Real Estate and foreclosure thread

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Her Mortgage Payment Went From $2500 to $7500 A MONTH!​

Dec 7, 2024
Do not let this mistake happen to you when buying a house.


8:25
 

420,000 Homeowners to lose their Insurance!​

Dec 11, 2024
Many people are losing their home insurance in the state of Florida. Here is what is going on in Florida Home insurance crisis. Citizens insurance is a mess!


15:33
 
Someone_else said:
When I was a kid, the mall was pretty fun. It was maybe a half hour drive (?) and we went maybe once or twice a year. The bookstore was great, the toy store was fun (but certainly NOT Toys'R'Us), and ... Damn if I can remember anything else good. The food court was okay, it had variety. I think once or twice I got to ice skate in the rink.

When I was no longer a kid, I don't think I went anywhere but the book stores. The shops seemed to decay from uninteresting clothes and stupid knick-knacks to even stupider versions. The names were stupid. "Chess" and "Guess" were two that deserve a holy water burial. My name for these types was "Things Best Forgotten". That should have been on their sign.

I will admit that Sears was a solid draw. Their tools and sometimes other products often took me to a mall. Park by their entrance, walk in to Sears, buy, and then walk straight out to the parking lot.

A few times as an adult, I went to a mall specifically to go to the bookstore to buy software. Again, shortest path in and out.

As the video suggests, malls do have an incredible advantage in being a comfortable environment. But the claimed price of $200/ft is insane. And the mix of businesses "serving" the tenants does not make sense. Really, how valuable is it having a hair salon in walking distance? A store selling daily staples would be more sensible. Maybe they should examine the systems of residence and commerce in European cities? Or at least NYC?
Click to expand...
This kinda hits home for me. The last week, I took off reading the nooze, in favor of some escapism...going down the Internet rabbit hole, I found a couple of Urban Explorers' channels. Sal and Ace's Adventures. Both of them are Dead-Mall aficionados - and Ace is from Western New York, part of my onetime home turf.

The Lake Erie coastline cities are LOUSY with failed malls. Randall Park, Rolling Acres, Chapel Hill, Euclid Square...Warren (PA) Mall, Thruway Mall, Erieview Galleria, Eastern Hills...it's a long list, and I knew many of those places.

Watched them die, some of them. It was obvious how it happened. Rolling Acres, which I lived five miles from, was the most extreme example.

It was built on rural land just outside Akron. Lots of money out that way at the time. The mall came, and now, lots of low-wage jobs opened up. Akron is not a very big city - it was a ten-minute ride from the 'hood to the mall.

Apartments went up. The neighborhood, which hadn't existed, immediately took on a flavor. A lower-socio-economic flavor.

Rolling Acres was to attract the high-end shoppers, but 15 years after it opened, it was a playpen for idle teenagers. Many of them moving in groups; and then in gangs.

Middle-class women got nervous about taking their kids to such a retail venue. They had choices - two other malls in Akron and about eight in Cleveland. Sales fell.

Then a few bodies popped up in far corners of the parking area. Anchor stores declined to renew their leases. The storefronts started appearing vacant.

The mall was sold, to asset-strippers who quit on maintenance and payment of utility bills.

The last anchor, Sears (2009) who owned their own building attached to the mall, converted to a Sears Outlet store and put up a wall to prevent egress into the mall.

The power company cut the power and the city locked it up.

It took six years to find a buyer, during which time scrappers, gangs and vandals ran riot in the mall.

It's now an Amazon Fulfillment Centre. No public traffic - which is appropriate for what the neighborhood has become, gritty ghetto.

Point of all this is: You cannot have a Mall-style retail infrastructure, without a modern Western middle-class social structure. Take away social diktats about public deportment; take away Rule of Law; take away civility, and the mall dies like a girded tree.

It is NOT WORKABLE. Basically, it's not workable in the social structure we're in, right now. We can't even have a mail-order Drop-Shipment retail structure, for all the Porch Pirates who'll snatch packages from your doorstep.
 
