There are some newer estates mixed in with the funky old beach cottages and flower fields of Leucadia, 92024. Here's a 3,838 square footer that sold for $1,895,000 when it was new in 2006:
Leucadia Estate
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Short Sales
One Slice of Reality
The psycho-babble was flying today. First it was McMillin talking the party line like an NAR booster in an article in the U-T, saying it is a great time to buy or sell. Then HW features more ivory-tower guys talking about the market, entitling the article: Homebuyer...
Pre-Approved Short Sales?
Editor: Bofa keeps tip-toeing around the short-sale problem. Their vaunted Equator platform has turned into a launching-pad-to-the-Black-Hole, and their "appraisals" are coming in a solid 10% above retail, killing every deal that comes along. Now they're rolling...
Clueless About SS Fraud
The ignorance prevails - I talked to the clerk at the association of realtors today, who said he has only heard of one case of short sale fraud. I see at least one case every day! From the sddt.com: Short sale fraud is costing lenders hundreds of millions of dollars...
REO/Short-Sale Mix
This chart makes it clear - servicers are pushing for short sales, instead of foreclosure:
Foreclosures Direct
This sounded like a big move: Eric Friedman is leaving his post as senior vice president of default servicing for OneWest Bank, formerly IndyMac, and will become president of PREO, an online marketplace for REO and short sales. Friedman, who held leadership roles...
Blurry
The astute observers can pick out the suspicious deals from a mile away. But how do they play into the decision-making on the street? How can you capitalize on the extra knowledge? If there was an area that had a bad comp but had more good comps and was generally...
Anything But Foreclosure
Citigroup reported last week, and so did Bofa - from HW: Bank of America reported $35.7bn in nonperforming loans, leases and foreclosed properties in Q210, which is 15% above levels measured in the same quarter of last year. These loans and properties increased more...
Short Sale Tsunami?
Short sales have to be the best device for those determined to kick the can down the road - the processing delays are already legendary, and many end up in the black hole of goo. IF the servicer gets pressured about making a decision, they can resort to 'the big...
Trustee-Sale Cancellations
From HW, though it may sound somewhat familar: Lenders are canceling more foreclosure sales in California than ever before, and new financial and political demand for short sales could be the culprit. Lenders canceled nearly 22,000 California foreclosure sales in...
