Repos hitting astounding new lows-will it affect the rest

[temeculaguy]

Thanks pizza and Allan, the point of the thread was to get your opinion on these new low listers from the banks, are they setting the new watermark and causing even more foreclosures, will the others floow them down. They are now below the builders who will have to react. Like you Pizza, I think the time is here, 2008 will be very interesting for us locals.

kev, the “Temecula is too far from Orange County and has no jobs” argument has been argued at nauseum, it is not a suburb or exurb of Orange County and Irvine is not the only place in the world with jobs. Temecula is the next town North of Fallbrook, much more closely tied to San Diego North County and I’ve run out of patience trying to explain the presense and source of money out here. I don’t work for the city and have no stake in how anyone feels about it. People who work in O.C. should not live here and commute. What I do know is that I have a large circle of friends who are all six figure folks and none of them are tied to R/E, starbucks or Costco. So for us it works and fortunately prices relative to our incomes are getting close to what they were ten years ago.

Before the boom, let’s say 1997-1999 prices, the original house I linked would be worth about 200-250k. After inflation it’s fair value today is about 250-300k. What was stupid is that they were going for 600k in 2005 and some are still listed at about that. I’m not going to buy that house, but $100 a square in the place I want to live in is a fair price and leaves me plenty of disposable income to support my disposable lifestyle.

Publicdefender, thanks for the tip, I think I’ll go long on liquor.

[pizzaman]

I’m on a roll now, here’s your 50% off house. http://www.redfin.com/stingray/do/printable-listing?listing-id=1145823 Do I remember someone having a bet about where this would happen first? If this is the record loss an asterisk is probably in order because given the location its likely some mortgage fraud was involved in the 2006 sale.

[pizzaman]

I’m on a roll now, here’s your 50% off house. http://www.redfin.com/stingray/do/printable-listing?listing-id=1145823 Do I remember someone having a bet about where this would happen first? If this is the record loss an asterisk is probably in order because given the location its likely some mortgage fraud was involved in the 2006 sale.

[pizzaman]

I’m on a roll now, here’s your 50% off house. http://www.redfin.com/stingray/do/printable-listing?listing-id=1145823 Do I remember someone having a bet about where this would happen first? If this is the record loss an asterisk is probably in order because given the location its likely some mortgage fraud was involved in the 2006 sale.

[pizzaman]

I’m on a roll now, here’s your 50% off house. http://www.redfin.com/stingray/do/printable-listing?listing-id=1145823 Do I remember someone having a bet about where this would happen first? If this is the record loss an asterisk is probably in order because given the location its likely some mortgage fraud was involved in the 2006 sale.

[pizzaman]

I’m on a roll now, here’s your 50% off house. http://www.redfin.com/stingray/do/printable-listing?listing-id=1145823 Do I remember someone having a bet about where this would happen first? If this is the record loss an asterisk is probably in order because given the location its likely some mortgage fraud was involved in the 2006 sale.

[temeculaguy]

If you can confirm that it wasn’t part of the mortgage scam then you get free drinks, courtesy of me. If you find it in Redhawk, wolf or morgan, you get free food and drinks, courtesy of me. Since you own a couple of pizza places with beer on tap, that may not be that big of a prize for you(nice selection and good prices at your place I might add, what does that say about me that I know the specifics of every place with a liquor license in town). Since you don’t own Killarney’s Pub or Harry’s grill or a winery, it may still be cool since those are my watering holes, that’s where we are going. Speaking of watering holes, we really need to set up the next Piggington party after the holidays are over.

[temeculaguy]

If you can confirm that it wasn’t part of the mortgage scam then you get free drinks, courtesy of me. If you find it in Redhawk, wolf or morgan, you get free food and drinks, courtesy of me. Since you own a couple of pizza places with beer on tap, that may not be that big of a prize for you(nice selection and good prices at your place I might add, what does that say about me that I know the specifics of every place with a liquor license in town). Since you don’t own Killarney’s Pub or Harry’s grill or a winery, it may still be cool since those are my watering holes, that’s where we are going. Speaking of watering holes, we really need to set up the next Piggington party after the holidays are over.

