***Official Real Estate Thread***

grapedrink

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May 21, 2011
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A Beach
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hammies

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Apr 8, 2006
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What ever happened to those huge housing tracts in places like Phoenix that sat empty for years after the last housing crisis?
 

Subway

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What ever happened to those huge housing tracts in places like Phoenix that sat empty for years after the last housing crisis?
Happened all over florida too, but the subsequent boom ensured that most of those big ghost developments have now been completed
 
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One-Off

Tom Curren status
Jul 28, 2005
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33.8N - 118.4W
Still have my eye on a foreclosed property with an incalcitrant owner still living there. It's been lingering on the market for months and the price has inched down to where we'd have a $400,000 remodel budget. That's enough to take it down to studs and rebuild. How much would it cost to hire lawyer?

I'd almost do it but it is not possible to inspect the property.

Anybody know the reliablilty or methodology of this site? We're looking in a WUI zone (wild urban interface).

 
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ghost_of_lewis_samuels

Phil Edwards status
Oct 27, 2019
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Still have my eye on a foreclosed property with an incalcitrant owner still living there. It's been lingering on the market for months and the price has inched down to where we'd have a $400,000 remodel budget. That's enough to take it down to studs and rebuild. How much would it cost to hire lawyer?

I'd almost do it but it is not possible to inspect the property.

Anybody know the reliablilty or methodology of this site? We're looking in a WUI zone (wild urban interface).

Are you able to just buy a foreclosed property, doesn't the bank usually auction or sell a bunch in a bundle?
 

grapedrink

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May 21, 2011
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Are you able to just buy a foreclosed property, doesn't the bank usually auction or sell a bunch in a bundle?
You can usually buy them individually, unless the bank is specifically auctioning off a package deal. Seems that it's in the interest of the bank to sell them individually and make more money overall, especially in times of low inventory where they don't have to incentivize buying bulk.
 

PRCD

Tom Curren status
Feb 25, 2020
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Still have my eye on a foreclosed property with an incalcitrant owner still living there. It's been lingering on the market for months and the price has inched down to where we'd have a $400,000 remodel budget. That's enough to take it down to studs and rebuild. How much would it cost to hire lawyer?

I'd almost do it but it is not possible to inspect the property.

Anybody know the reliablilty or methodology of this site? We're looking in a WUI zone (wild urban interface).

That modeling is probably a worthless a la carte service like American Home Shield. Determining your fire risk is a no brainer. For flood risk, look at old maps and see if you’re in a flood plain. Aging of stick construction housing is probably not a big problem out here.
 

Subway

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you may be an not even know it - if anyone here is a Calpers contributor then they are most likely involved in the action.
there's a number of funds invested in the fund as well.
Oh like just buy some reit shares or something with exposure to rental residential
 

slipped_disc

Billy Hamilton status
Jun 27, 2019
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Still have my eye on a foreclosed property with an incalcitrant owner still living there. It's been lingering on the market for months and the price has inched down to where we'd have a $400,000 remodel budget. That's enough to take it down to studs and rebuild. How much would it cost to hire lawyer?

I'd almost do it but it is not possible to inspect the property.

Anybody know the reliablilty or methodology of this site? We're looking in a WUI zone (wild urban interface).

Riskfactor's fire ratings are pretty useless. For a better assessment, I'd look at the newest Calfire maps in your area (they've been updated recently). Not a bad idea to call an insurer to make sure it's covered too. There are increasing number of properties that insurers won't cover, which means you'll have to go on the FAIR plan. Pricey.

For floods, riskfactor seems okay in my view. It's more conservative than FEMA maps... but that's a good thing IMO. Those are known to be outdated.
 
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ghost_of_lewis_samuels

Phil Edwards status
Oct 27, 2019
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Oh like just buy some reit shares or something with exposure to rental residential
REIT's are one way to do it.

What I was referring to was institutional buying. In the specific case I'm talking about a large 'group' who has raised money from private investors, pension funds, etc. to then deploy in the real estate market. So if you happen to contribute to one of these pension funds then maybe you'd be exposed. I don't believe that this fun is open to individual investors.