Auctioneer reserves the right to withdraw any item before or during the auction and also reserves the right to bid on behalf of the seller.

Only registered bidders may bid on the property being sold, any exceptions to this requirement shall be within the sole discretion of REALestate*****.COM and F**** C******.

No allowances, adjustments or rescission of the sale will be allowed based upon failure of the property to correspond to a particular need. The registered bidder will be responsible for any purchase made with his or her unique REALestate******.COM identity and password. One should also note that as the auction nears the closing time the auction will automatically extend until the bidding is silent for 30 minutes.

A BUYER'S PREMIUM OF 10% PERCENT WILL BE ADDED TO THE SUCCESSFUL BID AND WILL BE USED TO ESTABLISH THE FINAL CONTRACT PRICE.

----My disclamation statement: This is a fictitious copy of a real estate auction game rules. No intention to refer to anyone. It is a coincidence if there is a match of words.

*****

What? Is it an AUCTION by the traditional definition of "auction" in a dictionary?

What a word of arrogance! Here we see one of those fancy devices used and invented by those MBA from the Ivy Tower!

I put my comment about this fictitious website in Chinese to my friend as follow: 按照其規則﹐就算依起標價 １50﹐０００計﹐再加傭金１０％﹐就是至少買價要不少於＄１65﹐０００。同時﹐拍賣人可以下場投標﹐拉高競標金額﹐這是『球員兼裁判』﹑『法官兼被告』﹐佔盡所有便宜﹐非常不公平 (very unfair)。就別浪費時間吧﹗Well, in short, my comment on the website is "It is a marketing scam, a fake auction."

There are some decent and well-established auction sites out there. Just don't waste your time on this new one where they can arrange "straw men" to bid up the price (like the post inside Seattle buses: "we have plain clothes police on board." You don't even know who they are there and they have the "legal" right to do it without your notice.) Humm, a Judge is also a player or defendant?

They have all the rights whatever, and where is your right for you, the consumer? In short, your bidding is binding on you, but it is just a piece of tissue with no legal binding effect to the seller or auctioneer. Too MUCH unfair! Well, all I can say is "life is too short to deal with jerks." It is you, a dummy, putting yourself in that game. Now, are you going to ask more government regulations in this so-called "unregulated" area?

They even charge 10% buyer premium to give a phony impression of low price for a buyer to overlook what the actual end bid price is. In addition, they make it very clear "all the bids subject to seller's approval."

What on the Earth they believe they can claim they are truly doing an auction!

Hummm, just like some people are creative enough to say the two same sex human beings can still marry to meet the definition of "marriage."

Hummm, just like some government people copy the "rebate" program from "BEST Guy" to give the first time buyers tax credit of $8,000 after they buy a house. They make it sound so modern and creative in impression. Why don't you just give them $8,000 upfront to make up or "add" up the amount of down payment, to make a banker more comfortable to approve a loan and to ease credit crunch?

Well, I am an old fashion guy, honest down to Earth, may be too old to learn the new tricks and don't understand the rationale in their plans too.

Nowadays, I always keep myself wondering if it is possible to have 3 adult persons or more had one certificate of "marriage", even that piece of paper carries NO better function than a piece of toilet tissue?

Banks aren't reselling many foreclosed homes

****

Gee! Carolyn of the San Francisco Chronicle is a sweet lady. She is just so nice to point out a fact with a very conservative figure.

I read a lot of report. I have no exact figures of this so-called "ghost foreclosure"; but I guess Carolyn's number is too nice.

I has kept in my mind the fact banks' REO are piling up into its books as "assets." Almost all the big bankers don't like to release info about its REO holdings, except three bankers I know. One of them is Wells Fargo Bank.

No Wonder Wells Fargo has been shown its desire to play the game by the old rules. Under the old game, Wells Fargo has the possibility to become the Top one bank by its good and decent performance. Sure, others don't like it happen and would like to change the well-established rules by taking advantage of TARP with their pals help.

They thought we were too stupid to know the truth. But a lot of people have the insight to see through these smoke guns, such as this article: US Treasury Privatized Profits And Socialized Losses.

Sure, I read some reports telling us there are legal redtape such as courts is not cooperating to speed up foreclosure. Also, some said there were a massive layoff causing shortage of manpowers in banking system to meet the increasing REO pile up. Well, to me they are not incurable. Almost all the reports are just giving an excuses after an excuses.

Still it is a good question for me to ask: Besides those excuses, what makes them doing it this way? I mean what is the real core cause behind all of these. We can't cure a disease if we don't know the roots, am I right?

What's Freedom(1): Keep Eyes Open and Don't Shut Choice Out! (edit/delete)

Special Features: Here Comes Your Stimulus Bonus- CNNMoney.com

President Obama has promised to plump paychecks -- and he'll be starting soon. Find out how much workers can expect and learn whether or not you qualify.

