Tuesday, June 30, 2009
Sellers
Delusional that is: click here
guess what the market isnt coming back anytime soon.....bunky....
Bank of America:
click here
Tract McMansion of the day from 2500 ( thank you right now ,this is extremely helpful since the editoress is currently experiencing a painful medical condition)
Here is our tract home McMansion of the day. Same MO. Paid $754K 2/2007 and now Mr Bank owns it as of 6/16/2009
http://www.bcpa.net/RecInfo.asp?URL_Folio=513925053260
Home Prices an foreclosures;
click here
Congressional support for used house salesman and appraisals: click here
Faulty appraisals ????click here we think appraisals should be based on real sales like foreclosures since thats what they are really worth in spite of trumped up pricing by the real estate industry. Something is only worth what someone is willing to pay for it !!!
guess what the market isnt coming back anytime soon.....bunky....
Bank of America:
click here
Tract McMansion of the day from 2500 ( thank you right now ,this is extremely helpful since the editoress is currently experiencing a painful medical condition)
Here is our tract home McMansion of the day. Same MO. Paid $754K 2/2007 and now Mr Bank owns it as of 6/16/2009
http://www.bcpa.net/RecInfo.asp?URL_Folio=513925053260
Home Prices an foreclosures;
click here
Congressional support for used house salesman and appraisals: click here
Faulty appraisals ????click here we think appraisals should be based on real sales like foreclosures since thats what they are really worth in spite of trumped up pricing by the real estate industry. Something is only worth what someone is willing to pay for it !!!
Monday, June 29, 2009
Blame it on zillow
click here is this the face of those who got stuck???
Housing predictions
click here
Nobody is mentioning in the appraisal wars that maybe the used house salesmen want to keep the prices high to earn more commission and save face with their customers who they have promised big financial rewards in "navigating the real estate rewards". .
here is a typical article outlining:
click here
Free house club:
click here
The walk away's:
click here
Housing predictions
click here
Nobody is mentioning in the appraisal wars that maybe the used house salesmen want to keep the prices high to earn more commission and save face with their customers who they have promised big financial rewards in "navigating the real estate rewards". .
here is a typical article outlining:
click here
Free house club:
click here
The walk away's:
click here
Sunday, June 28, 2009
Six reasons
click here
Get out of debt free card ?click here
Buying a foreclosed home:
click here
from 2500 sq ft max...
Here was have our tract home McMansion of the day (this baby tops out at a whopping > 4600 sq ft). Same MO, paid way too much and now Mr Bank owns it as of 6/9/2009 and will probably put it on MLS for 50% off.
http://www.bcpa.net/RecInfo.asp?URL_Folio=513925054970
If we do see it on the MLS for 50% off how could this affect the next door homes.
Purchased: 11/2003 for $631K
Purchased: 1/2009 for $421K this is 53K less than the price brand new from the builder in 2003. This person should be OK.
Oh my!
2500 sq ft Max.
Get out of debt free card ?click here
Buying a foreclosed home:
click here
from 2500 sq ft max...
Here was have our tract home McMansion of the day (this baby tops out at a whopping > 4600 sq ft). Same MO, paid way too much and now Mr Bank owns it as of 6/9/2009 and will probably put it on MLS for 50% off.
http://www.bcpa.net/RecInfo.asp?URL_Folio=513925054970
If we do see it on the MLS for 50% off how could this affect the next door homes.
Purchased: 11/2003 for $631K
Purchased: 1/2009 for $421K this is 53K less than the price brand new from the builder in 2003. This person should be OK.
Oh my!
2500 sq ft Max.
Saturday, June 27, 2009
Bermuda Riviera blues
Being that I am featuring, sort of, this area , I was thinking since there is a HOA there what was the status people not paying their dues and bank foreclosures.
We already know two banks currently own two properties I mentioned before.
Here is latest info as of today:
5/4/09 Wachovia issues a final judgement:judgement judgement is for
655,389.69 paid 527,000 purchase here: click here
5/27/09 Final judegement: click here for 737,667.93
purchase $775,000 in 03. click here
Appraisal wars:
6/1/09 Certificate of Title: 3800 N.E. 40th ct. original purchase here;
1,950,000click here
4/09 Certificate of title 35 fort royal drive. note we read outstanding
loan balance was over 2mil.. purchase here; click here
click here
our latest tract mcmansions from 2500 sq ft. max
When purchasing tract home "mini" McMansions even if you think you got a great deal, just as a precaution have plenty of bandaids on hand...as the knives can be plenty sharp.
ON MLS: D1347396 as of 1 day ago for $400K
Purchased 7/2007 for $583K
Got a great deal, previous sales was 4/2006 for $707K a whopping $124K less.
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936021220
Oh My!
2500 sq ft Max.
June 26, 2009 6:17 PM
Anonymous said...
Here was have our tract home Mcmansion of the day. Same MO, paid way to much and now it is on the MLS as of 4 hours ago for 50% off.
MLS: D1337078 for $399,900.00
Purchased: 12/2006 for $810K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936022820
I wonder if the house next door has anything to do with this house on the MLS for 50% off.
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936022810
In this area, the LP notices are still coming unabated. I suspect as more Option Arms and resets occur, they will skyrocket.
2500 sq ft Max.
We already know two banks currently own two properties I mentioned before.
Here is latest info as of today:
5/4/09 Wachovia issues a final judgement:judgement judgement is for
655,389.69 paid 527,000 purchase here: click here
5/27/09 Final judegement: click here for 737,667.93
purchase $775,000 in 03. click here
Appraisal wars:
6/1/09 Certificate of Title: 3800 N.E. 40th ct. original purchase here;
1,950,000click here
4/09 Certificate of title 35 fort royal drive. note we read outstanding
loan balance was over 2mil.. purchase here; click here
click here
our latest tract mcmansions from 2500 sq ft. max
When purchasing tract home "mini" McMansions even if you think you got a great deal, just as a precaution have plenty of bandaids on hand...as the knives can be plenty sharp.
ON MLS: D1347396 as of 1 day ago for $400K
Purchased 7/2007 for $583K
Got a great deal, previous sales was 4/2006 for $707K a whopping $124K less.
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936021220
Oh My!
2500 sq ft Max.
June 26, 2009 6:17 PM
Anonymous said...
Here was have our tract home Mcmansion of the day. Same MO, paid way to much and now it is on the MLS as of 4 hours ago for 50% off.
MLS: D1337078 for $399,900.00
Purchased: 12/2006 for $810K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936022820
I wonder if the house next door has anything to do with this house on the MLS for 50% off.
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936022810
In this area, the LP notices are still coming unabated. I suspect as more Option Arms and resets occur, they will skyrocket.
2500 sq ft Max.
