HAS ANYONE HAD THIS HAPPEN TO THEM YET?

[little lady]

My neighbor across the street came up to me 2 days ago and said she was moving Tuesday..

Guess what she got mixed up in this greedy bank mess. They bought in August ’05, paid 500k.

She told me they didn’t put any money down. Bought a house prior in Temecula(to get into the market), that sucked because of the commute(TEMECULA IS BEAUTIFUL). So they sold and took what money they made and paid off their toy hauler. She was walking away and they haven’t even been late on a payment yet. Moving 3 blocks away to a house with a pool.

I had told my husband, wait, watch these guys. Living high on the hog, new dirt bikes, trucks, trailer, every week going to the desert( costs us 500 bucks so I know they were spending money like water)during desert season.

Then a funny thing happened one of the trucks turned in to a 4 cylinder, the grass is brown…..

The funniest thing is that for 1 1/2, they never talked to me……

Oh and my husband WAS high fivin’ me for callin’ that one! Can you say FACADE?

[sdappraiser]

Jeez, when white trash attacks.

Nice to know your life is so perfect.

[sdappraiser]

Jeez, when white trash attacks.

Nice to know your life is so perfect.

[sdappraiser]

Jeez, when white trash attacks.

Nice to know your life is so perfect.

[little lady]

Sorry if business is bad, should be picking up in ‘2030.

[little lady]

Sorry if business is bad, should be picking up in ‘2030.

[little lady]

Sorry if business is bad, should be picking up in ‘2030.

[Anonymous]

Ouch! Another one bites the dust!

[Anonymous]

Ouch! Another one bites the dust!

[Anonymous]

Ouch! Another one bites the dust!

[Anonymous]

Of course we know they’re not alone.

Locals Deal with Flotsam from Foreclosure Wave
By KELLY BENNETT Voice Staff Writer
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FACEBOOK
REDDIT
NEWSVINE DIGG
DEL.ICIO.US
BLINKLISTThursday, Oct. 11, 2007 | Banks seized 14 times as many San Diego County homes last month as they did in September of last year, leaving home values vulnerable, lenders flooded with properties and government officials scurrying to help.

The number of homes to make it all the way through the foreclosure process to become bank-owned properties in San Diego County soared to 866 homes, a 43 percent increase from August’s 602, according to numbers released Wednesday by RealtyTrac, a nationwide foreclosure tracker. And last month’s number shows a 14-fold jump compared to September 2006, when just 62 homes were repossessed, or became real-estate-owned (REOs).

Market watchers say the ever-growing foreclosure inventory will drive down prices among the 23,000 homes on the resale market countywide. Compared to many home sellers, lenders are dispassionate. They hire brokers or send properties to formal auctions with instructions to lower prices quickly to get the properties off their books. And the more properties lenders absorb, the more willing they are to lop off tens of thousands of dollars from their asking prices.

According to RealtyTrac, total foreclosure filings in San Diego County dipped by 2 percent between August and September but rose year-over-year by 206 percent.

Ramsey Su is a retired REO broker who worked in the local market during the 1980s and 1990s who tracks the market extensively. Having attended both of the major home auctions in San Diego this year held by Orange County-based Real Estate Disposition Corporation, Su estimated those auctioned homes have sold for about 30 percent less than the price the company listed as the homes’ previous values. At least 85 properties are up for auction at the next one, to be held Oct. 27.

During Su’s career, an intake of 800-some REOs in a month was unheard of.

[Anonymous]

Of course we know they’re not alone.

Locals Deal with Flotsam from Foreclosure Wave
By KELLY BENNETT Voice Staff Writer
PRINT E-MAIL STORY SHARE

FACEBOOK
REDDIT
NEWSVINE DIGG
DEL.ICIO.US
BLINKLISTThursday, Oct. 11, 2007 | Banks seized 14 times as many San Diego County homes last month as they did in September of last year, leaving home values vulnerable, lenders flooded with properties and government officials scurrying to help.

The number of homes to make it all the way through the foreclosure process to become bank-owned properties in San Diego County soared to 866 homes, a 43 percent increase from August’s 602, according to numbers released Wednesday by RealtyTrac, a nationwide foreclosure tracker. And last month’s number shows a 14-fold jump compared to September 2006, when just 62 homes were repossessed, or became real-estate-owned (REOs).

Market watchers say the ever-growing foreclosure inventory will drive down prices among the 23,000 homes on the resale market countywide. Compared to many home sellers, lenders are dispassionate. They hire brokers or send properties to formal auctions with instructions to lower prices quickly to get the properties off their books. And the more properties lenders absorb, the more willing they are to lop off tens of thousands of dollars from their asking prices.

According to RealtyTrac, total foreclosure filings in San Diego County dipped by 2 percent between August and September but rose year-over-year by 206 percent.

Ramsey Su is a retired REO broker who worked in the local market during the 1980s and 1990s who tracks the market extensively. Having attended both of the major home auctions in San Diego this year held by Orange County-based Real Estate Disposition Corporation, Su estimated those auctioned homes have sold for about 30 percent less than the price the company listed as the homes’ previous values. At least 85 properties are up for auction at the next one, to be held Oct. 27.

During Su’s career, an intake of 800-some REOs in a month was unheard of.

[Anonymous]

Of course we know they’re not alone.

Locals Deal with Flotsam from Foreclosure Wave
By KELLY BENNETT Voice Staff Writer
PRINT E-MAIL STORY SHARE

FACEBOOK
REDDIT
NEWSVINE DIGG
DEL.ICIO.US
BLINKLISTThursday, Oct. 11, 2007 | Banks seized 14 times as many San Diego County homes last month as they did in September of last year, leaving home values vulnerable, lenders flooded with properties and government officials scurrying to help.

The number of homes to make it all the way through the foreclosure process to become bank-owned properties in San Diego County soared to 866 homes, a 43 percent increase from August’s 602, according to numbers released Wednesday by RealtyTrac, a nationwide foreclosure tracker. And last month’s number shows a 14-fold jump compared to September 2006, when just 62 homes were repossessed, or became real-estate-owned (REOs).

Market watchers say the ever-growing foreclosure inventory will drive down prices among the 23,000 homes on the resale market countywide. Compared to many home sellers, lenders are dispassionate. They hire brokers or send properties to formal auctions with instructions to lower prices quickly to get the properties off their books. And the more properties lenders absorb, the more willing they are to lop off tens of thousands of dollars from their asking prices.

According to RealtyTrac, total foreclosure filings in San Diego County dipped by 2 percent between August and September but rose year-over-year by 206 percent.

Ramsey Su is a retired REO broker who worked in the local market during the 1980s and 1990s who tracks the market extensively. Having attended both of the major home auctions in San Diego this year held by Orange County-based Real Estate Disposition Corporation, Su estimated those auctioned homes have sold for about 30 percent less than the price the company listed as the homes’ previous values. At least 85 properties are up for auction at the next one, to be held Oct. 27.

During Su’s career, an intake of 800-some REOs in a month was unheard of.

[sdappraiser]

Jonni,

It would probably kill you to know some of us are still as busy as 2005. No worries here, thanks.

[sdappraiser]

Jonni,

It would probably kill you to know some of us are still as busy as 2005. No worries here, thanks.

[Author]

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