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If you read "Million Next Door" and some other related books / articles, a common trait with millionaires is that they accumulate wealth, generally with a decent income and a somewhat frugal lifestyle. They also tend to be self-employed and/or business owners (a lot of them first generation...

Oh crap, the NAR agrees with me ... Seriously, I think that the best term to describe properties that are in the pipeline but not actually controlled by the banks is "prospective supply", "future supply" or "bubble supply." FH

All, I think that this narrow definition is the appropriate definition of "shadow inventory" for one main reason - banks only really control the properties that they own (post foreclosure). All of the other homes in the pipeline are basically unavailable supply. We can forecast them, talk...

Well, I think I just won a bet ... A friend's friend's husband is a dentist. About a week ago an old time client walks in and they begin chit-chatting. He works for the FDIC and tells the dentist that they will announce the takeover of a major bank at the end of the month, Oct. 31 to be...

I walked by the other day and it appeared that the renters were having a nice Labor Day party. From what I can tell, they're taking pretty good care of the property. My bet is that the "owner" and the lender have some arrangement where the mortgage or part of it is being paid until the...

IHO, You sure? I see the auction happening 8/28. Was I scooped and if so, how? Thanks, FH

OK, I knew it would happen sooner or later -http://www.redfin.com/CA/Laguna-Niguel/28626-La-Saragosa-92677/home/4928631 So, is this house a turkey or is the realtor calling me a turkey? Not sure, but its funny either way ... FH

Graphix called it, I think. I was told that it was being post-poned by the Loss Mitigation Department until next month, probably to possibly work out a deal. But when I tracked it on the website Fidelityasap.com, it showed that it is still up for sale today. I assume that the website is...

There's a house around the corner that my wife and I have been interested in since last summer. We liked the bones of the house, the lot and the location. It was originally listed at a WTF price but it was obviously on its way to foreclosure. The mini real estate mogul owner had way too many...

Hi All, Its been a while since I posted but I have a question. The wife and I renting but are starting to consider purchasing a home for numerous reasons (more than just dollars and cents). We will only do so if the numbers line up. I think that there are a few homes popping up in our...

I've had a lychee and longan grove in South Florida for the last ten years and have sold a lot of fruit to Vietnamese, Thai, Chinese and Loation (sp?) business partners. Great people and great busineses. Oh, and the cash was nice. I came to expect being paid several thousand dollars at a time...

jcaraway, TIC made you sterile? Man, I thought something was weird. They turned me into a newt. FH

Profette - Our deal was that if we rented within our budget, she chose the spot. It was more than I wanted to spend but a lot less than a mortgage (or divorce attorney). FH

Etheran, When you do your research don't just focus on coverage and premiums. Make sure you get a go handle on how the company pays up after a claim. I saw huge differences in how companies acted after hurricanes in Florida and the Gulf Coast. There are a couple of nation-wide companies...

Congratulations CW - When my wife and I found out that we were moving back to SoCal we both wanted to buy. It took me about 5 minutes to figure out that houses were stupid expensive. It took my wife longer (not that she didn't get it, just that all of our friends in South OC kept saying...

MasterOdM, Good points and a great cautionary tale - BUT - like a lot of things in this housing bubble, common sense can pay off (though its really not that common). My wife and I have been renting a great house from a private homeowner in Dana Point. We did our due dilegence with the...

Lawyerliz, I grew up in South Miami and lived in The Roads area. A buddy of mine told me two months ago that he counted 98 construction cranes still planted in the Brickell area. I have a question for you in the Brevard County area - how is the condo market there? Have prices dropped...

Thanks flmgrip, that is a great site that I missed in my search. Much appreciated, FH

I'm in the process of renting out my house while I'm being moved to a new duty station. I want to hold onto the house for the long term and I think that if I follow the basic intelligent steps, I stand a good chance of getting a decent renter. I've spoken with several property managers and...

AV Paperboy, From your posts on this thread and others, you're obviously an intelligent individual that understands the market, the law, financing and your situation. My bet is that the main reason you got into the condo was to make some equity and gain some wealth in addition to having a...