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I think building a one-off home only makes sense if you are building your dream home; IE, you are willing to pay extra to have it just the way you want it. Building lone houses on spec seems like an obvious losing proposition to me in this market. A tract builder has economies of scale at...

Considering that 685 in 18 months is only 30% of the typical 1,500 in 12 months, I can't imagine they won't sell out in that time period. If they were attempting to go full blast, there could be questions, but since it's such a modest number for the time period, they shouldn't have any trouble.

<a href="http://www.contactmusic.com/news.nsf/story/braxton-facing-foreclosure_1119004">Toni Braxton</a>

Rents are higher than sale prices out here, so, despite everything I said, it's quite possible that these types of house can be rented out for a good profit. At least in theory.

There certainly have been many houses in Riverside sold (both at auction and on the MLS) for less than $75k. Usually they are small, old, in poor shape, have unpermitted modifications, in a bad neighborhood, right by the freeway or railroad tracks, or several/all of the above. If you buy at...

If this is your dream house, and you plan on being there until you die, go for it, IMHO. I'd try to low-ball them a bit though, considering the house has been on the market for more than four months already.

I don't think it's hard to find a realtor who doesn't require a pre-approval letter. Pre-qualfied, maybe. I don't know if out-of-state banks would lend here. Why don't you get preapproved with a large, nationwide bank like BoA or Wells Fargo that has branches in both Texas and California...

Well something is damned well delaying foreclosures. I doubt it's just the Obama plan, though.

For the most part, banks now won't lend to somebody who already owns a house unless they can prove they can afford to make payments on both loans. Of course, if he makes good money, maybe he could afford to do so, if he wanted to. The only downside having the bank take back your house is a...