Sunday, May 18, 2008 at 01:46PM
More From the REO Trail
Posted on Sunday, May 18, 2008 at 01:46PM
by
Jim the Realtor
in REO Inventory, REOs Coming to Market
|
17 Comments


Reader Comments (17)
Truly unattractive curb appeal. The placement of the accessory garage unit is weird, too. Very awkward. With two acres, there's no excuse for a strange layout like that, IMHO.
Do they still not have sewer service out there? Or a major grocery store?
BTW, don't let the cops see your videos, Jim...those rolling stops don't slow down very much! LOL!! :)
That house was so ugly I had to close my eyes while the video was playing. Please Jim, for God's sake, please don't subject me to that kind of horror again. :)
It's hard to understand, the other ones looked nice.
Agreed, it is hard to understand because all the other houses around it are set up well. It must have been because of the septic layout.
I haven't seen a major grocery store yet, but plenty of liquor stores. It was 95 degrees at 8:30am this morning, a cold beer probably comes in handy out there!
Having grown up in Valley Center, I find your comments all offensive. They weren't nearly negative enough to cover that total POS sh@#box house.
I know VC went to the crapper when they built the casinos, but did you really have to pour salt on the wound by building such dreck.
Josh
i have to disagree on the accessory garage. Compared to the rest of the building. That was the winner.
The only thing that could sell that property is a bunch of trees in front to block that ugly building.
Jim, you're leaving us hanging here. so were the owners home? did they hand over the keys?
I took some time looking at the zillow aerials, there's really no way to remedy the aweful curb appeal except to buy part of a lot from a neighbor and pull in an entryway from another street.
you're right, sub-$600k sounds right.
I enjoy ocrenter's site, so I'm curious why he'd think real buyers, i.e. those who will actually pay the mtg. for however long they live there, might pay even $500,000 for a house like this? My first thought is, I wonder how much it willl cost to cool this 4400' heat box? And, if the builder went to such extraordinary lengths to build this puppy curbside with worst side forward on a 2 acre lot, what else did he do to cut costs? For starters, it probably has the lowest efficiency a/c unit on the market at building time.
But, beyond that, utility costs make it painfully obvious 4400' houses were an absurd fad promoted only to rationalize otherwise unimaginable selling prices. It follows they'll soon be perceived as an unaffordable folly by the GREAT majority of home-buying 4 person families.
Jim:
I hope someone else is holding the camera OR the wheel. I saw some weaving in that tape.:-)
Hideous curb appeal is an understatement, BTW.
No one was home when I was there Sunday morning at 8:30 am (temp was 95 degrees!), but I caught the kids over there late in the afternoon.
Pops called me back when he got home, and explained that with five kids and asssorted family members living there, they couldn't possibly move for a couple of months. He plans to leave the state.
Here's where I can't understand Countrywide's position. These are the former owners, and only need to receive a 3-day notice to be evicted, yet here I am offering them $2,500 to vacate within two weeks?
When they say no, we'd like to hang around for a couple of more months on the free rent program, will CFC get tough? We'll see, but I don't think they will. Their eviction attorney is out of Costa Mesa, and has to be buried.
We'll see where this one goes, but I'd estimate the loss to Countrywide to be at least $50,000 between selling next week, and beginnning of August.
Think there are a lot of buyers roaming around VC when it's 110 degrees, looking to pay retail?
In addition to being swamped with these sorts of hassles, my guess is that Countrywide is also starving for cash.
It's much easier to have a paper loss of $50K... especially if that loss is taken by the bondholders and not by Countrywide itself.
This story makes me laugh a little... if the guy is lazily talking about moving in "a couple of months" he's probably not going to actually leave until right before the sheriff shows up.
I find this guy's response outrageous, hasn't paid a penny for months, yet he doesn't feel any urgency to get his butt moving. What a sad excuse for a person, I pity the 5 kids.
You've got to remember, the house is an ATM machine, this magic machine that only gives out money and it never needs to be repaid. Anyone who would HELOC their house to amounts in excess of what it's worth isn't going to think twice about living there rent free. It's their right, they are entitled.
Given his reply he isn't thinking twice about it and I agree he isn't about to move until the sheriff shows up. I would bet his mortgage payment (which right now isn't much) that when you call him in a couple of months, you'll get the same story.
CW is trying to bribe people to obey the law? Fantastic.
"A-n-a-r-c-h-y, his name is Captain Anarchy, but only in his mind."
On the topic of high temperatures, I was down in La Jolla last weekend. It isn't usually 90+ degrees in the summer is it?
That is ugly.
You all should see what you can purchase in Texas for $400,000 at that square footage.
I don't think I'd want to live in that hideous box at any price.
I've never lived in Tejas but I'd wager it is nicer than VC.
Free rent...mmmmm and beer mmmmm I hope Barney Frank and Chris Dodd can bail this family out.
Genius, it was definitely unusually warm in LJ this weekend. The marine layer rolled in about 11 am today and it cooled noticeably.