39 out of 88 active listings in Carmel Valley for attached are being sold underwater.

[Coronita]

I should also add, that if you take a look at the above jpgs, it's evident that a good portion of the underwater folks are some notable attached communities" Pell Place, Carmel Pointe, and the "name-escapes me" complex off of Carmel Country Rd which i believe was also a condo convert.

If the above info doesn't scare you off from looking in the attached home market in CV, you might want to consider avoiding those communities with a high # of sellers underwater , as most likely your HOA dues are going to go up significantly in the future imho if these folks end up defaulting and getting foreclosed, making it relatively more expensive than other communities with lesser hoas, which would only seem to logically cause the value of those communities to fall even lower, which inevitability will make those communities even less attractive.

There''s probably a more room for negotiation with the handful of sellers that purchased at the really low prices back 10+years, albeit you're stuck with an older community. Examples such as #38,39,40.

 

And yes, there are a small handful (roughly 3-4) listings that purchased in 2006 and even as late as 2007 and appear to be attempting to flip.

 

[patb]

did you run the stats for listings that are less then 6 percent
above the purchase price?

because without assessing transaction fees, you can’t
see who is losing on the transaction

[patb]

did you run the stats for listings that are less then 6 percent
above the purchase price?

because without assessing transaction fees, you can’t
see who is losing on the transaction

[patb]

did you run the stats for listings that are less then 6 percent
above the purchase price?

because without assessing transaction fees, you can’t
see who is losing on the transaction

[patb]

did you run the stats for listings that are less then 6 percent
above the purchase price?

because without assessing transaction fees, you can’t
see who is losing on the transaction

[patb]

did you run the stats for listings that are less then 6 percent
above the purchase price?

because without assessing transaction fees, you can’t
see who is losing on the transaction

[Bugs]

The thing to remember is that the rate of sales for the area since 11/2007 was only about 15 units/month.

Going forward, it’s likely that some of those short sales will make their way into foreclosure. Given enough time and enough foreclosures, the pain train (tm 2007 by TG) will pull into this zip and those foreclosures will end up driving that market, too.

It’s all connected. Even Carmel Valley.

[Bugs]

The thing to remember is that the rate of sales for the area since 11/2007 was only about 15 units/month.

Going forward, it’s likely that some of those short sales will make their way into foreclosure. Given enough time and enough foreclosures, the pain train (tm 2007 by TG) will pull into this zip and those foreclosures will end up driving that market, too.

It’s all connected. Even Carmel Valley.

[Bugs]

The thing to remember is that the rate of sales for the area since 11/2007 was only about 15 units/month.

Going forward, it’s likely that some of those short sales will make their way into foreclosure. Given enough time and enough foreclosures, the pain train (tm 2007 by TG) will pull into this zip and those foreclosures will end up driving that market, too.

It’s all connected. Even Carmel Valley.

[Bugs]

The thing to remember is that the rate of sales for the area since 11/2007 was only about 15 units/month.

Going forward, it’s likely that some of those short sales will make their way into foreclosure. Given enough time and enough foreclosures, the pain train (tm 2007 by TG) will pull into this zip and those foreclosures will end up driving that market, too.

It’s all connected. Even Carmel Valley.

[Bugs]

The thing to remember is that the rate of sales for the area since 11/2007 was only about 15 units/month.

Going forward, it’s likely that some of those short sales will make their way into foreclosure. Given enough time and enough foreclosures, the pain train (tm 2007 by TG) will pull into this zip and those foreclosures will end up driving that market, too.

It’s all connected. Even Carmel Valley.

[Coronita]

did you run the stats for listings that are less then 6 percent
above the purchase price?

because without assessing transaction fees, you can't
see who is losing on the transaction

No, the 39 instances are clearly below previous purchase price.

There are quite a but more that are selling less than 6percent above purchase price, but I didn't include those, which would make the percentage of actives underwater closer to 50%. You can do that as an exercise though 🙂

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

did you run the stats for listings that are less then 6 percent
above the purchase price?

because without assessing transaction fees, you can't
see who is losing on the transaction

No, the 39 instances are clearly below previous purchase price.

There are quite a but more that are selling less than 6percent above purchase price, but I didn't include those, which would make the percentage of actives underwater closer to 50%. You can do that as an exercise though 🙂

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

did you run the stats for listings that are less then 6 percent
above the purchase price?

because without assessing transaction fees, you can't
see who is losing on the transaction

No, the 39 instances are clearly below previous purchase price.

There are quite a but more that are selling less than 6percent above purchase price, but I didn't include those, which would make the percentage of actives underwater closer to 50%. You can do that as an exercise though 🙂

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

did you run the stats for listings that are less then 6 percent
above the purchase price?

because without assessing transaction fees, you can't
see who is losing on the transaction

No, the 39 instances are clearly below previous purchase price.

There are quite a but more that are selling less than 6percent above purchase price, but I didn't include those, which would make the percentage of actives underwater closer to 50%. You can do that as an exercise though 🙂

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Author]

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