Thursday, March 22, 2007

Motivated or looking for a couple of greater fools? UPDATE #2

Looks like our realtor is trying to drum up some business at Bakersfield Californian Blogs. We orginally featured him here and then did an update here.

From the Bakersfield Californian Blog :

posted by jasonthoele on
Mar 22, 2007 at 10:46 AM

Does anyone have any comments on the recent decline in the real estate market?

posted by Bakersfieldbubble on Mar 22, 2007 at 11:35 AM

Yes.
Why do you post on craigs list with claims of "motivated seller, buy this house and have instant equity"? Meanwhile the homes have been listed for months? Also, these homes appear to be owned by a realtor?
Clearly this is misleading. Is this allowed in the realtor "code of ethics"?



posted by jasonthoele on Mar 22, 2007 at 12:08 PM

I do own the house and I am very motivated!!!! I need to sell this house and it has been appraised at 550K, I am selling it at 460K so there is instant equity. It's not misleading at all.


posted by Bakersfieldbubble on Mar 22, 2007 at 12:37 PM
That home is not worth $550k.

You purchased the property on 2/13/06 for $425,000, whoever did the appriasal should have their license revoked.

At first you listed it for $475,000, now its for sale for $460,000, sounds like some of that instant equity wasn't so "instant"?

Once again, knowing that prices are down year over year, is this misleading. Is this allowed in the realtor "code of ethics"?

48 comments:

Perfect Storm said...

You purchased the property on 2/13/06 for $425,000, whoever did the appriasal should have their license revoked.

This guys is a scam artist.

Bakersfield Bubble said...

After some reseach by subsonic22 @ The HBB - this guy used 100% financing with Fremont. There is approximately $15k of PPP (pre-payment penalties)

Anonymous said...

this dork owns a house down the street listed through Langston Realty for an ungogly sum. Front yard looks like &*^% and the back yard is dirt, house is an eyesore. House has been vacant since the day it was built. Glad I'm renting!

I kind of enjoy his antics on craiglist, they amuse me. LOL

Perfect Storm said...

Anon 7:34

When was the house built?

I am very suprised to see the number of homes for sale that sit empty.

Anonymous said...

here's one of the dorks houses

lol

Subject Property Location
219 RIESLING VINES ST, BAKERSFIELD, CA 93314-4737
County: KERN CA Census Tract: 0038.13
Property Use: Single Family Residential Zoning:
Parcel Number: 408-361-35 Thomas Bros Pg-Grid:

Current Owner:
Owner Name: THOELE, JASON W Recording Date: 05/12/2005
Care Of Name:
Mailing Address:219 RIESLING VINES ST, BAKERSFIELD, CA 93314-4737


County Tax & Assessment:
Assessment Year: 2006 Market Value Year: Tax Rate Code Area: 1-336
Assd Land Value: $100,000 Market Land Value: Tax Year: 2005
Assd Improvement: $328,750 Market Improvment Value: Total Tax Amount: $1,265
Total Assessed Value: $428,750 Total Assessor Market Value: Delinquent Year:
Assessee Name: NGUYEN TRACEY T Tax Account ID:
Mailing Address: 219 RIESLING VINES ST Homeowner's Exemption:
BAKERSFIELD, CA 93314-4737 Tax Exemptions:

Assessment Legal Description
Block: 93 Tract No: 6186
Abbreviated Description: MAP 6186 , BLOCK , LOT 93

Property Characteristics:
Lot Size: 10,890 SF Bedrooms: 4 Pool:
Building Area: 2,722 SF Baths: 2.75 Fireplace: 1
Year Built: 2005 Partial Baths: Type Const:
Number of Buildings: Number of Rooms: Ext Walls:
Number of Units: Garage Type: Heating: Forced Air
Number of Stories: 2 Number of Cars: A/C: Refrig
Style: Basement: Roof Cover:
Foundation: Elevator:

Subject Property Deed/Transfer History:

Anonymous said...

forgot the most important part..

