sfexporter : Your $250/sqft homes in Carmel Valley

[Coronita]

[quote=SD Realtor]See this is the main problem with some sites. Reading all of the aggro posts on the bubbletracking site was fairly laughable.

The couple that bought this home got a great deal compared to the comps. Do they know the market is going down? Yes. Do they know where the bottom is? No. Had they shopped for several months before they made the purchase? Of course. Does this couple have money to be able to afford the purchase? Yes. Did they simply want the home for other reasons then trying to find a bottom of the market? Yes. Did they know the market very well? Yes.

Furthermore reading the posts on bubble tracking it was especially refreshing to read all of the asian and even indian inferences. No racism there eh? None not at all.

It is freaking laughable and I have lost a good deal of respect, not for the author of the site but for the posters.

Once again, there seems to be a this stubborness by others to understand that unfortunately, there are people who live here in San Diego, who have more money then they do, and are willing to buy a home (or homes) with it. Many of these people and others like them, can actually afford to do this regardless of many factors including the economy. Yes these people make it harder for wannabe buyers like me but then I guess it sucks to be me or us. However hurling epitaphs about asians and indians sucking up carmel valley homes goes beyond stupidity and normal bitterness of being priced out of a market.

As far as what happened between the previous owners, I am not sure about that. Tell me, can you validate the information that the person that bought it from the builder sold to his girlfriend? I was wondering where this was found.

JP the Chambord Trust is the trust that was set up by the investors who bought the home at trustee sales. They ALWAYS do that when they purchase because when they flip it that limits liability to the trust. I can assure you that I KNOW WHO IS IN Chambord Trust and they are not the original owners nor are they anyone to do with them. In fact I WOULD LOVE to have been in the Chambord Trust. It is a small group.

Actually the investors were lucky. The home was in the middle of the short sale process. The lender bungled it up as usual and WHILE the process was happening someone forgot to postpone the NOT. The listing agent was boned and caught by surprise. Tough beans for them. The investors did well.

I had posted a few months back about some excellent opportunities of trustee sales but I guess not many people got the hint.

I understand where you are coming from but try not to believe everything you see or read on the net. Also what WILL be more enraging to me are the fact that owners like these may/could/will get bailed out. [/quote]

You know SDR, if I wasn’t such a clown and so damn opinionated here on this blog, I would have actually wanted to know you in person. Simply because, you seem to be one of the few people that are pretty well connected in what’s going on in the RE market, and I could have used some of those hints in the trustee sales information. At this point, I only wish I could have been more quiet and subtle around here so that I could sought more of your insight into these trustee sales. Sometimes when your personality on a blog takes a life of it’s own, it’s sort of embarrassing to be in person 🙂

Regarding the asian/indian comments…
Anyway, I think actually ocrenter is asian…The comments about the “asian/indians” are clueless about the housing market….Well, it might be partly true…But like you said, some don’t try to calculate to the last penny when it comes to the primary, because again it’s the entire family/kid first thing again…

Pardon the ignorance jpinpb and SDR, can you explain how this particular trustee say went down if more info is available? I’m kind of curious. that $690k sale was a steal…

[jpinpb]

I’m sorry to be vague. I don’t have a lot of details. I heard the original December buyer was officially being questioned involving something and I suspect it may involve something other than this particular property, but I’m not sure. That’s pretty much all I know. I may never know more. I just know there’s something else going on and I don’t want to spread rumors or be defamatory. There’s just more to it. I’m as curious as you, FLU.

[jpinpb]

I’m sorry to be vague. I don’t have a lot of details. I heard the original December buyer was officially being questioned involving something and I suspect it may involve something other than this particular property, but I’m not sure. That’s pretty much all I know. I may never know more. I just know there’s something else going on and I don’t want to spread rumors or be defamatory. There’s just more to it. I’m as curious as you, FLU.

