Homes in Riverside

10775 Labrador Dr


10736 Kearsarge Pl


10721 Haymarket Dr


10691 Zodiac Dr


10669 Sagittarius Dr


10647 Gemini Dr


10621 Salisbury Ln


10451 Killarney Dr


10435 Killarney Dr


10421 Beckwith Ct


10404 Charleston Dr


3373 Vallejo St


3273 Vallejo St


3241 Baffin Dr


3237 Baffin Dr


3233 Racine Dr


3209 Racine Dr


3185 Neptune Dr


3160 Neptune Dr


3190 Kilkenny Dr


3186 Kilkenny Dr


3291 Abbotsford Dr


3155 Abbotsford Dr


3154 Kilkenny Dr


2982 Summerfield Ln (sorry about my hand in the way!)


2767 Aries Ln


2761 Leo Cir


2751 Libra Dr

More on inventory

Short Sales
92879 (80)
92880 (88)
92881 (37)
92882 (65)
92883 (64)

Standard Sales
92879 (22)
92880 (24)
92881 (16)
92882 (33)
92883 (39)

If we add all of the homes together...we are left with a total (I have not included any probate sales) inventory in Corona of 540 homes. I have mentioned before how low the inventory is compared to where it was just a year ago. If we looked at this on the surface, we might come to the conclusion that the worst is over for real estate in Corona. And this might very well be the case, depending on how successful the banks are at modifying loans (currently approx. 16% of loan mods are being approved). However, a little more digging reveals that there are 3,058 homes at some stage of foreclosure in Corona.

I am still working out in my own head what this means...therefore, I am offering no conclusions yet. But, I am working on it.

Corona Foreclosure Lists

It has been a long time since I posted foreclosure lists. There are a few reasons for this: 1.) I am going through some transitions in my life, 2.) it is a big commitment to post them every week (and I have slacked off), and most importantly 3.) the number of foreclosures has decreased dramatically. So, here they are...all 72 of them. The short sales and standard sales will be in a separate post.

92879 (18)
92880 (12)
92881 (7)
92882 (23)
92883 (12)

Foreclosure Lists (92879)

92879 (91)

Standard Sale (15)
REO (10)
Short Sales (59)

Jukebox XI

My oldest friend and one of my closest friends told me, "rap music sucks once you get older...it is a phase that you grow out of". So, based on that, I should not like rap (although I think they call it hip hop now) music. I don't know if I am a fan of rap music perse...but there are a few songs that I really like. So...this months first post will start with my jukebox...and it will start with a rap song. One last thing, my computer (ok, all of my computers) died this week. I am left with my iPhone (which I can now no longer sync) and some individual songs. So, this is an extended version of jukebox...containing the songs that I am currently listening to in my car.

18. Run This Town Jay-Z, Kanye West, Rhianna

"They should throw they hand in, 'Cause they ain't got no spades" - Jay-Z

"I bought my whole family whips, no Volvos, next time I'm in church, please no photos...What you think I rap for, to push a f*@$#ng RAV4?" - Kanye West


Alright, so every time I see, hear, or read about Kanye West, all I can think about is Ron Artest. Maybe they look alike, or they say incredible weird, and sometimes stupid things, whatever it is they are entwined in my head. I can actually see this happening next Spring...

As LeBron steps on stage to accept his MVP award...Ron jumps up and grabs the mic from LeBron.

LeBron: I would like to thank...(mic being ripped from his hand)
Ron: No disrespect to you, but Kobe had the greatest season in the history of the NBA...I am just saying (drops mic and walks away)
Kobe: (shakes his head in disgust)
LeBron: (mouth open...no words coming out of his mouth)
David Stern: We'll be back after this commercial break.

I know it is far fecthed...but Ron Ron says, and well does some incredibly crazy things! It is actually not that far from being true...you read it here first.

17. Love Bites Def Leppard feat. Taylor Swift

Taylor and Def Leppard seems like an odd pairing...although she does have a little angry rocker in her (which I totally dig). Anyway...CMT put the two together a few weeks ago, and it was really a nice segment. Like I have said before, Taylor is smoking hot, so jumping on her bandwagon is never a bad idea.

16. Need You Now Lady Antebellum

They sing about a lot of things that I am surprised about. There first single was about one night stands. While this doesn't seem that far out there...I grew up in a world that girls didn't sing about wanting to have a good time for one night. Anyway...this song is similar. Someone is drunk, calling their ex (at least that is what it seems like it is about)...anyway, just not the world I grew up in. Having said that...both of those songs are awesome. Hanssie and I saw LA at a Kenny Chesney concert this summer...they are great.

15. Red Light David Nail
14. Throw It In A Bag Fabolous

Hanssie used to wish I would say this to her...I am SURE I grew out of this phase, I think she has too.

13. Paparazzi Lady Gaga
12. Cowboy Cassanova Carrie Underwood

Her latest release...it is catchy and Carrie looks good in the video. I expect a great CD from her considering she knocked Kenny off the top of Country music this year.

11. Best I Ever Had Drake

Crazy song...if it gets in my head...it is there to stay!

