That’s the plan anon. The things I want to see are how much off of list are things selling for and the price per square as it relates to what can be discerned about the condition of the home based off MLS description and pics.
Will add to the data as it comes in… Still trying to teach myself how to do stuff in FrontPage.
thanks for the totally rude response to my post. i wasnt trying to call you out but simply mentioning i thought your numbers were optimistic. if you check back, you mentioned a "conventional 30-yr 5.5%" loan. by that i assumed 30-yr fixed and that’s what i used. but now you’re saying you meant interest-only. ok fine… and btw, i do believe principal pymts are a housing expense even though it’s going back into your home. if you forget to contribute to your IRA, they don’t take your retirement account away. but thats just my opinion.
anyways, if i assumed the wrong loan type, then you can correct me. if i assumed mello roos and there is none, then you can correct me. if you disagree with my back of the envelope calc by $200, by all means, feel free to correct me. at the end of the day, we’re just two people discussing hypothetical transactions on the internet. you can keep the other comments to yourself though, despite the fact this is "your thread."
Anyone interested in 14 Carlysle should not offer anything more than 500K. The property was bought at the peak in ‘05 for 750K, the flipper spent supposedly "100K" to turn this 70’s POS into a mandatory "meditarrenean" look, by adding "stone facade" and "ballasters" to the walkway. Now it looks like a POS, that will require some demolition work. I would figure on adding 100K to making the place look decent again. I don’t know how this flipper was able to pawn it off in "06 for 850K. Must be another case of fraud.
I have no problems with people being optimistic about their houses but I do want to correct the notion that people on IHB are "anti-houses." I believe that most everyone on this board believe that buying a home is a good thing in a normal environment. Unfortunately, this is not a normal environment.
If you find a house that you want to live in for the next 7 to 10 years, have the downpayment, can get a good loan, and do not care about whether your house appreciates in value, then please by all means, buy the place. However, if you do not have all of these criteria, think hard.
Sorry singlemom, I’m not super techy. If some of our more knowledgeable board brethren have suggestions on how I can save those files to make them more universally accessible, I will endeavor to change it up. I have been saving as web archives, .mht format, and I think Windows machines default to using IE for open those file types.
WINEX, thanks for the suggestion but you give me too much credit. My brain at this time is not capable of following multi-step installation instructions. Why do you think I’m bubble-blog surfing instead of studying for my upcoming certification exam?
I’m going to be interested to see the final sale price on this Tustin Field townhouse, which appears to have gone into escrow today. http://www.redfin.com/stingray/do/printable-listing?listing-id=1210130
I was watching this one to see how long it lasted once it hit the $300 sq ft mark. IIRC, this was at $465k for about a month before hitting escrow. This was the closest to rent equivalent I have seen for a while.
The price is probably so low, because one on Flyers lane went back to the bank last week. Another one on Flyers is scheduled for the auction next month, as well as one on Liberty. And, IIRC, there was at least one or two others in that complex that have already gone back to the bank.
Two more properties going into escrow… Sure seems like buying activity has picked up. I used to see one escrow start per week, not it’s one per day. www.ipoplaya.com
Unfortunately 123, I don’t really know which ones are foreclosures. Some are obvious, but some might not be… I don’t have access to that data.
If there is something 2000+ sf in QH or Woodbury that goes into esrow, I will pick it up. There haven’t been any since I started. My search is all of Irvine and Tustin.
Can you pick up escrows for new homes, our can you only see the “re-sale” homes that are in escrow? I’d really like to see some specifics on how the builders are doing as they try to finish up phase X,Y, or Z of various developments.
I don’t think anyone can see builder escrows… I’m just using regular ole tools like redfin, homeseekers, etc. that are available to everyone. Builders like to keep their stuff a big mystery.
Cities with highest % of distressed:
• Santa Ana 1,523 748 49%
• Anaheim 1,235 589 48%
• Lake Forest 359 162 45%
Cities with lowest % of distressed:
• Seal Beach 172 2 1%
• Laguna Woods 380 5 1%
• Newport Coast 146 2 1%
Since I haven’t lived through a CA downturn like this, I am curious about Graphix, IR, etc’s reactions to this. In particular:
a. is the worst over for the the homes under $500K, and between 500K and 750k?
b. I think we can probably all agree that distressed properties numbers are likely to increase for the one million plus range from t his point on. My question is how bad it will get.
I am sure we all have “opinions” on this questions. What I am looking for are “data” based reaction to this - for example if history repeats itself, how bad will it get and take how long?
