[KamFongasChinHo]

macmichael, so you infer that I’m angry? Well, my posts speak for themselves. But this real estate fiasco has made me angry at a lot of people. From Angelo Mozilo and his band of crooks who mad boatloads of money for themselves, but left shareholders to die. I’m angry at the speculators who lied about their incomes, whether they were purchasing a property for investment purposes, etc. on their Alt A mortgages to squeeze into homes and pushed home affordability to astronomical levels in California. I’m angry at the mortgae insurers and bond rating agencies who led to this mess by not accurately rating the risks of the companies’ making these loans. I’m angry that anyone would think that someone should receive a government bailout for risks people too that had they been successful would be rich today, but instead want a hand out for reckless decisions.

This thread has some information on an area I’m familiar with and has interesting properties where people still seem to think there is no credit crisis, no housing crisis, and homes still deserve to be priced high even though the easy money from 2003 to 2005 in unavailable. I lost money investing in Washington Mutual, Bear Sterns, Countrywide Financial, Fremont, Thornburg but luckily stayed clear of New Century.

The money I lost was due to a lot of people’s reckless behavior, influenced by greed and easy money. No one cared to think of the problems caused by extremely high housing prices, because too many people were making money from 2002-2006. Let all these people pay the price for their greed and risks. I paid the price for substantial losses in what I thought to be financially sound companies with smart management.

I say let the market play out, I just think it will be interesting to watch this area along with the Coastal regions who still think that housing prices deserve to go up 8-20% per year. I do hope that buyers are savvy enough to wait until prices drop to a point where they are not at risk to lose a home they cannot afford.

>>>Kam

From this and other writing you seem very angry about the Del Cerro area.

“This area is crazy if you ask me. If I were a lender I’d want a whole lot of skin in the game to assure that my money is going to be returned to me and not speculated with a “flip.””.

How come? If you think the area is so overpriced and lacks value why do you follow this thread?>>>

[KamFongasChinHo]

macmichael, so you infer that I’m angry? Well, my posts speak for themselves. But this real estate fiasco has made me angry at a lot of people. From Angelo Mozilo and his band of crooks who mad boatloads of money for themselves, but left shareholders to die. I’m angry at the speculators who lied about their incomes, whether they were purchasing a property for investment purposes, etc. on their Alt A mortgages to squeeze into homes and pushed home affordability to astronomical levels in California. I’m angry at the mortgae insurers and bond rating agencies who led to this mess by not accurately rating the risks of the companies’ making these loans. I’m angry that anyone would think that someone should receive a government bailout for risks people too that had they been successful would be rich today, but instead want a hand out for reckless decisions.

This thread has some information on an area I’m familiar with and has interesting properties where people still seem to think there is no credit crisis, no housing crisis, and homes still deserve to be priced high even though the easy money from 2003 to 2005 in unavailable. I lost money investing in Washington Mutual, Bear Sterns, Countrywide Financial, Fremont, Thornburg but luckily stayed clear of New Century.

The money I lost was due to a lot of people’s reckless behavior, influenced by greed and easy money. No one cared to think of the problems caused by extremely high housing prices, because too many people were making money from 2002-2006. Let all these people pay the price for their greed and risks. I paid the price for substantial losses in what I thought to be financially sound companies with smart management.

I say let the market play out, I just think it will be interesting to watch this area along with the Coastal regions who still think that housing prices deserve to go up 8-20% per year. I do hope that buyers are savvy enough to wait until prices drop to a point where they are not at risk to lose a home they cannot afford.

>>>Kam

From this and other writing you seem very angry about the Del Cerro area.

“This area is crazy if you ask me. If I were a lender I’d want a whole lot of skin in the game to assure that my money is going to be returned to me and not speculated with a “flip.””.

How come? If you think the area is so overpriced and lacks value why do you follow this thread?>>>

[KamFongasChinHo]

macmichael, so you infer that I’m angry? Well, my posts speak for themselves. But this real estate fiasco has made me angry at a lot of people. From Angelo Mozilo and his band of crooks who mad boatloads of money for themselves, but left shareholders to die. I’m angry at the speculators who lied about their incomes, whether they were purchasing a property for investment purposes, etc. on their Alt A mortgages to squeeze into homes and pushed home affordability to astronomical levels in California. I’m angry at the mortgae insurers and bond rating agencies who led to this mess by not accurately rating the risks of the companies’ making these loans. I’m angry that anyone would think that someone should receive a government bailout for risks people too that had they been successful would be rich today, but instead want a hand out for reckless decisions.