Friday, June 26, 2009
Catch a falling knife
Listing here: now asking 599k and adverted as short sale.
click here
price history:
08/20/08 -- $1,049,777 to $999,777
Price Reduced: 10/04/08 -- $999,777 to $974,777
Price Reduced: 10/24/08 -- $974,777 to $949,000
Price Reduced: 12/02/08 -- $949,000 to $899,000
Price Reduced: 01/05/09 -- $899,000 to $879,000
Price Reduced: 02/03/09 -- $879,000 to $849,000
Price Reduced: 02/10/09 -- $849,000 to $825,000
Price Reduced: 03/13/09 -- $825,000 to $799,000
Price Reduced: 03/20/09 -- $799,000 to $745,000
Price Reduced: 04/08/09 -- $745,000 to $715,000
Price Reduced: 04/17/09 -- $715,000 to $699,000
Price Reduced: 04/29/09 -- $699,000 to $675,000
Price Reduced: 05/13/09 -- $675,000 to $650,000
Price Reduced: 06/03/09 -- $650,000 to $625,000
Price Reduced: 06/25/09 -- $625,000 to $599,000
purchased in 92 for 250k click here
we found one mtg for 500k. record here
The advert of "Short sale" might be a bit of a marketing ploy in my opinion unless they expect to receive less than the 500k owed.
Nice house, the dock needs some work. what do you think it will sell for????
click here
price history:
08/20/08 -- $1,049,777 to $999,777
Price Reduced: 10/04/08 -- $999,777 to $974,777
Price Reduced: 10/24/08 -- $974,777 to $949,000
Price Reduced: 12/02/08 -- $949,000 to $899,000
Price Reduced: 01/05/09 -- $899,000 to $879,000
Price Reduced: 02/03/09 -- $879,000 to $849,000
Price Reduced: 02/10/09 -- $849,000 to $825,000
Price Reduced: 03/13/09 -- $825,000 to $799,000
Price Reduced: 03/20/09 -- $799,000 to $745,000
Price Reduced: 04/08/09 -- $745,000 to $715,000
Price Reduced: 04/17/09 -- $715,000 to $699,000
Price Reduced: 04/29/09 -- $699,000 to $675,000
Price Reduced: 05/13/09 -- $675,000 to $650,000
Price Reduced: 06/03/09 -- $650,000 to $625,000
Price Reduced: 06/25/09 -- $625,000 to $599,000
purchased in 92 for 250k click here
we found one mtg for 500k. record here
The advert of "Short sale" might be a bit of a marketing ploy in my opinion unless they expect to receive less than the 500k owed.
Nice house, the dock needs some work. what do you think it will sell for????
Housing
click here
don't bet the farm on the sucker's rally click here
Rise in home sales: click here
More appraisal blues:click here
Yun's Yarn:click here
don't bet the farm on the sucker's rally click here
Rise in home sales: click here
More appraisal blues:click here
Yun's Yarn:click here
Thursday, June 25, 2009
Prices drop foreclosures rise
click here
Inventory shrinking ?click here
Foreclosures to come;click here
New website;click here we think.. its part of zip realty not sure. good idea, but data doesnt seem to be all there on our quick look see. good idea though.
NAR and appraisals must read...click here
Foreclosures and renting:click here
More to come: click here
Arms:click here
Walking away from millions: click here
Inventory shrinking ?click here
Foreclosures to come;click here
New website;click here we think.. its part of zip realty not sure. good idea, but data doesnt seem to be all there on our quick look see. good idea though.
NAR and appraisals must read...click here
Foreclosures and renting:click here
More to come: click here
Arms:click here
Walking away from millions: click here
Wednesday, June 24, 2009
Another B. Riveria listing
Listing:click here
purchased in 06 for 775k.
click here
it appears fromr records taxes have not been paid.
listing says on zip 300k price reduction, seller wants fast sale.
why would anyone take a small 70's brick cottage and ?
what are those plaster things stuck on the wall for? Faux fireplace?
pillars??
purchased in 06 for 775k.
click here
it appears fromr records taxes have not been paid.
listing says on zip 300k price reduction, seller wants fast sale.
why would anyone take a small 70's brick cottage and ?
what are those plaster things stuck on the wall for? Faux fireplace?
pillars??
numbers
Faulty appraisals:click here
click here we have a couple of questions, how many are get rich flippers?
how many are truly organic home buyers that intend to stay in their homes for 10 years? How many of these contracts will go through ? We have read on several other sites, that these figures are meaningless, tainted by flippers making numerous offers on several foreclosures at that same time, hoping something will stick.
As long as the get rich quick crowd, hamblers, blippers and flippers, are repeating the same actions of the past, nothing will change, it will only be history repeating itself again.
Reality check:
click here
Morea appraisal wars;click here what no more faux appraisals/??
Six billion and counting:click here
2017:click here
2012:click here
Pending home sales ?click here
is worst over?click here just one little problem with this story. The daily business review is reporting today that Dade county has a backlog of 15,000 foreclosures that have not been served....
click here we have a couple of questions, how many are get rich flippers?
how many are truly organic home buyers that intend to stay in their homes for 10 years? How many of these contracts will go through ? We have read on several other sites, that these figures are meaningless, tainted by flippers making numerous offers on several foreclosures at that same time, hoping something will stick.
As long as the get rich quick crowd, hamblers, blippers and flippers, are repeating the same actions of the past, nothing will change, it will only be history repeating itself again.
Reality check:
click here
Morea appraisal wars;click here what no more faux appraisals/??
Six billion and counting:click here
2017:click here
2012:click here
Pending home sales ?click here
is worst over?click here just one little problem with this story. The daily business review is reporting today that Dade county has a backlog of 15,000 foreclosures that have not been served....
Tuesday, June 23, 2009
unemployment, foreclosures
click here
Mortgage implode:click here
more of the same:click here
State of Florida wants a fix:click here
Here's another Bermuda listing;click here
purchased in 1989 for 295k, click here we found one outstanding mtg for 333,800 ( I think).been on the market for almost 60 days according to zip.
The house built in 64 might have bigger issues. We talked with a contractor just for conversation sake, who told me those old houses had lead solder in the plumbing,
could be major surprises in renovation.
Boom Bust;click here
Here's another BRiveria listing been on the marke 326 days:
click here
Purchased in 95 for 500k click here look at the taxes almost 30k/year !! Seller reduced priced 100k first of the year.
Mortgage implode:click here
more of the same:click here
State of Florida wants a fix:click here
Here's another Bermuda listing;click here
purchased in 1989 for 295k, click here we found one outstanding mtg for 333,800 ( I think).been on the market for almost 60 days according to zip.
The house built in 64 might have bigger issues. We talked with a contractor just for conversation sake, who told me those old houses had lead solder in the plumbing,
could be major surprises in renovation.
Boom Bust;click here
Here's another BRiveria listing been on the marke 326 days:
click here
Purchased in 95 for 500k click here look at the taxes almost 30k/year !! Seller reduced priced 100k first of the year.
Monday, June 22, 2009
Bermuda Riveria
Short sale or OEPS listing: click here
purchased for 820k in 08, click here we could only find a record of one of the owners borrowing 850k from a family trust around the first of the year and paying interest only of about 2k/month. I think the short sale might be somewhat of an marketing ploy as I couldnt find records to substantiate same; mtg here It is alo interesting to note that a deed was issued from a previously unamed person even though the record states that they bought the property in November. Obvious flippers in my opinion.
