November 2006 Archives

Lender Owned Fixer!



General: Urban East County, 4 bedroom 1.75 bath. Asking price between $425,000 and $450,000. It might sell for that fixed up. I would offer maybe $370,000 at most.



Why you should be interested: Three words: Lender owned fixer. Furthermore, the agent is trying to play games to restrict the buyers to his favorite lender. This is illegal.



Selling Points: Lots of public space in the home due to converted garage. Also has lots of parking.



Why I think it's a potential bargain: It's lender owned, and it needs updates. Until it sells, the lender is paying taxes and has a non-performing asset.



Obvious caveats: The last sale was 100% financing in November 2004. This will obviously be a short sale. Ugly inside. Couldn't get a good look at the roof.



Why it hasn't sold already: The lender has it mispriced, hoping to recover 100% of their investment. Not. Going. To. Happen. The agent should have told them. I'm not real impressed by this agent.



If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $370,000, the property would be worth approximately $600,000. If you held it those ten years before selling, you would net about $290,000 in your pocket (not including increased value from updates!), assuming zero down payment. As opposed to renting the $2000 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $220,000 ahead of the renter, after the expenses of selling.



Fact you should be aware of: Not much of a back yard.



Obvious way to enhance value or appeal of property: Modernize the kitchens and bathrooms, get rid of the sixties paneling, replace the carpet.



This property does appear to be eligible for a first time buyer Mortgage Credit Certificate provided your family income is not more than $82,800 or $96,600. Ask me for more details, on this or any other property.



I'm a buyer's Realtor®. I find places like this that can be gotten at bargain prices. I save you money while getting paid out of the listing agent's commission, not costing you a penny. Nor are these the only ones I find. In order to protect everyone's best interests, I require a Non-Exclusive Buyer's Agent Agreement. This is a standard California Association of Realtors form that leaves you are free to work with other agents, but if I find the property you want, I'm the agent you'll use. That's fair.



Contact me: Action Realty 619-449-0723, ask for Dan or email danmelson (at) danmelson (dot) com. Ask me to find a bargain that fits you!

Huge Opportunity Fixer on a Large Lot!



General: Urban East County, 4 bedroom 1.75 bath. Asking price between $475,000 and $500,000. I'd probably offer around $430,000.



Why you should be interested: Almost 2000 square feet on a lot over a quarter of an acre in a quiet neighborhood.



Selling Points: Lots of room in the house and in the yard. It has a pool, and you almost don't notice the space it takes up!



Why I think it's a potential bargain: This thing sold for over $600,000 less than a year ago. It's vacant and needs an update, the carpet is missing, and it's generally not visually attractive inside.



Obvious caveats: There are some known issues with permits. This will obviously be a short sale.



Why it hasn't sold already: Same story, different property: The market turned and it was overpriced. Now they're desperate.



If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $430,000, the property would be worth approximately $700,000. If you held it those ten years before selling, you would net about $340,000 in your pocket, assuming zero down payment. As opposed to renting the $2000 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $200,000 ahead of the renter, after the expenses of selling.



Fact you should be aware of: I saw one roof tile that might be coming up, but the rest looks ok.



Obvious way to enhance value or appeal of property: Put in carpet, update the kitchen and bath, clean up the yard, refill the pool and put a fence around it.



This property does appear to be eligible for a first time buyer Mortgage Credit Certificate provided your family income is not more than $82,800 or $96,600. Ask me for more details, on this or any other property.



I'm a buyer's Realtor®. I find places like this that can be gotten at bargain prices. I save you money while getting paid out of the listing agent's commission, not costing you a penny. Nor are these the only ones I find. In order to protect everyone's best interests, I require a Non-Exclusive Buyer's Agent Agreement. This is a standard California Association of Realtors form that leaves you are free to work with other agents, but if I find the property you want, I'm the agent you'll use. That's fair.



Contact me: Action Realty 619-449-0723, ask for Dan or email danmelson (at) danmelson (dot) com. Ask me to find a bargain that fits you!

An email I got Tuesday November 28, 2006:



My husband and I are not specifically on the market at the moment for a property but are always on the lookout for a great bargain. We have children, so school district is a big factor, but if the right place for the right price comes around, we'd definitely be interested in potentially buying a house, as we're ready to settle down. We don't mind a fixer-upper, but aren't looking to do any major, "needs a contractor" work. Our price range is under 400K, as we intend to wrap any debt into our mortgage. We both have good jobs — I work for NAME DELETED as a loan specialist and he is a DELETED — but aren't looking to kill ourselves with a mortgage payment, especially once you wrap taxes and insurance into the whole deal.



(emphasis mine)



Un-be-(censored)-lievable.