This thread has some information on an area I’m familiar with and has interesting properties where people still seem to think there is no credit crisis, no housing crisis, and homes still deserve to be priced high even though the easy money from 2003 to 2005 in unavailable. I lost money investing in Washington Mutual, Bear Sterns, Countrywide Financial, Fremont, Thornburg but luckily stayed clear of New Century.

The money I lost was due to a lot of people’s reckless behavior, influenced by greed and easy money. No one cared to think of the problems caused by extremely high housing prices, because too many people were making money from 2002-2006. Let all these people pay the price for their greed and risks. I paid the price for substantial losses in what I thought to be financially sound companies with smart management.

I say let the market play out, I just think it will be interesting to watch this area along with the Coastal regions who still think that housing prices deserve to go up 8-20% per year. I do hope that buyers are savvy enough to wait until prices drop to a point where they are not at risk to lose a home they cannot afford.

>>>Kam

From this and other writing you seem very angry about the Del Cerro area.

“This area is crazy if you ask me. If I were a lender I’d want a whole lot of skin in the game to assure that my money is going to be returned to me and not speculated with a “flip.””.

How come? If you think the area is so overpriced and lacks value why do you follow this thread?>>>

[KamFongasChinHo]

macmichael, so you infer that I’m angry? Well, my posts speak for themselves. But this real estate fiasco has made me angry at a lot of people. From Angelo Mozilo and his band of crooks who mad boatloads of money for themselves, but left shareholders to die. I’m angry at the speculators who lied about their incomes, whether they were purchasing a property for investment purposes, etc. on their Alt A mortgages to squeeze into homes and pushed home affordability to astronomical levels in California. I’m angry at the mortgae insurers and bond rating agencies who led to this mess by not accurately rating the risks of the companies’ making these loans. I’m angry that anyone would think that someone should receive a government bailout for risks people too that had they been successful would be rich today, but instead want a hand out for reckless decisions.

This thread has some information on an area I’m familiar with and has interesting properties where people still seem to think there is no credit crisis, no housing crisis, and homes still deserve to be priced high even though the easy money from 2003 to 2005 in unavailable. I lost money investing in Washington Mutual, Bear Sterns, Countrywide Financial, Fremont, Thornburg but luckily stayed clear of New Century.

The money I lost was due to a lot of people’s reckless behavior, influenced by greed and easy money. No one cared to think of the problems caused by extremely high housing prices, because too many people were making money from 2002-2006. Let all these people pay the price for their greed and risks. I paid the price for substantial losses in what I thought to be financially sound companies with smart management.

I say let the market play out, I just think it will be interesting to watch this area along with the Coastal regions who still think that housing prices deserve to go up 8-20% per year. I do hope that buyers are savvy enough to wait until prices drop to a point where they are not at risk to lose a home they cannot afford.

>>>Kam

From this and other writing you seem very angry about the Del Cerro area.

“This area is crazy if you ask me. If I were a lender I’d want a whole lot of skin in the game to assure that my money is going to be returned to me and not speculated with a “flip.””.

How come? If you think the area is so overpriced and lacks value why do you follow this thread?>>>

[KamFongasChinHo]

macmichael, so you infer that I’m angry? Well, my posts speak for themselves. But this real estate fiasco has made me angry at a lot of people. From Angelo Mozilo and his band of crooks who mad boatloads of money for themselves, but left shareholders to die. I’m angry at the speculators who lied about their incomes, whether they were purchasing a property for investment purposes, etc. on their Alt A mortgages to squeeze into homes and pushed home affordability to astronomical levels in California. I’m angry at the mortgae insurers and bond rating agencies who led to this mess by not accurately rating the risks of the companies’ making these loans. I’m angry that anyone would think that someone should receive a government bailout for risks people too that had they been successful would be rich today, but instead want a hand out for reckless decisions.

