evicted, with finality
Quote: billryanA lot of houses are being sold to investors that are not living in them. They are looking for rental income and hoping the market will pop another 25%. Is it the majority of homes sold? No, but it is a significant minority and it's driving up the cost of housing.
That’s a fair point.
Quote: billryanA lot of houses are being sold to investors that are not living in them. They are looking for rental income and hoping the market will pop another 25%. Is it the majority of homes sold? No, but it is a significant minority and it's driving up the cost of housing.
The market here is so crazy that Zillow says that my house went up $50,000 last month. Only $29,000 so far this month.
Quote: billryanA lot of houses are being sold to investors that are not living in them. They are looking for rental income and hoping the market will pop another 25%. Is it the majority of homes sold? No, but it is a significant minority and it's driving up the cost of housing.
It's in the article. Exactly right. Thank you.
And thank you Unjon for saying it's a fair point.
Vegas is a "strange market." You think there's a lot of money here but there isnt.
Quote: DRichThe market here is so crazy that Zillow says that my house went up $50,000 last month. Only $29,000 so far this month.
Zillow is a joke. Zillow says my house is worth $100,000 more than it is. The only reliable guide to your home's value is what similar homes in your neighborhood have sold for recently. Not what they're selling for what they have sold for. That's how real estate agents value a house. They never look it up in some guide. Find out what other houses on your street have sold for recently and houses two or three streets away that are similar in square footage to yours.
A couple years ago the house across the street from me was for sale and it sold for less than half of what Zillow said it was worth. Here's what Zillow does. So you got a house worth $100,000. Then you've got two other houses really close to yours that are twice as big and sold for $300,000 each. This will raise the value of your house on Zillow to over $200,000 when it's really worth only 100,000 dollars.
Not always, especially in a drastically rising or falling market, but a good reference nonetheless.
Quote: MrVThe assessed value of a property from the county tax assessor is a fairly helpful guide to a property's value.
Not always, especially in a drastically rising or falling market, but a good reference nonetheless.
In NY, my house was assessed at $23,000. For some reason, they keep the assessed value very low, and it has hardly moved in forty years.
Quote: MrVThe assessed value of a property from the county tax assessor is a fairly helpful guide to a property's value.
40 years ago that was true. Today not so much.
Quote: billryanIn NY, my house was assessed at $23,000. For some reason, they keep the assessed value very low, and it has hardly moved in forty years.
It depends on how the property taxes are calculated. Sometimes all that matters is relative assessed value of your house to everyone else’s in the relevant tax zone. And they spread the fixed amount of taxes over the properties. If that’s how it works, the county doesn’t have much incentive to pay for a reassessment.
Assessed values in California are whacko.
I consider my house a ‘starter’ house for most, or a ‘finisher’ house for an older couple. Stunned at the price. This is suburban BUFFALO. Not a ‘hot’ real estate market.
Quote: EvenBobZillow is a joke. Zillow says my house is worth $100,000 more than it is. The only reliable guide to your home's value is what similar homes in your neighborhood have sold for recently. Not what they're selling for what they have sold for. That's how real estate agents value a house. They never look it up in some guide. Find out what other houses on your street have sold for recently and houses two or three streets away that are similar in square footage to yours.
A couple years ago the house across the street from me was for sale and it sold for less than half of what Zillow said it was worth. Here's what Zillow does. So you got a house worth $100,000. Then you've got two other houses really close to yours that are twice as big and sold for $300,000 each. This will raise the value of your house on Zillow to over $200,000 when it's really worth only 100,000 dollars.
I agree, in my neighborhood very few house have sold in the last few years. I don't know how they are actually coming up with these numbers. Fortunately I was offered $45k more than the Zillow price recently. I am assuming the Zillow may be low in my neighborhood even if the prices are jumping up crazily. Or, maybe they are jumping up crazy because they have realized they are low for the neighborhood. A realtor told me that my house should be valued about $25k higher than similar houses because I am the only one with a covered and lighted RV parking in the neighborhood. I would have never guessed that the RV parking would add that much. We will see.
Time will tell. Stations has shuttered FOUR properties and their revenue only declined 7%. That tells me they can do more with less….AND, they know it. I wonder how many other casino operators are in the same boat.