Prior Transfer
Recording Date: 05/12/2005 Sales Price: $350,500
Document #: 0205120904 BK-PG - Type of Sale: Full-Computed from Transfer Tax
Document Type: Grant Deed
Multi APN Flag:
Buyer Names: THOELE, JASON W Buyer Vesting Married Man as his sole and separate property
Care of Name:
Mailing Address:219 RIESLING VINES ST, BAKERSFIELD, CA 93314-4737
Seller Name:LENNAR HOMES OF CALIFORNIA INC,
Mortgage Doc #: 0205120906 Loan Amount: $279,200
Lender Name: ACCREDITED HOME LENDERS INC Interest Rate: 6.99%
Loan Type: Fannie Mae / Freddie Mac 2nd Loan Amt: $69,800
Type Financing: ADJ
Legal Description:
Lot: 93 Tract No: 6186 Map Ref: MB51 PG197-200
City/Muni/Twp: BAKERSFIELD

Bakersfield Bubble said...

Thanks for the additional home info!

Anonymous said...

Note the careful wording "it has been appraised at 550K". The question is WHEN was it appraised?

Corey said...

It's not about price anymore. I'm predicting today's existing home sales report will be 100,000 less than expected. Kiplinger says the Fed will ignore housing all year. More here: http://infohype.blogspot.com

Anonymous said...

SALESPERSON
Name:
Thoele, Jason William

Mailing Address:
3705 ALLOTT DR.
BAKERSFIELD, CA 93311

License ID:
01732808

Expiration Date:
02/05/10

License Status:
LICENSED

Original License Date:
02/06/06 (Unofficial -- taken from secondary records)
Conditional Salesperson License will be suspended if education requirement per section 10153.4 has not been met by 08/06/07.

Former Name(s):
NO FORMER NAMES

Employing Broker:
License ID: 01403132
The Touchstone Real Estate Group Inc
722 E MAIN ST STE 105
SANTA MARIA, CA 93454

Anonymous said...

Correct me if im wrong, but I think he removed the blog entry.

Bakersfield Bubble said...

He deleted it.

Someone else started a new thread there asking why he deleted it. LOL

Anonymous said...

What does this mean?

Buyer Names: THOELE, JASON W Buyer Vesting Married Man as his sole and separate property

and then:

Assessee Name: NGUYEN TRACEY T Tax Account

Perfect Storm said...

Thats how it is recorded with County, not sure about the assessee part.

Anonymous said...

on Jason's Bakersfield blog (before he deleted it) someone posted that Nguyen was his girlfriend.

assessee is the person registered with the county (the one who pays the taxes).

don't know why they're different but alot of the spec homes are listed like this. I would guess it's all part of the shell game the realtwhores are playing.

Anonymous said...

Please remove any personal information postings about me from your blog immediately. Bashing me with personal opinion is one thing but allowing others to post personal information about me is illegal and possibly life threatening. I would greatly appreciate you deleting these posts immediately, thanks.

Jason

Peahippo said...

I encourage people to post public information about the alleged con artist Jason Thoele here, since it is NOT illegal to post publicly-available information, particularly in the investigation of an alleged con artist. I see now that someone removed his people.bakersfield.com blog entirely. It's gone.

HOWEVER, this is the Information Age. They can run, but they can't hide. Alleged con artists like Jason Thoele can TRY to delete exposees of their schemes, but the rest of us can just continue to expose them in arenas that can't be deleted.

Just in case Blogger gets a C&D from the alleged con artist Jason Thoele, I've copied all this information and will repost it in other forums as soon as I see further attempts by the alleged con artist Jason Thoele to suppress it.

