This weekend’s featured property has one of the worst descriptions on the MLS.
Irvine Home Address … 20 VILLAGER, Irvine, CA 92602
Resale Home Price …… $899,900
(Go West) Life is peaceful there
(Go West) In the open air
(Go West) Where the skies are blue
(Go West) This is what we’re gonna do
(Go West, this is what we’re gonna do, Go West)
Go West — The Village People
I received the following email from a reader this week:
“My name is [New Customer] and I am looking to buy a house. I’m a
long time reader of the Irvine Housing Blog and in that time have
become an admirer of Larry Roberts for his candid analysis and opinions
of the Irvine housing market. I have witnessed the IHB go from a small
blog to a full fledged real estate business and I am interested in
working with you to purchase a house of my own. My wife and I are
currently working on getting a pre-approval on a mortgage loan but
wanted to start looking into real estate agents. We are first time
home buyers so we are very new to this process. We’re hoping to find
someone who’ll look out for our best interests and guide us through the
whole real estate process. At your convenience please contact me and
let me know what our next step should be.”
We started Ideal Home Brokers to help people like this reader. When I receive emails like this one, it pleases me to be of service. Thank you.
Shevy Akason had a great 2009 recording 20 closed sales and 20 lease transactions. Several deals were IHB clients toward the end of the year. I am very impressed with the service he is providing IHB clients, and we are all looking forward to a successful 2010.
Congratulations IHB Readers!
During a slow December, the RSS Feed surpassed 3,000 subscribers.
I note an astuteness to the observations lately. I enjoy the conversation, and like checking email a few times a day, I plan to continue participating regularly. I am posting more news stories of late, and I like the format because it keeps us current on housing market news and developments. When new information becomes available, the collective wisdom of the IHB community of astute observers provide context for news in the larger narrative.
We don’t gather to be bearish; we gather to see the facts and anticipate future conditions that may impact the housing market. I believe many make better buying decisions when they have facts and a realistic set of future expectations. Everyone who contributes here adds to the wisdom of the IHB community and serves as a check and balance to the accuracy of my message.
IHB Trustee Sale Services
Ideal Home Brokers has established a relationship with an experienced trustee sale buyer. We are opening an interest list for those who want help (1) researching properties and (2) attending property auctions. We are not ready for primetime, but several potential all-cash buyers have expressed interest in this service, and we are testing demand prior to launch. If you are interested in this service, please email us at firstname.lastname@example.org and reference “IHB Trustee Sale Services.” We will get back to you as soon as possible.
Housing Bubble News from Patrick.net
Low rates didn’t cause bubble, Bernanke says (marketwatch.com)
Taylor Disputes Bernanke on Bubble, Blaming Fed’s Low Rates (bloomberg.com)
Mortgage Demand Near 6-Month Low as Rates Jump (cnbc.com)
Pending House Sales Fall After Months of Gains (nytimes.com)
A year into Obama’s reign, Ron Paul’s loopy ideas now making sense (latimesblogs.latimes.com)
Bernanke Speech on Monetary Policy and the Housing Bubble (federalreserve.gov)
If the Fed Missed That Bubble, How Will It See a New One? (nytimes.com)
Principal Cuts on Lender Menus as Foreclosures Rise (bloomberg.com)
Apartment Vacancy Rate Highest on Record, Rents Plunge (calculatedriskblog.com)
U.S. Now a Renters’ Market (online.wsj.com)
Landlords lowering apt rents in Las Vegas (lvrj.com)
Manhattan Apartment Prices Fall as Finance Jobs Lost (bloomberg.com)
Real Estate in Cape Coral, FL, Is Far From Recovery (nytimes.com)
Foreclosures add honesty to house appraisals (sfgate.com)
Stockton, CA is Foreclosureville, USA (thecalifornian.com)
A $905,000 Foreclosure that Lasted 18 Months. Now Listed for $699,000. (doctorhousingbubble.com)
South Florida foreclosures up 29% (miamiherald.com)
Foreclosure Leading To… Happiness! (patrick.net)
SF Bay Area retail centers mired in foreclosures (contracostatimes.com)
Men Happy to Be Free From Owning Houses (nytimes.com)
Housing Market in 2010: The Idiocy Continues (seekingalpha.com)
Walk Away From Your Mortgage! (nytimes.com)
Homebuyer Tax Credits Exceptionally Inefficient (bloomberg.com)
Fed May Extend Crap Mortgage Purchases With Counterfeit Money (housingwire.com)
5 centuries of bubbles and bursts – 1634-38: Tulips (money.cnn.com)
3 Housing “Truisms” That Make No Sense (fool.com)
Japan dealing with bubble aftermath (already old but good) (nytimes.com)
Living In A Real Housing Bubble (nytimes.com)
One Million is the new Two Million (calculatedriskblog.com)
Twenty years on, Japan is still paying its housing bubble bills (economist.com)
It’s Always the End of the World as We Know It (nytimes.com)
Irvine Home Address … 20 VILLAGER, Irvine, CA 92602
Resale Home Price … $899,900
Income Requirement ……. $192,102
Downpayment Needed … $179,980
20% Down Conventional
Home Purchase Price … $1,148,000
Home Purchase Date …. 3/28/2005
Net Gain (Loss) ………. $(302,094)
Percent Change ………. -21.6%
Annual Appreciation … -4.8%
Mortgage Interest Rate ………. 5.27%
Monthly Mortgage Payment … $3,984
Monthly Cash Outlays ………… $5,190
Monthly Cost of Ownership … $3,870
Baths 4 baths
Size 3,537 sq ft
($254 / sq ft)
Lot Size 4,057 sq ft
Year Built 2002
Days on Market 5
Listing Updated 1/5/2010
MLS Number P716076
Property Type Single Family, Residential
According to the listing agent, this listing may be a pre-foreclosure or short sale.
Attention Investors!!! Attention Buyers!!! Looking to Start 2010 with a Bang? Want the Deal of the Year? Nestled in Irvine s Prestigious Northpark Square & Priced to Steal, this HANDSOME Residence boasts STUNNING CURB APPEAL & LUXURIOUS Comforts that Surpass Every Home in this Price Range! Spacious Open floor plan offers 5 Bedrooms & 4 Baths w/2-Car Garage in approx. 3,537 sq.ft. Inviting Living Room & Elegant Dining Room is perfect for Entertaining. Gourmet Kitchen w/Granite Counters & Chef s Island opens to generous Family Room & Breakfast Nook. Spacious Master Suite w/Huge Walk-in Closet plus Large Secondary Bedrooms offers Abundant Closet Space! Wait till you see the HUGE Bonus Room. Near Shopping, Dining, Entertainment & Schools including community Pool, Spa, BBQ s, Sports Courts, Outdoor Amphitheater, Parks, Walking Trails, Bike Trails, Tot Lots & More! Make No Mistake This Home Will Not Last, So ACT FAST! Only ONE like this!!!
That description contains every butchery of English I have come to despise in realtor listings. I knew it was in trouble with the cheesy “Attention” opening with three exclamation points. The only way it could have been worse is if it said “L@@K!!!” The author mixed in INTERMITTENT caps LOCK, Random capitalization, two of my favorite cliches, and the closing is a laughable attempt to create urgency. If I ever write a book on how not to write a description, I could feature this one.