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FBI raids apartment management company after anti-trust laws may have been breached
The search happened last week at their Buckhead office.
Real Estate and foreclosure thread
- Thread starter BackwardsEngineer
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I stopped at four minutes. Is there any new information here? Of course, the default answer to a property with a HOA is NO!
Buying a property and accepting an HOA is like enlisting with the Turkish military, where they can give you orders that you must follow, regardless of what you expected.
Never buy into an HOA. It is that simple. If you disagree, feel free to face oppression down the road. Do you like "the system" dictating your life and punishing you for minor infractions? If that is your thing and you enjoy the punishment, maybe an HOA is for you.
And if you really enjoy getting psychopath against other people, maybe getting into a HOA board is right for you.
Buying a property and accepting an HOA is like enlisting with the Turkish military, where they can give you orders that you must follow, regardless of what you expected.
Never buy into an HOA. It is that simple. If you disagree, feel free to face oppression down the road. Do you like "the system" dictating your life and punishing you for minor infractions? If that is your thing and you enjoy the punishment, maybe an HOA is for you.
And if you really enjoy getting psychopath against other people, maybe getting into a HOA board is right for you.
What's the legal status on HOAs and how can you exit/invalidate/challenge their authority?
The whole idea is insane. They have no ownership/equity in the property; who the HELL are they to issue orders, control your use of your own property? Government is bad enough; but with government, there's a path to redress.
Not so much a non-government body just placed in charge, and filled with idlers with too much time and low self-esteem, in need of validation, of power, of control.
The whole idea is insane. They have no ownership/equity in the property; who the HELL are they to issue orders, control your use of your own property? Government is bad enough; but with government, there's a path to redress.
Not so much a non-government body just placed in charge, and filled with idlers with too much time and low self-esteem, in need of validation, of power, of control.
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I believe the authority of the HOA is a contractual agreement with the buyer when each sale is made. The first buyer agrees to the HOA and its rules, and also agrees to require the next buyer to agree when selling.
It seems to me that if the seller does NOT require the next buyer to agree to the HOA, the next buyer has no obligation. The HOA could go after the seller for breach of contract, but that is between those two, not the new owner.
It seems to me that if the seller does NOT require the next buyer to agree to the HOA, the next buyer has no obligation. The HOA could go after the seller for breach of contract, but that is between those two, not the new owner.
I believe they are done through Deed Restrictions and then contract law. But I hate lawyers so what do I know.
homeowners' associations (HOAs)
Homeowners’ associations (HOAs) are the governing body of many common interest communities (CIC), such as subdivisions, who manage the common areas and interests of the community.
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Real Estate Investors Are Wiped Out in Bets Fueled by Wall Street Loans
Lynn Nathe was growing tired of the meager gains from her family’s retirement account. In late 2021, she invested $200,000 with a company that was making 30% returns by buying the hottest ticket in global real estate: US apartments.Now, she says, most of that money is gone.
For Nathe, a business school graduate who invested earnings from her husband’s dentistry practice in Yakima, Washington, the loss is a personal calamity. Yet the story of her ill-timed bet — and the collision of social-media fueled investing, Wall Street’s securitization machine and sharply higher interest rates — also shows how FOMO and easy money once again combined to burst an American real estate bubble.
Much of the worry over US commercial property has legitimately centered on the office market, where more than $38 billion in buildings were in distress as of March, compared with about $10 billion for apartments, according to MSCI. But multifamily buildings make up the biggest share of properties with potential distress — exceeding even offices — with more than $56 billion worth of real estate at risk of financial trouble, the firm’s data show.
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I have always found deed restrictions to be intresting....owned some land once that had a "no hog farming" restriction....owned a home once that "required shake shingle roofs" that one got ignored after a house burnt and burning shakes blew like Frisbees thru the neighborhood setting other roofs on fire
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‘We just can’t take this anymore’: Montana man, 68, begs for ‘moratorium on property taxes’ after his bill reaches $8K a year just ‘to live in our own house’
A senior from Montana has delivered a viral speech about the sorry state of property taxes in the Treasure State.“I’m on Social Security, I’m 68-years-old and working just to pay my taxes,” says Kurt, in a clip shared on TikTok by Ryan Busse, who is running to be the next governor of Montana.
Kurt claims that over the last couple of years, his annual property taxes have soared from $895 to almost $8,000 — an increase of around 790% — which he says is like paying almost “$700 a month rent to the state to live in our own house.” The state has an Elderly Homeowner/Renter Tax Credit, and the maximum credit is $1,150.
“There needs to be a moratorium on what we have to pay,” he says, adding that he’s had to continue working into what should be his retirement golden years to cover his mounting property costs. “I’m stubborn enough [that] I don’t want to dig into my bank account to pay them.”
