Comments on: More Recon

By: Jinx

Jinx — Wed, 25 Nov 2009 02:14:51 +0000

I agree. The parts of Oceanside priced at 200k and under are priced that low for a reason…Good maybe if you’re planning to rent or flip, but not so great for living.

By: osidebuyer

osidebuyer — Wed, 25 Nov 2009 00:02:25 +0000

@ Homer Simpson (comment #3)

That’s not a great deal. I looked around that area and it is a sketchy, run down ‘hood around there between Mission and the 76, east of 5, west of Canyon. My realtor steered me away.

@ $200/sq.ft. it’s definitely not ‘too good to be true’

By: Jim the Realtor

Jim the Realtor — Tue, 24 Nov 2009 12:41:22 +0000

“reconnaissance” looking for “intel”.

By: IRE

IRE — Tue, 24 Nov 2009 05:27:46 +0000

Jim, are you using Recon to stand for “reconnaissance” or ReconTrust?

By: dacounselor

dacounselor — Tue, 24 Nov 2009 02:31:05 +0000

Great segment. The street in CV with the (what once were) million dollar homes sure does seem like it’s going to be the scene of an all-out battle to clear inventory. Let the games begin.

Nice contrast between CV and the more established (read “older”) Encinitas neighborhood with much less action. Are the more established neighborhoods seeing less devaluation due to fewer transactions? And what will ultimately become of these neighborhoods’ values after the newer tracts are through beating each other down?

By: KeepItInflated

KeepItInflated — Tue, 24 Nov 2009 02:19:19 +0000

1MM loan and financial distress how could that be. We know a lot of people moved to San Diego from NY and LA, but for the most part $1MM takes a $250,000 plus a year income just to make minimum payments and not put anything away for savings.

If you look into Wells financial reports they still have about $95B of Option Arms and they may have exhausted the fair value accounting benefits from the merger with Wachovia. Those record profits at Wells might be followed by out of business in 2010.

By: elite investor

elite investor — Tue, 24 Nov 2009 02:10:00 +0000

usda loans for 0 down:

http://www.cnbc.com/id/34067149

By: UCGal

UCGal — Tue, 24 Nov 2009 00:54:04 +0000

Some quick googling on the Soledad Ave property. Not a good buy, IMO. There’s a LIS PENDENS listed on it – which if the google is to be believed – means the property is in dispute, legally.

Nice home site – but what a mess for all involved.

By: UCGal

UCGal — Tue, 24 Nov 2009 00:33:30 +0000

The first one in La Jolla breaks my heart. I’m probably projecting our own horrid contractor experience – but I have a strong suspician that some contractor has a whole lot of that $2 Million in his pocket… before he likely abandoned the job when they balked at giving him even more money given the lack of progress. I’d also suspect that there are some liens from unpaid subs on that property.

You could argue that the homeowners should have borrowed so much – but if the contractor pocketed 2 million and only provided a few hundred thousand of improvements – it’s not the homeowners at fault.

Like I said – I’m probably projecting my own issues since I lived through having a contractor shake us down for money so far in advance of work it was ridiculous then abandon the job when we refused. We’re suing, but we’ll never collect. These folks probably didn’t have the money to make up the shortfall of what the contractor absconded with.

By: red herring

red herring — Mon, 23 Nov 2009 20:37:21 +0000

Arent they giving away homes in detroit?They are more of a liabilty to people.Thank the unions for running GM into the ground.They are doing the same thing to the sate of ca.