Here's doing my part in exposing the alleged con artist Jason Thoele, by digging up his public information (which is perfectly legal, please note!). Some of this information may be obsolete.

website1: LINK
website2: LINK
email1: LINK
email2: LINK
phone1: 800-294-4675
phone2: 661-663-3600
fax1: 661-846-6996
fax2: 661-846-7507
assoc.1: Touchstone Real Estate Group
assoc.1/addr: 9201 Camino Media #200 Bakersfield CA 93311
assoc.2: Brinsfield, Thoele & Associates
alt./addr: PO Box 22202 Bakersfield CA 93390
photo1: LINK
photo2: LINK
place of birth: Fresno CA
present address: Bakersfield CA (1999+)
webhost: LINK

Here's some more information on a person named "Jason Thoele" that may or may not apply to the current person (the alleged con artist Jason Thoele), and may no longer apply anyway even if is the same man. I obtained the information here.

Firm: Bakersfield Cellular
Addr/St: 2665 Calloway Dr Suite 204
Addr/Town: Bakersfield CA 93312
Phone: 6615899382
Suffix: 2619

Now, some questions for Mr. Jason "Alleged Con Artist" Thoele:

1. Why are you lying to the public about getting "instant equity" in a home whose appraisal is outdated at the very least?

2. If that home is lawfully and rightfully appraised for $550K, then why are you trying to sell it for only $460K? In other words, why can't YOU keep and enjoy the "instant equity" in this home?

3. What is your relation to Tracey Nguyen?


While he mulls those over, it's time to contact the mainstream media about the alleged con artist Jason Thoele, and to address his clearly invalid licensing from the NAR. I say his licensing is invalid since he's clearly violating the NAR ethics by outrightly lying to the public about the nature of the home transaction he's trying to enact. We should also contact the CAR and BAofR to make sure his clear violations are recorded for disciplinary action at least.

Anonymous said...

Peahippo, I would like to clear the air becasue although I appreciate your detective work it is not accurate. In response to your questions;

1. Why are you lying to the public about getting "instant equity" in a home whose appraisal is outdated at the very least?
- when my business partner and I first purchased that home there was equity in it, I do have an appraisal that supports $550K and yes I agree that it is not worth that now but still does have instant equity in it as New Century appraised it 2 weeks ago for 490K, I call it instant equity since I have the house for sale at 450K and if its worth 490K then you have 40K instant equity.

2. If that home is lawfully and rightfully appraised for $550K, then why are you trying to sell it for only $460K? In other words, why can't YOU keep and enjoy the "instant equity" in this home?
- as I mentioned before it is an investment and since it is vacant it is becoming a burden, I am very motivated to get this house sold and realize and may not even sell it for the 450K that I am asking but I have to try.

3. What is your relation to Tracey Nguyen?
- I have no idea who Tracey Nguyen even is, may a buyer of one of the houses I had, not real sure.

Thanks for your concern in these matters, I can assure you I am probably one of the most straight shooters you will ever meet and again I would very much appreciate the cease of any future negative posting. Thanks

Jason

Perfect Storm said...
This comment has been removed by the author.
Anonymous said...

Sounds like realtwhore speak to me.

Anonymous said...

In Response to;

Who is NGUYEN TRACEY T Tax Account you realtwhore and does she pay your property taxes you dead beat.
- as previously posted, the only thing he/she could be is the person that bought of the houses I had other than that I dont know who this person is.

Jason

Perfect Storm said...

"New Century appraised it 2 weeks ago for 490K, I call it instant equity since I have the house for sale at 450K and if its worth 490K then you have 40K instant equity."

New Century is history you loser they can't even make loans in California, thier stock is worthless.

Anonymous said...

In response:

"New Century appraised it 2 weeks ago for 490K, I call it instant equity since I have the house for sale at 450K and if its worth 490K then you have 40K instant equity."

