40%+ loss in Oceanside

[Rockemsock]

I’m guessing there are even more of these, but this particular model is one that a friend is interested in. I can’t help but think that it will go lower…especially after reading that 60% off temecula post. I know Oceanside isn’t Temecula, but i bet the must sell inventory around this neighborhood is rising quickly.

http://www.redfin.com/stingray/do/listings-search#search_location=2720%20NORMA%20STREET,%20oceanside,%20ca&residential=true&condo=true&min_price=&max_price=&num_beds=&num_baths=&time_on_market_range=-&min_listing_approx_size=&max_listing_approx_size=&sold_within_months=0&min_parcel_size=&max_parcel_size=&min_year_built=&max_year_built=&status=1&lat=33.198597000000014&long=-117.28371100000001&zoomLevel=17&parcel_id=4594198&currentLocation=2720%20NORMA%20STREET,%20oceanside,%20ca&disp_mode=B&market=socal

4/3 1941sf
last sale $455k 7/04
2720 Norma St.
Oceanside,

[Ozzie]

The loss is for the bank because that’s a short sale. They owe about $500,000. How that place ever sold for $455k in 2004 is beyond me. You could have bought a 70’s built house in La Costa for that price or a little more back then and it would be worth about the same today.

I did a search of that ‘hood and looked at 2004 sales. There were over 20 and of those abut 95% were hispanic (I’ll venture their mortgage brokers were as well) with no money down or less than 5%. About 3/4’s of those have refi’d for more than they inflated sold price of 2004 so that area is a ticking timebomb. Several NOD’s and a couple already foreclosed.

If a college student is interested in writing a thesis about the subprime lending bubble that would be a perfect area for research.

[Ozzie]

The loss is for the bank because that’s a short sale. They owe about $500,000. How that place ever sold for $455k in 2004 is beyond me. You could have bought a 70’s built house in La Costa for that price or a little more back then and it would be worth about the same today.

I did a search of that ‘hood and looked at 2004 sales. There were over 20 and of those abut 95% were hispanic (I’ll venture their mortgage brokers were as well) with no money down or less than 5%. About 3/4’s of those have refi’d for more than they inflated sold price of 2004 so that area is a ticking timebomb. Several NOD’s and a couple already foreclosed.

If a college student is interested in writing a thesis about the subprime lending bubble that would be a perfect area for research.

[Ozzie]

The loss is for the bank because that’s a short sale. They owe about $500,000. How that place ever sold for $455k in 2004 is beyond me. You could have bought a 70’s built house in La Costa for that price or a little more back then and it would be worth about the same today.

I did a search of that ‘hood and looked at 2004 sales. There were over 20 and of those abut 95% were hispanic (I’ll venture their mortgage brokers were as well) with no money down or less than 5%. About 3/4’s of those have refi’d for more than they inflated sold price of 2004 so that area is a ticking timebomb. Several NOD’s and a couple already foreclosed.

If a college student is interested in writing a thesis about the subprime lending bubble that would be a perfect area for research.

[Ozzie]

The loss is for the bank because that’s a short sale. They owe about $500,000. How that place ever sold for $455k in 2004 is beyond me. You could have bought a 70’s built house in La Costa for that price or a little more back then and it would be worth about the same today.

I did a search of that ‘hood and looked at 2004 sales. There were over 20 and of those abut 95% were hispanic (I’ll venture their mortgage brokers were as well) with no money down or less than 5%. About 3/4’s of those have refi’d for more than they inflated sold price of 2004 so that area is a ticking timebomb. Several NOD’s and a couple already foreclosed.

If a college student is interested in writing a thesis about the subprime lending bubble that would be a perfect area for research.

[Ozzie]

The loss is for the bank because that’s a short sale. They owe about $500,000. How that place ever sold for $455k in 2004 is beyond me. You could have bought a 70’s built house in La Costa for that price or a little more back then and it would be worth about the same today.

I did a search of that ‘hood and looked at 2004 sales. There were over 20 and of those abut 95% were hispanic (I’ll venture their mortgage brokers were as well) with no money down or less than 5%. About 3/4’s of those have refi’d for more than they inflated sold price of 2004 so that area is a ticking timebomb. Several NOD’s and a couple already foreclosed.

If a college student is interested in writing a thesis about the subprime lending bubble that would be a perfect area for research.

[Blissful Ignoramus]

I was going to say…Oceanside might not be Temecula, but only if you can throw a rock and hear it go “plunk” in the ocean.

[Blissful Ignoramus]

I was going to say…Oceanside might not be Temecula, but only if you can throw a rock and hear it go “plunk” in the ocean.

[Blissful Ignoramus]

I was going to say…Oceanside might not be Temecula, but only if you can throw a rock and hear it go “plunk” in the ocean.

[Blissful Ignoramus]

I was going to say…Oceanside might not be Temecula, but only if you can throw a rock and hear it go “plunk” in the ocean.

[Blissful Ignoramus]

I was going to say…Oceanside might not be Temecula, but only if you can throw a rock and hear it go “plunk” in the ocean.

[sdrealtor]

Show me a 70’s La Costa house that sold for 450 in 2004. Dont try to pass any of those Shady Hollow detached condos off as one either. The lowest sale I could find was 496 for a 2b/2ba house.

[sdrealtor]

Show me a 70’s La Costa house that sold for 450 in 2004. Dont try to pass any of those Shady Hollow detached condos off as one either. The lowest sale I could find was 496 for a 2b/2ba house.

[sdrealtor]

Show me a 70’s La Costa house that sold for 450 in 2004. Dont try to pass any of those Shady Hollow detached condos off as one either. The lowest sale I could find was 496 for a 2b/2ba house.

[sdrealtor]

Show me a 70’s La Costa house that sold for 450 in 2004. Dont try to pass any of those Shady Hollow detached condos off as one either. The lowest sale I could find was 496 for a 2b/2ba house.

[Author]

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