 | ||||||
San Diego Housing Bubble News and Analysis |
||||||
~Navigation~~User login~~RSS~ |
TG closes escrowUser Forum Topic
Submitted by temeculaguy on December 14, 2008 - 9:02am
It's over, no hitches, time for a victory lap. I'm painting walls and fixing things, many, many things. I've been to Home Depot nine times in six days, I think their stock should rise after they tally my purchases. Buying a repo, even a two year old one, can be trying at times. How do people break multiple light switches (actually crack the rocker) in such a short time? I think "The Hulk" lived there. Anyway, I met TemekuT and her husband, they welcomed me to their hood and stopped by the other day, they are very nice people. I spotted the missing BBQ grill and chandelier in my neighbor's yard and Temeku tells me they are in escrow for a short sale, so I will be making a cash offer for the return of stripped items and I may even make an offer for their shutters if they don't already have my window coverings in their garage. So here are the details, 3250 sq ft, 270k (plus 5k in extra closing credit, so 265k net), 5br, 4 full baths, 3 car garage. It sold new for just over 600k in 2006, I believe the loan was 660k. It's hard to determine pricing by year snce it was just built but I say 2001 is about right based on a few factors. There are smaller ones in escrow in the tract for 300-330k, I think I broke the 300k mark for the tract and since I have the best view, I'm silly proud of myself. I caught a butter knife. My mortgage is equivalent after tax deductions to the rent of my previous 1600 sq ft condo, thanks to the interest rates tanking after I entered escrow. So here is how I pulled it off. I'll call it "fast and furious." I got pre-approved, had my cash in place and scoured foreclosure.com but didn't pay the service fee. Tracked the nods, walked the street after spotting the nod, saw the "no trespassing sign" and called the contact number. I figured out who the listing agent would be by calling that number and just happened to call them the day it was supposed to go into the mls and get a sign. Met the realtor there immediately (37 minutes later), walked through it and wrote a check and an offer. The next morning I finished off all the paperwork and used a scanner to e-mail all signed docs instantly. By 9 am, the bank was looking at my offer and my check. It had gone into the mls about the time I was looking at it and many other were visiting it or planning visits, probably mulling over offers. My offer was just a tad over the asking price, I used my e-bay stradegy. While others were contacting their agents or having their spouse check it out, the bank approved my offer, they just wanted to be rid of it. I found that after my offer was accepted and I was firmly in escrow, 8 more offers came in at over 300k, but they were too late. So that's how I spent my summer vacation.
|
~Finance and investing~*Investment advisory services and securities offered through Girard Securities, Inc., member SIPC/FINRA. ~Recent articles~~Active forum topics~
Sponsored Links
~San Diego median home $/sq.ft.~
|
||||
| © 2004-2008 piggington enterprises llc | terms of use | privacy policy | powered by Drupal | ||||||
 |  |  | ||||
Congratulations, welcome back to the world of home ownership. I know what you mean about the Home Depot thing, the house I bought didn”t actually need any work but in 3 months I’ve managed to spend close to $20,000 on "upgrades".
Be sure to watch your mail for the free pizza coupon we send to all new home owners.
I'm taken aback by the neighbor having your bbq and chandelier. How did they get it? I would do a little probing before any cash offer on those things is made. How about an offer to not call the cops? Maybe they stole those things. Can't prove it but might put some fear into them. Well, I hope your neighbor is nice. Best not to take a confrontational approach.
Nostra, according to TemekuT who lives nearby, before my place was vacated there was a weekly garage sale. More than likely they bought it, perhaps they had aspirations of building their own bbq island before they got behind in their payments. It's all good, I bought it knowing what was missing, the panel door and sink were still there and are made by firemagic, I priced a grill from them that fit's the hole and it's 2-3k, so a few hundred would be fantastic. I introduced myself yesterday, I'll drop off some wine in a few days as a Christams gift and then casually ask if they wan't to sell the BBQ a day or two later. They seemed nice but they won't be there too long, their short sale will either go through or they will get foreclosed on. Maybe I'll pull a similar stunt, I'll buy everything from that house at a garage sale just before it closes and sell it to the next owner. Maybe I'll leave a ransom note that reads "I have your doorknobs and plantation shutters, meet me in the park at 8 sharp, come alone"
temeculaguy, congrats on closing. Hopefully, I'll be able to join you soon.
Oops TG, I think it's the house on the other side. I will check out the address the next time I drive by and tell you for sure which place has a SS in progress. Don't mention the SS to the neighbors just yet until I have a chance to confirm.
I wouldn't be shocked if the BBQ "walked" next door; word on my street (actually viewed) is that the house you first were going to buy acquired a fountain from another REO on my street. An REO on Kornell St. had all mature landscaping removed one night, but that was probably a good thing since the former owners had quit watering the lawn long before they left, so I like to imagine the tree thief was performing an act of mercy for the poor greenery.
TG
Check the wine thread I've got a killer find. That is if you can find it.
sdr
Do you have kids?
"You're going to sleep! NOW!" CLICK!
Congratulations.
Temeku, I got the skinny on the neighbors. Both sides of me are related to each other (unsure if either are short selling) but they are both behind in property taxes. The bbq possesor is behind 20k+ and the other side is down 12k+, that doesn't include the payment due last week. Numbers like that don't last, especially with loans in excess of 500k and values in the high 2's. I did learn that they were all friends with my pad's previous owner who was moving to an apartment or something small and couldn't take anything with them. Patio furniture, doorknobs, plantation shutters, bbq, chandelier and even the damn little door stopper twanger thingies were pilfered in the night on the eve of foreclosure, with the permission of the owner. The place was never a rental, it looked like one because I think four or five interelated families occupied three adjoining houses. Almost the entire ten house street has or will be repo'd in a 12 month span, I'm the 5th, with two more coming and one in escrow.
