Some of what I get to live with during a regular day:
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
- klingerealty@gmail.com
CA DRE #01527365, CA DRE #00873197
7.Just saw your video with the other REO you had in CV for $599k. What do you mean it goes to Non-profits? What would a Non-profit need with a house in CV? Something’s fishy and it isn’t fish I smell.
Most banks are doing it that way:
“Non-profits” (allegedly) and government-related entities get the first crack to purchase REOs, then owner-occupants, then investors.
It’s America. Now.
Welcome to America!
What would a non-profit do with a SFH? Rehab? Assisted living?
On Thursday our office was told that this property had been selected as a “Property of Interest” by the National Community Stabilization Trust or one of it’s buyers under the NSP program. We were told that the buyer would be contacting Jim to set up an appointment for inspection.
Here is a link to the organization.
http://www.stabilizationtrust.com/about
Wikipedia says that NCSF is meant to help low to moderate income families have access to affordable rentals or buying of homes in distressed neighborhoods. Uh-huh.
Sounds like they should be called National Shakedown Trust and that the would-be-buyer behind this stall is one of the group’s local officials and/or one of the “community based organizations” that they work with.
The wiki link is very interesting, especially the part about how the group’s president -Craig Nickerson- was Vice President of Expanding Markets for Freddie from 1997-2008.
This should prove very interesting if you find out who the final buyer turns out to be. http://en.wikipedia.org/wiki/National_Community_Stabilization_Trust
Also, from wifey’s link, if you zoom in on their own map of areas they are working in, they’re nowhere near NSDCC.
http://www.stabilizationtrust.com/local_work/where_we_work/
Oh geez, I just threw my comment into moderation by including two links. Sorry, I forgot that would happen. 😳
Insider trading by insiders.
More wow, just wow.
Why wasn’t the 56 built with 3 lanes in both directions?
I want to see the traffic at 5:45 not 4:45.
The National Community Stabilization Trust is a national nonprofit organization working with the nation’s largest financial institutions and local housing providers across the U.S. to reclaim neighborhoods hard hit by high levels of foreclosure and abandonment.
Yeah, that certainly describes Carmel Valley. [/snark]
p.s.: Greetings, “wifey”! 🙂
This smells like start of a scam
There are a couple of other examples of your taxpayer dollars at work too.
1. We all remember the million-dollar TERI house in Bressi Ranch, bought with $795,000 from the City of Carlsbad to house a handful of disabled adults.
2. There is one on the table currently with the Carlsbad city council to blow another $1,000,000+ to purchase a medical condo on CV Drive across from city hall. They want to set up a shop for welfare recipients, and use taxpayer money to fund it.
I have no problem with the city/state/fed gov helping disabled/welfare folks. In fact, I am all for it.
But why do they need such swanky upscale real estate?
It’s because the brokers are pushing it as the only alternative.
I was asked to find other options for the welfare office, and within minutes provided two solid choices off the MLS around the downtown Carlsbad area, priced at $650,000 and $795,000.
@JtR
Hey…Carlsbad is great, remember!?
Received that NSP e-mail several times Jim, never had one go though. You’ll probably get a follow up e-mail in a week or two saying it’s been released and then another week before you get a listing contract.
Jim,
What is the address of this property?
I seriously doubt that it will go NSP…that would really something to put on the evening news! Let us know what happens with this place.
I’m pretty sure this is the house.
http://www.redfin.com/CA/San-Diego/13595-Lavender-Way-92130/home/7525833
SDLookup said that there are fees of ~100/mo and if Redfin is right, then the taxes are just a hair under $10k/year. What low or moderate income family can afford ~900/mo just for taxes and fees before you even get to the mortgage? WTF?