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SD Realtor
ParticipantI do the same thing hawk…As for who would invest in that mess… and other messes just like it? Aye caramba… I think if we saw the list of entities that made investments in these vehicles it would make us all laugh or cry.
SD Realtor
ParticipantI do the same thing hawk…As for who would invest in that mess… and other messes just like it? Aye caramba… I think if we saw the list of entities that made investments in these vehicles it would make us all laugh or cry.
SD Realtor
ParticipantHawk you are not the only one… While we all cheer (myself included) for the housing market to go belly up… and then cheer more as hedge funds go under, nobody thinks about the collateral damage… Those who say I can’t wait for a recession are pretty self centered because in reality everyone will feel the effects. State and county pensions, teachers pensions, all kinds of collateral damage…yes in the long run it will help the housing market but there is a cost that everyone here on Piggington quietly does not discuss.
SD Realtor
ParticipantHawk you are not the only one… While we all cheer (myself included) for the housing market to go belly up… and then cheer more as hedge funds go under, nobody thinks about the collateral damage… Those who say I can’t wait for a recession are pretty self centered because in reality everyone will feel the effects. State and county pensions, teachers pensions, all kinds of collateral damage…yes in the long run it will help the housing market but there is a cost that everyone here on Piggington quietly does not discuss.
SD Realtor
ParticipantAgreed with Surveyor and FSD. Many better opportunities out of state. Wait a year or two for San Diego rental properties at least.
SD Realtor
ParticipantAgreed with Surveyor and FSD. Many better opportunities out of state. Wait a year or two for San Diego rental properties at least.
SD Realtor
ParticipantHFF – In that mapcode there have been 2 closed escrows in since 4/1/07. They are at 926 Hayes, a 1/1 for 389k and 1230 Johnson a 2/1 (1276 sf) for 695k. Now the one at 1036 did list on the MLS that they have made the upgrades that Bugs commented on. I will say however that with the original purchase of 1036 Hayes, the buyer was represented by an agent who was not in the local area, not a member of SDAR. On the tax roll I only see a single mtg for 650k on the purchase date. No refi or second at all.
There have been NO other close of escrows on the MLS for this mapcode in 2007 besides the two identified above. There is a pending at 4228 Maryland for an 1876 sf home for 650k.
HFF you will appreciate this one. I know the previous owner of the home on Maryland. This guy was an arrogant one… He called me back in the summer of 06 and wanted me to list his home for 850k. He had just purchased it. He was a broker from Arizona and I told him no way would it sell for that and I didn’t want to waste my time. He got all huffy and told me he would call me when he made a 50k profit on the home. Anyways the home went into foreclosure and is now REO and pending at a list price of 650k. Of course Mr Arizona didn’t care because he financed it 100% and just walked away.
SD RealtorParticipantHFF – In that mapcode there have been 2 closed escrows in since 4/1/07. They are at 926 Hayes, a 1/1 for 389k and 1230 Johnson a 2/1 (1276 sf) for 695k. Now the one at 1036 did list on the MLS that they have made the upgrades that Bugs commented on. I will say however that with the original purchase of 1036 Hayes, the buyer was represented by an agent who was not in the local area, not a member of SDAR. On the tax roll I only see a single mtg for 650k on the purchase date. No refi or second at all.
There have been NO other close of escrows on the MLS for this mapcode in 2007 besides the two identified above. There is a pending at 4228 Maryland for an 1876 sf home for 650k.
HFF you will appreciate this one. I know the previous owner of the home on Maryland. This guy was an arrogant one… He called me back in the summer of 06 and wanted me to list his home for 850k. He had just purchased it. He was a broker from Arizona and I told him no way would it sell for that and I didn’t want to waste my time. He got all huffy and told me he would call me when he made a 50k profit on the home. Anyways the home went into foreclosure and is now REO and pending at a list price of 650k. Of course Mr Arizona didn’t care because he financed it 100% and just walked away.
SD RealtorParticipantGuys I did a search on the mapcode of 1269B5. These two homes are in that little niche just to the north where el cajon turns into washington (just east of the 163)… Anyways I did a search on that general mapcode area and pulled up all actives, pendings, solds, expireds, cancelled and withdrawns that have been on the market since 1/1/06. It is alot to write here so if you want I can email the MLS search…. post your emails and I will shoot them over.
I will say this though… 1036 Hayes was sold just last year! It closed escrow in May of 06 at a sales price of 829k. It is currently listed at 839k…
Looks like 1086 Hayes has a 650k mortgage on it right now! Can you say underwater?
Anyways in my search there were 8 actives, 2 pendings, 12 solds, 7 Expired, 4 cancelled and 1 withdrawn. So it would be easiest just to email them to you guys.
SD Realtor
ParticipantGuys I did a search on the mapcode of 1269B5. These two homes are in that little niche just to the north where el cajon turns into washington (just east of the 163)… Anyways I did a search on that general mapcode area and pulled up all actives, pendings, solds, expireds, cancelled and withdrawns that have been on the market since 1/1/06. It is alot to write here so if you want I can email the MLS search…. post your emails and I will shoot them over.
I will say this though… 1036 Hayes was sold just last year! It closed escrow in May of 06 at a sales price of 829k. It is currently listed at 839k…
Looks like 1086 Hayes has a 650k mortgage on it right now! Can you say underwater?
Anyways in my search there were 8 actives, 2 pendings, 12 solds, 7 Expired, 4 cancelled and 1 withdrawn. So it would be easiest just to email them to you guys.
SD Realtor
ParticipantI will check it out… gimme a few…
SD Realtor
ParticipantI will check it out… gimme a few…
SD Realtor
July 17, 2007 at 11:26 AM in reply to: Research (or Speculation) as to timeline for Mortgage Resets and NODs #66154ParticipantNancy I would agree. The only caviot is that they (the entity servicing the loans) would also need to be motivated to enforce the denominator “value” stipulation to trigger the early reset. I also assume that the speculative “value” would be determined in each individual case by what, an independent appraisal? So I am not sure how motivated the lenders or loan servicers will be to add snow to a fast moving avalanche.
SD Realtor
July 17, 2007 at 11:26 AM in reply to: Research (or Speculation) as to timeline for Mortgage Resets and NODs #66218ParticipantNancy I would agree. The only caviot is that they (the entity servicing the loans) would also need to be motivated to enforce the denominator “value” stipulation to trigger the early reset. I also assume that the speculative “value” would be determined in each individual case by what, an independent appraisal? So I am not sure how motivated the lenders or loan servicers will be to add snow to a fast moving avalanche.
SD Realtor
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