California, we have a problem. What happens when the whole neighborhood wants out (at the same time)?

June 16, 2007

California, we have a problem. What happens when the whole neighborhood wants out (at the same time)?

Found this over at piggington - neighborhood in Temecula.

Want a tip - get into the "For Sale" sign business...

And then here's just one of the homes for sale. Don't forget the "Wow!" factor.... he he he...

20 comments:

Frank R said...: Here in Newport Beach it's pretty funny. Drive past the entrance to any gated community on the weekend and there are literally dozens of open house signs posted around the gate.

Oh yeah, by the way, open house = last desperate attempt to sell by a desperate homedebtor and desperate ramen-eating realtwhore.

Dozens of for-sale signs is bad ... dozens of open house signs is disaster.; June 16, 2007 7:54 AM
Anonymous said...: Just wait until they all try to hop the fence to Mexico at the same time! Afterall, why has Bush just bought himself an asylum in Paraguay???; June 16, 2007 8:07 AM
Anonymous said...: Neighborhood HomeDebtor Ultimate Fighting Championships will be next; June 16, 2007 8:21 AM
Anonymous said...: 1.15 mil for a single story stucco ranch. Californians are nuts. All the houses in the video look identical.; June 16, 2007 10:19 AM
Anonymous said...: wow, seeing is believing isn't it? that neighbhorhood looks like so many across this land....is this a picture of things to come? i think it is. what we are viewing is the beginning of the end......will this nation become a land full of empty neglected unlived in houses, that should never have been built? i think it will. for i ask, who will live in them? who will buy them? who will rent them? the time will come when they are all empty and the only people living there will be squatters......and it will be worse than the 1929 crash......; June 16, 2007 2:11 PM
Anonymous said...: Anonymous said...
Neighborhood HomeDebtor Ultimate Fighting Championships will be next

June 16, 2007 7:21 AM

More like the Mel Gibson Road Warrior movies, where by the way, everyone's nomadic cause they've all fled their debt traps!; June 16, 2007 3:02 PM
AidanP said...: My Husband and I grew up there, sold in 2005 and headed to TX.

Our families are still there, Husbands latest Father in Law is a realtor (got his license in 05, um hi you missed the bus big guy) and you can see one of his signs in the video!

We are waiting patiently for his mom to call us looking for a place to stay, they currently owe about 1.6 MILLION on 4 houses and neither of them is producing an income. Living off the last $200,000 of "dead equity" they freed up last year.

I expressed grave concern for their behavior last year, and in response received the most condescending tone and answer ever "oh, honey that's sweet. We're fine, we have $200,000 in the bank"

Oh, the stories we all have to tell!; June 16, 2007 3:03 PM
Anonymous said...: Neighborhood HomeDebtor Ultimate Fighting Championships will be next

-------------------------------------------------
Hey, Keith says he's going to Vegas in the fall. He can have a sit down interview with Dana White on the housing market and whether there's any correlation to the growth of his sport? Any former realtors/mortgage brokers turned ultimate fighters? What about desperate homedebtors? Does he envision a vast minor league system setup in the stucco shack basements across America? Would he like to see the octagon join the stripper pole on every schoolyard playground by 2010?; June 16, 2007 3:33 PM
Anonymous said...: How appropriate that Pink Floyd's song repeatedly says "we don't need no education".....yep, we'll just flip for a living and retire at 30.

As far as the "wow factor".....I think they rattled off about every flipgrade you can put in for 10K and then charge 100K for doing so.; June 16, 2007 4:23 PM
Anonymous said...: Could not watch the first vid.
Second vid was a response to like-minded Long Islanders:
http://www.youtube.com/watch?v=-rLYph0J7vc

(Hard rock sound track alert); June 16, 2007 4:42 PM
Anonymous said...: i was listening to the radio and a old marvin gaye tune came on the radio. for this site and most people the name of this tune will have you howling for your racist inner-selves but...inner city blues came on and if you can get past your deeply ingrained disgust of the ghetto (ie: blinders) and listen to the words (as a matter of fact mercy mercy me as well as what's going on) you will hear the words said in 1970's of what is exactly happening today. not that mr. gaye was a prophet by any stretch (in case you immediately reject anything he has to say because he is/was black) but these were the tunes he wrote during the vietnam war. seems history does repeat itself, it's just that the people who get trapped in it are the one's who pay most dearly and of course most frequently.

and as far as that second house for a second i thought it was a different sound track put to this particular house because they weren't matching and than i got it. putting lipstick on a pig.