This thread has some information on an area I’m familiar with and has interesting properties where people still seem to think there is no credit crisis, no housing crisis, and homes still deserve to be priced high even though the easy money from 2003 to 2005 in unavailable. I lost money investing in Washington Mutual, Bear Sterns, Countrywide Financial, Fremont, Thornburg but luckily stayed clear of New Century.

The money I lost was due to a lot of people’s reckless behavior, influenced by greed and easy money. No one cared to think of the problems caused by extremely high housing prices, because too many people were making money from 2002-2006. Let all these people pay the price for their greed and risks. I paid the price for substantial losses in what I thought to be financially sound companies with smart management.

I say let the market play out, I just think it will be interesting to watch this area along with the Coastal regions who still think that housing prices deserve to go up 8-20% per year. I do hope that buyers are savvy enough to wait until prices drop to a point where they are not at risk to lose a home they cannot afford.

>>>Kam

From this and other writing you seem very angry about the Del Cerro area.

“This area is crazy if you ask me. If I were a lender I’d want a whole lot of skin in the game to assure that my money is going to be returned to me and not speculated with a “flip.””.

How come? If you think the area is so overpriced and lacks value why do you follow this thread?>>>

[KamFongasChinHo]

Poway Seller, my numbers on Yokohama are “off”? Tell me how so. Below I’ll list the price history from SDlookup.com along with its current asking price of $834,995 an 8% increase from 2003 vs. the 50+% for the Dwane property. A Google search of the 5838 Yokohama property shows that it was also listed in November of 2007 go here http://tinyurl.com/6k57ge and yet, SDLookup.com shows 3 DOM for Yokohama. What kind of games are these people playing? The property has been for sale since November of 2007 and it’s now only showing 3 DOM? And what makes you believe this property will sell at this price now when it didn’t sell before? Or did you mean something else by “gone soon” as in maybe they’ll need to referesh their DOM again?

You are beginning to have a credibility problem Poway_Seller if you didn’t have one already.

Date Price Held Return Annual
11/24/2003 $770,250 2y 9m 40% 13%
02/22/2001 $550,000 6m 5% 9%
07/31/2000 $525,000 13y 1m 72% 4%
06/23/1987 $305,000 n/a – –

>>>Submitted by poway_seller on June 5, 2008 – 11:38am.
your numbers on yokohama are off, either way that will be gone soon so inventory will shrink even further.

[KamFongasChinHo]

Poway Seller, my numbers on Yokohama are “off”? Tell me how so. Below I’ll list the price history from SDlookup.com along with its current asking price of $834,995 an 8% increase from 2003 vs. the 50+% for the Dwane property. A Google search of the 5838 Yokohama property shows that it was also listed in November of 2007 go here http://tinyurl.com/6k57ge and yet, SDLookup.com shows 3 DOM for Yokohama. What kind of games are these people playing? The property has been for sale since November of 2007 and it’s now only showing 3 DOM? And what makes you believe this property will sell at this price now when it didn’t sell before? Or did you mean something else by “gone soon” as in maybe they’ll need to referesh their DOM again?

You are beginning to have a credibility problem Poway_Seller if you didn’t have one already.

Date Price Held Return Annual
11/24/2003 $770,250 2y 9m 40% 13%
02/22/2001 $550,000 6m 5% 9%
07/31/2000 $525,000 13y 1m 72% 4%
06/23/1987 $305,000 n/a – –

>>>Submitted by poway_seller on June 5, 2008 – 11:38am.
your numbers on yokohama are off, either way that will be gone soon so inventory will shrink even further.

[KamFongasChinHo]

Poway Seller, my numbers on Yokohama are “off”? Tell me how so. Below I’ll list the price history from SDlookup.com along with its current asking price of $834,995 an 8% increase from 2003 vs. the 50+% for the Dwane property. A Google search of the 5838 Yokohama property shows that it was also listed in November of 2007 go here http://tinyurl.com/6k57ge and yet, SDLookup.com shows 3 DOM for Yokohama. What kind of games are these people playing? The property has been for sale since November of 2007 and it’s now only showing 3 DOM? And what makes you believe this property will sell at this price now when it didn’t sell before? Or did you mean something else by “gone soon” as in maybe they’ll need to referesh their DOM again?

You are beginning to have a credibility problem Poway_Seller if you didn’t have one already.

