tag:blogger.com,1999:blog-22535876.post115670994370900273..comments2023-10-20T07:59:45.124-07:00Comments on Sonoma Housing Bubble : Ssshh! The Show is Starting...Athenahttp://www.blogger.com/profile/15944962059749126687noreply@blogger.comBlogger26125tag:blogger.com,1999:blog-22535876.post-49029587532104136792007-11-15T12:21:00.000-08:002007-11-15T12:21:00.000-08:00Sonoma median price drops to 473K per DQNews.Back ...Sonoma median price drops to 473K per DQNews.<BR/>Back to October 2003 levels folks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22535876.post-24703581623643809922007-11-13T21:31:00.000-08:002007-11-13T21:31:00.000-08:00Something is rotten in Sonoma. My favorite family...Something is rotten in Sonoma. My favorite family, the Carnes, sold their $1M home. HOW?!! What is stranger is that Zillow says they purchased another home for $640K, but the assessor has 'Net assessment' at $280,698. <BR/><BR/>Is something dirty going on here?<BR/>APN 161-410-040-000<BR/>1086 Elsbree Ln, Windsor CA 95492 <BR/><BR/>Info is also at my blog.Tyronehttps://www.blogger.com/profile/04226876002855072090noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-29108461228116568832007-11-09T16:37:00.000-08:002007-11-09T16:37:00.000-08:00I made a list of some of the Santa Rosa properties...I made a list of some of the Santa Rosa properties on the market asking for less than their peak price (including at least one 35%/$216K discount).<BR/><BR/>http://outatthepeak.blogspot.comOut at the peakhttps://www.blogger.com/profile/10855394670202295976noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-81801816895310847402007-11-01T13:50:00.000-07:002007-11-01T13:50:00.000-07:00Yes, the piper must be paid.And that means biting ...Yes, the piper must be paid.<BR/><BR/>And that means biting the bullet on the losses.<BR/><BR/>On my site, this month I have free audio files from an anonymous real estate agent who has a lot to say about Short Sales and the mess we're in.<BR/><BR/>www.AnonRecordings.comBaghead.of.anonrecordings.comhttps://www.blogger.com/profile/13998951839381104338noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-24395187314518479462007-11-01T11:19:00.000-07:002007-11-01T11:19:00.000-07:00In case you haven't seen this:"Attorney General An...In case you haven't seen this:<BR/><BR/>"Attorney General Andrew M. Cuomo today announced that <A HREF="http://tinyurl.com/37cm8l" REL="nofollow">he is suing one of the nation’s largest real estate appraisal management companies</A> and its parent corporation for colluding with the largest savings and loan in the country to inflate the appraisal values of homes."<BR/><BR/>I'll wager this is just the beginning of litigation for appraisal fraud.marine_explorerhttps://www.blogger.com/profile/03092782038855356359noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-91475714399780889342007-10-29T10:16:00.000-07:002007-10-29T10:16:00.000-07:00My votes:1106 Gaddis, 3/3, 2196 sqft in the JC. Cu...My votes:<BR/><BR/>1106 Gaddis, 3/3, 2196 sqft in the JC. Current listing price is ... $490k<BR/><BR/>An identical in same development sold for $721k in 2006<BR/><BR/>530 Green Ct. 3/2, 1635 sqft, large lot. Currently at $515k. Was listed at $695 two years ago by former owner.<BR/><BR/>i.e. 25-30% drops on comps from two years ago are now common (and the houses aren't selling even at those prices).<BR/><BR/>If you're buying here, wait. The foreclosures are mounting and will eventually frighten the FB sham sellers who refuse to "give their house away" into submission.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22535876.post-80431474660649139162007-10-27T21:59:00.000-07:002007-10-27T21:59:00.000-07:00Prices are screaming downward!Here's a good exampl...Prices are screaming downward!