[jpinpb]

I’m sorry to be vague. I don’t have a lot of details. I heard the original December buyer was officially being questioned involving something and I suspect it may involve something other than this particular property, but I’m not sure. That’s pretty much all I know. I may never know more. I just know there’s something else going on and I don’t want to spread rumors or be defamatory. There’s just more to it. I’m as curious as you, FLU.

[jpinpb]

I’m sorry to be vague. I don’t have a lot of details. I heard the original December buyer was officially being questioned involving something and I suspect it may involve something other than this particular property, but I’m not sure. That’s pretty much all I know. I may never know more. I just know there’s something else going on and I don’t want to spread rumors or be defamatory. There’s just more to it. I’m as curious as you, FLU.

[jpinpb]

I’m sorry to be vague. I don’t have a lot of details. I heard the original December buyer was officially being questioned involving something and I suspect it may involve something other than this particular property, but I’m not sure. That’s pretty much all I know. I may never know more. I just know there’s something else going on and I don’t want to spread rumors or be defamatory. There’s just more to it. I’m as curious as you, FLU.

[SD Realtor]

JP no apologies needed at all. I am curious what you mean by the original December buyer.

I can tell you what happened with the original listing that was handled by JoAnn Moss and Sandra Smith over at Red Carpet. They had the listing back in March of 2008. I have worked with them before and have known them to be good agents. Anyways my client actually had made an offer to them when they had the listing as a short sale but they declined it. They had another offer and were working on it with the negotiator at the lender. As I said, someone in loss mitigation failed to inform someone in legal that the short sale was being negotiatied. The home went to foreclosure pretty much unbeknowest to anyone, the listing agent or the seller.

Now as for the buyer at the trust sale, the listing agent actually is the guy or one of the guys who runs it all. He established the Chambord trust. Like I said, he establishes unique trusts for each property he purchases for liability purchases. This one pretty much fell into his lap. He was amazed that it went to trustee sale as well. As for the pricing at trustee sale I do not know what the opening bid was, he wouldn’t tell me.

As for the sales price of 820k which was well below comps, as you know I give all of my buyers commission rebates. Some use the rebate to pay for closing costs, some ask me to have the seller reduce the sales price by the amount of the rebate. My client also had a relatively quick escrow.

Just a sidenote on the guy that does this stuff and his groups. This particular sale was a gem for him and his group. However he told me about a few other deals that are indeed pretty nightmarish. Properties tied up in litigation for months even longer, and in those cases he (and his investors) carry the cost. Make no mistake though he is doing well. I made what I thought were a few decent recommendations to him and he shot most of them down but one he did like. I got a thank you out of it…

JP as for something going on… well perhaps there was with either the original guy who purchased from the builder or the person he sold it to.. It wouldn’t surprise me at all if there was because I noticed in 2006 the property was listed for sale for all of 12 days and then it was cancelled. Then the property sold in February of 07 at 950k so yes something could have definitely gone down. However once more as for anything regarding the trustee sale, the short sale attempt before that, or the final sale that recently closed it was all above board.

As for OCR he is a good guy, it was just some of the comments on that thread that were VERY disheartening. I think I will post on it to try to enlighten them.

[SD Realtor]

JP no apologies needed at all. I am curious what you mean by the original December buyer.

I can tell you what happened with the original listing that was handled by JoAnn Moss and Sandra Smith over at Red Carpet. They had the listing back in March of 2008. I have worked with them before and have known them to be good agents. Anyways my client actually had made an offer to them when they had the listing as a short sale but they declined it. They had another offer and were working on it with the negotiator at the lender. As I said, someone in loss mitigation failed to inform someone in legal that the short sale was being negotiatied. The home went to foreclosure pretty much unbeknowest to anyone, the listing agent or the seller.

