Remember how important it was to hurry up and go out and blow your future possible earnings on a piece of dirt and some wood and nails called real estate? "You better hurry! If you don't buy now, you may never be able to afford a home!" Oh, how the sheep moaned.
At the time, I was amazed that so many people were making so much money and that they could afford these monstrosities. I kept thinking, "what am I doing wrong? I work hard and make decent dough - what's up with this?" It never crossed my mind that people would not only buy something that they couldn't afford, but that lenders would give them the cash to do it.
It almost hurts to post this stuff.
Well here is another one that will be heading to the auction block soon. If anybody shows up, bid low! Here is the description and the most recent price that they were looking to fetch:
And here is the TS notice that goes with it. Notice the date of the "deed of trust". This means that this guy stopped making payments somewhere around January or February - just over 5 months after he bought it. Ouch!
So, if this place goes for the $149 per sq. foot that the Charmstone Way house went for, I would imagine that someone could move into this pad for about $375k or so. Somehow, I am betting on a low ball bidder and a desperate lender that has one too many credit swaps and not enough cash to cover their soon to be screaming creditors.
At the time, I was amazed that so many people were making so much money and that they could afford these monstrosities. I kept thinking, "what am I doing wrong? I work hard and make decent dough - what's up with this?" It never crossed my mind that people would not only buy something that they couldn't afford, but that lenders would give them the cash to do it.
It almost hurts to post this stuff.
Well here is another one that will be heading to the auction block soon. If anybody shows up, bid low! Here is the description and the most recent price that they were looking to fetch:
10515 Ridgecrest Drive, Jackson, CA $629,000
One of the most desirable neighborhoods in Jackson - Perfect family home - Huge master suite on main level and 3 nice sized bedrooms downstairs - Great view of valley off covered porch and kitchen. Stainless steel appliances and cherry wood cabinets in kitchen. Nice home!
And here is the TS notice that goes with it. Notice the date of the "deed of trust". This means that this guy stopped making payments somewhere around January or February - just over 5 months after he bought it. Ouch!
PUBLIC NOTICE NOTICE OF TRUSTEE'S SALE TS No. 07-21584 Doc ID #000732569942005N Title Order No. 3340044 Investor/Insurer No. 1103611456 APN No. 044-440-006-000 YOU ARE IN DEFAULT UNDER A DEED OF TRUST, DATED 08/17/2006...will sell on 09/18/2007 at 12:00PM, At the main entrance to the Amador County Courthouse located at 500 Argonaut Lane, Jackson, California. The street address and other common designation, if any, of the real property described above is purported to be: 10515 RIDGECREST DRIVE, JACKSON, CA, 95642. The total amount of the unpaid balance with interest thereon of the obligation secured by the property to be sold plus reasonable estimated costs, expenses and advances at the time of the initial publication of the Notice of Sale is 484,287.25.
No comments:
Post a Comment