Kurt is one of thousands of Montana homeowners suffering sticker shock over recent property tax hikes. He says: “We just can’t take this anymore. This was a great place and it still is, but the people that made it great can’t afford to live here anymore.”
Here’s what’s going on in the Treasure State.
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MSN
www.msn.com
We had/have a similar issue with high property taxes here in Texas. Thankfully, some property tax reform was passed the last year or so and it has helped, but for a while there, the taxes were getting a bit ridiculous.
DR Horton looking to dump a whole bunch of new properties because they can't sell them. They might bundle them to a Hedge Fund that will just rent them out. 54 neighborhoods with over 100 homes each. Looking at about $1.7 Billion in value. Look for Really cheap rent in those areas with a lot of new building.
Typical of the incompetent political hacks in "news" outlets like MSN, this "article" doesn't tell us where he lives.
It matters. Missoula, Gallatin and Flathead counties (Missoula, Bozeman and Whitefish) are the three hottest areas for real estate right now. Californication is burping out people like a college coed vomiting after her first keg party; and a lot of them are rushing right out here, demanding to buy property RIGHT! NOW! Paying far over asking to close the deal immediately.
I love Montana. Been here ten years, and I'm Montanazized. Resistol hat, long sideburns, pistols, membership in a shooting club. Not the life I lived in Erie County, New York.
MSN's soft suggestion, buttressed by their "experts," was that this guy sell and move to a "lower cost" area.
Where would he move that he could live the way he lives now?
Where would he find the relative safety, without hired guards, that he has in Montana?
That toddler killed in Cleveland...was actually killed in a West Side suburb. The suburb I grew up in. That was a grocery store I traded in, regularly. And when I lived out there, 16 years ago, there weren't animals and dindu nuffinz like that "woman" wandering our streets or that store.
There are now. I escaped it to Montana. And now, Californicators with more money than brains, are gonna out-bid me and this guy. We'll be forced back into the ghettos the Elites are making for Deplorables.
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Made me smile with this. Need to do some more writing:
FICTION (maybe)...Somewhere West of Laramie...
I thought I'd dig up some Christmas fiction I wrote about eight years ago. Unedited since that time...pre-Covid...enjoy, or not. Comments welcome. Also, banning and thread-pulling, acceptable. I'm pushing the limits, here, I get it.
You have a way with words
A life lived, my friend. Lived...if not well, at least busily. I write about what I know. And lordy, I know more than I should.Made me smile with this. Need to do some more writing:
FICTION (maybe)...Somewhere West of Laramie...
I thought I'd dig up some Christmas fiction I wrote about eight years ago. Unedited since that time...pre-Covid...enjoy, or not. Comments welcome. Also, banning and thread-pulling, acceptable. I'm pushing the limits, here, I get it.www.pmbug.com
You have a way with words
Interesting, though. In the shower, the other day, I was contemplating a sequel...there's places that can go. Captain Savahoe is older, reunited, for a task, with baby-momma...more drama, in a wet Midwestern winter...
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Just keep writing! I am a programmer, and I like some kinds (embedded), but it does not matter what I am programming, it always goes better as I do more. I can always go back and trim out code that is not so good. And then I keep on going.
As an author, you will write a lot that you later cut out. So what?! You are building a story. Keep building it.
As an author, you will write a lot that you later cut out. So what?! You are building a story. Keep building it.
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Over $1000/mo in NY/NJ
There is an easy solution to proper Property taxes. They should be applied to Corporations Only. With say at least 10 employees (if we are looking at individual LLC's for liability reasons).
Corporations don't pay taxes.
People who buy the products of those corporations, and who invest in those corporations...pay those taxes.
A corporation is an organization. Taxes are another expense that has to be made up on the other side. And if it cannot be made up, in that price-increases meet resistance; then that corporation closes up, along with XX,XXX jobs.
If you want to put a moat around existing corporations, preventing entry and new competition, make it expensive for a new business with no profit stream, to enter. With taxes on the physical plant.
People who buy the products of those corporations, and who invest in those corporations...pay those taxes.
A corporation is an organization. Taxes are another expense that has to be made up on the other side. And if it cannot be made up, in that price-increases meet resistance; then that corporation closes up, along with XX,XXX jobs.
If you want to put a moat around existing corporations, preventing entry and new competition, make it expensive for a new business with no profit stream, to enter. With taxes on the physical plant.
You don't need to be buying up a house as a corporation. The only real reason would be to profiting. So, it seems fine to levy a tax on that activity. Half this thread is worried about the corporations buying up all the property and forcing people to rent. Well, a property tax that only corporations pay would largely prevent that outcome as well.
Again: You punish people who buy from corporations (silly things like clothing, food and energy) and put a moat around those corporations, to prevent against new-entry competition.