Now as for the buyer at the trust sale, the listing agent actually is the guy or one of the guys who runs it all. He established the Chambord trust. Like I said, he establishes unique trusts for each property he purchases for liability purchases. This one pretty much fell into his lap. He was amazed that it went to trustee sale as well. As for the pricing at trustee sale I do not know what the opening bid was, he wouldn’t tell me.

As for the sales price of 820k which was well below comps, as you know I give all of my buyers commission rebates. Some use the rebate to pay for closing costs, some ask me to have the seller reduce the sales price by the amount of the rebate. My client also had a relatively quick escrow.

Just a sidenote on the guy that does this stuff and his groups. This particular sale was a gem for him and his group. However he told me about a few other deals that are indeed pretty nightmarish. Properties tied up in litigation for months even longer, and in those cases he (and his investors) carry the cost. Make no mistake though he is doing well. I made what I thought were a few decent recommendations to him and he shot most of them down but one he did like. I got a thank you out of it…

JP as for something going on… well perhaps there was with either the original guy who purchased from the builder or the person he sold it to.. It wouldn’t surprise me at all if there was because I noticed in 2006 the property was listed for sale for all of 12 days and then it was cancelled. Then the property sold in February of 07 at 950k so yes something could have definitely gone down. However once more as for anything regarding the trustee sale, the short sale attempt before that, or the final sale that recently closed it was all above board.

As for OCR he is a good guy, it was just some of the comments on that thread that were VERY disheartening. I think I will post on it to try to enlighten them.

[SD Realtor]

JP no apologies needed at all. I am curious what you mean by the original December buyer.

I can tell you what happened with the original listing that was handled by JoAnn Moss and Sandra Smith over at Red Carpet. They had the listing back in March of 2008. I have worked with them before and have known them to be good agents. Anyways my client actually had made an offer to them when they had the listing as a short sale but they declined it. They had another offer and were working on it with the negotiator at the lender. As I said, someone in loss mitigation failed to inform someone in legal that the short sale was being negotiatied. The home went to foreclosure pretty much unbeknowest to anyone, the listing agent or the seller.

Now as for the buyer at the trust sale, the listing agent actually is the guy or one of the guys who runs it all. He established the Chambord trust. Like I said, he establishes unique trusts for each property he purchases for liability purchases. This one pretty much fell into his lap. He was amazed that it went to trustee sale as well. As for the pricing at trustee sale I do not know what the opening bid was, he wouldn’t tell me.

As for the sales price of 820k which was well below comps, as you know I give all of my buyers commission rebates. Some use the rebate to pay for closing costs, some ask me to have the seller reduce the sales price by the amount of the rebate. My client also had a relatively quick escrow.

Just a sidenote on the guy that does this stuff and his groups. This particular sale was a gem for him and his group. However he told me about a few other deals that are indeed pretty nightmarish. Properties tied up in litigation for months even longer, and in those cases he (and his investors) carry the cost. Make no mistake though he is doing well. I made what I thought were a few decent recommendations to him and he shot most of them down but one he did like. I got a thank you out of it…

JP as for something going on… well perhaps there was with either the original guy who purchased from the builder or the person he sold it to.. It wouldn’t surprise me at all if there was because I noticed in 2006 the property was listed for sale for all of 12 days and then it was cancelled. Then the property sold in February of 07 at 950k so yes something could have definitely gone down. However once more as for anything regarding the trustee sale, the short sale attempt before that, or the final sale that recently closed it was all above board.

As for OCR he is a good guy, it was just some of the comments on that thread that were VERY disheartening. I think I will post on it to try to enlighten them.

[SD Realtor]

JP no apologies needed at all. I am curious what you mean by the original December buyer.

I can tell you what happened with the original listing that was handled by JoAnn Moss and Sandra Smith over at Red Carpet. They had the listing back in March of 2008. I have worked with them before and have known them to be good agents. Anyways my client actually had made an offer to them when they had the listing as a short sale but they declined it. They had another offer and were working on it with the negotiator at the lender. As I said, someone in loss mitigation failed to inform someone in legal that the short sale was being negotiatied. The home went to foreclosure pretty much unbeknowest to anyone, the listing agent or the seller.

