San Diego Housing Market News and Analysis

http://www.bubbleinfo.com/2010/10/02/cop...

The cop should have just paid off the home completely from his pension.....He still would have enough left over for a few BMW's....

Har har har.

1)..What do you call a foreclosed home that is vandalized by a cop?

A pig sty... Har har har...

2)Why do some cops write so many traffic tickets?

Because someone needs to make their mortgage payments..

Har har har.

3) How does an underwater cop avoid an eviction?

He/she sign ups for a self eviction and forget to serve himself/herself.

Har har har.

4) What does the property at 35021 VIA LAGUNA and Rodney King have in common?

There was an warrant issued immediately for the beating of 35021 VIA LAGUNA....

Har har har...

5) How many underwater cops does it take to screw in a lightbulb?

One, if you can find any fixtures left...

Har har har.

6) Why do police cruisers have the battling ram/front bumper guard in front?

The easier to level his/her garage door.

Har har har

7) Why couldn't the underwater cop cuff the suspect?

The cuff keys were on the same key chain that had his keys to the home he "jingled" back to the lender...

Har har har...

Thank you thank you...Come back again tomorrow.

Quote from article: "One real estate agent said she has seen some foreclosed homes booby-trapped and even rigged to explode.
"They figure, 'How am I going to get my investment back?' -- in those cases, this is what they do," said Realtor Maria Polito."

Okay, maybe it's just me, but how does filling your pipes with concrete, booby-trapping your home, and rigging it to explode get your investment back?

Actually we had people in our development who managed to stay on in their house for over two years after foreclosure proceedings were initiated against them. They finally were forced out, but not before they had totally stripped the house. Kitchen cabinets, sinks, faucets, appliances, tile, light fixtures. Same for all four bathrooms: plumbing fixtures, faucets, cabinetry, mirrors. Took out the furnace and air conditioning units. Even removed ductwork and wiring in some areas. The house ended up selling for half of what they are typically selling for now in traditional (i.e., nondistress) sale situations.

They obviously had not paid their mortgage for a while before they received their lis pendens, and then managed to get another two house-payment free years before the ax fell. They probably made a bit from selling all the appliances and building supplies. In the meantime, the law-abiding residents here will be penalized since lenders will try to use the sale price as a comparable for future buyers.

As far as I know, they're not in jail, and they haven't been charged with anything. I watch for their names when I read through the real estate transactions. Something tells me they're going to be happy homeowners within six months.

Follow me... Take deep breathe. Breathe....Hold it in... Breathe out.... pffffffffffffffff...Breathe in........Breathe out... pfffffffffffffffffffffff..... Laugh...Ok try to laugh...Start with a small "heh"....Good...Go for two... heh heh.....Very good. You're doing very well.... Let's see if you can make it to three. Ready? heh heh heh....Excellent....Now let's work on those vocal lessons... LA LA LA LA LA LA LA LA.....

What I want to know is what happened to Super Jenae???

Let me guess. Absolutely, 100% postively, NOTHING, right?

She's on the Board of Realtors. Sadly I'm not kidding.

That's too much work. If the government would just create a program for people like me, I could get free Xanax and Valium to keep in my coffee table candy dish for moments like this.

I wonder of the reporters even check their facts with any databases? The story claims it's a Million Dollar home in Temecula. I hope the rest of the story is correct but it's not a MILLION DOLLAR HOME and it's not in TEMECULA. I was curious when I watched the story from the link, thinking this might be in my neighborhood, so I ran a little search of other news outlets and found the street is Via Laguna and it's in Winchester. A quick check of zillow and I see they were built in 2005, seem to sell for about 500k new, saw a few peak in the 6's, one or two in the 7's and can all be had for between 270k and 330k now. Looking at the map, it's near Winchester Rd and Pourry Rd, North of Lake Skinner and South of Lake Domengioni. That's North French Valley, North of Murrieta, almost Hemet. I ran a mapquest, it's a 26 minute drive from my home in Temecula, the same distance from my home to San Marcos, Vista and Escondido. Do they not let reporters use the internet? Do they still have editors or producers or news shows, is ot so hard to look at comps before declaring a home's value

So if a 300k home get's vandalized in National City, maybe the reporter can write a headline like "Million dollar home in Rancho Bernardo is vandalized." It would be just as accurate.

Actually I just found it

http://www.redfin.com/CA/Winchester/3502...

They paid 582k, some idiot at the bank loaned them another 200k probably in a heloc because it was repo'd back for 780k and you can buy it right now for 150k.

I just did more research on redfin, looked at all the sales for three years, looked the sales price history for each of them and for the most part, the homes on that street went new in 05 and 06 for about 500k, they began going down from there, by early 08 they were 400k, by late 08 the were in the low 3's and now in the 2's. Other than that house, I didn't even find one that broke 6ook. I still don't understand where they get the support to sensationize a story and call it a million dollar home?

