[Bugs]

That’s true. Maybe Super Jannae really is the lynchpin in some market manipulation in those neighborhoods, too.

There’s just not enough information on those blog entries for me to make the assumption one way or the other about these sales. I think the buyers are being dumb from a financial perspective, but that doesn’t make these crooked deals. I guess if I looked around I could have an opinion but as of right now the use of 2001 sale prices as an indication that these are far overpriced in 2007 just doesn’t do it for me.

There are enough real problems out there to go chasing inconclusive scenarios.

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Re: Radelow’s project – which I still think is cool – and my question about the inclusion of low density housing….

In counterpoint there are are other factors, too. Increasing density also means increasing infrastructure and dealing with traffic impacts. There might be topography problems or height limitations or who knows what else.

I was just saying that, all other things being equal, our community needs more medium and high density housing in areas that have services and transportation like Mission Valley. There is no pressing need for more high dollar SFDs in this area.

[Bugs]

Re: Radelow’s project – which I still think is cool – and my question about the inclusion of low density housing….

In counterpoint there are are other factors, too. Increasing density also means increasing infrastructure and dealing with traffic impacts. There might be topography problems or height limitations or who knows what else.

I was just saying that, all other things being equal, our community needs more medium and high density housing in areas that have services and transportation like Mission Valley. There is no pressing need for more high dollar SFDs in this area.

[Bugs]

Re: Radelow’s project – which I still think is cool – and my question about the inclusion of low density housing….

In counterpoint there are are other factors, too. Increasing density also means increasing infrastructure and dealing with traffic impacts. There might be topography problems or height limitations or who knows what else.

I was just saying that, all other things being equal, our community needs more medium and high density housing in areas that have services and transportation like Mission Valley. There is no pressing need for more high dollar SFDs in this area.

[Bugs]

Maybe it’s just me, but I’m not seeing the misconduct that’s being alleged here. The original sale prices in 2000, 2001 or 2004 are irrelevant to anything. The amount of cash these sellers are pocketing is also irrelevant. Regardless of what we think the prices SHOULD be, the homes are worth in 2007 what they’re worth in 2007.

I’d have to take a look around to see if the sale prices are reasonable with respect to the local comps so I make no assumptions about that one way or the other. But even if there are problems with comps, that’s not the agents’ problem but rather a problem with the appraiser and the lender who isn’t bothering to watch the appraiser.

Now if we’re alleging mortgage fraud (which I guess is where the blog is going) then I guess there is that – but that occurs with the loan originator and the borrower, not (usually) with the realty agents.

Believe me, there’s nobody on this planet who’s faster to criticize misbehaving “professionals”, but I’d have to see some indication of misconduct before I start casting stones. At most, clearing a profit is no more than an indirect indicator. Even if these agents have a reputation for doing funky things in the past that’s no guarantee that this is funky too.

[Bugs]

Maybe it’s just me, but I’m not seeing the misconduct that’s being alleged here. The original sale prices in 2000, 2001 or 2004 are irrelevant to anything. The amount of cash these sellers are pocketing is also irrelevant. Regardless of what we think the prices SHOULD be, the homes are worth in 2007 what they’re worth in 2007.

I’d have to take a look around to see if the sale prices are reasonable with respect to the local comps so I make no assumptions about that one way or the other. But even if there are problems with comps, that’s not the agents’ problem but rather a problem with the appraiser and the lender who isn’t bothering to watch the appraiser.

Now if we’re alleging mortgage fraud (which I guess is where the blog is going) then I guess there is that – but that occurs with the loan originator and the borrower, not (usually) with the realty agents.

Believe me, there’s nobody on this planet who’s faster to criticize misbehaving “professionals”, but I’d have to see some indication of misconduct before I start casting stones. At most, clearing a profit is no more than an indirect indicator. Even if these agents have a reputation for doing funky things in the past that’s no guarantee that this is funky too.

[Bugs]

Maybe it’s just me, but I’m not seeing the misconduct that’s being alleged here. The original sale prices in 2000, 2001 or 2004 are irrelevant to anything. The amount of cash these sellers are pocketing is also irrelevant. Regardless of what we think the prices SHOULD be, the homes are worth in 2007 what they’re worth in 2007.

I’d have to take a look around to see if the sale prices are reasonable with respect to the local comps so I make no assumptions about that one way or the other. But even if there are problems with comps, that’s not the agents’ problem but rather a problem with the appraiser and the lender who isn’t bothering to watch the appraiser.

Now if we’re alleging mortgage fraud (which I guess is where the blog is going) then I guess there is that – but that occurs with the loan originator and the borrower, not (usually) with the realty agents.

Believe me, there’s nobody on this planet who’s faster to criticize misbehaving “professionals”, but I’d have to see some indication of misconduct before I start casting stones. At most, clearing a profit is no more than an indirect indicator. Even if these agents have a reputation for doing funky things in the past that’s no guarantee that this is funky too.

[Bugs]

Been hittin’ the expresso today, Contraman?

Just kidding.

If it’s any consolation, there are a lot of people who HAVEN’T forgotten about personal responsibility and who HAVEN’T gotten themselves in too deep. The 70% of buyers who used these toxic financing options in the 2003-2006 period does include a small percentage of individuals for whom that really was a reasonable option, as well as some folks who are both willing and able to live with their mistakes. These people are not part of the problem.

There is no financial literacy test for obtaining a mortgage, and if there was a lot of people, including some who are very responsible, would flunk it. Like it or not, some people have to rely on getting good advice from their professional service providers.