This person is a loan officer, and they're wanting to do something that is FRAUD. I mean, I know it goes on, but to be propositioned cold, via the first email I got from this person, to commit a felony (or aid in its commission, thereby making me guilty of conspiracy, another felony) just blows my mind. Admittedly, this particular company is one where you don't have to be licensed to work for them, but still, you should know the big issues like this, and perhaps at least pretend to have some respect for the law and good business practice.



My response?



You do realize that lenders don't go along with this, don't you? Purchase money loans if the purchase price is $400k and the seller gives you back 20k to pay off your debts, the effective purchase price is $380,000 - not $400,000. If you don't conceal it the loan doesn't work. If you do conceal it, it's fraud.



I could use the business. But not so badly as to get involved in this.



No thank you.







Her response?



I may have misrepresented myself and my goals to you. Don't be so quick to judge.





Oh, so now instead of soliciting my cooperation in felony fraud, she's committing entrapment. And I'm supposed to think this is better.



Ladies and Gentlemen, I have a firm policy here of not naming specific malefactor companies or individuals (unless they pop up and name themselves!). Telling people how bad any one company in particular may be is beside the point of this website. I'm trying to make a living, and also give people the tools to use to judge as to whether or not they are being lied to, abused, etcetera in their specific instance - what people can do to prevent it, what they can do to improve their situation, what they should do if all the other tools fail and everything falls apart.



However, this one particular company represented by the alleged person in question is one on whom I have extensive amounts of evidence as to how bad their rates are, how misleading their business practices are, how badly they low ball their quotes, and in general, how shoddily they treat the customers that put money in their pocket. If I was going to list the two companies in the mortgage industry that (in my honest opinion) everyone should stay away from, this company would be on that list.



So it is very tempting to name names publicly, just this once. However, the lawyers would then get involved to no particularly good effect for anyone, and this very large company has a lot more resources than I do. Furthermore, I suspect, although I cannot prove, that I might be hurting a very few good loan officers who happen to work for this company in addition to all of the bad ones - and there are a lot of the bad ones working for this company. Finally, as I explained above, the point if this site is not revenge, and it's not punishing evildoers. I am not the Count of Monte Cristo, nor am I a law officer, a prosecutor, or a judge. I'm a loan officer and a Realtor® who is also trying to give people real tools to judge their situations and achieve a better result. So if you are reading this, back off. I will not name names unless you force me to. But solicitations of fraud, and entrapment, from people who should know better and go out of their way to be jerks, really pisses me off, and if you want to force my hand, I really won't regret it very much. I guarantee it will hurt you a lot worse than it will hurt me. Instead of trying to entrap me into a felony, just go away and pretend I don't exist. The type of suckers who are your bread and butter don't read this website anyway, or they sure as heck wouldn't patronize your company!

Owners Can't Afford This Great Family Home!



General: Urban East County, 3 bedroom 1.75 bath. Asking price between $425,000 and $450,000. I'd probably offer around $410,000.



Why you should be interested: 1600 square foot home in a nice quiet neighborhood with good public schools.



Selling Points: Large extra room for entertaining or parties, and another extra room in the partially converted garage.



Why I think it's a potential bargain: It's vacant and needs an update. Kitchen looks like something out of the sixties, and there's ugly paneling around the public areas. This thing was originally way overpriced, and now the folks are desperate and need to sell.



Obvious caveats: The extra room in the garage looks like it has the elements for a legal fourth bedroom, but it doesn't look like it's permitted in county records. Roof looks like it might need replacing in a few years.



Why it hasn't sold already: It was overpriced until they dropped the price. Now they're desperate.



If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $410,000, the property would be worth approximately $660,000. If you held it those ten years before selling, you would net about $320,000 in your pocket, assuming zero down payment. As opposed to renting the $2000 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $210,000 ahead of the renter, after the expenses of selling.



Fact you should be aware of: Most of the back yard has been used for the addition. May be issues with permits for the garage conversion.



Obvious way to enhance value or appeal of property: Update the kitchen!



This property does not appear to be eligible for a first time buyer Mortgage Credit Certificate provided your family income is not more than $82,800 or $96,600. Ask me for more details, on this or any other property.



I'm a buyer's Realtor®. I find places like this that can be gotten at bargain prices. I save you money while getting paid out of the listing agent's commission, not costing you a penny. Nor are these the only ones I find. In order to protect everyone's best interests, I require a Non-Exclusive Buyer's Agent Agreement. This is a standard California Association of Realtors form that leaves you are free to work with other agents, but if I find the property you want, I'm the agent you'll use. That's fair.



Contact me: Action Realty 619-449-0723, ask for Dan or email danmelson (at) danmelson (dot) com. Ask me to find a bargain that fits you!

The Best Loan Right NOW



5.5% 30 Year fixed rate loan, 1.8 total points, and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $2272, APR 5.705! This is not an Option ARM! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate loans as low as 5.5%!