(NOTE: How much is the money Obama talking about? Find it out. I am a poor guy, but I have never been bothered by a $1,000 purchase, even it is a impulsive. I give out $30 loan to anyone in my neighborhood without brain or hesitation. To me, that action won't cast me a leg or arm. No harm at all.

But what is big or small? See, I can't even think of buying a property with starting bid price of $100 million or willing to be forfeited $1 million deposit as those big ladies or guys (Apartment Buyers Abandoning 6-Figure Deposits.) To a lot of people, $1 million is just like $1 in my pocket as those big VIPs talk about $1 Trillion without raising their eyelids.

So, big or small is a question of relativity. Now we have one BIG Big guy who is so proud of talking to give us a petty money every month.

He is so kind to give us more monthly allowance. That's right, $15 to $30 a month on your paycheck. Great! Who is He? That's our President who has a good mind as a detailed maid to "well-manage" our household.

	Here comes your stimulus bonus, Big guy play petty money (尚未發行)
	時事評論｜財經	2009/04/01 02:52 ｜瀏覽 1｜回應 0｜推薦 0｜

Thank you, God! Can you give him just a little bit other kind of mind to know "governing" strategy by looking at LP, i.e. Lager Picture and find out the total burden of our people to release the pain--- Please see this article after I pointed out nobody discuss the heavy tax wedge against American people: I cross it out because, after I post a draft, I am unable to locate the article I read a few days ago. I will post it here if I find it.)

Tue, 3/31/09, Perry wrote:

From: Perry P*** <perry@.com>
Subject: Re: Fw: "Texas Land Contract of $60,000"
To: etahoo.com
Date: Tuesday, March 31, 2009, 2:39 PM

et writes: Texas Land Contract of $60,000 for Sale Hi

Ed: This has to be a problem on my end and I still cannot access the photos but no matter as all doublewides look pretty much the same. Still did not get the 2nd note details either tho'.
How would you feel about an offer for PART of your note i.e. You keep the April and May 2009 payments of $644.76 each. We buy the next 117 payments and you keep the balloon payment of $30,000+. We'd offer you $**,000 cash for the June 2009 pmt. onward and you would collect the balloon payment in 9 yrs.+. Let me know. Thank You. Perry

Thank you, Perry, In 9+ years, $644.76X118= $76081.68. For that cash flow, you are willing to pay a lot of money.

Hmmm, if your return rate is 22%, you'll be happy to pay me $34,562.87 for 118 payments. So you'd like to pay me $**,000 (plus closing costs.) That's too kind an offer per my investment goal. I would get you much better return if we could work out a master plan I proposed to you.

Now, for me to get your money, is it simple and easy? No future liability? If I need CASH in an emergency and have no other alternative. Yes, not bad a deal ! But, do I have other choice?

Hmmm, let me think about it. Yes, I do need some more cash than what I have in my pocket, if I will go for my purchase of next home in Arizona, Las Vegas, or SoCal.

Any freedom out there for me to choose?

(1) Go to my credit card. Just one phone set everything. Great way to get money I need! I have to pay 3% of transfer fee, i.e. about $1,020 in advance and then be billed about $450-650 per month in the first year (even the promotional interest rate is 4.99%, but there is a 1-2% principle pay back.) All I have to do is sign my name and be executed (NOTE: Sorry, it is not me to be executed. It is the note. Nowadays, there is no need of signature. As said, help is just one phone call away.)

Hmmm, that is just like keeping my note as a stable income source for me to pay back. In the case, I am still possible to have some money of $100-200 left to me every month. $200 X 118= $23,600. So in effect I get only **,000 from you, let don't mention my payment to credit card is gradually reduced every month along the line. Is it worthy for me to be bothered to create a legal entanglement, if not a trouble, in the future? Hmmm, I am a lazy guy and want to do things simple and naturally.

(2) Go to my friendly banker's office to sip a cup of coffee and ask her give me a personal (signature) loan without any document, in the worse case pledging my note as a security collateral?

(3) My banker friend used to tell me "no problem to give you $100,000 loan at any time, just ask and sign." Time changes as Chase bank recalled one of my credit cards of $35,000 line of credit, due to 2 year "inactive." (Don't blame Chase, it is very difficult for them to keep that line for me idle since they are short of cash liquidity.)If she is not so friendly as she used to be, what I could sweet the deal? Hmmm, maybe I have to threw in my new house as security in addition?