Date Price Held Return Annual
11/24/2003 $770,250 2y 9m 40% 13%
02/22/2001 $550,000 6m 5% 9%
07/31/2000 $525,000 13y 1m 72% 4%
06/23/1987 $305,000 n/a – –

>>>Submitted by poway_seller on June 5, 2008 – 11:38am.
your numbers on yokohama are off, either way that will be gone soon so inventory will shrink even further.

[KamFongasChinHo]

Poway Seller, my numbers on Yokohama are “off”? Tell me how so. Below I’ll list the price history from SDlookup.com along with its current asking price of $834,995 an 8% increase from 2003 vs. the 50+% for the Dwane property. A Google search of the 5838 Yokohama property shows that it was also listed in November of 2007 go here http://tinyurl.com/6k57ge and yet, SDLookup.com shows 3 DOM for Yokohama. What kind of games are these people playing? The property has been for sale since November of 2007 and it’s now only showing 3 DOM? And what makes you believe this property will sell at this price now when it didn’t sell before? Or did you mean something else by “gone soon” as in maybe they’ll need to referesh their DOM again?

You are beginning to have a credibility problem Poway_Seller if you didn’t have one already.

Date Price Held Return Annual
11/24/2003 $770,250 2y 9m 40% 13%
02/22/2001 $550,000 6m 5% 9%
07/31/2000 $525,000 13y 1m 72% 4%
06/23/1987 $305,000 n/a – –

>>>Submitted by poway_seller on June 5, 2008 – 11:38am.
your numbers on yokohama are off, either way that will be gone soon so inventory will shrink even further.

[KamFongasChinHo]

Poway Seller, my numbers on Yokohama are “off”? Tell me how so. Below I’ll list the price history from SDlookup.com along with its current asking price of $834,995 an 8% increase from 2003 vs. the 50+% for the Dwane property. A Google search of the 5838 Yokohama property shows that it was also listed in November of 2007 go here http://tinyurl.com/6k57ge and yet, SDLookup.com shows 3 DOM for Yokohama. What kind of games are these people playing? The property has been for sale since November of 2007 and it’s now only showing 3 DOM? And what makes you believe this property will sell at this price now when it didn’t sell before? Or did you mean something else by “gone soon” as in maybe they’ll need to referesh their DOM again?

You are beginning to have a credibility problem Poway_Seller if you didn’t have one already.

Date Price Held Return Annual
11/24/2003 $770,250 2y 9m 40% 13%
02/22/2001 $550,000 6m 5% 9%
07/31/2000 $525,000 13y 1m 72% 4%
06/23/1987 $305,000 n/a – –

>>>Submitted by poway_seller on June 5, 2008 – 11:38am.
your numbers on yokohama are off, either way that will be gone soon so inventory will shrink even further.

[KamFongasChinHo]

What do you consider “stability”? Two of the “Million dollar homes” have been for sell for approximately 6 months. Obviously they are overpriced and who knows how distressed they soon will become? And yes the inventory is shrinking so some can reset their DOM. Look at the Yokohama house below which was also listed in November 2007 and got no buyers. Interesting too that this home sold for $~$750k in 2003 and can’t find a buyer in the $800k range in 2008. The 6450 Dwane home sold for ~$700k in 2003 and is listed for $1.2 million. This area is crazy if you ask me. If I were a lender I’d want a whole lot of skin in the game to assure that my money is going to be returned to me and not speculated with a “flip.” We’ve had stupid bankers the last 7 years who’ve lost billions for their companies. It won’t continue, I guarantee that so prices will have to come down to reduce the risk and exposure banks have with their loans.

http://www.sdlookup.com/MLS-080039492-5838_Yokohama_San_Diego_Ca_92120

>>>Seems like inventory is shrinking in the >$800,000 (>3000 sq feet) homes on the hill. Not many more new places coming online, and existing stuff is being pulled or going pending/sold.