New Century is history you loser they can't even make loans in California, thier stock is worthless.
- I totally agree and truly believe that was part of the reason that they so severly under the value on this home. Lenders right now are just trying to stay afloat because of all the "investors that sucked their equity out" I never do that nor would I because I am an agent and I care of the real estate industry, I have always just flipped house whether new or old and sold them at market value or below for a quick sale. The house I have now I have already lost tons of $$$ and probably will loose lots more becasue of the slump, as they say if you play sometime you pay!

Jason

Perfect Storm said...
This comment has been removed by the author.
Anonymous said...

I say you give the guy a break. He is just your typical real estate agent.

I have seen property descriptions that make the "instant equity" thing look like childs play.

There are alot of angry people out there who cannot afford to buy a house due to this massive housing bubble and they are taking out their frustrations on people in the business.

I think we should have some pity for Jason because he himself got caught up in it. He has empty property for sale in a declining market.

This was the biggest housing bubble in history, lets not beat-up on one agent who may have his own problems making ends meat in the near future.

Bakersfield Bubble said...

In your last CL posting you said the home was worth $550k, this was a few weeks ago. You knew then it was not worth didn't you? You claimed "$75k of Instant Equity". That is exactly what the post said.

Do whatever you want. The DRE and CAR don't follow up with this stuff. Only a few bloggers out there actually care about how the real estate industry tries to spin and mislead others into thinking its always a great time to buy. I am going to listen to the Stan and Susan Ferguson show at 10:00am on 1410 and I can guarantee they will say "its a great time to buy". They say that in every single show. They have said it for years. Yet, people listen and take this is real investment advice. Its not! They are salespeople!

This industry needs some serious regulation and more importantly some serious enforcement. This is the biggest financial decision in most peoples lives and they are not getting the truth from all of these salespeople who claim to have their best interest. There are 100-140 NOD's a week in this County. Clearly many people got in over their heads by listening to bad advice. Are they to blame as well, absolutely.

Bakersfield Bubble said...

"I say you give the guy a break. He is just your typical real estate agent."

_____________________________

I am not picking on him. I have posted (as have thousands of other real estate bubble bloggers) on many local real estate people. Builders, Lenders, realtors, etc...

In fact, I have posted many stories on Mary C. and she seems to be doing great. I will give her credit for one thing, she has no problem dropping her prices by hundredes of thousands of dollars. Not sure why she keeps listing homes at such idiotic prices then comes in and whacks the prices by so much?

I have 160+ posts on this blog plus hundreds at the HB Blog. I think there are some honest REIC members out there. But I think his CL posting were very misleading. I ran this by several realtors ALL agreed that was misleading. They also said the "code of ethics" is a joke with ZERO enforcement.

Anonymous said...

In response:

In your last CL posting you said the home was worth $550k, this was a few weeks ago. You knew then it was not worth didn't you? You claimed "$75k of Instant Equity". That is exactly what the post said.

- if thats what the posting said then it was posted in error, as of approx 3 weeks ago is when I found out that the house was newly valued at 490K, here is the link for the CL postings dating back to march 2 http://bakersfield.craigsli... with my new price of 459K, and there is no mention of any instant equity even though there still is.

Do whatever you want. The DRE and CAR don't follow up with this stuff. Only a few bloggers out there actually care about how the real estate industry tries to spin and mislead others into thinking its always a great time to buy. I am going to listen to the Stan and Susan Ferguson show at 10:00am on 1410 and I can guarantee they will say "its a great time to buy". They say that in every single show. They have said it for years. Yet, people listen and take this is real investment advice. Its not! They are salespeople!

- I agree there is alot of misleading people out there and as far as the DRE and CAR, your right I have made complaints to them for some commission disputes and they dont do anything but thats not the point I want to make. I just want you and everyone else to realize that I am not misleading in my postings, I take my career and busines very seriously and yes I do make a few extra dollars investing in real estate but have never screwed or mislead anyone.

