The Tea Party wants more foreclosures, deny renters right to vote

Mar 4th, 2011  
by IrvineRenter  in Library News

Astute Observations

Astute Observation by rkp
2011-03-04 07:56 AM

Are there that many MLS searchers who know the plans of properties they are looking for?  Why do agents spell out the plan or model as if its something so important?

I wish MLS had better rules and checks.  There are fields for builder and plan but they are rarely used.

Astute Observation by Planet Reality
2011-03-04 09:10 AM

Go to talkirvine.com.

These people know the plans.  If they knew where the 2014 collection TIC plans were currently held, they would go into secret ops mod to find them.  If you give them a plan name they may be able to tell you what the neighboring plans are, bordering on savant talent.

They may try to get their genius dorky violin playing 9 year old (aka your future kid boss) to remote view the Irvine new building plans.

Astute Observation by Planet Surreality
2011-03-04 11:48 PM

You should see the endless crowds of parents and their genius violin player children all frolicking like it’s Christmas and Fat Tuesday every night at the IRVINE SPECTRUM! Wave after wave of FCB’s with genius violin-playing offspring are frantically throwing all-cash offers at Irvine real estate, so you’d better hurry before prices start making irreversible quantum leaps. Did I mention it’s like a combination of Easter Sunday and the 4th of July EVERY DAY at the IRVINE SPECTRUM? Don’t delay, or your genius Ph.D. engineer boss will be playing you a sad violin concerto while you fetch his coffee before you can say “priced out”.

Astute Observation by awgee
2011-03-05 08:40 AM

Are all the parents of the genius violin playing offspring receiving 10% salary increases every month like you?

Astute Observation by irvine_home_owner
2011-03-04 10:33 AM

@rkp:

I take it you’re not a house hunter.

When spending that much money, what plan or model is often just as important as location and price because it can help you determine what floorplan it is.

And the fields for builder, tract and plan are very much used (at least in Irvine MLS listings). They are important to many MLS searchers as square footage, bed/bath count and pictures are not enough.

That’s like shopping for a computer without looking at the specs.

Astute Observation by rkp
2011-03-04 01:57 PM

I am a very active house hunter and even have the brochures and floorplans of every SFH that was built in Irvine in the last 5 years. 

I agree that its a very important to know the model but I dont think majority of searchers know what the model means as their is no central database.  Esp for older homes, its hard to find any details on a website as the builder probably didnt have a site with floorplans in 1997.

Any way, I guess there are more house nerds than I thought…

Astute Observation by irvine_home_owner
2011-03-04 02:03 PM

Actually… I have a software subscription that gives me a database of all Orange County floorplans.

And most realtors have the same service and can provide those floorplans for their customers (some have them online).

So yes… I am a housing nerd too.

Astute Observation by AZDavidPhx
2011-03-04 04:04 PM

No life, huh?  Spend more time at the Irvine Spectrum with PR.

Astute Observation by irvine_home_owner
2011-03-04 04:12 PM

Speaking of the Spectrum, went to Souplantation with the family last night… packed to the gills couldn’t even get in to eat (and this is a place that is basically a $9.99 soup and salad bar). Went over to the Jamboree center off of the 405 (not the Diamond/FCB/85º one) to eat at CPK, couldn’t find parking for 15 minutes.

Stupid recession.

Astute Observation by Corner Office
2011-03-04 04:19 PM

No one pays full price at Souplantation!!!  Check out their coupons!  Family of 4 can eat for $20 with the discounts they are shelling out right now. 

All the ice cream the kids can hold down.  The wife and I love it.

Astute Observation by AZDavidPhx
2011-03-04 04:23 PM

The good folks of Irvine were lining up for soup?  How ironic.

Astute Observation by bigmoneysalsa
2011-03-04 04:34 PM

We’re not in a recession. What’s your point?

Astute Observation by leforded
2011-03-08 01:38 AM

No, it’s called a Depression. Look around.

Astute Observation by matt138
2011-03-04 08:32 AM

Not letting renters vote?  Insanity.  We might as well disallow the private sector as well.  This way the voting populace will be comprised of underwater homeowners and those that collect a check from the government.

here’s a gem:

http://www.youtube.com/watch?v=2af69xt0VKE

Astute Observation by Anonymous
2011-03-04 03:12 PM

What kind of rationalization is it to say if the founding fathers didn’t let renters vote then, then renters should not vote now?