Another OEPS. listing here:
click hereaccording to zip on the system for 90 days. Nice house, though those 8ft ceiling make me feel claustrophobic even if they are raised a bit and coffered. HELOC for 1 mil....or double your money plus.
click here
purchased for 650k in 03 click here
Mortgages plain and simple:click here
Buyer versus rent: click here
Option arms recasts:click here
More option arm fun:click here
purchased for 820k in 08, click here we could only find a record of one of the owners borrowing 850k from a family trust around the first of the year and paying interest only of about 2k/month. I think the short sale might be somewhat of an marketing ploy as I couldnt find records to substantiate same; mtg here It is alo interesting to note that a deed was issued from a previously unamed person even though the record states that they bought the property in November. Obvious flippers in my opinion.
Another OEPS. listing here:
click hereaccording to zip on the system for 90 days. Nice house, though those 8ft ceiling make me feel claustrophobic even if they are raised a bit and coffered. HELOC for 1 mil....or double your money plus.
click here
purchased for 650k in 03 click here
Mortgages plain and simple:click here
Buyer versus rent: click here
Option arms recasts:click here
More option arm fun:click here
Sunday, June 21, 2009
Green shoots/
click here
Wishfull thinking?? we got a note about this house. listing here: listing here. whats interesting is, is original owner who paid 9,400 for in 64, click here it also appears to be free and clear, and clearly a tear down in my opinion, unless you want to be very retro or a nice couple from sobe.
Whats also interesting is that on the next street, there are some flippers who bought a house for 614, just a couple of months ago, flipper house here purchase here: click here
that particular home it appears was owned by the bank for almost 2 years, before the bank decided to sell it for 614k.
HSBC bank owns: 3305 N.E. 39th st. click here
JP Morgan owns 3320 N.E 37th st. click here
More HOA blues:click here
Subdivison sales for noted above:click here
Wishfull thinking?? we got a note about this house. listing here: listing here. whats interesting is, is original owner who paid 9,400 for in 64, click here it also appears to be free and clear, and clearly a tear down in my opinion, unless you want to be very retro or a nice couple from sobe.
Whats also interesting is that on the next street, there are some flippers who bought a house for 614, just a couple of months ago, flipper house here purchase here: click here
that particular home it appears was owned by the bank for almost 2 years, before the bank decided to sell it for 614k.
HSBC bank owns: 3305 N.E. 39th st. click here
JP Morgan owns 3320 N.E 37th st. click here
More HOA blues:click here
Subdivison sales for noted above:click here
Saturday, June 20, 2009
HOA and foreclosure
click here
Finding the bottom: click here
Tract McMansions of the day provided by reader 2500
Here is our tract home McMansion of the day.
Same M.O. here paid way too much, realized this and now is hoping for a short sale to save the credit score.
MLS: F1011726 asking $430K as of 10hours ago.
Purchased: 6/2007 for $831K
http://www.bcpa.net/RecInfo.asp?URL_Folio=514031031280
Yup just made the McMansion classification at 3600 sq ft, but really, $831K for a tract home that is just 100 sq ft into McMansion classification...Oh My!
Lets see how this asking price of $430K may affect the next door neighboring properties.
Purchased: 8/2008 for $575K
Purchased: 4/2009 for $475K this was next day quit claimed to a Church.
Ouch!
2500 sq ft Max.
Here is our second tract home of the day.
Same M.O. again paid way way way way way way too much, realized this and now is hoping for a short sale to save the credit score.
As I said before unfortunately all of the village idiots have since wandered off.
MLS: D1346461 asking $380K as of 7hours ago.
Purchased: 5/2007 for $820K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936022840
$820K for 3145 sq ft and not even a McMansion being 355 sq ft short of said criteria...I am speechless.
Lets take a look at how this asking price of $380K affects the next door neighboring properties.
Purchased: 12/2003 for #344K
Purchased: 2/2004 for $381K
Looks Ok if they did not get giddy and extract equity when they saw the house next door sell for $820K
2500 sq ft Max.
2010 Rates and Price outlook:
click here>
Sub Prime meltdown; click here fixed link from yesterday, by the way, we did a quick glance on the IMF gobal stability report, not easy reading but...
in my opinion very enlightening.
Finding the bottom: click here
Tract McMansions of the day provided by reader 2500
Here is our tract home McMansion of the day.
Same M.O. here paid way too much, realized this and now is hoping for a short sale to save the credit score.
MLS: F1011726 asking $430K as of 10hours ago.
Purchased: 6/2007 for $831K
http://www.bcpa.net/RecInfo.asp?URL_Folio=514031031280
Yup just made the McMansion classification at 3600 sq ft, but really, $831K for a tract home that is just 100 sq ft into McMansion classification...Oh My!
Lets see how this asking price of $430K may affect the next door neighboring properties.
Purchased: 8/2008 for $575K
Purchased: 4/2009 for $475K this was next day quit claimed to a Church.
Ouch!
2500 sq ft Max.
Here is our second tract home of the day.
Same M.O. again paid way way way way way way too much, realized this and now is hoping for a short sale to save the credit score.
As I said before unfortunately all of the village idiots have since wandered off.
MLS: D1346461 asking $380K as of 7hours ago.
Purchased: 5/2007 for $820K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936022840
$820K for 3145 sq ft and not even a McMansion being 355 sq ft short of said criteria...I am speechless.
Lets take a look at how this asking price of $380K affects the next door neighboring properties.
Purchased: 12/2003 for #344K
Purchased: 2/2004 for $381K
Looks Ok if they did not get giddy and extract equity when they saw the house next door sell for $820K
2500 sq ft Max.
2010 Rates and Price outlook:
click here>
Sub Prime meltdown; click here fixed link from yesterday, by the way, we did a quick glance on the IMF gobal stability report, not easy reading but...
in my opinion very enlightening.
Friday, June 19, 2009
Spring
has Sprung....click here
Foreclosure fixes...click here
Subprime meltdown:click here
Female home owners. fat, and unhappy ?click here
Mortgages implode: click here
Appraisal phenomena: click here
More Appraisal comments:click here
Another new web site; closing
Foreclosure fixes...click here
Subprime meltdown:click here
Female home owners. fat, and unhappy ?click here
Mortgages implode: click here
Appraisal phenomena: click here
More Appraisal comments:click here
Another new web site; closing
Thursday, June 18, 2009
Commercial RE
Its a ghost town around here, one strip mall after another empty except for the anchor.
click here
We have added a link for half past human under linguistics. We have been subscribers at a much higher level for more than two years. Its not easy reading, but... it saved us in that we got out of the market in Early October. Would have been sooner except I had a difficult time convincing the other half. WE originally found them visa vie a documentary on the History Channel.
2012: click here this is a good one.
Only in South Florida;click here
click here
We have added a link for half past human under linguistics. We have been subscribers at a much higher level for more than two years. Its not easy reading, but... it saved us in that we got out of the market in Early October. Would have been sooner except I had a difficult time convincing the other half. WE originally found them visa vie a documentary on the History Channel.
2012: click here this is a good one.
Only in South Florida;click here
Wednesday, June 17, 2009
Deutsche Bank
prices to fall another 14 percent.... thats being optomistic in my opinion
click here wonder if their inventory has reached the 2k mark yet in Broward?
click here wonder if their inventory has reached the 2k mark yet in Broward?
