But that was yesterday I had the world in my hands But it's not the end of my world Just a slight change of plans That was yesterday But today life goes on No more hiding in yesterday 'Cause yesterday's gone, ah-ah ah-ah
Wednesday night was entertaining with talk about the local real estate market and national issues influencing it with Pat Regnier from Money Magazine who was in attendance doing research for an upcoming story. We will be having gatherings more frequently going forward.
Several posts this week were picked up by Patrick.net. Each post he picks up gets double readership. The post is seen by regular IHB readers when it debuts, then he sends nearly the same amount of traffic the from his site a day or two later. Thank you, Patrick.
Writer's Corner
The story of the week was my email address getting hacked. A couple of weeks ago someone gained access to a different email account of mine and set an autoresponder to deliver a spam message. That account had the same password as my primary account, so the perpetrator discovered my primary account, tried the password and got it. Then they went over to Yahoo, established golfplan18@yahoo.com as an impersonation account. If you see any email from that account, it isn't me.
I have contacted Yahoo about the situation, and they actually want me to verify my identity and send them a copy of my ID and a statement that it isn't me. That is wrong. I am the one being impersonated. They should be contacting the person claiming to be me and asking them for ID. If they can't prove they are me, then the account should be closed. Yahoo has come to believe it is my responsibility to prove I am real. That is crazy. It isn't like Yahoo has to combat thousands of false claims about identity theft. They should be asking the impersonator for ID. If Google challenged me to produce ID on my account because someone claimed I wasn't me, I could prove it to them, and that would be the end of the claim. If I am being unreasonable, please let me know.
This is a distressed property that looks like unemployment.
The property was purchased on 7/16/2004 for $1,036,500. The owners used a $500,000 first mortgage and a $536,500 down payment.
On 3/8/2005 they refinanced with a $503,000 first mortgage and did not extract their equity (the additional $3,000 was likely fees and points).
They have been in default for over a year.
Foreclosure Record Recording Date: 04/23/2010 Document Type: Notice of Default
Foreclosure Record Recording Date: 12/24/2009 Document Type: Notice of Rescission
Foreclosure Record Recording Date: 11/19/2009 Document Type: Notice of Sale
Foreclosure Record Recording Date: 08/17/2009 Document Type: Notice of Default
These owners tried to make loan modifications work to keep their house, but apparently, they simply can't afford to make the modest mortgage payment, and now they have to sell at a loss. The good news for them is that they have plenty of equity because unlike their nieghbors, they didn't pull it all out and spend it.
Home Purchase Price … $1,036,500 Home Purchase Date .... 7/16/2004
Net Gain (Loss) .......... $(143,500) Percent Change .......... -13.8% Annual Appreciation … -1.4%
Cost of Ownership ------------------------------------------------- $950,000 .......... Asking Price $190,000 .......... 20% Down Conventional 4.80% ............... Mortgage Interest Rate $760,000 .......... 30-Year Mortgage $192,252 .......... Income Requirement
$3,987 .......... Monthly Mortgage Payment
$823 .......... Property Tax $0 .......... Special Taxes and Levies (Mello Roos) $79 .......... Homeowners Insurance $174 .......... Homeowners Association Fees ============================================ $5,064 .......... Monthly Cash Outlays
-$966 .......... Tax Savings (% of Interest and Property Tax) -$947 .......... Equity Hidden in Payment $348 .......... Lost Income to Down Payment (net of taxes) $119 .......... Maintenance and Replacement Reserves ============================================ $3,618 .......... Monthly Cost of Ownership
Cash Acquisition Demands ------------------------------------------------------------------------------ $9,500 .......... Furnishing and Move In @1% $9,500 .......... Closing Costs @1% $7,600 ............ Interest Points @1% of Loan $190,000 .......... Down Payment ============================================ $216,600 .......... Total Cash Costs $55,400 ............ Emergency Cash Reserves ============================================ $272,000 .......... Total Savings Needed
Property Details for 8 DESCANSO Irvine, CA 92620 ------------------------------------------------------------------------------ Beds: 4 Baths: 3 full 1 part baths Home size: 3,000 sq ft ($317 / sq ft) Lot Size: 6,370 sq ft Year Built: 1980 Days on Market: 28 Listing Updated: 40332 MLS Number: S618132 Property Type: Single Family, Residential Community: Northwood Tract: Wm ------------------------------------------------------------------------------
This property is in backup or contingent offer status.
Welcome to This Beautiful Home in a Super Cul-De-Sac location on Greenbelt, in the Prestigious Gated Community of Windstream ... No Mello-Roos, great neighborhood ... Highly upgraded, bonus room w/built-in media center & wet bar, remodeled kitchen with center island and granite counter. Spacious master suite has remodeled master bath, vaulted ceiling and walk-in closet, wood/tile/upgraded carpet flooring, custom paint, brick fireplace in living and family room, Plantation shutters, crown molding, lighted ceiling fans, French doors and windows, Inside laundry ... Private sunny backyard w/beautiful built-in spa and barbecue, 3 car attached garage with extended driveway, Great association with pool, spa, tennis, barbecues and gates, Enjoy walking the Hicks Canyon Trail to restaurants, shops and excellent Irvine schools. You will love this home and living in Windstream. You are minutes away from the beautiful Laguna Beach as well as Orange County s entertainment center The Irvine Spectrum!
That description isn't too bad, although I don't understand the Title Case of the first sentence. Perhaps if the bar is lowered enough, realtors can pass the test.
0 comments:
Post a Comment