5/1 ARM loans available as low as 5.25%, and 10/1 ARMs as low as 5.00! This is not an Option ARM! This is a real loan with a real payment that actually pays your loan down, and the rate is fixed for five years - ten for the 10/1!



These are actual retail rates at actual costs available to real people!



All of the above loans are on approved credit, not all borrowers will qualify, based upon an 80% loan to value and a 720 credit score on a full documentation loan. Rates subject to change until rate lock.



I always guarantee the loan type, rate, and total cost as soon as I have enough information from you to lock the loan (subject to underwriting approval of the loan). I pay any difference, not you. If your loan provider doesn't do this, you need a new loan provider!



Interest only, stated income, bad credit and other options also available. If you need a mortgage, chances are I can do it faster and on better terms than you'll actually get from anyone else in the business.



100% financing a specialty.



Please ask me about first time buyer programs, including the Mortgage Credit Certificate, which gives you a tax credit for mortgage interest, and can be combined with either of the above loans!



Call me. EZ Home Loans at 619-449-0070, ask for Dan. Or email me: danmelson (at) danmelson (dot) com

Light Posting Week

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Thanksgiving Week traffic is traditionally sparse, and this week my six year old is off school, so expect light posting.

The Best Loan Right NOW



5.625% 30 Year fixed rate loan, 1.5 total points, and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $2303, APR 5.803! This is not an Option ARM! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate loans as low as 5.5%!



5/1 ARM loans available as low as 5.25%! This is not an Option ARM! This is a real loan with a real payment that actually pays your loan down, and the rate is fixed for five years!



These are actual retail rates at actual costs available to real people!



All of the above loans are on approved credit, not all borrowers will qualify, based upon an 80% loan to value and a 720 credit score on a full documentation loan. Rates subject to change until rate lock.



I always guarantee the loan type, rate, and total cost as soon as I have enough information from you to lock the loan (subject to underwriting approval of the loan). I pay any difference, not you. If your loan provider doesn't do this, you need a new loan provider!



Interest only, stated income, bad credit and other options also available. If you need a mortgage, chances are I can do it faster and on better terms than you'll actually get from anyone else in the business.



100% financing a specialty.



Please ask me about first time buyer programs, including the Mortgage Credit Certificate, which gives you a tax credit for mortgage interest, and can be combined with either of the above loans!



Call me. EZ Home Loans at 619-449-0070, ask for Dan. Or email me: danmelson (at) danmelson (dot) com

Clean, Solid Spacious Family Home



General: Urban East County, 3 bedroom 1.75 bath. Asking price between $400,000 and $425,000, and I think it's priced right. I'd probably offer around $380,000.



Why you should be interested: 1600 square foot home in a nice quiet neighborhood with good public schools.



Selling Points: Floors are hardwood and tile, nice private back yard with covered patio, nicely updated, garage partially converted by still has one car capacity, has an extra room for an office. Irrigation system for the lawn. Just a nice home.



Why I think it's a potential bargain: It's vacant, and has been on the market over a year. Originally overpriced, it looks like a flipper got caught short and needs to sell, and this isn't a good time of year for it.



Obvious caveats: Kitchen could use an update - it might be original (late 50s).



Why it hasn't sold already: It was overpriced until they dropped the price this week. In aggregate, they've reduced it almost $175,000 from when it was first listed.



If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $380,000, the property would be worth approximately $620,000. If you held it those ten years before selling, you would net about $390,000 in your pocket, assuming zero down payment. As opposed to renting the $1900 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $180,000 ahead of the renter, after the expenses of selling.



Fact you should be aware of: closets may be smaller than ou're used to.



Obvious way to enhance value or appeal of property: I'd update the kitchen. I'd probably also undo the partial garage conversion.



This property does appear to be eligible for a first time buyer Mortgage Credit Certificate provided your family income is not more than $82,800 or $96,600. Ask me for more details, on this or any other property.



I'm a buyer's Realtor®. I find places like this that can be gotten at bargain prices. I save you money while getting paid out of the listing agent's commission, not costing you a penny. Nor are these the only ones I find. In order to protect everyone's best interests, I require a Non-Exclusive Buyer's Agent Agreement. This is a standard California Association of Realtors form that leaves you are free to work with other agents, but if I find the property you want, I'm the agent you'll use. That's fair.



Contact me: Action Realty 619-449-0723, ask for Dan or email danmelson (at) danmelson (dot) com. Ask me to find a bargain that fits you!

This site has been featured in the San Diego Reader's Blog Diego



When You Should Not Buy Real Estate



Thank You to the Reader!

Nice 3 Bedroom Condo with Office and Garage!



General: Urban East County, 3 bedroom 1.75 bath. Asking price between $400,000 and $425,000. I'd probably offer around $380,000.



