Comments on: Superstars of Housing Love: The Sheriff Deputy Evicting People who Default. http://www.doctorhousingbubble.com/superstars-of-housing-love-the-sheriff-deputy-evicting-people-who-default/ How I Learned to Love Southern California and Forget the Housing Bubble Fri, 09 Jan 2009 13:14:44 +0000 http://wordpress.org/?v=2.2.2 By: Anonymous http://www.doctorhousingbubble.com/superstars-of-housing-love-the-sheriff-deputy-evicting-people-who-default/#comment-910 Anonymous Mon, 21 May 2007 01:52:00 +0000 http://www.doctorhousingbubble.com/superstars-of-housing-love-the-sheriff-deputy-evicting-people-who-default/#comment-910 Well, folks in California are lucky in the sense that they can simply leave the keys on the counter and walk away, since the lender can't pursue a deficiency judgement against them.<br/><br/>In most other states when the lender incurs a loss on sale after foreclosure they can and will com after you for the difference. Well, folks in California are lucky in the sense that they can simply leave the keys on the counter and walk away, since the lender can’t pursue a deficiency judgement against them.

In most other states when the lender incurs a loss on sale after foreclosure they can and will com after you for the difference.

]]> By: Anonymous http://www.doctorhousingbubble.com/superstars-of-housing-love-the-sheriff-deputy-evicting-people-who-default/#comment-817 Anonymous Wed, 09 May 2007 15:09:00 +0000 http://www.doctorhousingbubble.com/superstars-of-housing-love-the-sheriff-deputy-evicting-people-who-default/#comment-817 Still, a rather sleazy way to make a living(as are many others); he shouldn't be surprised if he meets equal or greater(to Glock)<br/>resistance some day-with both he and his victim never having to worry about debt again. Minimal loss to society, with the biggest tragedy being that the greatest culprit,the lender,(who should know better and act responsibly in extending credit, aka, say 'no' at times)doesn't join in the dirt-surfing as well. Still, a rather sleazy way to make a living(as are many others); he shouldn’t be surprised if he meets equal or greater(to Glock)
resistance some day-with both he and his victim never having to worry about debt again. Minimal loss to society, with the biggest tragedy being that the greatest culprit,the lender,(who should know better and act responsibly in extending credit, aka, say ‘no’ at times)doesn’t join in the dirt-surfing as well.

]]> By: socalappraiser http://www.doctorhousingbubble.com/superstars-of-housing-love-the-sheriff-deputy-evicting-people-who-default/#comment-803 socalappraiser Mon, 07 May 2007 22:24:00 +0000 http://www.doctorhousingbubble.com/superstars-of-housing-love-the-sheriff-deputy-evicting-people-who-default/#comment-803 Dr.,<br/><br/>Another appropriate article as to the state of things, and things to come. As far as the sheriff and the housing bubble, remember that when your civil servant types cannot afford a median priced home, the community and its inflated value is screwed. Civil servant types (cops, fireman, nurses, etc.) are the only ones with steady recession proof income. <br/><br/>An old trainee of mine says that some of the Sacramento suburbs and Mcmansions built there are looking more and more ghost town "ish". He has changed his business model and also now has 30 bank owned listings as an agent. This weekend he received 3 offers on 2 different properties. None were accepted as the "brain trust" decision makers on the bank's end saw it better to decline all 3 offers that were within 10k of listing (295k & 319k were the actual listing prices). They are now looking at at least another 60 days of holding costs! I wonder if any of them were in this business in the early through mid nineties? Is there a puppet master letting this become a longer, slower bleed?<br/><br/>Until these things pencil out for investors meaning - postive cash flow plus depreciation expense or someone can actually afford them (based on debt to income) on a traditional 30 yr poduct after 10 or 20% down, the ride down will continue. We are not imune in the OC, late 07 and all of 08 will be fun.<br/><br/>More schadenfreude to all who deserve it,<br/><br/>Socalappraiser Dr.,

Another appropriate article as to the state of things, and things to come. As far as the sheriff and the housing bubble, remember that when your civil servant types cannot afford a median priced home, the community and its inflated value is screwed. Civil servant types (cops, fireman, nurses, etc.) are the only ones with steady recession proof income.

An old trainee of mine says that some of the Sacramento suburbs and Mcmansions built there are looking more and more ghost town “ish”. He has changed his business model and also now has 30 bank owned listings as an agent. This weekend he received 3 offers on 2 different properties. None were accepted as the “brain trust” decision makers on the bank’s end saw it better to decline all 3 offers that were within 10k of listing (295k & 319k were the actual listing prices). They are now looking at at least another 60 days of holding costs! I wonder if any of them were in this business in the early through mid nineties? Is there a puppet master letting this become a longer, slower bleed?

Until these things pencil out for investors meaning - postive cash flow plus depreciation expense or someone can actually afford them (based on debt to income) on a traditional 30 yr poduct after 10 or 20% down, the ride down will continue. We are not imune in the OC, late 07 and all of 08 will be fun.

More schadenfreude to all who deserve it,

Socalappraiser

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