I made a brief comment towards the end of this video about strategic defaults.
I don’t know how many people are strategic-defaulting. But when the servicers insist that you start missing payments to get their attention, then work you over during the loan-mod/short-sale process while getting you addicted to the free-rent program for a year or two, it wouldn’t surprise me that a large segment of the foreclosures are voluntary:
“I wouldn’t mind seeing the whole short sale thing come to an end.”
I could not agree with you more Jim. Excellent commentary as usual.
Any multiple swallow nests in the eves? New litmus test of low inhabitance…deferred maintenance.
Good seeing you yesterday out on the hunt!
doughboy
670?
show me?
Jim,
I’ve been watching your videos for a while now and I just love them! I appreciate your honesty and insight….I’ve learned so much.
I wish I could work in the real estate industry in the future….I’m still in college and will be graduating in December and be going to law school next fall.
But when I can buy a home, I’m going to hire you and if you’ve retired….I’m dragging you out of retirement because I feel you really are one of a kind.
I briefly met you at your open house in Leucadia and I apologize I wasn’t able to help you out more….my uncle died around the same time and I was not in the area.
If anyone asks me who I should buy a home from, I’m telling them about you!
My real dream is to be able to buy a house with you as my realtor!
But overall, I’ve also learned the importance of being financially responsible when it comes to buying a home (and this applies to everything else too). You’ve really ingrained in my mind that one needs to be financially sound when buying a home. I’ve also learned not to let your dream home get in the way of a home that one really should be buying given one’s personal financial situation.
While I had known this, your videos give me and your readers real examples of what happens when people are irresponsible with their finances. It’s also good for people like me to really understand this because, as maybe you can attest to, young 21 year old males (like myself) don’t make rational decisions all the time….haha. It’s good that I watch your videos to stress the importance of making rational decision, not only for big purchases…but for everyday expenses as well.
Thanks for the lessons and it’s great to not only learn about real estate and what’s happening currently….but also general advice on how to really buy real estate.
I realize that I’m most likely your youngest follower, but you really have had an impact on my way of thinking and I want to thank you for that.
So hopefully, when the time comes, we will go house hunting together and get a home in north county coastal.
I eagerly await that day and thanks for all that you do.
College Joe
College Joe, you give us older people hope for the future!
You go!
@joe, I hope you are not saddled with mountains of Student Loans. Hopefully by the time you come out of Law School the economy should be better than it is now.
Best of luck.
I have no student loans or any debt for that matter. I am fortunate to come a well-off family so that’s not an issue.
But just because your family has money doesn’t mean your fiscally responsible. Some of my wealthy friends are some of the most irresponsible people with money and spend the $2,000-$3,000 their parents give them per month pretty quickly.
And thanks for the support guys….I’m addicted to this site…haha.
God my grammar is not good in the morning. “you’re fiscally responsible.” My English teacher in HS would not approve.
In other news, there are a few 2Mil+ homes on Hymettus that I’ve been checking out. As for that lot that was split (Jim had it in a video a long time ago) the house at the bottom to the left is the personal residence. The one to the right is a spec home and the price is optimistic, to say the least. I’m not sure what is happening with the lot at the top….the one with the big view.
But the personal residence has a great view from the upper level and the houses in the back won’t be an issue because they are putting a big hedge in. I know the person who is doing the landscaping and it’s going to look great.