This industry needs some serious regulation and more importantly some serious enforcement. This is the biggest financial decision in most peoples lives and they are not getting the truth from all of these salespeople who claim to have their best interest. There are 100-140 NOD's a week in this County. Clearly many people got in over their heads by listening to bad advice. Are they to blame as well, absolutely.

- I totally agree but Realtors must also be held to a higher standard, that is why i get my clients underwritten approved and fully disclose everything before taking my clients to look at homes. it's alot easier to explain things up front not to mention if the client gets sticker shock you have not wasted anyones time :-)

Jason

Anonymous said...

Sorry all, here's the link;

http://bakersfield.craigslist.org/search/rfs?query=trackside&minAsk=min&maxAsk=max

Jason

Anonymous said...

I wrote "give the guy a break" post and will call myself anon_abc for this thread.

Thats actually a pretty nice house and would fetch over a million if it was in my city.

I don't know ANYTHING about the Bakersfield market so I really have no idea what its worth right now.

I'm not knocking you "bakersfield bubble". I just see alot of other people piling on here. It just reminds me of everyone jumping on someone after they are down.

Bakersfield Bubble said...

"I'm not knocking you "bakersfield bubble". I just see alot of other people piling on here. It just reminds me of everyone jumping on someone after they are down. "

Point taken.

However, what if he (or any other realtor/builder) had found a greater fool to buy this home (or any other home) for a much higher price and now found themselves underwater. They would be awfully upset to find out they did not have any equity.

Anonymous said...

There is equity in it, if i sell the house for 459K and it is appraised from a conservative lender... obviously since they are in financial trouble for 490k that is what we call equity.

It seems that some people here do not know what equity is since its just not sinking in so;

http://www.investorwords.com/1726/equity.html

Definition 4

The value of a property minus the owner's outstanding mortgage balance.

Jason

Request #2: Please remove any and all personal information from this and any other blog site you have.

Rob Dawg said...

Anonymous said...
Please remove any personal information postings about me from your blog immediately. Bashing me with personal opinion is one thing but allowing others to post personal information about me is illegal and possibly life threatening. I would greatly appreciate you deleting these posts immediately, thanks.

Jason


Jason, why are you accusing someone of illegal activity? Don't you know that is slander/libel? Posting of personal information on the internet is illegal? Good luck sueing the County Tax Assesor and Recorder. You get back to us and tell us how it goes.

Lokk, you lied, you got caught lying. you are upset. Understandable. Understandable, not excusable.

Anonymous said...

Hey Jason; what are you gonna do after your inevitable failure forces you to actually work for a living?

"would you like fries with that?"

idiot realtwhores... let'em rot

Anonymous said...

Everyone has their own opinions on these blogs and it's certainly their business to share them however when you post people's personal information that is otherwise somewhat private then yes thats cause for some upset.

Post your home address up on this blog if your so trusting.

Request #3
Please Remove my personal information from this and all other blogs associated with this blog immediately

Perfect Storm said...

Classic, do you want fries with that.

This a good thread, Crispy, you should post this up again so we can have another run. Anybody got more info on Jason.

Perfect Storm said...

Hey Jason,

When you applied for the loan did you mark owner occupied?

If you did you might have committed loan fraud. Maybe we should find out?

Perfect Storm said...

Hey Jason,

How many homes have you flipped, maybe you should be considered a dealer in the eyes of the IRS and get taxed at ordinary income instead of capital gains.

Anonymous said...

Hey Perfect Storm,

You make alot of judgments sitting behind your computer, whats your name?

Peahippo said...

Firstly, this Jason character can make those requests all he wants. The vast majority of what I discovered, I did so on www.jasonthoele.com. The rest came from typing "Jason Thoele" into google (which even Osama bin Laden can do from his Firefox browser there in a cave in Pakistan). Apparently, the other public information was gained from government databases which the public is free to reference.

