Irvine, California : The Year is 2012

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PANDA_IHB

PANDA_IHB

New member
Let's assume that unemployment reaches 15% in Orange County, DOW crashes to 4000 - 5000, and mortgage rates rise to 8 - 10% by the year 2012. Let's also assume that cash rich foreign buyers and oversea immigration into Irvine gets cut down by 70%. For the million dollar+ homes that sold at the peak of the bubble in 2004 - 2007 what price would you guys guess that you can acquire one of these homes in a foreclosure in the year 2012?



Woodbury: Villa Rosa, Juliet's Balconey, Rosemoor, etc.

Portola Springs: Las Colinas, Serra, Manzanita, etc.

Quail Hills: Million Dollar homes in QH.

Northwood II: Camelia, Bella Rosa, etc.



An OC agent i knew two years ago had told me that these homes cannot foreclose as buyers for these homes have put down atleast $300,000 - $400,000 in down payment. IR2, in general, would this statement be correct for million dollar home purchasers in Irvine between 2004 - 2006? Which tracts and neighborhoods can we potentially see the best opportunities to acquire one of these homes to foreclosure?



Irvine Renter, I would love to hear your opinion on this.
 
According to the Mayans, the world ends in 2012. I'd suggest renting until at least 2013; I'd hate for you to see all your equity go up in a puff of smoke.
 
2012.

This guy has been right on target.



What happens when the Bond Market explodes ?

Peter Schiff 1/7/09.



<a href="http://www.youtube.com/watch?v=gYwsJGbDJHw&NR;">http://www.youtube.com/watch?v=gYwsJGbDJHw&NR;</a>



The Result is.

<img src="http://www.bltserv.com/images/art.50.billion.zimbabwe.afp.gif" alt="" />
 
Huh? Mel Gibson gets plastic surgery, a hair transplant and a dog in 2012?



My prediction is IHO is still stuck in his rental because those darn FCBs won't stop putting air in the bubble.
 
[quote author="PANDA" date=1233380703]An OC agent i knew two years ago had told me that these homes cannot foreclose as buyers for these homes have put down atleast $300,000 - $400,000 in down payment. IR2, in general, would this statement be correct for million dollar home purchasers in Irvine between 2004 - 2006? Which tracts and neighborhoods can we potentially see the best opportunities to acquire one of these homes to foreclosure?</blockquote>


Not one iota of that statement is correct. Regardless of how a home was initially purchased in 2004-2006, the possibility for refinancing (also read: "heloc abuse") has been readily available for every home in OC since then.
 
[quote author="PANDA" date=1233380703]



An OC agent i knew two years ago had told me that these homes cannot foreclose as buyers for these homes have put down atleast $300,000 - $400,000 in down payment. IR2, in general, would this statement be correct for million dollar home purchasers in Irvine between 2004 - 2006? Which tracts and neighborhoods can we potentially see the best opportunities to acquire one of these homes to foreclosure?



Irvine Renter, I would love to hear your opinion on this.</blockquote>


A prime example of why the Real Estate agents need regulation. That's GARBAGE.....1 home buyer does not equate to the standard!
 
Interest rates at 8-10%?!? What are you smoking? Have you ever heard of Japan?



Schiff is a moron. See today's WSJ Money & Investing section for details.
 
[quote author="CapitalismWorks" date=1233386462]Interest rates at 8-10%?!? What are you smoking? Have you ever heard of Japan?



Schiff is a moron. See today's WSJ Money & Investing section for details.</blockquote>


Smoking Pineapple Bamboo? LOL



8-10% hahaha....maybe 5-6% Panda
 
[quote author="IrvineRealtor" date=1233385963][quote author="PANDA" date=1233380703]An OC agent i knew two years ago had told me that these homes cannot foreclose as buyers for these homes have put down atleast $300,000 - $400,000 in down payment. IR2, in general, would this statement be correct for million dollar home purchasers in Irvine between 2004 - 2006? Which tracts and neighborhoods can we potentially see the best opportunities to acquire one of these homes to foreclosure?</blockquote>


Not one iota of that statement is correct. Regardless of how a home was initially purchased in 2004-2006, the possibility for refinancing (also read: "heloc abuse") has been readily available for every home in OC since then.</blockquote>


<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>
 
[quote author="PANDA" date=1233380703]An OC agent i knew <strong>two years ago</strong>...</blockquote>


I have nothing to add.
 