Why you should be interested: Nice townhome with only one shared wall and an office area, nice high cielings, modern kitchen, and laundry in the garage. All of this less than 10 minutes from Mission Valley! This appears to be an estate sale!



Selling Points: Newly remodeled! 3 bedroom townhome, only one shared wall! You could use the office for a fourth bedroom! Did I mention excellent schools?



Why I think it's a potential bargain: It's vacant, appears to be an estate sale, the mortgage is small, and it's the wrong time of year for sellers.



Obvious caveats: None that I could see.



Why it hasn't sold already: Good Question. I don't have a good answer.



If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $380,000, the property would be worth approximately $620,000. If you held it those ten years before selling, you would net about $300,000 in your pocket, assuming zero down payment. As opposed to renting the $1700 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $90,000 ahead of the renter, after the expenses of selling.



Fact you should be aware of: Part of a fairly large complex.



Obvious way to enhance value or appeal of property: None that I can see - the work has been done already.



This property does not appear to be eligible for a first time buyer Mortgage Credit Certificate provided your family income is not more than $82,800 or $96,600. Ask me for more details, on this or any other property.



I'm a buyer's Realtor®. I find places like this that can be gotten at bargain prices. I save you money while getting paid out of the listing agent's commission, not costing you a penny. Nor are these the only ones I find. In order to protect everyone's best interests, I require a Non-Exclusive Buyer's Agent Agreement. This is a standard California Association of Realtors form that leaves you are free to work with other agents, but if I find the property you want, I'm the agent you'll use. That's fair.



Contact me: Action Realty 619-449-0723, ask for Dan or email danmelson (at) danmelson (dot) com. Ask me to find a bargain that fits you!

Older House on a Large Lot with a Great View!



General: Urban East County, 3 bedroom 1 bath. Asking price between $425,000 and $450,000. I'd probably offer something close to $390,000.



Why you should be interested: Decent house on more than a quarter of an acre in an urban area, and close to the freeways, too.



Selling Points: Great view of the area, mature trees in the yard, and plenty of room on the lot. Expansion of the house is a real possibility. New windows throughout. Nice and quiet inside.



Why I think it's a potential bargain: 1) vacant 2) kitchen's a fixer 3) only 1 bathroom right now, but there's lots of room for additions. 4) Back yard is cluttered.



Obvious caveats: 1) I found some dead termites 2) Place needs updating



Why it hasn't sold already: Kitchen and bathroom put most folks off, and the mess in the back yard finishes off the ones that last through that.



If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $390,000, the property would be worth approximately $630,000. If you held it those ten years before selling, you would net about $300,000 in your pocket, assuming zero down payment. As opposed to renting the $1600 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $110,000 ahead of the renter, after the expenses of selling.



Fact you should be aware of: Like I said, I found some dead termites, so you really want an inspector.



Obvious way to enhance value or appeal of property: Update the kitchen and bathroom, add another bathroom, clean up the back yard.



This property does appear to be eligible for a first time buyer Mortgage Credit Certificate provided your family income is not more than $82,800 or $96,600. Ask me for more details, on this or any other property.



I'm a buyer's Realtor®. I find places like this that can be gotten at bargain prices. I save you money while getting paid out of the listing agent's commission, not costing you a penny. Nor are these the only ones I find. In order to protect everyone's best interests, I require a Non-Exclusive Buyer's Agent Agreement. This is a standard California Association of Realtors form that leaves you are free to work with other agents, but if I find the property you want, I'm the agent you'll use. That's fair.



Contact me: Action Realty 619-449-0723, ask for Dan or email danmelson (at) danmelson (dot) com. Ask me to find a bargain that fits you!

Forced Sale in Great Area with Huge Yard!



General: Urban East County, 4 bedroom 1.75 bath. Asking price between $425,000 and $450,000. I'd probably offer something close to $410,000.



Why you should be interested: Four bedroom house 10 minutes from Mission Valley at an affordable price and that goes to some of the best schools in the county.



Selling Points: Hardwood floors, huge back yard for the kids to play in, feels roomy.



Why I think it's a potential bargain: These folks have to sell, and in the mean time it is sitting vacant. Bad time of year for sellers, but great for the buyers who will get off the sidelines!



Obvious caveats: Older home, could use some updates. Floor in one bathroom is visibly uneven. Roof probably going to need to be done soon.



Why it hasn't sold already: Those updates and that work put most buyers off. Do it, and the property will be worth more.



If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $410,000, the property would be worth approximately $660,000. If you held it those ten years before selling, you would net about $320,000 in your pocket, assuming zero down payment. As opposed to renting the $1900 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $170,000 ahead of the renter, after the expenses of selling.



Fact you should be aware of: Older home, like I said.



Obvious way to enhance value or appeal of property: Update the fixtures and even out that bathroom floor.



