The foreclosure tours are winding down – I’m glad I didn’t get a bus!
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The foreclosure tours are winding down – I’m glad I didn’t get a bus!
I was looking though my usual real estate advertisements and one caught my eye. It’s a bank owned property, looks like it’s on Las Planideras, overlooking Morgan Run. 8,500 square feet….no other information other than one pic looking straight down the steep hill to the golf course. price yet to be determined.
I think it might be this modern, angular type house that is brand new, but nobody lives there. Has two pools and everything, it’s quite a house.
An 8,500 square feet bank owned in RSF? Sounds good to me! If you can find that one, it would make for quite a video with JTR.
Nothing like listenin’ to JtR when insomnia hits!
From the LA Times (online): “Countrywide Made Preferential Loans to Fannie Mae and Freddie Mac Employees Congressional Panel Finds”
Full article: http://www.latimes.com/business/la-fi-countrywide-loans-20100721,0,2326062.story?track=rss&utm_source=feedburner&utm_medium=feed&utm_campa
The value of JPMorgan Chase’s real estate owned (REO) assets — insured by government agencies — nearly tripled since Q209, due to a large increase in the rate of mortgage buybacks from Ginnie Mae mortgage-backed securities (MBS), the bank confirmed to Housing Wire this week.
Hey, JtR, nice quote in the Wall Street Journal this morning (July 20). Not bad for the anti-realtor from north county. How about seeing if the Journal will do one of their neat little line-sketch head shots of you next time . . .
Correction: JtR’s quote is in the July 21 Wall Street Journal. I took yesterday off to catch the south swell rolling in, so my body clock is a day late.
The guy moved next door? Is he renting?
Great captions!
Since nobody else has linked to the WSJ article with Jim’s quote yet, here it is:
http://online.wsj.com/article/SB10001424052748704723604575379463676740680.html?KEYWORDS=jim+klinge
“The sellers think the market’s coming back. They’ve tacked on an extra 5 to 10 to 15%. The buyers aren’t going for it,” says Jim Klinge, a real-estate agent in Carlsbad, Calif. Over the next six months, “it’s going to feel like a double-dip because sellers are going to have to lower their prices.”
The next three paragraphs give real world examples of sellers not willing to lower their prices…
Not all sellers will take that step. Jerry Anderson has listed his four-bedroom home in Dana Point, Calif., on and off the market for the last two years. He’s cut the price to $1.25 million, down from $1.75 million, but hasn’t had any offers on the home, which has three fireplaces and ocean views.
Mr. Anderson, who bought the home in 1987, says he’ll take it off the market in December if it doesn’t sell rather than cut the price.
Matt Carney listed his Moreno Valley, Calif., home for $337,000 in February, and lowered the price on Tuesday for the third time, to $297,000. He says he can’t go any lower because he owes $274,000 on the home and doesn’t want to dip into savings to pay for transaction costs.
$297k in Moreno Valley will get you a very, very nice house (3,500-4,000 sq ft). He’s probably still overpricing it.
Opps, guess I should have scrolled down. 😛