New TSAs...

A few new Trustee Sale Announcements today with some sleuthful commentary. All announcements courtesy of the Ledger Dispatch.

PUBLIC NOTICE NOTICE OF TRUSTEE'S SALE TS # CA-07-110924-JB
940 Carbondale Rd Ione, CA 95640
Notice of Sale: $267,153.38
Date of Sale: 2/28/2008

PUBLIC NOTICE TSG No.: 2866068
15031 Maranatha Way , Sutter Creek, CA 95685
Notice of Sale: $221,661.03
Date of Sale: 2/28/2008

PUBLIC NOTICE NOTICE OF TRUSTEE'S SALE TSG No.: 3504915
16050 Meadow Lark Lane, Sutter Creek, CA 95685
Date of Sale: 2/28/2008
Notice of Sale is: $567,555.33
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The place on Meadow Lark Lane in Sutter Creek has an interesting background and fairly recent history. According to Amador WhoBoughtWhat, this place was most recently purchased less than a year ago for $680k. Wow, now that is a bust and a half at lightning speed!

Consider that someone approximately 10 months ago actually negotiated a deal to purchase a home in which they are currently in default. 10 months!

Apparently, they thought they were getting a deal at the time by paying $680k, since the previous owner had purchased it 2 years earlier for $715k. Ouch!

Check out the history at: 2BD in Sutter Creek sells for $680K

Walking Away...

Wow, I never thought that I would see the day that "walking away" from a mortgage would be a profitable business. CNN Money does not offer much in the way of a positive picture with this running as their lead.


There are more and more reports about people that have a new perspective on their homes/mortgages. It is a new paradigm in which the old guard at BofA, Wells Fargo, Citi and a host of others were taken completely unaware.

The new mortgage culture does not see their debt as a moral obligation, but instead sees their mortgage as nothing less than a business transaction. This is confusing for the golden parachute crowd in that for the first time in American history, the consumer shares their same viewpoint. It puts a major monkey wrench about the size of a gorilla in the cogs at the mortgage servicing factory and is wreaking mass havoc at the top.

Basically, the new "walk-away" culture says to themselves, "Why should I continue to pay for an increasing monthly mortgage amount on a depreciating piece of property/real estate?" They see it as a business transaction - if a business is losing money in a certain sector of their market, they shut the doors. Corporations don't feel a moral obligation to continue to pay for things or people that do not perform, therefore, why should the mortgagee?

Interesting question - we will touch on that more later, but here is a new company that apparently is doing very well that counsels people whether they should walk away or they should stick it out. Wow. No, this is not a joke.



Here is the link for the new company: You Walk Away

Serving Others Brings a Smile...

With all of the bad news in the media concerning real estate, the economy and a myriad of other issues, I thought that this article in the Amador Ledger Dispatch touched on something that many in this nation have forgotten about - serving others. I have always found it is a blessing to be able to sacrifice time and resources in order to help those that need it. Thank God we still have those that feel the same.

'Smiles For Kids'

Jackson Creek Dental Group hosted its 23rd Annual "Smiles For Kids" day at their office on the corner of French Bar Road and Highway 49. Part of the California Dental Association's "Give Kids a Smile" program, it offers free dental care to kids without dental insurance. Sandy Garcia, Jackson Creek Dental Group's coordinator/marketing manager, said the dental office served 55 children last year, up from 28 children in 2006.

More Taxes...

The general idea of government is fairly consistent: when revenues increase (like when a boom in housing brings in more taxes) create new expenditures in order to burn through this new surplus. But, when revenues decrease, the opposite does not occur - the budgets rarely get cut. Instead new "fees" (taxes) are created to fill the gap because of the shortfall.

The Calaveras Enterprise is reporting one of these increases that California is planning for all current homeowners. The idea is that they cannot count on taxes coming through your property tax, because...well, your homes are depreciating and there are so many vacancies now that they are not reaping the harvest that they used to. So, instead of trying to budget appropriately like any common citizen would do, they need to increase revenue in order to cover their mismanagement.

They know that they cannot raise your property tax - many people are fighting the current valuations that the county has assessed in this depreciating market. But, they figure the best way to collect on a large scale would be to insert a fee or "surcharge" - not on the value of your home - but on your insurance policy. That way they will be sure to get it.

Leave it to California politicians to increase the tax on your house, without increasing the tax on your house.

Nice - here is the link. Calaveras Enterprise: Governor proposes new Cal Fire fee for 2008-09

What are the odds...

Is this some country or what? Why are we spending billions (potentially trillions) in Iraq to bring them freedom and democracy when in the end it appears that the will of the people don't matter anyway and can be stifled through litigation and financial arm-twisting?