This property does not appear to be eligible for a first time buyer Mortgage Credit Certificate provided your family income is not more than $82,800 or $96,600. Ask me for more details, on this or any other property.



I'm a buyer's Realtor®. I find places like this that can be gotten at bargain prices. I save you money while getting paid out of the listing agent's commission, not costing you a penny. Nor are these the only ones I find. In order to protect everyone's best interests, I require a Non-Exclusive Buyer's Agent Agreement. This is a standard California Association of Realtors form that leaves you are free to work with other agents, but if I find the property you want, I'm the agent you'll use. That's fair.



Contact me: Action Realty 619-449-0723, ask for Dan or email danmelson (at) danmelson (dot) com. Ask me to find a bargain that fits you!

The Best Loan Right NOW



5.625% 30 Year fixed rate loan, 1.75 total points, and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $2302, APR 5.827! This is not an Option ARM! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate loans as low as 5.5%!



5/1 ARM loans available as low as 5.25%! This is not an Option ARM! This is a real loan with a real payment that actually pays your loan down, and the rate is fixed for five years!



These are actual retail rates at actual costs available to real people!



All of the above loans are on approved credit, not all borrowers will qualify, based upon an 80% loan to value and a 720 credit score on a full documentation loan. Rates subject to change until rate lock.



I always guarantee the loan type, rate, and total cost as soon as I have enough information from you to lock the loan (subject to underwriting approval of the loan). I pay any difference, not you. If your loan provider doesn't do this, you need a new loan provider!



Interest only, stated income, bad credit and other options also available. If you need a mortgage, chances are I can do it faster and on better terms than you'll actually get from anyone else in the business.



100% financing a specialty.



Please ask me about first time buyer programs, including the Mortgage Credit Certificate, which gives you a tax credit for mortgage interest, and can be combined with either of the above loans!



Call me. EZ Home Loans at 619-449-0070, ask for Dan. Or email me: danmelson (at) danmelson (dot) com

Project VALOUR IT

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I know I'm behind the power curve in posting this. I put Team Navy on my other site, San Diego having large groups of both.



This will stay on top until Veterans Day. Scroll down for new posts.



Explanation here





Every cent raised for Project Valour-IT goes directly to the purchase and shipment of voice-activated laptops for wounded servicemembers. As of October 2006, Valour-IT has distributed nearly 600 laptops to severely wounded Soldiers, Sailors, Airmen and Marines across the country.



During its initial phase, Valour-IT created "libraries" of laptops equipped with voice-controlled software for the severely wounded staying at major military medical centers. In many cases a laptop was provided to a wounded hero for permanent use.



Valour-IT is continuing to accept donations of any amount to supply the "libraries" of laptops at major medical centers and gifts to individuals, but has also added the option of an individual or organization directly sponsoring a wounded soldier by completely funding the cost of a laptop and continuing to provide him or her with personal support and encouragement throughout recovery. This has proved to be an excellent project for churches, groups of coworkers or friends, and members of community organizations such Boy Scouts.



Most recently thanks to the efforts of the Military Order of the Purple Heart, Valour-IT is now able to reach personnel in VA hospitals who would benefit from a Valour-IT laptop.



Wounded military personnel can request a laptop through the sign-up form if they are recovering at home or in military hospitals, or through the Valour-IT/Soldiers' Angels representatives if they are patients at the following medical centers:



Balboa Naval Hospital



Brooke Army Medical Center



Madigan Regional Medical Center



National Naval Medical Center (Bethesda Naval Hospital)



Naval Hospital, Camp Pendleton



Robert E. Bush Naval Hospital (29 Palms)



Walter Reed Army Medical Center





Prevent this shame from happening to us:



The Last of the Light Brigade






There were thirty million English who talked of England's might,

There were twenty broken troopers who lacked a bed for the night.

They had neither food nor money, they had neither service nor trade;

They were only shiftless soldiers, the last of the Light Brigade.



They felt that life was fleeting; they knew not that art was long,

That though they were dying of famine, they lived in deathless song.

They asked for a little money to keep the wolf from the door;

And the thirty million English sent twenty pounds and four!



They laid their heads together that were scarred and lined and grey;

Keen were the Russian sabres, but want was keener than they;

And an old Troop-Sergeant muttered, "Let us go to the man who writes

The things on Balaclava the kiddies at school recites."



They went without bands or colours, a regiment ten-file strong,

To look for the Master-singer who had crowned them all in his song;

And, waiting his servant's order, by the garden gate they stayed,

A desolate little cluster, the last of the Light Brigade.



They strove to stand to attention, to straighten the toil-bowed back;

They drilled on an empty stomach, the loose-knit files fell slack;

With stooping of weary shoulders, in garments tattered and frayed,

They shambled into his presence, the last of the Light Brigade.