…

Smells like stability to me.>>>>

[KamFongasChinHo]

What do you consider “stability”? Two of the “Million dollar homes” have been for sell for approximately 6 months. Obviously they are overpriced and who knows how distressed they soon will become? And yes the inventory is shrinking so some can reset their DOM. Look at the Yokohama house below which was also listed in November 2007 and got no buyers. Interesting too that this home sold for $~$750k in 2003 and can’t find a buyer in the $800k range in 2008. The 6450 Dwane home sold for ~$700k in 2003 and is listed for $1.2 million. This area is crazy if you ask me. If I were a lender I’d want a whole lot of skin in the game to assure that my money is going to be returned to me and not speculated with a “flip.” We’ve had stupid bankers the last 7 years who’ve lost billions for their companies. It won’t continue, I guarantee that so prices will have to come down to reduce the risk and exposure banks have with their loans.

http://www.sdlookup.com/MLS-080039492-5838_Yokohama_San_Diego_Ca_92120

>>>Seems like inventory is shrinking in the >$800,000 (>3000 sq feet) homes on the hill. Not many more new places coming online, and existing stuff is being pulled or going pending/sold.

…

Smells like stability to me.>>>>

[KamFongasChinHo]

What do you consider “stability”? Two of the “Million dollar homes” have been for sell for approximately 6 months. Obviously they are overpriced and who knows how distressed they soon will become? And yes the inventory is shrinking so some can reset their DOM. Look at the Yokohama house below which was also listed in November 2007 and got no buyers. Interesting too that this home sold for $~$750k in 2003 and can’t find a buyer in the $800k range in 2008. The 6450 Dwane home sold for ~$700k in 2003 and is listed for $1.2 million. This area is crazy if you ask me. If I were a lender I’d want a whole lot of skin in the game to assure that my money is going to be returned to me and not speculated with a “flip.” We’ve had stupid bankers the last 7 years who’ve lost billions for their companies. It won’t continue, I guarantee that so prices will have to come down to reduce the risk and exposure banks have with their loans.

http://www.sdlookup.com/MLS-080039492-5838_Yokohama_San_Diego_Ca_92120

>>>Seems like inventory is shrinking in the >$800,000 (>3000 sq feet) homes on the hill. Not many more new places coming online, and existing stuff is being pulled or going pending/sold.

…

Smells like stability to me.>>>>

[KamFongasChinHo]

What do you consider “stability”? Two of the “Million dollar homes” have been for sell for approximately 6 months. Obviously they are overpriced and who knows how distressed they soon will become? And yes the inventory is shrinking so some can reset their DOM. Look at the Yokohama house below which was also listed in November 2007 and got no buyers. Interesting too that this home sold for $~$750k in 2003 and can’t find a buyer in the $800k range in 2008. The 6450 Dwane home sold for ~$700k in 2003 and is listed for $1.2 million. This area is crazy if you ask me. If I were a lender I’d want a whole lot of skin in the game to assure that my money is going to be returned to me and not speculated with a “flip.” We’ve had stupid bankers the last 7 years who’ve lost billions for their companies. It won’t continue, I guarantee that so prices will have to come down to reduce the risk and exposure banks have with their loans.

http://www.sdlookup.com/MLS-080039492-5838_Yokohama_San_Diego_Ca_92120

>>>Seems like inventory is shrinking in the >$800,000 (>3000 sq feet) homes on the hill. Not many more new places coming online, and existing stuff is being pulled or going pending/sold.

…

Smells like stability to me.>>>>

[KamFongasChinHo]

What do you consider “stability”? Two of the “Million dollar homes” have been for sell for approximately 6 months. Obviously they are overpriced and who knows how distressed they soon will become? And yes the inventory is shrinking so some can reset their DOM. Look at the Yokohama house below which was also listed in November 2007 and got no buyers. Interesting too that this home sold for $~$750k in 2003 and can’t find a buyer in the $800k range in 2008. The 6450 Dwane home sold for ~$700k in 2003 and is listed for $1.2 million. This area is crazy if you ask me. If I were a lender I’d want a whole lot of skin in the game to assure that my money is going to be returned to me and not speculated with a “flip.” We’ve had stupid bankers the last 7 years who’ve lost billions for their companies. It won’t continue, I guarantee that so prices will have to come down to reduce the risk and exposure banks have with their loans.

http://www.sdlookup.com/MLS-080039492-5838_Yokohama_San_Diego_Ca_92120

>>>Seems like inventory is shrinking in the >$800,000 (>3000 sq feet) homes on the hill. Not many more new places coming online, and existing stuff is being pulled or going pending/sold.

…

Smells like stability to me.>>>>

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