[Eugene]

Would you have even dared to hope for such a listing even 1 year or 2 years ago? No way. This is more pressure in our favor (and good news for all regular families, actually).

What really amazes me is that people really paid 900k-1m for those houses a year or two ago. In 2005, you could have gotten a new 3000 square foot house in 4S Ranch for high 700’s. Yes it’s a different part of town but come on. Even the climate is better in 4S Ranch. Especially if you have kids. Would you rather have your children rub elbows with illegal aliens and kids from Chula Vista ghettos, or send them to a school with good demographic in Poway school district?

[Eugene]

Would you have even dared to hope for such a listing even 1 year or 2 years ago? No way. This is more pressure in our favor (and good news for all regular families, actually).

What really amazes me is that people really paid 900k-1m for those houses a year or two ago. In 2005, you could have gotten a new 3000 square foot house in 4S Ranch for high 700’s. Yes it’s a different part of town but come on. Even the climate is better in 4S Ranch. Especially if you have kids. Would you rather have your children rub elbows with illegal aliens and kids from Chula Vista ghettos, or send them to a school with good demographic in Poway school district?

[Eugene]

BTW I’m willing to bet twenty bucks that
* It’s a short sale for at least $200k below their loan balance
* They haven’t talked to the bank recently
* If you make them an offer for $610k, bank will decline the short sale

[Eugene]

BTW I’m willing to bet twenty bucks that
* It’s a short sale for at least $200k below their loan balance
* They haven’t talked to the bank recently
* If you make them an offer for $610k, bank will decline the short sale

[Eugene]

BTW I’m willing to bet twenty bucks that
* It’s a short sale for at least $200k below their loan balance
* They haven’t talked to the bank recently
* If you make them an offer for $610k, bank will decline the short sale

[Eugene]

BTW I’m willing to bet twenty bucks that
* It’s a short sale for at least $200k below their loan balance
* They haven’t talked to the bank recently
* If you make them an offer for $610k, bank will decline the short sale

[Eugene]

BTW I’m willing to bet twenty bucks that
* It’s a short sale for at least $200k below their loan balance
* They haven’t talked to the bank recently
* If you make them an offer for $610k, bank will decline the short sale

[Eugene]

BTW I’m willing to bet twenty bucks that
* It’s a short sale for at least $200k below their loan balance
* They haven’t talked to the bank recently
* If you make them an offer for $610k, bank will decline the short sale

[Eugene]

Wow. On one tiny street (50-ish homes) we have:

1271 Silver Hawk Way (2,963 sf) – $750k to $791k, original sale $608k (??)
1304 Silver Hawk Way (3,096 sf) – $650k, original sale $911k
1308 Silver Hawk Way (3,381 sf) – $610k to $626k, original sale $1.06m
1315 Silver Hawk Way (3,136 sf) – $700k to $725k, original sale $918k
1316 Silver Hawk Way (3,080 sf) – $686k, REO
1319 Silver Hawk Way (3,381 sf) – $775k, REO
1327 Silver Hawk Way (3,136 sf) – $625k to $650k, original sale $894.5k

1260 Silver Hawk Way (2,565 sf) – REO, currently unlisted
1328 Silver Hawk Way (2,909 sf) – was foreclosed and sold as a REO to a knife catcher for $740k

[Eugene]

Wow. On one tiny street (50-ish homes) we have:

1271 Silver Hawk Way (2,963 sf) – $750k to $791k, original sale $608k (??)
1304 Silver Hawk Way (3,096 sf) – $650k, original sale $911k
1308 Silver Hawk Way (3,381 sf) – $610k to $626k, original sale $1.06m
1315 Silver Hawk Way (3,136 sf) – $700k to $725k, original sale $918k
1316 Silver Hawk Way (3,080 sf) – $686k, REO
1319 Silver Hawk Way (3,381 sf) – $775k, REO
1327 Silver Hawk Way (3,136 sf) – $625k to $650k, original sale $894.5k

1260 Silver Hawk Way (2,565 sf) – REO, currently unlisted
1328 Silver Hawk Way (2,909 sf) – was foreclosed and sold as a REO to a knife catcher for $740k

