This beautiful home (LMAO, look at that plant in the front yard) is about to be an REO. The owner needs to sell and is looking for a buyer to participate in their short sale. Per the Craigs List listing :
$214900 3+1 NEED TO SELL ASAP
Take advantage of this 3 Bd 1 Bath PLUS DEN 1265 sqft. w 2 car garage home. New tile in kitchen, bathroom and den. Seller is in default and must sell 
now! Bring all offers! Priced for quick sell! Great for first time buyers. We can also help you get pre qualified.
please feel free to call us at 800-635-4799
WE OFFER 3% TO AGENTS, SALE AND TERMS ARE SUBJECT TO SHORT SALE APROVAL OPEN HOUSE SCHEDULED FOR JAN SATURDAY 13TH AND SUNDAY 14TH 11AM-3PM
HOPE TO SEE EVERYONE THERE!
The facts, you say. Purchased 2/25/05 for $180,000. Hope to see everyone there?
Friday, January 05, 2007
"HOPE TO SEE EVERYONE THERE"
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12 comments:
Is that Casey's office??
Nice potted palm tree in the front yard. I can tell that the increase in price of $34,900.00 is all due to the carefully manecured lawn. Diffenently a good buy if you plan on losing your ass.
I am sure some crooked loan officer will fake up an appraisal for $300k and then the seller can cash back the borrower $75K.
Net of commissions, HELOC and cost to remove that potted plant, this homeowner is walking away with only the shirt on their back!
With crap boxes like this for sale in Bakersfield inventory is going to go through the roof. Nobody is going to buy junk like this.
I would pay $15K for this crap box so my dog could live there and he take leak on the potted palm.
I can't believe that moron paid 180K for that. Let's see... 3X income = 180K, this is what 60K a year gets in Bakersfield? Oh wait, they want 215K, so you need to make 72K for that. Oh, and traditional lending means coming up with 43K down. Anybody have Bakersfield income stats?
Median HH is around $38k...
These people live in a dreamland. Your walking away with only their shirt on their back comment is correct.
By the way I just posted the Phoenix Report and changed the entire thebubblebuster.com website. Additionally, I've updated the reports with new data for all 20+ cities. Check it out...
Just let the bank have this piece of crap.
Whoever the now soon to be former owner is, just leave the keys on the counter and head to the local bar.
Just chug down a couple and bitch about how you were screwed by the realtor.
I see that Casey's partner Chris bought a house too? LOL
One bathroom houses are so out of demand .But its pretty hard in California to find any house under 200k so I would not be surprised if some jackass bought the place.
To me it looks like a 75K place .I can't imagine that the house is in a good location .
Looks like the Housing Wizard was right on the money. I got the following from Zillow:
Sale History
02/25/2005: $180,000
02/28/2001: $73,500
Assessed value is 183k.
Thi guy is headed for teh doghouse for sure.
But I propose a simple solution (another category of loans)to sustain housing and stop this spiral of foreclosures. This saves the buyer and the lender and the real estate industry in this country.
-Make open-ended loans...or someting like "till-dead-do-us-part" loans. It works something like this. Take a $400K loan for say $500 a month....and on your death the the house reverts to the lender. Assume you got the house at age 30 and lived till 80, you would have paid $300K so far...yet the house still belongs to the lender...and both make out just fine. No stress. no wahala!!!. You should be able to manage $500 a month payments even with a few months job loss. I would go this type of loan anyday.
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