BUYERS BEWARE: Buying a foreclosed home can be VERY tempting…..but: one must keep in mind that the entire foreclosure process is or can be very ADVERSARIAL. Someone is losing their home, someone else is buying it….cheap….and as enticing as it may seem, there are five factors that must be kept in mind:
1. The Loan itself: Assuming not a cash buyer, most lenders will only extend themselves if the home is in reasonably good condition. Someone who is about to lose perhaps their primary investment may very well take something in it that can be used elsewhere….even if they shouldn’t. Thus….carpets can be ripped out, appliances removed, toilets/sinks..gone. Guess what happens next? Nothing. No loan.
2. The Auction Process: This is serious stuff for people who themselves don’t know what they’re doing or who rely on others who are no better informed. THE biggest issue is obtaining a clear title. If a thorough search is not done and the home is purchased on the Courthouse steps….and it THEN turns up that there are liens against the property that no one took the time to investigate….that purchase can be all but worthless, depending upon who holds those liens and their amount. These sales are FINAL. Remember SUB-PRIME mortgages anyone??
3. The Inspection: Suppose you do get the loan and shop for the home via a realtor. Make 1000% sure you retain a CERTIFIED HOME INSPECTOR to check that house out BEFORE making your offer. MOLD is a huge issue, which essentially makes a home uninhabitable. And I can assure you….if one is losing their home and losing it “as is”….they’re not about to be too concerned about disclosing that the ceilings are all but falling down from leaks or that the Roof is in desperate need of replacement. VANDALISM is another. Wires behind walls may have been cut or holes cut into pipes. And yes, appliances and cabinets gone.
4. The Title Insurance: Did you know that a former owner has the right, albeit an unlikely one, to get his home back? And if he does and you have no Title Insurance to defeat his claim, that would be a bit of a mess, especially if you have already expended considerable sums of money to repair that home. So-o-o.. make sure you have a policy with a rider attached to cover you for MORE than you paid for the property.
5. The Waiting Game: Don’t jump at the first chance to buy. Should that original owner come back, this must occur within a time frame. Wait at least several months before trying to purchase a foreclosure. All eyes are still and will be for a fairly long time front and center on the foreclosure market. Have everything that needs to be checked out done via a panel of experts….and then take a deep breath and watch the listings carefully. Don’t forget that yes, the foreclosures are tempting….but like anything else in life…you get what you pay for. Be Careful.
Paula S. Solomon
Monday, October 25, 2010
Wednesday, April 14, 2010
Life in the Sonoran Desert
Life in the Sonoran Desert holds many pleasures……but many dangers for our pets. The area has many predators…..coyotes, bobcats, owls, hawks….and yes, rattlesnakes. Wild animals are protective of their young and there is no question they will strike out if they feel threatened or provoked. Contrary to popular belief, these attacks are not limited to the nighttime hours and are not limited to small pets. Keeping dogs on a leash at all time when walking…..and not on a loose or extended leash…… or in a fenced or high- walled area when at home can help avoid heartbreak. Never leave a small pet, be it dog or cat, alone on a patio over which so many of these wild animals can jump. Owls and hawks have been seen scooping up small animals, even when on a leash, and cats are ALWAYS safer kept inside.
To the extent possible, keep your pets from digging in the desert, as Valley Fever can be contracted from the spores in the soil. Similarly, don’t allow them to mouth or play with desert toads who secrete a kind of venom that is painful and extremely toxic .
Take your dog to snake-training school. Not much fun to watch, but….these bites can be deadly and at the very least, horribly painful. If your pet is bitten, the best chance for its survival is to take it to a veterinarian as quickly as possible. More often than not, a dog who has been “snake-trained” will not forget the experience of snake school and will remember the scent of the snake….and forget about being curious.
Always check your pet’s paws for cactus needles. Obviously, they are all over the desert floor. If you do take your pet hiking or even walking, always carry a pair of needle-nosed pliers. And on the subject of plants in the desert, ALWAYS check your pet’s ears for Foxtail….the weed that grows everywhere in the Spring, with the “feather-like “ head. Although initially soft and green with a purple-ish top, once it gets into the ears, that “feather-like” head, hardens into needles and oftentimes must be extracted surgically.
And oh so important: Pets need a LOT of WATER and SHADE when it’s hot. Take those walks in the early morning or evening when the temperatures are not as severe and the walking surface will not scorch paws. And NEVER, EVER keep a pet in a closed car as brain damage and/or death can occur quickly.
