
                                \_ The complaint was against a "big house in a
                                   faceless suburb." How can you possibly
                                   argue that a big house in Oakland is
                                   somehow superior to a big house in a
                                   suburb like Lafayette? Same damn thing.
                                   \_ 1) The house in Oakland is smaller.
                                      2) The house in Oakland requires less
                                         driving.
                                      Pretty simple, really.  -tom
                                      \_ Neither of these are necessarily true.
                                         \_ They are both true as averages.
                                             -tom
                                            \_ They don't _have_ to be.
                                               These are external to the
                                               idea of suburbs. You can
                                               build smaller houses in
                                               the suburbs. You can take
                                               BART to SF from Lafayette
                                               as surely as you can from
                                               Oakland. One thing you _cannot_
                                               do is build affordable SFR in a
                                               city, which takes us back
                                               to condos.
                                               \_ You're right, if reality were
                                                  completely different than it
                                                  is, houses would be smaller
                                                  in Lafayette and people
                                                  in suburbs would drive less
                                                  than people in cities.  But
                                                  on this planet, houses are
                                                  larger in suburbs and people
                                                  drive more.  -tom
                                                  \_ I think you need to
                                                     focus on the problems
                                                     you are trying to
                                                     address and "suburbs"
                                                     and "housing density"
                                                     are not them. You can
                                                     live in the city and
                                                     drive a lot (reverse
                                                     commute, which some
                                                     people do) and you
                                                     can build a huge
                                                     energy sucking house
                                                     in the city, too, if
                                                     you are rich.
                                                     \_ I said "make life
                                                        choices that reduce
                                                        your carbon impact";
                                                        someone else asserted
                                                        that "average Joes"
                                                        would not give up
                                                        their SUVs in the
                                                        suburbs.  I'm pointing
                                                        out that that assertion
                                                        is unfounded.  -tom
                             \_ I think that most people want both the
                                advantages of density (short commutes, walkable
                                neighborhoods, more community) as well as lots
                                of space for themselves personally. Most people
                                just want more of everything, but the planet
                                cannot support this kind of lifestyle for
                                6 billion people. This is just a simple fact
                                of physics, not something that has anything
                                to do with corporations. The earth is probably
                                already past its carrying capacity, according
                                to many scientists.
                                \_ The idea that people should live in
                                   identical large houses with large yards
                                   and large fences, a long drive away
                                   from the places they want to go, was
                                   basically invented in the 50s by and
                                   for corporations.  Before that virtually
                                   all development was mixed-use, and
                                   our population was denser despite being
                                   much smaller.  From 1950 to 1990, Bay
                                   Area population more than doubled,
                                   while density actually decreased.  Most
                                   of that change was due to the construction
                                   of freeways and related destruction of urban
                                   neighborhoods, with housing moving from
                                   urban, mixed-use to suburban and isolated.
                                   Now things are starting to swing back the
                                   other way, which is a good thing.  Very
                                   little of this has much to do with what
                                   the average Joe wants, except insofar as
                                   he's susceptible to marketing.  -tom
                                   \_ This is a lie. Like I said, before the
                                      Industrial Revolution more people
                                      than not lived in large houses with
                                      large yards a long drive away from
                                                         \_ There was driving
                                                            before the Ind.
                                                            Rev.??
                                                            \_ certainly not
                                                        autos but I would
                                                        guess PP means horse
                                                        and buggy drives
                                      town. The population was not denser
                                      at all. This era you wax nostalgic for
                                      was an artifact of the Industrial
                                      Revolution where workers moved to slums
                                      in large cities in order to work in
                                      factories. It's laughable that you think
                                      that corporations in the 1950s invented
                                      the suburban lifestyle. What corporations
                                      invented was *DENSE CITIES*. From
                                      1950 to 1990 what we saw was _AN
                                      IMPROVED STANDARD OF LIVING_ and now
                                      that our standard of living is
                                      eroding we are seeing more people
                                      living like cockroaches. Not only
                                      that, _ALL_ of this has to do with
                                      choices people make. You give marketers
                                      _WAY_ too much credit. I live in a
                                      house built at the turn of the century
                                      and it's not hard to see why people
                                      wanted to move to their own brand
                                      new box in a new suburb. (Example:
                                      one bathroom). That's not an
                                      artifact of marketing, buddy.
                                      \_ Overpopulation and resource depletion
                                         leads to a declining standard
                                         standard of living. Why is that
                                         surprising to you? People have lived
                                         in large crowded cities since at least
                                         the Roman Empire, you are nuts to
                                         think that this is a modern invention.
                                         Sure, subsidence farmers lived spread
                                         Sure, subsistence farmers lived spread
                                         out, but cities were denser before
                                         the automobile. Have you been to any
                                         of Europe? I prefer my solidly built
                                         turn of the century house to the ticky
                                         tacky crap that passes for "luxury"
                                         these days. And btw, people used to
                                         live in much smaller houses, so you
                                         are wrong about the "large houses"
                                         part, too. -!tom
                                    http://www.moyak.com/papers/house-sizes.html
                                         \_ 1. I prefer my old house, too,
                                               but that's because I like
                                               the character. You can realize,
                                               though, why post-WW II families
                                               thought that moving to a new,
                                               modern house with a yard and
                                               2 bathrooms was appealing.
                                            2. By "large houses" I mean a
                                               large footprint (less dense).
                                               Houses have gotten larger over
                                               time, but the lots they are
                                               built on has not.
                                               \_ So "large house with large
                                                  yards" really means "small
                                                  house with large yard" in
                                                  your language? Could you
                                                  please clarify which defn
                                                  of "large" you are using next
                                                  time, so I don't get confused?
                                                  Thanks in advance.
                                            3. Large crowded cities were not
                                               a very common way of life.
                                               This is a modern innovation.
                                               From Scientific American,
                                               September 2005:
                                               "From the beginning of the
                                               Christian era to about
                                               1850, the urban population
                                               of the world never exceeded
                                               7 percent. The Industrial
                                               Revolution quickly changed
                                               that--today 75 percent of
                                               people in the U.S. and
                                               other developed countries
                                               live in cities, according
                                               to the United Nations."
                                               You tell me which is more
                                               recent.
                                               \_ Prior to the industrial
                                                  revolution, people outside
                                                  of cities were organized
                                                  in family units; multiple
                                                  generations would live
                                                  densely within the same
                                                  house or on the same land.
                                                  The land provided most of
                                                  the daily needs of the
                                                  group, requiring little
                                                  travel relative to current
                                                  practice.  The concept of
                                                  "commuting" is a modern
                                                  invention (and a carbon-
                                                  expensive one).  -tom
2009/9/15-24 [Reference/RealEstate] UID:53371 Activity:nil
9/15    Phillip Garrido's home is worth about $179K, according to
        Zillow. Anyone want to buy properties in Antioch?
        http://www.zillow.com/homes/map/1554-Walnut-Ave-Antioch-CA_rb
2009/8/20-9/1 [Reference/RealEstate] UID:53293 Activity:moderate
8/20    I'm researching into properties around San Jose. They say that the
        only desirable areas in San Jose are Almaden and Evergreen. I
        did some research and property values for these two are prohibitively
        high (one in the 800K, and the other one over 1M). Is there anything
        else in San Jose that's not dumpy?
        \_ How about Willow Glen?  Depends on what you find desirable.
        \_ What's your price range and what are you looking for (big house
           versus small condo)? Just because the median is $800K doesn't
           mean you can't find something for less or, alternately, that the
           $800K house is big enough.
        \_ Who says that those are the only desirable areas? Are you looking
           for a well built house in a safe neighbhorhood or are you trying
           to impress people with your zip code? I bet you can even find
           \_ I just bought a 600K condo in the 212. that impresses some
              people.
              \_ What does that get you these days, a studio?
                 \_ 1bdr, 1ba, hells kitchen aka "midtown west" now as
                    it's called,  Buyers market right now.  Granted the
                    monthly is about $4k/mo but that's peanuts if you
                    are a sw architect.
                    \_ I guess the guy's point is:
                       What's impressive about a $600K condo in NYC? At that
                       price it's probably 750 square feet and in a
                       marginal area. The average New York condo is $644K
                       and in Manhattan it is $1.1M. So you bought a
                       smaller and cheaper than average place in a fringe
                       neighborhood. I am happy for you. NYC is great.
                       Impressed? Not so much.
           houses in those areas for less, if you go for something smaller.
           How much house do you feel that you need?
        \_ Rose Garden is a nice district. -sj hater
2009/7/28-8/6 [Reference/RealEstate] UID:53212 Activity:nil
7/28    My girlfriend and I took care of my girlfriend's nephew for 3 weeks
        while his mom was off working for the Air Force (she is a reservist
        and a single mom). As part of that my girlfriend stayed at her
        apartment a lot, watching him and the cats. Occasionally he stayed
        at our house. It was a lot of responsibility. The weekend before
        she got back we spent a lot of time cleaning her place. In fact, I
        would say it is a lot cleaner than the way she left it. She got
        back Sunday and came to our house to get her son before going back
        to her place. She was off Monday to recuperate before going back to
        work today. We are a little miffed that she hasn't called to say
        thanks or ask how things went. We thought she'd be pleasantly surprised
        that everything was clean and straightened up. We don't want a
        medal or anything, but a call saying "Wow. Thanks for taking care
        of the place. It looks great. Cats are fine." would have been nice.
        Are we right to be a little (a lot) pissed at this point?
         \_ Yes, she should be fawning over you and your gf.  That said, she
            is probably tired, there is only one of here.  Also, I hate it
            when people clean up my stuff. (did you thrown anything out?)
            \_ I absolutely did not throw anything out. I hate that, too.
               We just did all the laundry, including things like bath
               mats, vacuumed, mopped, cleaned the toilets and tub, did
               all the dishes, made the beds, arranged the furniture (not
               *re*arranged but made sure things like pillows were in place),
               emptied the trash, dusted, sorted the mail, and all the
               typical stuff. I know certain things (like dusting and
               vacuuming) hadn't been done in a while based on the condition,
               which is why i say we left it cleaner than she did.
        \_ Do you mean Monday as in yesterday? Yes, I think you should give
           her a couple of days at least. I am sure she is overwhelmed. At
           least you got a taste of what being a parent is like. Are you going
           to have any of your own?
        \_ Chill, give it a week. You're tired from all of this? Imagine
           doing it every single day.
           \_ Not really tired by it. Did I say that? However, how much
              trouble is it to pick up the phone, if even just to ask if
              we had any problems or issues while she was away? I know I
              would definitely want to know what happened while I was gone
              and I think it's polite to call and say "I noticed you guys
              cleaned the place up. Thanks."
        \_  Did you make sure to thank her for the sacrifices she has made to
            help defend you and your country?  Maybe now would be a good time!
        \_  She may not have even noticed.  3 weeks of training would certainly
            wipe my cache about the state of cleanliness in my house.  Why don't
            you just feel good about having done service for a loved one?
2009/4/23-28 [Reference/RealEstate] UID:52896 Activity:low
4/22    http://www.nytimes.com/2009/04/23/garden/23sanfran.html
        How did a 26 y.o. and a 29 y.o. buy a $1M house (and then spend
        another $1/2M on a remodel)?
