Real Estate

Where I live, the number of housing units increases by about 50 every year. They are high end rentals, luxury condos, townhomes, gate private communities. Yeah, go back to 2005-06 the numbers were more like 100-125, but they were also like this between 1996-99. Not one housing project, we have two, about 100 units each. One was built in 1971. The other was built in 1984. Both times during Republican presidents. The older one was rebuilt last year. Put a lot of people to work.
I’m a vet tech. The practice I work for is booming. When I was a kid, this was our family vet, one vet, one assistant. Today this same practice provides high end boarding at $20-40 per day (almost always full). Holistic pet foods at 3x the price of grocery store food, and sales are way up. We have two groomers on staff and a person that just washes animals. I’m one of three veterinary technicians (AAS) there is a veterinary technologist (BS) as well as 4 veterinarians, plus the owner and other staff. This place is grossing in the millions. Not the case 20 years ago. We don’t live in a huge city (only about 26,000) and most people are middle class to upper middle class. I make $16 per hour right out of community college. We can’t even get a fourth vet tech at this price. I make a good 10-12 hours OT every week.
My brother works for a motor freight line. They need Class A drivers, Class B drivers, forklift operators, warehouse laborers. Business is really good. You can walk in, no skill, no experience and make $11 an hour as a laborer. Make it past 90 days, you get $12 plus a good amount of OT. My brother had about 21 hours training as a forklift operator. Three 7 hour days. They started him at $14 per hour. After his 90 days probation, they paid him a $500 bonus, about what he paid for forklift training.
I don’t know one person not doing at least fairly well except for one cousin. By choice, he works a 14-17 hour week at a retail store for like $8 per hour. He’s been going to college for six years now. 3 credits a semester. My uncle should toss this lazy bum out.
TV tells us we need to own certain things. Like cars that cost $400-500 per month to own. Anyone who doesn’t own at least a 47" TV set, less than 2 years old, is poor. Everyone eats out all the time, yet has a kitchen full of fabulous appliances. If we don’t live up to the unrealistic image put out by corporate America (the GOP’s buddies) there is something wrong with our lives and we must be unhappy. If you don’t watch TV or go to movies (like me) it is amazing how much better everything seems away from the spin.

you don’t get out enough

I have had a condo for the past 7 years…always paid my mortgage and condo fee on time…A1 credit…well last year I became pregnant and had a little girl in Dec 2010…before having her I try to sell my condo for over a year and no luck…so right before I had her, I had no choice but to move, because I would not be able to afford my 1 bed 1 bath condo and the expenes of having a child (daycare, pamper, formula, etc…my condo fee when i first moved there was only like 200, now it’s $579…I have now moved to a 2 bedroom 3bth rental townhouse (which is less than the condo) and got a roommate to help with my every day expenses…my condo has been up for a short sale since dec and had to drop the price over 82,000 to sale…but all interested individuals has turned away because of the high condo fee…I just don’t know what to do…it’s all utilities included, but still 579 is expensive for a condo fee, which if anyone who buys it, their mortgage would be less…i could see if it was a luxury condo, but they are old and were built in 1970’s and management is terrible…i would attend the home association meetings, and they would say we are behind in water bill 30,000 and we behind in our electric bill 40,000…im sitting trying to figure out where is the money going…I’m scared it’s going to go in foreclosure, and I really do not want that to happen..I also work for the federal gov for 13 yrs, and looking for a new job within the government, and I’m so worried they will do a background check on me, and see I’m behind in my mortgage…I worry everyday about this, but had no choice but to move since I couldn’t afford it anymore…I just pray that someone will buy it ASAP…
I have done everything to promote, by saying all utilties included, stainless steel, up-to-date condo, etc…I didn’t have no choice, I couldn’t afford it with my baby…so for you to say that i just walked away from my responsilbities is a low blow…I DIDN’T have a choice…I’m very responsible and all my other bills get paid on time EVERY month…I’m really stuck…been trying to sell for almost 2 yrs now..and the condos in the complex over 50% is already in foreclosure…

The REALTOR that you selected to list your Condo for sale will be your best source of information.

Unfortunately, If 50% of the units in your complex are in foreclosure, it will be very difficult for a new buyer to get financing.

Also as a Short Sale, most short sale lenders take a very long time (months) to approve a Short Sale.

With respect to the background check, I recommend that you keep your other payments current.

There are many good people in your position with short sales. Very likely the best that you can do is keep your other payments current and try to show that the short sale was due to the problems that we are currently having with our economy.