(4) Call my "Big Brother" Eugene and his lovely wife, the richest friends to me, to ask their favor as I did last time in May 1997. They didn't want to charge me interest as my lady Ambassador friend Marietta and her husband gave me a loan of $35,000 without security, even a written note, in 1988; but I insisted. I got a hard money loan of 12%, interest only, no any junk fee in advance. I refinanced my purchase and only paid them 3 monthly interest payments and I made a "negative down" deal, better than Robert Allen's "zero down." At end, I put an additional $34,000 in my pocket and better, it is tax-free. (NOTE: I mentioned this case in my AR previous articles. May I ask how much is my return rate after the deal finalized?)

But I have never asked help from anyone, including them, since then. Even Sharon and Eugene still keep asking me FREE legal advice from California, I've never initiated a phone call to them? About 8 months ago, I advised them to post a "foreclosure" against one of their properties in order to solve a property title cloud after their mom passed away 7 years ago, without will. Their attorney who suggested to go to a probate court switched to my strategy even he said "crazy" at the first hearing of my idea. But I succeed in convincing him to finally say "capital idea!" in legal practice. Now they completed the volunteer "foreclosure" themselves and have a clean title.

However, I do have a big problem in asking a favor from anyone. That's against my Principle I said to myself at the time I retired: "Never ask any financial or money help from others from now on."

Well, I am an easy and lazy guy, sell partial note is not my top priority. That creates too complicate legal situation to my simple mind, if not to those Obama‘s guys who love it. It would be much appreciated if you could have us had a straight sale.

Do I have any other alternatives? Sure, I believe I do in this democratic society, not like those Obama's guys or politicians. (NOTE:I came up an idea to better my seller financing to cope with Obama's home buyer's $8,000 tax refundable credit. Do you know what it is?)

*** *** ***

NOTE:After I checked into it, I came up an idea to better my seller financing to cope with Obama's home buyer's $8,000 tax refundable credit*. Do you know what it is? The Oop Depression tax credit plan has been estimated to cost our government revenue about $39 billion**(NOTE: I don't know where they get this figure: a lot of houses have to be bought. At least, in theory, 5 million houses have to be sold. That's about our normal sales volume a year. But even we assume all the house purchases qualify for the full amount of credit, at this slowdown market, do you think it making sense to project this huge revenue loss? ) Mind you that there is no ceiling cap limit set on this tax credit in our Federal budget, unlike California which set a budget limit of $100 million.

Based on the current law and Chinese philosophy of "上有政策下有對策", It would be easy for me to legally incur 10 times the projected revenue loss to $390 billion if I could be in charge of a small size charity foundation. Well, I am not greedy; $39 billion is too big money to get for my sales goal and too good to work on for now.

My plan would be function like another subprime loan to the poor for an affordable housing, without its bubble effects. Trust me, NO way for New York attorney general Guamo to accuse me of something like Madolff case or Chase bank recent credit card membership surcharge of $4.4 millions. Because I don't like government regulation, I am going to navigate mainly in un-regulated "private economy." or, you may say, private citizen "automacy."

What's my plan in my mind? Give you guys a hint. There is a Chinese saying: "朝三暮四"i.e. even a monkey knows some basic laws of economics in face of his master/ government game play.

* The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

** Estimated cost: $39 billion.How stimulus can help your wallet

Shortsale slow down: It depends on what they ate at lunch, beef or fish

FICO Score Is "Fu*k" Score

***

Compared last week and last two business days, the stock market is very interesting!

Just about 10 days ago, 3 days afte stock consecutive 3 day rally, my wife asked me: "Is this the time for me to get back into stock?" My answer is simple: "Stay put where you are." Last weekend she kept asking the same question. I told her, "Did I tell you be patient?" It is a so-called "sentiment" after Gaithner and Benanke release a optimistic aroma. Some investors are trying to realize their paper gain, cover their short sale to clear their position. I don't see any fundamental improvement in our economy if it is still as "sound" as those politicians said.

Tonight, I will tell my wife: "See what I told you 10 days ago? After those big investors make profit, the DOW is definitely coming down before April. It is very possible for you to see it back to 6700. Did I tell you that. A lot of people made a lot money in the last week. Now, we are going back to the basics if our government won't stir it up again."

A few days ago, I made my challenge by a loan proposal. It seems no any my fellow agent takes it serious. Okay, I am a lazy guy. Just let it be.

Well, a chance came in. A guy "Perry", not that famous TV lawyer, contact me about my notes. He claimed he control $50 mil in his portfolio. Sure everyone can put any number on his screen. I am a naturalist with open mind to look at all the alternatives, not like Hank Paulson or Obama's people who have chosen one option: to eye on big fat cats with green bucks. They shut the "eye-door", if not turn their back, to the Main Street Mr. Joe as a banker uses FICO to reject some decent citizen and laugh them out of the door.

Here is my reply to Perry last night for your reference.

Dear Perry,

You are very interesting. Maybe we can work together as a team to make more money. Tell me what your return rate you expect to get in a year. Try to see if I can do better for you than you thought.

