May 13, 2008

Jump on the foreclosure bus! You'll see kids playing on roofs, homes that 'slope' and realtors saying anything to make 6%



Foreclosure bus tours like this hilarious one in housing crash California won't be total fun until they do one of former realtor homes though...

"Next stop will be Greg Swann's former home in Phoenix. After that we'll be looking at Kendra Todd's investment condos, and then a tour of the mothballed Trump units"

Now that's a tour I'd enjoy! Funny too that it's a "three hour tour". A three hour tour? A three hour tour? Hmmm... "The weather started getting rough, ... "

Thank Frank for the link..

A three-hour tour of foreclosed homes

The Foreclosure Bus took potential homebuyers and investors to several repossessed properties.

37 comments:

Frank@Scottsdale-Sucks.com said...

What about Suzanne's house? Oh, that'd be the 1-bedroom ghetto apartment walking distance to the strip club where she now earns her coke money.

Mister Alpine said...

I want to see Jose Cosenco's house. That place is gorgeous. Even as an REO you bitter renters will never be able to afford it. I also want to see Wesley Snipes' $8 million house in Alpine, New Jersey once the town foreclsoes on it due to the $70,000 he owes in back property taxes.

Anonymous said...

"Never" is a long time...

Give it a few years.

*Love* the crowing of the Apologists In Denial®

unhappy said...

Amazing how taxpayers are forced to back FHA loans for homes in fancy gated communities

bearmaster said...

Sure looks like it's foreigners who are sniffing out the foreclosures.

Oh well, nobody ever said foreign money was necessarily smart money.

tall tejano said...

They have a few of those in the Dallas area too.

the skipper said...

A three-hour tour? Wasn't that the SS Minnow? I have a feeling some of those people will be trapped in their debt island for a long, long time. GILLIGAN!!!!!!!!!

Anonymous said...

I'm waiting for the Compton foreclosure bus tour.

HB Slacker said...

The bearded realtor lender guy is lying by saying WE ARE NOW DOWN TO ABOUT 6 MONTHS OF INVENTORY.did Suzanne research this????
BS; desperate to make a commission Realtor Man; We are way over that I live in OC and inventory continues to pile up. I heard that we have over 10 months NATIONWIDE OF INVENTORY NOW AND OC IS MAJOR BUBBLICIOUS

Lady Di said...

I love the kid on the roof.

Classic.

wings said...

Delightful video!

It will only get tastier when these poor dupes buy the houses and then the prices get cut in half from there.

Ha, haaa!

LOCK"MUP said...

I want to see the california Department of corrections bus picking up the lying brokers and banksters that created this mess and heading north to Pelican Bay, with a few stops at Folsem and San Quentin. Thats the real estate those felons deserve.

MeatCleanUpCrewGuy said...

Orange County, CA the place where somebody jumps off a building every day and it is only 2nd page news. Guy jumps off the Disneyland Hotel, lady jumps off the Ameriquest Home Loan building, guy jumps off freeway, etc. etc.

Anonymous said...

Swanndive still has his home for sale how low will it go?!!

Anonymous said...

"I want to see Jose Cosenco's house. That place is gorgeous. Even as an REO you bitter renters will never be able to afford it."

Neirher will you -- you indebted fuck head!

michael said...

ahhh 6 month supply of under 300k homes and 18 month supply of over 500k homes.

more like an 18 month supply of under 200k homes. lol

what a donkey.

Anonymous said...

"Dude you need to get off the roof", best laugh of the day.

Good Realtor = DEAD Realtor said...

"It Not Wort Tit"

"Low or No Down Required".

"3 Million dollar view with some geological issues"

"Slopes to the street which makes you feel a little odd"

"Bank is trying to get out while they can" (WITH a $30K {or 1 year Scottsdale salary}mark up)

"Under $300K range being sold very quickly at sometime over the asking price"

Bury Yourself Today.

Step Righ UP.

Fucking RealWhores. You are all shit. Lower than rats. DIE

Underpayer said...

"more like an 18 month supply of under 200k homes. lol"

those in the $300K homes will wish they waited for better pickings!

Anonymous said...

So are there any Americans left in CA, or have they all moved to Oregon?