Employees are the most expensive cost and are generally the first to go if revenue and profits are the end goal.
-- Use an outfit like Pods that can store your packed items until you find your new house, and just rent in the meantime. You technically move twice, but only have to pack/unpack once. (I know, it will be hard to find a furnished rental with a yard for the dogs, but I bet there's a few out there.)
-- Have you considered a bridge loan?
4 of 9 places of business shuttered and you only lose 7% of revenue? No wonder the executives are salivating now as they invoke other cost cutting measures. No buffets. Cut comps. They will likely see a revenue stream the same with 5 properties, as before they had 9.
My guess is they will sell off the 3 remaining properties and open a new resort (Durango Station) in the coming future. They just figured out their customers will travel within Vegas….to gamble. Whether an extra 5 miles doesn’t matter.
Quote: JoemanDRich -- You may have very well already considered these options, but let me throw two out there:
-- Use an outfit like Pods that can store your packed items until you find your new house, and just rent in the meantime. You technically move twice, but only have to pack/unpack once. (I know, it will be hard to find a furnished rental with a yard for the dogs, but I bet there's a few out there.)
-- Have you considered a bridge loan?
Thanks Joeman, I have looked at PODS just for the ease of moving. I really don't want to have to rent but that may be my only choice.
Bridge loans seem to be something of the past. I have explored different options but most no longer exist. One person told me the pandemic killed them because creditors couldn't force people out of their house to recoup the money. If you know anyone that wants to loan me $200k for 60 to 90 days I would be willing to pay a high APR.
Edit: Bridge loans seem to have vanished for owner occupied properties. Apparently you can still get them for rental properties and home flips.
Las Vegas. Claiming eviction. 3 kids. The only problem? She’s not the mother of the kids. She’s the baby sitter. Her boyfriend and his ex wife are the parents…and she doesn’t even live with the boyfriend.
Vegas. Ground zero for every scam in the book. She’s feted on the news…until someone figures out what’s going on. At least the funds have been frozen and you can get your donation back. Sickening scam artists.
https://nypost.com/2021/08/10/las-vegas-mom-who-got-over-200k-in-donations-for-rent-admits-shes-just-the-sitter/
Quote: TDVegasAnd why I don’t give to “Go Fund me” campaigns.
Las Vegas. Claiming eviction. 3 kids. The only problem? She’s not the mother of the kids. She’s the baby sitter. Her boyfriend and his ex wife are the parents…and she doesn’t even live with the boyfriend.
Vegas. Ground zero for every scam in the book. She’s feted on the news…until someone figures out what’s going on. At least the funds have been frozen and you can get your donation back. Sickening scam artists.
https://nypost.com/2021/08/10/las-vegas-mom-who-got-over-200k-in-donations-for-rent-admits-shes-just-the-sitter/
Haha! That's hilarious. I wonder if anyone is going to pursue fraud charges? I think she's probably been punished enough...that's a tough spot she put herself in with the news getting ahold of her.
Look, you said it: Don't give to GoFundMe campaigns. What prevents the GoFundMe from automatically giving all the senders the money back, anyway?
In general terms, just don't donate money to people. Facebook also has these kinds of things now.
Quote: SOOPOO
I consider my house a ‘starter’ house for most, or a ‘finisher’ house for an older couple.
Save being stunned until you actually sell it and have the money. We have an old saying in the antique business that applies to any business, never count your money till it's in the pocket of your jeans.
Quote: TDVegas
Employees are the most expensive cost and are generally the first to go if revenue and profits are the end goal.
This is why Walmart is going pedal to the metal on their home delivery service for everything in their store. Their goal in the next five to seven years is to close all 4700 of their stores and get rid of most of their 1.6 million employees. They will have regional warehouses just like Amazon that will employ a small percentage of the employees that now work there. The ripple effect of this will be there will be a resurgence of the mom-and-pop businesses that Walmart put out of business.
The problem with employees is, they never get less expensive. Every year they cost a company more and more money. Robots and conveyor lines are far cheaper. I read there's a prototype Amazon warehouse in Germany that uses almost nothing but robots. That's what we will be looking at here in the near future. Massive unemployment due to our future of robotics.
