There seems to be an increase in foreclosure listings inTemecula

[eclipxe]

Yes, the banks aren’t selling the REOs. It is a permanent condition as long as *we*, the taxpayers continue to offset the huge losses the banks are taking with our tax dollars. There is no indication that will stop. Look at the reality of the situation vs. what you’d like to believe.

I’m not up 40k and I’m not going to be down 50k in six months. I have no intention on selling anytime soon so my current equity position is of very little importance to me. My monthly costs are cheaper than renting, significantly cheaper after factoring in tax savings. 40k up, 100k down, big deal.

My map isn’t my counter argument. My map is what it is. We’ve already established that you need to take a look at the specific local picture rather than just look at raw numbers and macro economic outlines. All of those foreclosed lots? Those skew the number of REO’s significantly but has very little impact on overall prices. But of course raw numbers and pretty pictures don’t illustrate that.

Train wreck? Hardly. The train wreck was 2006 when we dropped 55%. This is the aftermath. This is the slow and steady cleanup and bottom.

More datapoints: job openings.
I’d give credence to your argument is this list was 0.

http://jobsearch.monster.com/Search.aspx?brd=1&cy=us&where=Temecula%2C%20CA&rad=20&rad_units=miles&qlt=1234936&qln=628516&lid=20587&re=130

http://jobsearch.monster.com/Search.aspx?brd=1&cy=us&where=Temecula%2C%20CA&rad=20&rad_units=miles&qlt=1234936&qln=628516&lid=20587&re=130#cy=us&where=murrieta%20ca&rad=20&rad_units=miles&re=95&pg=1&dv=1

[eclipxe]

http://www.huffingtonpost.com/2009/05/04/sp-500-nears-breakeven-fo_n_196002.html

“Two months ago, an S&P 500 in positive ground would have seemed impossible, with the stock market having fallen to 12-year lows on fears of a worsening recession. Monday’s rally was led by the same financial and housing stocks that were decimated by the credit crisis and the sinking economy, and it added more momentum to a stunning rally that began March 10.

A double dose of good housing news ignited the advance: Pending U.S. home sales rose more than forecast and had their second straight monthly gain, while construction spending rose unexpectedly in March after five straight declines.”

Green shoots my friend, green shoots.

Disaster began out here (subprime, et all). Bottoming and recovery starts here first.

[eclipxe]

http://www.huffingtonpost.com/2009/05/04/sp-500-nears-breakeven-fo_n_196002.html

“Two months ago, an S&P 500 in positive ground would have seemed impossible, with the stock market having fallen to 12-year lows on fears of a worsening recession. Monday’s rally was led by the same financial and housing stocks that were decimated by the credit crisis and the sinking economy, and it added more momentum to a stunning rally that began March 10.

A double dose of good housing news ignited the advance: Pending U.S. home sales rose more than forecast and had their second straight monthly gain, while construction spending rose unexpectedly in March after five straight declines.”

Green shoots my friend, green shoots.

Disaster began out here (subprime, et all). Bottoming and recovery starts here first.

[eclipxe]

http://www.huffingtonpost.com/2009/05/04/sp-500-nears-breakeven-fo_n_196002.html

“Two months ago, an S&P 500 in positive ground would have seemed impossible, with the stock market having fallen to 12-year lows on fears of a worsening recession. Monday’s rally was led by the same financial and housing stocks that were decimated by the credit crisis and the sinking economy, and it added more momentum to a stunning rally that began March 10.

A double dose of good housing news ignited the advance: Pending U.S. home sales rose more than forecast and had their second straight monthly gain, while construction spending rose unexpectedly in March after five straight declines.”

Green shoots my friend, green shoots.

Disaster began out here (subprime, et all). Bottoming and recovery starts here first.

[eclipxe]

http://www.huffingtonpost.com/2009/05/04/sp-500-nears-breakeven-fo_n_196002.html

“Two months ago, an S&P 500 in positive ground would have seemed impossible, with the stock market having fallen to 12-year lows on fears of a worsening recession. Monday’s rally was led by the same financial and housing stocks that were decimated by the credit crisis and the sinking economy, and it added more momentum to a stunning rally that began March 10.

A double dose of good housing news ignited the advance: Pending U.S. home sales rose more than forecast and had their second straight monthly gain, while construction spending rose unexpectedly in March after five straight declines.”

Green shoots my friend, green shoots.

Disaster began out here (subprime, et all). Bottoming and recovery starts here first.

