Comments by "Crime Stoppers" (@crimestoppers1877) on "U.S. Financial Crisis NEVER SEEN BEFORE: Housing Market Halts (With Melody Wright)" video.

  1. I am in a similar situation and built my own with my hands. All new plumbing, electrical, insulation, laminated lumber roofing, HVAC, AND only interested in Liability insurance, not house or contents. Insurance companies don't pay legitimate claims anyway. Why sell and let others enjoy the benefits of my labor with dollars worth nothing? McD cheeseburgers for $6?
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  2. At 51:53 Wealth inequality? How about productivity inequality? The vast majority of the homeless are there because of their own decisions. Accountability and responsibility are required in any culture. What is an "Obamaphone" , "Free wireless" government programs of free stuff to the homeless or prople who refuse to work.
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  3. I am in the same situation. Real profit in real estate-single family dwellings occurs in the "BUY" and not the "sell". I restrict my buying to properties listed by motivated sellers. If they are not motivated to sell, I am not motivated to buy. Look for the 7D's of a motivated seller: Divorce, Debt, Disaster, Death, Drugs, Default, Downsizing and more. The more D's the more motivated. Most sellers in these situations are concerned with FREEDOM from problems. If you can QUICKLY help them they do not care about "price". They want OUT of the obligation. Agents also don't care if they have any personal debt. I always consult with an active RE attorney before my offer and during escrow/closing. My attonrye advised me that those offer and listing forms from local associations are primarily written to protect sales agents and brokers and not sellers or buyers. You can use those to your advantage by knowing exactly how to fill in the blank spaces. Every comma Counts! Dot your i's and cross your T's. I try 30% below market on my offer. If D's are enough Seller will approve. I frequently get involved with the underwriting dept of the sellers mortgage company. They also do not want an unproductive property on their books. The longer a property is not producing ( monthly PITI) the more it will cost them in the long run as properties lose market value and fall into repair category..
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  4. You mentioned a key point. Property taxes. So are you saying that Counties are receiving higher taxes than yhe real value? Think of those thousands of county government employees whose income relies on this over valuation of the houses in the County tax base. As property loses value taxes will also drop and it is possible massive layoffs of County employees.
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