And you are NOT going to get natural gas from Texas, in Iowa, without a corporation. You are not going to buy a car from a blacksmith-mechanic out of his garage. And the day of cottage-industry weaving is long gone...it was a day when all the average person could afford, was two sets of clothing. Sunday clothes, and clothes for every other day.
No person can own a large business directly, in this litigatious age. The last to try, was Henry Kaiser - and when he died, 1967, the IRS seized forty percent of the family's assets for Estate Taxes. Which is why there's no longer a Kaiser Jeep, Kaiser Broadcasting, Kaiser Shipbuilding, Kaiser Chemical, Kaiser Steel...only Kaiser Permanente, which became a non-profit corporation.
It cannot be done by artisans. If you outlaw the corporate structure (or tax it to where it is non-workable) the only alternative will be State operated plants. Like, Lada or Yugo or British Leyland. VAM in Mexico - look up the beautiful cars the Mexican government made, and wonder why they're now gone.
And if you think Kaiser Permanante healthcare is miserable, and it is...Jab payments...consider Ontario Health as a government-owned alternative.
And you are NOT going to get natural gas from Texas, in Iowa, without a corporation. You are not going to buy a car from a blacksmith-mechanic out of his garage. And the day of cottage-industry weaving is long gone...it was a day when all the average person could afford, was two sets of clothing. Sunday clothes, and clothes for every other day.
No person can own a large business directly, in this litigatious age. The last to try, was Henry Kaiser - and when he died, 1967, the IRS seized forty percent of the family's assets for Estate Taxes. Which is why there's no longer a Kaiser Jeep, Kaiser Broadcasting, Kaiser Shipbuilding, Kaiser Chemical, Kaiser Steel...only Kaiser Permanente, which became a non-profit corporation.
It cannot be done by artisans. If you outlaw the corporate structure (or tax it to where it is non-workable) the only alternative will be State operated plants. Like, Lada or Yugo or British Leyland. VAM in Mexico - look up the beautiful cars the Mexican government made, and wonder why they're now gone.
And if you think Kaiser Permanante healthcare is miserable, and it is...Jab payments...consider Ontario Health as a government-owned alternative.
I'm not outlawing anything. It still works and it works well for everyone. It still allows cities to raise money. It prevent corporations from taking over large portions of your area. And it still allows for corporations to do what they want and if the profits are still there with a tax on them then go for it.
These corporations that buy homes Don't sell anything. So they aren't adding any costs to any buyers. I suppose you could say the people that would be paying the tax are there but they would be investors, not customers. And very little should change for industries as they are already subject to property taxes.
These corporations that buy homes Don't sell anything. So they aren't adding any costs to any buyers. I suppose you could say the people that would be paying the tax are there but they would be investors, not customers. And very little should change for industries as they are already subject to property taxes.
Yes, I get it - REITs.
A better solution would be to deny them a corporate structure - they're an investment pool, not a corporation; so they don't qualify for the protections and tax statuses of incorporating.
Tax them on their income, as communal owners - by the percentages each investor owns.
That doesn't raise any money for roads. And roads are always the only thing people really care about and makes them willing to pay a tax. Really, it could be as simple as making the Homestead exemption an actual real exemption. People would be exempt from paying property tax, to you know, actually own property.
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Simple to do. (Maybe)
Second-order effects, though, are complicated.
And there is no Free Money, as I tried to point out. Tax a corporation, and you're just taxing the shareholders and customers.
And it may take you where you don't think it will. Suddenly, apartment structures will be taxed heavily - since there's no little old ladies owning 800-unit high-rise apartments - and rents go up.
And then you get all kinds of case-by-case minutia by government, deciding whether to tax and at what rate, by political flunkies. It may come down to, the appellant's politics, or what his lifestyle is.
I agree property taxes are typically too heavy, and especially in this bubble market. But using the nursery-rhyme - "Don't tax him, don't tax me; tax that man behind the tree!" as a qualifier, opens a rat's nest of government BS.
Second-order effects, though, are complicated.
And there is no Free Money, as I tried to point out. Tax a corporation, and you're just taxing the shareholders and customers.
And it may take you where you don't think it will. Suddenly, apartment structures will be taxed heavily - since there's no little old ladies owning 800-unit high-rise apartments - and rents go up.
And then you get all kinds of case-by-case minutia by government, deciding whether to tax and at what rate, by political flunkies. It may come down to, the appellant's politics, or what his lifestyle is.
I agree property taxes are typically too heavy, and especially in this bubble market. But using the nursery-rhyme - "Don't tax him, don't tax me; tax that man behind the tree!" as a qualifier, opens a rat's nest of government BS.
