[quote=SD Realtor]See this is the main problem with some sites. Reading all of the aggro posts on the bubbletracking site was fairly laughable.
The couple that bought this home got a great deal compared to the comps. Do they know the market is going down? Yes. Do they know where the bottom is? No. Had they shopped for several months before they made the purchase? Of course. Does this couple have money to be able to afford the purchase? Yes. Did they simply want the home for other reasons then trying to find a bottom of the market? Yes. Did they know the market very well? Yes.
Furthermore reading the posts on bubble tracking it was especially refreshing to read all of the asian and even indian inferences. No racism there eh? None not at all.
It is freaking laughable and I have lost a good deal of respect, not for the author of the site but for the posters.
Once again, there seems to be a this stubborness by others to understand that unfortunately, there are people who live here in San Diego, who have more money then they do, and are willing to buy a home (or homes) with it. Many of these people and others like them, can actually afford to do this regardless of many factors including the economy. Yes these people make it harder for wannabe buyers like me but then I guess it sucks to be me or us. However hurling epitaphs about asians and indians sucking up carmel valley homes goes beyond stupidity and normal bitterness of being priced out of a market.
As far as what happened between the previous owners, I am not sure about that. Tell me, can you validate the information that the person that bought it from the builder sold to his girlfriend? I was wondering where this was found.
JP the Chambord Trust is the trust that was set up by the investors who bought the home at trustee sales. They ALWAYS do that when they purchase because when they flip it that limits liability to the trust. I can assure you that I KNOW WHO IS IN Chambord Trust and they are not the original owners nor are they anyone to do with them. In fact I WOULD LOVE to have been in the Chambord Trust. It is a small group.
Actually the investors were lucky. The home was in the middle of the short sale process. The lender bungled it up as usual and WHILE the process was happening someone forgot to postpone the NOT. The listing agent was boned and caught by surprise. Tough beans for them. The investors did well.
I had posted a few months back about some excellent opportunities of trustee sales but I guess not many people got the hint.
I understand where you are coming from but try not to believe everything you see or read on the net. Also what WILL be more enraging to me are the fact that owners like these may/could/will get bailed out. [/quote]
You know SDR, if I wasn’t such a clown and so damn opinionated here on this blog, I would have actually wanted to know you in person. Simply because, you seem to be one of the few people that are pretty well connected in what’s going on in the RE market, and I could have used some of those hints in the trustee sales information. At this point, I only wish I could have been more quiet and subtle around here so that I could sought more of your insight into these trustee sales. Sometimes when your personality on a blog takes a life of it’s own, it’s sort of embarrassing to be in person 🙂
Regarding the asian/indian comments…
Anyway, I think actually ocrenter is asian…The comments about the “asian/indians” are clueless about the housing market….Well, it might be partly true…But like you said, some don’t try to calculate to the last penny when it comes to the primary, because again it’s the entire family/kid first thing again…
Pardon the ignorance jpinpb and SDR, can you explain how this particular trustee say went down if more info is available? I’m kind of curious. that $690k sale was a steal…
