Tuesday, August 28, 2007

Lincoln Repos






Thanks to Jeff for sending in these photos.

13 comments:

Cmyst said...

All I can think of while looking at those is "who would want that monstrosity?"
It looks like the neighbors are right on top of you, no yard -- and high utility bills to cool that baby.

Patient Renter said...

Love that color. I think they call it "Sierra Dirt".

Fanchew said...

Saw an intersting quote from the SacBee on income statistics. "My career for the past 10 years was in the mortgage industry," said Rachel Brandon, who is 39. "I have a license to do loans. Two years ago I was making lots of money -- I was making deals in my pajamas from home. Now I'm waiting tables at Denny's for $8 an hour." Not that I don't emphathize, but maybe she was one of those people who helped drive up prices and now are expereincing a bit of commupence.

Still, she's optimistic.

"I really like my job at Denny's," she said. "I'm learning quite a bit, and someday I'd like to have my own cafe. But, two years ago if you asked me if I'd be working for $8 an hour today, I'd have said 'God, no way.' "

Diggin Deeper said...

I've got to give it to this lady. She's got a great attitude. The photos are typical of any neighborhood who's CC&R's are nothing more than a written set of rules and regs. Then again, the community associations probably didn't plan for all these foreclosures to blight their neighborhoods.

There are three homes within two blocks of where I live that are obviously in foreclosure. The weeds are two feet high and the advertising flyers are piling up.

The collateral fallout from this mess is beginning to filter into all parts of the economy. As it continues we'll all be hardpressed not to be affected

patski said...

http://edhtelegraph.com/articles/2007/08/29/news/top_stories/01house.txt

No worries for local realtors
Folsom market seems immune to decline in home sales

By: Tim Menicutch
Tuesday, August 28, 2007
Even though some homes in El Dorado County, like this one in El Dorado Hills, have dropped down from original asking price, the county overall has seen only a small decline in sales. Robert Scott/The Telegraph
Folsom and El Dorado Hills seem somehow insulated from the recent shockwave of declining home sales reverberating through other parts of the Sacramento region.

In Folsom, the number of homes sold between May and July dropped only 1.88 percent when compared to the same period from last year, and the average median price declined only 5.59 percent.

Patient Renter said...

Since bailouts are a common topic around here, patrick.net has a post about Obama, who apparently has jumped on the homeowner bailout bandwagon. His position is quite obsurd, but of course, worth checking out.

And the list of reasoned Presidential candidates further dwindles...

Sittin' Out This One said...

That house sold for $715,000 with a 90% loan. It is owned by Wells Fargo and they are asking $499,000 today. Wells (or their downstream investor) will lose $144,500, plus about $50,000 in foreslosing and selling costs.

There are 20-30 more right behind it in the same neighborhood. Lincoln is brutal on FB's.

Gwynster said...

I'd love to see some of that brutality hit Davis- a girl can dream.

Patient Renter said...

"I'd love to see some of that brutality hit Davis- a girl can dream."

This is quite the quote, taken out of context :)

norcaljeff said...

Sittin, that house might be even lower now, saw it (or a similar one) on FIT, a 3100 sqft, for $459K.

As for Folsom, it may hold out a little longer but that's b/c they get bay area folks with Intel to transfer up and pay list. Once the chip market drops again, so will Folsom. Intel announced some layoffs a while back for the Folsom site but the tech resurgence has helped bail them out this time.

Till said...

gwynster,

FYI, Davis is getting worked over. The sellers are starting to call back those low-ball offers that they rejected 4-6 months ago to see if the buyers are "still interested".

Tyrone said...

"I have a license to do loans. Two years ago I was making lots of money -- I was making deals in my pajamas from home. Now I'm waiting tables at Denny's for $8 an hour."

What does it say about a profession that takes you to waiting on tables in Denny's if you lose your job?

Gwynster said...

Till,

I have no doubt. It was bound to happen. let me run the 1971-2006 population change for Yolo for our evening entertainment >; )