[quote author="AVRenter" date=1233384194]<img src="http://www.iwatchstuff.com/2007/03/14/mad-max-4.jpg" alt="" /></blockquote>


I was all ready to be the Road Warrior on 12/31/1999. Needless to say, 1/1/2000 was a big disappointment.
 
Panda...



You forgot to add, <a href="http://en.wikipedia.org/wiki/San_Andreas_Fault">"The Next Big Earthquake"</a> that is so loooong overdue. I'm so glad I'm renting!
 
Why is it so absurd to think interest rates will be above 10%?

What is this "credit crisis" anyway? Its all about credit and market forces. Rates are low because everyone assumes that interest rates are set by "central banks." Wake up sheeple. Interest rates are based on the same thing everything else is based upon: the MARKET. You can manipulate it however you want, but the inevitable is upon us. If the dollar collapses, the world collapses. World War III will be inevitable. NOW IS THE TIME FOR RESPONSIBILITY. Everyone f&*ked up, ok, but this is no time for bullsh*t or blaming. This is serious. Irvine and all other cities must take responsibility NOW, not tomorrow. Even if there is no collapse, we must be prepared.



Irvine was a ranch, and still is. All unused soil should immediately be used for crops. It is not worth finding out later that no one will ship us food because our currency is on par with zimbabwe. Vertical farms should be established. The most important commodities are food and water, forget gold and oil. One must truly think through the consequences of collapse. Here is a simplified mathematical formula:



Collapse = the inability to pay debt as obligated + diminished bargaining position in renegotiation + sovereign liability = new currency backed by future generations labor = severe injustice = war.



So, in essence, each city must maintain civilized society by doing the following:

Establishing IMMEDIATELY food reserves and crop operations

Ensuring the ability and establishing a reserve for law enforcement operations to be paid in currency equivalents

Ensuring the balance of power by establishing reserves for proper judicial operation for local law enforcement

Making all precautions incident to any of the above, including fuel reserves, the creation of databases for resident information to distribute the food, etc.



Im not saying its going to happen, im saying IT MIGHT. Seems to me we are returning to a local government paradigm, i hope not, but it could happen.



Think about this: about 100 years ago James Irvine refused to let railroads build through his ranch. So one day the railroad (who is smart and powerful) decided to just start building when courts were closed. (I don't know why that made a difference, unless they couldn't get an injunction that very day... but i think these days doing something like that gets punitive damages) So James Irvine and his ranchers had to go out to where they were building with shotguns to make them stop. He had no excuse for being unprepared. May his legacy live on forever. And his son Myfords, too, who is the reason america is the greatest country in the world. Yes, ladies and gentlemen, without Irvine, specifically, Myford Irvine (James son), America would not be a super power. He gave Albert Michelson (hence the name of the street) everything he needed to find the speed of light, which was found within 2km/s right here in Irvine. Yah you think Einstein was the man? Well his e=mc^2 equation, there is no c without Michelson, and there is no Einstein without c. Yah, thats right. Brilliant.



There is a silver lining but we won't know till later.
 
[quote author="LoudRoar" date=1233390422]Why is it so absurd to think interest rates will be above 10%?

What is this "credit crisis" anyway? Its all about credit and market forces. Rates are low because everyone assumes that interest rates are set by "central banks." Wake up sheeple. Interest rates are based on the same thing everything else is based upon: the MARKET. You can manipulate it however you want, but the inevitable is upon us. If the dollar collapses, the world collapses. World War III will be inevitable. NOW IS THE TIME FOR RESPONSIBILITY. Everyone f&*ked up, ok, but this is no time for bullsh*t or blaming. This is serious. Irvine and all other cities must take responsibility NOW, not tomorrow. Even if there is no collapse, we must be prepared.



