Prices Going as Predicted...

Here is an update on 10520 Highway 26, which we highlighted in the Leviathan article and stated that "I shall prognosticate that we can get this cheaper." Well the magic crystal says, "Cheaper Still".

The history stacks up like this:

1. Sold 01/20/2006: $425,000


2. Foreclosed and marketed at 03/05/2007: $348,900


3. 3/22/07 Reduced because the reality check bounced: $343,900

Let's see how low it goes. So far, the crystal is right on track. Can't be any worse than listening to the NAR and their predictions. Go magic crystal, go!

Leviathan Spotted in Calaveras...

Here is a quick profile on a Calaveras casualty of the foreclosure leviathan that is being unleashed from his pit of debt-driven darkness. Sorry, that is a little dramatic - I will keep it brief and pithy.

This 3 by 2-er sold in January of 2006 for $425k; it is 1216 sq. feet. That is $350 per sq. foot. Yes, it sits on 6.8 acres, but my goodness, that's a plenty heap-a-cash to live out in Moke-Hill. Sorry, no image on this one.

10520 Highway 26 Sold 01/20/2006: $425,000

I shall prognosticate that we can get this cheaper. Let me rub the magic crystal and presto...ooh, much cheaper!

Currently on the market (FC) for $348,900. But, something tells me it may go for less.

Update on HEINEMANN...

As first reported back in February in my article Going Down in the Valley, there was a profiled foreclosure property in Valley Springs in which the lender was going to lose approximately $83,233.00 if sold at their current asking price.

As predicted, the asking price was still a bit too high and apparently the lender agrees with me.

Currently, the HEINEMANN property, which I have officially dubbed "The Roof", has been discounted another $4,000.00 - down to $234,000. Which of course means that the lender can add $4k to its burden of bad debt - the equivalent of one employee's salary for the month. Ouch!

Yeah, that unparalleled housing boom and unprecedented growth in non-doc lending practices was great for everybody.