Chinese drywall
bigger than ever.... told yah...
click here
tract mcmansion of the day provided by reader: 2500
Tract home McMansion of the day. This listing was just added 9 hours ago and looks like a short sale, but it is not mentioned in the listing as such.
MLS: M1322805 asking $600K
Purchased: 11/2007 for $873K
http://www.bcpa.net/RecInfo.asp?URL_Folio=514031031850
That is a $273K loss in just 18 months if it sells for that price, however I think this price is wishful thinking. Another $100K -$120K and it might sell. The property appraiser says it is worth $520K. Zillow says $467K and Corelogic says $503K.
2500 sq ft Max.
click here
tract mcmansion of the day provided by reader: 2500
Tract home McMansion of the day. This listing was just added 9 hours ago and looks like a short sale, but it is not mentioned in the listing as such.
MLS: M1322805 asking $600K
Purchased: 11/2007 for $873K
http://www.bcpa.net/RecInfo.asp?URL_Folio=514031031850
That is a $273K loss in just 18 months if it sells for that price, however I think this price is wishful thinking. Another $100K -$120K and it might sell. The property appraiser says it is worth $520K. Zillow says $467K and Corelogic says $503K.
2500 sq ft Max.
Wall street on drugs?
click here in spite of Cramer
Mortgages plunge near 7 month low;
click here
There are 469 Foreclosures filed in Broward county according to the business review, as of today.
Mortgages plunge near 7 month low;
click here
There are 469 Foreclosures filed in Broward county according to the business review, as of today.
Tuesday, June 16, 2009
Drywall and pricing
thanks for 2500 for the detailed research.
Here is an example of a tract home McMansion price drop in the drywall article subdivision. It is also another example of how McMansions are plummeting in value like a rock all over.
ON MLS for 310 days: R2948773 asking $469K
Purchased: 6/2006 for $751K
http://www.pbcgov.com/papa/aspx/web/detail_info.aspx?p_entity=00424532030000890
Lets look at the next door properties in relation to this $469K short sale asking price.
Purchased: 5/2006 for $866K
Purchased: 8/2006 for $1,163K yes, thats correct $1.163 million
Oh my !!
2500 sq ft Max.
we noticed in the "Post" that the builder is offering more product. Big ad in Sunday paper I recall. Amazing to me.
Drywall cases all being sent to the "big Easy"
click here
5 New web sites:
click here
Lessons from the past: click here
Strippers: we read last night on craigs list someone was selling a whole kitchen,
cabinets, counter tops, appliances, sinks, etc for a come and uninstall and get it price of 2k, amazing.
Third wave:click here
Here is an example of a tract home McMansion price drop in the drywall article subdivision. It is also another example of how McMansions are plummeting in value like a rock all over.
ON MLS for 310 days: R2948773 asking $469K
Purchased: 6/2006 for $751K
http://www.pbcgov.com/papa/aspx/web/detail_info.aspx?p_entity=00424532030000890
Lets look at the next door properties in relation to this $469K short sale asking price.
Purchased: 5/2006 for $866K
Purchased: 8/2006 for $1,163K yes, thats correct $1.163 million
Oh my !!
2500 sq ft Max.
we noticed in the "Post" that the builder is offering more product. Big ad in Sunday paper I recall. Amazing to me.
Drywall cases all being sent to the "big Easy"
click here
5 New web sites:
click here
Lessons from the past: click here
Strippers: we read last night on craigs list someone was selling a whole kitchen,
cabinets, counter tops, appliances, sinks, etc for a come and uninstall and get it price of 2k, amazing.
Third wave:click here
Monday, June 15, 2009
Strippers
this isnt an Arizona phenomena, as outlined on Craig's list here< article here:
article
Not to say this is a stripper; The FSBO jacuzzi and kitchen center; click here
and another: click here or how about a whole kitchen: click here
Higher and higher...click here
Luxury home market, 41 month supply: click here
Half million loss club from our reader 2500..
Here is a foreclosed tract home McMansion that says it is 2 days new on the MLS. Not "really" new to the MLS, but it now has a new asking price which now makes it a member of the $.5 million loss club.
ON MLS 2 days: M1322064 asking $329,900
Purchased: 7/2006 $850K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513925052930
Lets see how this new asking price affects the properties on either side.
Purchased: 3/2005 for $535K
Purchased: 11/2002 for $432K
Oh my !!!
2500 sq ft Max.
by the way, we agree the owners mentioned in the drywall article problems arent ony drywall, but declining value and continuation of a free falling market due to numerous Lis pendens and Judgements. in our view.
article
Not to say this is a stripper; The FSBO jacuzzi and kitchen center; click here
and another: click here or how about a whole kitchen: click here
Higher and higher...click here
Luxury home market, 41 month supply: click here
Half million loss club from our reader 2500..
Here is a foreclosed tract home McMansion that says it is 2 days new on the MLS. Not "really" new to the MLS, but it now has a new asking price which now makes it a member of the $.5 million loss club.
ON MLS 2 days: M1322064 asking $329,900
Purchased: 7/2006 $850K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513925052930
Lets see how this new asking price affects the properties on either side.
Purchased: 3/2005 for $535K
Purchased: 11/2002 for $432K
Oh my !!!
2500 sq ft Max.
by the way, we agree the owners mentioned in the drywall article problems arent ony drywall, but declining value and continuation of a free falling market due to numerous Lis pendens and Judgements. in our view.
Sunday, June 14, 2009
Chinese Drywall
its bigger than you think...click here It appears there are worst problems than chinese drywall as I counted 55 LP's and or judgements filed since the first of the year for this development.
I have reading craig'st list. all sorts of wannabee take over your mortgage
payment adverts from individuals and would be "investors". I can't figure the reasoning, why would anyone want to take over a mortgage that is more than the likely
underwater?
I have reading craig'st list. all sorts of wannabee take over your mortgage
payment adverts from individuals and would be "investors". I can't figure the reasoning, why would anyone want to take over a mortgage that is more than the likely
underwater?
weekend round up
Logiz: price per sq. ft this week is 113.67 down from the 118. last reported.
Deutsche bank, we projected 2k by months end... close, as of todays record 1191 properties listed at the assessor's office. only 9 more to go. up from original post of 1172.
Search at daily business review noted 323 foreclosure filings from June 1 to June 13th. thats more than 20 a day. last figure was around 28 per day., for Broward county only.
Here's an article on real estate in 2009
click here we like the part about " your house is not... an ATM.
5 Risky real estate deals
click here
Florida hit hard:click here
More mcmansion fun ( from reader 2500 )
On MLS H857617 as of 17 hours ago asking price $450K
Purchased: 3/2007 for $785K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936025260
LP filed 8/28/2008, this one obviously looks like a short sale but no mention in the listing. I guess they find out if they get an offer.
Looks like this one will not end very pretty with another staggering loss on a overpriced McMansion.
Deutsche bank, we projected 2k by months end... close, as of todays record 1191 properties listed at the assessor's office. only 9 more to go. up from original post of 1172.
