Good song, BTW.

That doesn’t necessarily mean that things are OK. There are properties along Neptune that have seawalls in place, but they still have severe bluff problems. And there are other sites that have no seawalls, but they will never need them, due to rocky, stable slopes. Nobody should ever buy an oceanfront home, (especially on Neptune), without getting their own engineer’s report done.

http://s0.ilike.com/play#Propellerheads:Take+California:72568:s178047.15504.1871127.1.1.50%2Cstd_0bc9ee3e7d5104b21ac38ade2733aa05

Here’s wishing 2010 will be the year that clears out the housing market and things begin to approach normal. IMHO, it will depend on interest rates. If they stay low, it might happen. If they climb, the market might freeze again. We’ve been many years with rates that are unusually low from the longer perspective. There might be an adjustment period if they go back to historical norms.

And there’s no surprise here that a small group of flippers are buying up the small amount of decent stock. It will continue to be that way for some time to come. If the market was flooded with all the inventory out there the question would be more interesting in that, would the flippers still be able to make money. Given the trickle, no problem at all for a smart flipper.

So much for inventory coming.

http://www.businessinsider.com/heres-the-secret-justification-for-lifting-the-bailout-caps-on-fannie-and-freddie-2009-12

I will tactfully dodge those questions and refer you to your agent, but agreed – those are questions that deserve answers. According to the listing it has permitted upper and lower seawalls.