The old Troop-Sergeant was spokesman, and "Beggin' your pardon," he said,

"You wrote o' the Light Brigade, sir. Here's all that isn't dead.

An' it's all come true what you wrote, sir, regardin' the mouth of hell;

For we're all of us nigh to the workhouse, an, we thought we'd call an' tell.



"No, thank you, we don't want food, sir; but couldn't you take an' write

A sort of 'to be continued' and 'see next page' o' the fight?

We think that someone has blundered, an' couldn't you tell 'em how?

You wrote we were heroes once, sir. Please, write we are starving now."



The poor little army departed, limping and lean and forlorn.

And the heart of the Master-singer grew hot with "the scorn of scorn."

And he wrote for them wonderful verses that swept the land like flame,

Till the fatted souls of the English were scourged with the thing called Shame.



O thirty million English that babble of England's might,

Behold there are twenty heroes who lack their food to-night;

Our children's children are lisping to "honour the charge they made-"

And we leave to the streets and the workhouse the charge of the Light Brigade!





Rudyard Kipling



Please help if you can.



For some reason my donation button isn't showing. Until it's fixed, you can go here and hit the make a donation button.

Lender Owned Listing Getting Close to Deadlines!



General: Urban East County, 3 bedroom 1 bath, optional fourth bedroom or office. Asking price between $375,000 and $400,000. I'd probably offer something close to $350,000.



Why you should be interested: Three bedroom house 15 minutes from Mission Valley at an affordable price. Minor fixer.



Selling Points: Mature yard needs work, but it's nicer inside than out.



Why I think it's a potential bargain: This is a lender owned property about to expire off the MLS. Any kind of decent offer is going to have the listing agent on our side, and the lender is starting to come up against regulatory deadlines.



Obvious caveats: Traffic noise, and I found some small cracks in the stucco.



Why it hasn't sold already: The yard hasn't been looked after in some time, and yards like this need at least some care. Big visual push away.



If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $350,000, the property would be worth approximately $570,000. If you held it those ten years before selling, you would net about $270,000 in your pocket, assuming zero down payment. As opposed to renting the $1600 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $130,000 ahead of the renter, after the expenses of selling.



Fact you should be aware of: Traffic noise in the yard.



Obvious way to enhance value or appeal of property: Clean up the yard and update the fixtures. Water the lawn.



This property does appear to be eligible for a first time buyer Mortgage Credit Certificate provided your family income is not more than $82,800 or $96,600. Ask me for more details, on this or any other property.



I'm a buyer's Realtor®. I find places like this that can be gotten at bargain prices. I save you money while getting paid out of the listing agent's commission, not costing you a penny. Nor are these the only ones I find. In order to protect everyone's best interests, I require a Non-Exclusive Buyer's Agent Agreement. This is a standard California Association of Realtors form that leaves you are free to work with other agents, but if I find the property you want, I'm the agent you'll use. That's fair.



Contact me: Action Realty 619-449-0723, ask for Dan or email danmelson (at) danmelson (dot) com. Ask me to find a bargain that fits you!

Ugly Fixer with Potential



General: Urban East County, 3 bedroom 1 bath, with pool. Asking price between $425,000 and $450,000. I'd probably offer $340,000.



Why you should be interested: Three bedroom house close to the freeway at an affordable price. This is a fixer.



Selling Points: It's got a pool and a deep garage plus loads of parking.



Why I think it's a potential bargain: This place is ugly, and cluttered on the inside. If the average buyer goes to look, they'll turn around as soon as they open the door. However, I don't think it'll cost much to fix, and these people have had it on the market - overpriced - for months. We're coming up on the holidays, and these folks need to sell.



Obvious caveats: I smelled gas in the garage, and couldn't get a good look at the roof.



Why it hasn't sold already: It's not attractive. Your average buyer is going to turn around and leave. No offers made yet.



If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $340,000, the property would be worth approximately $550,000. If you held it those ten years before selling, you would net about $260,000 in your pocket, assuming zero down payment. As opposed to renting the $1800 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $130,000 ahead of the renter, after the expenses of selling.



Fact you should be aware of: Traffic noise in the back yard.



Obvious way to enhance value or appeal of property: Clean it up and update the fixtures. Clean the pool. Water the lawn.



This property does appear to be eligible for a first time buyer Mortgage Credit Certificate provided your family income is not more than $82,800 or $96,600. Ask me for more details, on this or any other property.



I'm a buyer's Realtor®. I find places like this that can be gotten at bargain prices. I save you money while getting paid out of the listing agent's commission, not costing you a penny. Nor are these the only ones I find. In order to protect everyone's best interests, I require a Non-Exclusive Buyer's Agent Agreement. This is a standard California Association of Realtors form that leaves you are free to work with other agents, but if I find the property you want, I'm the agent you'll use. That's fair.



