April 28, 2008

Foreclosures in Santa Clara zoom up 190.5% – why?

Burbed reader Madhaus thought it would be important to share this news:

Another Jump in California Foreclosure Activity

Seems ominous right?

Well, let’s think about Santa Clara County. Do you know what it includes?

Yep, that’s right… it includes Gilroy. Let’s talk more about Gilroy in a little bit shall we?

Comments (15) -- Posted by: burbed @ 4:52 am

15 Responses to “Foreclosures in Santa Clara zoom up 190.5% – why?”

  1. Pralay Says:

    There is no such thing as foreclosure in RBA. Period.

  2. Pralay Says:

    BTW, did you guys notice that Santa Clara Country rate is higher than “outskirts”, including San Joaquin, Contra Costa? Now look back one year. How was it in 2007? Didn’t you guys hear “Foreclosure? That’s only for overdeveloped places like Stockton. Not going to happen in Santa Clara county.

  3. RealEstater Says:

    Typical problem with viewing things from 10,000 feet level, and not understanding what’s happening. It should be well known that South and East San Jose are not premium areas. This sort of headlines is just like those that say: ” Bay Area prices Dropping!”, and then we find out they’re talking about Contra Costa County.

  4. madhaus Says:

    First they foreclosed on Florida real estate, and I did not care because I lived on the other coast.

    Then they foreclosed on Stockton real estate, and I did not care because I live near high-paying jobs.

    Then they foreclosed on Sacramento real estate, and I did not care because I live in the Bay Area.

    Then they foreclosed on Contra Costa real estate, and I did not care because I live in Silicon Valley.

    Then they foreclosed on Gilroy real esate, and I did not care because it’s an hour’s commute.

    Then they foreclosed on East San Jose real esate, and I did not care because it’s a crappy neighborhood.

    Then they foreclosed on North Sunnyvale real estate, and I did not care because I live in the Real Bay Area.

    Then they foreclosed on my neighborhood and I did not care because I bought before the peak.

    Then all the comps in my neighborhood were adjusted down by 40%.

    And then I was underwater.

    My lawn will not need watering for a long time.

  5. RealEstater Says:

    There is no foreclosure problem in the real Bay Area. I showed the stats from the SF Chronicle website last time:

    CITY – # of Foreclosures
    ——————————-
    Sunnyvale 94087 – 3
    Mountain View 94041 – 1
    Cupertino 95014 – 1
    Los Altos 94024 – 0
    Palo Alto 94301 – 0
    Palo Alto 94306 – 0
    Atherton 94027 – 0
    Woodside 94062 – 0
    Menlo Park 94028 – 0
    Burlingame 94010 – 1
    San Carlos 94070 – 2

    If you’re looking for perfection, you’re not going to get it. Think of RBA as the “Green Zone” in Iraq; it’s as safe as you’re going to get.

  6. Crossroads Says:

    That’s actually a pretty horrible analogy given what’s happening in the Green Zone right now.

    http://ap.google.com/article/ALeqM5gkx-3oYeFwuWKCusr2jrojs98w8wD90B3BCG0

    “4 US soldiers killed; militants shell Green Zone”

  7. Pralay Says:

    That’s actually a pretty horrible analogy given what’s happening in the Green Zone right now.
    ————

    And what a connection! Condoleezza Rice is from RBA-US (Palo Alto to be precise). Recently she visited RBA-Iraq.

    One small problem though. Her meeting was interrupted 3-4 times due to rocket attacks on Green Zone.

  8. RealEstater Says:

    If the US gets into a recession, then this area will weather it better than most other places. In other words, if you are invested the RBA, you are in the right place at the right time at the right interest rate right now!

  9. madhaus Says:

    RE, you still haven’t defined RBA. So it doesn’t matter that you keep claiming it’s safe since you won’t tell us exactly where it is. I’m sure there’s junk houses in every one of those zip codes too.

    And with each mortar attack, the residents retreat further from the breached walls until we’re left with a block in Palo Alto.

    Checked the preforeclosure list lately?

  10. RealEstater Says:

    >>RE, you still haven’t defined RBA.

    Madhaus,

    Be careful. If you spend more time on this subject, I know a guy here who will call you “low IQ” for taking this concept too seriously.

  11. Pralay Says:

    I think we all agree that the concept of RBA is a joke. That makes post#8 in this thread the funniest joke of all.

    RealEstater, keep funny stuffs coming. :)

  12. RealEstater Says:

    Case closed. The attack dog is back after holding back for a mere day.

  13. Pralay Says:

    Sorry for misunderstanding RE. Post #11 was a compliment to you – for your funniest joke.

  14. Renter4 Says:

    Pastor Niemoller mentions should be included in a corollary to Godwin’s law.

  15. ex-sunnyvale-renter Says:

    Santa Clara was a blue-collar town where mediocre houses were bought by aerospace and tech workers to raise their kids in. The workers had to put 20% down, be able to hold a job reasonably well, keep their noses clean etc.

    Enter their druggie crime-prone 30-something kids. Now Santa Clara is the Stepford-slum.


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