Foreclosed homes beverly hills california apartments,steak houses st pete beach fl usa,staten island homes tottenville high,real estate san antonio 78259 weather - And More

25.01.2014
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I don’t believe investors can even rationalize positive cash-flow in low-end markets. My second comment is that there are many people who can afford any house they want, it’s just that there are way more multimillion dollar houses than there are people who can afford them.
Perhaps you haven’t noticed, but there is a WORLD of difference between a Hotel and a Motel.
Owners of mansions and estates, often design their pools to have the feel of swimming pools as those found on the grounds of great Hotels. And as the (over inflated) prices of Beverly Hills real~estate continue to slump, just ask yourself what that does to housing prices in other parts of Los Angeles County.
Either way, banksters will lose more money pushing these houses through foreclosure than they will using Fed money to prop up their balance sheets. Gotta hand it to the banksters on propping up world commodity prices, while playing massive extend-and-pretend in RE… perhaps never in history have the fates of so many nations been juggled so precariously.
In fact, if the market is rapidly declining, the opportunity costs of holding onto a large number of properties in decline would be extremely high. According to the NAR, the national median house price is around 173,000 and according to the Census Bureau, the national median property tax is 2.85%.
Everybody on the selling end is looking to close the deal ASAP…they get paid 100% upfront no matter how swarmy the buyer is. None of this will seem real to me until one of the characters from Real Housewives of Beverly Hills lose their home. There are literally hundreds of homes scheduled to go to foreclosure sale here in The Platinum Triangle, I follow them as I am a REO agent, the second house above is my listing. Each month the lenders postpone the sales, a very small few go to sale, and they keep postponing.
New owners, unlike the deadbeats in the house for free, hire contractors, buy carpet and paint and go to Home Depot for all sorts of things for the house-about 17 people benefit from this. If the lenders are right and we are in for a rough time then I would have thought being the first to sell at better pricing levels was the best policy instead of waiting for another drop. Right now a non performing asset is on the books as an asset and at full bubble price until they foreclose.
More like the big banks swapped MBS for treasuries and mark to market disappeared with FASB changes. I can now buy a lovely 5 room 2 bed for less than the price of a studio during the Great Rampage. If only we were not paying with our very blood for the immense tower of unrepayable debt that was racked up in the Rampage years, I’d be in heaven. In case you haven’t noticed, nicer homes (much nicer) are currently pending for 300k less.
Second house above, according to the listing, has no heating, no cooling, and no parking — that’s gotta bring the value down quite a bit, no? Christian stevens, I agree on the banks holding on to it so they can declare it as an asset and due to recent regulations, they don’t even have to mark it at market rates-just mark to fantasy. Let us help you with everything you need in buying or selling your Beverly Hills home and investment property.  As one of the leading discount real estate firm in Beverly Hills and the Westside, we are dedicated to providing the unparallaed service while changing the traditional luxury real estate industry. I suppose they have to at least try and find a sucker, but jeez, I’d rather pick it up after the foreclosure. The second are the old folks who have lived at a place forever, and are pricing things at 2007 or so prices. Yikes…isn’t 10050 Cielo Drive the site of the Manson murders, or am I confused? Following recent court cases, buyers need to worry about the chain of title being broken and whether their REO purchase may be challenged in future.
Everything about this house, and the bizarre and incomprehensible prices it fetched at different stages, including the way the foreclosure auction was probably handled (intra-bank), reinforces to me that I made exactly the right choice to move to Alpharetta, GA and leave San Jose behind.
Between the state budget, the black cloud of over-priced foreclosures, terrible unemployment, and a remaining housing bubble of epic proportions, I’d prefer to watch this spectacle at a distance. Just for fun, I went onto Income Stats and although there are a few zips in SJ where average income is about $30k – $45k per year (depending on exact zip), *nonetheless many zips in SJ are the same or exceed* average income for Alpharetta GA (30004, 30005, 30009, 30022, 30023). DeShawn Snow, one of the original Real Housewives of Atlanta, lived in Alpharetta until her divorce from her football player spouse.
There several Michelin 1, 2, and 3 star restaurants here in the Bay Area, my favorite one is in Woodside (The Village Pub). Next time, try not to trash Cali in order to feel good about your personal decision to relocate in another part of the country. Tim, you just made a very wise move from living in a very expensive state to a less expensive state. This is not a criticism, as a native Californian (4th-generation) I am enthused about my State.
Nonetheless, I’m curious as to why you are posting here if things in GA are so wonderful.
