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ocrenter
ParticipantI really don’t think these are foreign Asian buyers. In all likelihood these are the folks employed in the IT sector around the I-15.
most of the newer immigrants do not know about how the bubble came to be, most don’t evenr realize 5 years ago these same homes were more along the line of $400,000. A lot of these folks get their news from the Chinese World Journal, not the U-T and certainly not Piggington. What they do know is that these homes were $900,000 just a year ago. Plus culturally buying a home means you have made it in the good US of A. it’s something to brag about to folks back home.
So armed with that, you too would be lining up to buy these homes.
we had a neighbor that bought a 1800 sqft detached condo in 4S Ranch for $650,000 in April of last year. he’s a Chinese national that stayed here after he got his phd. the family keeps most of their lights turned off at night to save on utility, does his own trimming of the garden, drives a 15 year old Honda. I know this guy would never foreclose, but from the way it looks that 1800 sqft detached condo will be a forever home for this phd and that Honda will probably be in the family for another decade. But hey, at least he can brag about acheiving his American dream just right out of grad school!
August 10, 2007 at 8:06 AM in reply to: Where is the Outrage? Realtors gone amok,still ripping off the Banks #72683Participantbugs, point well taken. the latest post in the series delt with Air-Monica’s turn to the Dark Forces. It doesn’t talk about why these transactions are suspicious in nature. I just put up a new post with all of the links on Super-Jenae and friends from when we first caught wind of her antics in April, some of them show comparables with much lower prices yet no sale.
August 10, 2007 at 8:06 AM in reply to: Where is the Outrage? Realtors gone amok,still ripping off the Banks #72801Participantbugs, point well taken. the latest post in the series delt with Air-Monica’s turn to the Dark Forces. It doesn’t talk about why these transactions are suspicious in nature. I just put up a new post with all of the links on Super-Jenae and friends from when we first caught wind of her antics in April, some of them show comparables with much lower prices yet no sale.
August 10, 2007 at 8:06 AM in reply to: Where is the Outrage? Realtors gone amok,still ripping off the Banks #72808Participantbugs, point well taken. the latest post in the series delt with Air-Monica’s turn to the Dark Forces. It doesn’t talk about why these transactions are suspicious in nature. I just put up a new post with all of the links on Super-Jenae and friends from when we first caught wind of her antics in April, some of them show comparables with much lower prices yet no sale.
Participantwith all these IT folks roaming around looking for homes, sounds like it’s time to buy 20 homes and flip for profit!
Participantwith all these IT folks roaming around looking for homes, sounds like it’s time to buy 20 homes and flip for profit!
Participantwith all these IT folks roaming around looking for homes, sounds like it’s time to buy 20 homes and flip for profit!
Participantagain, somebody just reading the headlines, but not the details. From the same article:
For much of the past year, demand for office space in the corridor has been weak.
The area’s office vacancy rate hovered near 20 percent in the second quarter – above the countywide average. The average amount of time that lease space has been on the market in the I-15 corridor area is 31 months, the highest in the county, said David Marino, a principal with tenant broker Irving Hughes.
“I-15 is a mess,” Marino said. “It’s a market that’s been tough for two years now. I don’t know where guys like Jay Paul think they’re going to find tenants.”
And here’s my personal observation: one of the buildings in that 3 building campus at I-15 and the 56 put up by Kilroy Realty was slated for none other than “NEW CENTURY MORTGAGE.”
Oh boy, the irony!
Participantagain, somebody just reading the headlines, but not the details. From the same article:
For much of the past year, demand for office space in the corridor has been weak.
The area’s office vacancy rate hovered near 20 percent in the second quarter – above the countywide average. The average amount of time that lease space has been on the market in the I-15 corridor area is 31 months, the highest in the county, said David Marino, a principal with tenant broker Irving Hughes.
“I-15 is a mess,” Marino said. “It’s a market that’s been tough for two years now. I don’t know where guys like Jay Paul think they’re going to find tenants.”
And here’s my personal observation: one of the buildings in that 3 building campus at I-15 and the 56 put up by Kilroy Realty was slated for none other than “NEW CENTURY MORTGAGE.”
Oh boy, the irony!
Participantagain, somebody just reading the headlines, but not the details. From the same article:
For much of the past year, demand for office space in the corridor has been weak.
The area’s office vacancy rate hovered near 20 percent in the second quarter – above the countywide average. The average amount of time that lease space has been on the market in the I-15 corridor area is 31 months, the highest in the county, said David Marino, a principal with tenant broker Irving Hughes.
“I-15 is a mess,” Marino said. “It’s a market that’s been tough for two years now. I don’t know where guys like Jay Paul think they’re going to find tenants.”
And here’s my personal observation: one of the buildings in that 3 building campus at I-15 and the 56 put up by Kilroy Realty was slated for none other than “NEW CENTURY MORTGAGE.”
Oh boy, the irony!
Participantthis one is classic,
“Well to me this is tragic…. Most consumers have an average score of 675, which where does it put them…alt a for now…
Some markets are impossible to do full doc… We work in a highly immigrant area, where you literally need to go stated or no doc or no ratio based on the way their employers pay them…
Oh well, in this case I am screwed…. Its not that I don’t have clients, I do, but without alt-a, I truly will not be able to close loans. It is 98 percent of my offices business”
based on the way their emplyers are paying them, they really have no business buying a house!
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