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Home › Forums › Housing › Revenge of Nostradumbass: REO auction San Diego from WSJ.

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  • August 19, 2007 at 11:22 PM #9948
    JWM in SD
    Participant

    An auction of about 135 foreclosed homes in San Diego Saturday provided more sobering news for mortgage lenders. Ramsey Su, an investor and former real-estate broker who attended, calculated that the high bids for the homes averaged 67% of the prices they fetched when they were last sold, mostly in 2004 or 2005. At a similar auction in San Diego in May, the average was 73%.

    August 19, 2007 at 11:24 PM #78186
    JWM in SD
    Participant

    Read it and weep deniers. What did I tell you about the REOs. Volume precedes price…always.

    Let fun begin………

    August 19, 2007 at 11:24 PM #78311
    JWM in SD
    Participant

    Read it and weep deniers. What did I tell you about the REOs. Volume precedes price…always.

    Let fun begin………

    August 19, 2007 at 11:24 PM #78334
    JWM in SD
    Participant

    Read it and weep deniers. What did I tell you about the REOs. Volume precedes price…always.

    Let fun begin………

    August 19, 2007 at 11:27 PM #78189
    SD Realtor
    Participant

    JWM this is good news. Is there a link to the article? Did it mention how many of the bids were accepted?

    SD Realtor

    August 19, 2007 at 11:27 PM #78314
    SD Realtor
    Participant

    JWM this is good news. Is there a link to the article? Did it mention how many of the bids were accepted?

    SD Realtor

    August 19, 2007 at 11:27 PM #78337
    SD Realtor
    Participant

    JWM this is good news. Is there a link to the article? Did it mention how many of the bids were accepted?

    SD Realtor

    August 19, 2007 at 11:30 PM #78196
    JWM in SD
    Participant

    this is from my partners in crime at Calculated Risk.

    August 19, 2007 at 11:30 PM #78320
    JWM in SD
    Participant

    this is from my partners in crime at Calculated Risk.

    August 19, 2007 at 11:30 PM #78343
    JWM in SD
    Participant

    this is from my partners in crime at Calculated Risk.

    August 19, 2007 at 11:38 PM #78199
    JWM in SD
    Participant

    Oh Yeah, Country Fried is also laying off a bunch of people too. Lots of long faces this week in Mission Valley……

    August 19, 2007 at 11:38 PM #78323
    JWM in SD
    Participant

    Oh Yeah, Country Fried is also laying off a bunch of people too. Lots of long faces this week in Mission Valley……

    August 19, 2007 at 11:38 PM #78346
    JWM in SD
    Participant

    Oh Yeah, Country Fried is also laying off a bunch of people too. Lots of long faces this week in Mission Valley……

    August 19, 2007 at 11:41 PM #78201
    temeculaguy
    Participant

    Thank goodness, my pain train theory was in jepardy and as always, it’s all about me. I was starting to think that S.D. r/e was never going to unwind. Up here I find 20-25% off peak all over and every week it lunges downward (the three car garage monitor is gaining 10% a week), yet every post I see in S.D. it resembles another country, barely translating the headlines into nominal prices. Plus JWM has been getting increasingly impatient with the home team. I need all these S.D. transplants off waiting hawk’s island and off my freeways, as soon as they can buy houses in S.D. again I’ll be able to use the freeway, be gone I say.

    August 19, 2007 at 11:41 PM #78326
    temeculaguy
    Participant

    Thank goodness, my pain train theory was in jepardy and as always, it’s all about me. I was starting to think that S.D. r/e was never going to unwind. Up here I find 20-25% off peak all over and every week it lunges downward (the three car garage monitor is gaining 10% a week), yet every post I see in S.D. it resembles another country, barely translating the headlines into nominal prices. Plus JWM has been getting increasingly impatient with the home team. I need all these S.D. transplants off waiting hawk’s island and off my freeways, as soon as they can buy houses in S.D. again I’ll be able to use the freeway, be gone I say.

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