To the extent possible, keep your pets from digging in the desert, as Valley Fever can be contracted from the spores in the soil. Similarly, don’t allow them to mouth or play with desert toads who secrete a kind of venom that is painful and extremely toxic .
Take your dog to snake-training school. Not much fun to watch, but….these bites can be deadly and at the very least, horribly painful. If your pet is bitten, the best chance for its survival is to take it to a veterinarian as quickly as possible. More often than not, a dog who has been “snake-trained” will not forget the experience of snake school and will remember the scent of the snake….and forget about being curious.
Always check your pet’s paws for cactus needles. Obviously, they are all over the desert floor. If you do take your pet hiking or even walking, always carry a pair of needle-nosed pliers. And on the subject of plants in the desert, ALWAYS check your pet’s ears for Foxtail….the weed that grows everywhere in the Spring, with the “feather-like “ head. Although initially soft and green with a purple-ish top, once it gets into the ears, that “feather-like” head, hardens into needles and oftentimes must be extracted surgically.
And oh so important: Pets need a LOT of WATER and SHADE when it’s hot. Take those walks in the early morning or evening when the temperatures are not as severe and the walking surface will not scorch paws. And NEVER, EVER keep a pet in a closed car as brain damage and/or death can occur quickly.
Home Inspection
When purchasing a home, no matter what…..do NOT pass up a home inspection. And be certain that that inspector and his company are STATE CERTIFIED. A home should be tested for gas leakage and carbon monoxide leakage and the inspector should be utilizing sophisticated gas-company-quality equipment to perform the testing.
Install a CO detector/alarm in the hallway near every separate sleeping area in the home. Be certain that the detector cannot be covered up by furniture or draperies. Note that Carbon Monoxide poisoning symptoms are similar to the flu……headaches, drowsiness, nausea and dizziness.
Blocked c himneys are one of the major causes of carbon monoxide poisoning deaths. Flue pipes or chimneys can have cracks, allowing CO to enter the home, build up and attack whoever is living in it. Homeowners should always have heating, ventilation systems, water heaters and fireplaces cleaned and checked during the colder months. And this should be done entirely irrespective of whether a home is being purchased or not.
Install a CO detector/alarm in the hallway near every separate sleeping area in the home. Be certain that the detector cannot be covered up by furniture or draperies. Note that Carbon Monoxide poisoning symptoms are similar to the flu……headaches, drowsiness, nausea and dizziness.
Blocked c himneys are one of the major causes of carbon monoxide poisoning deaths. Flue pipes or chimneys can have cracks, allowing CO to enter the home, build up and attack whoever is living in it. Homeowners should always have heating, ventilation systems, water heaters and fireplaces cleaned and checked during the colder months. And this should be done entirely irrespective of whether a home is being purchased or not.
Friday, February 12, 2010
Some "Did you knows":
THAT approximately 32 million acres are lost to de-forestation EVERY year? That’s the size of all of Greece! Forest destruction is one of the foremost contributing factors to climate change.
THAT in New York City, 80% of all carbon emissions are generated by buildings….and the same is true for most major cities. And for those who say that “green” doesn’t save money…..The Empire State Building will soon be retrofitted in a more energy-efficient manner, saving the building owners upwards of $4.400.000 annually in energy costs.
THAT Aids is the leading cause of death for people between the ages of 15-59….and that 31 children world-wide die of it every HOUR.
THAT 1 out of every 3 children in the United States is either obese or plainly overweight…and that if Childhood Obesity continues at its current rate….this could be the first generation to live shorter lives than their parents. Heart disease, diabetes and other serious health problems are ALL related to obesity.
THAT the largest gap between rich and poor in the world is…….no, not India, not Africa…..but Latin America!
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
BACK to BASICS: COOKING!!
What might seem like a prelude for calling 911 and the fire brigade is a really cool way for slow-cooking ribs and roasts. Just wrap the meat in Saran or similar plastic wrap, then again with foil (THAT is important!!) and slow roast in the oven. The plastic wrap traps in all the moisture and does not melt. It really doesn’t! For ribs, add sauce and finish off on the grill-----THIS time, without the plastic wrap (ahem)….
And if you want to flavor any of this with spices, remember that grinding whole spices/seeds with a mortar and pestle produces superior flavor and aromas. And whole spices keep longer than ground, which, by the way, do NOT have indefinite shelf lives! Ever try making a Chili and using Chili Powder…..New Mexico, Ancho, whatever….that you’ve had for a year or so? And wonder why you need to use almost the whole bottle of the stuff?? And it STILL has almost no taste???
