an interesting real estate site i found

NICKG · 02-13-2008, 06:52 AM

http://www.iasreo.com/homesforsale.aspx

they apparently are a liquidating service for banks that have foreclosed on homes. I was looking at home prices in southern Cali...not that much different than by me really, but location seems to make things big $$
are towns like desert hot springs or hemet ok?
is riverside county ok? I am afraid that these are "gang infested " and they would not like a white guy...is it really that divisional in Cali?
is san Bernardino county nice?

lot of cheap homes in these if you browse various states...they are GIVING stuff away in upstate NY (real upstate not westchester) and in places like philly..

Porsche-O-Phile · Porsche-O-Phile's Garage

Those places are out in the boonies and largely dirt-poor. Lots of trailers and scrub lots.

Personally I'd avoid Riverside and the inland empire like the plague. They were EXTREMELY over-developed the last few years and will undoubtedly be among the markets that will take the worst baths in the housing collapse. Just like they did in the 1980s and 1990s. They tried to re-invent themselves as destinations and attract better jobs, etc. but at their core, they're still poor desert towns with few resources and opportunities - some exceptions, speaking in generalities here.

They're nice enough areas on their own, but they tend to be very poor, undeducated sorts of "desert communities" where jobs are scarce and largely unskilled. To commute from any of those locales to LA or other areas where the "better" jobs are would be complete insanity.

onewhippedpuppy · 02-13-2008, 07:32 AM

Is that a paid service? Most of the foreclosure sites online tend to tease you with great prices, then ask you to pay to get specific information. Buying foreclosures can be a complicated process, and if you don't understand what you're doing you run the risk of getting burned.

Porsche-O-Phile · Porsche-O-Phile's Garage

I can't get the map to work. Agree with what Matt said. Most "foreclosure listing" sites are little more than scammers trying to get you to pony up big $$$ for a list of stuff that's public record anyway. I guess you could call it a "service" because it's a convenience (you don't have to spend your time digging through newspapers and court docs) but ultimately they're rip-offs.

My understanding of foreclosure auctions is that if you don't have cash-in-hand on the courthouse steps (+/- $100,000), don't even bother showing up.

onewhippedpuppy · 02-13-2008, 07:38 AM

Very true Jeff. Even when you do have cash, there's a number of other hurdles. In many states, the homeowners have up to one year to reclaim their home by settling with the bank. While most people who make it to foreclosure rarely take advantage of this, the house still isn't really "yours" until this right runs out. Experienced flippers often pay the homeowner to sign a paper waiving their right to reclaim the home.

NICKG · 02-13-2008, 08:02 AM

no it isn't a paid service.

tabs · 02-13-2008, 10:23 AM

POP is out to lunch when it comes to the inland empire...I doubt if he has ever been out there. Or maybe he is just too busy smokin crack with the Homeys in North LB.

tabs · 02-13-2008, 10:25 AM

Desert Hot Springs..Palm Desert, Palm Springs...Bob Hope, Frank Sinatra those kind of people used to hang out, out there. Ohhh yeah..Gearld Ford and Lee Iaoca are another coupla names.

tabs · 02-13-2008, 10:29 AM

The whole I-15 corridor down into San Diego is all Middle Class tract development. Prices will suffer out there, some places pretty bad. But compared to LB it is heaven.

tabs · 02-13-2008, 10:37 AM

Ohhh ask me how I know....I lived out that way for ohhhh 48 years.

Hemet is a nice semi rural community that was being Middle Class tract home built out. I t will suffer but still has a small town feel. I wouldn't have a problem living out in Hemet. It is a little higher elevation.

Oh and another place ole POP holds his nose at would be La Cresta...down the 15 before you get to Murietta...up in back of Bear Creek Golf Course...minmum 5 acre parcels running to 20 acres...now all mulit-million $$$$ horse property homes, many with killer views. They were million $$ homes before the RE market even began to take off. Now there is a place I coulda bought into and didn't like the fool that I am. Would live out there in a flash. A world of its own that has nothing to do with the rest of S CA.

tabs · 02-13-2008, 10:47 AM

Now if U asked me Wayne is a GD fool for thinking about Palo's Verde's. He is going to pay bank for that address even in the steepest down turn. It was EXPENSIVE 50 years ago. Ask me how I know. Wayne would be much better off moving his biz out to Ontario Airport...UPS has a hub there, and buying a piece of property up in La Cresta. Five acre minimum horse property. Cools off at night because of the ocean breezes. Some of the homes there even have distant ocean views. Others have 180* views where you can see Mt Baldy, Big Bear and Mt San Jacinto all in the same sweep. That is at least a 100 mile view of the surrounding areas. The real up side is that your away from the crawling masses of people that constitutes LA. Your in your own little secluded world up there.

the · 02-13-2008, 10:51 AM

Yes, the Rat Pack may have technically been hanging in Riverside County when they were in Palm Springs, but I doubt they spent much time in downtown Riverside, San Bernardino, Victorville or Grand Terrace.

The "inland empire" and Riverside and San Berdo counties cover a lot of area. In fact, San Bernardino County is the largest county in the country. So you are of course going to have a lot of variance, some nice areas, and some bad.