Irvine was a ranch, and still is. All unused soil should immediately be used for crops. It is not worth finding out later that no one will ship us food because our currency is on par with zimbabwe. Vertical farms should be established. The most important commodities are food and water, forget gold and oil. One must truly think through the consequences of collapse. Here is a simplified mathematical formula:



Collapse = the inability to pay debt as obligated + diminished bargaining position in renegotiation + sovereign liability = new currency backed by future generations labor = severe injustice = war.



So, in essence, each city must maintain civilized society by doing the following:

Establishing IMMEDIATELY food reserves and crop operations

Ensuring the ability and establishing a reserve for law enforcement operations to be paid in currency equivalents

Ensuring the balance of power by establishing reserves for proper judicial operation for local law enforcement

Making all precautions incident to any of the above, including fuel reserves, the creation of databases for resident information to distribute the food, etc.



Im not saying its going to happen, im saying IT MIGHT. Seems to me we are returning to a local government paradigm, i hope not, but it could happen.



Think about this: about 100 years ago James Irvine refused to let railroads build through his ranch. So one day the railroad (who is smart and powerful) decided to just start building when courts were closed. (I don't know why that made a difference, unless they couldn't get an injunction that very day... but i think these days doing something like that gets punitive damages) So James Irvine and his ranchers had to go out to where they were building with shotguns to make them stop. He had no excuse for being unprepared. May his legacy live on forever. And his son Myfords, too, who is the reason america is the greatest country in the world. Yes, ladies and gentlemen, without Irvine, specifically, Myford Irvine (James son), America would not be a super power. He gave Albert Michelson (hence the name of the street) everything he needed to find the speed of light, which was found within 2km/s right here in Irvine. Yah you think Einstein was the man? Well his e=mc^2 equation, there is no c without Michelson, and there is no Einstein without c. Yah, thats right. Brilliant.



There is a silver lining but we won't know till later.</blockquote>


I got my <a href="http://www.thereadystore.com/mre?gclid=CMTf74LHt5gCFRlcagodQFH2bQ">MREs</a> ready to go...
 
[quote author="roundcorners" date=1233390727]



I got my <a href="http://www.thereadystore.com/mre?gclid=CMTf74LHt5gCFRlcagodQFH2bQ">MREs</a> ready to go...</blockquote>


Btw, I was recently reviewing my emergency earthquake plan and was wondering if anyone knew a local place to buy water storage barrels/containers? I've seen some on the internet but they charge $$$ for shipping. How do other people store their emergency water?
 
[quote author="roundcorners" date=1233389434]Panda...



You forgot to add, <a href="http://en.wikipedia.org/wiki/San_Andreas_Fault">"The Next Big Earthquake"</a> that is so loooong overdue. I'm so glad I'm renting!</blockquote>


Seriously, can you imagine if we also got a suprise terriostist attack bombing the U.S. Bank Tower in LA in addition to the major earthquake in 2012?
 
I'd imagine if all of those things come true, you'll have other issues on your mind than how to buy a formerly $1mil house.
 
[quote author="optimusprime" date=1233386591][quote author="CapitalismWorks" date=1233386462]Interest rates at 8-10%?!? What are you smoking? Have you ever heard of Japan?



Schiff is a moron. See today's WSJ Money & Investing section for details.</blockquote>


Smoking Pineapple Bamboo? LOL



8-10% hahaha....maybe 5-6% Panda</blockquote>


Actually, I've been smoking my custom made PineappleXpress Bamboo Bong from Shenzhen. Once Novas gets a sniff of this stuff, he is going to get so high, he will think that he's the last emperor living in Shanghai. Sorry, Novas still in prototype stage so i can't sell you one right now. :)
 
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