[garysears]

I agree with CA renter. I’m tired of hearing how REO’s are “deeply discounted”. They are actually the market. If they were worth more, people would be paying more.

In the boom times the total crap that is much of the old SD housing stock sold for above asking, seemingly regardless of condition. Buyers were anticipating further appreciation and discounting the amount of renovation necessary in order to “get in the real estate game”.

But now when buyers look at these same properties, they aren’t seeing potential appreciation as much as the long neglected maintenance. All of the sudden it is “in” to make the house liveable. How else can you explain a house built in the 1950s that in 2006 sold for 450K, now all of the sudden in 2009 being a 180K “fixer”. The truth is that it was a fixer in 2006 as well but nobody cared.

The homes that are actually well maintained are few and far between in the areas I’m looking. Most of those must be owned by long term homeowners not in trouble with the mortgage. Too bad the responsible homeowners have their values dragged down by the irresponsible.

[garysears]

I moved to SD in 2003. Thought I wanted to buy but couldn’t afford anything I wanted to live in. I was a little shocked at the prices people were paying and couldn’t understand the mania or where the money was coming from.

In early 2006 I saw a link to this site on craigslist, read the primer and was hooked. I can’t believe that my 3 yrs 11 wks makes me an old timer. Over the years I probably haven’t contributed much of value but have taken a lot.

Still haven’t bought but looking to buy. If I do buy it will probably be a fixer and then I’ll be soliticiting advice for ways to save money on the renovation or maybe looking for contractor references.

[garysears]

I moved to SD in 2003. Thought I wanted to buy but couldn’t afford anything I wanted to live in. I was a little shocked at the prices people were paying and couldn’t understand the mania or where the money was coming from.

In early 2006 I saw a link to this site on craigslist, read the primer and was hooked. I can’t believe that my 3 yrs 11 wks makes me an old timer. Over the years I probably haven’t contributed much of value but have taken a lot.

Still haven’t bought but looking to buy. If I do buy it will probably be a fixer and then I’ll be soliticiting advice for ways to save money on the renovation or maybe looking for contractor references.

[garysears]

I moved to SD in 2003. Thought I wanted to buy but couldn’t afford anything I wanted to live in. I was a little shocked at the prices people were paying and couldn’t understand the mania or where the money was coming from.

In early 2006 I saw a link to this site on craigslist, read the primer and was hooked. I can’t believe that my 3 yrs 11 wks makes me an old timer. Over the years I probably haven’t contributed much of value but have taken a lot.

Still haven’t bought but looking to buy. If I do buy it will probably be a fixer and then I’ll be soliticiting advice for ways to save money on the renovation or maybe looking for contractor references.

[garysears]

I moved to SD in 2003. Thought I wanted to buy but couldn’t afford anything I wanted to live in. I was a little shocked at the prices people were paying and couldn’t understand the mania or where the money was coming from.

In early 2006 I saw a link to this site on craigslist, read the primer and was hooked. I can’t believe that my 3 yrs 11 wks makes me an old timer. Over the years I probably haven’t contributed much of value but have taken a lot.

Still haven’t bought but looking to buy. If I do buy it will probably be a fixer and then I’ll be soliticiting advice for ways to save money on the renovation or maybe looking for contractor references.

[garysears]

I moved to SD in 2003. Thought I wanted to buy but couldn’t afford anything I wanted to live in. I was a little shocked at the prices people were paying and couldn’t understand the mania or where the money was coming from.

In early 2006 I saw a link to this site on craigslist, read the primer and was hooked. I can’t believe that my 3 yrs 11 wks makes me an old timer. Over the years I probably haven’t contributed much of value but have taken a lot.

Still haven’t bought but looking to buy. If I do buy it will probably be a fixer and then I’ll be soliticiting advice for ways to save money on the renovation or maybe looking for contractor references.

[garysears]

1546 FOLKESTONE, Spring Valley, CA 91977**

I love the first sentence of the description:
“Yes of course it’s a short sale, this is spring valley.”

[garysears]

1546 FOLKESTONE, Spring Valley, CA 91977**

I love the first sentence of the description:
“Yes of course it’s a short sale, this is spring valley.”

[garysears]

1546 FOLKESTONE, Spring Valley, CA 91977**

I love the first sentence of the description:
“Yes of course it’s a short sale, this is spring valley.”

[garysears]

1546 FOLKESTONE, Spring Valley, CA 91977**

I love the first sentence of the description:
“Yes of course it’s a short sale, this is spring valley.”

[garysears]

1546 FOLKESTONE, Spring Valley, CA 91977**

I love the first sentence of the description:
“Yes of course it’s a short sale, this is spring valley.”

[garysears]

I read on calculatedrisk that the 2nd mortgages are going for about 2 cents on the dollar on average. Sounds like this is a can’t miss bailout of the 2nd mortgage holders.

[garysears]

I read on calculatedrisk that the 2nd mortgages are going for about 2 cents on the dollar on average. Sounds like this is a can’t miss bailout of the 2nd mortgage holders.

[garysears]

I read on calculatedrisk that the 2nd mortgages are going for about 2 cents on the dollar on average. Sounds like this is a can’t miss bailout of the 2nd mortgage holders.

[garysears]

I read on calculatedrisk that the 2nd mortgages are going for about 2 cents on the dollar on average. Sounds like this is a can’t miss bailout of the 2nd mortgage holders.

[Author]

Posts