^^^^^^

Florida Condos are Sinking!​

Dec 18, 2024

The Florida Condo Crisis is getting worse! It is being discovers that some Florida Condos are sinking! Here are my thoughts!


10:13
 
Could be worth your time if you own property and have assets you don't want anyone to know about.

searcher

Post in thread 'How to Disappear'

How to Legally Disappear: Use LLCs and Land Trusts to Keep Your Name Off Public Records​

Dec 25, 2024 #AssetProtection #Assets #TobyMathis

Learn how to make your assets disappear legally!
Would you like to learn more about this topic and talk to someone? Schedule a free consultation here: https://aba.link/6f1

In this video, we delve into strategies like using LLCs and land trusts to remove your name from public records, ensuring your personal information stays private. Learn why privacy is crucial, from protecting your home and business to avoiding frivolous...
 

“I Can’t AFFORD TO SELL OR KEEP MY HOUSE!”​

Dec 23, 2024

Everyone today wants to become a homeowner. But what about people who already are homeowners and had plans to sell their home and downsize in retirement, only to find out they can't afford to keep or sell their house due to the current economy and housing market conditions. What do you do then? Also, should younger people still strive to become homeowners looking at how expensive it is to maintain a home over time especially at retirement age? All questions we will address in this video.


22:24

Articles Mentioned in the Video
https://www.boston25news.com/news/loc...
https://www.floridarealtors.org/news-...
https://apple.news/AUWNptxYbTMqSlwQ-F...
https://apple.news/APWiDs4tfQf-QCrRXU...
 
Related.

Meet Robert Faulds, the 92-year-old Navy vet whose internet sleuthing could save the city $11.4 million​

Robert Faulds is a Korean War Navy veteran, a Kensington native, and a retired insurance professional. At 92 years old, he has now become an amateur internet sleuth, too. With no staff and only a few simple tools, Faulds tracks down Philadelphians eligible for a city property tax relief program or who have unclaimed assets sitting unaccounted for with the state Treasury Department.

“Right now, I’m a little frustrated,” griped Faulds on an early December Monday. “I don’t quite understand how to use my new printer.”

He needs his printer to generate the letters he’s sent to roughly 1,500 Philadelphia families alerting them to unclaimed funds tied to their name that he discovered online.

More:

https://www.msn.com/en-us/money/com...S&cvid=56d399aa0959436085306b918828630a&ei=24
 

Unexpected Expenses HITTING ALL HOMEOWNERS! (NOT JUST CONDOS)​

Jan 1, 2025

Now that we are reaching the condo cliff and many owners are getting slapped with major assessments and large HOA fee increases, many people believe this will strengthen the single family home market. But the single family market is riddled with it's own set of problems as well, that are getting worse right along side the condo problems. The reality is, if you want to be a homeowner today of any kind, you need to be well prepared financially to make it viable.


23:15

Articles Mentioned in the Video
- https://apple.news/AmJdzoR53R9KbHELhH...
- https://apple.news/AywffSaowTIqgNrAMN...
- https://apple.news/AN_7MuxBwTAqHMqFBc...
 
November:
pmbug said:
Click to expand...

December:
The delinquency rate of office mortgages that have been securitized into commercial mortgage-backed securities (CMBS) spiked to 11.0% in December, a new all-time high, surpassing even the debt-meltdown during the Financial Crisis, when office CMBS delinquency rates peaked at 10.7%, according to data by Trepp today, which tracks and analyzes CMBS.

Over the past 24 months, the delinquency rate for office CMBS has exploded by 9.4 percentage points, from 1.6% to 11.0%, from everything-is-just-fine to disaster.

The office sector of commercial real estate is in a depression, and office debt just keeps getting worse: an additional $2 billion in CMBS office debt became newly delinquent in December.
...
Click to expand...

More:
 
Yet bank stocks are still relatively strong. It's crazy how much crap they are able to hide. Just Lie, Cheat, and Steal
 
Gotta admit.............I was a fan. Great show!

