From sddt.com: San Diego County seems to be in the best shape in California and in better shape than most around the United States when it comes to recovering from the recession in terms of residential construction. Jonathan Smoke, executive director of research for...
Month: July 2011
La Brisa REO
Before the Crosby and Cielo were built, the end of the road was Rancho Del Rio. P.S. In these parts, people seem to ignore the power lines.
Candyland Closed for $85,000,000
Excerpts from the www.latimes.com article: The biggest home in Los Angeles County is ready for a new nickname: The 56,500-square-foot Manor, dubbed Candyland after owner Candy Spelling, has been sold to another wealthy socialite, British heiress Petra Ecclestone, in...
Carmel Valley REO Ignored
There have been 224 Carmel Valley houses that have closed escrow year-to-date (avg. $335/sf). There have been 18 SFRs foreclosed YTD in 92130, with very little, if any, influence on the market:
What a Name
Hat tip to Kelly Bennett, who has been following this swindler's story - another going to jail! James McConville, the man at the center of our 2009 investigation into a massive real estate scam in San Diego County, is expected to appear in court next week and plead...
Old-Spanish Fixer
A guy who probably just wanted to get a little something for himself, finds out that seeing a project through to the end can be a bigger challenge than it appears: If this might be your cup of tea and want more details, here are other clips that didn't make the first...
Non-GSE Mortgages = 2%?
Hat tip to JD for shipping this wsj.com article: After years as the lending market's undesirables, aspiring home buyers with less-than-stellar credit are being offered home loans again—with some of the same conditions and catches critics say tripped up subprime...
SD vs. NSDCC
SAN DIEGO -- Home sales in San Diego County dropped 11.4 percent in June, compared to the same month a year ago, while prices dipped by 1.6 percent, a real estate information service announced Tuesday. A total of 3,444 homes changed hands locally last month, compared...
Beach-Close REO
Here's the first REO assignment in a couple of months, but I'm not expecting more than a trickle from now on. But at least we can call this a premium location:
Farkas Gets 30 Years
Let's mention the only real perp walk so far - hat tip to AL for sending this latimes.com article: ALEXANDRIA, Va. — An executive convicted of orchestrating a nearly $3-billion fraud as chairman of one of the largest mortgage companies in the U.S. was sentenced...