Del Cerro View Homes

[KamFongasChinHo]

macmichael, so you infer that I’m angry? Well, my posts speak for themselves. But this real estate fiasco has made me angry at a lot of people. From Angelo Mozilo and his band of crooks who mad boatloads of money for themselves, but left shareholders to die. I’m angry at the speculators who lied about their incomes, whether they were purchasing a property for investment purposes, etc. on their Alt A mortgages to squeeze into homes and pushed home affordability to astronomical levels in California. I’m angry at the mortgae insurers and bond rating agencies who led to this mess by not accurately rating the risks of the companies’ making these loans. I’m angry that anyone would think that someone should receive a government bailout for risks people too that had they been successful would be rich today, but instead want a hand out for reckless decisions.

This thread has some information on an area I’m familiar with and has interesting properties where people still seem to think there is no credit crisis, no housing crisis, and homes still deserve to be priced high even though the easy money from 2003 to 2005 in unavailable. I lost money investing in Washington Mutual, Bear Sterns, Countrywide Financial, Fremont, Thornburg but luckily stayed clear of New Century.

The money I lost was due to a lot of people’s reckless behavior, influenced by greed and easy money. No one cared to think of the problems caused by extremely high housing prices, because too many people were making money from 2002-2006. Let all these people pay the price for their greed and risks. I paid the price for substantial losses in what I thought to be financially sound companies with smart management.

I say let the market play out, I just think it will be interesting to watch this area along with the Coastal regions who still think that housing prices deserve to go up 8-20% per year. I do hope that buyers are savvy enough to wait until prices drop to a point where they are not at risk to lose a home they cannot afford.

>>>Kam

From this and other writing you seem very angry about the Del Cerro area.

“This area is crazy if you ask me. If I were a lender I’d want a whole lot of skin in the game to assure that my money is going to be returned to me and not speculated with a “flip.””.

How come? If you think the area is so overpriced and lacks value why do you follow this thread?>>>

[macmichael]

Poway

Did you get the mailer for 5918 Madra. Don’t know what list she bought but we got a green post card today for the up coming open house.

Best part is the ad promoting Nordic Construction – apparently the husband. It says “Beautifying our Neighborhood One House at a Time”. Annette’s price is still $ 1.3 – 1.375. I surprised by now that she hasn’t realized how much under the market she is and raised it some.

I will look forward to more piano playing on Sunday – NOT.

[macmichael]

Poway

Did you get the mailer for 5918 Madra. Don’t know what list she bought but we got a green post card today for the up coming open house.

Best part is the ad promoting Nordic Construction – apparently the husband. It says “Beautifying our Neighborhood One House at a Time”. Annette’s price is still $ 1.3 – 1.375. I surprised by now that she hasn’t realized how much under the market she is and raised it some.

I will look forward to more piano playing on Sunday – NOT.

[macmichael]

Poway

Did you get the mailer for 5918 Madra. Don’t know what list she bought but we got a green post card today for the up coming open house.

Best part is the ad promoting Nordic Construction – apparently the husband. It says “Beautifying our Neighborhood One House at a Time”. Annette’s price is still $ 1.3 – 1.375. I surprised by now that she hasn’t realized how much under the market she is and raised it some.

I will look forward to more piano playing on Sunday – NOT.

[macmichael]

Poway

Did you get the mailer for 5918 Madra. Don’t know what list she bought but we got a green post card today for the up coming open house.

Best part is the ad promoting Nordic Construction – apparently the husband. It says “Beautifying our Neighborhood One House at a Time”. Annette’s price is still $ 1.3 – 1.375. I surprised by now that she hasn’t realized how much under the market she is and raised it some.

I will look forward to more piano playing on Sunday – NOT.

[macmichael]

Poway

Did you get the mailer for 5918 Madra. Don’t know what list she bought but we got a green post card today for the up coming open house.

Best part is the ad promoting Nordic Construction – apparently the husband. It says “Beautifying our Neighborhood One House at a Time”. Annette’s price is still $ 1.3 – 1.375. I surprised by now that she hasn’t realized how much under the market she is and raised it some.

I will look forward to more piano playing on Sunday – NOT.