With that logic, then modern day voters should be like they were in 1660.  Oh, wait a minute, then all the voters would be pretty much the Tea Party Demographic (rich white males).  As Arsineo Hall would say .... that’s a thing that makes you go hmm ....

The voting lists of the 1660s use the term “freeman,” anyone not a servant, and “freeholder,” anyone owning property, almost interchangeably. Excluded from voting were women, Indians, blacks, ex-convicts, and usually servants. Often in many communities Quakers, Jews and Catholics were excluded
(http://www.historiography101.blogspot.com/2003_10_12_archive.html)

Astute Observation by adeptic
2011-03-04 08:33 AM

I notice that the payment is calculated based on a 4.25% mortgage rate.

Did the rates truly drop to 4.25% from the ~5% or is it a typo?

Astute Observation by IrvineRenter
2011-03-04 09:55 AM

That was a typo. I have updated the post. Thanks.

Astute Observation by Dave Kinkade
2011-03-04 08:59 AM

That is ridiculous to say renters should not vote.  That being said, ill-informed people should not be allowed to nullify the vote of people who have taken the time to actually learn the issues.  Our country is suffering mightily because people were so busy FEELING instead of actually thinking last time around.  I’m not saying the other candidate was better but the damage to our system would likely not be as significant.

Astute Observation by ripcord
2011-03-04 01:59 PM

The trouble with your suggestion is simple this: who gets to decide who is ill-informed?  Because more people disagreed with you than agreed with you in the last election you maintain they were FEELING while you were actually thinking?  The implications you are making are distasteful to say the least.

I keep hearing about all the damage Obama has done, yet it seems to me my taxes are lower than ever and most of the things that went wrong horribly went wrong before the election.  Sure, you can argue that continuing the bailouts that Bush II started was wrong, but I can’t imagine that McCain would have done any differently given the enormous pressure he would have been under by the financial interests (where, of course, the real power is).

Let me ask you this.  What should have Obama done that he didn’t do?

Astute Observation by Dave Kinkade
2011-03-04 03:47 PM

Rip, I seriously doubt anything anyone tells you will persuade you that Obama wasn’t Mr. Right.  I’m not even going to try.  To answer your question about what he should have done that he didn’t do would take ten paragraphs.  Not even worth the energy.

Astute Observation by ripcord
2011-03-04 03:55 PM

First off, Dave, I don’t think Obama is Mr. Right.  Just because I don’t believe he deserves all the disdain he gets doesn’t make me a fan of his.  I think for myself.

I just don’t get it.  Banks get huge bailouts.  Taxes stay low.  He continues two foreign wars.  Yet somehow he’s a socialist?

Was Bush II a socialist?

Astute Observation by AZDavidPhx
2011-03-04 05:04 PM

Exactly right.  Not one thing has changed even though that is was what “the voters” supposedly wanted.

People wanted Obama to come in and take a stand for the common man, stand up to Wall Street, stop interfering in the middle east, etc.  Instead, what they got was a continuation of the previous administration along with a mandate to force everybody to buy a health insurance policy.

This is why voting is a waste of time.  The corporations do the real voting and the common man gets the pick.

The table is tilted, the game is rigged.  Yet nobody seems to notice, nobody seems to care…

Astute Observation by Anonymous
2011-03-04 03:18 PM

Sometimes I wonder what would happen if they made the following election rules changes:
1. No TV or radio ads allowed
2. All ads have to be either written on the Internet, or 5 pages or less and included in a pamphlet distributed to all voters.

That way, the amount of money you had to spend on a campaign would be irrelevant, because the cost of campaigning would be cheap.  The only way you could win would be to have the best written arguments.  There would be no reason to have to take millions and millions of dollars from special interest groups to run for office.

I suspect that the quality of candidates in office would increase substantially.

Astute Observation by AZDavidPhx
2011-03-04 04:09 PM

Anyone who votes is just stroking themselves anyway.  If you think that your vote actually makes one bit of difference then you are a moron.

We definitely don’t need to cram more ignorant selfish voters into voting booths.  The idea that all the peasants get a vote is a cute idea, but we all know deep down that it is meaningless.

Don’t want renters to vote?  Doesn’t bother me!  I could not care less.  Let the property owners call the shots - it’s not as though the results can get any worse than what we presently have.

Astute Observation by irvine_home_owner
2011-03-04 04:23 PM

If you think that your vote actually makes one bit of difference then you are a moron.

AZDave just jumped the shark.