**********************************************************IIt has no smell, is virtually non-detectable….and is deadly. It’s caused by blocked chimneys, poor ventilation systems, cracked pipes, flue pipes…..or gas starters to fireplaces not being properly turned all the way off. Its name is Carbon Dioxide and its poisoning symptoms are similar to the flu….headache, drowsiness, nausea and dizziness.
SO: install a CO detector/alarm in hallways near every separate sleeping area in the home and be certain that the detector cannot be covered up by furniture or draperies. As I’m sitting here with a headache, I’m wondering about all of this……
Paula S. Solomon
THAT in New York City, 80% of all carbon emissions are generated by buildings….and the same is true for most major cities. And for those who say that “green” doesn’t save money…..The Empire State Building will soon be retrofitted in a more energy-efficient manner, saving the building owners upwards of $4.400.000 annually in energy costs.
THAT Aids is the leading cause of death for people between the ages of 15-59….and that 31 children world-wide die of it every HOUR.
THAT 1 out of every 3 children in the United States is either obese or plainly overweight…and that if Childhood Obesity continues at its current rate….this could be the first generation to live shorter lives than their parents. Heart disease, diabetes and other serious health problems are ALL related to obesity.
THAT the largest gap between rich and poor in the world is…….no, not India, not Africa…..but Latin America!
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
BACK to BASICS: COOKING!!
What might seem like a prelude for calling 911 and the fire brigade is a really cool way for slow-cooking ribs and roasts. Just wrap the meat in Saran or similar plastic wrap, then again with foil (THAT is important!!) and slow roast in the oven. The plastic wrap traps in all the moisture and does not melt. It really doesn’t! For ribs, add sauce and finish off on the grill-----THIS time, without the plastic wrap (ahem)….
And if you want to flavor any of this with spices, remember that grinding whole spices/seeds with a mortar and pestle produces superior flavor and aromas. And whole spices keep longer than ground, which, by the way, do NOT have indefinite shelf lives! Ever try making a Chili and using Chili Powder…..New Mexico, Ancho, whatever….that you’ve had for a year or so? And wonder why you need to use almost the whole bottle of the stuff?? And it STILL has almost no taste???
**********************************************************IIt has no smell, is virtually non-detectable….and is deadly. It’s caused by blocked chimneys, poor ventilation systems, cracked pipes, flue pipes…..or gas starters to fireplaces not being properly turned all the way off. Its name is Carbon Dioxide and its poisoning symptoms are similar to the flu….headache, drowsiness, nausea and dizziness.
SO: install a CO detector/alarm in hallways near every separate sleeping area in the home and be certain that the detector cannot be covered up by furniture or draperies. As I’m sitting here with a headache, I’m wondering about all of this……
Paula S. Solomon
Monday, January 18, 2010
The Villa Retreat at the Boulders
The Villa Retreat. The Boulders. Where the STARS come to see the stars! Experience this extraordinary 5700 sf 6 bedroom 6.5 bath two-home Contemporary knock-out…and you will understand why Hollywood and Sports’ World celebrities alike wind-down in the hidden privacy of this residence which is like no other. Nor can there be, as its owner, a highly renowned interior designer, created it for himself, sparing neither expense nor thought in making it into something that is indeed an environment of extraordinary beauty and the epitome of exquisite taste. Due to its unique configuration, it would be the consummate corporate retreat, if not otherwise enjoyed as a family compound or…as an investment by one or more investors….when placed in the rental program of The Boulders Resort, garnering upwards of $8000 a night for those very few who can afford to bask in ultimate luxury.$3.575.000
http://TheVillaRetreatatTheBoulders.com
The Show must go on
Political theater and public scolding are good ways to draw attention to important issues and bad behavior, and Phil Angelides, chairman of the Financial Crisis Inquiry Commission, made use of both last week. As he swore in four of the nation’s top bankers, it was impossible not to think of that famous scene with executives from the tobacco industry. During the questioning, he rebuked Lloyd Blankfein, head of Goldman Sachs, for his firm’s practice of selling mortgage-related securities and at the same time betting they would fall in value.
Now that he has everyone’s attention, Mr. Angelides and his fellow commissioners can get to the hard part.