Suffice it to say that the maxim – you can’t cheat an honest man – is true for the most part. But’s it’s also true that securities brokers can’t get away with doing some of the things our realty brokers, mortgage lenders and appraisers have been doing for the last few years. There is an element of the public interest involved, above and beyond the personal accountability aspect of this problem.

[Bugs]

Been hittin’ the expresso today, Contraman?

Just kidding.

If it’s any consolation, there are a lot of people who HAVEN’T forgotten about personal responsibility and who HAVEN’T gotten themselves in too deep. The 70% of buyers who used these toxic financing options in the 2003-2006 period does include a small percentage of individuals for whom that really was a reasonable option, as well as some folks who are both willing and able to live with their mistakes. These people are not part of the problem.

There is no financial literacy test for obtaining a mortgage, and if there was a lot of people, including some who are very responsible, would flunk it. Like it or not, some people have to rely on getting good advice from their professional service providers.

Suffice it to say that the maxim – you can’t cheat an honest man – is true for the most part. But’s it’s also true that securities brokers can’t get away with doing some of the things our realty brokers, mortgage lenders and appraisers have been doing for the last few years. There is an element of the public interest involved, above and beyond the personal accountability aspect of this problem.

[Bugs]

Been hittin’ the expresso today, Contraman?

Just kidding.

If it’s any consolation, there are a lot of people who HAVEN’T forgotten about personal responsibility and who HAVEN’T gotten themselves in too deep. The 70% of buyers who used these toxic financing options in the 2003-2006 period does include a small percentage of individuals for whom that really was a reasonable option, as well as some folks who are both willing and able to live with their mistakes. These people are not part of the problem.

There is no financial literacy test for obtaining a mortgage, and if there was a lot of people, including some who are very responsible, would flunk it. Like it or not, some people have to rely on getting good advice from their professional service providers.

Suffice it to say that the maxim – you can’t cheat an honest man – is true for the most part. But’s it’s also true that securities brokers can’t get away with doing some of the things our realty brokers, mortgage lenders and appraisers have been doing for the last few years. There is an element of the public interest involved, above and beyond the personal accountability aspect of this problem.

[Bugs]

I agree that values in the Muirlands area are going to follow a somewhat different curve than homes in most other areas of the County. It’s both coastal and central.

Radelow – I’ve always liked infil development and you guys have a pretty cool project going there, although I must confess to not caring so much for the low density section on the north end.

It seems to me that bumping up some of medium density stuff in the middle to high density and extending the medium density to include the entire northern half would better suit that site. It does side that freeway, after all. What kind of development is on the sites to the north of this project?

[Bugs]

I agree that values in the Muirlands area are going to follow a somewhat different curve than homes in most other areas of the County. It’s both coastal and central.

Radelow – I’ve always liked infil development and you guys have a pretty cool project going there, although I must confess to not caring so much for the low density section on the north end.

It seems to me that bumping up some of medium density stuff in the middle to high density and extending the medium density to include the entire northern half would better suit that site. It does side that freeway, after all. What kind of development is on the sites to the north of this project?

[Bugs]

I agree that values in the Muirlands area are going to follow a somewhat different curve than homes in most other areas of the County. It’s both coastal and central.

Radelow – I’ve always liked infil development and you guys have a pretty cool project going there, although I must confess to not caring so much for the low density section on the north end.

It seems to me that bumping up some of medium density stuff in the middle to high density and extending the medium density to include the entire northern half would better suit that site. It does side that freeway, after all. What kind of development is on the sites to the north of this project?

[Bugs]

Fortunately for me, I am completely uncultured. When I drink, it’s beer; when I go out, it’s mostly for Mexican food; when I socialize, it’s at gunpoint (I’m mostly antisocial). I’ve done most all the traveling I need to do in my life. I’ve lived in a couple other areas of the nation, I’ve spent years in Asia (speak Chinese) and I have absolutely no desire to see Europe or mingle with Europeans on their home turf. Don’t even ask me about Africa or Russia.

The weather isn’t the thing for me. I surf, my kids live here, my wife’s family is all here, and my business is here. Those connections are why I’m here, and other places simply don’t have it. I have no reason to leave and most every reason to stay. The one thing I dislike the most is the population growth we have here. I’d be really happy if SD County dropped in population by a million or so, but that’s not going to happen so I don’t reckon there’s any point in sweating.

Different strokes. For those of you who aren’t that connected, I can see why you think this place is boring and is completely not worth the hassle.

[Bugs]

Fortunately for me, I am completely uncultured. When I drink, it’s beer; when I go out, it’s mostly for Mexican food; when I socialize, it’s at gunpoint (I’m mostly antisocial). I’ve done most all the traveling I need to do in my life. I’ve lived in a couple other areas of the nation, I’ve spent years in Asia (speak Chinese) and I have absolutely no desire to see Europe or mingle with Europeans on their home turf. Don’t even ask me about Africa or Russia.

The weather isn’t the thing for me. I surf, my kids live here, my wife’s family is all here, and my business is here. Those connections are why I’m here, and other places simply don’t have it. I have no reason to leave and most every reason to stay. The one thing I dislike the most is the population growth we have here. I’d be really happy if SD County dropped in population by a million or so, but that’s not going to happen so I don’t reckon there’s any point in sweating.

Different strokes. For those of you who aren’t that connected, I can see why you think this place is boring and is completely not worth the hassle.

[Author]

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