I actually like this new math, I'm going to start telling women I have a 22 inch......forget it, even I wouldn't believe that, but then again, people believed there were million dollar homes in French Valley.

Wow. Thanks for the link, TG. Damn, those are some disturbed people.

wow, crime does pay....

deleted

I'm gonna offer 50k . Maybe that could increase the banks claimed damages they can collect the balance from the realtor

Info I was getting is he's not a patrol officer, nor traffic. Not confirmed, but somewhat speculating a copter cop.

I think it's a disgrace to decent cops out there. Yes, I know there are plenty of other people who trashed their house and got away w/it. And I do remember the guy who mowed down his house and got away w/it, claiming he was going to do a remodel and ran out of money. Short of burning the house down, people are getting away w/it.

But all of this is no excuse. A cop should be held to a higher standard and honor his uniform. And a realtor, come on. As if the realtors don't have enough blame for this bubble, they certainly don't need to go around trashing the place after they are foreclosed upon.

I mean, it's just hard for me to feel sorry for them. I just can't bring myself to do it. I can't feel sorry for stupid people when they should have known better. It bypasses stupidity and lands on the door of greed. I'm sure both these people passed math in school. They must have been able to calculate their bills and figure out if they're living w/in their means.

So in the end, I feel sorry more for all the people who did not partake in the bubble who are renting and are still getting screwed.

flu - thanks for giving me a laugh this morning!

Interesting check out ca penal code section 502.5 removal of attachments from mortgaged property punishable as larceny

Yeah I knew it was never a $1M home and it was French Valley too but didnt really think that was the point. Thos epictures from the current listing are horrific. I dont think I have ever seen that much destruction by a former owner. They are animals, plain and simple.

They plead not guilty:

http://www.pe.com/localnews/stories/PE_N...

I mean, it was totally the bank's fault, right?

I saw the video of them on the news last night. The nice couple was all dressed up, walking hand in hand into the courthouse. He was carrying a Bible. Friggin' nutjobs.

Even better, God fearing animals

Sdr: Well, History teaches us that those are the best kind, right?

If you want to really f**k shit up, just say that God told you to. That way, you can do some really heinous shit, and feel good about it.

Here's the video. He's a former Marine too.

http://www.cbs8.com/global/category.asp?...

http://www.cbs8.com/Global/story.asp?S=1...

How did he pass the psychological test? Maybe he will claim post traumatic stress from being a Marine.

Yup, "paid administrative leave" ...

After watching the videos, and reading about this, I'm really amazed that they actually did this. (I know nothing should amaze me at this point, but I'm still amazed.) Just how in the world does even a semi-lucid person think they can get away with this, and that it's somehow justifiable?

If you see some act of irrational rage, then that's one thing, but this was done over a period of time, and with some planning. Did they seriously think they had some right to just destroy a house? Did they think this would go unpunished? Did they think they were entitled to do this? What in god's name was going on in their heads as they did this? I find this totally mindboggling when you stop to think about it.

XBoxBoy.

What in god's name was going on in their heads as they did this you ask?

Misplaced anger.

I am not sure where the crime is. Vandalism is for property "any real or personal property not his or her own". If the trashing was before the sale - no crime

It depends on what he did.
For example Penal Code section 593:
"Every person who unlawfully and maliciously takes down, removes, injures, interferes with, or obstructs any line erected or maintained by proper authority for the purpose of transmitting
electricity for light, heat, or power, or any part thereof, or any insulator or crossarm, appurtenance or apparatus connected therewith, or severs or in any way interferes with any wire, cable, or current thereof, is punishable by imprisonment in the state prison, or by fine not exceeding one thousand dollars ($1,000), or imprisonment in the county jail not exceeding one year."
http://law.onecle.com/california/penal/5...

I did not look at the video to see what he did.

I don't see how he can keep his job unless they come up with some kind of psych. defense for him or his wife claims to have done all the damage.

That's what I was thinking. Does no one here remember the man who bulldozed his house?

When thinking about it, Acosta is as guilty as everyone else who trashed their house -- and there are plenty of them. So many of them that that's what prompted banks to do cash for keys.

And by no means am I condoning it. But why go after him and not all the others. Do I think he should still be a cop? No. If you're stupid enough to jeapardize your career this way, no. But should he go to jail for it? No. Not unless everyone else who trashed their house goes to jail. Along w/all the people who have committed fraud in this real estate bubble.

I don't think there's enough jail space for everyone.

Cash for keys has existed for decades and is meant to get people out of the homes they lost to foreclosure quickly, quietly and without damaging the place.

Lots of peole, have damaged homes on the way out but this was egregious by any measure. I havent seen anything close to what they did with the possible exception of Suzy Brown who stripped the Olivenhain Monster House.

No, but I'd be real happy to see the first 500,000 in jail. Let out the small time drug users if there's a space issue.

Think of it as an investment that would pay handsome dividends for decades.