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Not actual real estate news, just an article I enjoyed. Been reading about stuff like this for years. Have thought it would be a way for a young couple (or anyone) to maybe get a new start depending upon what kind of offer was being made.
The program — called Work Here, Live Here — is the county's effort to boost the local economy and grow the population, which is just under 40,000 people, per the 2022 Census. A two-and-a-half hour drive from Little Rock, the county borders Tennessee and includes cities like Blytheville and Osceola.
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An Arkansas county doesn't want families to move. It's offering them up to $50,000 to build or renovate their homes.
- Mississippi County offers up to $50,000 for new home builds or renovations to attract residents.
- The Work Here, Live Here program aims to boost the local economy and grow the population.
- The incentive is available to employees of local companies and has drawn 80 new homeowners.
The program — called Work Here, Live Here — is the county's effort to boost the local economy and grow the population, which is just under 40,000 people, per the 2022 Census. A two-and-a-half hour drive from Little Rock, the county borders Tennessee and includes cities like Blytheville and Osceola.
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In NYC, brokers are fighting for 10-15%, not 6%
New York is one of only two cities where landlords can hire brokers and require renters to pay them. This may be changing — but not if the industry has its way.
www.realestatenews.com
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People Are SICK OF HOUSING BEING SO EXPENSIVE!
Jun 21, 2024 #realestate #housingmarket #homepricesHome buyers are protesting this housing market, and it is showing up in the data. Home sales are now down 2.9% from 1 year ago meanwhile inventory is up 8.8% from 1 year ago. Prices still continue to climb on a median basis however, this cocktail of lower home sales combined with higher inventory means it will only be a matter of time before homes get a little bit cheaper.
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Articles Mentioned in the Video
- https://apple.news/AX1wanxjgRoq-NFcPi...
- https://apple.news/AdoncmxJATXmwDAdWp...
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Interesting article from DM. Has lots of pics so you may not want to open on phone.
www.dailymail.co.uk
Coastal enclave becomes one of the hottest property markets in America
A small coastal community in California has become one of the hottest property markers in the US. Yet while many buyers continue to flock there, the beach town is also battling a major issue.
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As homeowner's insurance prices climb, more Americans ask: Is it worth it?
It was 2019 when Anjali Tierra decided that homeowners insurance wasn't worth the price.The retired high school teacher, 58, took out a policy in late 2018 after purchasing a three-bedroom home nestled in the Tehachapi Mountains of southern California. She considered the insurance affordable at less than $100 a month, and the coverage brought her peace of mind while living in a “very high” fire hazard severity zone.
But the following year, when Tierra’s insurance provider sent her a renewal notice, she learned her monthly payment had jumped to $350 – more than what she was comfortable paying with the $3,500 she gets each month from her pension. She dropped the insurance policy, assuming she would find affordable coverage somewhere else.
Her search turned up empty. She's been without homeowners insurance ever since.
"Every year, usually in the springtime, I will start to do the research again," she said. "I will just randomly choose an insurance company to see if they'll cover me. And since 2019, I've been rejected by every single insurance company, large and small."
Tierra is among a growing number of American homeowners who are “going bare,” or living without homeowners insurance. A recent study from the Insurance Information Institute found 12% of Americans no longer have home insurance, up from 5% in 2019.
It’s the highest level of uninsured homeowners the industry-funded research group has seen, and follows a dramatic spike in the cost of coverage.
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The State Wants to Nationalize Second Mortgages. What Possibly Can Go Wrong?
06/21/2024Recently, Freddie Mac, a government-sponsored enterprise, sought approval from its oversight agency, the Federal Housing Finance Agency (FHFA), to purchase and guarantee second mortgages in the United States.
While the business case for this proposal is deficient (for an excellent perspective on that, see the article by R. Christopher Whalen), I will discuss the economic and political premises behind this move and its possible consequences.
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The State Wants to Nationalize Second Mortgages. What Possibly Can Go Wrong? | Mises Institute
As if the government has not done enough destruction in the housing market, there now is a scheme to have the government nationalize second mortgages. Given the
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THIS NEW CONTRACT Will Change Real Estate FOREVER!
Jun 24, 2024 #realestate #housingmarket #homepricesStarting August 17, 2024 you will no longer able to just call any random real estate agent and go look at properties on a whim. No, no, no, you will need to sign a buyers agent agent agreement, this will be mandatory after this date if you want to look at properties. And even though it does sound like a hassle, there actually could be some benefits to both the buyers and real estate agents moving forward. It's definitely gonna have an impact on the housing market.
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If I call up a Listing Agent to show me the house they have listed I'm not signing crap with them. it's their job to show off the property they have under contract. Now, if I'm really serious and want my own agent then that's another story and I'll have to go find a good buyers agent.