Search at daily business review noted 323 foreclosure filings from June 1 to June 13th. thats more than 20 a day. last figure was around 28 per day., for Broward county only.
Here's an article on real estate in 2009
click here we like the part about " your house is not... an ATM.
5 Risky real estate deals
click here
Florida hit hard:click here
More mcmansion fun ( from reader 2500 )
On MLS H857617 as of 17 hours ago asking price $450K
Purchased: 3/2007 for $785K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936025260
LP filed 8/28/2008, this one obviously looks like a short sale but no mention in the listing. I guess they find out if they get an offer.
Looks like this one will not end very pretty with another staggering loss on a overpriced McMansion.
Saturday, June 13, 2009
Friday, June 12, 2009
watch your neighbors
click here
Foreclosures cause appraisal problems: click here
Appraisal shock:
click here
Mortgage delinquencies may have peaked click here
don't bet on it, how bout those walkaways eh...
Condo drywall.... this had to happen. .click here
Mortgages. who owns yours ?click here
Foreclosures cause appraisal problems: click here
Appraisal shock:
click here
Mortgage delinquencies may have peaked click here
don't bet on it, how bout those walkaways eh...
Condo drywall.... this had to happen. .click here
Mortgages. who owns yours ?click here
Bank seizures and foreclosures
click here or the foreclosures bucket is filling up faster than would be flippers can buy up the inventory.
Option arms
click here
Option arm update 2click here
Buy a house please, here's 15k. click here
HOA and foreclosures:click here
Foreclosures homes with no insurance:click here
We are number 3, for foreclosures:
two by two thanks to 2500.
Here is a tale of two tract home McMansions.
They side by side. One over paid during the bubble 5/2007 for $845K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936023380
The other is now owned by Mr. Bank as of two weeks ago.
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936023390
Folks this one is not going to end pretty. Each foreclosure feeds this downward spiral. Clearly the high end has a lot to lose.
Oh My!!
2500 sq ft Max.
we recently saw an adin craig's list adverting sellers wanted in Equus because they, the investors knew it was such a good development. I checked the court records and since the first of the year more than 35 liens and lis pendens have been entered in the records. I then asked the advertiser why they were interested in a place with a history of foreclosures and liens, I didn't get an answer.
The above comment brings to mind not only the green pools with skeeters, but the insurance issue expecially if you happen to live close to one of these homes, it could be devastating..
Mortgages reach six month high:
click here
we are no 3 click here
Option arm update 2click here
Buy a house please, here's 15k. click here
HOA and foreclosures:click here
Foreclosures homes with no insurance:click here
We are number 3, for foreclosures:
two by two thanks to 2500.
Here is a tale of two tract home McMansions.
They side by side. One over paid during the bubble 5/2007 for $845K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936023380
The other is now owned by Mr. Bank as of two weeks ago.
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936023390
Folks this one is not going to end pretty. Each foreclosure feeds this downward spiral. Clearly the high end has a lot to lose.
Oh My!!
2500 sq ft Max.
we recently saw an adin craig's list adverting sellers wanted in Equus because they, the investors knew it was such a good development. I checked the court records and since the first of the year more than 35 liens and lis pendens have been entered in the records. I then asked the advertiser why they were interested in a place with a history of foreclosures and liens, I didn't get an answer.
The above comment brings to mind not only the green pools with skeeters, but the insurance issue expecially if you happen to live close to one of these homes, it could be devastating..
Mortgages reach six month high:
click here
we are no 3 click here
Thursday, June 11, 2009
Foreclosure, debt and unemployment
click here
Every 13 secs:click here
Refi fumble:click here
Home Equity protection or what will they.. think of next. click here
New home sites: click here
Housing is not recovering... surprise..click here
No more "wild spending"?click here
Every 13 secs:click here
Refi fumble:click here
Home Equity protection or what will they.. think of next. click here
New home sites: click here
Housing is not recovering... surprise..click here
No more "wild spending"?click here
Wednesday, June 10, 2009
Biggest Loser two
thanks to reader 2500 again for this great find..
LP filed today 6/9/2009 on a tract home that just made the cut of 3500sq ft for McMansion at 3600
http://205.166.161.12/oncoreV2/showdetails.aspx?id=47892636&rn=2&pi=0&ref=search
Purchased 1/2007 for $901K
http://www.bcpa.net/RecInfo.asp?URL_Folio=514031021240
Imagine paying over $900K for a 3600 sq ft tract home. It must have gold fixtures in the kitchen and bathrooms. And, this was 1/2007when this was purchased, they did not get the memo on housing prices.
If this LP goes to auction it will have a devastating impact on the comps as this will be a member of the $.5 million loss club.
Lets look at properties on either of this LP.
Purchased: 11/2006 for $902K
Purchased: 1/2007 for $986K
3600 sq ft at foreclosure should go for $400K or less. Oh my!!!!
Can this cause others to walk, that is a possibility.
2500 sq ft Max.
Grrrrr... eat charts: scroll down on right wihtin window. to see pages. really good charts:
click here
We read today in the business review that "angry" banksters were going directly after developers for unpaid loans. About time....
Shiller says years....click here
Reverse mortgage pitfalls:click here I remember a few years back looking at a modest waterfront home in Stuart and looking up the record to learn the seller had a reverse mortgage for 400k. Which apparently he didnt know about.His son who was helping him, was amazed that the records are public and even more amazed that his father's loan of less than 20k was recorded as 400k. Front loaded loan no doubt with saprano interest rates.
Prime Time for foreclosures:
click here
Commerical RE Loans, the next shoe to drop: click here
Up Up and away
click here
Definition of "wild spending" click here
LP filed today 6/9/2009 on a tract home that just made the cut of 3500sq ft for McMansion at 3600
http://205.166.161.12/oncoreV2/showdetails.aspx?id=47892636&rn=2&pi=0&ref=search
Purchased 1/2007 for $901K
http://www.bcpa.net/RecInfo.asp?URL_Folio=514031021240
Imagine paying over $900K for a 3600 sq ft tract home. It must have gold fixtures in the kitchen and bathrooms. And, this was 1/2007when this was purchased, they did not get the memo on housing prices.
If this LP goes to auction it will have a devastating impact on the comps as this will be a member of the $.5 million loss club.
Lets look at properties on either of this LP.
Purchased: 11/2006 for $902K
Purchased: 1/2007 for $986K
3600 sq ft at foreclosure should go for $400K or less. Oh my!!!!
Can this cause others to walk, that is a possibility.
2500 sq ft Max.
Grrrrr... eat charts: scroll down on right wihtin window. to see pages. really good charts:
click here
We read today in the business review that "angry" banksters were going directly after developers for unpaid loans. About time....
Shiller says years....click here
Reverse mortgage pitfalls:click here I remember a few years back looking at a modest waterfront home in Stuart and looking up the record to learn the seller had a reverse mortgage for 400k. Which apparently he didnt know about.His son who was helping him, was amazed that the records are public and even more amazed that his father's loan of less than 20k was recorded as 400k. Front loaded loan no doubt with saprano interest rates.
