The Collected Works of Author and Blogger Larry Roberts

Archive for April, 2015

Nixon’s Western White House Is Listed for $75 Million San Clemente estate is owned by onetime volunteer gardener, Allergan founder Gavin Herbert By Candace Jackson, April 1, 2015 1:52 p.m. ET For Gavin Herbert, the retired founder and CEO of Allergan—the nearly $70 billion pharmaceuticals company—it was a lifelong love of gardening that led to his ownership of one of Southern California’s most storied and valuable coastal properties: President Richard Nixon’s so-called Western White House. Now, it will hit the market for $75 million. Mr. Herbert, 83, is selling the estate after 35 years of ownership and is looking for a buyer who will continue to care for the property. The 5.5-acre estate in San Clemente, Calif., has more than…[READ MORE]

Many underwater homeowners face recasting and resetting second mortgages and HELOCs. Their options limited, most will be stuck paying off these debts. One of the most obvious signs of the housing bubble was the willingness of buyers to purchase properties where rents only covered a small portion of the total cost of ownership. Speculators ignore the costs because they plan to make a fortune on appreciation; investors focus on carrying costs and consider appreciation a bonus. Speculators bought houses from 2004-2006; investors did not. One of the primary goals of the property analysis system on this site was to prevent a recurrence of the foolish behavior witnessed during the housing bubble. Everyone who buys a property should know the consequences…[READ MORE]

Millennials must pay off their debts and save for a down payment in a difficult job environment or they will never become homeowners. Historically, people who rent their primary residences break down into two categories: (1) those who value freedom, and (2) those who don't have the financial discipline to save for a down payment. Those who value their freedom to pursue job opportunities or other reasons should not anchor themselves to a piece of real estate. At some point their life circumstances may change, and they may wish to become homeowners, but until that change happens naturally, they will remain renters. During the housing bubble, lenders and politicians on the left believed they found a panacea with 100% financing…[READ MORE]

The benefits of using home equity lines of credit are large, and the costs are minimal. Get your free money today! If someone offered you free money, would you take it? If you didn't suspect a hidden agenda, I believe you would. Most people would accept financial help from family or friends because people who give gain tremendous emotional benefits from giving. It's incumbent on everyone to gracefully accept any gift offered to them because it pleases the givers. Ten years ago, lenders embarked on the biggest gift program of all time when they began making "loans" to people who had no ability or inclination to pay them back. The recipients of these gifts, affectionately known as Ponzis, accepted this…[READ MORE]

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