Listing famous people does not make for any real culture, and if you think Santana Row is anything but Disneyland with worse traffic, I can’t help you.


I’m not down on CA, just done with the hypnotic bullshit that pretends that everyone here is wealthy, can afford to live in million dollar homes, and can enjoy the good life in the fun and sun. And when the people (rightfully) reject the tax increase this summer, then things get very interesting. YES PLEASE GO TO ATLANTA THE HOT,HUMID VERSION OF GHETTO OAKLAND, REAL ESTATE PRICES ARE DICTATED BY SUPPLY AND DEMAND!! As for the uber-rich here in Santa Clara County, well, they had better keep making big money, because your going to need that money to keep the teeming, broke, unemployed masses as far away as possible. Anyway, I dig live jazz (hard-bop, not that fern jazz crap), so I can never stray too far from the ‘hood. You’ve encapsulated the dream of many of us in SoCal, too, as we long for a sane solution to the insane cost of housing here. My best friend lives south of Atlanta, I’d move there in a heartbeat if there were surf there.
While you can borrow most of the price of a modest home because it is relatively easy to replace a modest job with another that pays comparable wages, it is almost impossible to replace a $1M a year job when you lose it, let alone the type of income you need to support a house that costs $10M or more. I see that Cindy Spelling has her megamansion, that cost $45M to build, on the market for over $100M. The 1992 price gives perspective on a place that should find a buyer once priced at $4M or so. My guess would be the 250k price was a sweetheart deal of some kind – selling at below cost to a relative or some such. The purchase price is only the beginning cost for this home, its all about maintenance and up kept not only the building but the landscaping,cleaning, heating all pointing to a large monthly tab. Way back in the late 80’s I worked wiring homes similar to this in the Sacramento foothills. With jumbo loans out of style … who can afford to pop a couple million for a down payment on a $8 million dollar mansion? Advanced Accounting #499 – Large corps must do intercompany eliminations upon consolidating these three companies owned by bank Whatever.
America’s CPAs that specialize in financial reporting for banks and financial institutions will be computing exact figures now that audit season is upon us.
The only homes selling right now in CA are the ones at the low-end where investors can rationalize cash-flow from renting even though the prices may go lower.
The answer is simple…there wasn’t any incentive to encourage equity or its dilution!
During this time the folks who are not paying their mortgage are also not paying their property taxes, in a state with a $25,000,000,000 shortfall that means we get to close libraries and parks, cut teachers and firemen to balance a budget that cannot be balanced until lenders flush the toilet on these loans and get rid of them to new owners. What a great way to improve unemployment and stimulate the economy instead of sweeping the mess under the rug for a few months. If they all had to write down the loans to market value there would only be 4 solvent banks in this country. The reality is there are more folks looking to get into the market with a downpayment than are not paying their mortgage and they are livid prices are being propped up for deadbeats. None of you people were complaining when Real Estate went psycho, but now you’ve got truckloads of buyers at the right price and want to blame something stupid like Orhamacare.
I was screaming like a wounded animal as one place after another was priced ever further away from me.
Unfortunately, the toll for those heady years that profited very few people very much, is being extracted from everyone, including those who were cut out of the opportunity to buy a reasonably priced home.
Depending on how you account for it, you can mark it as a liability or an asset- I have no faith in a corporate balance sheets-mostly because I worked on those darn things for so long.
By the way that second property has the same address as the Sharon Tate home where Charles Manson and his gang killed her and her 4 friends. Even in SJ, such as Santana Row area, I’ve never heard anyone listen to the Doobi Brothers (are you a boomer???). It is my hope that home prices will continue the current trend downwards since we love it here so much and enjoy the many attributes to living here, not to mention all the free moisturizer via the air from the Pacific and the Marine Layer. I live in Chicago but it is nowhere close to being as expensive as New York or southern California. Like most people who live here, you can’t tell the difference between money and taste.
They pay a staggering amount of money for little to nothing so they can stay away from…well, the other San Jose.
People who have sunk their whole savings and all their self-deception into CA cannot bring themselves to see that it isn’t 1963, and that things are not what they seem to be. The truth is that the amount of money people actually make in Santa Clara (about 82k median income for a family) is nowhere close to what it costs to live here. THERE IS ZERO DEMAND TO RESIDE IN GHETTO AFRICA ATLANTA, THAT’S WHY YOU CAN BUY YOUR $200K RAT-SHACK!
