Real Property Check

Real Estate Reality Check™ - Building Wealth in Real Estate

  • Buying
  • Selling
  • Financing
  • Investing
  • The Economy
Stockton, Mammoth Lakes & San Bernardino file for bankruptcy

realpropertycheck.com July 18, 2021

Stockton, Mammoth Lakes & San Bernardino file for bankruptcy

According to data made recently available by Trulia.com we still haven’t reached the bottom of the mess. In real estate there is still no recovery  in sight, because many of our country’s largest cities are still struggling with weak demand, high foreclosure rates and maybe worst of all, negative equity is spreading like a wild-fire .

Most of the trouble concerns–the state next door–California, because in the good times expenses tends to let budgets balloon and in today’s leaner times, there is little political will to make the necessary cuts.

Licensing: Wikimedia Commons, Wikipedia.org

And while California as a state has (not) been ‘dealing’ with a looming bankruptcy for quite some time by just dodging it.

Living on the edge seems to be the ‘new normal’ and many Californians just seem shrug the impending doom and gloom off. But apparently kicking the can down the road is obviously not a sure-fire concept to handle the situation as Stockton, Mammoth Lakes and San Bernardino have shown. These three cities have one fate in common, they are now all bankrupt.

Stockton is located in the Central Valley; Mammoth Lakes is close to the Yosemite and the Sierras landmark; and San Bernardino, is in the sprawling Inland Empire–locally know as the I.E.–which is just east of Los Angeles.

Municipal bankruptcies used to be extremely rare, but that’s no longer the case and in states like California the bureaucratic  red tape has grown so rapidly, that cutting back is easy to advocate, but very hard to implement. Republican Governors like Arnold Schwarzenegger and Democratic counterparts like Jerry Brown had to recognize that cutting back the expenses to a sustainable level is a rather sisyphean task.

And–according to Huffington Post–the next bankruptcy is just looming around the corner: Compton, CA has to decide until September 1st whether it needs to file for bankruptcy.

Filed Under: The Economy Tagged With: bankruptcy, featured

‘Overbid Madness’ Strikes San Francisco Real Estate Market

realpropertycheck.com May 4, 2021

‘Overbid Madness’ Strikes San Francisco Real Estate Market

Silicon Valley companies cause the San Francisco real estate market to go up.

Apple and Google use public bus stops to shuttle around their employees in San Francsico and elsewhere. It’s not just the fact that they use public bus stops, but most of all they are a sign of inflated real estate prices.

Realtors keep talking about an “overbid maddness” and cite an example where an elegant house in Bosworth sells for $600,000 above the asking price. In the Glen Park neighborhood a beautiful house even sold for mind-boggling $2.1 million.

Obviously, real estate follows the law of supply and demand. IT folks from Silicon Valley keep pushing prices up, up, up.

Filed Under: Buying Tagged With: Apple, featured, Google, Oakland, San Francisco

Crowdsourcing Neighborhood Information with Google Map Maker Debuts in the U.S.

realpropertycheck.com April 20, 2021

Crowdsourcing Neighborhood Information with Google Map Maker Debuts in the U.S.

Google announced it is letting users update Google Maps and Google Earth information in the U.S. through Google Map Maker, the crowdsourced mapping tool for publicizing neighborhood information. Google, however, won’t take input from other community map sources, such as Open Street Map or Waze.

Google’s map editing features will allow the addition of commercial data such as businesses locations and more specific street information such as temporary closures due to construction projects. You can add places as well as draw lines and shapes depicting railroads, back alleys or parking lots.

Users’ updates undergo a vetting process coordinated by previously accredited users. Moderators can approve or reject edits or send them back for a revision. Users’ participation earns them karma which counts towards acquiring the status of a moderator.

So far, Google Maps offers no support for mapping locations such as stores or businesses which are layered on top of one another. 3D features are clearly something Google cannot postpone indefinitely.

For now, Google has added street-level perspective with embedded images from Street View.

Google Map Maker is a tool real estate professionals in this country should keep a watchful eye on. You can check it out for yourself right here.

Filed Under: Apps Tagged With: Google Map Maker, location

  • « Previous Page
  • 1
  • 2
  • 3
  • 4
  • 5
  • …
  • 17
  • Next Page »

Categories

  • Apps (3)
  • Books (3)
  • Buying (25)
  • Financing (21)
  • Homeowners' Club (20)
  • Investing (24)
  • Other Stuff (9)
  • Selling (14)
  • The Economy (18)

Tags

bankruptcy building wealth in real estate code violations commercial real estate contingency clause deed deed in lieu of foreclosure delinquent loans double-dip Fannie Mae featured FHA foreclosure foreclosures Frank-Dodd bill Freddie Mac GNMA GSEs HAMP HARP home prices homestead IRS junior lien lease option lien loan modifications lot number mortgage mortgage originator no-docs loans notice of commencement phantom profits REO residential robo-signing Robo Gate second liens second mortgage seller financing taxes title company title insurance unsold inventory Zillow

Tags

bankruptcy building wealth in real estate code violations commercial real estate contingency clause deed deed in lieu of foreclosure delinquent loans double-dip Fannie Mae featured FHA foreclosure foreclosures Frank-Dodd bill Freddie Mac GNMA GSEs HAMP HARP home prices homestead IRS junior lien lease option lien loan modifications lot number mortgage mortgage originator no-docs loans notice of commencement phantom profits REO residential robo-signing Robo Gate second liens second mortgage seller financing taxes title company title insurance unsold inventory Zillow

Archives

  • December 2021
  • November 2021
  • July 2021
  • May 2021
  • April 2021
  • March 2021
  • January 2021
  • November 2020
  • November 2010
  • October 2010
  • September 2010
  • August 2010

Copyright © 2023 · Streamline Pro Theme on Genesis Framework · WordPress · Log in