The ‘Breaking Bad’ house is for sale—and the future owner could earn $292,000 a year by renting it out to fans on Airbnb​

  • The famous Walter White house is up on the market at $4 million and could prove to be a moneymaker as an experiential rental for the next owner.
Breaking Bad lovers can now snatch up Walter White’s house—and for one lucky fan, it could prove to be a lucrative side hustle.

The famous brown-roofed ranch house in Albuquerque recently went up for sale at $4 million. The listing’s website describes this as a “unique chance to own a piece of TV history.”

While many TV enthusiasts associate the property with Breaking Bad icon Walter White, its true owner, Joanna Quintana, decided to sell the home after it had been in her family for over five decades. Over the years, she had enough with fans constantly showing up to her home and being disruptive. Now she wants the buyer to make it into a short-term rental for Breaking Bad lovers to cash in on the experience.

More:

https://www.msn.com/en-us/travel/ne...S&cvid=23197549515841f5a356eab556c7a468&ei=19
 

“I Was LAID OFF 8 MONTHS AGO AND STILL CAN’T FIND A JOB!”​

Jan 6, 2025
We have seen a tremendous amount of layoffs over the past year and at the same time, companies are slowing way down on new hires due to the sluggish economy. This is leaving many people unemployed for a lot longer than originally anticipated and forcing many to rely on savings and credit cards to get by until they can find a job.


19:24

Articles Mentioned in the Video

- https://apple.news/AeCFOAoP2Q6mLkYkOs...
- https://apple.news/AsoNgRPHeQ9mtDU-xe...
- https://apple.news/Adx29TEqFQY2RzFEa-...
- https://apple.news/ATC5R70gRQsKo2WPg7...
 
^^^^^

That's why you need be liquid for a year's worth of expenses, at any given time.

I have been through that. After moving for a new job, and selling my home (and on the verge of buying another home in the new area) I got...laid off. Last on, first off...the GFC.

It was terrifying - for the first week. After dread, and drinking, and putting thoughts down on paper...basically, I turned it into a six-month holiday. Have motorcycle, will travel...and touring Colorado and Utah was a lot better than checking the mail each day with panic.

Plan. And learn MINIMALISM. Avoid what you cannot pay cash for, house excepted (although no mortgage would be a good thing to shoot for, long-term). And when the bad stuff happens...it's better to be using the time eating hamburgers around a fire pit in Yellowstone, than watching television at home, worrying if the repo man is gonna get the SUV today.
 

Why You PROBABLY DON’T HAVE ENOUGH MONEY TO BUY A HOUSE..​

Jan 8, 2025

A lot of people believe if they can just come up with the downpayment for a house, then they are all set! They'll figure out the rest once they move in. But this couldn't be further from the truth. Owning and maintaining a home has become so expensive in recent years that the average homeowner is spending roughly $3,200/mo just on the house payment plus additional expenses to keep the household running. And these additional expense are not optional. Everyone needs insurance, everyone needs to pay property tax, everyone needs to pay the water and electric bill, repairs, the list goes on!


22:55
 

Fake Deed Filer Ordered to Pay Costs of Fixing Title​

Jan 10, 2025

And prohibited from filing future pleadings without advance permission.


13:43
 
Posts related to the California fire moved to a dedicated thread:

searcher

California Fires

State Farm canceled California homeowners’ insurance policies months before wildfires​

State Farm canceled hundreds of homeowners’ insurance policies for residents in many of the same areas now in the path of the Southern California wildfires.

The insurance company’s reasoning for canceling policies for people living in Pacific Palisades in Los Angeles County, California, was due to elevated concerns associated with an increase in the frequency and magnitude of wildfires in the state, according to Newsweek.

The decision was announced in March...
 