<BR/><BR/>Here's a good example:<BR/>2791 MCBRIDE LN #154, Santa Rosa<BR/>Bedrooms: 3 <BR/>Full Baths: 2 <BR/>Partial Baths: 1 <BR/>Square Feet: 1,324 <BR/><BR/>List Price: $300,000<BR/><BR/>Sale History <BR/>03/16/2005: $385,000 <BR/>09/19/2003: $280,000 <BR/><BR/>It will probably crash below the 2003 price. It'll be a decent starter home when the price comes down.Tyronehttps://www.blogger.com/profile/04226876002855072090noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-54497833554651587962007-10-24T13:29:00.000-07:002007-10-24T13:29:00.000-07:00Dataquest just released the Sept numbers:http://ww...Dataquest just released the Sept numbers:<BR/><BR/>http://www.dqnews.com/ZIPCAR.shtm<BR/><BR/>Median price of SR homes/condos is down 20% since May 2006! ($536k -> $425k). Funny, no article about that in the Press Democrat :^)<BR/><BR/>Huge drop ($50k) from 8/2007 to 9/2007, but still 125 sales in 9/2007 so this isn't a weird outlier like you see in data for small towns.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22535876.post-59279065539161856922007-10-21T09:32:00.000-07:002007-10-21T09:32:00.000-07:00Mr. Nunez is going to have bigger problems. He pu...Mr. Nunez is going to have bigger problems. He purchased 3 homes in this manner--interest only. At least he practiced what he preached; but now he's going to learn a valuable life lesson.Tyronehttps://www.blogger.com/profile/04226876002855072090noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-27985617161323430682007-10-20T17:58:00.000-07:002007-10-20T17:58:00.000-07:00Chris Nunez, has put his $1M home, financed using ...<I>Chris Nunez, has put his $1M home, financed using an interest-only loan</I><BR/><BR/>In a real world, that turreted eyesore wouldn't clear half that listing price. Ahem, so this "realtor," is trying to sell <B>now</B>? Well, I'm <B>not</B> a realtor, but I easily pegged the market peak in Fall 2005. This will be a costly education for this guy.marine_explorerhttps://www.blogger.com/profile/03092782038855356359noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-27077279725136757082007-10-20T09:23:00.000-07:002007-10-20T09:23:00.000-07:00Sorry; gave the wrong link the Nunez listing:http:...Sorry; gave the wrong link the Nunez listing:<BR/>http://tinyurl.com/yuzx8oTyronehttps://www.blogger.com/profile/04226876002855072090noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-56930304257545796832007-10-19T16:27:00.000-07:002007-10-19T16:27:00.000-07:00This comment has been removed by a blog administrator.lindahttps://www.blogger.com/profile/01596914541246252642noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-71975965428548473902007-10-19T16:09:00.000-07:002007-10-19T16:09:00.000-07:00This comment has been removed by a blog administrator.lindahttps://www.blogger.com/profile/01596914541246252642noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-13391575684938549602007-09-30T22:09:00.000-07:002007-09-30T22:09:00.000-07:00There is a god!!!Or perhaps it's just karma. My f...<B>There is a god!!!</B><BR/><BR/>Or perhaps it's just karma. My favorite Santa Rosa realtor, Chris Nunez, has put his $1M home, financed using an interest-only loan, on the market.<BR/>Listing: http://tinyurl.com/2wp82s<BR/><BR/>Sonoma Roll:<BR/>Parcel Number <BR/>173-430-022-000 NUNEZ CHRIS <BR/>Price paid: $1,061,312<BR/><BR/>3646 Bellagio Ct<BR/>Santa Rosa, CA, 95404<BR/>5 Ba: 5 3761 sqft.<BR/>MLS#: 20730428<BR/>Price: $1,230,000<BR/><BR/>This guy convinced many people into "buying" through interest-only loans. In the PBS video he says, "It's still a little surreal here when I come out here and hang out. I just, I think a lot of times, how did I pull it off?"