4S Ranch REO–still too high

[Nancy_s soothsayer]

I wish Karl Rove moves from Central Texas to 4-Closure Ranch because as a boy-genius he might be able to help solve the problem of the spent-plutonium-infused kool-aid from Moab, Utah showering the lawns over there.

[Nancy_s soothsayer]

Could there be a children’s nursery rhyme dedicated to the boatloads of homedebtors in 4-Closure ranch (Sienna Ridge) who bought their albatross in 2005? Might it go something like this:

Row, row, row your debt
Gently down the stream
Merrily, merrily – to the money pit
House is but a DRAIN!

After October 2009, those 2005 buyers with vaporized net worth would wake up to harsh reality and find themselves toiling as serfs to enormous long-term debts. Deflated values up to 50% off become obvious.

[Nancy_s soothsayer]

Could there be a children’s nursery rhyme dedicated to the boatloads of homedebtors in 4-Closure ranch (Sienna Ridge) who bought their albatross in 2005? Might it go something like this:

Row, row, row your debt
Gently down the stream
Merrily, merrily – to the money pit
House is but a DRAIN!

After October 2009, those 2005 buyers with vaporized net worth would wake up to harsh reality and find themselves toiling as serfs to enormous long-term debts. Deflated values up to 50% off become obvious.

[Nancy_s soothsayer]

Could there be a children’s nursery rhyme dedicated to the boatloads of homedebtors in 4-Closure ranch (Sienna Ridge) who bought their albatross in 2005? Might it go something like this:

Row, row, row your debt
Gently down the stream
Merrily, merrily – to the money pit
House is but a DRAIN!

After October 2009, those 2005 buyers with vaporized net worth would wake up to harsh reality and find themselves toiling as serfs to enormous long-term debts. Deflated values up to 50% off become obvious.

[temeculaguy]

The world is really upside down, because appear to be in the bull position here. The housing bulls deserve a reality check when they drop in but it doesn’t mean bears can just shoot off without any support for their arguments either. Texas is way cheaper, homes should return to under 200k, the median income doesn’t support it. Platitudes and cliches, bull or bear, pony up some support for your arguments and I can be swayed. There will may very well be very modest homes for sub 200k, but a median of 70k includes the 30-40% of the people who shouldn’t buy a house and this whole thing started regarding the future price of a home that is not a median home and not in a median area. My point is that 30% off peak is a reasonable guess, 50% off peak is a stretch but not impossible, but 30 or 40 cents on the dollar, good luck with that too. I just see too many people with over a 100k incomes that have been licking their chops for this area and a few others demographicaly similar, there are enough posters on this site that would keep 4-s from more than a 50% nominal drop, I doubt they could control themselves if it goes down another 100 to 200k they way they talk. 4-S will not lose 5% while Temecula and Chula Vista lose 50%, but it doesn’t mean it will be an equal percentage, Those three areas were heavily built and financed in the bubble so the are the most suceptible but they are not equal, 4-s still has a greater appeal and if the repo bargains for the really big ones ever were to hit 400k, the refugees that sold and moved out of state will be back so you better be quick. My final answer is that that house will never go below 500k, final answer, prove me wrong with some facts other than we will be selling apples on the corner scenario.

[temeculaguy]

The world is really upside down, because appear to be in the bull position here. The housing bulls deserve a reality check when they drop in but it doesn’t mean bears can just shoot off without any support for their arguments either. Texas is way cheaper, homes should return to under 200k, the median income doesn’t support it. Platitudes and cliches, bull or bear, pony up some support for your arguments and I can be swayed. There will may very well be very modest homes for sub 200k, but a median of 70k includes the 30-40% of the people who shouldn’t buy a house and this whole thing started regarding the future price of a home that is not a median home and not in a median area. My point is that 30% off peak is a reasonable guess, 50% off peak is a stretch but not impossible, but 30 or 40 cents on the dollar, good luck with that too. I just see too many people with over a 100k incomes that have been licking their chops for this area and a few others demographicaly similar, there are enough posters on this site that would keep 4-s from more than a 50% nominal drop, I doubt they could control themselves if it goes down another 100 to 200k they way they talk. 4-S will not lose 5% while Temecula and Chula Vista lose 50%, but it doesn’t mean it will be an equal percentage, Those three areas were heavily built and financed in the bubble so the are the most suceptible but they are not equal, 4-s still has a greater appeal and if the repo bargains for the really big ones ever were to hit 400k, the refugees that sold and moved out of state will be back so you better be quick. My final answer is that that house will never go below 500k, final answer, prove me wrong with some facts other than we will be selling apples on the corner scenario.

