Can?t buy in Irvine? Take Advantage of the Pain !
- Thread starter Savinglots$$$Renting_IHB
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NEW -> Contingent Buyer Assistance Program
ipoplaya_IHB
New member
[quote author="irvinehomeowner" date=1208777571]too many jerks in this forum. 
</blockquote>
I'd have to agree irvine, especially since you joined up, the jerk quotient went through the roof...
Eva, "non-sentient", you had me rolling! Excellently done.
</blockquote>I'd have to agree irvine, especially since you joined up, the jerk quotient went through the roof...
Eva, "non-sentient", you had me rolling! Excellently done.
IrvineRenter_IHB
New member
[quote author="alan" date=1208779309]Bankruptcy lawyers do well in downturns, you could go to law school.</blockquote>
A friend of mine is a divorce attorney. I suspect he will do well over the next several years as well.
A friend of mine is a divorce attorney. I suspect he will do well over the next several years as well.
lawyerliz_IHB
New member
Umm, posters object to so many caps because realtors use them in their
listings too much. Along with exclamation points.
Also, they really do make the posts harder to read. I am a compulsive
post reader, and I stopped reading yours because it was too painful. We
would LIKE (!) to read your posts, so don't make it hard, make it easy.
listings too much. Along with exclamation points.
Also, they really do make the posts harder to read. I am a compulsive
post reader, and I stopped reading yours because it was too painful. We
would LIKE (!) to read your posts, so don't make it hard, make it easy.
acpme_IHB
New member
savinglots --
i wouldn't recommend jumping into options if you're even unfamiliar with trading basic stocks. plus you've got to get comfortable with the ups and downs of just the equities mkt (which there are a lot of these days!) before even thinking of making a big short bet with options.
at best for the time being you should think of simply hedging your existing positions. i assume you may have a 401k or other retirement accts which are probably in some basic index funds, or funds which are likely highly correlated to the overall mkt. you might want place a small side bet in SH (short S&P;500) or SDS (2x short S&P;500).
http://www.proshares.com/funds?products=98616&fundType;=
you might not think of that as "making money from the downturn", but keep in mind that if you think losses are unavoidable in the near-term, minimizing that loss is just as good as anything else you can do.
or even more simply, just move into cash or cds. a 3% yield is still better than nothing. anything beyond that -- quite frankly, if you're asking -- you probably shouldn't be doing if you're pretty new to investing.
i wouldn't recommend jumping into options if you're even unfamiliar with trading basic stocks. plus you've got to get comfortable with the ups and downs of just the equities mkt (which there are a lot of these days!) before even thinking of making a big short bet with options.
at best for the time being you should think of simply hedging your existing positions. i assume you may have a 401k or other retirement accts which are probably in some basic index funds, or funds which are likely highly correlated to the overall mkt. you might want place a small side bet in SH (short S&P;500) or SDS (2x short S&P;500).
http://www.proshares.com/funds?products=98616&fundType;=
you might not think of that as "making money from the downturn", but keep in mind that if you think losses are unavoidable in the near-term, minimizing that loss is just as good as anything else you can do.
or even more simply, just move into cash or cds. a 3% yield is still better than nothing. anything beyond that -- quite frankly, if you're asking -- you probably shouldn't be doing if you're pretty new to investing.
EvaLSeraphim_IHB
New member
[quote author="lawyerliz" date=1208812308]Umm, posters object to so many caps because realtors use them in their
listings too much. Along with exclamation points.</blockquote>
Yeah, I would have thought that anyone who spent more than five minutes on the front page (the blog) would have learned that exclamation points and caps were greatly frowned upon here (or, really, mocked). To me, Nude's comment was constructive criticism. He asked the writer to change his style, and given that this wasn't Savings' first post to draw comments about writing style, the point was well taken (and less critical than the first time he/she posted).
Whatever. If folks are going to get their knickers in a twist over Nude's relatively mild comment, name, or avatar, then this place is going to be really unpleasant for them. Nude, Skek, Graph . . . gosh, each of them have rearranged entire anatomies with their comments. Generally, that's only happened when somebody was incredibly rude as well as being wrong. If one can disagree without being disagreeable, then the exchange of ideas is relatively pleasant.
listings too much. Along with exclamation points.</blockquote>
Yeah, I would have thought that anyone who spent more than five minutes on the front page (the blog) would have learned that exclamation points and caps were greatly frowned upon here (or, really, mocked). To me, Nude's comment was constructive criticism. He asked the writer to change his style, and given that this wasn't Savings' first post to draw comments about writing style, the point was well taken (and less critical than the first time he/she posted).