        \_ dot com money?
        \_ Bank of Mom and Dad + leverage.
           \_Bank of Sugar-Dad + cleavage.
           \_ You don't need mom&dad when you got a bunch of stupid
              creditors.
        \_ What the (*@&$@# does a 33 year old x-skater board dude do
           for a living-- a bass player for Space Vacation, a heavy
           metal band. What the fuck? If you're over 25 and still not
           successful, give it up! What a (*@#$@# loser.
           \_ People don't come right out and say "trust fund baby".
2009/4/5-13 [Reference/RealEstate] UID:52802 Activity:kinda low
4/5     In the Exurbs, the American Dream Is Up for Rent:
        http://online.wsj.com/article/SB123845433832571407.html
        \_ "As land values rose, the couple's combined mortgage and property
           tax payment soared, to $2,900 from $1,500."  Uhh, for some reason
           I don't think the wsj is being totally honest here.  Property taxes
           doubled the mortgage?  Really?
           \_ Could happen in places without Prop 13, which the anti-Prop 13
              people ignore. My mother-in-law bought a house back East for
              a lot less than it probably should have sold for. She then
              spent some money fixing it up. Then the real estate bubble
              hit. At the height her property tax was $8K/year and her
              mortgage was $9K/year. It started at $14K/year for the
              mortgage and $4K for tax, but she refinanced the mortgage
              when rates fell and the tax doubled. So in this case her
              expense was about the same ($18K vs. $17K) but her tax bill
              almost overtook her mortgage. That's ridiculous to happen in
              7 years.
              7 years. BTW, the article says: "No one in the history of
              the world ever washed a rented car." Well, I rented a truck once
              and went offroad in the mud and snow with it. I did take it to
              the car wash before I returned it because it was a mess.
2009/3/19-23 [Reference/RealEstate, Reference/Tax] UID:52732 Activity:high
3/19    Communist/Socialist House reps pass bill taxing bonuses at 90% for that
        portion of the bonus that pushes you over, for individuals, total AGI
        > $125K ($250K married) working at an entity which took >= $5B in TARP
        money.  A disgrace to meritocracy.  Cost of living in Manhattan is
        expensive you know??  It's a good thing it only starts for the 2009
        tax year!
        \_ ha ha you're stupid
        \_ I think it's not fair to be based on household income.  I think it
           should be based on the income of the person (married or not)
           getting the bonus.
        \_ It's an unconstitutional bill of attainder.
         \_ That's not obvious.
        \_ corrected again after reading the bill
        \_ It should have been 99%. Seriously, the people owed bonuses should
           become third- or fourth-tier creditors; if there's anything left
           to pay them after paying back the govt., fine. If not, tough.
           \_ "While the House legislation calls for a 90 percent tax, Rep.
              Charles Rangel, D-N.Y., chairman of the tax-writing House Ways
              and Means Committee, said he expected local and state
              governments to take the remaining 10 percent of the bonuses."
              http://news.yahoo.com/s/ap/aig_outrage
        \_ what is your suggestion?  continue to let those free-market
           guys run the banks and continue their practice of leveraging
           35:1  ?  let me know.
        \_ Rent a cheap condo in Brooklyn and take a train to work. $250K
           is plenty to live in Manhattan too. Just find a cheaper place to live
           take the kids out of $30K/year private school.
           is plenty to live in Manhattan too. Just find a cheaper place to
           live take the kids out of $30K/year private school.
           \_ If 250K/year isn't enough for you to live in a nice condo
              in Manhattan you need to stop doing 10k of coke a month.
              \_ A 3 BR apartment is about $5-7K/month. $12K/month doesn't
                 seem like much with those prices. I think the guy who
              \_ A 3 BR apartment is about $5-7K/month. $12K/month (after
                 tax) seem like much with those prices. I think the guy who
                 said Brooklyn or Jersey was more on the money.
                 \_ And really, who can live on just 7k a month?
                    \_ Slippery slope. I bet you can live on a lot less
                       than you make, too. Most people can. Once you start
                       trying to define a "minimum livable wage" you have
                       already lost and might as well embrace communism.
                       \_ You are really bad at this reading comprehension
                          aren't you.  Are you the same person who was mad
                          because those dirty poor people don't live
                          on potatoes and milk?
2009/3/17-23 [Reference/Law/Court, Reference/RealEstate] UID:52724 Activity:moderate
3/17    I posted on 2/10 about a landlord that stiffed me $600 on
        my deposit. I wrote him a "strongly worded letter" and followed it up
        with a "Pay up or I'm going to file a small claims court in 10 days"
        template. He didn't respond so I filed a claim, but the day I filed
        a claim, he wrote me back and added $250 to the deposit. If I hadn't
        already spent the $60 on the filing, I would have been happy and taken
        the money and gave up. As is, I think I should probably still do that,
        but I'm interested in learning about the whole legal process. Anyone
        have any experience with Small Claims Court? Is it as fun/fascinating
        as it sounds? The worst part is that I'm guessing that the judge won't
        give me the 2X deposit that I'm suing for because he's no longer acting
        in "bad faith"...
        \_ Unless you can claim your costs are greater than $250, the
           judge will probably get annoyed at you for wasting time
           and public resources. What are you going to ask for ...
           you cant say they reason your pursued the case was to see
           how the system would work.  If you proceed, you definitely
           want to have on record an explanation to the former landlord
           why the current settlement still leaves you short and what it
           would take to resolve it [i.e. "I spent $X in costs and time T,
           which is worth about $Y ...].  What did your landlord's letter
           say? [Also, I am not sure if your cashing the check has any
           legan bearing ... if a landlord tried to evict you but takes
           legal bearing ... if a landlord tried to evict you but takes
           money from you, it alters the situation for him].
           \_ I appreciate your advice, but I don't understand "costs >$250"?
              He's still deducting $250 from my deposit for things like paint,
              but I lived there for 3 years, longer than the typical life of
              cheap apartment paint. Can you not sue in small claims for $250?
              I don't want to waste the judge's time, but I thought small
              claims was for exactly that... small claims.
                     \_ I thought you meant the landlord sent you a $250
                        "bribe" on top of what he owned you to drop the
                        case for double/punitive damages/costs. I didnt
                        realize he still left you short. I think you need
                        to clear up the accounting if you want motd.advice.
                        By the way, there are a lot of obligations in CA for
                        landlord w.r.t. to deposits, especually if he doesnt
                        return the whole amount. You might look at the Nolo
                        Press book for renters.
              \_ Small claims is, technically, for anything up to $1,000;
                 after that, you jump up to regular court. That said, the
                 trend in modern justice is toward mediation and, well,
                 breaking even, so since you're already getting what you
                 wanted (minus $60), a judge is likely to tell you to get
                 lost. -!pp, IANAL
                 \_ limit is now $7,500 in CA for small claims
                    \_ See? More evidence that IANAL.
              \_ I don't understand, did he deduct $250 from the money he
                 owed you (and therefore still owes $250) or did he add
                 $250 to the money he returned? If it is the former, you
                 can still reasonably sue, if it is the latter, I can't
                 see what your claim would be.
              \_ If he gave you back $600-$250 then hell yes you can
                 take him to small claims (and may even be able to ask
                 to add your filing fee to the judgement if you win).
                 If he gave you $600+$250 then shut up and take your money.
                 \_ He owed me $1060 and gave me $600+$250=$850. So he still
                    owes me $310 (+filing fee?). Are you suggesting I shut up?
                    owes me $310 (+filing fee?). Should I sue or shut up?
                 \_ He owed me $1060 and gave me $460+$250=$710. So he still
                    owes me $350 (+filing fee?). Should I sue or shut up?
                    \_ up to you, but I would at least write him a letter
                       or e-mail saying you got his extra $250 and he is still
                       short $x, and you still feel stiffed and will still sue
                       unless he pays up.  Judges like to see this follow up
                       since if it works, it saves them time.
                       \_ Seconded. Make copies of everything you send so you
                          can show it to the Judge. Oh, and buy a book on how
                          to collect your judgement if you win; it's not just
                          a matter of having the Judge make the landlord hand
                          you the money.
                    \_ 1060 - 850 != 310
                        \_ Derr, at least the math in my letters to him was
                           correct. Here's the real accounting:
                           Deposit: $1060
                           First Check: $460
                           Second Check: $250
                           I'm going to cash the check today and have someone
                           serve him papers tomorrow. I will also write him
                           a letter saying that I received his second check
                           but that he is still short $350 and that he should
                           pay me the $350 or contact me if he wants to settle
                           this out of court. Thanks for the tips. Also,
                           Nolo Press is awesome.
                           \- Nolo >> Texas
                            \_ Inflamed hemorrhoids >> Texas.
2009/3/10-17 [Reference/RealEstate] UID:52692 Activity:moderate
3/10    Sure glad I didn't take suburban guys advice and buy a big place
        in the outer suburbs:
        http://tinyurl.com/b68rty
        \_ My house just got appraised for 2x what I paid for it in 2001,
           which is down from 2.5x in 2007. I'm really upset about it,
           especially since the appraisal was because I refinanced at
           4.5% and my payment now is lower than it was when I bought.
           \_ Are you perchance a LANDLORD WITH A YACHT?!?!!?!?!!!!!
        \_ What is the N Cal equivalent to Riverside? Castro Valley?
           San Leandro? Dublin? Tracy? Antioch? Just trying to get
           a sense what it is like since I've never been to Riverside.
           \_ Riverside County is relatively similar to Contra Costa County.
              But downtown Riverside is relatively dense and almost urban.
              There's a UC there and a lot of the sprawl cities (e.g.
              Moreno Valley, Beaumont) are built around Riverside, not LA.
              I just checked Wikipedia and Riverside (city) has almost the same
              density of Castro Valley (~3,900/sq mi), but Riverside County
              is much less dense than Contra Costa.
              \_ professions? crime rates? demograph?
              \_ Riverside isn't much like Contra Costa County. I'd compare
                 it to Modesto.
                 it to Modesto or Stockton. Contra Costa is more like
                 Orange County. Riverside does not have very many wealthy
                 enclaves like Contra Costa County does. Maybe you can
                 compare Riverside to Davis, too.
                 \_ Nah, Davis >>> Riverside.
                    \_ Davis is maybe 1/10th the size of Riverside.
                 \_ Riverside is much wealthier than Modesto. A better
                    comparison would be Vacaville. Maybe Vacaville plus
                    Vallejo.
                     \_ And a 10x better place to live.  Which says something
                        about how shitty Riverside is.
                        \_ Perhaps, but all the other cities in the "Inland
                           Empire" are worse.
                 \_ I was going to say that Riverside was nicer than Modesto
                    and then I looked at the demographics and I have to admit
                    you nailed it. Concord is actually pretty close to
                    Riverside, in most ways.
                    \_ Concord is not similar to Riverside in my mind.
                       Concord has a BART stop that gets you to SF
                       quickly. Concord is a bedroom community for SF.
                       Riverside is too far from LA and San Diego to really be
                       influenced by them, so it (and San Bernardino) are
                       more like Stockton. I'd live in Concord area but
                       I'd never (again) live in Riverside area.