Stuck in So Pa said...

God! That was awesome! Thanks Keith! Laughing my butt off! I could pick apart that RealtWhore a$$hole, but I wouldn't know when to start.

And, OMG, a three million dollar home with "GEOLOGIC ISSUES!".......AND the bank is trying to turn a profit!

LMAO!

theloknesmonster said...

That was like Kramer's "Peterman Reality Tour"...

devestment said...

Can anyone imagine the torture of riding with that realtor couple for three hours?

I guess no one on that bus knows how to use the internet to find foreclosures, pre foreclosures, and REO’s.

If you’re going on one of those trips, do yourself a favor. About half way into it, start jumping up and down while screaming “ I am a retard”. Bring some chocolate pudding to smear on your face too.

I looked at a foreclosure the other day that had homeless living in it taking craps without the benefit of plumbing. It’s been in escrow three times but falls out because it won’t appraise. The bank won’t budge on the price because they feel THEIR BAILOUT is in the bag.

The appraisers are taking a lot of heat for this mess. Don’t expect to come in at your number any more. We have a real situation where prices are still too high, banks are ultra conservative, and appraisers are scared to death.

The knife is falling in slow motion as much of the surplus cash is depleted by high inflation and a poor employment outlook.

Anonymous said...

How much do you want to bet that the bus driver had to break out the Windex and towels afterwards. What a bunch of window-lickers! At least they were on the short bus!

JW Mtg said...

I know most of the REALTORS on the bus, and the Wells Fargo Loan Officer. (yes, I'm in the lending biz) They have to say these things otherwise they won't have any traffic.

My favorite line: "The bank bought it back for $660k and it's listed at $699k so they really want to get out from under it". No - if they wanted to get out from under it, they'd lower the price to $660k or less. It's people like this that screwed up this industry.

hardy har har said...

Kid wasn't on the roof in order to break in, by any means, was he?

hardy har har said...

This video is a good test of your "emotional IQ". The body language of the Asian guy says "I will resist all sales pitches". How many on the bus are really ready to pony up $1.2 M and how many are curiosity seekers?
The Realtors all have on their best poker faces (as soon as they get back to the office, they must howl with suppressed laughter, then start bawling).

hardy har har said...

Note the fine camera work. Everyone looks down at the soggy old newspapers as they enter the gate of the $500k and up dream property.

A cinema verite masterpiece!

Anonymous said...

one of those houses is casy serin's

Lost Cause said...

Yup, bubbles are for those taking a bath, or something like that.

Lost Cause said...

But how do you get rid of the meth-lab smell?

Vanilla Ice said...

"You'll need to get off the roof dude."

Who talks to people in that smug, arrogant, I'm the boss tone? Oh yeah, realtors. That kid should have jumped on the realtor's head.

And a mil for three stories of 2x4's and sheet rock? Come on.

Dr. Phil said...

I think the punk kid on the roof just got back from Juvie Hall to find his family had split town without his sorry ass and wanted to know if his meth stash was still hidden in his old room!

Parents should be understanding when they get a call from the police regarding their childrens mis adventures and at least leave a key under the door mat and a nice note to their incarcerated off spring explaining they are happy that the punk has made a professional decision which allows them to blow any college savings on a new personal water craft when the non indicted walk away from the social madness that is OC.

Anonymous said...

The banks aren't lowering, they are asking more. WTF?

Anonymous said...

"geological issues" and "the floor is sloping" and they expect someone to pay that much for it? sheesh.

Anonymous said...

My favorite line: "The bank bought it back for $660k and it's listed at $699k so they really want to get out from under it". No - if they wanted to get out from under it, they'd lower the price to $660k or less. It's people like this that screwed up this industry.

------------------------
It was more nuanced than that. She said "they really want to get out [PAUSE] while they can". I think she was going to say something else after the pause. Like:

1. "the equity" - and then she realized she should not be pushing built-in equity on the foreclosure bus tour.

2. "$39 thousand dollars" - but either she could not calculate the amount on the fly, or realized that sounds like "I made a hundred dollars in real estate".

Anonymous said...

I think he meant 6 months supply of just the foreclosures.