<BR/><BR/>YOU DIDN'T!! BACK TO SAFEWAY!!Tyronehttps://www.blogger.com/profile/04226876002855072090noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-37524907401269364502007-09-29T17:13:00.000-07:002007-09-29T17:13:00.000-07:00Last night, PBS ran an hour segment on the '29 sto...Last night, PBS ran an <A HREF="http://www.pbs.org/wgbh/amex/crash/" REL="nofollow">hour segment on the '29 stock collapse</A>. It's interesting timing to say the least. Despite Wall St's assertion it can't happen again, there are some interesting parallels to our current "house investor" fiasco. A similar psychology pervaded the late '20s, when small-time investors overleveraged to get into the market. Does that sound familiar to anyone? So was the banker's last ditch attempt to save the market with infusions of liquidity. It didn't work then...will it work now?marine_explorerhttps://www.blogger.com/profile/03092782038855356359noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-21407786089272947982007-09-25T20:30:00.000-07:002007-09-25T20:30:00.000-07:00We've dipped slightly below 1700 on the ZipRealty ...We've dipped slightly below 1700 on the ZipRealty listings. In general, I'm seeing lower prices for listings. A lot are listing from $200K-$300K, but not this one--<B>holy cow!!</B> Seriously, this home shouldn't sell for more than $225K in this market.<BR/><BR/>1819 MIDWAY DR<BR/>2bed/1bath<BR/>List Price: $439,000<BR/>ZESTIMATE™: $537,778 <B>On crack?</B><BR/>Sale History <BR/>09/30/2003:<B> $681,818 typo?</B><BR/>12/15/1998: $185,000Tyronehttps://www.blogger.com/profile/04226876002855072090noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-63623143942793448992007-09-21T12:19:00.000-07:002007-09-21T12:19:00.000-07:00Some of my favorite comments in MLS listings from ...Some of my favorite comments in MLS listings from out realtor whore friends:<BR/><BR/>2234 Cummings Dr.<BR/><BR/>Just Reduced 9/4/07. This home qualifies for a CHFA loan. This is not a short sale.<BR/><BR/>translation: Try getting a $500k CHFA loan for a low income deadbeats and we'll sell this falling knife to you in a heartbeat - hahhahhah.<BR/><BR/>507 Alderbrook<BR/><BR/>Great neighborhood. Unfinished remodel. No reports obtained yet.<BR/><BR/>translation: repo with exposed chicken wire in the exterior walls!<BR/><BR/>165 Sherwood Dr<BR/><BR/>One of Santa Rosa's finest! Wonderful opportunity to live in the classic northeast neighborhood of Sherwood Forest. This 3 bedroom 2 full bath home has been completely refurbished.<BR/><BR/>translation: $100k attempted flip on a 2/2007 purchase. Please lord, make it 2005 again. Look into my eyes and ignore the comps in the neighborhood for equally tiny houses on tiny lots that are priced at $100K lessAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-22535876.post-45476876504947162282007-09-21T12:01:00.000-07:002007-09-21T12:01:00.000-07:00"Tyrone-Est™: $350,000"Love that! ******Thanks for..."Tyrone-Est™: $350,000"<BR/><BR/>Love that! <BR/><BR/>******<BR/><BR/>Thanks for all of your work here, athena and moonvalley.<BR/><BR/>BTW - are you working on a script? How's it coming along?<BR/><BR/>And thanks for your contributions, too, tom stone.sf jackhttps://www.blogger.com/profile/03447317646441624382noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-45211155071128489862007-09-20T21:10:00.000-07:002007-09-20T21:10:00.000-07:00ZipRealty Santa Rosa homes:Aug 09: 1600Aug 21: 164...ZipRealty Santa Rosa homes:<BR/>Aug 09: 1600<BR/>Aug 21: 1643<BR/>Aug 27: 1670<BR/>Aug 31: 1642<BR/>Sep 01: 1624 <BR/>Sep 10: 1679 <BR/>Sep 14: 1697 <BR/>Sep 19: 1700 <BR/>Sep 20: 1711 <B>Up, Up, and Away!!</B><BR/><BR/>Here's a beauty:<BR/>4726 Winding Creek Ave <BR/>List Price: $699,950<BR/>ZESTIMATE™: $606,629<BR/>Tyrone-Est™: $350,000 <BR/><BR/>Sale History <BR/>06/12/2002: $443,000 <BR/>03/19/1999: $300,000Tyronehttps://www.blogger.com/profile/04226876002855072090noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-1509545939175340562007-09-20T13:47:00.000-07:002007-09-20T13:47:00.000-07:00This comment has been removed by a blog administrator.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22535876.post-19200209513038461702007-09-19T20:52:00.000-07:002007-09-19T20:52:00.000-07:00ZipRealty Santa Rosa homes:Aug 09: 1600Aug 21: 164...ZipRealty Santa Rosa homes:<BR/>Aug 09: 1600<BR/>Aug 21: 1643<BR/>Aug 27: 1670<BR/>Aug 31: 1642<BR/>Sep 01: 1624 <BR/>Sep 10: 1679 <BR/>Sep 14: 1697 <BR/>Sep 19: <B>1700 New High!!