| SoCal & The Economy ~ Financial Markets ~ Housing ~ Etc Since we've had a few of these threads going over the last several months, I figure we might as well just keep a single thread going where we can discuss all the relevant economic/financial impacts for Southern California...
»So Cal housing bubble ready to pop?
»CA Real Estate Market Study
»Home Values going down the toliet?
»California; More Leaving, Less Coming
»How many tax defaults can u have before u lose your house?
»Homeowners: Mortgage Interest, Property Tax & Uncle Sam
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"Independent thinkers tend to ALWAYS have someone not agreeing with them. It's The non-thinkers that always come in legions." John Callari .:|:. Say no to the IRS Yes to the Fair Tax |
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| I thought I would throw in some of the blogs/sites that I regularly visit to keep up on the latest news...
Calculated Risk
»calculatedrisk.blogspot.com/
Professor Roubini
»www.rgemonitor.com/blog/roubini
Jonathan Lansner
»blogs.ocregister.com/lansner/
Piggington
»piggington.com/
CA Housing Forecast
»www.californiahousingforecast.com/
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"Independent thinkers tend to ALWAYS have someone not agreeing with them. It's The non-thinkers that always come in legions." John Callari .:|:. Say no to the IRS Yes to the Fair Tax |
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| reply to aztecnology
Fun, I purchased a house last weekend =). Regardless of the market though, I'm in for the long run, and not a quick buck, so if the market fluctuates now and then I won't been too concerned.
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| Just out of curiosity what were the specs of the purchase/loan...? Do you feel like you got a good deal relative to the area you purchased in? |
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Reviews:
 ·T-Mobile US
| said by aztecnology:Just out of curiosity what were the specs of the purchase/loan...? Do you feel like you got a good deal relative to the area you purchased in? I purchased the house as a 50/50 partner with my grandmother. The loan terms were a 10/20 loan (interest only the first 10 years, 20 year traditional, rate fixed across the 30). I understand the risks of this type of loan and I will be putting money away in investments to offset my lack of Principal. My goal is to buy out my Grandmother is 10 years, or sell and we split the profits and then I'll have enough in savings and earned to do a full purchase on my own.
We got the house for about $50k under the comps (we set the lowest price on the block). The owner had a previous offer fall through and needed to sell with a quick escrow.
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 CurtesyFlushBababooey, fafafooey, tatatoothy.Premium
join:2002-08-23
Fontana, CA
kudos:2 | What city? |
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| Rancho Santa Margarita |
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CurtesyFlushBababooey, fafafooey, tatatoothy.Premium
join:2002-08-23
Fontana, CA
kudos:2 | $$$$$ |
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Reviews:
·T-Mobile US
| Yes and no. RSM is cheaper than the surrounding areas, Mission Viejo, Irvine, San Clemente, etc.
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CurtesyFlushBababooey, fafafooey, tatatoothy.Premium
join:2002-08-23
Fontana, CA
kudos:2 | House or condo?
I once lived in the canyon below the mesa that RSM would one day be built on.Trabuco Oaks section of Trabuco Canyon.
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Life Member, NRA and CRPA. |
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| House.
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 KibblesPremium
join:1999-07-31
Mission Viejo, CA | reply to nightdesigns
said by nightdesigns:Fun, I purchased a house last weekend =). Regardless of the market though, I'm in for the long run, and not a quick buck, so if the market fluctuates now and then I won't been too concerned. Same here...I sign the papers this weekend.
First/second 320k..buying out my sisters..175k..appraised value last month 696k..left over cash ~ 50k....realtor offering me 850k for the house.. priceless  |
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| reply to aztecnology
Interest rates have really shot up over the last several weeks..
»www.hsh.com/mtghst.html
30-yr FRM 6.91%
15-yr FRM 6.60%
1-yr ARM 6.27% |
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| reply to Kibbles
said by Kibbles:said by nightdesigns:Fun, I purchased a house last weekend =). Regardless of the market though, I'm in for the long run, and not a quick buck, so if the market fluctuates now and then I won't been too concerned. Same here...I sign the papers this weekend. First/second 320k..buying out my sisters..175k..appraised value last month 696k..left over cash ~ 50k....realtor offering me 850k for the house.. priceless If the realtor wants to buy it for $850k( $150k over comps), why aren't you selling...?
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"Independent thinkers tend to ALWAYS have someone not agreeing with them. It's The non-thinkers that always come in legions." John Callari .:|:. Say no to the IRS Yes to the Fair Tax |
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 bobrkYou kids get offa my lawnPremium
join:2000-02-02
San Jose, CA
 ·SONIC.NET
| said by aztecnology:said by Kibbles:said by nightdesigns:Fun, I purchased a house last weekend =). Regardless of the market though, I'm in for the long run, and not a quick buck, so if the market fluctuates now and then I won't been too concerned. Same here...I sign the papers this weekend. First/second 320k..buying out my sisters..175k..appraised value last month 696k..left over cash ~ 50k....realtor offering me 850k for the house.. priceless If the realtor wants to buy it for $850k( $150k over comps), why aren't you selling...? Maybe he's living in it. Some things are more important than money.
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Iraq Coalition Deaths | bobrk |
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| For $300k-$400k in my pocket, i'd live/rent somewhere else... |
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KibblesPremium
join:1999-07-31
Mission Viejo, CA
1 edit | reply to aztecnology
said by aztecnology: If the realtor wants to buy it for $850k( $150k over comps), why aren't you selling...? The property tax is ~ 850 a year....and association dues are 0.
The first house I had was in 1992...in 1998 the ex got it...this house is a keeper. |
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bobrkYou kids get offa my lawnPremium
join:2000-02-02
San Jose, CA Reviews:
·SONIC.NET
| said by Kibbles:said by aztecnology: If the realtor wants to buy it for $850k( $150k over comps), why aren't you selling...? Property tax is ~ 850 a year....and association dues are 0. 850 sounds low. It'll go up when the county reappraises based on your sale.
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Iraq Coalition Deaths | bobrk |
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KibblesPremium
join:1999-07-31
Mission Viejo, CA | said by bobrk:850 sounds low. It'll go up when the county reappraises based on your sale. Nope... »www.oc.ca.gov/assessor/TaxSavePPCinfo.asp |
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bobrkYou kids get offa my lawnPremium
join:2000-02-02
San Jose, CA | Ah, ok. Cool. My taxes are over $8k, thanks to prop 13. |
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