Went back to beneficiary June 2008 for 428k. Purchased by investors for 390k in February. The homes in Huntington are squeezed in way way tight. I am sure the investors will make money on this deal but I am quite doubtful they will fetch asking price.
HOWEVER in this crazy market anything can happen. I certainly wouldn't this price.
Owner of 10861 Caminito Alto, San Diego ca. 92131 since 1992 till Nov 2008 property is defect roof and west wall include all windows on west and some on south must replace to sell it as of real estate law and rules.
Cost of repair and replace is over $110,000 (at least) which means almost half of original price we bought on June 1992 for $219,750.00 check San Diego county recorder.
Defect is not repairable or not cost effective to do anything as of market and ....
Good Luck
Submitted by SD Realtor on July 29, 2009 - 10:13pm.
Well stopitnow, he got his number from the fact that you, or whoever owned the home purchased it in 1992 for a price of 217k. Over the years you, or whoever owned it then did several refinance activities culminating in your, or whoever owns it, refinance back in 2006 for a first mortgage of 514k and a second mortgage of 96k. So lets see, you started with 390k and ended with over 600k. So somewhere you either pocketed well over 350k or you spent it on something. Obviously with the shape of the home in as bad a condition as you made it out to be, you certainly didn't spend it on upkeep.
Submitted by SD Local on August 2, 2009 - 10:49am.
Hi stopitnow,
Can you say a little more about the damage and the repairs at this property? What was the damage caused by, exactly, and did you do the repairs (or did someone else)?
stopitnow...
So you refi'd your original mortgage, took out $200K cash, and then walked?
uh.... what is wrong with that ?
I thought that is called "investing", no ?
It is fool some banks (or investors) think residential mortgage securities couldn't go wrong. OTOH, it is smart for him to take equity out before it is too late.
I don't really know either, but could that be the price the bank paid to repossess the house?
Looks like some bad leaks from the roof. Here are pics of the place before the lipstick was put on. http://www.sdlookup.com/Pictures-080082998
Went back to beneficiary June 2008 for 428k. Purchased by investors for 390k in February. The homes in Huntington are squeezed in way way tight. I am sure the investors will make money on this deal but I am quite doubtful they will fetch asking price.
HOWEVER in this crazy market anything can happen. I certainly wouldn't this price.
Owner of 10861 Caminito Alto, San Diego ca. 92131 since 1992 till Nov 2008 property is defect roof and west wall include all windows on west and some on south must replace to sell it as of real estate law and rules.
Cost of repair and replace is over $110,000 (at least) which means almost half of original price we bought on June 1992 for $219,750.00 check San Diego county recorder.
Defect is not repairable or not cost effective to do anything as of market and ....
Good Luck
stopitnow...
So you refi'd your original mortgage, took out $200K cash, and then walked?
Around 3:06 a.m. you asked and here is your answer :
Where you got $200K ?? Who you Ended with such number !! REALLY
Well stopitnow, he got his number from the fact that you, or whoever owned the home purchased it in 1992 for a price of 217k. Over the years you, or whoever owned it then did several refinance activities culminating in your, or whoever owns it, refinance back in 2006 for a first mortgage of 514k and a second mortgage of 96k. So lets see, you started with 390k and ended with over 600k. So somewhere you either pocketed well over 350k or you spent it on something. Obviously with the shape of the home in as bad a condition as you made it out to be, you certainly didn't spend it on upkeep.
Hi stopitnow,
Can you say a little more about the damage and the repairs at this property? What was the damage caused by, exactly, and did you do the repairs (or did someone else)?
So you refi'd your original mortgage, took out $200K cash, and then walked?
uh.... what is wrong with that ?
I thought that is called "investing", no ?
It is fool some banks (or investors) think residential mortgage securities couldn't go wrong. OTOH, it is smart for him to take equity out before it is too late.