Supposedly all my gear was for sale at a garage sale three weeks ago and didn't sell. My plantation shutters are actually mounted in their house. I use the word "my" loosely, it wasn't mine and I wouldn't have gotten the price I got had it not been stripped. I made a vauge offer through their friend to finance their christmas for the safe return of the stuff. I'd like to pay less than half of the cost for me to replace it, which I already budgeted for and built into the sales price. I know that two of the ten are in the process of shorts, two away on both sides. It's gonna be fun, it's like a whole new street. I play my cards right and I'll have five chandeliers.
I did see that fountain on the one I didn't get a few months back, come to think of it, they may be related to my future ex neighbors. For all the predictions of the area going to hell in the aftermath of the foreclosure bomb, the opposite is coming true, the section 8 types are the ones getting ejected.
Nice theory Blissful, however, how do you explain the laundry room, dining room and masterbath (all broken)? I think someone had a hook for a hand and had those superhero attachments, which included a hammer attachment. All told it was only a ten dollar fix but jeez louise, easy does it, the light wont shine any brighter by hitting it.
I must be the only one out there who pays retail for everything, despite my best efforts...
While other interested parties were contacting Realtors or whatever, TG was making the move.
And I believe there were 8 offers on the house? That suggests to me that it's still a sellers market, and mortgage money is still easy to get.
If the house is priced right, there will be multiple offers. The house I'm in escrow with also have 9 other offers.
Plenty of demand out there once the price is right.
Congrats tg! I'm waiting patiently to hear back on my offer - wish me luck! I'm not going to get as good as a deal as you did, but I'm not handy and can't deal with a fixer!
TG what is it that you do for a living that makes you feel confident enough to buy a home in this market?
Josh
I believe he's a rubber nipple salesman
Not that anyone cares what I think, but when I read the original post my BS alarm started going off.
In Temecula and in recent history, I have never heard of a bank not waiting at least a couple of weeks before accepting/considering offers.
I think he is a professional wine taster.
What ever his day job is, I bet he flies through air in his off hours in a spandex suit with TG proudly emblazened on his chest as a Super Hero.
BTW TG,
Please tell me you called the Wine Club and got some of that Columbia Crest. When my buddy went to pick mine up the next day, they still had stock.
What makes you think he has a day job?
Congratulations, TG!
It sounds like you did very well for yourself, and you should have many happy years in your new home. :)
The pic above is the view from my desk, you can kinda see piggington on the monitor.
sdrealtor, I didn't call, my loss, I'll just have to drink yours when I see you. I was so busy this week, it rained both the days I chose to rent a truck and everything took more time than expected. Whoever invented the "upstairs laundryroom" was both a genius and a lunatic. I didn't hire movers or painters, did it all myself. Halfway up the stairs with the washing machine, my 20 year old mind was reminded that my body is over 40.
About my vocation, I am Batman, hence the secrecy.
paramount, there's no need for your BS alarm to go off, everything was legit. I wasn't friends with or related to the listing agent, it was a combination of luck, timing and planning. Not only have I heard of banks taking the first offer over list, they do so more often than not. Banks aren't emotional, they don't sit around and wait weeks for the highest offer (this applies to bank owned, not short sales). They listed my place for a little under 270k, I offered 270k and had my loan approval/proof of funds ready to go, it is all about speed. They answered within 24 hours and in that time only two other offers came in which were below list. The interest rate was high those two days, the weather was bad and it was a Monday. By the time people got around to looking at it a few days later, they had already accepted my offer. I can also verify my residency, TemekuT has already stopped by. When I throw the first party, I'll have my deed on display.
TG
I got you covered. Send Alfred by to pick it up. Better yet, send Batgirl.
sdr
Fantastic view. You picked a winner, TG!
By the way, for those who couldn't view the picture embedded in the text, try the following link:
http://piggington.com/desk_view
thanks carlsbad, I never posted a pic and I guess I goofed it up. I have bunch more but I posted that one depicting the monitor displaying piggington, like kidnappers hold up today's newspaper.
formerly little lady
Congratulations! Happy Holidays and GOOD LUCK!
TG, I'll bring the disposable plastic wine glasses to the party ;)
If you'd like some 50's retro food, I volunteer to bring the best casserole junk food I've ever sampled at Temecula Trader Joe's - the recipe uses Ritz Crackers, cheddar cheese, and canned pineapple...sounds awful, but I brought it to a party last year and the crowd inhaled it while they reminisced about Mom, Auntie June, Grandma etc. making the same dish. How can you go wrong with sugar, salt, white flour, and fat, all warm and salty-sweet, and tangy?
Paramount, my contacts tell me of are several instances in Temecula where people picked up a property from the plethora of REO's simply because they were first in line. Perhaps the banks are realizing they'd be better off dumping the properties than holding out for 10K more. TG did score, what a price!
hello tg...i enjoy reading your posts - thanks.
question re: your tracking method
like you i am all for gathering info on the cheap, preferably free. from what i see, foreclosure dot com gives you a street name/price/property type but no address. care to share how you were able to ween specific addresses from this source or where you got your nod lists from?
Nice View TG !!!
Congrats again.
Is that Russia?