        \_ Riverside has terrible air quality and the "909" (area code) is
           ridiculed as being a meth capital. Moreno Valley passed up Fresno
           and was the murder capital of the US a short while ago. I think that
           Beaumont was the fastest growing "small city" in California in 2006
           and 2007. The IE has a lot of bad things about it. Upside is
           proximity to Palm Springs, maybe Temecula (wineries)?
           \_ Gotta agree, Riverside smells like cow-ass
              \_ You are confusing Riverside with Chino here. Chino smells
                 like cow-ass, Riverside like car-ass.
2009/2/27-3/6 [Reference/RealEstate] UID:52656 Activity:nil
2/27    Woah, check out inflation-adjusted home prices over the years
        http://static.seekingalpha.com/uploads/2009/1/30/saupload_case_shiller_chart_updated.png
        \_ Yeah, during the top of the bubble people kept saying prices
           needed to drop 50%, looks about right.
2009/2/26-3/5 [Reference/RealEstate] UID:52641 Activity:kinda low
2/26    REAL ESTATE, IT ONLY GOES UP!  LANDLORD - WITH A YACHT!!!!!!!!one
        \_ I use to be boat person, now I own boat.  -John Vu
        \_ you call now, make money in real estare wit no money down, i come
           here make money wit no money down, look at these women!
        \_ Nice thing about being a landlord is that some schmuck pays
           the mortgage for you whether the property is going up or down in
           value and after 15-30 years you own it free and clear, whatever
           it ends up being worth.
           \_ I hope you have a gun for when the mob zeros in on you.
                \_ I used to subscribe to this kind of wishful thinking too...
                   but look around.  What would have to happen before angry
                   mobs actually revolt against landlords?  Additionally, there
                   is nothing unethical about renting out real estate.  It's
                   just money management.  Time to grow up, kids.
                   \_ For your first question: food shortages, fuel rationing,
                      rolling brown/blackouts on a regular basis (not just
                      your occasional hot summer), runs on multiple banks,
                      and a significantly greater lack of law enforcement
                      and/or National Guard. In short, not a chance. It's
                      why there's not even a dozen miles between Harlem
                      and the highrise luxury apartments yet said luxury
                      apartments don't ever get burned down.
              \_ The nice thing about renting is that someone else takes care
                 of mantience, I can move whenever I want, and someone else
                 takes the risk.  It's not like there aren't ups and downs to
                 both sides.
                 \_ True. Most of the advantages to renting have to do with
                    mobility, but there are others. For instance, you might
                    be able to rent in a nicer neighborhood than you can
                    buy in which could lead to perks like better schools.
                    However, in terms of accumulating wealth and in other
                    ways, too, (for instance political) the system is skewed
                    towards landowners.
2009/2/20-22 [Reference/RealEstate] UID:52612 Activity:nil
2/21    anyone go to school with Kip Macy?
        He's back in jail
        http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/19/BATV161A1R.DTL&tsp=1
        \_ This is REALLY funny:
           http://daemonflux.blogspot.com/2008/09/day-one.html
           \_ Whatever you disgruntled anonymous tenant advocate.
                \_ Drilling holes in the floor to get your tenants to go away
                   doesn't work.  kipmacy was a dumbass.  and greedy.  all
                   he had to do was wait a year and he would have gotten his
                   condos
                   \_ Gee, ya' think?
2009/2/10-17 [Reference/RealEstate] UID:52550 Activity:nil
2/10    I've mailed my landlord about excess withholdings from my deposit
        (certified mail), quoting legal code and all that. I'm going to write
        him a followup letter saying he never responded. Is the next step
        to go to some free legal clinic and then take him to small claims?
        Any advise? (I've actually been looking forward to this for a while...
        when I moved in, I knew this would happen so I've tried to keep
        good documentation).
        \_ It depends on where you live. Do you live in a city with a
           strong Rent Control board? You might be able to just go to them.
        \_ IANAL, but as I recall you can get triple damages on unjustified
           deposit withholding.
        \_ IANAL, but as I recall you can get triple damages on unlawfully
           withheld deposit money.
           \_ In CA, It's twice deposit + damages. I lived in LA and now am
              in SF. I ACCESS for free legal help but my landlord is in LA. --op
              in SF. I ACCESS for free legal help but my landlord is in LA.
              --op
              http://law.onecle.com/california/civil/1950.5.html
              \_ Send the letter, but are you willing to go down to LA to
                 go to court?
                 \_ Yes. I go down there about once a month. He owes me $600
                    and double the deposit would be an additional $2K. Plus,
                    I've never been to non-traffic court, so I'm kind of
                    looking forward to the experience of sticking up for the
                    little guy (that's me).
                    \_ The ex-landlord lives in LA?
2009/2/4-8 [Reference/RealEstate] UID:52507 Activity:nil
2/3     There's a glut of apartments out there. Three units on my floor
        (of a 80 unit apartment) are now vacant, in less than a month.
        The weird thing is my landlord is increasing the rent by $200
        a month, bumping it to $2200. I'm told her about the rate out
        there, and she only budged $100. WTF, is this common? Oh well,
        time to look for another place. I hate corporate managed apartments.
        \_ Where? Berkeley? SF? LA?
2009/1/29-2/6 [Reference/RealEstate] UID:52485 Activity:kinda low
1/29    S&P Case-Shiller 20-city home price index shows San Francisco
        1 year home value change: 30.8%.
                                  \_ + or -?
        \_ http://money.cnn.com/2009/01/27/real_estate/home_price_losses_continue
        \_ SF MSA... includes Oakland, Bay View, Novato, etc.
         \_ Bay View is SF
            \_ Yes, but including it in SF numbers doesn't really give a
               picture of someone who wants to buy in SF and not get shot.
               I've been waiting and waiting for prices to fall and only
               in the past 6 months have I see a decline in areas that I'd
               be interested in, like the Mission, Hayes Valley, Alamo Sq,
               Duboce Triangle, Noe, etc.
               \_ Tell me about it, I'm in the same boat.  I just know
                  that when prices go down x% most of that is in the
                  shittier areas.  And from what I've seen prices have hardly
                  dropped in the places you are looking.  It's frustrating.
                  \_ The less desirable areas are first down and last up.
                     That doesn't mean prices in nice areas haven't dropped,
                     because they have. It will take interest rate hikes
                     to bring prices down. As long as you can get a
                     mortgage for 4.5% prices will remain pretty high.
                     \_ TIC rates are well above 6% so 4.5% is not relevant...
                        although the TIC auction ideas are promising.
                        \_ If TIC = APR (which I think it would be) then nope.
                           Under 5%.
                           \_ You clearly have no idea what you're talking
                              about. If P=NP=Bananas=Sputnik, then under 5%.
   http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/01/31/BUM615JQNS.DTL
               \_ How much have prices dropped in the areas you are
                  interested in?
2009/1/22-26 [Reference/RealEstate] UID:52438 Activity:high
1/21    One datapoint on rental prices, please post yours if applicable.
        Please don't give me this "this is why I buy a home" crap. Not
        everyone has money:
        -S Cal, $2055/month with 9 month contract expired. Signing one
         more year=$2055/month, month-to-month=$2255. Bunch of empty
         parking spots and people moving out, but according to the
         manager the economy hasn't diminished rental demand.
        \_ Oakland, Grand Lake District: 2.5 BR, large living room,
           large kitchen, $1125/month.
           \_ Thanks for the data! Is the trend going up or down in this
              weird economy? I expected rent to go down because of all the
              empty spots but nothing changed.                  -op
              \_ People still have to live somewhere. If anything, it might
                 go up because of all the people who can't afford to own
                 a home and have to rent again.
                 \_ That is true, but when I survived the dot-com, a bunch
                    of people moved OUT of Silicon Valley back to their
                    homes. I know a bunch of 2nd class engineers went
                    back to LA and Orange County, and a bunch of marketing
                    people went back to Nebraska, Arizona, Ohio, etc.
                    \_ Well, that is certainly happening now too (people
                       moving back to cheaper locations).
                       \_ Why do you say that? SF population seems stable,
                          perhaps even growing.
                          \_ Nevermind, what I meant is practically a truism
                             (it's always happening somewhere in the Bay
                             Area). I don't have any special knowledge on
                             current rates of occurrence.
                          \_ Between 1950 and 2000 SF gained about 1,000
                             people in population with a big dip in
                             between. Since 2000 it has declined:
                             http://www.usbeacon.com/California/San-Francisco.html
                             \_ http://tinyurl.com/am39ft
                                San Francisco has attained the highest
                                population on record with a population of
                                824,525 on January 1, 2008.  This continues
                                the significant upward trend in growth that
                                began in 2006.  The city grew by 1.5 percent
                                this year.
                                http://tinyurl.com/dmklko
                                The U.S. Census Bureau admitted underestimating
                                the city's 2007 population and raised it to
                                799,183, according to a statement from the
                                mayor's office.
                                Where does usbeacon get its numbers from?
        \_ I rented out my house in Fremont via the Housing Authority.  The
           rent, determined by the Housing Authority, hasn't gone down.  BTW
           it's 4-bed 2-bath 1444sqft, 10-min walk from bus stop, not walkable
           to BART, $2165/mo.
        \_ Livermore (Far East Bay), 3Bed 2Bath 1200 sq ft, duet $1600 a month.
           In Livemore rent prices have increased significantly since the
           housing crash.  All the foreclosed people need to rent now.
           That said, my rent is pretty low.
           \_ Why are you renting in Livermore when housing is dirt cheap
              relative to the real Bay Area?
              \_ Basically we're just biding our time a bit.  When it starts
                 going back up, I don't think it's going to go very fast, so
                 we're just waiting for a house we like at a price we like.
                 You're correct that we could afford to buy right now.
        \_ Why don't you buy? I pay less mortgage than that at 4.875%. You
           can borrow about $400K for that rent (without even considering
           tax deductions). With your $40K down that means maybe a $500K
           place once considering taxes. You can find something for that.
           \_ I'm looking for a job. Will you find me a job? Then maybe
              I'll consider buying. Thanks for your thoughtful response asswipe
              \_ I know of a couple of job possiblities in interesting
                 startups. One with languages in Menlo Park, and one with
                 Social networks or scientific computing in Viriginia. -jrleek
              \_ Sorry to hear that, but with no income *all* rent is
                 expensive. However, if I lose my job at least I can live on my
                 home equity and, like I said, my payment is less than that
                 guy's $2K rent.
                 \_ Most likely, you bought the home when the price was
                    lower than it is today. If you buy the same home today,
                    will your mortgage still be less than $2K?
                    \_ I just told you that you can borrow $400K for $2100
                       per month. My house is worth more than $450K
                       according to the recent appraisal, but I have seen
                       houses in my neighborhood for sale for $450K. For
                       \_ I don't know anywhere in California desirable where
                          you can actually buy a non-condo, non-townhome,
                          real single family HOUSE for lower than $450K.
                          Maybe in Valencia and or San Dimas and Compton,
                          but not Pasadena or Santa Monica where 2nd tier
                          tech jobs are located.    -1st tier techie in LA
                          \_ 1. Nothing wrong with San Dimas or Valencia.
