bubbleinfo.com

This youtube video shines the spotlight on Carlsbad’s La Costa Oaks development, one of the four villages subdivided by Morrow Development (La Costa Valley, La Costa Greens, and La Costa Ridge are the others). As with other tracts sold at the peak, there is plenty of noise in the data, challenging buyers to make sense of it.

Southeast Carlsbad’s 92009 zip code is physically about the same size as Carmel Valley’s 92130; 20.2 sq. mi. to 19.7 sq. miles. But 92009 has about 66% more homes than CV, so the foreclosure stats showing them having twice as many NODs and NOTs isn’t that drastic (the stats in video says “Carlsbad”, but they are just the 92009 foreclosure numbers):

This is a decent business opportunity for the right people, for just $695,000:

This will be extremely boring for most viewers, especially those who hate salespeople. If it gets deleted, you’ll know why:

The August foreclosure stats, plus examples of houses that went back-to-bene last week:

One of our long-time contributors, Kingside, is featured prominently in this video.  The 1br link.

An example of a buyer who took a lowball shot at a listing that had some tell-tale signs:

1.  A number of other active listings nearby that weren’t selling,

2.  Out-of-town REO listing agent,

3.  A World Savings/Wachovia/Wells Fargo original loan amount of $687,000,

4. A newer tract house that was unattractive enough that it probably wasn’t getting any offers.

For those looking for ‘deals’ in the 92130, there are houses that have been purchased recently that have closed for less than $300/sf.  What do you get?