Especially when a long term relationship is not on the order of the day. Why should one care how much money one makes. My ex seemed obsessed with that question. Are there other aspects in a relationship you should consider:
- life stages: does it matter if one of you is still in school while the other is on the labor market;
- age: what gap are you able to tolerate:
- level of education (similar or not, does it matter?);
- socioeconomic circumstances; does it matter if they differ?;
- do you come from a dysfunctional or a balanced family?
- did you encounter a lot of hurdles while growing up?

In my own family, my sister was married to an artsy type she had met in high school who ended up nowhere. She held the finances but did so without obsessing about it. She completed her BA and moved on while he stalled (they divorced). My brother, who has a BCom and works as a sales rep for a pharmaceutical is married to a woman who holds a PHD and works with trauma patients. They met through his supervisor, a high school friend of my SIL. They bought a house last year.

My mom and dad lived always fought over money, however I don’t know why that is. It worsened after my dad was fired without cause from his position (non medical) at an hospital. Years passed before they actually did some major renovations on the house (it took major water damage for work to be done)
My best friend has been married for two years to a man she met online. They still live in a condo. They have had their financial woes but were able to get out of it. They are planning to go to California some time next year.
As for me, I have always been single. Until I was fired from my last full time permanent job, I always enjoyed what you could do with money even though I hated my job. I did not ownn a car so I was able to use that money for other stuff. After being fired, I changed my ways: I wanted a simpler life. I stopped wearing make up, I only got the clothes I needed. I only got the things I needed for my first apartment. Notice that I say I *wanted* a simpler life and that I talk about *needing* not *wanting* things. I was disgusted with money. Still today, I am careful about how I spend my money. Having seen what money has done to my parents, my ambition is not to become excessively rich. I would be perfectly happy to continue living in an apartment and pay for small luxuries.

.Money is the root of all evil.More couples have been separated due to financial stress,than infidelity. Money may not be everything but it’s a long way in front of whatever is running second. You have the right attitude."man mind thyself".Never lend friends money

I have been in a relationship with this girl for 4 yrs and for the last two yrs it has been very tough for me. She had my kid and then completely jumped ship on me. She also quit her job and also and stopped cooking and cleaning. We lived in a luxury condo and both of us shared the bills so when she quit her job we lost 40% of our monthly income. I wanted to marry this girl so I trusted her judgment on what she was doing. So 1 yr later she still is not working. I was forced to sale my truck, motorcycle, home gym, Sony play station 2, AC, plasma HDTVs, etc…………. I also got evicted form my last apt and sued twice. Due to her no handling her stuff right. After I got sued the 2nd time I let her know that she will need to start working because I can’t hold the bag anymore. She got jobs but only worked them for 2 – 3 days before she quit. The other day I got paid a realized I’m only making 24 bucks profit on my pay checks. And that is going to the gas tank so what happens is I don’t pay one of the company’s I owe money to that month so I can feed my family. So I get 30 to 40 calls plus emails from bill collectors. I tried to get a better job but I couldn’t due to bad credit. Every day I wake up I’m very angry and just want to die I feel I’m getting more and more crazier every day. Last week the love of my life told me she never loved me and she wanted to see other people because I’m not handling my responsibilities as a man and a father to my son and her son. So she is still in my house going on dates with dudes and I try to kick her out and she will not leave. All she does is sit at home eating all the food and running up all the bills that she is not paying. She said if I try to push her out the house again she will take my son and I will never see him again. Last time i tried to kick her out she called the cops on me and I almost went to jail. I hate my life so much I just want to end it and I cant do that because I have a son who needs a father. I didn’t have anyone when I grew up so I need to make sure his life is the sh!t in his eyes. I don’t know what to do next, Everyday it seems like I have to make a life changing decision.

Yooo…..homie go to the court house sign up to pay child surport since u not making that much they can’t ask 4 much u may think it gonna hurt u but do it den file 4 custody and if her name is not on the lease get a lawyer go to court with your story and let them take it in control.homie thats sum bullshit but you gotta b a man first. or go buy we r the streets album by the l.o.x. and put wildout on repeat

The FHA, created in 1934 to make homeownership attainable for low- to moderate-income Americans, is providing a lifeline to new Manhattan luxury condominiums after sales stalled. Buildings featuring pet spas, concierges and rooftop lounges are applying for agency backing to unlock bank financing for purchasers. The FHA guarantees that if a homebuyer defaults on his mortgage, the agency will pay it.