Contact me: Action Realty 619-449-0723, ask for Dan or email danmelson (at) danmelson (dot) com. Ask me to find a bargain that fits you!

Nice Home in the Middle of the City!



General: Central San Diego, 2 bedroom 1.75 bath. Asking price between $450,000 and $475,000. I'd probably offer $390,000 to start with.



Why you should be interested: This is a very appealing home in a good neighborhood. This street has many more expensive homes. It would be easy to make it into a 3 or possibly even 4 bedroom home with another bathroom.



Selling Points: The Back yard is great for entertaining, almost a garden. Large lot goes up towards the top of the hill, and is quite lush.



Why I think it's a potential bargain: These folks are marketing it as a 3 bedroom home, which it would be easy to make it into, but it is not legally a 3 bedroom home, so nobody is going to pay a 3 bedroom price for it. Vacant and on the market for months already, and we're entering a slow time of year to move real estate. If they're smart they'll sell to anything close.



Obvious caveats: I didn't see any. The property is well kept.



Why it hasn't sold already: They are asking a 3 bedroom price for a 2 bedroom home. If they want a 3 bedroom price, they need to spend the money to modify it.



If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $390,000 (It would be worth about $460,000 if you made it into a 3 bedroom), the property would be worth approximately $630,000. If you held it those ten years before selling, you would net about $300,000 in your pocket, assuming zero down payment. As opposed to renting the $1800 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $150,000 ahead of the renter, after the expenses of selling.



Fact you should be aware of: Street in front is moderately busy. Not a main street, but people use it to get through the neighborhood.



Obvious way to enhance value or appeal of property: Do the small amount of work to make that third bedroom legal. If you're feeling energetic, get the permits to make the enclosed patio into a fourth bedroom with its own bath, or an office.



This property does appear to be eligible for a first time buyer Mortgage Credit Certificate provided your family income is not more than $82,800 or $96,600. However, the City of San Diego does not currently have any moderate income funding for their program. Ask me for more details, on this or any other property.



I'm a buyer's Realtor®. I find places like this that can be gotten at bargain prices. I save you money while getting paid out of the listing agent's commission, not costing you a penny. Nor are these the only ones I find. In order to protect everyone's best interests, I require a Non-Exclusive Buyer's Agent Agreement. This is a standard California Association of Realtors form that leaves you are free to work with other agents, but if I find the property you want, I'm the agent you'll use. That's fair.



Contact me: Action Realty 619-449-0723, ask for Dan or email danmelson (at) danmelson (dot) com. Ask me to find a bargain that fits you!

Probate Sale Opportunity!



General: Urban East County, 3 bedroom 1.75 bath. Asking price between $375,000 and $400,000. I'd probably offer $340,000 to start with.



Why you should be interested: This is a 3 Bedroom Home in an established neighborhood. The owner died and it's vacant. The heirs want money, but they have to pay to keep it going.



Selling Points: The neighborhood and the schools.



Why I think it's a potential bargain: Vacant on on the market for months, and we're entering a slow time of year to move real estate. Nor is it visually appealing, so most buyers are not interested. Basically, the odds are stacked against them getting a better offer.



Obvious caveats: The whole house needs modernizing.



Why it hasn't sold already: Because the owners are asking too much money, people who are likely to make a good offer won't even go look.



If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $340,000, the property would be worth approximately $550,000. If you held it those ten years before selling, you would net about $260,000 in your pocket, assuming zero down payment. As opposed to renting the $1500 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $110,000 ahead of the renter, after the expenses of selling.



Fact you should be aware of: Needs work before it's going to be visually appealing. Roof may need replacing soon.



Obvious way to enhance value or appeal of property: Update the fixtures, pit in new carpet, rip out the aging paneling and paint the inside. If the owners did this, it might be worth what they're asking or maybe a little more. Since they won't, it creates an opportunity for you.



This property does appear to be eligible for a first time buyer Mortgage Credit Certificate provided your family income is not more than $82,800 or $96,600. Ask me for more details, on this or any other property.



I'm a buyer's Realtor®. I find places like this that can be gotten at bargain prices. I save you money while getting paid out of the listing agent's commission, not costing you a penny. Nor are these the only ones I find. In order to protect everyone's best interests, I require a Non-Exclusive Buyer's Agent Agreement. This is a standard California Association of Realtors form that leaves you are free to work with other agents, but if I find the property you want, I'm the agent you'll use. That's fair.



Contact me: Action Realty 619-449-0723, ask for Dan or email danmelson (at) danmelson (dot) com. Ask me to find a bargain that fits you!

Detached Party Room in A Great Neighborhood!



General: Urban East County, 3 bedroom 1.75 bath. Asking price between $425,000 and $450,000. I'd probably offer $390,000 to start with.



Why you should be interested: This is a very appealing home in a great older neighborhood with fantastic schools nearby. This street has many more expensive homes.