Now as for the buyer at the trust sale, the listing agent actually is the guy or one of the guys who runs it all. He established the Chambord trust. Like I said, he establishes unique trusts for each property he purchases for liability purchases. This one pretty much fell into his lap. He was amazed that it went to trustee sale as well. As for the pricing at trustee sale I do not know what the opening bid was, he wouldn’t tell me.

As for the sales price of 820k which was well below comps, as you know I give all of my buyers commission rebates. Some use the rebate to pay for closing costs, some ask me to have the seller reduce the sales price by the amount of the rebate. My client also had a relatively quick escrow.

Just a sidenote on the guy that does this stuff and his groups. This particular sale was a gem for him and his group. However he told me about a few other deals that are indeed pretty nightmarish. Properties tied up in litigation for months even longer, and in those cases he (and his investors) carry the cost. Make no mistake though he is doing well. I made what I thought were a few decent recommendations to him and he shot most of them down but one he did like. I got a thank you out of it…

JP as for something going on… well perhaps there was with either the original guy who purchased from the builder or the person he sold it to.. It wouldn’t surprise me at all if there was because I noticed in 2006 the property was listed for sale for all of 12 days and then it was cancelled. Then the property sold in February of 07 at 950k so yes something could have definitely gone down. However once more as for anything regarding the trustee sale, the short sale attempt before that, or the final sale that recently closed it was all above board.

As for OCR he is a good guy, it was just some of the comments on that thread that were VERY disheartening. I think I will post on it to try to enlighten them.

[SD Realtor]

JP no apologies needed at all. I am curious what you mean by the original December buyer.

I can tell you what happened with the original listing that was handled by JoAnn Moss and Sandra Smith over at Red Carpet. They had the listing back in March of 2008. I have worked with them before and have known them to be good agents. Anyways my client actually had made an offer to them when they had the listing as a short sale but they declined it. They had another offer and were working on it with the negotiator at the lender. As I said, someone in loss mitigation failed to inform someone in legal that the short sale was being negotiatied. The home went to foreclosure pretty much unbeknowest to anyone, the listing agent or the seller.

Now as for the buyer at the trust sale, the listing agent actually is the guy or one of the guys who runs it all. He established the Chambord trust. Like I said, he establishes unique trusts for each property he purchases for liability purchases. This one pretty much fell into his lap. He was amazed that it went to trustee sale as well. As for the pricing at trustee sale I do not know what the opening bid was, he wouldn’t tell me.

As for the sales price of 820k which was well below comps, as you know I give all of my buyers commission rebates. Some use the rebate to pay for closing costs, some ask me to have the seller reduce the sales price by the amount of the rebate. My client also had a relatively quick escrow.

Just a sidenote on the guy that does this stuff and his groups. This particular sale was a gem for him and his group. However he told me about a few other deals that are indeed pretty nightmarish. Properties tied up in litigation for months even longer, and in those cases he (and his investors) carry the cost. Make no mistake though he is doing well. I made what I thought were a few decent recommendations to him and he shot most of them down but one he did like. I got a thank you out of it…

JP as for something going on… well perhaps there was with either the original guy who purchased from the builder or the person he sold it to.. It wouldn’t surprise me at all if there was because I noticed in 2006 the property was listed for sale for all of 12 days and then it was cancelled. Then the property sold in February of 07 at 950k so yes something could have definitely gone down. However once more as for anything regarding the trustee sale, the short sale attempt before that, or the final sale that recently closed it was all above board.

As for OCR he is a good guy, it was just some of the comments on that thread that were VERY disheartening. I think I will post on it to try to enlighten them.

[jpinpb]

The house was bought in December from the builder. That’s who I mean by the December buyer. He then turned around 2 months later and sold it to his girlfriend. Then it went to foreclosure.

