Seen on Hwy 76: OPEN HOUSE, Price reduced $200k

[mydogsarelazy]

Hello Everyone,

Today, traveling west on Hwy 76 near Oceanside, I saw a sign that said “OPEN HOUSE Price reduced $200k.”

Things are very different than last year, aren’t they?

Across the street I had a chance to chat with the broker who is handling the bank repo now offered for sale. He told me he has four repos now for sale, no interest in any of them yet. They all were purchased in late 2004, early 2005 with interest only ARM loans.

JS

[barnaby33]

When you say across the street, do you mean from your residence, or the reduced 200k house?

I suppose its not super important but the clustering of such reductions is a real curiosity to me. Its something Rich touched on about a year ago.

Josh

[anxvariety]

I saw some roadside spam on 76 for a site called DumpingCondos.com

🙂 Haven’t checked it out yet…

[mydogsarelazy]

Sorry for the confusion….

The repo is across the street from me in Murrieta. The broker is handling three repos in Murrieta/Temecula and one in Escondido.

JS

[contentrenter]

I don’t remember what Rich said — what’s the deal with clustering?

[barnaby33]

I’ll let Rich respond to that! Ok so I will make an attempt to find that article.

Josh

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