Whatever. If folks are going to get their knickers in a twist over Nude's relatively mild comment, name, or avatar, then this place is going to be really unpleasant for them. Nude, Skek, Graph . . . gosh, each of them have rearranged entire anatomies with their comments. Generally, that's only happened when somebody was incredibly rude as well as being wrong. If one can disagree without being disagreeable, then the exchange of ideas is relatively pleasant.
alan_IHB
New member
[quote author="IrvineRenter" date=1208809306][quote author="alan" date=1208779309]Bankruptcy lawyers do well in downturns, you could go to law school.</blockquote>
A friend of mine is a divorce attorney. I suspect he will do well over the next several years as well.</blockquote>
I used to be able to tell when my patients were going to get divorced, if the wife got a boob job, 6 months later they were in divorce court. Now with HELOC evaporation I suppose this wouldn't be the case.
A friend of mine is a divorce attorney. I suspect he will do well over the next several years as well.</blockquote>
I used to be able to tell when my patients were going to get divorced, if the wife got a boob job, 6 months later they were in divorce court. Now with HELOC evaporation I suppose this wouldn't be the case.
graphrix_IHB
New member
[quote author="ipoplaya" date=1208781950][quote author="irvinehomeowner" date=1208777571]too many jerks in this forum. </blockquote>
I'd have to agree irvine, especially since you joined up, the jerk quotient went through the roof...</blockquote>
Is it really the "jerk" quotient? Or, is it the increase in Kool-Aid induced, unresearched (don't make me post the search button picture), ignorantly arrogant, ridiculous, and whiny comments that we have been reading since 2005, that cause the "jerk" quotient to increase?
</blockquote>I'd have to agree irvine, especially since you joined up, the jerk quotient went through the roof...</blockquote>
Is it really the "jerk" quotient? Or, is it the increase in Kool-Aid induced, unresearched (don't make me post the search button picture), ignorantly arrogant, ridiculous, and whiny comments that we have been reading since 2005, that cause the "jerk" quotient to increase?
irvinehomeowner_IHB
New member
[quote author="acpme" date=1208835227]well the jerk store called... and they said they're running out of you!
btw, can someone here explain mello roos?</blockquote>
what is property tax?
btw, can someone here explain mello roos?</blockquote>
what is property tax?
25inIrvine_IHB
New member
http://en.wikipedia.org/wiki/Mello_Roos
I think I looked that up on wikipedia about a year ago and nothing was there.
<blockquote>Regardless of Mello-Roos, HOA fees for many of these new Orange County communities rise tremendously by the 2nd or 3rd year-- it is not unusual to see a rise of 10-20% a year, though the increase usually plateaus after 5 years. As builders are competing against each other in an extremely tight market it is not uncommon to see them throwing incentives such as giving away free plasma TVs, free counter-top upgrades, free hardwood flooring, waiving the HOA for the first few months, or splitting the HOA fees as "master community vs. building" or "North vs South parks" and such, all in order to diffuse the buyers from realizing the true costs of ownership. </blockquote>
I like the tone in it
I think I looked that up on wikipedia about a year ago and nothing was there.
<blockquote>Regardless of Mello-Roos, HOA fees for many of these new Orange County communities rise tremendously by the 2nd or 3rd year-- it is not unusual to see a rise of 10-20% a year, though the increase usually plateaus after 5 years. As builders are competing against each other in an extremely tight market it is not uncommon to see them throwing incentives such as giving away free plasma TVs, free counter-top upgrades, free hardwood flooring, waiving the HOA for the first few months, or splitting the HOA fees as "master community vs. building" or "North vs South parks" and such, all in order to diffuse the buyers from realizing the true costs of ownership. </blockquote>
I like the tone in it
graphrix_IHB
New member
[quote author="acpme" date=1208836435]now i'm just more confused. what's HOA? homeowners official association or something?</blockquote>
Here acpme, maybe this will help you...
http://img801.mytextgraphics.com/photolava/2008/04/18/searchforanswers-4a7qy0m4u.png
:coolgrin:
Here acpme, maybe this will help you...
http://img801.mytextgraphics.com/photolava/2008/04/18/searchforanswers-4a7qy0m4u.png
:coolgrin:
25inIrvine_IHB
New member
http://en.wikipedia.org/wiki/HOA
its amazing how wikipedia has this search function. I just type something in and hit search, and it shows me exactly what I'm looking for. Why don't we get something like that here?
its amazing how wikipedia has this search function. I just type something in and hit search, and it shows me exactly what I'm looking for. Why don't we get something like that here?
momopi_IHB
New member
Just watch um... season 6 X-Files episode "Arcadia".