Prime Time for foreclosures:
click here
Commerical RE Loans, the next shoe to drop: click here
Up Up and away
click here
Definition of "wild spending" click here
Monday, June 8, 2009
Motley
we arent big fans of motley fool but this snippet is worth the read;
click here note we did not sign up for anything. We agree, the worst is yet to come. In our snooping repeatedly we found the month of August 2010 as a magic number for recasts and resets. For whatever reason...... check your local mortgage broker for details as to why.
Credit card debt;click here this was mentioned to us months ago as being a bigger than ever story in the making. 11 percent nationwide: click here this could indeed be the wild card that our bankster client from NZ mentioned to us almost a year ago.
Speaking of appraisals: click here we hope the link works without having to subscribe to anything. If not google headline and click to it.
Biggest loser: (thanks for 2500 for this one ) A massive (> 5200 sq ft) tract home McMansion that just days ago was taken back by the bank.
http://www.bcpa.net/RecInfo.asp?URL_Folio=513925055020
Paid: $1,230,000.00 9/2006
This one has the potential to be a member of the $700K loss club as I suspect this will sell for no more than $400 - $500K.
$1.2 million for a tract home, does anyone doubt where this "investment" would end up.
More credit worthy fixed rate borrowers in trouble: click here
The coming economic collapse?click here this was predicted months ago at halfpasthuman.com. Im still not sure how I feel about the validity, hard to believe, but maybe not....
More drywall issues being tested: click here
click here note we did not sign up for anything. We agree, the worst is yet to come. In our snooping repeatedly we found the month of August 2010 as a magic number for recasts and resets. For whatever reason...... check your local mortgage broker for details as to why.
Credit card debt;click here this was mentioned to us months ago as being a bigger than ever story in the making. 11 percent nationwide: click here this could indeed be the wild card that our bankster client from NZ mentioned to us almost a year ago.
Speaking of appraisals: click here we hope the link works without having to subscribe to anything. If not google headline and click to it.
Biggest loser: (thanks for 2500 for this one ) A massive (> 5200 sq ft) tract home McMansion that just days ago was taken back by the bank.
http://www.bcpa.net/RecInfo.asp?URL_Folio=513925055020
Paid: $1,230,000.00 9/2006
This one has the potential to be a member of the $700K loss club as I suspect this will sell for no more than $400 - $500K.
$1.2 million for a tract home, does anyone doubt where this "investment" would end up.
More credit worthy fixed rate borrowers in trouble: click here
The coming economic collapse?click here this was predicted months ago at halfpasthuman.com. Im still not sure how I feel about the validity, hard to believe, but maybe not....
More drywall issues being tested: click here
Sunday, June 7, 2009
Waves
The waves of the housing collapse, we arent there yet;click here
and more to come: click here
Lull in foreclosures ?click here Broward county had 113 notices filed since June 1st, last we looked yesterday.
Developers in Tamarac:click here
Sun Belt the worst
click here
Good comments on shiller article:click here
and more to come: click here
Lull in foreclosures ?click here Broward county had 113 notices filed since June 1st, last we looked yesterday.
Developers in Tamarac:click here
Sun Belt the worst
click here
Good comments on shiller article:click here
Another Oeps Listing
click here
purchased for 1.5. we saw mortgages for 1.5 or 100 percent financed.
advertised as a short sale, er...wish price: of $868,788 complete with genuine vintage Harvest Gold Stove from the 70's !!click here
THe house on 28th street mentioned yesterday, has an LP filed against, we have no idea of listing status. Found it adverted on daily business review.
Upscale foreclosures: click here
SHiller speaks, why home prices may continue to fall: click here
Small is the new big:click here
Forbes luxury price index:click here
purchased for 1.5. we saw mortgages for 1.5 or 100 percent financed.
advertised as a short sale, er...wish price: of $868,788 complete with genuine vintage Harvest Gold Stove from the 70's !!click here
THe house on 28th street mentioned yesterday, has an LP filed against, we have no idea of listing status. Found it adverted on daily business review.
Upscale foreclosures: click here
SHiller speaks, why home prices may continue to fall: click here
Small is the new big:click here
Forbes luxury price index:click here
Saturday, June 6, 2009
weekend round up
radar logics price per sq ft. for 28 days for miami is 113.75. they change the graph next week. interesting, in our observation it appears to have gained but fallen overall from our last notation of 118.75.
Be sure and check out the dataquick link as they have the first quarter sales on a nice graph. nothing new there we didnt already know.
According to dailybusinessreview.com, 113 foreclosure actions have been filed since June 1. new filing 2021 N.E. 28th St. LHP;
purchase look at the price less than 300k !! JP Morgan filed on June 2. if we read the records correctly the mtg is for 519k, with a max payback of 646k. on a 300k purchase. previous LP filed in March.
we all know about jobs, but here is info showing demographics here in Florida:
click here
Another florida mortgage company in trouble: click here
Thanks to reader 2500 for this one;
Here is a VERY recent listing for a tract home McMansion that will be a member of the $.5 million loss club.
ON MLS: M1320367 as of 6/4/2009 asking $375K
Purchased: 11/2006 for $899K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513925043750
FJ for foreclosure filed 5/22/2009
http://205.166.161.12/oncoreV2/showdetails.aspx?id=47837455
Paid $899K for a tract home. Unbelievable!
Waterfront home raffle; we noticed in the Sentinel that a real estate sales person is trying to raffle off their home for 3mil. being the snoop we are, it appears,]
they paid 2,350,000 for the house in 05 and have two mtgs, one for 1.5 and another heloc for 300k. the paper says the house is appraised at 1.4, would that mean the seller/auctioner is underwater/??? taxes are a whopping 35k/year. wonder what the income tax ramifications are for the winner should they be successful in selling all the tickets?
home purchase here;click here
Be sure and check out the dataquick link as they have the first quarter sales on a nice graph. nothing new there we didnt already know.
According to dailybusinessreview.com, 113 foreclosure actions have been filed since June 1. new filing 2021 N.E. 28th St. LHP;
purchase look at the price less than 300k !! JP Morgan filed on June 2. if we read the records correctly the mtg is for 519k, with a max payback of 646k. on a 300k purchase. previous LP filed in March.
we all know about jobs, but here is info showing demographics here in Florida:
click here
Another florida mortgage company in trouble: click here
Thanks to reader 2500 for this one;
Here is a VERY recent listing for a tract home McMansion that will be a member of the $.5 million loss club.
ON MLS: M1320367 as of 6/4/2009 asking $375K
Purchased: 11/2006 for $899K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513925043750
FJ for foreclosure filed 5/22/2009
http://205.166.161.12/oncoreV2/showdetails.aspx?id=47837455
Paid $899K for a tract home. Unbelievable!
Waterfront home raffle; we noticed in the Sentinel that a real estate sales person is trying to raffle off their home for 3mil. being the snoop we are, it appears,]
they paid 2,350,000 for the house in 05 and have two mtgs, one for 1.5 and another heloc for 300k. the paper says the house is appraised at 1.4, would that mean the seller/auctioner is underwater/??? taxes are a whopping 35k/year. wonder what the income tax ramifications are for the winner should they be successful in selling all the tickets?
home purchase here;click here
Friday, June 5, 2009
hsbc faces round two
speaking of which our favourite bankster: now owns 464 properties according to the records, up from 447 last search, time and inventory marches on.
click here
click here
Here comes the tax man
for Broward county that is: click here
we are't surprised as this was mentioned months ago. with falling prices the only way to make up the difference is to raise rates, not decrease spending...
we are't surprised as this was mentioned months ago. with falling prices the only way to make up the difference is to raise rates, not decrease spending...