Astute Observation by AZDavidPhx
2011-03-04 04:31 PM

Not at all, I have always maintained that voting is a waste of time.  The folks who do the real voting are the corporations. 

The proletariat vote second.  If you think otherwise then you are kidding yourself.  Just look at Obama who was supposed to be the champion of the common man and bring the country back from the grip of the crooked business interests.  DOH!

Astute Observation by Chris
2011-03-04 09:30 PM

They might as well suggest that only college grads from accredited institutions (none of those Devry crapo degrees) can vote.

Stupid…..

Astute Observation by IndieDev
2011-03-04 09:06 AM

This guy didn’t get an F? He pulled nearly half a million in HELOC money and is now going to squat for two years while the banks find a way to not realize this on their books. The only thing missing is an S-Class Mercedes on his driveway.

Astute Observation by AZDavidPhx
2011-03-04 04:11 PM

Jealousy.  I agree with PR on this one - next time, don’t forget to join the party.

Astute Observation by lee in irvine
2011-03-04 09:41 AM

The OC is well into the next step down.

Per DataQuick, median single family home sales:

2010 Monthly
$490,000 = Jan
$490,000 = Feb
$515,000 = Mar
$505,000 = Apr
$515,000 = May
$515,000 = Jun
$517,500 = Jul
$530,000 = Aug
$525,000 = Sep
$500,000 = Oct
$500,000 = Nov
$470,000 = Dec

2011 Weekly/Monthly
$480,000 = Jan
$475,000 = Feb 8
$465,000 = Feb 15

Astute Observation by Planet Reality
2011-03-04 09:54 AM

Why did you leave out the part when it was at $418,500 in January 2009 when the world was coming to an end?

When will we get back to that?  It’s still the bottom.

Astute Observation by IrvineRenter
2011-03-04 09:59 AM

I guess you missed the chart in Wednesday’s post that clearly showed that early 2009 was NOT the bottom in real estate prices. In case you missed it, you can find it here.

http://www.irvinehousingblog.com/images/uploads/01 2011 03 Posts/Irvine_double-dip.png

Astute Observation by Planet Reality
2011-03-04 10:06 AM

I guess you missed this was about Orange County.  Prices are definitely still higher than Jan 2009 in Irvine.  The ppsf doesn’t capture that, but the mix is lower right now.

Astute Observation by Planet Reality
2011-03-04 10:15 AM

Find Irvine transactions in Jan 2009.

So far that has been by far the best time to buy.

There was panic in the streets.

It will take similar panic to get back there, possible we shall see.

Astute Observation by tenmagnet
2011-03-04 10:38 AM

Exactly, in the meantime buyer demand is strong so it’s build baby build!

Astute Observation by lee in irvine
2011-03-04 11:08 AM

Fear was much higher in 2009 than it is now, mainly because the crash in equities.

Now this could be just me, but it feels like we’re recycling the 2007/08 run-up in commodities, as housing rolls over, and the VIX starts to rise, only to end in oil & equities crashing.  We shall see.

Astute Observation by irvine_home_owner
2011-03-04 11:16 AM

Are you calling a triple dip?

Astute Observation by lee in irvine
2011-03-04 11:31 AM

I never believed that we were out of the initial dip.  Since the 2008 crash, any positive economic data released was either a result of govt/Fed spending, or manipulation.  That doesn’t make me a cynical person, just someone paying attention.

Astute Observation by Planet Reality
2011-03-04 11:45 AM

Lee I agree, it’s possible we are re-tracing the 2007
run up and we will re visit the 2009 fears which would mean we get back to the 2009 bottom.

It’s also possible that this time inflation is for real.

2007 was fueled by debt speculation, now it’s mostly fueled by cash.  That’s the major difference.

Astute Observation by lee in irvine
2011-03-04 12:19 PM

“2007 was fueled by debt speculation, now it’s mostly fueled by cash.”

I disagree.  The Fed loans money to the banks @ 0%, they leverage the money then buy US Treasuries or they speculate in equities/commodities. 

“It’s also possible that this time inflation is for real.”

We can’t have the “real inflation” that your referring to with unemployment at 8.9% and underemployment in the high teens.

The only inflation I see is rising commodities, and this is in my opinion, speculation.  However, oil is also rising because of tensions in the middle-east.

