_AMG_

After months and months of waiting (stupid short sales) we finally closed escrow today and the beast has a new home with a PROPER driveway (MNL_ICE you know what I'm talkin about)
Got alot of weekend projects in front of me. lol

Anyway, just wanted to share pics with you guys.
Sorry for the crappy pics and sorry for the messy garage. (previous occupants left some stuff in there)

Venoms

Congrats on the new home

REDSRT

Congrats....nice looking nest...What area, (city)

_AMG_

Thanks!

Thanks man,
Its in Toluca Lake.

Merc-Skycap

Nice, congratulations on the home!

_AMG_

Thanks Merc!

Mikegpr03

Congrats may you have many years of good times and memories to fill it with

Not to mention now you can build your man cave too

Roswell

Congrats Karl... your new garage looks so much better than your old "shed"... lol!! Enjoy your new house!!

Sirex63

I'm sure your beast is happy now with its new home.

Congrats K

Paculdo

congrats on your new home

CoolBDPhenom03

Congratulations! Buy a house was tough and a short sale...yeah, I tried that once.

BenzoBoi

Congrats homie!

When's the house warming?

TEKZILLA

Congrats mate! No easy feat with the price of LA real estate. We had so much BS with short sales and foreclosures that we took them off our list, but if you got one life is grand and godbless the recession hehehe

no loser

Congrats for new home i wish for you full happiness on it all the time God-bless you

bhamg

Great stuff...

propain

Sweet! Congrats on the new place!

Your car looks great too.

Roswell

I'm not in the real estate business, so can someone explain what is "short sale" means? TIA

propain

House was in foreclosure and bank owned.

Well not a foreclosure really... but the bank sells the house and puts whatever it gets toward the debt of the previous owner and the previous owner still has to pay the bank whatever is left...

Roswell

Thanks propain for the explanation. Now I know why the owner left some belongings in the garage. Lol

But isn't the value of the house supposed to be higher then the mortgage (debt)? Why would the owner has to pay for whatever is left? I guess the real estate market in US is still in the "crashing" mode, huh?

propain

Exactly. The house is worth less than the mortgage amount. This is why there is so many foreclosures. Most people are just walking away.

5 years ago the bank tells you "Your house is worth 1 mil" You say great "Give me 200K in my equity as a loan for improvements" Now you have lets say a 700K mortgage. 5 years later the bank now says "Your house is worth 500K but you still need to pay me 700K plus interest"

People say "Ohhh really? Fat chance" They stop paying their mortgage and hide the money away that they would be paying. In this market it can take years for a house to complete the foreclosure process because there are so many. In that time people pocket a good amount of cash and file bankruptcy. 7 years of horrible credit but they are out from under the horrible debt they were in.


“There are two ways to conquer and enslave a country. One is by the sword. The other is by debt.” - John Adams

Fung63

gratz on the new home!

any other vehicles going to share that nest with the beast? or it gets the whole thing to itself

4ramin

Congratulations on your new home!I do this for a living so I know your pain at the end it's always worth it for everyone. Enjoy it all in good health.

Case1906

Mort

Congrats, your in now.

Roswell

I believe it will be shared with the new CLS550? Lol