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I am 25 and a homeowner although not in SoCal. I actively encouraged all my friends NOT to buy houses in SoCal and was puzzled why some bought houses north of $500,000 in Victorville. The prices in Southern California never really made sense with regards to rents in the 2004-present time...

Unless the second is willing to show up with funds to pay off the first the second gets wiped out. Considering these were likely in a CMBS there is almost no chance that will happen. The OC tax liens are a prior claim so you would have to pay that. You may also have to pay some miscellaneous...

Just out of curiousity why not bid for a almost new property on the courtroom steps like: 30 Crimson Rose up for auction 8/1 with a notice of sale amount of $1.08mil. but there is a $380k second mortgage too. Lot Size: 6500 SF YoC: 2005 SF: 3403 I am 99% sure you can...

A few things to keep in mind for open houses: 1) Most people looking at an open house are not serious buyers. 2) Your neighbors will be interested in seeing the inside of your house so they can gossip about it. 3) If your house is priced attractively sometimes your neighbors will...

Okay I did a rent to own calculation instead for a house in a DC suburb (McLean, VA): Median Income in McLean: $123,000 Sale Price: $1,400,000 Monthly Rent: $4300 Commission: 6% Misc Closing Costs: 2% Net Sale Price: $1,288,000 Property Taxes: $9785/year = $815/month...

Personally I could see 40-50% drops in Irvine being more than plausible. Median mortgage payments for condos in OC are 1.6x median rents to compensate buyers for the risk of further depreciation prices may have to fall greater than the 37% to bring this to parity. Given that TIC has been much...

Vanguard California Tax Exempt Money Market (VCTXX) is at 3.45% and Vanguard Prime Money Market (VMMXX) at 4.85% after expense ratios. I have much more faith in Vanguard than Countrywide Bank or Fremont Savings and Loan at the moment.

1/3 of my monthly income after taxes going to mortgage payment. If I could do that with 20% down and 15 year amortization that would be splendid. I most likely will be buying with a substantial down payment or all cash.

Here's my advice: 1) In a falling market (such as the one in OC) use a realtor and consider offering an above market commission to the buyer's agent. Many realtors sort the listings by commission split. 2) Price your house competitively with what market is. Not what houses on your...

That actually looks like a pretty nice place nirvinerealtor. I don't think I will be buying around here for awhile though as I still feel there is a long fall down from here. If you need help on getting a mortgage buylowsellhigh shoot me a pm since I live with 2 mortgage brokers and I can...