                                Lots of people live there. They are no
                                worse than Fremont or Sunnyvale.
                                \_ Sorry but average income and education is
                                   WAAAAY higher in Sunnyvale than these
                                   dumpy places in LA. Also, if I buy in
                                   San Dimas, how many good tech companies
                                   will I be able to work at with a Masters
                                   degree in EECS?
                                   \_ Lots of aerospace companies in the
                                      area. From Valencia you can work in
                                      Palmdale. From San Dimas you can
                                      work in Orange County. I don't understand
                                      your point. We're working under the
                                      assumption that you HAVE a job, not that
                                      you are trying to relocate. What
                                      does "average income and education"
                                      get me? Do you want a nice house in
                                      a safe suburban area or do you want to
                                      find a mate? Make up your mind.
                             2. $450K or less gets you a condo in WeHo,
                                a house in Pasadena ($550K median in
                                the "not bad" ZIPs), Monrovia, Northridge,
                                slums of Encino, or Simi Valley. None of
                                these places are luxurious like Malibu,
                                but you can't have champagne taste and
                                beer budget.
                                \_ Monrovia not exactly cheap due to the
                                   average large lot size. Northridge? What
                                   jobs do they offer in San Fernando again?
                                   \_ The SF Valley has Yahoo! in Burbank
                                      and lots of entertainment jobs like
                                      Dreamworks, Disney, etc. It's also
                                      not a bad commute to the Westside if
                                      you can work offhours. You seem to
                                      be under the mistaken impression
                                      that all the good jobs are on the
                                      Westside, but there are a lot of
                                      highpaying jobs other places. Downtown,
                                      for instance, has the highest paying
                                      jobs in the city, Westside included.
                                      From pharmies like to Amgen, cool
                                      startups like the one I interviewed at
                                      which made fingerprint-based safeties
                                      for guns (lots of EE jobs there),
                                      prototyping companies like Applied Minds
                                      (http://www.appliedminds.com and
                                      animation companies like Dreamworks, lots
                                      of companies need engineers and are not
                                      based on the Westside. I think you are
                                      too narrow-minded, like a lot of
                                      Westsiders are. Life doesn't exist
                                      east of the 405, I know. Get over it.
                                   I'm not in medicine, law or porn industry.
                                   Anyone having to commute on the 405 to
                                   get to "save rent and get real city jobs" is
                                   a moron or has a high threshold for pain.
                                   \_ Redfin shows me 48 homes >$450k in
                                      Monrovia.
                                      \_ Redfin doesn't talk about the
                                         Monrovia gangster. They're blacks
                                         feuding with the Mexicans btw.
                                         \_ In the bad area of Monrovia
                                            by the freeway, but the
                                            northern part is nice and not
                                            too expensive.
                             3. In the Bay Area you could buy in Albany,
                                Santa Clara, Dublin, Concord, Pleasant
                                Hill, Novato, San Rafael, Pacifica, or
                                Milpitas - among others. These are
                                ordinary towns just their LA counterparts,
                                \_ Any of these are commutable to Silicon
                                   Valley fortune 500 jobs or startups. When
                                   I live in Northridge or Valencia, what
                                   jobs will I get there?
                                   \_ Tangent. Someone asked where in CA
                                      you can buy a house for $450K. I
                                      told you where. Sounds like you
                                      agree that these are reasonable
                                      locations so buy there.
                                   \_ Santa Clara is in the heart of the
                                      Silicon Valley. Milpitas is not too
                                      far away. There are also now many
                                      cheap homes in San Jose.
                                      \_ I thought GOOGLE is the heart of
                                         Silicon Valley considering they
                                         store, process, and output more
                                         information than any company.
                                ordinary towns just like their LA counterparts,
                                but it beats renting and you are never
                                going to get that house in a wealthy area
                                by renting and saving. Buy a starter home,
                                pay some down, wait for equity to build,
                                and move up. In 15 years when my house is
                                paid I can sell it and buy in Santa Monica
                                if I want to have another mortgage, whereas if
                                you rent it will be much harder to get
                                there - unless you rent very cheaply and
                                dump every last cent into the stock
                                market. I prefer to live in my own house
                                in the interim, but that's me.
                       $3K/month you can borrow $600K and have even more
                       choices. Makes more sense to me than $2400/month
                       for a 2 BR in SF (which is a steal BTW and not
                       common), but that's me. If you are going to rent
                       to save money then rent a cheap place with a
                       roommate. Luxury apartments (and their associated
                       high rents) are a waste of $$$. I guess some people
                       like to live in an apartment and drive a Porsche
                       (I see this all the time in luxury buildings) but
                       to me it seems retarded and I love nice cars. Plus,
                       when I bought my house I only had a beaten up
                       Nissan and a just-paid-off Honda. Now, some years
                       later, I have two luxury cars because my salary has
                       risen while my rent has not. In another 15 years I
                       won't have any rent at all except property tax.
        \_ I own a 8 unit apartment building next to Downtown Oakland,
           all singles and studios.  I've had to rent 3 units within the last
           2 months and haven't had to drop my prices.  Although, I
           already rent low, studio ~650 and 1brdroom ~900.  My buddies
           who have 2 bedroom/ 1 bath houses say that the competition is
           pretty fierce these days, probably because there are so many
           foreclosures going on the market as rentals lately.  There is an
           article in the SF Chronicle talking about the current Bay Area rental\
           situation. -scottyg
           article in the SF Chronicle talking about the current Bay Area
           rental situation. -scottyg
        \_ I just moved in to a new place in SF a few weeks ago. 2bdrm $2400.
           I negoitated the rent down at this place and also several others in
           the city. I did this after someone who was listing a 1bdrm for $1800
           told me that the price was flexible.
        \_ http://mullinslab2.ucsf.edu/SFrentstats
           Rents are pretty stable in SF.
2009/1/14-22 [Reference/RealEstate] UID:52379 Activity:nil
1/14    How is it that an APR can be lower than the interest rate?
        \_ if it's an ARM, initial rate(s) are higher than future adjusted
           rate(s).  I believe the quoted "interest rate" is for the year(s)
           before it starts adjusting.  APR is calculated over the life of the
           loan.
           rates, based on the reference index + spread.  I believe the quoted
           rates, based on the reference rate + spread.  I believe the quoted
           "interest rate" is for the year(s) before it starts adjusting.  APR
           is calculated over the life of the loan.
           \_ So if the rate is 6% but if the ref rate + spread = 5%, the APR
              is based on 5%+fees? Sounds like the APR is not very helpful
              wrt ARMs.
              \_ I agree.  Especially if you consider the ref rate is insanely
                 low today and can be something else in 1 to x years.  If the
                 ref rate goes insane in 2 years, you can re-fi yes, but you
                 just lost on all the fees, and the opportunity to get the
                 insanely low fixed rate.  Mr. Market loves you, then fucks
                 you in the ass.
                 \_ I know a few people whose ARMs are going flex but bc
                    LIBOR is so low, they get to keep their low rates. My
                    old roommate is about to refi to a 30 year fixed w/ Wells
                    for about 5%. Mortgage=$417k.
        \_ Another way: the mortgage company pays you points. For instance,
           if I want a 30 year fixed loan at 6.5% right now I am probably
           going to get points which will lower the APR to maybe 6.25%.
2008/12/17-28 [Reference/RealEstate] UID:52263 Activity:nil
12/16   CalPERS borrowed heavily to get into real estate deals at the peak
        of the housing bubble (guess that shouldn't come as a surprise)
        http://online.wsj.com/article/SB122947172015212225.html
        \_ It is funny, I warned the chair of the CalSTRS board about the
           housing bubble back in 2005, I wonder if that had anything to
           do with them not investing as heavily as CalPERS. -GS
2008/11/24-29 [Consumer/Camera, Reference/RealEstate] UID:52085 Activity:nil
11/23   Is there any photo rental place near the Fremont or Hayward area where
        I can rent backdrops and a stand for shooting family portraits?  I
        see that Looking Glass has such rental, but I now live in Fremont. Thx.
        \_ Can't help you there, but I'm wondering what kind of camera
           equipments you have? Do you already have the strobes?
           \_ I don't have strobes, but I have two electronic flashes and two
              Photogenic Eclipse 45" umbrellas (I wish I had got the 60").  All
              I need is a backdrop.
        \_ if you know exactly what you are doing is one thing.  If you don't
           have a clue what kind of strobe
           \_ ???
2008/11/17-20 [Finance/Banking, Reference/RealEstate] UID:52029 Activity:nil
11/17   sub prime loans doesn't automatically mean total crap loans
        http://www.slate.com/id/2204583
        \_ LOL
2008/11/17 [Reference/BayArea, Reference/RealEstate] UID:52008 Activity:nil
11/18   I wish SF housing values went down to the same when this was made
        http://www.youtube.com/watch?v=-mY2JR2_0QI
2008/11/4-5 [Reference/RealEstate, Industry/Jobs] UID:51819 Activity:nil
11/4    A different kind of detention:
        http://news.yahoo.com/s/ap/20081104/ap_on_re_us/bay_spill
        "Living rent-free in apartments and hotels, they are permitted to roam
        San Francisco and the surrounding area. They continue to draw their
        salaries, and each also receives $1,200 per month in witness fees,
        more than the monthly salary of at least one detained seaman."
        "Some of them are going to school to learn English."
        Life under detention is good, man.
2008/10/29-31 [Reference/RealEstate] UID:51726 Activity:nil
10/29   Huge housing bubble!
        http://csua.com/?entry=26148
        \_ ObSwami
2008/10/28-29 [Reference/RealEstate, Finance/Investment] UID:51712 Activity:nil
10/28   http://tinyurl.com/6l3kpr (wsj.com)
        http://tinyurl.com/364bdv (boston.com)
        Oldies but goodies, Greenspan sez:
        - More H-1Bs -> Buy more overpriced homes -> Home prices stabilize
          -> Overpaid engineers/professionals make less -> PROFIT!
2008/10/27-29 [Reference/RealEstate, Politics/Foreign/Europe] UID:51692 Activity:kinda low
10/27   Sales of new homes up 2.7%. Really disappointed. I really wanted
        a doomsday scenario. Still pissed about how home prices rose 50%
        in less than 4 years. Life is so fucking unfair. I want
        SOCIALISM NOW!!! Fuck Capitalism.
        \_ What do you think got us here?
           \_ France? Socialism?
           \_ Poorly regulated markets and an easy money policy promulgated
              by an Ayn Rand flunky. What do you think got us here?
        \_ They need a 1-year chart of this overlaying 2006 to 2008.
           The "no jumbo" crash happened September 2007 I think.
           The "no jumbo" crash happened September 2007 I think, which would
           make 2007/2008 Sep yoy easily positive.
           make 2007/2008 Sep yoy easily positive, which is what happened with
           the existing home sales numbers.
2008/10/13-16 [Reference/RealEstate] UID:51498 Activity:nil
10/13   It bypasses appropriations, bypasses the congress, it's in your closing
        documents. This from day forward we will all be paying 4.2% basis fee
        of $420 for every $100,000 mortgage in your closing paper will have
        papers. You'll have a new little line in there, a new fee that we're
        going to all pay to go straight to these affordable housing funds which
        the states then hard wire to La Raza, ACORN, groups like that.