[betting on fall]

I haven’t chimed in for a while on this (or any) thread, but I have been keeping my eye on the market. Sloooooooow is the only way I can describe things. For those not familiar with the market, I think this area is a great example of what is happening in old markets. Some folks willing to take a cut from their wish selling price can actually sell (see the Claremore house: http://www.sdlookup.com/MLS-086015686-6426_Claremore_Ln_San_Diego_CA_92120

Others aren’t willing to mark down to the reality of the current market (Yokohama, the new listing on Madra) They aren’t moving.

It seems the issue is that the number of buyers at the 700k+ market is extremely small, but the number of “must sells” in that category is small too. So we have close to nothing happening in the market. Funny that we have 6 pages of comments on a market doing nothing. But yes, its interesting.

[betting on fall]

I haven’t chimed in for a while on this (or any) thread, but I have been keeping my eye on the market. Sloooooooow is the only way I can describe things. For those not familiar with the market, I think this area is a great example of what is happening in old markets. Some folks willing to take a cut from their wish selling price can actually sell (see the Claremore house: http://www.sdlookup.com/MLS-086015686-6426_Claremore_Ln_San_Diego_CA_92120

Others aren’t willing to mark down to the reality of the current market (Yokohama, the new listing on Madra) They aren’t moving.

It seems the issue is that the number of buyers at the 700k+ market is extremely small, but the number of “must sells” in that category is small too. So we have close to nothing happening in the market. Funny that we have 6 pages of comments on a market doing nothing. But yes, its interesting.

[betting on fall]

I haven’t chimed in for a while on this (or any) thread, but I have been keeping my eye on the market. Sloooooooow is the only way I can describe things. For those not familiar with the market, I think this area is a great example of what is happening in old markets. Some folks willing to take a cut from their wish selling price can actually sell (see the Claremore house: http://www.sdlookup.com/MLS-086015686-6426_Claremore_Ln_San_Diego_CA_92120

Others aren’t willing to mark down to the reality of the current market (Yokohama, the new listing on Madra) They aren’t moving.

It seems the issue is that the number of buyers at the 700k+ market is extremely small, but the number of “must sells” in that category is small too. So we have close to nothing happening in the market. Funny that we have 6 pages of comments on a market doing nothing. But yes, its interesting.

[betting on fall]

I haven’t chimed in for a while on this (or any) thread, but I have been keeping my eye on the market. Sloooooooow is the only way I can describe things. For those not familiar with the market, I think this area is a great example of what is happening in old markets. Some folks willing to take a cut from their wish selling price can actually sell (see the Claremore house: http://www.sdlookup.com/MLS-086015686-6426_Claremore_Ln_San_Diego_CA_92120

Others aren’t willing to mark down to the reality of the current market (Yokohama, the new listing on Madra) They aren’t moving.

It seems the issue is that the number of buyers at the 700k+ market is extremely small, but the number of “must sells” in that category is small too. So we have close to nothing happening in the market. Funny that we have 6 pages of comments on a market doing nothing. But yes, its interesting.

[betting on fall]

I haven’t chimed in for a while on this (or any) thread, but I have been keeping my eye on the market. Sloooooooow is the only way I can describe things. For those not familiar with the market, I think this area is a great example of what is happening in old markets. Some folks willing to take a cut from their wish selling price can actually sell (see the Claremore house: http://www.sdlookup.com/MLS-086015686-6426_Claremore_Ln_San_Diego_CA_92120

Others aren’t willing to mark down to the reality of the current market (Yokohama, the new listing on Madra) They aren’t moving.

It seems the issue is that the number of buyers at the 700k+ market is extremely small, but the number of “must sells” in that category is small too. So we have close to nothing happening in the market. Funny that we have 6 pages of comments on a market doing nothing. But yes, its interesting.

[poway_seller]

Kam – “my numbers on Yokohama are “off”? Tell me how so. You are beginning to have a credibility problem Poway_Seller if you didn’t have one already.”

I’m not too concerned about a credibility problem on an online blog. Plus, on this specific topic I think I know what I am talking about. SDlookup, Realist, etc are all ‘wrong’ – since the last price they show is $770k, which was the recorded price, however the buying agent kicked back her commission to the buyer, so the selling price was actually $790k, but through escrow it was marked down to $770k and the buyer got $20k credit. 3 DOM, well – the other listing expired, so this one is new, that is why it shows 3 DOM. No issue anyhow, it will likely turn to pending and to sold within 5 weeks (for above $800). anyone want to place a wager on the exact amount?

