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Friday, October 31st, 2008 at 12:36 AM

Olde Carlsbad REO Tour

Posted on Friday, October 31st, 2008 at 12:36 AM in Uncategorized | 7 Comments » | Print Print You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Reader Comments: 7 Responses

  1. JUst love the sound when you open up the silver ghost on an open road.

    Anyway, by definition there have to be as many crazies on the way down as on the way up. These buyers have got to be the same ones who in 2004 weren’t paying these exact same prices because they were too expensive in a rising market. Now they are paying the same price for a product with 4 years of bad neglect in a falling market. Trick or treat?

    Rob Dawg | October 31st, 2008 at 8:20 am

  2. The house on Celinda was stripped of all the appliances (dishwasher, wall oven, cooktop, built-in microwave) by the departing “owners”. It had been 100% financed, and they had multiple families in there trying to afford it. There were even some people sleeping in the garage.

    They also dug away the hill in the backyard (slopes up) to apparently put in a retaining wall, and increase the size of the yard. However, they walked away before that wall was completed, so the new owner better “git R done” before it rains!

    CB Mark | October 31st, 2008 at 8:57 am

  3. Jim,

    Your comments about the house that sold for 90k over list made me realize something. There seems to be an “eBay effect” going on with the foreclosure market – just because a home is a foreclosure, bidders think it’s a deal. Then they get emotionally locked in to winning the bidding war, and all of a sudden they’re paying 90k over list, still thinking they got a deal. Only later will they realize what happened, and will kick themselves daily.

    Bidders need to set a maximum price that they’re comfortable with beforehand, then stop at that price no matter where bidding goes from there. That’s the only way to avoid these kinds of mistakes, in any kind of auction or bid-war environment. Also, do some research and make sure your max price is still a good deal.

    Kwaping | October 31st, 2008 at 9:51 am

  4. A fool and his money are soon to part.

    Anonymous | October 31st, 2008 at 9:51 am

  5. Hey, at this price range (500-600K) its buy one, get one free out here in Vista!! Same payment/debt as one below average home in Carlsbad. If you are looking at rental investments you can cash flow…head East. I wouldn’t live in any of these CBad fixers for 500-600k.

    doughboy | October 31st, 2008 at 11:31 am

  6. Wait another 2-3 years, they’ll be going for 100K less than they are now. Buyers who get involved in bidding wars are suckers.

    JAP | October 31st, 2008 at 5:17 pm

  7. Man, I hope the CPD isn’t checking YouTube, guy: there you are, taking a video, flipping papers to check your facts–all while driving! ;-)

    shoppingaround | November 1st, 2008 at 4:44 am

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