[temeculaguy]

The world is really upside down, because appear to be in the bull position here. The housing bulls deserve a reality check when they drop in but it doesn’t mean bears can just shoot off without any support for their arguments either. Texas is way cheaper, homes should return to under 200k, the median income doesn’t support it. Platitudes and cliches, bull or bear, pony up some support for your arguments and I can be swayed. There will may very well be very modest homes for sub 200k, but a median of 70k includes the 30-40% of the people who shouldn’t buy a house and this whole thing started regarding the future price of a home that is not a median home and not in a median area. My point is that 30% off peak is a reasonable guess, 50% off peak is a stretch but not impossible, but 30 or 40 cents on the dollar, good luck with that too. I just see too many people with over a 100k incomes that have been licking their chops for this area and a few others demographicaly similar, there are enough posters on this site that would keep 4-s from more than a 50% nominal drop, I doubt they could control themselves if it goes down another 100 to 200k they way they talk. 4-S will not lose 5% while Temecula and Chula Vista lose 50%, but it doesn’t mean it will be an equal percentage, Those three areas were heavily built and financed in the bubble so the are the most suceptible but they are not equal, 4-s still has a greater appeal and if the repo bargains for the really big ones ever were to hit 400k, the refugees that sold and moved out of state will be back so you better be quick. My final answer is that that house will never go below 500k, final answer, prove me wrong with some facts other than we will be selling apples on the corner scenario.

[JWM in SD]

Sorry TG, you are not seeing the forest for the trees right now. There are three things you will need in the next several years: Savings in cash or equivalents, No debt and a high paying documentable job to enable the savings.

Remember what happened after Enron and Worldcom??? I’ll give you a hint: Sarbanes and Oxley. That pendulum swung pretty far to opposite direction after that. The credit implosion makes Enron and Worldcom look you are pissing in Lake Michigan relatively speaking. You tell me what you think is going to happen ultimately with credit standards in the next few years???? I suspect they will get really really tight and 100K earners better have a lot more than their salary history in order to buy.

[JWM in SD]

Sorry TG, you are not seeing the forest for the trees right now. There are three things you will need in the next several years: Savings in cash or equivalents, No debt and a high paying documentable job to enable the savings.

Remember what happened after Enron and Worldcom??? I’ll give you a hint: Sarbanes and Oxley. That pendulum swung pretty far to opposite direction after that. The credit implosion makes Enron and Worldcom look you are pissing in Lake Michigan relatively speaking. You tell me what you think is going to happen ultimately with credit standards in the next few years???? I suspect they will get really really tight and 100K earners better have a lot more than their salary history in order to buy.

[JWM in SD]

Sorry TG, you are not seeing the forest for the trees right now. There are three things you will need in the next several years: Savings in cash or equivalents, No debt and a high paying documentable job to enable the savings.

Remember what happened after Enron and Worldcom??? I’ll give you a hint: Sarbanes and Oxley. That pendulum swung pretty far to opposite direction after that. The credit implosion makes Enron and Worldcom look you are pissing in Lake Michigan relatively speaking. You tell me what you think is going to happen ultimately with credit standards in the next few years???? I suspect they will get really really tight and 100K earners better have a lot more than their salary history in order to buy.

[temeculaguy]

JWM, maybe you are right. I have made my preparations, I have all three, i just have a “hold you horses” attitude when it comes to some of the earth shattering expectations. Perhaps I am equating my personal circle of friends and co-workers and thinking there are more people who have done the same when in fact there might not be. I guess we will see. I have been suprised before.

[temeculaguy]

JWM, maybe you are right. I have made my preparations, I have all three, i just have a “hold you horses” attitude when it comes to some of the earth shattering expectations. Perhaps I am equating my personal circle of friends and co-workers and thinking there are more people who have done the same when in fact there might not be. I guess we will see. I have been suprised before.

[temeculaguy]

JWM, maybe you are right. I have made my preparations, I have all three, i just have a “hold you horses” attitude when it comes to some of the earth shattering expectations. Perhaps I am equating my personal circle of friends and co-workers and thinking there are more people who have done the same when in fact there might not be. I guess we will see. I have been suprised before.

[Coronita]

An all brick-sided, picket-fence walled 4,000 sq-ft brand new house with granite kitchen and half-acre yard in Central Texas can be had for $250,000 currently. There are green meadows, sunshine, and plenty of spring waters to go with that. Give or take $200,000 for the weather-and-surfing tax, the same San Diego house should only add up to $450,000 for comparison. Anything above that should be outrageous. After all, you don't want to overpay for the trickle of undiluted water from the Colorado river infused with Moab, Utah's toxic dumpsite kool-aid watering the 4-Closure lawns.

 

Uh, yes but it's hill-billie texas. Hey, I can say that because I was born there. 

[Coronita]

An all brick-sided, picket-fence walled 4,000 sq-ft brand new house with granite kitchen and half-acre yard in Central Texas can be had for $250,000 currently. There are green meadows, sunshine, and plenty of spring waters to go with that. Give or take $200,000 for the weather-and-surfing tax, the same San Diego house should only add up to $450,000 for comparison. Anything above that should be outrageous. After all, you don't want to overpay for the trickle of undiluted water from the Colorado river infused with Moab, Utah's toxic dumpsite kool-aid watering the 4-Closure lawns.

 

Uh, yes but it's hill-billie texas. Hey, I can say that because I was born there. 

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