Betting on Fall – Yokohama not willing to mark down? In case you hadn’t noticed, it is the ‘cheapest’ home per square foot in that size. It was already marked down from $899 (and is just above 2003 price). The latest price move on Yokohama was actually UP if you noticed – maybe it worked? (the old psychology trick I mentioned in another topic)

macmichael – nope, no green postcard. I told you before that last open house there was a table specifically dedicated to promoting the husband’s contractor business (during the open house)

[poway_seller]

Kam – “my numbers on Yokohama are “off”? Tell me how so. You are beginning to have a credibility problem Poway_Seller if you didn’t have one already.”

I’m not too concerned about a credibility problem on an online blog. Plus, on this specific topic I think I know what I am talking about. SDlookup, Realist, etc are all ‘wrong’ – since the last price they show is $770k, which was the recorded price, however the buying agent kicked back her commission to the buyer, so the selling price was actually $790k, but through escrow it was marked down to $770k and the buyer got $20k credit. 3 DOM, well – the other listing expired, so this one is new, that is why it shows 3 DOM. No issue anyhow, it will likely turn to pending and to sold within 5 weeks (for above $800). anyone want to place a wager on the exact amount?

Betting on Fall – Yokohama not willing to mark down? In case you hadn’t noticed, it is the ‘cheapest’ home per square foot in that size. It was already marked down from $899 (and is just above 2003 price). The latest price move on Yokohama was actually UP if you noticed – maybe it worked? (the old psychology trick I mentioned in another topic)

macmichael – nope, no green postcard. I told you before that last open house there was a table specifically dedicated to promoting the husband’s contractor business (during the open house)

[poway_seller]

Kam – “my numbers on Yokohama are “off”? Tell me how so. You are beginning to have a credibility problem Poway_Seller if you didn’t have one already.”

I’m not too concerned about a credibility problem on an online blog. Plus, on this specific topic I think I know what I am talking about. SDlookup, Realist, etc are all ‘wrong’ – since the last price they show is $770k, which was the recorded price, however the buying agent kicked back her commission to the buyer, so the selling price was actually $790k, but through escrow it was marked down to $770k and the buyer got $20k credit. 3 DOM, well – the other listing expired, so this one is new, that is why it shows 3 DOM. No issue anyhow, it will likely turn to pending and to sold within 5 weeks (for above $800). anyone want to place a wager on the exact amount?

Betting on Fall – Yokohama not willing to mark down? In case you hadn’t noticed, it is the ‘cheapest’ home per square foot in that size. It was already marked down from $899 (and is just above 2003 price). The latest price move on Yokohama was actually UP if you noticed – maybe it worked? (the old psychology trick I mentioned in another topic)

macmichael – nope, no green postcard. I told you before that last open house there was a table specifically dedicated to promoting the husband’s contractor business (during the open house)

[poway_seller]

Kam – “my numbers on Yokohama are “off”? Tell me how so. You are beginning to have a credibility problem Poway_Seller if you didn’t have one already.”

I’m not too concerned about a credibility problem on an online blog. Plus, on this specific topic I think I know what I am talking about. SDlookup, Realist, etc are all ‘wrong’ – since the last price they show is $770k, which was the recorded price, however the buying agent kicked back her commission to the buyer, so the selling price was actually $790k, but through escrow it was marked down to $770k and the buyer got $20k credit. 3 DOM, well – the other listing expired, so this one is new, that is why it shows 3 DOM. No issue anyhow, it will likely turn to pending and to sold within 5 weeks (for above $800). anyone want to place a wager on the exact amount?

Betting on Fall – Yokohama not willing to mark down? In case you hadn’t noticed, it is the ‘cheapest’ home per square foot in that size. It was already marked down from $899 (and is just above 2003 price). The latest price move on Yokohama was actually UP if you noticed – maybe it worked? (the old psychology trick I mentioned in another topic)

macmichael – nope, no green postcard. I told you before that last open house there was a table specifically dedicated to promoting the husband’s contractor business (during the open house)

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