[eclipxe]

http://www.huffingtonpost.com/2009/05/04/sp-500-nears-breakeven-fo_n_196002.html

“Two months ago, an S&P 500 in positive ground would have seemed impossible, with the stock market having fallen to 12-year lows on fears of a worsening recession. Monday’s rally was led by the same financial and housing stocks that were decimated by the credit crisis and the sinking economy, and it added more momentum to a stunning rally that began March 10.

A double dose of good housing news ignited the advance: Pending U.S. home sales rose more than forecast and had their second straight monthly gain, while construction spending rose unexpectedly in March after five straight declines.”

Green shoots my friend, green shoots.

Disaster began out here (subprime, et all). Bottoming and recovery starts here first.

[Rt.66]

“permanent condition” huh? I’m sure you are right, why wouldn’t the banks hold onto thousands of foreclosed houses permanent like? Maybe they’ll just bulldoze them?

“I’m the guy that bought 4 months ago and recent comps show me up $40k.”

Dude are you up $40k or not?

You searched out a little chunk of TV that had foreclosed lots in the picture and somehow those lots “skew the numbers”? Ok, I’ll go along, YOUR map shows 240 REOs, there are 20 empty lots so now we are down to a non-disaster number of 220 REOs on just those few streets? 220, yeah that’s much better, sorry I said anything.

220 in just a few streets at the beginning of an ARM meltdown, sure looks like a bottom.

[Rt.66]

“permanent condition” huh? I’m sure you are right, why wouldn’t the banks hold onto thousands of foreclosed houses permanent like? Maybe they’ll just bulldoze them?

“I’m the guy that bought 4 months ago and recent comps show me up $40k.”

Dude are you up $40k or not?

You searched out a little chunk of TV that had foreclosed lots in the picture and somehow those lots “skew the numbers”? Ok, I’ll go along, YOUR map shows 240 REOs, there are 20 empty lots so now we are down to a non-disaster number of 220 REOs on just those few streets? 220, yeah that’s much better, sorry I said anything.

220 in just a few streets at the beginning of an ARM meltdown, sure looks like a bottom.

[Rt.66]

“permanent condition” huh? I’m sure you are right, why wouldn’t the banks hold onto thousands of foreclosed houses permanent like? Maybe they’ll just bulldoze them?

“I’m the guy that bought 4 months ago and recent comps show me up $40k.”

Dude are you up $40k or not?

You searched out a little chunk of TV that had foreclosed lots in the picture and somehow those lots “skew the numbers”? Ok, I’ll go along, YOUR map shows 240 REOs, there are 20 empty lots so now we are down to a non-disaster number of 220 REOs on just those few streets? 220, yeah that’s much better, sorry I said anything.

220 in just a few streets at the beginning of an ARM meltdown, sure looks like a bottom.

[Rt.66]

“permanent condition” huh? I’m sure you are right, why wouldn’t the banks hold onto thousands of foreclosed houses permanent like? Maybe they’ll just bulldoze them?

“I’m the guy that bought 4 months ago and recent comps show me up $40k.”

Dude are you up $40k or not?

You searched out a little chunk of TV that had foreclosed lots in the picture and somehow those lots “skew the numbers”? Ok, I’ll go along, YOUR map shows 240 REOs, there are 20 empty lots so now we are down to a non-disaster number of 220 REOs on just those few streets? 220, yeah that’s much better, sorry I said anything.

220 in just a few streets at the beginning of an ARM meltdown, sure looks like a bottom.

[Rt.66]

“permanent condition” huh? I’m sure you are right, why wouldn’t the banks hold onto thousands of foreclosed houses permanent like? Maybe they’ll just bulldoze them?

“I’m the guy that bought 4 months ago and recent comps show me up $40k.”

Dude are you up $40k or not?

You searched out a little chunk of TV that had foreclosed lots in the picture and somehow those lots “skew the numbers”? Ok, I’ll go along, YOUR map shows 240 REOs, there are 20 empty lots so now we are down to a non-disaster number of 220 REOs on just those few streets? 220, yeah that’s much better, sorry I said anything.

220 in just a few streets at the beginning of an ARM meltdown, sure looks like a bottom.

[eclipxe]

[quote=Rt.66]”permanent condition” huh? I’m sure you are right, why wouldn’t the banks hold onto thousands of foreclosed houses permanent like? Maybe they’ll just bulldoze them?

“I’m the guy that bought 4 months ago and recent comps show me up $40k.”

Dude are you up $40k or not?

You searched out a little chunk of TV that had foreclosed lots in the picture and somehow those lots “skew the numbers”? Ok, I’ll go along, YOUR map shows 240 REOs, there are 20 empty lots so now we are down to a non-disaster number of 220 REOs on just those few streets? 220, yeah that’s much better, sorry I said anything.