Quote: TDVegasThere has been a massive infusion of Californians moving to Las Vegas.
Is this due to "white flight," i.e. whites fleeing the horde of brown people and their Spanish ways?
Quote: EvenBobSave being stunned until you actually sell it and have the money. We have an old saying in the antique business that applies to any business, never count your money till it's in the pocket of your jeans.
Sound advice. When I do sell I won’t be counting on any of the money for anything. If it sells for $400k gotta subtract at least $20k for a realtor, likely $5k for other nickel and dime expenses. Plus $5k to move all our shit down to Florida. Plus, plus, plus….
But I’ll still have way more than the $265k I paid…
Quote: MrVIs this due to "white flight," i.e. whites fleeing the horde of brown people and their Spanish ways?
My assumption is that it is purely a financial move. With no state income tax while California has high taxes, and Nevada home prices are probably less than half of most areas of California.
How high of an APR?Quote: DRichQuote: JoemanDRich -- You may have very well already considered these options, but let me throw two out there:
-- Use an outfit like Pods that can store your packed items until you find your new house, and just rent in the meantime. You technically move twice, but only have to pack/unpack once. (I know, it will be hard to find a furnished rental with a yard for the dogs, but I bet there's a few out there.)
-- Have you considered a bridge loan?
Thanks Joeman, I have looked at PODS just for the ease of moving. I really don't want to have to rent but that may be my only choice.
Bridge loans seem to be something of the past. I have explored different options but most no longer exist. One person told me the pandemic killed them because creditors couldn't force people out of their house to recoup the money. If you know anyone that wants to loan me $200k for 60 to 90 days I would be willing to pay a high APR.
Edit: Bridge loans seem to have vanished for owner occupied properties. Apparently you can still get them for rental properties and home flips.
Quote: AxelWolfHow high of an APR?
I don't know, maybe 10%.
Quote: DRichMy assumption is that it is purely a financial move.
It's a combination of things. High taxes, huge numbers of illegal immigrants, and the incredible homeless problem. People are starting to see bums crapping on the sidewalk in some residential neighborhoods now, and nobody is doing a damn thing about it.
Quote: EvenBobIt's a combination of things. High taxes, huge numbers of illegal immigrants, and the incredible homeless problem. People are starting to see bums crapping on the sidewalk in some residential neighborhoods now, and nobody is doing a damn thing about it.
I love what mayor Oscar Goodman did in Las Vegas. He bought them one way bus tickets to California. It is easy to convince people to move to California when they are sleeping on the streets of Las Vegas in the summer.
Thinking outside the box for a solution to the homeless pandemic: Soylent Green, anybody?
We'll need some new recipes though.
Give me a call.Quote: DRichI don't know, maybe 10%.
edit to add: given your views on heath, life, and whatnot perhaps some negotiation is in order. Do you even have 90 days left to live? 😁
Quote: AxelWolfGive me a call.
edit to add: given your views on heath, life, and whatnot perhaps some negotiation is in order. Do you even have 90 days left to live? 😁
Damn, you figured it out. I told my wife I was getting her $200k in life insurance. If I die she gets to keep it.
Quote: DRichI love what mayor Oscar Goodman did in Las Vegas. He bought them one way bus tickets to California. It is easy to convince people to move to California when they are sleeping on the streets of Las Vegas in the summer.
The California drivers here are brutal. I’m seeing more and more Cali plates on the roads in the residential neighborhoods and they are some of the worst drivers. From red light runners, no stopping at stop signs to never using a blinker. Speeding and talking on their cell phones is another problem. They don’t even know where they are going at times…stopping in the middle of the road. The level of common courtesy is in the garbage.
They are trying to make Las Vegas “new California.”
Quote: TDVegasThe California drivers here are brutal. I’m seeing more and more Cali plates on the roads in the residential neighborhoods and they are some of the worst drivers. From red light runners, no stopping at stop signs to never using a blinker. Speeding and talking on their cell phones is another problem. They don’t even know where they are going at times…stopping in the middle of the road. The level of common courtesy is in the garbage.
They are trying to make Las Vegas “new California.”
Maybe we should all move somewhere and make it the new Las Vegas.