Bottom fishing
Bottom fishing: c;ick here
Only in south florida: click here
Mortgage rates jump: click here
Mortgage and seniors:click here
Luxury home mtg time bomb;click here
gimme me shelter:clickhere
Only in south florida: click here
Mortgage rates jump: click here
Mortgage and seniors:click here
Luxury home mtg time bomb;click here
gimme me shelter:clickhere
Thursday, June 4, 2009
another OEPS!
listing here; click here
purchased for $785k click here note; we found in reading the documents, (not verified) that there is a recast/reset in October 09, looks like libor plus 2.5, looks like he owes 628k.
purchased for $785k click here note; we found in reading the documents, (not verified) that there is a recast/reset in October 09, looks like libor plus 2.5, looks like he owes 628k.
Regions
bank escalating foreclosures:click here
HSBC risky:click here
speaking of which, they now own, 458 versus 445 last search. Time and inventory march on.
Mortgage rates jump, highest since December;
click here
Higher interest rates and.....click here
Real Estate happy horror stores; click here
HSBC risky:click here
speaking of which, they now own, 458 versus 445 last search. Time and inventory march on.
Mortgage rates jump, highest since December;
click here
Higher interest rates and.....click here
Real Estate happy horror stores; click here
Wednesday, June 3, 2009
Mortgage rates
applications fall, rates rise:click here
Our favorite bankster "deutsche" is now the proud owner of 1181 properties, we are predicting 2k by months end.
One million and counting:click here
Foreclosures as storm shelters:click here
The bigger they are; click here
Flip this house ..... maybe not.
2440 N.E. 44th Terrace.
price history:
Price Reduced: 08/20/08 -- $1,049,777 to $999,777
Price Reduced: 10/04/08 -- $999,777 to $974,777
Price Reduced: 10/24/08 -- $974,777 to $949,000
Price Reduced: 12/02/08 -- $949,000 to $899,000
Price Reduced: 01/05/09 -- $899,000 to $879,000
Price Reduced: 02/03/09 -- $879,000 to $849,000
Price Reduced: 02/10/09 -- $849,000 to $825,000
Price Reduced: 03/13/09 -- $825,000 to $799,000
Price Reduced: 03/20/09 -- $799,000 to $745,000
Price Reduced: 04/08/09 -- $745,000 to $715,000
Price Reduced: 04/17/09 -- $715,000 to $699,000
Price Reduced: 04/29/09 -- $699,000 to $675,000
Price Reduced: 05/13/09 -- $675,000 to $650,000
Price Reduced: 06/03/09 -- $650,000 to $625,000
On Site: 325 days
now adverted as short sale we did find a mtg for 500k in 2002. no doubt another mtg at time of purchase, we didnt go that far back. purchased
in 92 for 250k click here:
click here
listing here: click here
Our favorite bankster "deutsche" is now the proud owner of 1181 properties, we are predicting 2k by months end.
One million and counting:click here
Foreclosures as storm shelters:click here
The bigger they are; click here
Flip this house ..... maybe not.
2440 N.E. 44th Terrace.
price history:
Price Reduced: 08/20/08 -- $1,049,777 to $999,777
Price Reduced: 10/04/08 -- $999,777 to $974,777
Price Reduced: 10/24/08 -- $974,777 to $949,000
Price Reduced: 12/02/08 -- $949,000 to $899,000
Price Reduced: 01/05/09 -- $899,000 to $879,000
Price Reduced: 02/03/09 -- $879,000 to $849,000
Price Reduced: 02/10/09 -- $849,000 to $825,000
Price Reduced: 03/13/09 -- $825,000 to $799,000
Price Reduced: 03/20/09 -- $799,000 to $745,000
Price Reduced: 04/08/09 -- $745,000 to $715,000
Price Reduced: 04/17/09 -- $715,000 to $699,000
Price Reduced: 04/29/09 -- $699,000 to $675,000
Price Reduced: 05/13/09 -- $675,000 to $650,000
Price Reduced: 06/03/09 -- $650,000 to $625,000
On Site: 325 days
now adverted as short sale we did find a mtg for 500k in 2002. no doubt another mtg at time of purchase, we didnt go that far back. purchased
in 92 for 250k click here:
click here
listing here: click here
comments
we just read these comments re pending home sales, that appear to be all the hype.
we couldnt have said it better.
" think one of the confusing things about real estate and reports like this one is that "real estate markets are local in nature". Whereas the nationwide trends can give you an idea of where things are going every market is going to get there at a different pace. Clearly many markets across the US have already corrected whereas others have not.
This report gives buyers a good ratio to judge your local market: take your local average income and multiply it by 3 (rounded up from 2.8 to make it easy). This gives you the level where your local median home price SHOULD be in today's climate. I bet any local market that returns to this level starts to see a "normal" level of sales activity again.
The problem is, many markets have a long, long way to go.
In my little suburb the published median household income average is $150k and median house prices are still (even after a small drop already) hovering around $1.2M. Using this rule, one would expect the median price to come down to about $450k before prices start to stablize and sales return to normal. I think this is true for many of the high-end markets where The Ratio went into orbit many years ago. These will need to come down to earth before we have a sustainable market.
Besides the affordability ratios though there are other local factors like unemployment and where people are going to get that now-required 20% down payment.
The problem is that, especially on the high-end, the answer is "nowhere". America's piggy bank for the last two decades has been their houses and built-up equity based on extremely high appreciation. In other words, high-end house buyers typically "house flip their way to the top" by cashing in the money made in the previous house as a down payment on the new one.
High-end incomes are mature incomes--people that have been in the workforce for a long time and have achieved success. Unfortunately this also means they already own a house--and they are underwater.
In short, on the high-end, all of the required down payments have been wiped out. There is virtually no support for a high-end market any more."
we couldnt have said it better.
" think one of the confusing things about real estate and reports like this one is that "real estate markets are local in nature". Whereas the nationwide trends can give you an idea of where things are going every market is going to get there at a different pace. Clearly many markets across the US have already corrected whereas others have not.
This report gives buyers a good ratio to judge your local market: take your local average income and multiply it by 3 (rounded up from 2.8 to make it easy). This gives you the level where your local median home price SHOULD be in today's climate. I bet any local market that returns to this level starts to see a "normal" level of sales activity again.
The problem is, many markets have a long, long way to go.
In my little suburb the published median household income average is $150k and median house prices are still (even after a small drop already) hovering around $1.2M. Using this rule, one would expect the median price to come down to about $450k before prices start to stablize and sales return to normal. I think this is true for many of the high-end markets where The Ratio went into orbit many years ago. These will need to come down to earth before we have a sustainable market.
Besides the affordability ratios though there are other local factors like unemployment and where people are going to get that now-required 20% down payment.
