Recent content by a911driver_IHB

I don't necessarily agree with that in its entirety. However, good schools always demand a premium.

One other thing. Your analysis of a potential $500k loss is mitigated by the fact that my max is the equity in the house. I won't have $500k in it for the foreseeable future.

Although I don't directionally disagree, I don't think we are going back to 2000 pricing. That would mean, as an asset class, there was no financial return, which is not the case. Real estate can return somewhere between treasuries and equities over the longer term - hence, this is about 8.5%...

Although I agree it has downside risk, I really don't think it gets back to 2000 pricing. I think it could have another 15% to go. We plan on staying there until our kids are through high school. It is a great house and a great neighborhood. We moved here in 2006 from NoCal and sold a house...

oh, and there are no sales on the street we are buying per Redfin. My understanding is that most of the original owners are still there circa 2000. They bought at $550k, so unlevered return is something like 8.5%. That doesn't give me too much pause. I think I will go short Case-Shiller LA...

I don't know if it was seven homes, but there is one realtor that has sold three-four. Man, I hope I am not catching a falling knife, but we need to settle down. Now 30 year mortgage rates need to calm down. We are using a HELOC for the time being until their is some clarity in the market...

I have noticed over the past few months Oak Creek homes are selling fast. We are in escrow on an Autumn Glen model for just over $1mm. This is the second house on the street sold at that price within two days of coming to market. There are a couple of others slightly larger that have fetched...

The asking price is $1,150,000 or $390 per sqft. I feel the market value is somewhere in neighborhood of $800,000. What do you think? It is 10 Preston (not on MLS yet). I can't find mortgage info on the house, so I don't know how much room the seller has. They bought it in 2001 for $515k.

That is the not the correct way to look at it. It is a call option on a percentage of the upside of the house - not a 3rd mortgage - and probably a zero coupon bond (remember those?). The note holders will then be able to trade those call options and the bond. The current discussion only...

lol

I am sure you are correct, but if anyone would know, they would be on this site. By the way, the tooth fairy visited my house last week. Left $1 under my kids pillow. Still lookin' for the easter bunny.

Can you please recommend someone that knows foreclosure and REO process cold on the buyside? I am sick of looking at MLS because their is no reality to the asking prices. I would rather cut to the chase. We are most interested in Turtle Ridge which is significantly over-valued in MLS land.

We would be building a modest, very modern house. I am guessing we can't even do that if we were to buy an old, small house given deed restrictions, associations, etc... Further, a teardown would probably be in a teardown neighborhood.