Quote: Mission146Haha! That's hilarious. I wonder if anyone is going to pursue fraud charges? I think she's probably been punished enough...that's a tough spot she put herself in with the news getting ahold of her.
Look, you said it: Don't give to GoFundMe campaigns. What prevents the GoFundMe from automatically giving all the senders the money back, anyway?
In general terms, just don't donate money to people. Facebook also has these kinds of things now.
I’m pretty the funds have been frozen. If people don’t request the money back….I’m not sure what go fund me does with the money.
I guess they could give it to the real mother who says she had no idea her kids were being used like this..but frankly, I wouldn’t release a dime to anyone even remotely connected in any way. Give it to a local animal shelter.
Quote: DRichMaybe we should all move somewhere and make it the new Las Vegas.
Haha…Vegas drivers are no prize either. There’s something about the big cities and drivers. Dog eat dog. Having never lived in a big city before Vegas…I got culture shock on the roads. The drivers are rotten AND just don’t care.
Quote: TDVegasI’m pretty the funds have been frozen. If people don’t request the money back….I’m not sure what go fund me does with the money.
I guess they could give it to the real mother who says she had no idea her kids were being used like this..but frankly, I wouldn’t release a dime to anyone even remotely connected in any way. Give it to a local animal shelter.
That's what I am saying. Why do refunds have to be requested at all? Does GoFundMe not know who the donations came from?
The obvious answer, in my opinion, is that GoFundMe would lose all of the transaction fees if they simply refunded everyone who donated as a result of this scam.
Also, doesn't GoFundMe display what the donation goal for something is? How the hell would anyone ever go on there and see that this person wanted $1,900 cleared six figures, and still think they should donate to her?
ADDED: (I'm sorry that I am not thanking your post. I no longer thank any posts unless they are from DRich due to complaints and threats to get the Mods involved.)
ALSO ADDED: I changed my mind and am thanking posts that I reply to pending resolution on whether or not I should be permitted to do that.
I sure hope that you make this your tagline for all of your posts.
-bolding mine-Quote: SOOPOOSound advice. When I do sell I won’t be counting on any of the money for anything. If it sells for $400k gotta subtract at least $20k for a realtor, likely $5k for other nickel and dime expenses. Plus $5k to move all our shit down to Florida. Plus, plus, plus….
But I’ll still have way more than the $265k I paid…
5k seems quite a bit low. I would guess double that amount. Given DRich's postings about paying others to complete tasks, moving stuff 2k+ miles to Florida is gonna be expensive.
Quote: Keeneone-bolding mine-Quote: SOOPOOSound advice. When I do sell I won’t be counting on any of the money for anything. If it sells for $400k gotta subtract at least $20k for a realtor, likely $5k for other nickel and dime expenses. Plus $5k to move all our shit down to Florida. Plus, plus, plus….
But I’ll still have way more than the $265k I paid…
5k seems quite a bit low. I would guess double that amount. Given DRich's postings about paying others to complete tasks, moving stuff 2k+ miles to Florida is gonna be expensive.
My quote was $9k to move one of those Pods from Vegas to south Florida. Those Pods look convenient but expensive.
I found a place that will rent me 17 feet of a tractor trailer for $5500. A much better price but less convenient.
Quote: Keeneone-bolding mine-Quote: SOOPOOSound advice. When I do sell I won’t be counting on any of the money for anything. If it sells for $400k gotta subtract at least $20k for a realtor, likely $5k for other nickel and dime expenses. Plus $5k to move all our shit down to Florida. Plus, plus, plus….
But I’ll still have way more than the $265k I paid…
5k seems quite a bit low. I would guess double that amount. Given DRich's postings about paying others to complete tasks, moving stuff 2k+ miles to Florida is gonna be expensive.
I don’t think we will be moving anything big by then. The Florida house will be fully furnished by then. So just our albums, souvenirs, personal items…. But my wife’s shoes can take up a full U-Haul truck…..
Quote: billryanIf you are moving a house full of stuff, I'd think it will be closer to double that. Sell everything here and start fresh. When you get to Florida, walk into the ocean backwards and fully clothed. . When you come out, throw away those clothes and start your new life.