I have my way to do business. All I care is NUMBERS, no emotions. But FICO score is almost never my major concern.

For a trust deed, so many factors are materially more important than FICO such as those basics: LTV, market value, and local market appreciation trend.

Tell you the truth I really don't trust FICO codes because I know how the establishment/ system works. I am a creative individual, not a bolt and knot in a banking mechaine. I don't have to follow a book or guideline.

I have my own way to judge a buyer's decency and safeguard my decision. For example, I had a buyer Laura who paid me off in 11 months. When I wanted to mail her my annual interest charge for tax return, I didn't know her social security number. Sure, now I have all buyers' SSN in file; but still I didn't check their credit score.

I have my ethics to do business, such as "everyone dealing with me has to be happy about the deal and feeling as a winner," i.e. any one can walk away from my deal before close of escrow no matter what reason he has and I don't even ask, even we have a binding contract.

One of my business game rules is to protect the privacy of the other party or my co-workers. I don't release my buyer's credit unless it is needed, such as a binding contract with a contingency on satisfaction of my buyer's score.

So many people, including so-called "birddogs," contacted me about this note. Unlike you, almost first thing for them is to follow book or so-called "proven formula" asking my buyer's credit score. If I gave it to them, trust me my buyer's FICO would be reduced 100 points in just few days by so many inquiries. That's not fair to my buyer/ payor. So please understand my position: unless we have a binding contract, I would not give their private information out even that is very easy for me to just look at my files. Well, so sorry to say that.

I look at you profile in ******.com in which, you claimed, you have control of $50 mil. If you do in that position, I just wonder if we can do a much bigger project, not these small notes, to make your life much easier and more profit. Say, would you give me 1 percent of you fund, $500,000 as my line of credit and we do business as car dealers do? Every time they buy and sell a car, they apply or re-pay the line of credit to release a car, case by case. I believe I could make you very happy to make a steady profit of much larger amount, under this master plan, with much lighter everyday routine email and paper work.

In addition, while I am providing 50% LTV to your credit/ loan, you are going to be proud of ourselves to know our providing social justice/ charity to the poor in need.

At this moment, just let try to do this note first. After we make some deals and you can judge me. Then we may try to do something else together even before discussing my master project that will give us a glory sense of achievement: a meaning of life.

Enclosed herewith are those info for my two properties you asked and interested. (1) For the note we discuss here: *****.com (2) for the possible note creating later: ******.com

Thank you for listening. Give me your 2 pennies if you have any question. ED

From: Perry
Subject: Re: Land contract to ****
To: et@

Date: Sunday, March 29, 2009, 5:07 PM

--- On Sun, 3/29/09, Perry wrote: Ed - I could bring you an offer muy pronto if I only had the credit info. to check on your **** payers so please try to get that info. to me as quickly as you can and the same if you will be carrying any note on the 2nd house too. I hope this message doesn't go into your 'spam' file too. Thanks, Perry

Real Estate Weekly: Lots of short sales, but they are taking a lot longer to get done "MarketWatch e-Newsletter" reports@marketwatchmail.com

*****

Well, did I say so long time ago?

As long as Obama and Gaithner keep saying they are going to buy bank's toxic notes, there is no incentive for a banker to speed up REO sales, let alone short sale. In the past week, I have observed that in some area there is no new REO listing. If there are new listings, the price is going north.

Some banker friends told me that there has been a rumor. They said Gaithner proposed to buy those notes at 70% discount. What do you think? My answer to them is use your brain to say "no such luck" as Keynes said to a crowd of reporters.

Bankers upbeat after DC meet, still want to repay TARP

By MarketWatch
Last Update: 4:07 PM ET Mar 27, 2009

WASHINGTON (MarketWatch) - Top banking CEOs emerged from a Friday meeting at the White House with President Obama saying that they are on board with the administration to do whatever they can to get the economy back on track, but that they remain anxious to pay back government investments in their firm's and end their direct ties with Washington.

Chief Executive Jamie Dimon told CNBC Friday that J.P. Morgan Chase & Co. is looking for guidance from the Treasury Department about when to repay money the bank got last year from the Troubled Asset Relief Program. He also noted that Wall Street compensation practices "went too far" and that banks made a lot of mistakes in this area.

Dimon and chief executives of several other top U.S. banks made the pilgrimage to Washington Friday for a noontime meeting with President Barack Obama to discuss ongoing risks to the financial system and a new regulatory framework.

Don't take a reporter's writing at its face value. Why those bankers went to see Obama? What they are trying to accomplish?

We as VSP have no chance as those VIP to sit in at the dinner party at White house so that we don't know what they ate. But we have a nose to smell the air to figure out what they exactly ate: a prime rib, fish or lobster, right?

We are not stupid; and we will see what comes out very soon: to insure their note position or to benefit the whole economy.