The ins and outs of Real Estate

The Benefits of Alley Cats!

Passing on experience - part 1: "C'mon kiddo, I'll show you how this is done!", originally uploaded by <andreea>.

 

Within the last year I have noticed a significant increase in the number of alley cats, and cats that are allowed by their owners to free roam at night.  In fact, Now, I seem to see several ferral or free roaming cats a week.  And since cats are  primarily nocturnal, I usually see them at night.

     
Garbage Can 1, originally uploaded by cbrkelvin.         Garbage Can 2, originally uploaded by cbrkelvin.

[Do  you see the holes chewed  through these two garbage cans!]

 

Something else that I recently noticed is an absence of rats in the alleys near my home!!!!  I hadn't even thought about it much, but after thinking about it I realized that, I haven't seen any rats scurrying under cars, or under garages, or behind garbage cans, or ......yikes, jumping out of Garbage cans as I open them to throw in the trash!  Yes, those nasty, disease carying city rats are being displaced and exterminated by Alley Cats! 

Rat Warning, originally uploaded by cbrkelvin.

Part of the increase in the feral cat population is due to the housing depression and a percentage of foreclosed owners unable to secure housing that allows pets (while others simply can't afford to feed their pets and themselves with the rising cost of food, Gas, and the general economic recession) and deciding to turn their animals out into the streets.

This is generally seen as a bad thing and a negative.  But, I have to admit, a year after the appearance of alley cats in the area that their is a huge upside to having ferral cats in the area!

Alley cats have done for free in my area, and many others that have seen their numbers increase, what the city of chicago has, and many other major metropolitan areas have, spent millions of tax payer dollars (over several centuries) trying to do but failed......exterminated rats!

 

http://www.usatoday.com/news/nation/environment/2008-03-24-foreclosures-pets_N.htm

Ed McMahon Facing Foreclosure!

ed-mcmahon, originally uploaded by Ranger Rad.

 

Tonight show co-host/announcer, Star Search Host, and Publisher's Clearing House Spokesperson; Ed McMahon is facing foreclosure on his 6 million dollar Beverly hills mansion!

 

85 year old McMahon was once reportedly worth over $200 Million dollars!  Today, after several divorces, bad investments, and bad financial advice, McMahon is over $644,000 behind on mortgage payments!

 

Yet, in 2003 McMahon won a 7 Million dollar law suit against his home's developer because of toxic mold in the home that killed his dog.  Yet, after his attorneys fees, and rebuilding and repairing the mansion, he apparently wasn't left with much!

 

The next person that McMahon, and many other stars in his shoes, should sue is his financial adviser! 

 

Stars, Celebrities, Athletes and Multi-Millionaires, listen up!  I am not a financial adviser nor financial planner, but I can tell you that when you have net worths in the multi-millions of dollars, don't finance homes that are less than 1/5th of your net worth, BUY THEM OUTRIGHT!

 

$6,000,000.00 is only 3% of $200,000,000.00!

 

(unless it's a super hot real estate market and you are buying the home to flip it for a fast profit) Forget about the mortgage interest being tax deductible, save the interest by paying cash, and prevent future foreclosure!   

 

http://www.usatoday.com/life/people/2008-06-04-mcmahon-foreclosure_N.htm?csp=34

 

Banks Ask Courts to Return Empty Foreclosed Homes to Past Owners!

Broken Soul, originally uploaded by Weird Rock´n´Roll.

Banks are over-run with foreclosed properties that they have taken back from their previous owners.  With the current Real Estate depression, banks unwilling to cut the prices significantly enough to move foreclosed properties, and underwriting guidelines - used to qualify buyers for loans - being stricter, in many cases the homes remain empty for so long that they litterally start to fall apart.

As these non selling foreclosed homes fall apart they also accumulate code violations.  With banks now being the owners of record numbers of these dilapidated repossessed homes, they are beginning to ask the courts to vacate the foreclosure orders and return ownership of the homes (along with responsibility for repairing the code violations)  to their previous owners!

Historically, the courts and judges would side with the banks and vacate the foreclosure orders, but now, the trend is reversing and many judges, to the dismay of banks, are not returning ownership of the foreclosed homes to the previous owners..........leaving banks on the hook for repairs, violations, and fines!

I hope this current trend continues.  If it does, banks will be more reluctant to foreclose on properties in the first place, and will be more flexible in giving homeowners loan modifications, interest rate freezes or reductions, or will reduce prices enough to make homes more affordable.

So, if you are a distressed seller/homeowner, and in danger of loosing your home, try renegotiating the terms of your loan with your bank, and stress the fact that homes in your area are not selling and that if the bank takes the home back, they will likely end up with another empty home that won't sell, won't rent, won't produce any income and will rack up fines and code violations!