The Ledger-Dispatch is reporting that all of you who thought this issue was laid to rest when you cast your vote are just a bunch of flag-waving sheep. This is sick.

From the Ledger-Dispatch (Full Article):

In 2005 Amador County residents voted against a second Indian casino in the county by a resounding 85 percent.

But now the county board of supervisors is asking the populace to carefully reconsider the issue. They have scheduled six public workshops to consider whether the casino should be allowed to go forward.

New Trustee Sale Announcements...

Just a quick list of soon to be REOs recently published in the Ledger Dispatch here in Jackson, California. The courthouse steps are rather busy - I predict this will continue throughout 2008.

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PUBLIC NOTICE NOTICE OF TRUSTEE'S SALE Trustee Sale No.: 45078
213 K New York Ranch Road, Jackson, California 95642
WILL SELL AT PUBLIC AUCTION TO THE HIGHEST BIDDER FOR CASH
$229,319.17
Date of Sale: 02/08/2008

PUBLIC NOTICE NOTICE OF TRUSTEE'S SALE TSG No.: 3464718
16622 South Madrone Court, Pioneer, CA 95666
Notice of Sale is $282,314.88
Date of Sale: 02/14/2008

PUBLIC NOTICE NOTICE OF TRUSTEE'S SALE TS No. 07-50256 Title Order No. 3488020
Date of Sale: 02/13/2008
23082 RODEN LANE, PIONEER, CA, 95666
Notice of Sale is $405,909.99

NOTICE OF TRUSTEE'S SALE Trustee Sale #CA0813672
Date of Sale: 02/14/2008
445 PRESTON AVE, IONE, CA 95640
Notice of Trustee's Sale is: $288,987.56

PUBLIC NOTICE NOTICE OF TRUSTEE'S SALE T.S. No. GM-108171-C
Date of Sale: 2/15/2008
424 PRESTON AVENUE IONE, CA 95640-0000
$218,613.82

PUBLIC NOTICE NOTICE OF TRUSTEE'S SALE Trustee Sale No. 0710258JV
Date of Sale: 2-19-08
219 South Church Street, IONE, CA
$240,717.99

PUBLIC NOTICE TS# 3466.127
Date of Sale: February 15, 2008
1400 W. MARLETTE STREET, SPACE 12, IONE, CALIFORNIA 95640
(No price listed)

PUBLIC NOTICE BRS# 303307 TSG# 90-6946
Date of Sale: 2/19/2008
19095 PINE DRIVE EAST PIONEER, CA 95666
$135,492.02

NOTICE OF TRUSTEE'S SALE T.S. No: A345746
Date of Sale: FEBRUARY 7, 2008
311 S. CHURCH STREET, IONE, CA 95640
$52,468.39

NOTICE OF TRUSTEE'S SALE TSG No.: 3464718
Date of Sale: 02/14/2008
16622 South Madrone Court, Pioneer, CA 95666
$282,314.88

CA's Housing...Least Affordable

I have one word about this headline, "DUH!!!!!!!!!!!!!"

Those that live here in the land of glittering dreams that make under $100k know that. To quote a famous gray and white beast of the order of Lagomorpha, "What a moroon!"

Here is the article (a little late, I know): California’s Housing Remains Nation’s Least Affordable

This one made me laugh; what a load of dung! This guy is towing the corporate line…"let's try not to cause panic by telling a complete falsehood and see if we can turn this thing around through marketing to sheep". Ridiculous!

He states, “…affordability has not increased despite a housing downturn that has lasted over a year is ample proof that prices aren’t likely to drop significantly…” Oh boy, where do I start? You can’t imply that because affordability has not increased that prices are not going to drop; all that it means is that the prices are still too high and the correction isn’t anywhere near finished. Hello! Don't be a simpleton.

While this guy is coolly finishing his imported scotch, he can sit back with his panicked investors and embattled financial advisor buddies and try to figure out a way to shoehorn the last person making $15 per hour into a $300k stucco enslavement camp. But guess what, the party is over and someone is going to have to pay the tab and I think he is a little too concerned with self-interest to be honest about the situation.

Again, the pain and the length of suffering will be dependent on allowing market forces to correct itself. The government should have nothing to do with this and will only extend the time that the bandages need to continue to be changed and who is infected with this plague.

Here is a chart of “affordability” in Sacramento County approaching and circling the runway now:
Notice the “affordability” getting oh so much closer each and every day. Sorry Robert, you may have to settle for domestic scotch next year if you are still employed. Even while the inventory is dropping, so is the price per square foot. Hmm...I guess supply and demand does work.