A post on Housing

[lonestar2000]

There’s still an awful lot of job losses to work through, and many have lost a bundle on the stock markets this year, so I don’t think we’re that close. Even if we reach a bottom of sorts, you’ll have plenty of time to snuff out the house you want, there’s nothing to indicate that we’ll have a quick turnaround into positive appreciation.

[Coronita]

Guess who are back on the market in CV?

Pardee Saratoga….

http://www.sdlookup.com/MLS-081025123-10687_Heather_Ridge_Dr_San_Diego_Ca_92130

http://www.sdlookup.com/MLS-086027573-5241_Brickfield_Ln_San_Diego_Ca_92130

Also, public records indicate (unrelated to above sales) in these pardee communities… although, as indicated before, default status doesn’t necessarily indicate financial duress.

1 Person has defaulted on $28k in prop tax
1 Person has defaulted on $10k in prop tax
1 Person has defaulted on $19k in prop tax
1 Person has defaulted on $13k in prop tax

[Coronita]

Guess who are back on the market in CV?

Pardee Saratoga….

http://www.sdlookup.com/MLS-081025123-10687_Heather_Ridge_Dr_San_Diego_Ca_92130

http://www.sdlookup.com/MLS-086027573-5241_Brickfield_Ln_San_Diego_Ca_92130

Also, public records indicate (unrelated to above sales) in these pardee communities… although, as indicated before, default status doesn’t necessarily indicate financial duress.

1 Person has defaulted on $28k in prop tax
1 Person has defaulted on $10k in prop tax
1 Person has defaulted on $19k in prop tax
1 Person has defaulted on $13k in prop tax

[Coronita]

Guess who are back on the market in CV?

Pardee Saratoga….

http://www.sdlookup.com/MLS-081025123-10687_Heather_Ridge_Dr_San_Diego_Ca_92130

http://www.sdlookup.com/MLS-086027573-5241_Brickfield_Ln_San_Diego_Ca_92130

Also, public records indicate (unrelated to above sales) in these pardee communities… although, as indicated before, default status doesn’t necessarily indicate financial duress.

1 Person has defaulted on $28k in prop tax
1 Person has defaulted on $10k in prop tax
1 Person has defaulted on $19k in prop tax
1 Person has defaulted on $13k in prop tax

[Coronita]

Guess who are back on the market in CV?

Pardee Saratoga….

http://www.sdlookup.com/MLS-081025123-10687_Heather_Ridge_Dr_San_Diego_Ca_92130

http://www.sdlookup.com/MLS-086027573-5241_Brickfield_Ln_San_Diego_Ca_92130

Also, public records indicate (unrelated to above sales) in these pardee communities… although, as indicated before, default status doesn’t necessarily indicate financial duress.

1 Person has defaulted on $28k in prop tax
1 Person has defaulted on $10k in prop tax
1 Person has defaulted on $19k in prop tax
1 Person has defaulted on $13k in prop tax

[Coronita]

Guess who are back on the market in CV?

Pardee Saratoga….

http://www.sdlookup.com/MLS-081025123-10687_Heather_Ridge_Dr_San_Diego_Ca_92130

http://www.sdlookup.com/MLS-086027573-5241_Brickfield_Ln_San_Diego_Ca_92130

Also, public records indicate (unrelated to above sales) in these pardee communities… although, as indicated before, default status doesn’t necessarily indicate financial duress.

1 Person has defaulted on $28k in prop tax
1 Person has defaulted on $10k in prop tax
1 Person has defaulted on $19k in prop tax
1 Person has defaulted on $13k in prop tax

[CA renter]

FLU,

What’s disgusting about those two listings is that both of them think they “deserve” a profit…from 2006 prices!!!!

We are nowhere near a bottom, especially in the better areas, IMHO.

BTW, still seeing lots of wannabe flippers out there, guys. Be careful, and don’t compete until they are all washed out of the market. I remember the bottom of the last market, and there were few/no flippers to be found. Bubble mentality is still alive and well because “the govt is going to save us.”

[CA renter]

FLU,

What’s disgusting about those two listings is that both of them think they “deserve” a profit…from 2006 prices!!!!