        \_ THOSE BROWN PEOPLE ARE STEALING YOUR MONEY!
        \_ We are becoming France and in Texas we done want to be France.
        \_ It's hillarious how quickly ACORN become the 25%ers new Hitler.
2008/10/12-15 [Finance/Banking, Reference/RealEstate] UID:51485 Activity:nil
10/12   Fannie and Freddie originated only 15% of subprime loans in 2006
        Private firms made nearly 83 percent of the subprime loans to low- and
        moderate-income borrowers that year.
        http://www.mcclatchydc.com/251/story/53802.html
        \_ But those horrid dark skinned people ruined our economy by letting
           the Democrats force them to take home loans they knew they couldn't
           afford.  I think it was terrorist plot by all those muslim sleeper
           agents that have been infiltrating our elected government for a
           generation now.
2008/10/9 [Reference/RealEstate] UID:51448 Activity:high
10/8    Thinking of going back to Silicon Valley. How's the job market
        right now in the middle of the housing crisis? Are companies
        hiring or laying off in general? Are rent + home prices stable?
        \_ 1 hiring freezes at many large companies
           2 layoffs of bottom 5-10% common
             \_ my company NEVER does big layoffs. Always letting people
                go every few weeks or so
                \_ YHOO, MRVL, EBAY, HPQ
           3 home prices downward slope
           \_ how much downward? 5%? or 10-15% like nationwide?
              \_ all right, seasonally we may be okay.  my impression is that
                 we've entered the "stare-off" part of the cycle.  also,
                 cheaper houses are selling in volume, which is driving down
                 the median home price.
              \_ Home prices are down in less desirable areas and have been
                 flat for about three years in more desirable areas.
                 \_ What is less desirable? San Jose? Milpitas? Sunnyvale?
                    Places like Saratoga and San Mateo keep going up up up.
                    \_ Desirable:  Cupertino, Saratoga, Los Altos, Los Gatos
                    \_ No, San Mateo has come down in price:
                       http://www.redfin.com/city/17490/CA/San-Mateo
                       Looks like about 12% down from Oct 06 to today.
                       San Jose (most of it), Santa Clara and Milpitas all
                       qualify as less desirable. How about "less expensive"
                       and "more expensive" then, is that clear enough to you?
                       \_ Cool chart. Why is there a big gap starting Jan 08
                          between house and condo?
2008/10/8-9 [Reference/RealEstate, Finance/Investment] UID:51438 Activity:nil
10/8    Fed cuts interest rate by 1.5%. It's going to save the housing
        market! Yeah baby! Good job! Make America an ownership society!
        http://www.bankrate.com/brm/news/fed/main-surprise.asp
        http://www.bankrate.com/brm/news/fed/winners-losers_surprise.asp
2008/9/29-10/4 [Reference/RealEstate] UID:51330 Activity:nil
9/29    Angry 401(k) holders are calling politicians asking them why the
        bailout didn't go through.  Australia pressuring Congress to pass the
        bill to prevent the global economy from imploding.  Real estate and
        financial lobbyists massing for DC.
        ... Predictions?
        IMO, I don't see why we can't have a blue ribbon panel examine the
        issue and figure out how to inject the money.
        \_ i lost around $40,000 off my 401k..but i prefer preserving
        \_ I lost around $40,000 off my 401k..but I prefer preserving
           freedom instead of passing this commie bill
           \_ I agree.
           \_ We need a much more commie bill than this, one that partially
              nationalizes the banks and lowers everyone's mortgage. And for
              $700B, we could get it.
              \_ i can has a free haus?
                 \_ More like, you can get a 10% coupon on the house you
                    overpaid for in 2006 and stay in it and pay the
                    mortgage, instead of dumping yet another Notice of
                    Default on an overstressed financial system.
                    \_ http://www.ihasabucket.com
                       \_ Huh?
                    \_ I'd be curious how many people actually want to keep
                       the mortages.  House flippers probably don't want to.
                       I also met a couple that bought a house pretty cheap 15
                       years ago, but pulled out tons of equity, and have now
                       been foreclosed.  Do they actually want the house?  I
                       don't know.
2008/9/25-10/1 [Reference/RealEstate] UID:51308 Activity:nil
9/25    How the Bush Administration forced Fannie to lend money to
        sub-prime borrowers and feed the housing crises:
        http://preview.tinyurl.com/3l4enj
2008/9/23-29 [Reference/RealEstate] UID:51269 Activity:low
9/23    wtf. Wells Fargo w/9.14% APR jumbo (non-conforming) 30-year fixed in CA.
        \_ Welcome to a shitty shitty economy.
        \_ My parents had a loan at 13% in the early 1980s. You do realize
           that this 5-6% stuff is at or near all-time lows, right?
           \_ Yeah, I feel really sorry for those poor SOBs who have been
              trying to time the housing market and missed out on a once
              in a lifetime opportunity to borrow at 5.25%.
              \_ Yeah, sure now that $600,000 house is $350,000, but at 5.25%
                 it totally would have been worth it.
                 \_ Prices in my neighborhood have not gone down at all. I
                    guess they have gone down in places like Antioch and
                    Gilroy, so if you were shopping there, I guess you are
                    right.
                    Gilroy, so if you were shopping there, you are right.
              \_ If rates go up, prices go down, and the market stagnates.
                 Not a good time to own OR buy.
                 \_ I'd disagree, now is a great time to buy if you are willing
                    to sit on a place for a minimum of 5-7 years.  Prices are
                    great and cash is king.  I've been finding great deals
                    in rental property.
                    \_ Where are you that prices are great?  They just aren't
                       suck.
                 \_ It's a great time to own. The only better time to own
                    was before I did. I don't think people who bought in 1958
                    are too worried about it being a bad time "to own".
                    Bad time to buy? Maybe. Bad time to own? Never.
                    \_ Sorry, bad time to have recently bought.
                     \_ Or to sell.
        \_ Put another way, I would hate to be someone who wanted to sell
           a property.  As someone interested in the highest sale price, I
           would want the easiest loan terms possible (no down, no doc, stated
           income, option ARM, low interest rates).  bank gives me the purchase
           money, i've converted the property to cash--my hands are clean.
2008/9/8-14 [Reference/RealEstate, Reference/Tax] UID:51107 Activity:nil
9/8     Dear landlord question. If my net flow is negative (e.g.
        rent - operation cost < 0), can I write off my loss for tax purpose?
        Say I work a 9-5 job and make $100,000K/year, and my total
        rent - operation cost is $20,000 loss, is my taxable income
        $80,000K? In addition, can I write off HOA+repair+advertising+etc
        in addition to my net loss, meaning a taxable income of
        $80,000K - (operating costs)?
        \_ Yes and yes, but you can only deduct $25k/yr. Losses roll over
           though. Depreciation reduces your basis though, so some of this is
           recovered when you sell. In some situations (AMT) you cannot use
           this deduction and there is a phaseout over $100k, so if you make
           over $150k you don't get to use it at all. Talk to a tax advisor.
2008/8/25-31 [Reference/RealEstate] UID:50962 Activity:nil
8/25    I don't understand this subprime thing. Why can't people
        just refi to get a new teaser rate? It's still historically low.
        \_ you probably don't have negative equity, e.g., bought at $500K with
           zero down, the place is now worth $350K and you paid interest-only
           for two years?
           \_ Why can't you just do interest-only until home prices go
              back up? Why is there a "Oh shit I need to declare bankruptcy"
              \_ interest-only lasts for only 2-3 years
                 \_ My parents have interest-only rental properties, and
                    they last for 5 years. They keep extending for decades
                    and decades. Nothing bad has ever happened.
                    \_ Which is fine until the property appraises for less
                       than the loan amount.  At that point you can't get
                       a new loan because there isn't enough collateral.
                    \_ they probably have equity, and they're probably not
                       subprime loans.  subprime means no doc, low/no down.
                       if you can prove sufficient income, have equity /
                       reasonable down, it's not subprime, and you can refi
                       like your parents.
                       \_ Yes you're right they have "leverage", a term
                          my mom uses a lot, and yes they bought properties
                          long long long time ago so it's not such a big
                          deal when the market goes down for only 5 years. -pp
                          \_ fyi, "leverage" in real estate means when you
                             buy one house, mortgage it to get cash out, use
                             that cash as down for one or more other houses,
                             etc.  You multiply your gains as long as the
                             growth in value of your homes exceeds interest
                             payments.  if home prices fall across the board,
                             yer fucked.
                             people also use leverage for stock market trading
                             and currency trading in addition to real estate.
                             investment banks and hedge funds are almost
                             always highly levered.
                             fundamentally, leverage is borrowing money to
                             multiply a gain (or loss).
                       \_ No, the loan isn't subprime, the borrower is.
                          \_ it can be both
                             http://en.wikipedia.org/wiki/Subprime_lending
2008/8/25-31 [Reference/RealEstate] UID:50960 Activity:kinda low
8/25    You too can have 250 sq feet for only $280K
        http://www.sfgate.com/cgi-bin/object/article?f=/c/a/2008/08/24/BUTM12GQMI.DTL
        \_ Totally, utterly ridiculous. It didn't work for the tiny little
           Japanese many years ago, it's not going to work for Amerikanjins.
           \_ What do you mean it didn't work for the Japanese? I thought
              that this was a normal size for a Tokyo studio.
              \_ They tried in 1970-1972. Look up the Nakagin capsule. It's
                 a tiny little studio capsule project that failed miserably:
                 http://www.flickr.com/photos/esthet/3753156
                 http://ereview.com/pix/places/Japan_Nakagin
                 \_ Those rooms are less than half of the size of the SF
                    project.  -tom
                    \_ Yes but 1970 Japanese men were less than 1/2 the
                       size of 2008 American men.
                 \_ Your information is interesting but irrelevant to the
                    apartments being listed above. There are tons of these
                    1DKs in Japan. I have friends who live in them. They're
                    the only apartments that starving students can afford.
           \_ It's called a 1DK (one bedroom, one dining room/kitchen), and
              there are plenty of them in Tokyo and Osaka, not to mention many
              other smaller cities. They're generally meant to be apartments,
              not condos, but hey, to each their own. You can get a bigger
              condo in Oakland for ~$300k according to http://Zillow.com.
        \_ They aren't supposed to be full time residences.
           \_ rabu hoteru!
        \_ Ever seen a Parisian apartment? That is on the big side.
        \_ Totally, utterly ridiculous. It didn't work for the tiny little
           Japanese many years ago, it's not going to work for Amerikanjins.
2008/8/25-31 [Reference/RealEstate] UID:50959 Activity:nil
8/25    My family has been using a particular real estate agent for everything,
        including home purchases, rental home purchases, and rental home
        leasing services. She's a very sweet old lady, a close family friend
        (well, more of my mom's friend) and only takes 1/2 of the commission
        that all the other agents take. She has been trying to help me sell my
        home for a while but with the current down-market I'm thinking of
        turning it into a rental property. My place is at an area that she's
        not familiar with and that she's too far (+50 miles) to show to
        prospective clients. I'm thinking of switch to a more local agent.
        I feel awfully bad for "ditching" her since she's a family friend.