The problem is that, especially on the high-end, the answer is "nowhere". America's piggy bank for the last two decades has been their houses and built-up equity based on extremely high appreciation. In other words, high-end house buyers typically "house flip their way to the top" by cashing in the money made in the previous house as a down payment on the new one.
High-end incomes are mature incomes--people that have been in the workforce for a long time and have achieved success. Unfortunately this also means they already own a house--and they are underwater.
In short, on the high-end, all of the required down payments have been wiped out. There is virtually no support for a high-end market any more."
Its global
click here
No end in sight: click here
Condo foreclosures top sellers:click here question: what happens when more foreclosures happen and the remaining residents have to take up the slack??? such is the same that goes on with reported
home owner associations.
Next question, is the chinese drywall an issue in condos?? if so why not?? spent a lot of time reading about it last night and from what i gleaned it reportedly goes back to 2000 as stated on some web sites dedicated to this issue.
Trouble bank loans at record:click here
Timing is everything...click here we like the part about the shadow inventory. As we mentioned here, there's a whole lot of inventory out there that may or may not be listed.
No end in sight: click here
Condo foreclosures top sellers:click here question: what happens when more foreclosures happen and the remaining residents have to take up the slack??? such is the same that goes on with reported
home owner associations.
Next question, is the chinese drywall an issue in condos?? if so why not?? spent a lot of time reading about it last night and from what i gleaned it reportedly goes back to 2000 as stated on some web sites dedicated to this issue.
Trouble bank loans at record:click here
Timing is everything...click here we like the part about the shadow inventory. As we mentioned here, there's a whole lot of inventory out there that may or may not be listed.
Tuesday, June 2, 2009
More local foreclosures
thanks for 2500 for this one:
Foreclosures and tract homes and McMansions Oh My!!!
Another million plus tract home McMansion LP filed today.
http://205.166.161.12/oncoreV2/showdetails.aspx?id=47864482
11/2006 paid $1,072,900
http://www.bcpa.net/RecInfo.asp?URL_Folio=514031022020
If this LP goes to bank owned foreclosure it will go for around $400K
Now look at the ajacent neighbors.
4/2007 paid $950K
10/2006 paid $985K
according to the records;
Deutsche bank picked up some more property over the last few days, today the record reads instead of 1172 its now 1183. Hsbc is now: 458 from 447. time is marching on, so is their inventory.
More drywall news:click here my thoughts, the cost of replacing drywall, airconditioning coils, who knows what plumbing, ducting, could add up to some real money. I think this could be more expensive than mold. I am also concerned with foreclosed properties, seeing that the fsbo appliance and jacuzzi business is in full
swing, plus there have been noted instances of revenge, like sabotaging plumbing etc.
I would have extreme caution coupled with the drywall could be a very expensive risk, in my opinion. Price would have to be more than right, for me to consider. Apparently condo vultures wants to swoop up these properties from what I read.
foreclosures take luster:
. click here and oh. I forgot, obcsene property taxes, high insurance,
the threat of hurricanes and underfunded citizens, and the water issue.
Foreclosures and tract homes and McMansions Oh My!!!
Another million plus tract home McMansion LP filed today.
http://205.166.161.12/oncoreV2/showdetails.aspx?id=47864482
11/2006 paid $1,072,900
http://www.bcpa.net/RecInfo.asp?URL_Folio=514031022020
If this LP goes to bank owned foreclosure it will go for around $400K
Now look at the ajacent neighbors.
4/2007 paid $950K
10/2006 paid $985K
according to the records;
Deutsche bank picked up some more property over the last few days, today the record reads instead of 1172 its now 1183. Hsbc is now: 458 from 447. time is marching on, so is their inventory.
More drywall news:click here my thoughts, the cost of replacing drywall, airconditioning coils, who knows what plumbing, ducting, could add up to some real money. I think this could be more expensive than mold. I am also concerned with foreclosed properties, seeing that the fsbo appliance and jacuzzi business is in full
swing, plus there have been noted instances of revenge, like sabotaging plumbing etc.
I would have extreme caution coupled with the drywall could be a very expensive risk, in my opinion. Price would have to be more than right, for me to consider. Apparently condo vultures wants to swoop up these properties from what I read.
foreclosures take luster:
. click here and oh. I forgot, obcsene property taxes, high insurance,
the threat of hurricanes and underfunded citizens, and the water issue.
Monday, June 1, 2009
foreclosures and hurricanes and rents !!
click here 280,000 in march??
credit worthy borrowers over the edge?click here
Rent rant....
speaking of rents; realtor.com has a nice search for rentals and they also list how long a certain property has been on the rental market. Just for curiousity sake I looked at LHP, waterfront etc. big numbers for small homes, no doubt results of mortgage/debt ratios. More than one was asking 5k a month and listed for over a year.
Why bother??
speaking of debt: why mortages wont make rich. so much for leverage.
click here
Housing, recovering or not..
click here
according to daily business review. another filing for : click here>
Date: 5/29/2009
Search Match: 31%
NOTICE OF ACTION
IN THE CIRCUIT COURT OF THE 17TH JUDICIAL CIRCUIT IN AND FOR BROWARD COUNTY, FLORIDA
CASE NO.: 08-39558-12
JUDGE WEINSTEIN
ACCREDITED SURETY & CASUALTY COMPANY, a Florida corporation,
Plaintiff,
vs.
JEAN GAGNON and A & M REAL ESTATE INVESTORS, INC., a Florida corporation, and ALLAN COHARA,
Defendants.
TO: JEAN GAGNON
YOU ARE NOTIFIED that an action to foreclose a mortgage on the following property in Broward County, Florida:
Lot 10, Block 20, HILLSBOROUGH ISLES, according to the Plat thereof, as recorded in Plat Book 29, Page 4, of the Public Records of Broward County, Florida.
prime time for: click here
credit worthy borrowers over the edge?click here
Rent rant....
speaking of rents; realtor.com has a nice search for rentals and they also list how long a certain property has been on the rental market. Just for curiousity sake I looked at LHP, waterfront etc. big numbers for small homes, no doubt results of mortgage/debt ratios. More than one was asking 5k a month and listed for over a year.
Why bother??
speaking of debt: why mortages wont make rich. so much for leverage.
click here
Housing, recovering or not..
click here
according to daily business review. another filing for : click here>
Date: 5/29/2009
Search Match: 31%
NOTICE OF ACTION
IN THE CIRCUIT COURT OF THE 17TH JUDICIAL CIRCUIT IN AND FOR BROWARD COUNTY, FLORIDA
CASE NO.: 08-39558-12
JUDGE WEINSTEIN
ACCREDITED SURETY & CASUALTY COMPANY, a Florida corporation,
Plaintiff,
vs.
JEAN GAGNON and A & M REAL ESTATE INVESTORS, INC., a Florida corporation, and ALLAN COHARA,
Defendants.
TO: JEAN GAGNON
YOU ARE NOTIFIED that an action to foreclose a mortgage on the following property in Broward County, Florida:
Lot 10, Block 20, HILLSBOROUGH ISLES, according to the Plat thereof, as recorded in Plat Book 29, Page 4, of the Public Records of Broward County, Florida.
prime time for: click here
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