We are nowhere near a bottom, especially in the better areas, IMHO.

BTW, still seeing lots of wannabe flippers out there, guys. Be careful, and don’t compete until they are all washed out of the market. I remember the bottom of the last market, and there were few/no flippers to be found. Bubble mentality is still alive and well because “the govt is going to save us.”

[CA renter]

FLU,

What’s disgusting about those two listings is that both of them think they “deserve” a profit…from 2006 prices!!!!

We are nowhere near a bottom, especially in the better areas, IMHO.

BTW, still seeing lots of wannabe flippers out there, guys. Be careful, and don’t compete until they are all washed out of the market. I remember the bottom of the last market, and there were few/no flippers to be found. Bubble mentality is still alive and well because “the govt is going to save us.”

[CA renter]

FLU,

What’s disgusting about those two listings is that both of them think they “deserve” a profit…from 2006 prices!!!!

We are nowhere near a bottom, especially in the better areas, IMHO.

BTW, still seeing lots of wannabe flippers out there, guys. Be careful, and don’t compete until they are all washed out of the market. I remember the bottom of the last market, and there were few/no flippers to be found. Bubble mentality is still alive and well because “the govt is going to save us.”

[CA renter]

FLU,

What’s disgusting about those two listings is that both of them think they “deserve” a profit…from 2006 prices!!!!

We are nowhere near a bottom, especially in the better areas, IMHO.

BTW, still seeing lots of wannabe flippers out there, guys. Be careful, and don’t compete until they are all washed out of the market. I remember the bottom of the last market, and there were few/no flippers to be found. Bubble mentality is still alive and well because “the govt is going to save us.”

[peterb]

I think it takes 5 years of not paying property tax before the govt can take the property. So it’s a logical place to start not paying if you’re broke. Which may be a good indicator the owner is in distress and stiffing the lender as well.
Short sales seem to be too damaging to the seller and the lender would have to recognize the loss.(Which they do NOT want to do right now.) So best to let these die a natural and ugly death.
The flippers like Bruce Norris claim they’re getting the lender to sell them at 40% of the loan or less at a no-reserve auction. But remember, these guys are total pro’s. Notice that they dont want to keep the properties either. Even at positive cash flow as a rental. What does that tell you?

[peterb]

I think it takes 5 years of not paying property tax before the govt can take the property. So it’s a logical place to start not paying if you’re broke. Which may be a good indicator the owner is in distress and stiffing the lender as well.
Short sales seem to be too damaging to the seller and the lender would have to recognize the loss.(Which they do NOT want to do right now.) So best to let these die a natural and ugly death.
The flippers like Bruce Norris claim they’re getting the lender to sell them at 40% of the loan or less at a no-reserve auction. But remember, these guys are total pro’s. Notice that they dont want to keep the properties either. Even at positive cash flow as a rental. What does that tell you?

[peterb]

I think it takes 5 years of not paying property tax before the govt can take the property. So it’s a logical place to start not paying if you’re broke. Which may be a good indicator the owner is in distress and stiffing the lender as well.
Short sales seem to be too damaging to the seller and the lender would have to recognize the loss.(Which they do NOT want to do right now.) So best to let these die a natural and ugly death.
The flippers like Bruce Norris claim they’re getting the lender to sell them at 40% of the loan or less at a no-reserve auction. But remember, these guys are total pro’s. Notice that they dont want to keep the properties either. Even at positive cash flow as a rental. What does that tell you?

[peterb]

I think it takes 5 years of not paying property tax before the govt can take the property. So it’s a logical place to start not paying if you’re broke. Which may be a good indicator the owner is in distress and stiffing the lender as well.
Short sales seem to be too damaging to the seller and the lender would have to recognize the loss.(Which they do NOT want to do right now.) So best to let these die a natural and ugly death.
The flippers like Bruce Norris claim they’re getting the lender to sell them at 40% of the loan or less at a no-reserve auction. But remember, these guys are total pro’s. Notice that they dont want to keep the properties either. Even at positive cash flow as a rental. What does that tell you?

[Author]

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