</B><BR/><BR/>And here's a 2bed/1bath gem:<BR/>930 EMMY LOU CT<BR/>List Price: $299,500<BR/>ZESTIMATE™: $406,542 <BR/>Tyrone-Est: $170,000<BR/><BR/>Sale History <BR/>01/19/2005: $360,000 <BR/>08/12/2003: $275,000 <BR/>01/09/1997: $42,500Tyronehttps://www.blogger.com/profile/04226876002855072090noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-19873952627200514572007-09-16T17:55:00.000-07:002007-09-16T17:55:00.000-07:00From the Housing Bubble:The Press Democrat reports...From the Housing Bubble:<BR/>The Press Democrat reports from California. “Sonoma County’s housing slide hit the two-year mark in August as prices fell yet again, and the market may not hit bottom for another year, industry analysts say. The county’s typical home sold for $549,990 in August, the 14th consecutive month the price was down from a year earlier. Prices have dropped 11.1 percent from the record high of $619,000 in August 2005.”<BR/><BR/>http://tinyurl.com/2mepq5Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22535876.post-29121078744945944892007-09-15T14:51:00.000-07:002007-09-15T14:51:00.000-07:00Athena,good to see you posting again.as far as pri...Athena,good to see you posting again.as far as prices,there are probably some some houses with solid gold bidet's spouting Iron Horse champagne...but most are like the 2 acre non view lot down my street listed for $460k.It might have brought $320k at the peak.maybe.Inventory in west county is increasing rapidly,there are some sales,but prices need to drop by %50 plus to be affordable.I expect the drops to be jagged and the social costs very high.do you still want the info on 660 e macarthur? the paper is yellowing with age?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22535876.post-56594490333693003542007-09-14T20:16:00.000-07:002007-09-14T20:16:00.000-07:00ZipRealty Santa Rosa homes:Aug 09: 1600Aug 21: 164...ZipRealty Santa Rosa homes:<BR/>Aug 09: 1600<BR/>Aug 21: 1643<BR/>Aug 24: 1655<BR/>Aug 26: 1659<BR/>Aug 27: 1670<BR/>Aug 31: 1642<BR/>Sep 01: 1624 <BR/>Sep 10: 1679 <BR/>Sep 11: 1692 <BR/>Sep 14: 1697 New High!!!!<BR/><BR/>Darn! 3 short.<BR/><BR/>Looking at this home, I kinda like it, but not the price:<BR/>157 VALLEY LAKES DR<BR/>List Price: $875,000<BR/>Sale History <BR/>06/16/2006: $616,000 <BR/><BR/>Zillow estimate: $652K<BR/>Tyrone estimate: $350KTyronehttps://www.blogger.com/profile/04226876002855072090noreply@blogger.comtag:blogger.com,1999:blog-22535876.post-28905497845344911262007-09-14T16:02:00.000-07:002007-09-14T16:02:00.000-07:00You know what ME? I can't even find the numbers f...You know what ME? I can't even find the numbers for the 2006 loans. I think they are keeping those numbers mum for a reason.<BR/><BR/>As for the $1000 per sqft. YES! Unbelievably, Sonoma County is still sipping on the last few drops of kool-aid in their cups. Seriously, you can go to the grocery store and smell the desperation on the realtwhores chatting in the aisles, but each seller seems to think their house is different.<BR/><BR/>Take a look at the chitholes on the market on zip asking for top dollar. Or look at Craig's list at the specuvestors who can't afford their payments and are trying to stop the bleeding from their financial bullet wound by renting their alligator out. Properties are sitting with their wishing prices for rents and selling prices for and the numbers keep piling up.<BR/><BR/>Like I said... we are just at the beginning of this ball game. We haven't even seen anything more than the parade of players out of the dugouts and just warming up.<BR/><BR/>Sonoma County had a big chunk of Alt-A and Prime borrowers during 2000-2005. Many of them have 5 year resets coming... so the first wave for us comes in 2008, second and slightly larger in 2009, and then the big chunk from data to date is in 2010. I think some of those will throw in the towel when by year end 2008 property values take a hit and those who haven't refinanced yet will know they won't be able to... this is just the warm up innings.Athenahttps://www.blogger.com/profile/15944962059749126687noreply@blogger.com