How is this low income housing and why is the government backing it?

http://www.bloomberg.com/news/2010-08-13/manhattan-luxury-condos-embrace-federal-help-in-game-changer-for-sales.html

Because the FHA is paying off some political debt

From:
http://www.bloomberg.com/news/2010-08-13/manhattan-luxury-condos-embrace-federal-help-in-game-changer-for-sales.html

<<The Federal Housing Administration agreed in March to insure mortgages for apartments at the 98-unit Gramercy Park development, known as Tempo. That enables buyers to make a down payment of as little as 3.5 percent in a building where apartments range from $820,000 to $3 million.>>

Now, some simple calculus for you, folks. Buying an $820,000 property (that’s the very cheapest of these luxury apartments) at 3.5% one will have to make a $5K payment (mortgage plus condo-fees) every month for 30 years:

http://www.mlcalc.com/#mortgage-820000-3.5-30-4.375-3000-1500-0.52-8-2010-none

Why is the Obama’s Federal Housing Authority — which can not even properly house all the poor eligible for the Section 8 assistance (http://www.ajc.com/news/atlanta/housing-crisis-reaches-full-589653.html ) — busying itself with and tying their budget on people, who can afford to spend $5K/month on an apartment and are interested in living next to a pet spa?

If the housing market moves down only 3.5%, these new mortgages will be "underwater" — the condo-owners will owe banks more, than the properties are worth. This is when people usually tend to "walk away" from the properties — and is why a normal downpayment is at least 10% (usually — 20%). When people do walk away, the FHA (read, the taxpayers) will be on the hook for the rest of the mortgages… And rich people will not shy from walking away at all (now that we no longer throw dead-beats into jail):

http://www.nakedcapitalism.com/2010/07/rich-defaulting-at-highest-rate.html

Is it fair to suspect, this is done to further destroy Capitalism? After the staggering success with Fannie Mae and Freddie Mac, who were told by the government to relax their rules:

http://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html

to allow people buy unaffordable homes resulting in the housing bubble and the subsequent crisis of financial system:

http://www.ornery.org/essays/warwatch/2008-10-05-1.html

is the FHA now instructed to do a similar relaxation of rules to give Socialists another argument that "Capitalism does not work"?

Or is it simply a way to reward rich New York donors — both the buyers and the sellers of these luxury condos — for their support of the Democratic Party?

In a properly Free Market Capitalism, people who make a wrong bet — such as choosing to build a luxury building, when the buyers want a normal one — get punished by losing money. In Obama’s CRONY Capitalism, the government helps them out — at the taxpayers’ expense…
Correrafan! If you are referring to Bush’s use of Haliburton, well, that did not start with him (with Clinton rather) nor end with him (Obama keeps awarding the company no-bid contracts).

But I don’t recall anything like this thing on Bush’s watch — there is a completely new ground broken here, I think…

That can’t be true. He’s helping the working class. BAHAHAHAHA!!! It will be interesting to see what his followers think despite your many links.

Double Dagger playing “Luxury Condos for the Poor” live at Whartscape 2007 in Baltimore, Maryland on July 21.

Filmed by N.O. Smith

http://www.myspace.com/doubledaggersucks
http://www.myspace.com/smithfilm

Duration : 0:5:35

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Watch the Dolphins play or the Pelicans fly by in unison from your 3rd floor ocean terrace on this direct oceanfront 3 bedroom, 3 bath luxury condo. Features include stone flooring, granite counters, designer lighting, mahogany cabinets, top of the line stainless steel appliances, media niche and built-in fireplace. Your ocean terrace has a built-in grill and lots of room for entertaining. This beautiful home has laundry room complete with washer and dryer. This premier property features Grand entrance lobby, secured-access entry, private underground owner parking, exhilarating oceanfront fitness facility, spectacular social suite with gourmet kitchen, large sundeck with two oceanfront heated pools and spa. A truly exquisite property! All measurements believed to be correct but not warranted.

Duration : 0:4:12

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For pricing, floorplans & more visit +++ http://www.homechanneltv.com/video.php?VIDEO_ID=43
Experience in-town living at its best at The Residences of Uptown Park Ridge in Park Ridge, IL. This vibrant neighborhood blends suburban downtown charm with urban lifestyle. Residents enjoy living steps away from shopping, restaurants, entertainment, and convenient transportation, including one-of-a-kind boutiques, cafes, parks, the Metra and the historic Pickwick Theater. Uptown Park Ridge features condominiums with first floor retail and the residences above, surrounding a fountain plaza, with lush landscaping and pedestrian friendly streetscapes. Available residences include two bedroom, two bedroom plus den, and three bedroom plans and range in size from 1,145 square feet to 3,107 square feet. All condos feature an open floor plan, functional and spacious kitchen, a luxury master bath, and a private balcony or terrace.

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http://www.luxurystudiocitycondos.com presents twenty four luxury new Studio City condos are available for sale in the city of Studio City. The developer has added all of the upgrades that make this complex the premier condo building in the area. And, they have recently lowered their prices too. If you want to own a piece of Studio City real estate, now is your chance at 4557 Coldwater Canyon Drive. Chelsea Place

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