Very overcrowded, the 405 is a nightmare, and a crappy house that a plumber’s apprentice bought for peanuts 30 years ago now requires 2 six-figure incomes to own. That is why, back in the sane pre-bubble days, you could not get a loan to buy a house like this, and I believe that in the future you won’t either. How big a pool of buyers are there for something like this, and would they not prefer to build their own dreams?


On top of that, even if you get a tenant, good luck on getting them to pay on time every month. I looked at condos substantially inferior to my rental apartment that were priced at points where I would have paid twice as much to buy a tiny studio as rent my large 4 room 1 bed.
The first is the set which was bought in 2006, and they want to get out for what they paid for it. These folks clearly haven’t been following the economy and have absolutely no clue about macro-economics. Goodbye ridiculous rent, goodbye 450k chicken shacks and 400k condos with $500 hoa fees sitting in crappy school districts. The whole Bay Area can only support two real jazz clubs of the same name, and neither can make it without hip-hop and soft R&B performers bringing in the cash. Not much going on there, but there is plenty to do in Atlanta, especially the Buckhead area and into midtown. For people who choose to live a more financially prudent lifestyle, there are plenty of affordable places to live in our country. I actually design, build and make things–the activities that put San Jose on the map in the first place.
We used to walk around Campbell (a laughable cow-town pretending to be something upscale) and snigger at the chickenshacks selling for 450k. That’s why all over my neighborhood are modest houses with ugly rental projects in back, and more cars, transient populations, and all that goes with stuffing people into tiny spaces and not really being able to afford a house (or a condo, for that matter). Going forward into a troubled economy, anyone paying $8.5M will be catching a falling knife. Tile v formica, granite v tile, multitudes of can lights and ceiling fans, one bathroom usually has a step up tub with a window and a sauna.
Maybe Dr Housing Bubble can confirm that, or do a post on the specific shenanigans that are keeping the shady banksters afloat and receiving record bonuses. Then it would hit the high end, the reason being that the rich usually have a bigger financial cushion and could wait it out longer. This property Features an Open Floor Plan with 4 Spacious Bedrooms, Custom Closets and 4.5 Bathrooms.
My guess is a 5-year ARM was used, and that has either recast or reset so that the payments can no longer be afforded.
I feel somewhat sorry for those underwater home owners who fell for the bait during the bubble years.
Sorry, the idea that the Bay Area is all that is a fraud–and soon to be a very, very broke-ass fraud.
Fighting for a 2000k month studio apt in NYC and SF is not something I care to endure again for the thrill of a trendy meal or a bad art opening.
I liked LA much more than San Jose, but I’m not going to live in a tiny apt, spending half my income, getting nowhere, just to eat at a mediocre restaurant on Ventura Blvd.
The real killers are a) the insane amount of property tax even at 1% and b) the UTILITY bills!. Public Rooms include Family Room with Vaulted Wood Beam Ceilings and French Doors, Adjacent to Gourmet Kitchen with Granite Counter Tops, Travertine Flooring and Stainless Steel Appliances.
Before that was Boulder, NYC, Dallas, Chicago, Florida, DC, Denver, Santa Fe, and Lexington KY.
Los Altos is just a boring, super-rich enclave that is so relieved that Palo Alto is between them and East Palo Alto.
I’d take that cash and buy a gorgeous spread outside Albuquerque, or with a great view of a lake in New Hampshire, and then fly into Boston for a show. 1990, that you had to have at least 50% down for any house over $500K, and over $1M, you had to either pay cash, or get a mortgage against your cash in bonds or the bank. Spacious Master Suite Wing includes Walk-In Closets, French Doors, and Master Bath with Dual Vanity, Over-sized Shower, Spa Tub, & Bidet.
That should’ve been a clue stick, but some people need to get hit repeatedly before they wise up. Every area including Beverly Hills, Santa Monica, Brentwood, Pacific Palisades, Malibu and Westwood, are prime for another 20 – 25% drop. And though I would not consider the houses well-made by say, Chicago standards, they are fine for the climate–about the same as the shoddy houses here in San Jose.
All I’m saying is look around, America is huge and there are many, many fantastic places to live. Additional Features Include Attached Office or 5th Bedroom with High Ceilings and Own Bathroom, Loft, Hardwood Floors, Extensive Use of Stone, Wood Windows, Recessed Lighting, & Over-sized Subterranean Garage.
Let the very rich (and the very large number of very rich pretenders) and the very poor sort it out among themselves in desirable CA.



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