Looks like the fires have ignited a bidding war.

searcher

Post in thread 'California Fires'

EVERYONE in LA IS TRYING TO BUY THE SAME HOUSE!​

Jan 11, 2025

LA is literally on fire and apparently so is it's housing market now. That's right, people are already so desperate to get into a new home, there are now bidding wars on almost every rental unit in LA and many of the homes for sale. It is utter chaos and it makes me wonder if the people bidding up these properties are really thinking this through...


23:18
  • Thanks
 
searcher said:
Looks like the fires have ignited a bidding war.
Click to expand...
As usual, my instincts are 108-degrees off.

I'd have thought this would have flattened the real estate market there. The place to be would be in getting Y'All-Haul trucks in there for the mass exodus.

This is showing the opposite. And I can believe it - his reasoning, the opposite of my own, does make sense. They're committed to their Leftist Utopia, even as it's dying of its own anti-intellectual toxic vetch.
 
It's mostly what Bug stated, these people come from a different mindset. They've always had money, that's not a big deal to them. They have money but certainly not necessarily brains.

But its also just a linear mindset. They think things will always be the way they were. Because of the ridiculous rules on building and their property taxes (ie if you never sell they never go up much) they fostered a situation where homes are always in short supply. So, in this world where they have no idea big things have changed they still have money and now there are even fewer "acceptable" homes. It does make since that these people suddenly want a place to live and will just go bid up what is immediately available.

That's MUCH easier than the alternative, which is Change. Change is much scarier than simply spending too much money. They are pros at spending too much money.
 

What Happens To Your Property Taxes and Mortgage When Your House Burns Down?​

Jan 15, 2025

With so many homes lost to the fires in LA but also other natural disasters that happen across the country. What actually happens to your property taxes and your mortgage when your house burns down or maybe it is swept away by a hurricane. What then?


21:06
 
Related.

J Rubino talks about homeowners' insurance and how it could possibly trigger a downturn in the economy. Nothing to see, can listen in one tab. play around the forum in a different tab. 34 mins long.

Here's How The Systemic Financial Crisis Goes Down | John Rubino​

John Rubino (https://rubino.substack.com/) highlights the growing risks within the homeowners insurance sector, suggesting it could trigger a broader financial collapse. Insurance companies are struggling to stay profitable as natural disasters become more frequent and costly, while civil unrest adds further strain on property coverage. Rubino warns that the economy is fragile, over-leveraged, and could face a more severe recession than the last one. He argues that inflation is a significant policy error and the reverse wealth effect could slow economic growth. Insurance, he concludes, is crucial for a stable economy, but current trends are jeopardizing its viability.

Here's How The Systemic Financial Crisis Goes Down | John Rubino​

 

“I’m $480k in Debt WITH NO SAVINGS”​

Jan 19, 2025

Some people just need to learn the hard way when it comes to finances and today's situation is no exception. This couple ended up in $480,000 in debt with nothing saved for retirement or savings in general. This is basically worst case scenario, except for the fact that her parents are rich and will likely bail them out. I guess that's how you end up making poor financial decisions to begin with knowing that there's a safety net to bail you out.


23:35
 
Agree with Jack 100%.

5 Reasons why you should pay your home mortgage off!​

Jan 30, 2025

Should you pay off your home mortgage? Here is my opinion.


29:23
 

HUNDREDS OF THOUSANDS Eviction Records BEING ERASED!​

Feb 2, 2025

The state of Oregon recently decided it would be a good idea to start erasing eviction records of people who have been evicted. By the end of 2025 over 100,000 eviction records will be erased. This means moving forward if you are a landlord in Oregon, you will have NO WAY of knowing if the person you are renting to pays their bills on time or has been previously evicted.


24:10
 
I'm not comfortable creating MOAR dependence on credit agencies.

Which is what this will do. Cripes, not only must we live and die at someone else's pleasure, but the persons with the power become fewer and fewer...one wrong step, or, soon, one mis-entered algo code, and we cannot get a home, buy meat, pay bills and must starve.

I not only think a crash will happen, I'm hoping and praying it does. This computer scheisse needs to be ERASED.
 
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