Inconclusive sparring at hearings will not fulfill the mandate Congress gave the panel to investigate the causes of the crisis. Indeed, the bankers who testified last week did not say much they had not said before.
The commission must uncover what bankers, investors, government officials and other people in positions of power, past and present, would prefer not to say — or perhaps do not know or understand — about the crash and the bailouts. The primary aim is not to air issues and foster debate, but to test views, resolve contradictions and arrive at evidence-based conclusions.
Yet the commission — which is supposed to file a final report by Dec. 15 — has not issued a single subpoena for documents. Instead, investigators have apparently been relying on voluntary cooperation, public records and information-sharing agreements that have been negotiated with federal agencies. A thorough investigation requires source documents that reveal what people were thinking and doing at the time of the events and that illuminate, buttress or contradict testimony.
Take, for example, Mr. Blankfein’s explanation that the clients Goldman bet against were sophisticated investors who demanded the doomed securities that Goldman sold them. Apart from the fact that the notion of “sophisticated investors” has been discredited by the crisis, does that explanation go far enough?
Without peering into the internal workings of Goldman and other financial firms that engaged in similar practices, it is hard to know how far bankers went in creating demand rather than responding to it, or if the securities were purposely designed to perform poorly.
The answers could cast light on when Wall Street practices cross the line from prudent hedging to excessive speculation.
A crucial related issue is whether Wall Street’s role as the underwriter of securities, which implies a level of approval of the investments being offered for sale, misled investors into buying questionable securities, and thus contributed to the credit bubble. If so, that would make the argument for barring too-big-to-fail banks from operating hedge funds all the more compelling.
Given the stakes, the chances seem remote that Wall Street will voluntarily hand over the papers that could get to the bottom of it all.
The inquiry is getting under way at a critical moment. The House has passed a financial regulatory reform bill that was enfeebled in important respects by bank lobbyists. The Senate banking committee recently rejected a generally robust proposal by Senator Christopher Dodd. It has yet to produce an alternative, but it is likely that lobbying and partisan politics will generate a weak bill. President Obama’s call for a new tax on big banks is a good idea, but must not pre-empt other needed changes, including a tax on bankers’ bonuses and more direct regulation to limit the size of financial firms.
Now that he has everyone’s attention, Mr. Angelides and his fellow commissioners can get to the hard part.
Inconclusive sparring at hearings will not fulfill the mandate Congress gave the panel to investigate the causes of the crisis. Indeed, the bankers who testified last week did not say much they had not said before.
The commission must uncover what bankers, investors, government officials and other people in positions of power, past and present, would prefer not to say — or perhaps do not know or understand — about the crash and the bailouts. The primary aim is not to air issues and foster debate, but to test views, resolve contradictions and arrive at evidence-based conclusions.
Yet the commission — which is supposed to file a final report by Dec. 15 — has not issued a single subpoena for documents. Instead, investigators have apparently been relying on voluntary cooperation, public records and information-sharing agreements that have been negotiated with federal agencies. A thorough investigation requires source documents that reveal what people were thinking and doing at the time of the events and that illuminate, buttress or contradict testimony.
Take, for example, Mr. Blankfein’s explanation that the clients Goldman bet against were sophisticated investors who demanded the doomed securities that Goldman sold them. Apart from the fact that the notion of “sophisticated investors” has been discredited by the crisis, does that explanation go far enough?
Without peering into the internal workings of Goldman and other financial firms that engaged in similar practices, it is hard to know how far bankers went in creating demand rather than responding to it, or if the securities were purposely designed to perform poorly.
The answers could cast light on when Wall Street practices cross the line from prudent hedging to excessive speculation.
A crucial related issue is whether Wall Street’s role as the underwriter of securities, which implies a level of approval of the investments being offered for sale, misled investors into buying questionable securities, and thus contributed to the credit bubble. If so, that would make the argument for barring too-big-to-fail banks from operating hedge funds all the more compelling.
Given the stakes, the chances seem remote that Wall Street will voluntarily hand over the papers that could get to the bottom of it all.
The inquiry is getting under way at a critical moment. The House has passed a financial regulatory reform bill that was enfeebled in important respects by bank lobbyists. The Senate banking committee recently rejected a generally robust proposal by Senator Christopher Dodd. It has yet to produce an alternative, but it is likely that lobbying and partisan politics will generate a weak bill. President Obama’s call for a new tax on big banks is a good idea, but must not pre-empt other needed changes, including a tax on bankers’ bonuses and more direct regulation to limit the size of financial firms.
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