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Comment on Short Leases by psagent

psagent — Sun, 26 Feb 2012 16:54:06 +0000

HI Pat, Thank you for the reply. My opinion is that buying a property with a short lease that you know you want to sell in 10-15 years is a bad idea. That is the period of time where the lease renewal will be coming up but there will be no sure answers. Buyers will not be able to truly know the results of the lease negotiation and therefore the property would be a much harder sell. Buying and holding through the lease renewal period or buying a lease that is not short would be your better option. Thanks again, Michael Layton

Comment on Short Leases by Pat Masterson

Pat Masterson — Sat, 25 Feb 2012 19:35:37 +0000

Thank you Michael for your response. We are looking at buying a house on lease land; the home is not part of any association. My big concern is if wanting to sell the house 10 years from now, will there be any buyers interested in a lease that could have only 15 to 20 years left until expiration? It sounds like we would be buying and not knowing what is in store for us done the road until it is too late to do anything about it. Is there not much information out there because no one would buy on lease land if they knew the whole story?

Thank you,
Pat

Comment on Short Leases by psagent

psagent — Fri, 24 Feb 2012 16:20:56 +0000

Hi Pat, Thanks for asking. My experience of being here for 12 years plus owning lease land myself says that it is usually 12-14 years out when the lease renegotiation starts in earnest. I have seen it start 20 years out but not often. Lease renewal rates are as individual as the leases themselves. There are 22,000+ subleases in the valley so the variations are endless. I have heard – but have no proof – that the renewal rates are based loosely on the the aproximate value of the land divided by the numbers of leaseholders. Of course you have to ask when is that value determined? 15 years out or adjusted right up until the end? I am sorry but there is no answer for that. If you are in a development with a homeowners association they ought to have a committee or a contact person who is monitoring the lease and any possible renewal options. If you are an individual home owner not in an association I am sad to say you will most likely just have to wait unitl they contact you. Thanks and feel free to contact me if you have other questions. Michael

Comment on Short Leases by Pat Masterson

Pat Masterson — Fri, 24 Feb 2012 01:21:18 +0000

Let’s say I have a lease with an expiration date of 2040. When can I expect the leaseholder to start the renewal negotiations? Any idea of how much I will pay for the renewal fees? I have talked to the BIA and many realtors about the renewal process and can get no info so anything will be helpful. Thanks

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bankruptcy attorney Baltimore — Mon, 09 Jan 2012 06:36:04 +0000

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Comment on Buyers Guide To Purchasing a Short Sale by Buyers Guide To Purchasing a Short Sale « PShouseblog.com | Property Guides

Buyers Guide To Purchasing a Short Sale « PShouseblog.com | Property Guides — Sun, 16 Oct 2011 22:01:30 +0000

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Today's top canadian mortgage and real estate news — Canadian Mortgage Hub — Wed, 05 Oct 2011 19:19:53 +0000

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Golf With The Pros At The SilverRock Resort : The Golf Addict — Fri, 09 Sep 2011 05:40:38 +0000

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Comment on What is A QRM? by Manhattan Beach Green Realtor

Manhattan Beach Green Realtor — Thu, 25 Aug 2011 04:07:32 +0000

Increasing down payment requirements, whatever our personal feelings:

1) Decreases debt capital available for housing

2) Decreases systemic financial risks in mortgage markets

Everyone has a value judgment as to which of those is more important. My personal take is that government should skew markets one way, or another. Subsidizing debt capital over equity capital just induces more people to become indebted, raising systemic risks. Just as in physics every force has an equal and opposite counter-force; in economics, every policy forcing function has consequences.

Comment on Solar Highways by Manhattan Beach Green Realtor

Manhattan Beach Green Realtor — Tue, 23 Aug 2011 05:38:48 +0000

Nuts! This would be wonderful. Love this kind of out-of-the-box thinking! Turning energy radiating asphalt into energy absorbing, and harnessing, solar fields would truly transform civilization.