10-02-2008, 06:41 AM
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Senior Club Cobra Member
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Join Date: Dec 2001
Location: Shasta Lake,
CA
Cobra Make, Engine:
Posts: 26,615
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Not Ranked
And during that time of expanded loans, houses that were and should have been sold for $80K to $150K suddenly became $200K to $400K homes. Example. One block from me they had just built two small new homes and had them listed for sale with a local realtor at $55K and $100K, both over priced at that price I thought. Suddenly they had people that couldn't afford a car trying to buy them and they sold for $170K and $ 250K. A year later both were abandoned and looked like junk yards with homeless and dopers breaking the windows and living in them and the lots were only 50' by 130'. About 8 months ago they finally cleaned them up and sold them for far less than original but still more than they are worth as they were just thrown together and the cheapest stuff available was used to build them. But the people that bought them are nice people and have spent a lot of money having the houses completely re-done and the what of the small lot they don't cover cleaned up and landscaped. One good ending to a greedy developers and let anyone that comes through the door have a house loan. One of the houses is 1,012 feet and the other, the lot was on a triangle shaped corner so the lot was so small to meet code and leave the required distance from eve to property lint they made two stories and I believe it is 1,278 square feet. But both look nice now and are being well cared for so at least that is one good ending to what is turning into a nightmare in this area of closed homes with the institutions that own them being in the Bay Area or L. A.
Ron
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Yeah.......
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