I will be moving very little. I am thinking one mattress and some keepsakes my wife wants. Other than clothes I may not take anything. Every other piece of furiture in the house will be sold or given away. We will be taking nothing from the kitchen, living room, family room, game room, or anything from our master bedroom. Time to start over. I am excited, I get to buy four new TV's.
Quote: DRichQuote: Keeneone-bolding mine-Quote: SOOPOOSound advice. When I do sell I won’t be counting on any of the money for anything. If it sells for $400k gotta subtract at least $20k for a realtor, likely $5k for other nickel and dime expenses. Plus $5k to move all our shit down to Florida. Plus, plus, plus….
But I’ll still have way more than the $265k I paid…
5k seems quite a bit low. I would guess double that amount. Given DRich's postings about paying others to complete tasks, moving stuff 2k+ miles to Florida is gonna be expensive.
My quote was $9k to move one of those Pods from Vegas to south Florida.
Yeah. Moving that far is gonna be costly. Moving costs are crazy expensive, not to mention gas, hotels, food just to get your family down there (wife/dogs etc). Keep records for tax time as some costs may be deductible (IANAAccountant). We used ABF one time for our move from TX to FL and it was a great deal, but required lots of work for us to load and unload to save $$$.
https://www.upack.com/
Quote: billryanIf you are moving a house full of stuff, I'd think it will be closer to double that. Sell everything here and start fresh. When you get to Florida, walk into the ocean backwards and fully clothed. . When you come out, throw away those clothes and start your new life.
I'd make sure that he's at one of Florida's nudist friendly beaches before doing that. Otherwise, his new life may well begin in a holding cell.
Quote: Keeneone
Yeah. Moving that far is gonna be costly. Moving costs are crazy expensive, not to mention gas, hotels, food just to get your family down there (wife/dogs etc). Keep records for tax time as some costs may be deductible (IANAAccountant). We used ABF one time for our move from TX to FL and it was a great deal, but required lots of work for us to load and unload to save $$$.
https://www.upack.com/
My biggest worry and concern is just that long drive with the wife, two large dogs, and a cat. It will be hell. My wife is the type that needs to stop every couple of hours to stretch, pee, and smoke. With the dogs added in as a variable I expect to be stopping every 90 minutes. I have already apologized to her for everything that I am going to say to her on that trip.
I heard some advice for Driving in Vegas recently, DON'T BE THE FIRST TO PULL INTO AN INTERSECTION.Quote: TDVegasVegas drivers are no prize either. ..... The drivers are rotten AND just don’t care.
Quote: DRichMy biggest worry and concern is just that long drive with the wife, two large dogs, and a cat. It will be hell. My wife is the type that needs to stop every couple of hours to stretch, pee, and smoke. With the dogs added in as a variable I expect to be stopping every 90 minutes. I have already apologized to her for everything that I am going to say to her on that trip.
How about opting for plan 9 from outer space: put her and the hounds on a plane and do the drive yourself.
Quote: MrVHow about opting for plan 9 from outer space: put her and the hounds on a plane and do the drive yourself.
I would love to. The problem is most airlines are not shipping dogs now in cargo and they won't allow me to buy seats for them. A couple of my friends have private planes so I explored that option too. Just the fuel expense would be close to $15k so that is not an option for me. If I didn't have to buy fuel for both legs it might be doable. I think that option would make the wife happiest too. She has never flown in a private jet and the dogs could walk around and not have to be in a carrier.
We got to the hotel, and he jumped on one bed, jumped over to the other and went to sleep. For the rest of the trip( four more days), he was great.
One important thing- make sure you keep water with you. Our last night was on the Arizona/New Mexico border so I thought I'd be in Vegas in a few hours so I didn't get any more water. Sure enough, an accident shut down 40 and we were stuck in the blazing sun for hours. I had to ask around for some water for him.
Quote: billryanIf you are moving a house full of stuff, I'd think it will be closer to double that. Sell everything here and start fresh. When you get to Florida, walk into the ocean backwards and fully clothed. . When you come out, throw away those clothes and start your new life.
Great Post Mr. Ryan! I wish that I had the balls to carry out some of your ideas. Being a widower now for almost 14 months is not how I envisioned spending the golden years.