        What can I do to minimize any potential misunderstanding while
        keeping our family relationship good?
        \_ so you're kicking a sweet old lady to the curb?  good job.
           survival of the fittest.  Stop by at the Salvation Army and pick
           up a used copy of Atlas Shrugged for her.
        \_ Ignore troll above and just tell her why.
           \_ #f, above advice promotes free market competition which
              is good for everyone in the long run
           \_ Actually, you might even ask her for a recommendation.
              \_ Not a bad idea, because she can still collect a referral
                 fee from the other broker.
                 free from the other broker.
2008/8/22-29 [Reference/RealEstate] UID:50944 Activity:nil
8/22    I'd like to rent out my condo. What's a good place besides
        craigslist to post my listing? I don't want to go through craigslist
        anymore after a bunch of bozos didn't show up, or were people
        with bad credit rating, etc. I don't mind paying a little (5%)
        for listing, credit check, etc. Thanks.
        \_ You can hire a property management firm to do all the dirty work
           for you. I think they charge one months rent/year plus something
           like a half month rent everytime it turns over. YMMV.
           \_ Seconded -- I have a property manager for my townhouse, she's
              great, found me a perfect tenant in under a month, and only
              charged me $800 up front plus $75/mo for a place that rents for
              $2200.  I don't deal with anything, except ok on things like
              approving the replacement of a major appliance.
              \_ How did you find her? More info please? Thanks!
                 \_ It was a referral from my ex-neighbor who is a realtor.
                    That might be the place to check -- realtors.
                    \_ In CA professional property managers *must* be licensed
                       real estate brokers with a couple of exceptions.
                       \_  I thought you just needed to work under a broker.  I
                           know someone who is just starting out (read: cheap)
                           that I can refer you to in the east bay. -scottyg
                           \_ There are a lot of things a person working
                              under a broker can do (e.g. collect rent)
                              but they can't do everything. They are just
                              working as an assistant to the broker.
2008/8/20-26 [Reference/RealEstate] UID:50910 Activity:nil
8/19    Quick landlord question. If I'm paying X interest per year to a
        rental property, does that mean I can write off X from my income?
        Or do I do a (home-value)/27.5 depreciation for Schedule D? Can
        I do both?
        \_ You can do both, but you add the rent as income. I think you
           know this, but it's the value of the improvement (less land)
           depreciated over 27.5 years and then you have more profit when
           you sell because your cost basis is lower.
           \_ So if I didn't make any improvement (it came as is and I spent
              $0 on improvement), then I can't do depreciation? Damn!
              \_ No, you can still depreciate the value of the building over
                 27 and 1/2 years. Whacky, I know, but this is how the tax
                 law works. You probably need an accountant.
              \_ "Improvement" means improvement to the vacant land, the
                 best example of which is a building. If you buy an investment
                 property to rent out for $300K and the land value is $200K
                 then you can only depreciate the value of the building itself
                 ($100K). You cannot depreciate the entire $300K.
                 \_ Funny the government defines "improvement" as anything
                    better than the baren land
                    \_ Why is that funny? If you bring power and sewer to
                       the lot you've also improved it. You can spend a
                       lot of money on these improvements.
                       \_ I will convert a land to dumpster where people
                          dump shit into it. Will that increase the value
                          of the land since I spent money digging and putting
                          up infrastructures for it?
                          \_ Yes, because that's an investment setup, where
                             the payoff is people paying you to dump there.
                             If you don't charge, that's your problem.
                 \_ That makes complete sense. For a condo, MOST of the value
                    is in the building and not the land.
        \_ الله أَكْ!
2008/8/8-13 [Reference/RealEstate] UID:50826 Activity:low
8/8     Interest rates have risen over the past several years, but for now
        are still at historically low levels.  Favorable interest rates,
        combined with the new first-time homebuyer tax credit of 10% of the
        price of a home (up to a maximum of $7,500, applicable to certain
        home buyers) might add up to a good time for you to start searching
        for your new home.
        \_ if I wait, I can collect more cash, wait for interest rates to go
           up, which will cause house values to go down.  Then I can buy:
           - a cheaper house
           - with higher interest rates
           - and a smaller mortgage (on account of a cheaper house and having
             more cash)
           - and I can refi if the interest rate drops
           - and live like a renter for the next 3 years while the other guy
             is 3 years into his $800K mortgage already
             is 3 years into his $800K mortgage already
             \_ What if it's not 3 years? What if rates rise but prices
                don't fall enough to offset them? If you can comfortably
                afford to buy now then just buy now. If you can't then don't.
                PS. Is there some reason you keep deleting this?
                \_ it's not me that's deleting it.
                   if I can comfortably rent, why not rent?  I can always buy
                   later with more down payment.
                   \_ How do you know that home prices are going to go down?
                      Which area are you interested in?
                      \_ how do you know home prices are going up?
                         \_ I don't know which way they are going to go. Neither
                            do you, actually, you are taking a chance.
                            \_ I agree.
        \_ http://www.youtube.com/watch?v=qt_GhcQ5EtU
2008/8/4-8 [Reference/RealEstate] UID:50772 Activity:nil
8/3     Bombings Target Animal Researchers
        http://csua.org/u/m09
        I gotta say, it takes a special kind of crazy to target a
        neuroscientist for working with mice.
2008/8/2-8 [Reference/RealEstate] UID:50764 Activity:nil
8/1     America's Most Overpriced ZIP Codes (SF #6)
        http://preview.tinyurl.com/6y7264
        \_ I am curious, are you predicting that SF real estate is going to
           fall more than the median for the next few years? Cause I sure
           don't think that will happen.
           \_ Me? I don't know. I'm posting a Forbes article. Maybe it won't
              grow as much as the median? An investment's worth is usually
              considered for its growth potential. Do you think housing
              "P/E" is irrelevant?
              \_ I think in the long run, housing in SF is a better
                 than average real estate investment. I am not so sure about
                 that specific zip code listed (The Sunset). Rents are shooting
                 up right now, so it should improve the P/E situation, but I
                 think that different regions of the country have different
                 P/E's and will continue to do so, for very good reasons.
        \_ San Jose is 10th. I should have bought a property in Sunnyvale
           and San Jose 10 years ago. Every one of my city friends says
           it's a dump but the suburban loving ones bought it long time
           ago and never looked back. ARGHHHHH FUCK my city friends.
           \_ Well, 1998 isn't now. I doubt SJ was in the same price vs. rent
              class then. (to be fair, "SJ" and "SF" are too broad when this
              article is referring to specific zip codes)
           \_ Why didn't you buy a house in the city 10 years ago then?
2008/7/29-8/5 [Reference/RealEstate] UID:50724 Activity:nil
7/29    Turns out that putting people in housing actually reduces
        homelessness, who could have guessed that?
        http://www.nytimes.com/2008/07/30/us/30homeless.html?hp
        \_ And we care because... ?
        \_ Does that include a nurse maid to wipe their ass? I thought it was
           "teach a man to fish", not "give him a fish."
           \_ Because the govt wastes time and money to create reports on such
              obvious matters?  -- !OP
2008/7/29 [Reference/BayArea, Reference/RealEstate] UID:50716 Activity:high 90%like:50720
7/29    Swami! Your prediction is off by 6 months!!! You SUCK
        http://money.cnn.com/2008/07/28/real_estate/another_home_price_dip/index.htm?cnn=yes
        \_ Wow San Francisco went UP by 22%. How about San Jose, Sunnyvale,
           Mountain View, Santa Clara, etc?
           \_ Fuck SF. Let them pay for their own stupid bridges.
2008/7/23-28 [Reference/RealEstate] UID:50666 Activity:low
7/23    San Diego wants to be a sanctuary city, a foreclosure sanctuary,
        that is:
        http://preview.tinyurl.com/5f9lpv
        \_ Wow, that's an interesting idea.  I think I'll go buy 10 houses
           in San Diego!
           \- "Bang Fax", one step beyind JingleMail
           http://www.cbsnews.com/stories/2008/07/23/national/main4287473.shtml
           \_ Does life insurance cover suicide?  Doh!?
              And will the house be haunted now?
           \_ I just don't get this, why shoot yourself? Why not go down,
              guns blazing, defending your property?
              \_ Because not everyone is a violent psychopath?
                 \_ Better to shoot yourself?
2008/7/16-23 [Reference/RealEstate, Politics/Domestic/California/Prop] UID:50601 Activity:kinda low
7/16    Support air-drying laundry.  Save energy.
        http://www.laundrylist.org
        \_ I just learned that a friend's home owner's association has a rule
           against drying laundry outside, even in your backyard.  I'm still
           flabbergasted by this.
           \_ Why? Some won't even let you keep your garage door open
              longer than it takes to put your car in.
           \_ Most HOA's do.  This is one of many activities associated with
              poor folks, that are perceieved as lowering property values.
           \_ Banning this in front yards I can understand.  But backyards?
           \_ Banning this in frontyards I can understand.  But backyards?
           \_ Some HOAs don't even let you keep your garage door open for
              longer than it takes to park your car.
              \_ Is this for lowering auto theft rate?  If not, I'd think
                 leaving doors open on garages with Porsches and Mercedes
                 inside would raise property values.
                 \_ No, it's because the inside of garages is usually
                    cluttered with junk. BTW, my old neighbor used to park his
                    new Porsche on his lawn. Talk about conflicting statements.
              \_ So, I figure a lack of HOA add $20,000 or so to the value of
                 the house.  Any opinions?
                 \_ I don't know, but a lack of HOA fees probably adds value.
                 \_ depends on HOA amount... but do some math
           \_ Rule #632 why you should never buy a condo - stuffy HOAs
              telling you what to do.
              \_ HOA is not limited to condos.
                 \_ Don't most new suburban developments these days have
                    HOAs?
                    \_ Yes it is very true. Take a look at the Rosedale
                       Community in Azusa. You have 2 HOAs. One is the North
                       HOA at $150, and the other one is the South HOA at
                       about $150. Then there is Mello-Roos that jacks your
                       property tax to about 1.75%, because the state of
                       CA no longer can pay for new schools in that new
                       area. We're talking about "cheap" homes between
                       $450K to $750K.
                        http://www.rosedaleazusa.com/community
                       New SFH today have HOAs in addition to Mello-Roos.
                       I'm talking about S Cal. N Cal doesn't seem to have
                       that type of shit, presumably because it's regulated
                       growth so no need to rebuild schools/pipes/wires.
                       \_ ^regulated growth^farther from Mexico^
                          \_ what does Mehico have anything to do with this?
                             \_ Rub your two brain cells together and you
                                will figure it out.
                                \_ I get it, you think IMMIGRANTS cause all
                                   the problems that S Cal has. Yes immigrants
                                   are bad GO BACK HOME IMMIGRANTS!
                                   \_ ILLEGAL immigrants are hard to plan
                                      for and regulate.
2008/7/15-23 [Reference/RealEstate] UID:50584 Activity:nil
7/15    Nouriel Roubini feels a great disturbance in the Force:
        This is by far the worst financial crisis since the Great Depression.
        Hundreds of small banks with massive exposure to real estate (the
        average small bank has 67% of its assets in real estate) will go bust.