Selling Points: The Back yard is great for entertaining, almost a garden. It also has a detached room that could be used for dance practice, as a martial arts practice area, or just for entertaining.



Why I think it's a potential bargain: Vacant on on the market for a while, and we're entering a slow time of year to move real estate. If they're smart they'll sell to anything close.



Obvious caveats: New Condos behind the property.



Why it hasn't sold already: I do not know. It's priced $30,000 less than a comparable property in not as good condition.



If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $390,000, the property would be worth approximately $630,000. If you held it those ten years before selling, you would net about $300,000 in your pocket, assuming zero down payment. As opposed to renting the $1500 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $130,000 ahead of the renter, after the expenses of selling.



Fact you should be aware of: New condos overlook the back yard



Obvious way to enhance value or appeal of property: Update the fixtures, buff the hardwood floors, maybe convert the detached room into a granny flat.



This property does not appear to be eligible for a first time buyer Mortgage Credit Certificate provided your family income is not more than $82,800 or $96,600. Ask me for more details, on this or any other property.



I'm a buyer's Realtor®. I find places like this that can be gotten at bargain prices. I save you money while getting paid out of the listing agent's commission, not costing you a penny. Nor are these the only ones I find. In order to protect everyone's best interests, I require a Non-Exclusive Buyer's Agent Agreement. This is a standard California Association of Realtors form that leaves you are free to work with other agents, but if I find the property you want, I'm the agent you'll use. That's fair.



Contact me: Action Realty 619-449-0723, ask for Dan or email danmelson (at) danmelson (dot) com. Ask me to find a bargain that fits you!

The Best Loan Right NOW



5.875 30 Year fixed rate loan, 1.375 total points, and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $2366, APR 6.044! This is not an Option ARM! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate loans as low as 5.625%!



5/1 ARM loans available as low as 5.375%! This is not an Option ARM! This is a real loan with a real payment that actually pays your loan down, and the rate is fixed for five years!



These are actual retail rates at actual costs available to real people!



All of the above loans are on approved credit, not all borrowers will qualify, based upon an 80% loan to value and a 720 credit score on a full documentation loan. Rates subject to change until rate lock.



I always guarantee the loan type, rate, and total cost as soon as I have enough information from you to lock the loan (subject to underwriting approval of the loan). I pay any difference, not you. If your loan provider doesn't do this, you need a new loan provider!



Interest only, stated income, bad credit and other options also available. If you need a mortgage, chances are I can do it faster and on better terms than you'll actually get from anyone else in the business.



100% financing a specialty.



Please ask me about first time buyer programs, including the Mortgage Credit Certificate, which gives you a tax credit for mortgage interest, and can be combined with either of the above loans!



Call me. EZ Home Loans at 619-449-0070, ask for Dan. Or email me: danmelson (at) danmelson (dot) com

3 Bedrooms under $300,000



General: Urban East County, 3 bedroom 1.75 bath. Asking price between $275,000 and $300,000. I'd probably offer $250,000 just to get the talks started.



Why you should be interested: 3 bedroom condo in quiet neighborhood with good schools under $300,000.



Selling Points: Nicely tiled hall and kitchen. Laundry facilities right next to the bedrooms!



Why I think it's a potential bargain: Even if you offer full asking price, there are places listing in the complex for more, that aren't as nice. Plus, the seller needs to sell for tax reasons.



Obvious caveats: There are downstairs neighbors



Why it hasn't sold already: Usual story: Overpriced initially, then realized that they really need to sell it.



If you keep it ten years and it averages only 5% annual average appreciation per year: Based upon a purchase price of $250,000, the property would be worth approximately $410,000. If you held it those ten years before selling, you would net about $195,000 in your pocket, assuming zero down payment. As opposed to renting the $1500 per month most comparable current rental and investing the difference at 10% per year tax free, you would be approximately $125,000 ahead of the renter, after the expenses of selling.



Fact you should be aware of: Units that aren't as nice are selling for more.



Obvious way to enhance value or appeal of property: See if you can cover your patio.



This property appears eligible for a first time buyer Mortgage Credit Certificate provided your family income is not more than $82,800 or $96,600. Ask me for more details, on this or any other property.



I'm a buyer's Realtor®. I find places like this that can be gotten at bargain prices. I save you money while getting paid out of the listing agent's commission, not costing you a penny. Nor are these the only ones I find. In order to protect everyone's best interests, I require a Non-Exclusive Buyer's Agent Agreement. This is a standard California Association of Realtors form that leaves you are free to work with other agents, but if I find the property you want, I'm the agent you'll use. That's fair.



Contact me: Action Realty 619-449-0723, ask for Dan or email danmelson (at) danmelson (dot) com. Ask me to find a bargain that fits you!

 



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