[Eugene]

Regarding the REO on Mesa Norte

It’s amazing. They had 4 acres to work with and they couldn’t find enough room to put in a proper driveway. You can’t make a u-turn in that driveway without hitting a wall or getting into a flowerbed. You’ll have to drive 200 feet backwards from the garage to the street.

I’d expect a little more consideration to be put into building a 2 million home.

[Eugene]

Regarding the REO on Mesa Norte

It’s amazing. They had 4 acres to work with and they couldn’t find enough room to put in a proper driveway. You can’t make a u-turn in that driveway without hitting a wall or getting into a flowerbed. You’ll have to drive 200 feet backwards from the garage to the street.

I’d expect a little more consideration to be put into building a 2 million home.

[Eugene]

Even if those numbers do include repos, 92127 is not that distressed. It averaged 10 repos per month in the second half of 2007.

http://www.sdlookup.com/MLS_Updates-85-Rancho_Bernardo

6 “sale pending”, 3 “closed sale” in one week.

I think something is wrong with their data. Try to order the list of actual properties.

[Eugene]

Even if those numbers do include repos, 92127 is not that distressed. It averaged 10 repos per month in the second half of 2007.

http://www.sdlookup.com/MLS_Updates-85-Rancho_Bernardo

6 “sale pending”, 3 “closed sale” in one week.

I think something is wrong with their data. Try to order the list of actual properties.

[Eugene]

Even if those numbers do include repos, 92127 is not that distressed. It averaged 10 repos per month in the second half of 2007.

http://www.sdlookup.com/MLS_Updates-85-Rancho_Bernardo

6 “sale pending”, 3 “closed sale” in one week.

I think something is wrong with their data. Try to order the list of actual properties.

[Eugene]

Even if those numbers do include repos, 92127 is not that distressed. It averaged 10 repos per month in the second half of 2007.

http://www.sdlookup.com/MLS_Updates-85-Rancho_Bernardo

6 “sale pending”, 3 “closed sale” in one week.

I think something is wrong with their data. Try to order the list of actual properties.

[Eugene]

Even if those numbers do include repos, 92127 is not that distressed. It averaged 10 repos per month in the second half of 2007.

http://www.sdlookup.com/MLS_Updates-85-Rancho_Bernardo

6 “sale pending”, 3 “closed sale” in one week.

I think something is wrong with their data. Try to order the list of actual properties.

[Eugene]

Let’s not forget the most important people in this story:

100 million manufacturing workers from the People’s Republic of China – for working 14 hours a day for a pittance making iPods and poisoned toys for Americans

Jiang Zemin, Hu Jintao, and the rest of Chinese government – for buying all dollars Americans spent on iPods and poisoned toys and lending them back to Americans in ever-increasing quantities from 2000 onwards, thus depressing mortgage rates to under 5%.

Where would this bubble be without them?

[Eugene]

Let’s not forget the most important people in this story:

100 million manufacturing workers from the People’s Republic of China – for working 14 hours a day for a pittance making iPods and poisoned toys for Americans

Jiang Zemin, Hu Jintao, and the rest of Chinese government – for buying all dollars Americans spent on iPods and poisoned toys and lending them back to Americans in ever-increasing quantities from 2000 onwards, thus depressing mortgage rates to under 5%.

Where would this bubble be without them?

[Eugene]

Let’s not forget the most important people in this story:

100 million manufacturing workers from the People’s Republic of China – for working 14 hours a day for a pittance making iPods and poisoned toys for Americans

Jiang Zemin, Hu Jintao, and the rest of Chinese government – for buying all dollars Americans spent on iPods and poisoned toys and lending them back to Americans in ever-increasing quantities from 2000 onwards, thus depressing mortgage rates to under 5%.

Where would this bubble be without them?

[Eugene]

Let’s not forget the most important people in this story:

100 million manufacturing workers from the People’s Republic of China – for working 14 hours a day for a pittance making iPods and poisoned toys for Americans

Jiang Zemin, Hu Jintao, and the rest of Chinese government – for buying all dollars Americans spent on iPods and poisoned toys and lending them back to Americans in ever-increasing quantities from 2000 onwards, thus depressing mortgage rates to under 5%.

Where would this bubble be without them?

[Eugene]

Let’s not forget the most important people in this story:

100 million manufacturing workers from the People’s Republic of China – for working 14 hours a day for a pittance making iPods and poisoned toys for Americans

Jiang Zemin, Hu Jintao, and the rest of Chinese government – for buying all dollars Americans spent on iPods and poisoned toys and lending them back to Americans in ever-increasing quantities from 2000 onwards, thus depressing mortgage rates to under 5%.

Where would this bubble be without them?

[Eugene]

“I am shocked at how many foreign buyers seem to want to own USA real estate.”

I see where you’re coming from but there’s one problem.

Foreign buyers aren’t snapping up McMansions in Florida to such an extent as to stop the bubble from collapsing. And Florida has some enormous advantages over San Diego for a prospective foreign vacation property buyer:

– About two times cheaper (median SFR in 300’s in Miami, low 200’s in Tampa)

– WARM OCEAN (low 70’s in December!)

– Direct 8-9 hour flights connecting Miami with London and Paris

Once we hear about rich Brits reversing the decline in Miami, I’ll start worrying about San Diego.

[Eugene]

“I am shocked at how many foreign buyers seem to want to own USA real estate.”

I see where you’re coming from but there’s one problem.

Foreign buyers aren’t snapping up McMansions in Florida to such an extent as to stop the bubble from collapsing. And Florida has some enormous advantages over San Diego for a prospective foreign vacation property buyer:

– About two times cheaper (median SFR in 300’s in Miami, low 200’s in Tampa)

– WARM OCEAN (low 70’s in December!)

– Direct 8-9 hour flights connecting Miami with London and Paris

Once we hear about rich Brits reversing the decline in Miami, I’ll start worrying about San Diego.

[Eugene]

“I am shocked at how many foreign buyers seem to want to own USA real estate.”

I see where you’re coming from but there’s one problem.

Foreign buyers aren’t snapping up McMansions in Florida to such an extent as to stop the bubble from collapsing. And Florida has some enormous advantages over San Diego for a prospective foreign vacation property buyer:

– About two times cheaper (median SFR in 300’s in Miami, low 200’s in Tampa)

– WARM OCEAN (low 70’s in December!)

– Direct 8-9 hour flights connecting Miami with London and Paris

Once we hear about rich Brits reversing the decline in Miami, I’ll start worrying about San Diego.

[Author]

Posts