But IMO, generally speaking, P-O-P is correct about the majority of Riverside and SB areas. They have traditionally been hit very hard during real estate declines, and this time will be no different. Someone moving from out of state to "Riverside County" or "San Bernardino County," or thinking about buying a house in those areas, needs to be VERY, VERY careful and do a lot of research as to exactly where the house is.

NICKG · 02-13-2008, 10:55 AM

i look now so when the dip hits i can see it, are there jobs out there? My wife and I are solid middle class, we would rent out our home in nj and move to cali..buy and live there. i am tired of the northeast weather.
it looks like there is a similar housing market to me as there is in NJ

Porsche-O-Phile · Porsche-O-Phile's Garage

Yea, there's some nice areas out there - good ranchland and such, but there's a lot more of it that is really pretty destitute and "white-trashy" for lack of a better term.

Eric Coffey · 02-13-2008, 11:19 AM

Quote:

Originally Posted by NICKG

http://www.iasreo.com/homesforsale.aspx

they apparently are a liquidating service for banks that have foreclosed on homes. I was looking at home prices in southern Cali...not that much different than by me really, but location seems to make things big $$
are towns like desert hot springs or hemet ok?
is riverside county ok? I am afraid that these are "gang infested " and they would not like a white guy...is it really that divisional in Cali?
is san Bernardino county nice?

Used to live in Temecula, and there wasn't much out there then. Still a nice/clean town though, and only about 45 min. drive to San Diego. Went back a few years later and was amazed at the growth.

tabs · 02-13-2008, 11:39 AM

Quote:

Originally Posted by Porsche-O-Phile

Yea, there's some nice areas out there - good ranchland and such, but there's a lot more of it that is really pretty destitute and "white-trashy" for lack of a better term.

Ohhh U have been smokin crack with the Homeys...if N LB, Compton looks good to U in comparison to Riverside County. Just take a look at Redlands or even Yuccipa...there is some pretty heavy money out in those "white-trashy" areas.

Now in San Brodooo you might get caught dead in like N LB. Ehhh Grand Terrace not my cup of tea, Moreno Valley...whew last RE downturn it was devastated...10 houses on a block foreclosed on and boarded up. Came back nicely though, probably will do better this time around. Old Riverside shows up in a lot of movies...nice CA Craftsman Bungalows and there is UC Riverside Yet there are areas that are dicey.. ****cla, Sun City and Murrietta all have boomed and are now mostly upper middle class suburbs. Canyon Lake...a mud puddle calling itself a lake...but an enclave of Upper middle class homes never the less. Perris...ehhhh wouldn't spend any time there.

BTW: I consider the Lakes here in LV to be a mud puddle too and Celine Dion had a $10M home there, along with all the other $10M homes. .

As far as jobs....A lot of businesses have moved out of LA to the Ontario Airport corridor. it is cheaper to operate there. There are lots of jobs out there.

The Inland Empire is one of the hot growth areas in Calif. Like I said UPS has its Hub there. BMW has its parts distribution center there. etc

the · 02-13-2008, 11:56 AM

good to see there are still some fanz of the 909!

Shout out to the 909!

motion · 02-13-2008, 12:02 PM

Quote:

Originally Posted by tabs

Now if U asked me Wayne is a GD fool for thinking about Palo's Verde's. He is going to pay bank for that address even in the steepest down turn. It was EXPENSIVE 50 years ago. Ask me how I know. Wayne would be much better off moving his biz out to Ontario Airport...UPS has a hub there, and buying a piece of property up in La Cresta. Five acre minimum horse property. Cools off at night because of the ocean breezes. Some of the homes there even have distant ocean views. Others have 180* views where you can see Mt Baldy, Big Bear and Mt San Jacinto all in the same sweep. That is at least a 100 mile view of the surrounding areas. The real up side is that your away from the crawling masses of people that constitutes LA. Your in your own little secluded world up there.

Sounds nice on paper, but in reality the smog is so bad you can't see the mountains except on certain days in the winter.

charleskieffner · 02-13-2008, 01:18 PM

Quote:

Originally Posted by the

Yes, the Rat Pack may have technically been hanging in Riverside County when they were in Palm Springs, but I doubt they spent much time in downtown Riverside, San Bernardino, Victorville or Grand Terrace.

The "inland empire" and Riverside and San Berdo counties cover a lot of area. In fact, San Bernardino County is the largest county in the country. So you are of course going to have a lot of variance, some nice areas, and some bad.

But IMO, generally speaking, P-O-P is correct about the majority of Riverside and SB areas. They have traditionally been hit very hard during real estate declines, and this time will be no different. Someone moving from out of state to "Riverside County" or "San Bernardino County," or thinking about buying a house in those areas, needs to be VERY, VERY careful and do a lot of research as to exactly where the house is.

WRONG-O! MARICOPA COUNTY IS THE LARGEST COUNTY IN THE U.S! larger than the country of israel!

jes the facts and only da facts!

NICKG · 02-13-2008, 02:18 PM

what are the rentabilities of a 2 br house?