Secondly, there is no cause for his requests to become legal FORCE. I'm not removing my posting, and Crispy is assuredly not removing the entries either (unlike a certain someone who removed not only his blog entries, but his entire blog, once caught in the "instant equity" lie). This Jason character's only hope is to somehow threaten Blogger with a C&D ... which is why I urged others to copy the information provided here for instant re-posting on another site if Blogger submits (in all its corporate cowardice).

Thirdly, I know the "instant equity" angle is just a lie since the existence of such widely varying "appraisals" only means that there is no current knowing what the real value of the home is. If there was really "instant equity", Jason Thoele should be able to transfer the home via a sale based upon that equity price alone. People all over craigslist are doing that right now ... although we must note that many are buffoons who are just trying to get you to take their highly overpriced homes off their hands. There's no "instant equity" in a $600K home purchased with a $40K downpayment while the home was overpriced 200% to begin with. In order to actually enjoy the long-term equity in that example home, the bank would have to accept a price adjustment to $200K against which the $40K actually applies. (Go ahead and calculate the odds of any bank accepting such an adjustment, folks.)

What Jason Thoele needs to do is stop pushing his opinion as truth. It is only his opinion that buying that home off him will result in "instant equity". There are no reliable facts that support the idea that you'll have ANY equity, however instant it is. Although I don't really know, I do suspect he's trying to prey upon the dipshit Californian -- often called the Clownifornian -- who has made GREAT USE of the HELOC over the last 6 years. Dangling equity right before his nose is like flashing a red cape at a bull; he charges, Charges and CHARGES, then uses a HELOC to get the cash to cover such extensive use of his credit cards.

We need to emphasize to the Clownifornian that the home he buys should be priced to no more than 2.5 times his income. That is called "rational" and history supports that metric. That puts about 95% of current CA homes off the rational market. Until rationality returns, they should just rent ... from people like Jason Thoele, who endure those idiotic monthly carrying costs until they relent from their asset-speculation ways, absorb the total loss, and the price drops to where it must be (which history clearly shows, home-price appreciation strongly tracks income).

P.S. It's a real pleasure to discuss these matters with a person claiming to be a realtor, and NOT have the blog summarily deleted when the discussion goes against him. Thank you, Crispy and Blogger. The mainstream media are fucking traitors due to their monolithic support of the Great American Housing Bubble of the 2000s. Whatever David Lereah and other housing speculators said, the mainstream media not only repeated, but repeated endlessly, while ignoring almost completely any voice that said otherwise. With the Internet, we can finally pierce this outright propaganda system, although it's far, far too late to save millions of homedebtors across the USA and in fact the entire world (as there are housing bubbles in the UK, France and Spain right now, as well as Alberta Canada and spottily otherwise). Funny money and lax regulation/morals are causing asset speculation to basically destroy home ownership. If the real-estate industry really wanted to expand home ownership, it should have built more, cheaper homes than we had in 2001. To repeat: home ownership is only expanded by DROPPING the prices of homes, not by increasing them (100% and more, too!).

Perfect Storm said...

Hitting the bottle hard Jason.

Perfect Storm said...

You freakin tool.

Anonymous said...

That what I figured, everyone can poke and judge me from behind their computer but nobody gives any names... why is that???

Most of you, peahippo, perfect storm, bakersfield bubble seem to have all the answers but nobody will step up and tell me who they are. So I guess the bottom line is that you guys all feel strongly enough to contine typing slanderous accusations about me but nobody will take credit for it.

What could you possibly be afraid of...

Anonymous said...

Anyone interested in giving up their name?

Peahippo, maybe you should since with your last blog you apparently are a lawyer and know everything about C&D Law. C'mon just one name that all I want then we can really play! It'll be fun I promise.

Perfect Storm said...

My name is Spartacus, you freakin tool.

Anonymous said...

Does the brave Spartacus have a last name and where might Spartacus live?

Perfect Storm said...

No I am the brave Spartacus.

Perfect Storm said...

No, no me I am Spartacus, you frakin tool.