        Dozens of large regional/national banks (a la IndyMac) are also
        bankrupt given their extreme exposure to real estate and will also go
        bust.
        Some major money center banks are also semi-insolvent and while they
        are deemed too big to fail their rescue with FDIC money will be
        extremely costly.
        In a few years time there will be no major independent broker dealers
        as their business model (securitization, slice & dice and transfer of
        toxic credit risk and piling fees upon fees rather than earning income
        from holding credit risk) is bust ...
        \_ Young Padawan, you have obviously never lived through a real
           recession. My WFC is up 25% today, BAC up 10%, KRE and KBE up
           recession. My WFC is up 33% today, BAC up 22%, KRE and KBE up
           almost as much...
2008/7/14-16 [Reference/RealEstate] UID:50569 Activity:kinda low
7/14    Ahem, in case you've all forgotten... HOUSING ONLY GOES UP!
        BUY NOW BEFORE YOU'RE PRICED OUT!
        \_ Hold on, is this in response to the banking industry, where
           you believe that owning a home is a good hedge against a collapsing
           banking, or... that you are being sarcastic and waiting for the
           banking industry to drag down the housing market and laughing
           at people who are tied up to their homes?
        \_ you're doing a great job scoring points against your imaginary
           friends.
           \_ tom is imaginary?  Dang, that explains a lot.
              \_ Please provide a reference where I suggested to anyone that
                 housing only goes up, or that they should buy before they're
                 priced out.  Idiot.  -tom
        \_ I agree.  Now is a great time to get a good deal.  Unfortunately it
           is much harder to get a loan.  I've found quite a few cash flow
           positive investment properties lately.  Also, all of the big
           investment groups are gathering cash to buy up all of the available
           properties while everyone else shies away.
        \_ Why didn't the Great Swami warn us this was going to happen?
2008/7/11-13 [Reference/RealEstate] UID:50533 Activity:nil
7/11    The Failure Of Neoliberalism
        Charlie Rangel and his 4 rent-controlled apartments in NY, including
        one he uses as an office.
        http://www.nytimes.com/2008/07/11/nyregion/11rangel.html
        \_ Is this a sarcastic joke about the previous post on neoliberalism,
           or am I missing something?
           \_ I didn't post the 'neolib' comment.  Some dumbass keeps adding
              it. -op
2008/7/1-14 [Reference/RealEstate, Politics/Domestic/Election] UID:50432 Activity:nil
6/30    Grim proving ground for Obama's housing policy
        The Boston Globe: http://csua.org/u/lu6
        \_ I hate to sound like a partisan defender, but what do the failures
           cited in this article actually have to do with Obama or his
           proposed policies? Many of the failures began before he became a
           State Senator.
           \_ This is actually Bill Clinton's fault.
2008/6/25-7/14 [Reference/RealEstate, Politics/Domestic/SocialSecurity] UID:50373 Activity:nil
6/25    Home owning Baby Boomers generally screwed
        http://csua.org/u/lsr
        \_ This describes my parents to a T. We are all screwed, actually,
           but the Boomers are screwed more.
2008/6/18-24 [Reference/BayArea, Reference/RealEstate] UID:50290 Activity:nil
6/18    Slowest May in 20 years for Bay Area housing
     http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/06/18/BUBP11B99U.DTL
        "The median price paid was $517,000, down 21.7 percent from a year
        ago."
        "Sales of all home types in San Francisco dipped 3.7 percent, as prices
        declined 5.4 percent to $790,000."
        Ok this is good, but I need MORE!
\_
 _        _    _   _ ____  _     ___  ____  ____   __        _____ _____ _   _
| |      / \  | \ | |  _ \| |   / _ \|  _ \|  _ \  \ \      / /_ _|_   _| | | |
| |     / _ \ |  \| | | | | |  | | | | |_) | | | |  \ \ /\ / / | |  | | | |_| |
| |___ / ___ \| |\  | |_| | |__| |_| |  _ <| |_| |   \ V  V /  | |  | | |  _  |
|_____/_/   \_\_| \_|____/|_____\___/|_| \_\____/     \_/\_/  |___| |_| |_| |_|

    _     __   __ _    ____ _   _ _____
   / \    \ \ / // \  / ___| | | |_   _|
  / _ \    \ V // _ \| |   | |_| | | |
 / ___ \    | |/ ___ \ |___|  _  | | |
/_/   \_\   |_/_/   \_\____|_| |_| |_|
        \_ Your a fag.
          \_ And you're (== you are) an embarrassment to all English speakers.
        \_ Housing prices go up and down but if they go down enough there will
           be a huge ripple effect through the rest of the economy.  You may
           find you don't have a job after housing drops another x%
2008/6/11-13 [Reference/RealEstate, Politics/Foreign] UID:50221 Activity:moderate
6/11    http://www.buffalonews.com/cityregion/easternsuburbs/story/365899.html
        Family finds backyard is off-limits because of conservation easement.
        "Kevin King and his wife, Donna, dream of installing a backyard pool
         But the young couple got a rude awakening when their pool contractor
         drove to Lancaster Town Hall to get the construction permit this
         spring.
        "That's when the Kings learned for the first time since buying their
         home in 2003 that they legally have only a 3-footdeep yard in which to
         build their pool.
        "Or to enjoy a swing set with their kids, ages 3 and 5.
        "Or to do much of anything else, it seems.
        "Turns out the Kings technically aren.t even supposed to mow the grass
         in their 60-footdeep backyard because of a conservation easement."
         \_ Gotta love reporters that don't ask questions.  Why the hell didn't
            these people have due diligence done on their property when they
            bought it?  This sort of thing should be in any contract.
            \_ Yeah, I'm sure the easment was there before they bought the
               property.
            \_ Yeah, the easement was there before they bought the property.
            \_ Srsly. Why is this news? My neighbor when I was growing up
               had a large easement on his property. It was part of the reason
               why his lot was bigger than the others for the same price. I
               forgot why it was there but eventually he got it removed and
               now his property is worth more.
            \_ The question was asked in the article.  The couple claims they
               don't recall the paralegal who sold them the house mentioning
               the easement. They admit to not doing their due diligence in the
               article.  I think the interesting thing here is that the
               the easement. They admit to not doing their due diligence in
               the article.  I think the interesting thing here is that the
               easement is completely pointless in this case.
               \- As associate of an associate of mine bought a house
                  in Los Gatos. It would later turn out the seller paid
                  a nearby autobody shop to close up shop during the
                  buyer's visit. The sale was reversed later on on those
                  grounds. Interesting to note the remedy was an action,
                  not money damages.
                  \_ Totally different case unless you are arguing that
                     the easement was not disclosed which is possible but
                     seems unlikely.
2008/5/30-6/2 [Reference/RealEstate] UID:50097 Activity:low
5/30    http://www.economist.com/displayStory.cfm?story_id=11465476
        Graph shows fall in Case-Shiller national home price index indicates
        worst year-over-year numbers than the Great Depression
        \_ yet I still can't afford a decent home in Silicon Valley
           even with my near 6 digit salary.
           \_ I graduated from BERKELEY yet I'm still debugging other
              people's code. Some CAL English maj graduates still work
              at McD's. So what???
              \_ Name one.
           \_ yeah, it blows doesn't it?
           \_ Sounds like you are underpaid relative to the others who
              live in your area. Move somewhere else or make more money.
           \_ Define "decent"? Are you looking on one income or two?
2008/5/28-6/1 [Reference/RealEstate] UID:50078 Activity:moderate
5/28    I've ruled out the possibility of getting a gun when I collect
        rent in shady neighborhoods. Instead, I may get a Taser. What's
        a good Taser to get that I can conceal well? Taser C2 seems a bit
        whimpy, but Taser M18-L is a bit bulky.
        \_ I tell the landlady I got a job, I'm gonna pay the rent.
           She said 'Yeah'?  I said 'Oh yeah'.  And then she was so nice.
           Lord she was lovey-dovey.  So I go in my room, pack up my things
           and go.  I slip on out the back door and down the streets I go.
           She a-howlin' about the front rent, she'll be luck to get any
           She a-howlin' about the front rent, she'll be lucky to get any
           back rent.
           OW OW OW THEN SHE TAZED ME OW OW OW OW OW OW OW
           \_ that is illegal. taser should only be used for SELF DEFENSE.
              ditto with guns. baseball bat, golf clubs, fists are ok
              in any situation. at any rate, your land lady can't kick
              you out. it takes like a whole year before they can really
              evict you, physically.
              \_ Not even. The unlawful detainer action can be completed
                 in 30 days and it's not more than another 30 before the
                 sheriff comes to kick you out, depending on the schedule
                 of the court.
                 \_ Non-payment of rent is a 3 Day or Quit kind of eviction.
                    It can go pretty fast, even in a place like San Francisco.
                 \_ Also depends on whether tenant files an Answer; if so,
                    welcome to extended court action.
                    \_ No one got my joke.  sad.
        \_ Why not pepper spray?
        \_ Ever heard of a property manager?
           My godfather is a slumlord and he ended up selling certain
           properties when the tenants didn't pay rent because he was afraid
           to go collect it. He should've used a property manager also.
           It's worth a 10% fee to not get a bullet.
           \_ a 10% decrease in revenue for me is 20% loss a year.   -op
              \_ Sounds like a crappy property to own. Why did you buy it?
                 \_ loooooong story. I lived in it till I moved out  -op
        \_ explain why you haul around your wife draped in expensive
           jewelry while you collect rent?  or is that another guy?
           \_ expensive jewelry = relative. iPod and Nike shoes are
              considered fancy in ghettovilles
              \_ We sure have a lot of ambidextrous landlords with
                 concealed carry permits on the motd.
           \_ I'm pretty certain this is the same troll.
              \_ I am a LA Sodan (Toluca Lake).  My wife shot a Home Invader
                 two years ago (before we were married!) and it was a huge
                 legal hassle.  In fact it might have bankrupted her if she
                 wasn't friends with the cops (she was an Assistant DA then).
                 According to her lawyer, "it was a good thing you killed
                 him, because if he was just injured and around for the trial
                 you probably would have lost the suit."  By the way, I learned
                 about this the day before we were married.  Bay Area Sodans:
                 Do NOT judge people from LA.  LA is Different!  There are
                 dangerous people here.         -mossberg590@gmail.com
                 \_ Whoaaa!!! MOST ENTERTAINING RESPOND EVER. Thanks!
                                                        \- ^EVER^EVAR
2008/4/24-5/2 [Reference/RealEstate] UID:49826 Activity:low
4/24    Landlord with a ... Yacht??? No, with landlord rage.
        http://www.csua.org/u/lce (sfgate)
        \_ More: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/04/27/MN0R10CDQC.DTL
        \_ Is he a Libertarian?
           \_ No, but he is a CSUA'er.
              \_ can't finger macy
                 \_ 'finger kip'
                    \_ That's awesome, we should go visit him in prison.  It's
                       Allumnus outreach.  Did anyone here know him?
        \_ Man, they must have some awesome rent to put up with that.
           \_ Once they sue him for everything he owns they will be
              doing even better.  Also how the hell do you buy a 6 unit place
              for 1 million in sf?
