Comments on: Blast to the past http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/ Tracking the Arcadia and San Gabriel Valley Housing Market Sat, 31 Jul 2010 04:35:12 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Anonymous http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/comment-page-1/#comment-184687 Anonymous Sun, 08 Mar 2009 09:50:06 +0000 http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/#comment-184687 Democrats-Make housing available to the working poor and minorities. Christopher Dodd types-benefit from corruption. Carl Rove-Look the other way, poor become homeowners and vote republican. Republican Caucus-afraid of being called "racist". Solution: Let FNMA, FHLMC ect FAIL! Once they go down, they will take those responsible in Congress with them as they rat Barney Frank out. Anything else is throwing money down a rat hole. Democrats-Make housing available to the working poor and minorities.

Christopher Dodd types-benefit from corruption.

Carl Rove-Look the other way, poor become homeowners and vote republican.

Republican Caucus-afraid of being called “racist”.

Solution: Let FNMA, FHLMC ect FAIL! Once they go down, they will take those responsible in Congress with them as they rat Barney Frank out. Anything else is throwing money down a rat hole.

]]> By: Anonymous http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/comment-page-1/#comment-184674 Anonymous Sun, 08 Mar 2009 09:34:24 +0000 http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/#comment-184674 Is this Mike Is this Mike

]]> By: T K Eng http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/comment-page-1/#comment-2471 T K Eng Tue, 20 May 2008 06:21:56 +0000 http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/#comment-2471 Why on earth would anyone buy a property in this area for $900K? Looks like the seller in 2005 was able to legally rob the bank by getting a buyer to buy into the inflated price. I suspect maybe the seller and buyer simply split the $$$ after pocketing the ridiculous gain from the bank, then just turn around and let the bank eat the loss! These unfathomable transactions during the recent boom years simply wreak of FRAUD! You see it again and again in the foreclosure listings-properties burdened with mortgage debt easily 3-4 times or even higher than the actual value. Were the loan officers on drugs when they signed off on these loan documents? what about the Feds who were supposed to be regulating bank lending practices? Let's hope the proposed housing bailout will not make the rest of us reimburse the bank for losses caused by this type of reckless lending! Why on earth would anyone buy a property in this area for $900K? Looks like the seller in 2005 was able to legally rob the bank by getting a buyer to buy into the inflated price. I suspect maybe the seller and buyer simply split the $$$ after pocketing the ridiculous gain from the bank, then just turn around and let the bank eat the loss! These unfathomable transactions during the recent boom years simply wreak of FRAUD! You see it again and again in the foreclosure listings-properties burdened with mortgage debt easily 3-4 times or even higher than the actual value. Were the loan officers on drugs when they signed off on these loan documents? what about the Feds who were supposed to be regulating bank lending practices? Let’s hope the proposed housing bailout will not make the rest of us reimburse the bank for losses caused by this type of reckless lending!

]]> By: SparklingWater http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/comment-page-1/#comment-2468 SparklingWater Tue, 20 May 2008 03:07:58 +0000 http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/#comment-2468 Given the location of this house, the person who purchased this house for 900K should be sterilized for pure stupidity. Or maybe use that 900K for, I don't know, a brain transplant? I hate knowing that I'd be paying for their stupidity. On the other hand though, it's good to see such a huge correction. I've got an open question to those who may know. I've been looking up some properties on propertyshark.com and many of the houses do not list 1st, 2nd or 3rd mortgages eventhough the house has been sold for more than 6 months but less than 12 months - I highly doubt these homeowners paid cash for the houses. Is it simply because the site doesn't provide complete data? Given the location of this house, the person who purchased this house for 900K should be sterilized for pure stupidity. Or maybe use that 900K for, I don’t know, a brain transplant? I hate knowing that I’d be paying for their stupidity. On the other hand though, it’s good to see such a huge correction.

I’ve got an open question to those who may know. I’ve been looking up some properties on propertyshark.com and many of the houses do not list 1st, 2nd or 3rd mortgages eventhough the house
has been sold for more than 6 months but less than 12 months – I highly doubt these homeowners paid cash for the houses. Is it simply because the site doesn’t provide complete data?