i hope most people aren't thinking that they are immune to what is going on(thanks marvin)and think they have insulated themselves from these issues. more and more words that should make most people shutter such as illuminati, the world bank, new world order and Condolezza Rice expressing that the middle east is going through birth pains are showing up in main stream media. none of those people like you white, black, brown or yellow. you should be worried that you will be under the control of a middle eastern country and not Asia for the less astute geography students. and you will not be worshipshiping the dollar as most of you do now, but the euro. when they introduced that money that worried me then and i worry about it even more now.

better watch the signs around you and get your self centered heads out of the sand. ADIOS, CIAO, SAYONARA, BE CHECKIN WIT YA LATER, GOODBYE, VIA CON DIOS.; June 16, 2007 5:55 PM
Anonymous said...: I wonder if those fliptards and realtrolls have any money left to invest in the booming stock market; June 16, 2007 5:56 PM
Anonymous said...: I'm setting up a suicide revolver shop in Riverside. Business should pick up exponentially as buyers realize they committed financial suicide already by buying a bubble house.

Hey, just trying to serve my fellow man.; June 16, 2007 5:56 PM
Anonymous said...: One of the disadvantages of real estate as an investment is that it is illiquid. If you buy into a subdivision where the developer is still building, that disadvantage is magnified many times over, because if you need to sell right away, you are selling a used house in competition with the builder who is selling a new house. Add to this mix a tidal wave of ARM re-sets, flippers in trouble, and foreclosures, and you have an agglomeration of personal and family hardships adding up to a community-wide disasater.; June 16, 2007 6:22 PM
Anonymous said...: Somebody asked who is going to live in these homes.

Answer: Illegal aliens. With amnesty for them, and their families, there will be 50 million illiterate primates DEMANDING their housing "rights" in the land of prosperity, so the gov't will just put them up in these houses. Hey why not?

Illegals have been buying $600,000 houses in LA for years now; they pack 30 to a home.

I love it!; June 16, 2007 7:40 PM
Anonymous said...: The American Dream is to get amnesty, FHA/HUD housing and go on the government dole for the next 50 years. Fcuk the government; June 17, 2007 12:49 AM
Anonymous said...: had some time on my hands so I drove through two new condo complexes. Across the street from each other they've been move in ready for just over a year.
God honest truth; one of them, about 30 units, NOT ONE INHABITED CONDO. One car in the whole complex, in front of the open house model. Across the street at the 70 unit complex, 8 cars in the whole place! Now, they do have a tiny single car garage, but here;s the deal; I drove the whole complex. The asphalt is some sticky stuff. I drove around again and checked the cement entrances to the garages. Only 5 in the whole place had ever had a car pull into them!
I'm in AZ. God honest truth.
Here's the big kicker; the smaller complex streats at 'low 300's'. A single family home across the street sells for 250k and has a three car garage and pool. What is owner of these complexes up to? I can't figure it out.; June 17, 2007 6:14 AM
Anonymous said...: 2/3 of homes for sale in Salinas per the Yahoo real estate site are forclosures.

Coming to a town near you soon!; June 17, 2007 9:54 AM
Anonymous said...: This is not a sign of things to come ... it is already here, and getting even worse as foreclosures sweep the country.

The sad part is, even before the housing bubble burst, many homes were empty most of the time and
certainly not lived in.

Anonymous said...
wow, seeing is believing isn't it? that neighbhorhood looks like so many across this land....is this a picture of things to come? i think it is. what we are viewing is the beginning of the end......will this nation become a land full of empty neglected unlived in houses, that should never have been built? i think it will. for i ask, who will live in them? who will buy them? who will rent them? the time will come when they are all empty and the only people living there will be squatters......and it will be worse than the 192; June 18, 2007 4:50 AM
Adam said...: Anon said:

wow, seeing is believing isn't it? that neighbhorhood looks like so many across this land....is this a picture of things to come? i think it is. what we are viewing is the beginning of the end......will this nation become a land full of empty neglected unlived in houses, that should never have been built? i think it will. for i ask, who will live in them? who will buy them? who will rent them? the time will come when they are all empty and the only people living there will be squatters.......

WOW! Now I'm as bearish as anyone here, but let's not lose perspective: notice that video showing "for sale" signs is not a single street, so any fool could've taken individual footage and spliced it together. That's as fallacious and intellectually dishonest as some of the lies an ethically-challenged real estate agent might tell. Don't stoop to THAT level.

I strongly doubt that is properly indicative of the current market in Temecula (which is a bedroom community an hour North of San Diego). Don't get me wrong, it's correcting there, as an exurb of S.D., and there's many homes for sale (as elsewhere in Southern California), but let's not get too overblown here.

No, let's save the drama for when it's really for real: just wait until interest rates skyrocket (starting to happen), the ARM resets start slamming over-leveraged buyers who couldn't afford their homes in the first place (check), and the stock market starts to tremble. THEN the shitz will really be hitting the fan!; June 18, 2007 5:59 PM