              \_ http://www.csua.org/u/lci (5 units, okay)
                 Rental property in The City is valued mostly on the basis
                 of the CapEx, so a building with very low rent isn't worth
                 much.
                 \_ That's not the property.
                 \_ At 20% down that will pay for itself from day one
                    That seems more than reasonable in SF in this market.
                    \_ Yeah, but you have to put up with crappy tenants
                       who won't leave even after you saw a hole in their
                       floor!  Selfish tenants.
                    \_ PITI + maintenance (1% of cost) per year comes out
                       about even in my book, which isn't too bad, but still
                       not exactly a great investment. What are you counting
                       on here to make a profit, capital gains?
                       \_ Deductions + gains + rents will go up (a lot once
                          someone moves)
                          someone moves).  And, if you hold on to the property
                          for long enough some of that money is going to come
                          back to you when you sell.
                          \_ Why would you do that in SF when you can do the
                             same thing in another city that doesn't have a
                             draconian rent control board?
                             \_ Tahkisis will triumph!
                                \_ Sometimes the motd is awesome. -- ilyas
                          \_ If you invest $200k in the stock market and
                             hold it long enough, you are bound to eventually
                             make some money that way, too. Though I have been
                             thinking more about retirement lately and realize
                             that some rental property is about as close as
                             us private sector slobs are going to get to a
                             pension. At least rental income will tend to
                             increase with inflation.
        \_ Our Heros are in the paper again:
           http://www.csua.org/u/lcy
2008/4/23-5/2 [Reference/RealEstate] UID:49816 Activity:nil
4/22    My company is relocating me for a while (2 years probably) and I'm
        thinking of renting out my condo since it's really not a seller's
        market. I'm hoping to break even or lose just a few hundred dollars
        a month by renting it out. How does one calculate depreciation on
        a rental property? I've heard about the Form 46XX amortized
        depreciation form, and without having to do really weird calculations
        that only accountants understand, how much deduction can I expect
        to get from a $500,000 condo that was built in 2003?
        \_ $(Value of improvements)/27.5 per year for 27.5 years. With a house
           you have to deduct the value of the land as it is not an
           improvement (obviously). I am not sure how it works for a condo
           since there is no real land value. Maybe you can depreciate on the
           full $500,000. Remember you have to report the rent as income, but
           you can report the mortgage as an expense. When you sell the
           property you may owe more tax as you have to deduct the depreciation
           from the cost basis. I would get an accountant, because it will
           be worth your while at that point as far as finding out which
           maintenance expenses you can deduct or not and which are
           deductible in the year paid versus depreciated over their
           useful lives. Built in 2003 is not relevant. It could have been
           built in 1803 and you can still depreciate over 27.5 years if
           you just bought it. (It's 39 years for commercial property.)
           \_ most useful, THANKS. BTW is HOA considered expense? How
              about property tax?
              \_ Yes and yes.
              \_ 1. Property Tax is operating expense
                 2. Utilites are operating expense if you pay them.
                 3. any trips you take there to check out the property is
                    expense
                 4. Mgmt fees if you have a property manager
                 5. Mortgage expense is only the interest portion.
                 6. Closing Costs for buying the property is an operating
                    expense
                 7. Max is 25k per year you can write off and the rest
                    carries.
                    \_ I've never heard about this. Is this amount
                        a) rent MINUS sum of expense?
                        b) sum of expense?
                        If it's a) then great, but if b) then a lot
                        of landlords are screwed since operating costs
                        almost always exceed that amount (just put in
                        interest mortgage and tax for a cheap $500,000 home)
                 PS I just found out I will have a bunch of deductions and
                    end up GAINING more than I loss ($3000/year) AND I may
                    gain even more if I sell my property. It's really great
                    to be a landlord. I love cheap condos.
                    \_ #7 was confusing. He means you can write off 25k of
                       losses vs. your regular income. But this actually
                       has a phaseout at higher income levels. Making $3k/yr
                       isn't really that great, since you will have to pay
                       taxes on it, at your marginal rate.
                 \_ Don't forget rental property insurance premium and
                    maintenance/repair cost.  -- !PP
        \_ Don't enter the rental business if your condo is in SF.  See the
           "Landlord" thread above.
2008/4/22-5/2 [Politics/Domestic/California, Reference/RealEstate] UID:49797 Activity:nil
        4/22    Yes, they are illiterate peasants.
        http://www.wltx.com/news/story.aspx?storyid=61193
        \_ "Back in January, he became the first Colorado lawmaker censured
           by the House, after he kicked a newspaper photographer for taking
           his picture during a prayer."  Sounds like a classy guy.
           \_ He was in prayer, and someone was at his feet clicking away.  He
              nudged him away with his foot.  And what does that have to do
              with the correct statement that most (if not all?) illegals from
              south of the border are indeed illiterate peasants?
              \_ Do you have a link for that?  Just curious.
                 \_ http://cbs4denver.com/politics/bruce.photographer.kick.2.636572.html
                 "Bruce told the committee that the photographer goaded him and
                 was responsible for creating a disruption. Bruce also denied
                 that what he did was a kick, saying he gently pushed the
                 photographer away with his foot."
                 \_ Colorado house votes 63-1 to censure him. Did all those
                    Republicans who voted for the motion fear Political correctness?
                 \_ Colorado house votes 62-1 to censure him. Did all those
                    GOP members who voted for the motion fear PC?
                    http://www.csua.org/u/lbz
        \_ so he calls it like he sees it, and gets in hot water.  This is
           classic stifling effect of 'political correctness'
           \_ THE MAN IS KEEPING HIM DOWN!
           \_ being a jerk has always been impolitic
2008/4/15-23 [Finance/Investment, Reference/RealEstate] UID:49754 Activity:nil
4/15    Massive numbers of homes with negative equity
        http://www.sfgate.com/cgi-bin/object/article?f=/c/a/2008/04/15/BULE105CR4.DTL&o=0
        and the associated article:
        http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/04/15/BULE105CR4.DTL
        I had no idea the negative equity problem was as widespread as the
        first link would suggest.
        \_ It's "Number of homes purchased in 2006"!
        \_ It's "homes ***purchased in 2006*** with negative equity"!
            \_ well taht certainly lowers the scale of the problem, but its
               still pretty big.
        \_ "most affected are those who bought recently with little or no money
           down". hahah, damn fools.
           \_ I'd rather be negative equity with no money down than in the
              same situation but 20% commited.
              \_ Well, with 20% down and the same price they would be in a
                 better situation with the mortgage. The example woman
                 seemed to still want to live in the house she bought.
                 She bought more house than she could afford, relying on
                 unreasonable price increases.
        \_ ObSuburbsSuck
2008/4/8-12 [Reference/RealEstate] UID:49687 Activity:low
4/8     http://www.msnbc.msn.com/id/23997412
        Short sale rules the market! Auswami was right!!!
        \_ Swami predicted a nadir in 2007.
           \_ Meh, 2 out of 3 ain't bad.
           \_ Swami did no such thing. Swami was making fun of the request. -GS
              \_ at least twice?
                 \_ http://csua.com/2005/03/22/#36812
                    http://csua.com/2005/06/06/#37986
                    false
                    false (sarcasm is hard to detect over ascii, I admit)
                    \_ What's the sarcasm?  Swami really didn't think the
                       housing market would go down?  Swami thought it was
                       OK to predict doom but not to make any specific
                       predictions?
                       \_ Your brain has been classified as: small
                          \- you must pay me 5cents
2008/4/7-12 [Finance/Banking, Reference/RealEstate] UID:49678 Activity:nil
4/6     Famed Venice eatery offering discount to 'poor' U.S. tourists
        http://www.csua.org/u/l8c
        'A sign posted outside the restaurant at the weekend reads:
        "Harry's Bar of Venice, in an effort to make the American victims of
        subprime loans happier, has decided to give them a special 20 percent
        discount on all items of the menu during the short term of their
        recovery."'
2008/4/6-12 [Reference/RealEstate] UID:49674 Activity:kinda low
4/6     Boy, you thought the suburbs sucked?  Try the exurbs.
        http://www.nytimes.com/2008/04/06/realestate/keymagazine/406ariz-t.html
        \_ What are you getting at? This article seems to be mostly about
           being the 'sucker' in the housing shell game.
        \_ What I learned from this article that this is yet another
           example of a dumb blond. How about you?              -Asian
        \_ The bits I found most interesting:

           "They happily left space in subdivisions for playgrounds and
           five new elementary schools, which they thought would help
           bring in the young families they were targeting, but they did not
           leave space for parks for older kids or for a high school."

           "In 2005, the local school district appointed a
           superintendent, John Flores, who began pleading with the
           developers for space for a high school (for a while,
           Maricopa schools were admitting 300 new students every
           month). But it was to no avail. Amy Haberbosch, Maricopa's
           former director of planning, told me that developers
           believed high schools lowered property values; she said one
           developer told her he'd rather build a jail on his property
           than a high school."
           \_ Well, I think they're right about the high schools, from their
              own narrow perspecitve.  It is evidence of their narrow focus
              on building homes they think people will buy rather than
              building a community.
              \_ I've lived near Berkeley High.  I'd much prefer that to
                 living next to a jail.  But more importantly it made
                 it clear just how fucked people who moved to the boonies
                 because "it's better for the kids" are going to be in 5
                 years.  Especially when they can't afford to move because
                 the market has melted.
                 \_ Berkeley High isn't much better than a jail.
                    \_ Wait, let me guess... because there are black
                       people there?
                       \_ No, because there are criminals there. My gf
                          worked at a store on Shattuck and a Berkeley
                          High student worked with her. He would tell her
                          which guys were packing, which people were
                          stealing, which people could be confronted and
                          which were dangerous, and so on. Yes, they were
                          all black, but I think that's an issue you
                          raised first.
                          \_ Guess what, there are criminals in the world.
                             Even in suburban high schools.
                             \_ There are more criminals concentrated
                                in urban high schools than just about
                                anywhere else except maybe jail, which is
                                why they lower property values.
                                \_ Any evidence for this statement?
                                   \_ Other than college campuses (which
                                      self-select a sample) where else do
                                      you find a few thousand adolescent
                                      males (most likely to commit crimes)
                                      in one place?
                                      \_ So, the answer is no, I take it?
                                         There are probably many more criminals
                                         at Vallejo High than Lowell,
                                         for example.
                                         \_ Provide a counterexample of
                                            a place other than prison
                                            that has a higher concentration of
                                            criminals than our high schools:
                                            Just one. Lowell vs. Vallejo is a
                                            tangent.
                                            \_ No, it is not a tangent because
                                               you said "urban" high schools.
                                               The counter-example is easy:
                                               any public housing project
                                               anywhere in the country.
                                               \_ Okay, I'll accept that
                                                  example. So we have
                                                  jail, public housing,
                                                  and high schools.
                                                  Anything else?
                                                  \_ I am having a tough time
                                                     coming up with anything.
                       \_ So, how does it feel to be an idiot racist?
2008/4/2-6 [Reference/RealEstate] UID:49640 Activity:nil
4/2     Time to just start using taxpayer money to tear down excess housing?
        http://www.csua.org/u/l6d
2017/09/25 [General] UID:1000 Activity:popular
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