220 in just a few streets at the beginning of an ARM meltdown, sure looks like a bottom.[/quote]

I’m not up anything. I stated that recent comps show my value up $40k, but I have not realized those gains in real dollars.

I searched out *my* neighborhood that just happened to illustrate some of the misleading data from RealtyTrac. You asked for me to post a shot, I have nothing to hide. Post a shot of your neighborhood?

To be accurate, it is not in Temecula. I’m actually in an unincorporated part (Murrieta address, Temecula schools). I consider this area to be inferior to Temecula’s core and the nicer parts of South Temecula/Redhawk/Morgan Hill. That map also includes several condos, so the density has to be taken into mind.

[eclipxe]

[quote=Rt.66]”permanent condition” huh? I’m sure you are right, why wouldn’t the banks hold onto thousands of foreclosed houses permanent like? Maybe they’ll just bulldoze them?

“I’m the guy that bought 4 months ago and recent comps show me up $40k.”

Dude are you up $40k or not?

You searched out a little chunk of TV that had foreclosed lots in the picture and somehow those lots “skew the numbers”? Ok, I’ll go along, YOUR map shows 240 REOs, there are 20 empty lots so now we are down to a non-disaster number of 220 REOs on just those few streets? 220, yeah that’s much better, sorry I said anything.

220 in just a few streets at the beginning of an ARM meltdown, sure looks like a bottom.[/quote]

I’m not up anything. I stated that recent comps show my value up $40k, but I have not realized those gains in real dollars.

I searched out *my* neighborhood that just happened to illustrate some of the misleading data from RealtyTrac. You asked for me to post a shot, I have nothing to hide. Post a shot of your neighborhood?

To be accurate, it is not in Temecula. I’m actually in an unincorporated part (Murrieta address, Temecula schools). I consider this area to be inferior to Temecula’s core and the nicer parts of South Temecula/Redhawk/Morgan Hill. That map also includes several condos, so the density has to be taken into mind.

[eclipxe]

[quote=Rt.66]”permanent condition” huh? I’m sure you are right, why wouldn’t the banks hold onto thousands of foreclosed houses permanent like? Maybe they’ll just bulldoze them?

“I’m the guy that bought 4 months ago and recent comps show me up $40k.”

Dude are you up $40k or not?

You searched out a little chunk of TV that had foreclosed lots in the picture and somehow those lots “skew the numbers”? Ok, I’ll go along, YOUR map shows 240 REOs, there are 20 empty lots so now we are down to a non-disaster number of 220 REOs on just those few streets? 220, yeah that’s much better, sorry I said anything.

220 in just a few streets at the beginning of an ARM meltdown, sure looks like a bottom.[/quote]

I’m not up anything. I stated that recent comps show my value up $40k, but I have not realized those gains in real dollars.

I searched out *my* neighborhood that just happened to illustrate some of the misleading data from RealtyTrac. You asked for me to post a shot, I have nothing to hide. Post a shot of your neighborhood?

To be accurate, it is not in Temecula. I’m actually in an unincorporated part (Murrieta address, Temecula schools). I consider this area to be inferior to Temecula’s core and the nicer parts of South Temecula/Redhawk/Morgan Hill. That map also includes several condos, so the density has to be taken into mind.

[eclipxe]

[quote=Rt.66]”permanent condition” huh? I’m sure you are right, why wouldn’t the banks hold onto thousands of foreclosed houses permanent like? Maybe they’ll just bulldoze them?

“I’m the guy that bought 4 months ago and recent comps show me up $40k.”

Dude are you up $40k or not?

You searched out a little chunk of TV that had foreclosed lots in the picture and somehow those lots “skew the numbers”? Ok, I’ll go along, YOUR map shows 240 REOs, there are 20 empty lots so now we are down to a non-disaster number of 220 REOs on just those few streets? 220, yeah that’s much better, sorry I said anything.

220 in just a few streets at the beginning of an ARM meltdown, sure looks like a bottom.[/quote]

I’m not up anything. I stated that recent comps show my value up $40k, but I have not realized those gains in real dollars.

I searched out *my* neighborhood that just happened to illustrate some of the misleading data from RealtyTrac. You asked for me to post a shot, I have nothing to hide. Post a shot of your neighborhood?

To be accurate, it is not in Temecula. I’m actually in an unincorporated part (Murrieta address, Temecula schools). I consider this area to be inferior to Temecula’s core and the nicer parts of South Temecula/Redhawk/Morgan Hill. That map also includes several condos, so the density has to be taken into mind.

[Author]

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