We have known Jim & Donna Klinge for over a dozen years, having met them in Carlsbad where our children went to the same school. As long time North County residents, it was a no- brainer for us to have the Klinges be our eyes and ears for San Diego real estate in general and North County in particular. As my military career caused our family to move all over the country and overseas to Asia, Europe and the Pacific, we trusted Jim and Donna to help keep our house in Carlsbad rented with reliable and respectful tenants for over 10 years.
Naturally, when the time came to sell our beloved Carlsbad home to pursue a rural lifestyle in retirement out of California, we could think of no better team to represent us than Jim and Donna. They immediately went to work to update our house built in 2004 to current-day standards and trends — in 2 short months they transformed it into a literal modern-day masterpiece. We trusted their judgement implicitly and followed 100% of their recommended changes. When our house finally came on the market, there was a blizzard of serious interest, we had multiple offers by the third day and it sold in just 5 days after a frenzied bidding war for 20% above our asking price! The investment we made in upgrades recommended by Jim and Donna yielded a 4-fold return, in the process setting a new high water mark for a house sold in our community.
In our view, there are no better real estate professionals in all of San Diego than Jim and Donna Klinge. Buying or selling, you must run and beg Jim and Donna Klinge to represent you! Our family will never forget Jim, Donna, and their whole team at Compass — we are forever grateful to them.
From the linked story:
The couple called their new residence “God’s house” because, as Keith Ritter put it, “that’s the only way we could have been approved for a loan.”
LOL, classic.
“people who haven’t paid for five years!”
-snark summary on-
“According to federal prosecutors and court records, Ritter bought real estate and then put the properties in the names of family members. When he fell behind on mortgage payments, he filed for bankruptcy protection in his relatives’ names in various jurisdictions to stop foreclosure proceedings. Then he tried to get the bankruptcy filings dismissed without telling the mortgage lenders. He pleaded guilty in 2000 to bankruptcy fraud and was sentenced to 15 months in federal prison in Petersburg, Va., where he wrote the first of three books about his deepening faith, “Life From the Inside.””
That was 12 years ago. Less than 5 years later –
“By the time his probation ended in 2004, the housing boom was underway.”
Buying, flipping, driving matching benz sedans, international travel ensues.
now …
“It was never our intention to get here and never make a mortgage payment,” Keith Ritter said. “We don’t believe in living for free.”
-snark summary off-
signed – BS
For the borrowers, I think the triage phase of the crisis is ending. A lot of the fatal cases have made their way through the system. There is forbearance and refinance help for the folks that were unemployed temporarily and/or are underwater. The banks, GSE’s and the government are down to figuring out how to deal with the moderately to severely wounded that possibly would survive if treated. Starting the foreclosure process helps with making these decisions.
Repeat foreclosures are on the rise. The can that was kicked down the road is once again approaching our feet again. Should we kick it again or step on it and crush it ?
http://feedproxy.google.com/~r/Housingwire/~3/zsSgGbVlLjk/repeat-foreclosures-hit-all-time-high-january
Not saying there is a Tsunami coming. Not saying there won’t be a Spring bounce, but there is some downward pressure out there.
The severely wounded should have been taken off life support sooner to save time and money.
What do you mean by “downward pressure”?
More foreclosures = more sales = better comps = stable to rising prices.
The media has us brain-washed to think more foreclosures means lower prices. Don’t assume anything.
The market determines price and the market has spoken. There are multiple buyers for correctly priced properties in almost every market. Inventory is dropping dramatically everywhere that was oversupplied. Interest rates are low, affordability is high. You could triple the number of fopreclosures in the strongest markets and absorb every one of them at current or higher prices.
THANK YOU AI !!!!!!!!!!!!!!!!!