Wednesday, January 23, 2008

Interesting Find

Came across this post in a classifieds section on a local Elk Grove community website:

I removed the appliance from my home that is currently in foreclosure and my new place comes with a brand new one.

The dishwasher is about 1.5 years old and In perfect running condition and looks new. Very Quiet

KitchenAide 24in Dishwasher
Model #KUDKO1IL
Comes with original handbook/Paperwork

Retail: $699
Your Price: $300

Pictures to come shortly.

Contact me: krista@XXXXXXXXXXXXXX.com
or PM ME, or leave a post

23 comments :

Buying Time said...

I am really hoping the new place is a rental.....god forbid this person was allowed to buy another house....

Buying Time said...

I should rephrase....god forbid another bank gave this person more money to spend.

Sippn said...

Funny, my brother is working on REOs and shopping for new appliances and ceiling fans - most common on over 1/2 I've seen.

Max said...

That's awesome. I wonder if if comes with 50' of copper pipe? :)

Sippn said...

Pex

At least you're old enough to remember copper.

Sippn said...

Geez - hope nobody shorted builders this morning - Pulte up 22%

smf said...

So, silly girl just admitted to a crime in the paper?

"hope nobody shorted builders this morning - Pulte up 22%"

They way down is populated with dead cat bounces. It goes down 10, up 7, down 12, up 9, down 4, up 2. Before you know it, it is further down than you realized.

I don't recall many stories that stated how the NASDAQ had fallen 75% from its peak, neither anyone predicting that it would do so.

Patient Renter said...

Wow that's evil!

Gwynster said...

yep

If you surf places like the HGTV forums and BrokersOutpost, you see people buying newer, smaller homes and letting the 1st monster go to the bank.

I wonder how many did this in recourse states? If they plan on foreclosing on the primary property, better hope they didn't refi or heloc because when they do, chances are good they just bought themselves wafe garnishsments and lost the 2nd house because it flipped to a recourse loan.

The worse the banks's losses, the more likely they will come after you. You may skate for a year or 3 because of volume but they'll still come after you.

Max said...

chances are good they just bought themselves wafe garnishsments

Much better than *wife* garnishments, but I prefer waif garnishments any day of the week. :)

Patient Renter said...

"Much better than *wife* garnishments"

I dunno. I'm sure there are some who could make a solid case for wife garnishments :)

Sippn said...

Not sure its a crime to take appliances from a home you own, but likely a violation of loan terms - maybe one that might keep you free from the state's protection.

Sippn said...

Do they take one wife away every paycheck or make you take one back?

Wadin' In said...

This is a strange market. I put an offer in on a house on Jan. 14th. There were 23 other offers and it went over listed price ($107/sf for 3100 sf). Yet other homes you can't seem to give away.

AgentBubble said...

You are right, it is very strange! I'm seeing multiple offers and houses not lasting a week in certain areas. Mind you, we're talking about North Highlands, Elk Grove, and Stockton. But, I now have to call each listing to see if there are any offers prior to taking my buyers out. Haven't had to do that in a LONG time! I'm writing an offer today on a house in Elk Grove that already has an offer, and my clients are offering $11K over asking price. We're talking about a sub $200K house. This all just started happening in the last 10 days or so.

Sippn said...

A friend of mine who does REOs says their average time on market right now (measured pre January) is less than 60 days.

Thats great for homes that often need paint, carpet, grass, fans and a few appliances.

Max said...

I think this is a better illustration of my argument:

Bouncecat

Wadin' In said...

Hahahahhahaha. Laughing out loud. The Bounce Cat is too funny.

siflsockpuppet said...

I think this is evil. What's next, the garbage disposal, oven, built-in microwave, thermostat, air conditioner, furnace, electrical outlets? There'll just be a shell of a house and you know the new buyer is going to demand a lower price or cash back to replace the missing pieces. The "owner" is basically stealing from the bank AGAIN. At least have the decency to leave the home in the best condition possible so someone who can actually afford it wants to buy.

Gwynster said...

Agent,

I know Elk Grove is your turf. Did you see this?

http://www.sacbee.com/101/story/661000.html
Elk Grove to look at anti-gang law

Do you think it will help or hurt the market?

AgentBubble said...

Hey Gwynster,

I see the rationale behind it, but I don't see the impact being overly successful. IMHO, Elk Grove really is just an extension of South Sac. Sure, Elk Grove has about 4 decent custom areas in it. Quail Ranch, a few streets near Valley High Country Club, A few streets near Waterman/EG Blvd, and part of Camden. A lot of people rave over Stonelake, but if you drive though, you'll see the same tract homes found everywhere else in Elk Grove. Elk Grove should be renamed South South Sac. [/Rant Off]

Getting back to your question, I really doubt this will have much impact on the Elk Grove market. I've lived in EG most of my life, and neighborhoods are really starting to fall apart, not because of gang activity, but because people were paying $300K for an 1100 sf house they couldn't afford. EG is a bedroom community, always has been and probably always will be.

smf said...

AB -

Correct me if I am wrong, but I don't know of any neighborhood full of track homes that remains nice for a long time.

The better and more desirable areas are those who have a mixture of homes, specially custom homes.

Places like EG and Folsom (for the most part) have no real personality.

Gwynster said...

Thanks AB, I know you'd know the scoop.

Someone here thought it would help to improve sales and I thought it would do the opposite by calling attention to the problem.