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Right, so what I'm thinking is that the bank was the highest bidder. Why would they think they can get more by selling it later in a declining market? No one showed up to bid on it for a 20% discount that the bank got it at, why would a 10% be enough? The only rationale I could think of is...

My dream house is any house that's owned free and clear.

When the bank "takes something back" they still have to buy it at auction, right? So if it was worth more someone would have offered more is my thinking. The bank's not a normal customer because it has the cash and has already effectively paid that same price. It just wants to get rid of...

Yeah, they just do two glasses. It tastes just the same.

I think we should have a QH-IHB get-together for some beers/vino at the wine place down in the shopping center. Sounds like a lot of IHBer's live in and around QH.

Not a good idea unless the offers are contingent upon not getting the other offer accepted. I recommend you work with an attorney on that issue since a RE agent might bungle the situation leaving you on the hook for two offers.

I think the fundamental wrongness with the logic by the press and the government is that saving is a bad thing. Not sure why that happened, but wouldn't we be better off with less garbage for the landfill and more security so the government wouldn't have to bail us all out every time we got...

I say I don't like El Camino, but I do agree that's where you could find an opportunity to buy, scrape and build your own custom home. The lack of HOA/mello roos is a big plus with that also. The Ranch, though, is a little nicer and has the same positives. Deer Park kindof splits the two.

Man, I'm in the 30 to dead category already.

Sell, take your exemption on capital gains on the sale of the home, put it in a high-yield CD for two years, then buy their final modest home after that. I say modest since I know that a lot of retirees and older folks that can't seem to take that step down and will eventually, as they get...

El Camino. It looks like Santa Ana.

Good point, but that's still a great return on something that was considered to be a pretty sleepy investment a few years ago. Actually, I would say it's a fantastic return. I've got to think there's some overcorrection there, no sign that I can tell that municipalities are going to start...

Tax free munis I would think since I'm getting a tax-free adjusted return and the return is higher than the 7%. Plus, I bet that a municipality is a lot more reliable debtor than an individual. It's a composite of well-diversified individuals.

That sucks. Any other reach through vehicles, like an ETF that buys them up?

I think your taxes would likely adjust up or down based on the sales price. Just auction it off.

How do you buy those high-yield munis? I want to grab some.

I'd believe that if it was a normal business, but RE is so dependent upon perceived value that tightly controlled spin and BS are of paramount importance. Every educated consumer is like poison to them. I'm a renter and haven't purchased yet largely because of this site. I've got the down...

I have a different take. TIC is the one that causes the run up in the first place that forces everyone to overpay because of their monopoly. It's not like they do that for the good of everyone. How about keeping prices reasonable when they were going up like crazy?

Feathers in a vacuum fall just as fast as a bowling ball. No buyers = vacuum.

A trust is a fiduciary relationship with respect to property in which one person, the trustee, holds title to the property for the benefit of another person, the beneficiary, which arises out of a manifestation of intent to create it for a legal purpose. Believe it or not, I did that from...