[Eugene]

Wow. On one tiny street (50-ish homes) we have:

1271 Silver Hawk Way (2,963 sf) – $750k to $791k, original sale $608k (??)
1304 Silver Hawk Way (3,096 sf) – $650k, original sale $911k
1308 Silver Hawk Way (3,381 sf) – $610k to $626k, original sale $1.06m
1315 Silver Hawk Way (3,136 sf) – $700k to $725k, original sale $918k
1316 Silver Hawk Way (3,080 sf) – $686k, REO
1319 Silver Hawk Way (3,381 sf) – $775k, REO
1327 Silver Hawk Way (3,136 sf) – $625k to $650k, original sale $894.5k

1260 Silver Hawk Way (2,565 sf) – REO, currently unlisted
1328 Silver Hawk Way (2,909 sf) – was foreclosed and sold as a REO to a knife catcher for $740k

[Eugene]

Wow. On one tiny street (50-ish homes) we have:

1271 Silver Hawk Way (2,963 sf) – $750k to $791k, original sale $608k (??)
1304 Silver Hawk Way (3,096 sf) – $650k, original sale $911k
1308 Silver Hawk Way (3,381 sf) – $610k to $626k, original sale $1.06m
1315 Silver Hawk Way (3,136 sf) – $700k to $725k, original sale $918k
1316 Silver Hawk Way (3,080 sf) – $686k, REO
1319 Silver Hawk Way (3,381 sf) – $775k, REO
1327 Silver Hawk Way (3,136 sf) – $625k to $650k, original sale $894.5k

1260 Silver Hawk Way (2,565 sf) – REO, currently unlisted
1328 Silver Hawk Way (2,909 sf) – was foreclosed and sold as a REO to a knife catcher for $740k

[Eugene]

Wow. On one tiny street (50-ish homes) we have:

1271 Silver Hawk Way (2,963 sf) – $750k to $791k, original sale $608k (??)
1304 Silver Hawk Way (3,096 sf) – $650k, original sale $911k
1308 Silver Hawk Way (3,381 sf) – $610k to $626k, original sale $1.06m
1315 Silver Hawk Way (3,136 sf) – $700k to $725k, original sale $918k
1316 Silver Hawk Way (3,080 sf) – $686k, REO
1319 Silver Hawk Way (3,381 sf) – $775k, REO
1327 Silver Hawk Way (3,136 sf) – $625k to $650k, original sale $894.5k

1260 Silver Hawk Way (2,565 sf) – REO, currently unlisted
1328 Silver Hawk Way (2,909 sf) – was foreclosed and sold as a REO to a knife catcher for $740k

[Eugene]

For example, what if the house gets foreclosed on? Will I get kicked out and lose the remaining rent I paid?

Well, you will have a contract that specifies that you want your money back if you’re evicted for any reason (including fire, flood, or foreclosure). If he does not cooperate, you can threaten to take him to the court. Assuming he still has your money.

There are a few things you should do to protect yourself. Avoid renting houses bought in 2005-2006. Before moving in, check if NOD has been filed against the house. Don’t pay more than six months’ rent at once. If NOD does get filed, switch to month-to-month payments. Once your landlord defaults on his mortgage, you have four months or more until the foreclosure auction. Worst case scenario, you get a notice of default the day after you paid 6 month rent, you will lose 2 months.

[Eugene]

For example, what if the house gets foreclosed on? Will I get kicked out and lose the remaining rent I paid?

Well, you will have a contract that specifies that you want your money back if you’re evicted for any reason (including fire, flood, or foreclosure). If he does not cooperate, you can threaten to take him to the court. Assuming he still has your money.

There are a few things you should do to protect yourself. Avoid renting houses bought in 2005-2006. Before moving in, check if NOD has been filed against the house. Don’t pay more than six months’ rent at once. If NOD does get filed, switch to month-to-month payments. Once your landlord defaults on his mortgage, you have four months or more until the foreclosure auction. Worst case scenario, you get a notice of default the day after you paid 6 month rent, you will lose 2 months.

[Author]

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