I hate to say it was all planned down to foreclosure, but when something like this happens, it does raise an eyebrow. They both work and they didn’t pay on the house. Fine. Their perogative. They can according the contract give the house back to the bank. But all of it from the very first purchase in December smells fraudulent.

So this foreclosure happens when it really shouldn’t have and was an accident b/c someone fell asleep at the wheel and it worked out for the Chambord Trust. May be all legitimate and they got lucky. I have no facts regarding that. I’ll take your word on that.

I just found out that the December purchaser was being questioned and I don’t have the details, but it’s pretty serious.

I am not saying anything was wrong with the last purchase of 820k.

I actually emailed the address to OC to point out the sketchy history and the successful flip. But the blog went on a tangent. They grow a life of their own.

EDIT:

And so reading the New type of real estate fraud thread, it just raises my suspicions.

[jpinpb]

The house was bought in December from the builder. That’s who I mean by the December buyer. He then turned around 2 months later and sold it to his girlfriend. Then it went to foreclosure.

I hate to say it was all planned down to foreclosure, but when something like this happens, it does raise an eyebrow. They both work and they didn’t pay on the house. Fine. Their perogative. They can according the contract give the house back to the bank. But all of it from the very first purchase in December smells fraudulent.

So this foreclosure happens when it really shouldn’t have and was an accident b/c someone fell asleep at the wheel and it worked out for the Chambord Trust. May be all legitimate and they got lucky. I have no facts regarding that. I’ll take your word on that.

I just found out that the December purchaser was being questioned and I don’t have the details, but it’s pretty serious.

I am not saying anything was wrong with the last purchase of 820k.

I actually emailed the address to OC to point out the sketchy history and the successful flip. But the blog went on a tangent. They grow a life of their own.

EDIT:

And so reading the New type of real estate fraud thread, it just raises my suspicions.

[jpinpb]

The house was bought in December from the builder. That’s who I mean by the December buyer. He then turned around 2 months later and sold it to his girlfriend. Then it went to foreclosure.

I hate to say it was all planned down to foreclosure, but when something like this happens, it does raise an eyebrow. They both work and they didn’t pay on the house. Fine. Their perogative. They can according the contract give the house back to the bank. But all of it from the very first purchase in December smells fraudulent.

So this foreclosure happens when it really shouldn’t have and was an accident b/c someone fell asleep at the wheel and it worked out for the Chambord Trust. May be all legitimate and they got lucky. I have no facts regarding that. I’ll take your word on that.

I just found out that the December purchaser was being questioned and I don’t have the details, but it’s pretty serious.

I am not saying anything was wrong with the last purchase of 820k.

I actually emailed the address to OC to point out the sketchy history and the successful flip. But the blog went on a tangent. They grow a life of their own.

EDIT:

And so reading the New type of real estate fraud thread, it just raises my suspicions.

[jpinpb]

The house was bought in December from the builder. That’s who I mean by the December buyer. He then turned around 2 months later and sold it to his girlfriend. Then it went to foreclosure.

I hate to say it was all planned down to foreclosure, but when something like this happens, it does raise an eyebrow. They both work and they didn’t pay on the house. Fine. Their perogative. They can according the contract give the house back to the bank. But all of it from the very first purchase in December smells fraudulent.

So this foreclosure happens when it really shouldn’t have and was an accident b/c someone fell asleep at the wheel and it worked out for the Chambord Trust. May be all legitimate and they got lucky. I have no facts regarding that. I’ll take your word on that.

I just found out that the December purchaser was being questioned and I don’t have the details, but it’s pretty serious.

I am not saying anything was wrong with the last purchase of 820k.

I actually emailed the address to OC to point out the sketchy history and the successful flip. But the blog went on a tangent. They grow a life of their own.

EDIT:

And so reading the New type of real estate fraud thread, it just raises my suspicions.

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