]]> By: Headless Unicorn Guy http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/comment-page-1/#comment-2460 Headless Unicorn Guy Mon, 19 May 2008 18:00:46 +0000 http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/#comment-2460 Yes, Puckhead, it is in the El Monte school district. Rio Hondo Elementary (just on the other side of the flood control wash), Arroyo High School (next to the flood-control basin spillway a mile to the SW). I know this because I grew up only 500 feet from there, on Lynd Ave. I know the entire area well from years of riding my bicycle around that tract in the mid-Sixties. At the time (1958-1975) it was a mixed working/middle-class neighborhood, originally 1940s-vintage 900sqft/2BR/1BA single-story tract homes, many of which were being remodeled and expanded into 1400sqft/3BR/2BA with pools in the ample backyards. (Our back yard was well over 100 feet deep, butting up against the flooded-out quarry to the SE.) Not a bad neighborhood back then, just not ritzy like "Real Arcadia" to the north. But 2000 SQFT/4BR/2BA? With a front treatment -- windows, entry, arrangement -- that doesn't match anything I remember? Was this a "Santa Monica Remodel" (i.e. rebuild with just enough left intact to qualify as a remodel) into a McMansion? What you see of the house next door (the two-story stucco wall) DOES look like a McMansion. With a PURCHASE PRICE OF JUST SHY OF A MILLION? What good I remember of my childhood neighborhood has just been gang-reamed up the ass. DIE. YUPPIE. SCUM. Yes, Puckhead, it is in the El Monte school district. Rio Hondo Elementary (just on the other side of the flood control wash), Arroyo High School (next to the flood-control basin spillway a mile to the SW). I know this because I grew up only 500 feet from there, on Lynd Ave. I know the entire area well from years of riding my bicycle around that tract in the mid-Sixties.

At the time (1958-1975) it was a mixed working/middle-class neighborhood, originally 1940s-vintage 900sqft/2BR/1BA single-story tract homes, many of which were being remodeled and expanded into 1400sqft/3BR/2BA with pools in the ample backyards. (Our back yard was well over 100 feet deep, butting up against the flooded-out quarry to the SE.) Not a bad neighborhood back then, just not ritzy like “Real Arcadia” to the north.

But 2000 SQFT/4BR/2BA? With a front treatment — windows, entry, arrangement — that doesn’t match anything I remember? Was this a “Santa Monica Remodel” (i.e. rebuild with just enough left intact to qualify as a remodel) into a McMansion? What you see of the house next door (the two-story stucco wall) DOES look like a McMansion.

With a PURCHASE PRICE OF JUST SHY OF A MILLION?

What good I remember of my childhood neighborhood has just been gang-reamed up the ass.

DIE.
YUPPIE.
SCUM.

]]> By: missedthebubble http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/comment-page-1/#comment-2459 missedthebubble Mon, 19 May 2008 17:50:43 +0000 http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/#comment-2459 Keep these coming, with the lastest tomfoolery in FHA, etc. I love reading about the local market. Keep these coming, with the lastest tomfoolery in FHA, etc. I love reading about the local market.

]]> By: puckhead http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/comment-page-1/#comment-2458 puckhead Mon, 19 May 2008 16:57:23 +0000 http://www.arcadiahousingblog.com/2008/05/19/blast-to-the-past/#comment-2458 That address looks like it is part of the El Monte school district. Very poor district, you might as well send your kids to LAUSD. Let’s face it, the reason houses are expensive in Arcadia is because of the schools. Take away the Arcadia Unified District schools and you might as well live in Monrovia or Azusa. I can’t believe anyone would pay $750K to live in a bad neighborhood and El Monte schools. That address looks like it is part of the El Monte school district. Very poor district, you might as well send your kids to LAUSD. Let’s face it, the reason houses are expensive in Arcadia is because of the schools. Take away the Arcadia Unified District schools and you might as well live in Monrovia or Azusa. I can’t believe anyone would pay $750K to live in a bad neighborhood and El Monte schools.

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