Comments on: Santa Clara County: preforeclosure activity spikes 234%

By: RealEstater

RealEstater — Wed, 14 Jan 2009 07:59:53 +0000

Based on Zillow, I’m seeing home values in my zip rising for the past couple of months.

By: madhaus

madhaus — Mon, 12 Jan 2009 19:00:49 +0000

rick, there have to be cheaper places in Cupertino than that vacant lot in Rancho Rinkydinky you posted in #7. Wasn't there some street right up against Lawrence and Stevens Creek that had some real "winners"? At least the house I saw yesterday in Sunnyvale had an actual house on it. ($949K for a 2/1! In Sunnyvale! Ha!) nomadic(k) and anon, you two never fail to crack me up. Thanks.

By: R

Mon, 12 Jan 2009 18:55:11 +0000

But did they buy in the “real bay area?”

By: BuyersAreIdiots

BuyersAreIdiots — Mon, 12 Jan 2009 18:38:43 +0000

LMAO!

I have three friends now who all stupidly bought during the bubble times. All three are now sitting on properties that are underwater. One of them is now unemployed and is looking at a rate reset this year on his interest-only loan.

By: nomadic

nomadic — Mon, 12 Jan 2009 16:29:57 +0000

Chickens? Yep – we got ‘em in Los Gatos too. The lady is meticulous about keeping things clean so the neighbors don’t complain. They’re in a regular neighborhood.

The people up the road with an acre or two have goats.

Renter4 is correct about Gilroy never being RBA though. Too dang far away.

By: DreamT

DreamT — Mon, 12 Jan 2009 06:46:08 +0000

Renter4 – I do know of a backyard not far from 280 in San Jose that regularly births chicken. Wonder what the neighbors think of the rooster. No cows, though.

By: Renter4

Renter4 — Mon, 12 Jan 2009 06:39:56 +0000

In fairness, Gilroy was never RBA… No place where you can see a cow birthin’ in someone’s back yard should count as suburbia.

By: nomadic

nomadic — Mon, 12 Jan 2009 05:06:55 +0000

Hey, RE said the rich Wall Street guys all had their places paid off. They certainly couldn’t be angry renters…

The Wall Street stockbroker had used FlatRate Moving, a high-end moving service, a half-dozen times over the years. They moved him from a modest apartment on the Upper East Side to a grander one on the Upper West. He called when he moved to an even better building in Midtown. Most recently, FlatRate helped settle him and his wife and child into a 3,000-square-foot loft in Soho, one of Manhattan’s priciest neighborhoods.

FlatRate got another call two months ago. The client was packing up his family for a two-bedroom apartment in the less expensive Park Slope, Brooklyn. He had lost his job and was no longer in a position to pay the $3,000 to $5,000 a month he’d shelled out before.

“We did the move almost at cost”—for under $1,200, says Michael Kessler, FlatRate’s vice president of marketing and sales.

Now, FlatRate gets calls for “downgrade” moves about once a day, Kessler says, mostly from clients in the financial world, many of whom are leaving Manhattan for Brooklyn or Queens.

http://www.portfolio.com/culture-lifestyle/goods/style/2008/10/29/Luxury-Discounts?PMID=alsoin/Cheaper-Chic

(The article is from 10/08. The exodus started quickly after the big meltdown.)

By: nomadic

nomadic — Mon, 12 Jan 2009 03:36:22 +0000

Hell, you could find almost that much if you searched my sofa cushions. My car seats would give you the rest.

By: anon

anon — Mon, 12 Jan 2009 03:31:26 +0000

“anon (#6), come to your senses, man! 234% isn’t that much when you’re going from 3 foreclosures to 7!”

Lol point taken.

“Foreclosures just don’t happen in the RBA! We don’t have any of those funny loans either. ”

Of course not! Nobody stretched even a little bit to get in on 7% appreciation per year on 1.5 mil instead of 1.0 mil…

After all, the difference is only 35k per year… Ask RE – that’s chump change to anyone in the RBA.

I’m sure.