Quail Hill Foreclosures

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Thanks, IR. Although the numbers still surprise me (and make me feel more successful), I guess that's what it is. That's a very useful table. I'm feeling good about 2002 to <em>maybe</em> 2003 pricing as a good entry point.
 
<p>By the way, if I drop 30y mtge rate by 2% to 4.5%, current home price vs rent becomes fair.So all that the Fed needs to do is bring 30y mtge rate down.</p>

<p> </p>
 
Yes, a 30% decline in mortgage rates would certainly help. That happened from 1990-1996 which softened the decline. Unfortunately, it is probably going to go the other way this time. I think 9% is more likely than 4.5%.
 
<p>Ok, I checked the House Pr column against Case Shiller and it checks out.</p>

<p> Your Rent appears to be directly derived from the Income column, were rents more or less affordable in 1997? I recall paying something like $1200/mth for a 2br IAC condo in 1993/94 (corner of Jamboree and Main)</p>
 
I don't have good rental data because it needs to be property specific to have any real value. One of these days, I am going to get the historical data on rental equivalency from the CPI. They survey 2 bedroom units then adjust for 3 and 4 bedrooms based on a market sample. It isn't super accurate, but it is closer than other estimates.
 
<p>Apparently, a car crashed into someone's home in the QH housing off Peppercorn. Heard the driver had a seizure. Nose of the car went right thru the stucco.</p>
 
Is that a "T" intersection? a house at and of the intersection has very bad "chi" and often the family is exposed to bodily, health, and financial harm. In this case the repair is a financial loss. Feng Shui recommends a mound, a tree, or layered of courtyard walls to slow down and dissipate the "chi" that is coming directly at the house. It is a fix but not a complete cure to the problem. A tree directly at the center of a front door is an obstacle for career and educational advancement.
 
>Feng Shui recommends a mound, a tree, or layered of courtyard walls to slow down and dissipate the "chi" that is coming directly at the house.





It's not a bad way to slow down an out of control car either...
 
I go hiking by Quail Hill often and like the place, but am concerned about the properties that backs up against "open space". Nice to look at when it's green, but turns into a giant tinderbox during summer time.





Also, I noticed some stores in the QH center isnt' doing well. Kabloom is gone. :( That was my favorite flower shop in the area.
 
Even after a $500,000 reduction,<a href="http://redfin.com/stingray/do/printable-listing?listing-id=1292398"> 515 Luminous</a> is still a WTF price. Another $500,000 drop, and they might sell it.
 
<p><em>What is the story with 515 Luminous? It looks like they dropped their asking price $500,000.</em></p>

<p>Just matched 51 Momento, and squeezed under the "psychological" $400/sqft level I figure...</p>
 
Mitsui is owned by Taiwanese. Bad service is expected in Chinese owned restaurants. Japanese on the other hand has better hospitality.
 
<p>"Even after a $500,000 reduction,<a href="http://redfin.com/stingray/do/printable-listing?listing-id=1292398"> 515 Luminous</a> is still a WTF price. Another $500,000 drop, and they might sell it."</p>

<p>If 515 Luminous is worth $1.2M, how much do you think this one a couple of blocks away just went into escrow for?</p>

<p><a href="http://www.socalmls-homes.com/Listing/ListingDetail.aspx?Listing=27406493">http://www.socalmls-homes.com/Listing/ListingDetail.aspx?Listing=27406493</a></p>
 
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