[temeculaguy]

If you can confirm that it wasn’t part of the mortgage scam then you get free drinks, courtesy of me. If you find it in Redhawk, wolf or morgan, you get free food and drinks, courtesy of me. Since you own a couple of pizza places with beer on tap, that may not be that big of a prize for you(nice selection and good prices at your place I might add, what does that say about me that I know the specifics of every place with a liquor license in town). Since you don’t own Killarney’s Pub or Harry’s grill or a winery, it may still be cool since those are my watering holes, that’s where we are going. Speaking of watering holes, we really need to set up the next Piggington party after the holidays are over.

[temeculaguy]

If you can confirm that it wasn’t part of the mortgage scam then you get free drinks, courtesy of me. If you find it in Redhawk, wolf or morgan, you get free food and drinks, courtesy of me. Since you own a couple of pizza places with beer on tap, that may not be that big of a prize for you(nice selection and good prices at your place I might add, what does that say about me that I know the specifics of every place with a liquor license in town). Since you don’t own Killarney’s Pub or Harry’s grill or a winery, it may still be cool since those are my watering holes, that’s where we are going. Speaking of watering holes, we really need to set up the next Piggington party after the holidays are over.

[temeculaguy]

If you can confirm that it wasn’t part of the mortgage scam then you get free drinks, courtesy of me. If you find it in Redhawk, wolf or morgan, you get free food and drinks, courtesy of me. Since you own a couple of pizza places with beer on tap, that may not be that big of a prize for you(nice selection and good prices at your place I might add, what does that say about me that I know the specifics of every place with a liquor license in town). Since you don’t own Killarney’s Pub or Harry’s grill or a winery, it may still be cool since those are my watering holes, that’s where we are going. Speaking of watering holes, we really need to set up the next Piggington party after the holidays are over.

[Eugene]

$95/sq ft in East Murrieta – 57% off the peak (description seems to imply that there may be something wrong with the house)

http://www.redfin.com/stingray/do/printable-listing?listing-id=595882

Sub-300k 5br McMansion in Murrieta

http://www.redfin.com/stingray/do/printable-listing?listing-id=933724

More home than you’d probably ever need in your life (unless you have quintuplets?) for $400k in Murrieta

http://www.redfin.com/stingray/do/printable-listing?listing-id=734952

$77/sq ft in Hemet area

http://www.redfin.com/stingray/do/printable-listing?listing-id=1153601

[Eugene]

$95/sq ft in East Murrieta – 57% off the peak (description seems to imply that there may be something wrong with the house)

http://www.redfin.com/stingray/do/printable-listing?listing-id=595882

Sub-300k 5br McMansion in Murrieta

http://www.redfin.com/stingray/do/printable-listing?listing-id=933724

More home than you’d probably ever need in your life (unless you have quintuplets?) for $400k in Murrieta

http://www.redfin.com/stingray/do/printable-listing?listing-id=734952

$77/sq ft in Hemet area

http://www.redfin.com/stingray/do/printable-listing?listing-id=1153601

[Eugene]

$95/sq ft in East Murrieta – 57% off the peak (description seems to imply that there may be something wrong with the house)

http://www.redfin.com/stingray/do/printable-listing?listing-id=595882

Sub-300k 5br McMansion in Murrieta

http://www.redfin.com/stingray/do/printable-listing?listing-id=933724

More home than you’d probably ever need in your life (unless you have quintuplets?) for $400k in Murrieta

http://www.redfin.com/stingray/do/printable-listing?listing-id=734952

$77/sq ft in Hemet area

http://www.redfin.com/stingray/do/printable-listing?listing-id=1153601

[Eugene]

$95/sq ft in East Murrieta – 57% off the peak (description seems to imply that there may be something wrong with the house)

http://www.redfin.com/stingray/do/printable-listing?listing-id=595882

Sub-300k 5br McMansion in Murrieta

http://www.redfin.com/stingray/do/printable-listing?listing-id=933724

More home than you’d probably ever need in your life (unless you have quintuplets?) for $400k in Murrieta

http://www.redfin.com/stingray/do/printable-listing?listing-id=734952

$77/sq ft in Hemet area

http://www.redfin.com/stingray/do/printable-listing?listing-id=1153601

[Author]

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