http://www.munchkyn.com/xf-rvws/arcadia.html
<em>"Faced with the toughest housing crunch and highest real estate prices in the nation, Californians will do almost anything for a nice house in a decent neighborhood with clean streets. Even, perhaps, sell their souls for it. If you've recently priced single-family detached homes in San Diego, Los Angeles, or Palo Alto, the devil looks like a below-market lender without the points and fees. Sticker shock has driven more would-be Californians back to North Carolina and Texas than earthquakes and El Ni?o combined. So when the Kleins, residents of an upscale, gated community in San Diego, mysteriously disappear after violating the strict rules of the joint owner's association, the neighbors turn a blind eye, ignore the screams in the middle of the night and cover their fear with bluster and denial, lest they be forced into the greater nightmare of house-hunting in California again. Everything is fine, they chant to themselves. Nice and neat and orderly, but by God get your pink flamingo off the lawn or you'll be dead before morning."</em>
http://www.munchkyn.com/xf-rvws/arcadia.html
<em>"Faced with the toughest housing crunch and highest real estate prices in the nation, Californians will do almost anything for a nice house in a decent neighborhood with clean streets. Even, perhaps, sell their souls for it. If you've recently priced single-family detached homes in San Diego, Los Angeles, or Palo Alto, the devil looks like a below-market lender without the points and fees. Sticker shock has driven more would-be Californians back to North Carolina and Texas than earthquakes and El Ni?o combined. So when the Kleins, residents of an upscale, gated community in San Diego, mysteriously disappear after violating the strict rules of the joint owner's association, the neighbors turn a blind eye, ignore the screams in the middle of the night and cover their fear with bluster and denial, lest they be forced into the greater nightmare of house-hunting in California again. Everything is fine, they chant to themselves. Nice and neat and orderly, but by God get your pink flamingo off the lawn or you'll be dead before morning."</em>
25inIrvine_IHB
New member
i beat you momopi!
edit: aww, no need to edit momo
edit: aww, no need to edit momo
upperlowerclass_IHB
New member
Where'd the OP go?
oh and /additional generic internet jerk comment
oh and /additional generic internet jerk comment
alan_IHB
New member
Next idea, take your law degree, move to NY and get on the corporate lawyer gravy train, the bond insurers are gearing up to sue the investment banks. It will be all out corporate nuclear war soon. A full employment opportunity for attorneys.
From today's Calculated Risk...
"Here is a story from Dow Jones on the conference call: Ambac: Lawyers Scrutinizing Contracts On 17 Transactions
Bond insurer Ambac Financial Group Inc. (ABK) has hired legal and forensic experts to examine 17 of its financial guarantee transactions covering residential mortgage-backed securities as performance deteriorates.
...
[David Wallis, Ambac's chief risk officer] suggested that one prime candidate for legal scrutiny is a deal with Bear Stearns Co. (BSC) it closed in April 2007. ...
Ambac originally projected that losses on the underlying collateral of the Bear Stearns transaction would be between 10% and 12%, but now expects losses at 81.8% of underlying collateral, a transaction that has seen an unexpectedly "rapid escalation of losses," and represents an outsized percentage of the insurer's expected credit impairment, Wallis said."
From today's Calculated Risk...
"Here is a story from Dow Jones on the conference call: Ambac: Lawyers Scrutinizing Contracts On 17 Transactions
Bond insurer Ambac Financial Group Inc. (ABK) has hired legal and forensic experts to examine 17 of its financial guarantee transactions covering residential mortgage-backed securities as performance deteriorates.
...
[David Wallis, Ambac's chief risk officer] suggested that one prime candidate for legal scrutiny is a deal with Bear Stearns Co. (BSC) it closed in April 2007. ...
Ambac originally projected that losses on the underlying collateral of the Bear Stearns transaction would be between 10% and 12%, but now expects losses at 81.8% of underlying collateral, a transaction that has seen an unexpectedly "rapid escalation of losses," and represents an outsized percentage of the insurer's expected credit impairment, Wallis said."
alan_IHB
New member
Thought I'd bump this up again...
You profit from change by spotting and taking advantage of trends before they happen.
Last week starbucks was profiled in the news media because their business is suddenly shrinking as people have less disposable money to blow on $3.00 coffee.
Not sure if this is reflected in their stock price yet. I think they are currently trading based on current performance, not on the expecation that sales will tank in the next year due to the housing crissis and recession. Last year SBUX was trading at $30, now down to $15. If sales hit the crapper, then price could drop to what $5 or less.
Maybe time to short starbucks!!
You profit from change by spotting and taking advantage of trends before they happen.
Last week starbucks was profiled in the news media because their business is suddenly shrinking as people have less disposable money to blow on $3.00 coffee.
Not sure if this is reflected in their stock price yet. I think they are currently trading based on current performance, not on the expecation that sales will tank in the next year due to the housing crissis and recession. Last year SBUX was trading at $30, now down to $15. If sales hit the crapper, then price could drop to what $5 or less.
Maybe time to short starbucks!!