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DaisyDuke
ParticipantScruffy, where did you go? When you’ve been converted to facts, please come forward. We welcome you . . . so long as you bring facts …
DD
ParticipantPropaganda! Publish FACTS.
2778 CASALERO DRIVE, la habra heights, ca
Listing: $1,300,000
Sold: $1,209,000 — 3/30/07They are going up! But then maybe I’m misreading the math?
ParticipantPropaganda! Publish FACTS.
2778 CASALERO DRIVE, la habra heights, ca
Listing: $1,300,000
Sold: $1,209,000 — 3/30/07They are going up! But then maybe I’m misreading the math?
ParticipantFacts – some examples. In each of these I suspect the Sellers paid hidden costs:
14420 Eastridge Drive, Whittier, cA
Listing Price – $789,900
Sold – $750,000 on 6/21/07 (See Zillow)16210 Honnington Street, Whittier, CA
Orig. Listing – $750,000
Price Reduced – $699,900
Sold – $662,500 on 6/8/07 (see Zillow)519 Cherry Street, Brea, CA
Orig. Listing $648,000
Sold – $615,000 on 6/14/07This property was listed for much higher ($699,000) and then taken off the market for a short time. This is the second time it was listed:
2600 Shady Valley Lane, La Habra, CA
Price increased $650,000
Price Reduced $610,000
Sold – $610,000 – 3/22/07So, yeah, prices are going up, up, up!!! I can’t wait to overpay!
ParticipantFacts – some examples. In each of these I suspect the Sellers paid hidden costs:
14420 Eastridge Drive, Whittier, cA
Listing Price – $789,900
Sold – $750,000 on 6/21/07 (See Zillow)16210 Honnington Street, Whittier, CA
Orig. Listing – $750,000
Price Reduced – $699,900
Sold – $662,500 on 6/8/07 (see Zillow)519 Cherry Street, Brea, CA
Orig. Listing $648,000
Sold – $615,000 on 6/14/07This property was listed for much higher ($699,000) and then taken off the market for a short time. This is the second time it was listed:
2600 Shady Valley Lane, La Habra, CA
Price increased $650,000
Price Reduced $610,000
Sold – $610,000 – 3/22/07So, yeah, prices are going up, up, up!!! I can’t wait to overpay!
ParticipantNoh, Noh, Noh, Noh, Noh! LA and OC are seeing tremendous price declines. Many sellers are finally sucking it up and reducing their prices. Verifiable Facts! In Rancho Santa Margarita alone, many homes are short sales. Many listings reference “BIG PRICE REDUCTION” and many of the properties for sale remain vacant. I am personally watching North Orange County inventory and I keep track of it daily — it continues to climb. Certain cities hover at a particular number, but others go up fast.
I also track foreclosure numbers, in particular, REO properties — they are also climbing in San Diego, Orange, Los Angeles, Riverside, etc. When the banks finally unload the hordes of REOs they are holding on their books, that’s going to do a lot to adjust the median price DOWNWARD.
Then, we have Bear Stearns — even Wall Street is saying their situation is just the tip of the iceberg and that more of the same will occur.
Also, if it is so great, why would government get involved to make laws and protect people’s stupid decisions to get into a home/loan they couldn’t afford? Doesn’t the government have bigger and better things to do?
How is this rosy? Am I missing something?
ParticipantNoh, Noh, Noh, Noh, Noh! LA and OC are seeing tremendous price declines. Many sellers are finally sucking it up and reducing their prices. Verifiable Facts! In Rancho Santa Margarita alone, many homes are short sales. Many listings reference “BIG PRICE REDUCTION” and many of the properties for sale remain vacant. I am personally watching North Orange County inventory and I keep track of it daily — it continues to climb. Certain cities hover at a particular number, but others go up fast.
I also track foreclosure numbers, in particular, REO properties — they are also climbing in San Diego, Orange, Los Angeles, Riverside, etc. When the banks finally unload the hordes of REOs they are holding on their books, that’s going to do a lot to adjust the median price DOWNWARD.
Then, we have Bear Stearns — even Wall Street is saying their situation is just the tip of the iceberg and that more of the same will occur.
Also, if it is so great, why would government get involved to make laws and protect people’s stupid decisions to get into a home/loan they couldn’t afford? Doesn’t the government have bigger and better things to do?
How is this rosy? Am I missing something?
May 21, 2007 at 2:48 PM in reply to: Question for sdr, jim, rustico, bugs or other realtors and appraisers #54171ParticipantI haven’t logged in for some time because I didn’t have anything to contribute. I read this thread and was concerned I somehow posted info on foreclosures that is confusing people. So this email is just to maybe (hopefully) clear up a question.
When I posted foreclosure data from RealtyTrac, the numbers for OC, LA and SD they were “raw” numbers. The NODs can sometimes include a piece of property that has more than one default against it so that might be the cause for elevated numbers.
There, now I go back into silence and watch the world turn!
DD
May 21, 2007 at 2:48 PM in reply to: Question for sdr, jim, rustico, bugs or other realtors and appraisers #54184ParticipantI haven’t logged in for some time because I didn’t have anything to contribute. I read this thread and was concerned I somehow posted info on foreclosures that is confusing people. So this email is just to maybe (hopefully) clear up a question.
When I posted foreclosure data from RealtyTrac, the numbers for OC, LA and SD they were “raw” numbers. The NODs can sometimes include a piece of property that has more than one default against it so that might be the cause for elevated numbers.
There, now I go back into silence and watch the world turn!
DD
ParticipantThe squad's goal will be to modify the terms of mortgages to better fit borrowers' actual economic situations today. I suppose when they examine "today", the GSEs/lenders/investors will forgive 50% of the loan on the over-inflated purchase so they can afford a payment? Perhaps wait until a buyer can get a 100% pay increase? Get a job?? Win the lottery?
Among the optional forms of modification will be lowering interest rates [the rates are already low and FB’s are still losing their homes], switching from floating-rate to fixed rate [whatever the fixed rate will be, the rate will still probably be too high for FBs to make their payments], restructuring payment schedules and deferring repayment of arrears [yeah, okay, but what about the FACT that since the FBs fell behind in the first place, they will probably do it again – will FHA/VA/FNMA, et al. defer a deferment !].Bottom line, whatever they try will be too little, too late.
ParticipantYou hear it time and time again, everyone is seeking to get back to the “F U N D A M E N T A L S”. Unless incomes increase SUBSTANTIALLY (which isn’t going to happen), the home prices will have no choice by to come down, sooner (or later). No Wall Street mogul is going to carry the debt of a stupid person for years and years and years. Not gonna happen. Plus, there is no way there is enough governmental funny-money to go around to even fund our military, the deficit, or social security such that our government-types are going to be able to pump enough money (or terms) into this over-inflated housing market.
ParticipantNicely and interestingly put NSR.
Upon reading the original post I wrote to Mudd today telling him just what I think about their bailout efforts.
ParticipantSD – Does this mean there are actually more foreclosures than RealtyTrac is reporting?
Have your page numbers been growing?
ParticipantThis morning’s figures:
OC
4/13/2007 4463 1083 2515 62 2423LA
4/13/2007 16099 2780 9071 115 9289SD
4/13/2007 5658 1070 5745 11 1721 -
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