I love the list date – December 25th:
Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!
I love the list date – December 25th:
For properties on Neptune, the most important factor is the site. Many homes have had severe erosion problems and bluff failures that can render a property almost worthless.
How is the slope on this property? Is there an engineering report? Any previous bluff problems? It looks like the slope is partially unplanted, which is a bad sign.
Why don’t the banks hire the flippers?
Hello Walter,
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.
Obama’s Christmas Eve Surprise: unlimited indefinite bailouts for Fannie and Freddie likely means deadbeats get principal reductions at taxpayer expense, and GSEs will buy all the mortgages as the Dirty Fed winds down its purchases.
So much for inventory coming.
http://www.businessinsider.com/heres-the-secret-justification-for-lifting-the-bailout-caps-on-fannie-and-freddie-2009-12
Keeping home “values” high. That’s what it’s all about.
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.
Nice place! BTW, what’s that music you play at the beginning?
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.
Propellerheads:
http://s0.ilike.com/play#Propellerheads:Take+California:72568:s178047.15504.1871127.1.1.50%2Cstd_0bc9ee3e7d5104b21ac38ade2733aa05
Jim where can you find up to date info on trustee sale dates and houses involved for the San Diego Area?
“According to the listing it has permitted upper and lower seawalls.”
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.
Jim, be careful when including music in your videos even if it’s off a third source like the car radio. YouTube and/or the record labels have software that can identify copyrighted music and flag the videos. It doesn’t mean the video will be automatically removed, but the rights owners can ask at a later date that the video be removed.
The policy for most music labels seems to now be to leave the video up, but to put two ads to buy the song as a digital file and as a ring tone, with the label getting all/most of the profits from such. This is done automatically, and may require a clip longer than x seconds or with minimal background noise-and Jim’s clip here didn’t trip the auto-detect system-probably wasn’t long enough.
Good song, BTW.