Astute Observation by lee in irvine
2011-03-04 11:03 AM

2008 Monthly
$583,250 = Jan
$575.000 = Feb
$570,000 = Mar
$555,000 = Apr
$537,000 = May
$550,000 = Jun
$515,000 = Jul
$500,000 = Aug
$480,000 = Sep
$480,000 = Oct
$430,000 = Nov
$425,000 = Dec

2009 Monthly
$418,250 = Jan
$434,500 = Feb
$431,500 = Mar
$430,000 = Apr
$475,000 = May
$485,000 = June
$490,000 = July
$500,000 = Aug
$500,000 = Sep
$489,000 = Oct
$500,000 = Nov
$500,000 = Dec

2010 Monthly
$490,000 = Jan
$490,000 = Feb
$515,000 = Mar
$505,000 = Apr
$515,000 = May
$515,000 = Jun
$517,500 = Jul
$530,000 = Aug
$525,000 = Sep
$500,000 = Oct
$500,000 = Nov
$470,000 = Dec

2011 Weekly/Monthly
$480,000 = Jan
$475,000 = Feb 8
$465,000 = Feb 15

Astute Observation by irvine_home_owner
2011-03-04 11:06 AM

The problem with median pricing and even average $/sft is that it’s not entirely accurate.

For all we know, one month sold more condos than large SFRs (and they actually counter each other, smaller homes will result in lower median pricing, but higher $/sft).

Maybe if that data is segmented into different categories, it will be more clear.

Astute Observation by Planet Reality
2011-03-04 11:10 AM

That’s median SFR, which is much better than median price or median ppsf.

It’s worth while to look at and jan 2009 is still the bottom.

Astute Observation by lee in irvine
2011-03-04 11:13 AM

I agree ... however the median is the most common used instrument to show the big picture of what is generally happening with housing prices.  It’s not absolute, and it can be deceiving, HOWEVER, what’s not deceiving is that OC prices are going down as I type this note.

Astute Observation by bigmoneysalsa
2011-03-04 11:39 AM

There was a local minimum in prices in early 2009. No doubt about it. But it remains to be seen whether that was in fact the bottom. Prices have started falling once again going by both the median and the Case-Shiller index. We are not far from the early 2009 lows and extrapolating current trends we could easily zoom right past them this year.
Some people like to talk as if they’ve already been proven right, when in fact the jury is still very much out.

Astute Observation by AZDavidPhx
2011-03-04 04:44 PM

Ask PR about how all that premium real estate in “Shady Canyon” is doing.  I assume he bought multiple properties there in Jan 2009.

Astute Observation by Walter
2011-03-04 10:15 AM

“What stops someone from forming a corporation, buying property in that corporation, and selling shares to anyone who wanted to vote? If you owned shares in the corporation, you owned land.”

Buy REIT shares before the Tea Party takes over? If you own one share of a REIT, you own land. That should do the trick.

Astute Observation by irvine_home_owner
2011-03-04 10:41 AM

Does it amaze anyone that these Westpark II homes are still trading for $1mil? This one is already in back up and a home in the same tract sold for $965k.

These homes were $700k in the early 2000s and were $400k in the late 90s.

Where is the 1999 pricing? We need it for the children!

Astute Observation by Planet Reality
2011-03-04 11:01 AM

Didn’t you get the ppsf memo?  These homes are selling less, not more than jan 2009 LOL.

Astute Observation by lee in irvine
2011-03-04 11:21 AM

PR ... you have strong nature to want to be right.  It’s part of who we are as humans ... we want to protect our identity to be right.

That’s who we are.

Astute Observation by AZDavidPhx
2011-03-04 04:36 PM

PR is always right.  He nailed the interest rate predictions last year and his predictions of 2% interest rates that continue to break record lows is unfolding as we speak.  Head over to Irvine Spectrum and raise a glass.

Astute Observation by tenmagnet
2011-03-04 11:10 AM

Those deep discounts and 1999 roll backs can certainly be found elsewhere.
You can get more for more your money buying in lower “quality” areas.
In Irvine, you have multiple offers, bidding wars, all cash buyers and FCBs to contend with.

Astute Observation by rkp
2011-03-04 02:01 PM

Thats not true…I am seeing discounts in northpark and VoC right now.  Even QH is coming up in my searches when it hadnt in years.  Point is that parts of irvine arent moving as fast as other parts.

Astute Observation by tenmagnet
2011-03-04 04:04 PM

Yeah, I meant to say it’s competitive in the premium areas.
There’s a lot of money chasing properties in the well located areas of Irvine.
VOC = secondary market.

