Losses Outside of Irvine

NEW -> Contingent Buyer Assistance Program
<p>36% loss in Orange. </p>

<p>1334 East Chalynn AVE


Orange, CA 92866 </p>

<p><strong>Price: $433,900</strong></p>

<p>$/Sq. Ft.: $272</p>

<p>Beds: 3


Baths: 2


Sq. Ft.: 1,594


Lot Size: 7,169 sq. ft. </p>

<p>Sale History:</p>

Feb 28, 2003 $385,000


<strong>Feb 23, 2007 $685,000 </strong>


Dec 11, 2007 $488,750


<p>


<img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/483/P622483_0.jpg" /> </p>

<p> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1479631">http://www.redfin.com/stingray/do/printable-listing?listing-id=1479631</a></p>
 
layerliz,





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Everybody just went insane? Like sometimes in school students come down with actual distress, but there isn't anything wrong, just some sort of mass hysteria?
 
I didn't buy any. I thought it was insane. These stocks didn't make money and were never gonna make money. So why buy them? Greater fool theory? Well, I don't make fun of poor souls and I don't take money away from fools.
 
<p>SFH in Tustin, I welcome you to the thread with a 29% loss. </p>

<p>15702 California ST


Tustin, CA 92780 </p>

<p><strong>Price: $430,000 </strong></p>

<p><strong>$/Sq. Ft.: $240</strong></p>

<p>Beds: 4


Baths: 2


Sq. Ft.: 1,789


Lot Size: 7,200 sq. ft. </p>

<p>Sale History:</p>

May 19, 1998 $185,000


<strong>Jul 14, 2005 $607,000 </strong>


<p>


<img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/762/P619762_0.jpg" /> </p>

<p> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1436317">http://www.redfin.com/stingray/do/printable-listing?listing-id=1436317</a></p>
 
<p>38% loss. Thanks, Fullerton! I was getting bored by Anaheim losses. </p>

<p>501 South Richman AVE


Fullerton, CA 92832 </p>

<p><strong>Price: $399,000 </strong></p>

<p><strong>$/Sq. Ft.: $224</strong></p>

<p>Beds: 4


Baths: 2


Sq. Ft.: 1,784


Lot Size: 7,420 sq. ft. </p>

<p>Sale History:</p>

Jun 05, 1989 $46,000


Sep 06, 1990 $163,000


Apr 06, 1998 $124,339


Sep 18, 1998 $145,000


<strong>Sep 12, 2006 $645,000 </strong>


<p>


<img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/560/P621560_0.jpg" /> </p>

<p> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1465043">http://www.redfin.com/stingray/do/printable-listing?listing-id=1465043</a></p>
 
<p>39% loss in Orange. The bank isn't messing around.</p>

<p>1601 East Riverview AVE


Orange, CA 92865 </p>

<p><strong>Price: $430,000 </strong></p>

<p>$/Sq. Ft.: $252</p>

<p>Beds: 3


Baths: 2


Sq. Ft.: 1,704


Lot Size: 8,300 sq. ft. </p>

<p>Sale History:</p>

<strong>Oct 17, 2006 $710,000 </strong>


Dec 06, 2007 $607,292

<p>


<img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/273/S517273_0.jpg" /> </p>

<p> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1385415">http://www.redfin.com/stingray/do/printable-listing?listing-id=1385415</a></p>
 
Ohio, West Virginia Homes Auctioned At Rock Bottom Prices

<em>Foreclosed Homes Sold to `Out-of-Towners'</em>

<em>Scott MacFarlane </em>

POSTED: 4:42 pm EST February 15, 2008

UPDATED: 4:08 pm EST February 19, 2008



<a href="http://reddit.com/submit?url=http%3A%2F%2Fwww.wtov9.com%2Fnews%2F15314593%2Fdetail.html&title=Ohio%2C%20West%20Virginia%20Homes%20Auctioned%20At%20Rock%20Bottom%20Prices" target="_blank">


</a>



<script src="http://www.wtov9.com/js/13260191/script.js" type="text/javascript"></script>

<strong class="Dateline">BOARDMAN, Ohio -- </strong>Some people in our area are taking advantage of the mortgage meltdown: they're buying foreclosed homes for pennies on the dollar.A series of home auctions are being held from coast to coast to help banks unload some of their lower-priced stock of foreclosures.NEWS9 cameras were allowed inside some of the most recent auctions in Ohio and Pennsylvania, and some of the properties in our region sold for just <strong>$3,000</strong>.Click on the links to the right to find out more.
 
<p><em>some of the properties in our region sold for just <strong>$3,000</strong></em></p>

<p>I know all about this...as it actually happened in my old condo complex in Connecticut. Once the crash bottomed in the mid 90's, the REO's went to absolute auction (will be sold, no matter what the bid)....a new guy moved in a few doors down from me, I asked him what he bought the condo for, he said "You don't want to know". (knowing I was an owner...he was trying to be gracious). When I pressed him, he told me $3000.00. I almost fainted.</p>
 
WOW! Did any of you look at the pictures for the 1601 East Riverview AVE, Orange, CA 92865 property?



I seriously doubt it will get $430k with a crap interior like that.
 
<p>Four middle class homes, four middle class neighborhoods.</p>

<p>One million dollars in losses.</p>

<p> </p>

<p>Yeah, that's no misprint. It's $954K in losses from peak prices before any commissions for the four above homes Cayci posted.</p>

<p>Four middle class homes, one million dollars in losses.</p>

<p>I see the same thing in neighborhood after neighborhood when looking through the MLS. $150K, $200K, $250K pending losses if they get their asking price in otherwise middle class and upper middle class neighborhoods.</p>

<p> </p>
 
<p>The rather scary implications of that are discussed at Roubini's site</p>

<p>The Forthcoming “Jingle Mail” Tsunami: 10 to 15 Million Households Likely to Walk Away from their Homes/Mortgages Leading to a Systemic Banking Crisis</p>

<p>http://rgemonitor.com/redir.php?sid=3&tgid=0&cid=244768</p>
 
<p><em><strong>"The buyers are picky; and many sellers are not agreeable to offers which are in line with the most recent sales comparables. This ’stand off’ between buyers and sellers has prevented the sales volume from rebounding further, but as sellers become more accustom to the new price level I believe they will accept reasonable offers. …"</strong></em></p>

<p>Yoo-hoo! HB'ers! 2004 is calling! They want their prices back!</p>

<p><a href="http://lansner.freedomblogging.com/2008/02/21/huntington-beach-home-pricing-at-mid-2004-levels/#comments">http://lansner.freedomblogging.com/2008/02/21/huntington-beach-home-pricing-at-mid-2004-levels/#comments</a></p>
 
That is such a joke. Once sellers become accustomed to the new price levels, the price levels will have dropped. It is when they get worried about more drops and begin to sell in a panic that it will really become interesting.
 
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