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October 12, 2007 at 7:37 AM in reply to: Good deal in Ranchc Penaquitos, House near golf course #88357October 12, 2007 at 7:37 AM in reply to: Good deal in Ranchc Penaquitos, House near golf course #88364
SD Realtor
ParticipantCritter I agree… when I first looked I saw that as well but when I dug deeper I found the same thing you did. Strange indeed!
Voz I am not thrilled with that portion of PQ when I compare it to other areas of PQ on the west side of PQ so to speak. I had looked at a foreclosure near there one day a few weeks back with some clients and we sat on the street for about 45 minutes just chatting. Needless to say the people that drove by blasting there boom booms were not what my clients would be happy with considering they had little kids. Also there are alot of apartments nearby and someone can correct me if I am wrong but there is some low income housing near there as well.
Manmom are you around? Duck you live in PQ as well don’t you? Can either of you guys comment on the northeast corner of PQ near the Doubletree? As I said Voz I think there are some more desireable areas of PQ and if you guys are waiting anyways I think you will find some great deals.
SD Realtor
SD Realtor
October 12, 2007 at 7:31 AM in reply to: 4 bedroom houses in Mira Mesa going for $355K and $368K #88356ParticipantJimmy remember our friend on Penara?
SD Realtor
October 12, 2007 at 7:31 AM in reply to: 4 bedroom houses in Mira Mesa going for $355K and $368K #88362ParticipantJimmy remember our friend on Penara?
SD Realtor
October 12, 2007 at 7:30 AM in reply to: Why did it take so long to put a foreclosed house on a market? #88354ParticipantAgreed with HLS… it does appear there is a little improvement with the loss mitigation teams getting homes on the market but that varies with lenders. I am puzzled as well why sometimes it takes months and sometimes it does not. As you also know, some that post here think that lenders do not put homes up for sale on purpose in order to conceal losses. I will not speculate on that theory since it is something I know little about and am not sure I agree with.
SD Realtor
October 12, 2007 at 7:30 AM in reply to: Why did it take so long to put a foreclosed house on a market? #88360ParticipantAgreed with HLS… it does appear there is a little improvement with the loss mitigation teams getting homes on the market but that varies with lenders. I am puzzled as well why sometimes it takes months and sometimes it does not. As you also know, some that post here think that lenders do not put homes up for sale on purpose in order to conceal losses. I will not speculate on that theory since it is something I know little about and am not sure I agree with.
SD Realtor
ParticipantRay you pegged it… On top of that, the entire Liberty Station deal was a total screw up by the city of SD. The developer really got a great deal thanks to our idiots at city hall or city council… So what Ray is saying is that alot of smart money got in there and got in there quick. Many friends of the developers, and others simply got in at first crack and the appreciation has been substantial in a very small amount of time. So don’t expect to see much distress in Liberty Station at all… Basically those that live there do not have to sell and those that do have to sell have the luxury of a large equity cushion and a relatively (given this crappy market) high demand. Lots of listings in there that have expired, recycled, expired or cancelled again. Don’t get me wrong, prices have come down there but not by much.
As Ray said it will be sticky over there… really sticky.
SD Realtor
ParticipantRay you pegged it… On top of that, the entire Liberty Station deal was a total screw up by the city of SD. The developer really got a great deal thanks to our idiots at city hall or city council… So what Ray is saying is that alot of smart money got in there and got in there quick. Many friends of the developers, and others simply got in at first crack and the appreciation has been substantial in a very small amount of time. So don’t expect to see much distress in Liberty Station at all… Basically those that live there do not have to sell and those that do have to sell have the luxury of a large equity cushion and a relatively (given this crappy market) high demand. Lots of listings in there that have expired, recycled, expired or cancelled again. Don’t get me wrong, prices have come down there but not by much.
As Ray said it will be sticky over there… really sticky.
SD Realtor
October 11, 2007 at 10:36 PM in reply to: Good deal in Ranchc Penaquitos, House near golf course #88302ParticipantHi Jimmy. Just to clarify, this home is not on the Carmel Highlands golf course. It is on the Doubletree golf course and you would much rather be on the Carmel Highlands course then this one. Also I would kind of steer clear of this part of RP. (Just my personal preference but others who know RP may echo the same sentiment)… If you want that golf course property sit tight a few years and try to buy in 92127 or 92128.
SD Realtor
October 11, 2007 at 10:36 PM in reply to: Good deal in Ranchc Penaquitos, House near golf course #88308ParticipantHi Jimmy. Just to clarify, this home is not on the Carmel Highlands golf course. It is on the Doubletree golf course and you would much rather be on the Carmel Highlands course then this one. Also I would kind of steer clear of this part of RP. (Just my personal preference but others who know RP may echo the same sentiment)… If you want that golf course property sit tight a few years and try to buy in 92127 or 92128.
SD Realtor
ParticipantBSR… any money is to much money in my book. It is not okay to say well a little bit here will not make a dent, and a little bit there will not make a dent. When you let someone be irresponsible (if only by a little bit at a time) then they will continue to do so…
I hope Bushes veto will not be needed. However it is only a matter of time before Hillary is president. I would be more then happy to wager that Hillary will not only not veto something like this, but she will most likely sponser many more bills like this.
SD Realtor
ParticipantBSR… any money is to much money in my book. It is not okay to say well a little bit here will not make a dent, and a little bit there will not make a dent. When you let someone be irresponsible (if only by a little bit at a time) then they will continue to do so…
I hope Bushes veto will not be needed. However it is only a matter of time before Hillary is president. I would be more then happy to wager that Hillary will not only not veto something like this, but she will most likely sponser many more bills like this.
SD Realtor
ParticipantAgreed with the poster about the trend line being more important then any monthly results. It is a marathon not a sprint. Just keep patient and keep your time horizon realistic. Personally I am still irritated that the foreclosures rate for homes in the neighborhoods I want to live in is agonizingly low. I do not believe it will pick up for awhile.
SD Realtor
ParticipantAgreed with the poster about the trend line being more important then any monthly results. It is a marathon not a sprint. Just keep patient and keep your time horizon realistic. Personally I am still irritated that the foreclosures rate for homes in the neighborhoods I want to live in is agonizingly low. I do not believe it will pick up for awhile.
SD Realtor
ParticipantFLU this is an interesting article. I don’t really understand what is going on here. Someone please correct me if I am wrong… Here is a quote from the article…
“OPFM owner Wesley A. Snyder told customers that they would be responsible for significantly larger mortgages the company had brokered through its mortgage lending partners.”
To me that statement seems a bit different then the standard bonehead 5/1 or 3/1 ARMs. To me it seems like these guys originated mortgages and then resold them at HIGHER rates! Like BSR said that is crazy crazy crazy stuff and I think it is fair for a judge to stop that silliness. What would be interesting would be to read the original loan docs of one of these loans to see if there was some clause in there about the ability of the loan to be modified.
However if this is just a case of loan reset then IMO it is improper for the judge to do what he did.
SD Realtor
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