Astute Observation by AZDavidPhx
2011-03-04 04:46 PM

Premium areas like “Shady Canyon”?

Astute Observation by Squareround
2011-03-04 06:06 PM

What I sensed in Irvine is this: Crashing imminent in every community.

Astute Observation by AZDavidPhx
2011-03-04 04:00 PM

Where is the 1999 pricing? We need it for the children!

Why do the children need 1999 pricing?

I thought they just needed those good Irvine schools that have gotten so much better since 1999!

Fundamentals are strong!

Astute Observation by PnL
2011-03-04 11:08 AM

Don’t you know Irvine is the epicenter for FCBs and hedgefund cash?

Astute Observation by Squareround
2011-03-04 02:49 PM

Hi, Irrenter,

Why the total debt is only 1007000. If you add all the HELOCs to the first mortgage it is more than 1.5 million.

Astute Observation by IrvineRenter
2011-03-04 07:23 PM

When they refinance the first mortgage, they consolidate all the loans that came before it. The same is generally true of HELOCs. When figuring out the total property debt, I always look for the final first mortgage plus the last HELOC or second mortgage.

Astute Observation by irvine_home_owner
2011-03-04 04:02 PM

Back on the topic of this house… who puts in granite, new sink fixtures and a stainless steel fridge and hood, but leaves the original… err… “classic” white ovens?

Maybe that’s why the listing didn’t say it was a “gourmet kitchen”.

Astute Observation by AZDavidPhx
2011-03-04 04:18 PM

They are not as classy as you are, Irvine HO.  It’s probably one of the sacrifices that they made so that the children could go to a good school even though it means having to prepare food in a kitchen that is subpar on the Yuppie scale.

Astute Observation by Sue in Irvine
2011-03-04 04:52 PM

That is funny David LOL

Astute Observation by Planet Reality
2011-03-04 06:47 PM

soup lines : great depression : : souplantation : irvine spectrum

Astute Observation by Fossbeck
2011-03-04 10:18 PM

It’s possible that I am just incredibly dense, but I fail to see how Irvine can indefinitely maintain a state of insulated isolationalism that will make it immune to the prolonged economic s**t-hitting-the-fan in neighboring cities (or the County/Region/State). We’ve sadly reached a point (vis a vis the Tea Party non-rental voting, pension wars, etc) where Californians seem to be cannibalizing each other. It’s very unfortunate and super counter-productive to climbing out the current pit in which we’ve found ourselves, IMHO. I hope for prosperity for Irvine, but think it’s inevitable that the pain will spread. How could it not?

Astute Observation by Roger Anderson
2011-03-05 03:20 PM

More than half the voters in America don’t have a clue who they are voting for.  Look who we have for a president; no one in their right mind should have voted for this clown.  We might get a little better chance of electing capitalistic congressmen, senators and especially a president, if we limited the voters to those folks who owned raw land, a mobile home, a condo, a townhome or a single family home. 

The real reason that I am for the idea, is that it would help the real estate industry.  “WANT TO VOTE, THEN BUY A HOUSE.”

Astute Observation by ripcord
2011-03-05 06:02 PM

So, Roger, anyone who doesn’t agree with you “isn’t in their right mind”?  Good debating technique.  Actually I think you were being satirical.  Good show.

Carl

Astute Observation by Roger Anderson
2011-03-05 07:24 PM

Who am I debating?  I want people to buy houses.  There is no way we will go back to the standards of 1791 and require landownership, that is the satirical sentence.  It was meant to be slightly funny and explain the desperation of some realtors.

Numerous demographers have proven that:
25% of the voters are Conservative
25% of the voters are liberal
50% of the voters are independent and vote for the flavor of the month.  In this case, America voted out of guilt (slavery) and political correctness (vote for the negro guy, it’s time). 

This 50% group oftentimes votes by what the extreme radical left main stream media tells them to, or they vote for the best TV ad.  democrats are much better at lying than Republicans are and that is why there are so many democrat politicians.  they have far better ad agencies.

Let’s face it, the president is a marxist, nearly all of his mentors were marxists, nearly all of his czars are marxists, none of whom was vetted, some are really extreme like van jones who is a card carrying communist.  There are others still at the white house who are just as radical.  See RADICAL RULERS.

I am not debating anyone, I am just pointing out some serious concerns for our Country.  I just wish that all Irvine Renters would become Real Estate owners and help out the economy a little bit and also help turn around the double dip.

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