10. Fifteen Taylor Swift

Taylor also knocked Kenny off this past week. Although...she did have the two biggest selling albums this year.

9. Hurry Home Jason Michael Carroll
8. The Best of Me Jason Aldean

He is right behind Kenny as my favorite. Well, Brian McKnight is there too...but I haven't heard anything new from Brian lately. Anyway...he is awesome. I can't wait for Stagecoach next year. He is supposed to be there...

7. Bonfire Craig Morgan
6. Toes Zac Brown Band
5. Just Not Today Kenny Chesney
4. Hillbilly Bone Blake Shelton feat. Trace Adkins
3. Cryin For Me (Wayman's Song) Toby Keith

I didn't realize that Wayman Tisdale passed away. I also didn't realize his incredible story. He lost a battle with cancer that first took his legs, then his life. He was a professional basketball player who has turned into a hero of mine. Not because of the way he played basketball (which was decent), rather because of his faith and the way that he took all of the difficult situations that he was dealt in life. He always had a smile on his face...he will be greatly missed.

2. Love Your Love the Most Eric Church
1. Gettin You Home Chris Young

My favorite song right now...the black dress song. It is amazing!!! You should check it out...

92883 Repo Lists

REOs (17)
Pending Sales (42)
Closed Sales (22)

Standard Sales (47)

Short Sales (77)

92882 Repo Lists

REOs (12)
Pending Sales (63)
Closed Sales (26)

Standard Sales (20)

Short Sales (53)

92881 Repo Lists

REOs (6)
Pending Sales (16)
Closed Sales (13)

Standard Sales (21)

Short Sales (43)

92880 Repo Lists

REOs (10)
Pending Sales (60)
Closed Sales (26)

Standard Sales (20)

Short Sales (85)

92879 Repo Lists

So, I thought I would mix it up a little. This will give us some perspective of the current market in Corona. When I have some more time...I will add areas of Riverside and Moreno Valley.

REOs (19)
Pending Sales (45)
Closed Sales (29)

Standard (24)

Short Sales (61)

USC 13, UW 16

So, everyone knows how much I love SC (not just the football - today's result aside). It doesn't mean that I am not critical...

A few observations:

1.) In football, with a young quarterback (who is terrible by the way - more on this later), you simply can not have 7 straight possessions end without scoring points. SC drove in Washington territory almost the entire second half today and didn't score a point until late in the fourth. Turnovers and penalties killed all of those drives...

2.) Why didn't the field goal attempt count at the end of the first half? I watched it over and over, and the ball seems to be hiked before the clock struck zero. So the field goal attempt would have counted...I understand that the line might not have been set...but this would have been a penalty and thus that would be the explanation.

3.) Pete Carroll knows what he is doing. Aaron Corp looked terrified the entire game. He stared down receivers...he threw into triple coverage (at the 15) that led to a pick...he argued with the ref for 7 seconds instead of helping settle the team for the long field goal attempt.

I didn't believe it this year...I thought that they would slide in under the radar and play in a meaningful game. But, Pete seems to have a hiccup every year...2009 we get to add Washington to the list of low life (see Oregon St, UCLA and Stanford) Pac 10 teams that knock SC off. The predictions were that SC could lose 3-4 games this year...and it seems a lot more likely with tough road games coming up in Berkeley and South Bend.

I am not a doom and gloom person...1 loss does not make a football season. But, I can't handle another game with Aaron Corp under center...and I can't handle teams with 1/3 the talent routinely knocking off PC's squad.

Corona REO Lists

92879 - 10
92880 - 14
92881 - 4
92882 - 10
92883 - 15

Jukebox X

I was driving from one house to another on a hot day in Moreno Valley, CA last week. When my client asked what kind of music I listen to...2 interesting things about this, 1.) clients usually never want to travel in the same vehicle (so, having a client in the car is different) and 2.) asking me what kind of music I listen to can be dangerous. My iPhone is all over the place - as far as genres. Here are the first 10 songs my iPhone spits out on shuffle:

1.) Clothes Off Gym Class Heroes - Punk
2.) I Can't Go There (Acoustic) Kenny Chesney - Country
3.) Paradise City Guns 'N Roses - 80's Rock
4.) The Best of Me Jason Aldean - Country
5.) Don't Think I Don't Think About it Darius Rucker - Country
6.) Every Day Rascal Flatts - Country
7.) Be Like That 3 Doors Down - Alternative
8.) Eastside Snoop Dogg - Rap
9.) How Far Do You Wanna Go? Gloriana - Country
10.) Cry For You Jodeci - R&B

However, the type of music I listen to varies depending on the situation in my life. For example, if you happen to be in my car on Monday night between 6:45pm and 7:15pm there is a good chance you will hear You Don't Hear Me Tho' Rodney O and Joe Cooley or Goin' Back to Cali Notorious B.I.G (Puff Daddy).

By I digress, my client asked me my favorite type of music. The answer is Kenny Chesney. His music resonates with me. His lyrics are amazing and his voice is dope. Aside from Kenny Chesney...I listen to a lot of country. I like music that tells a story (I have no idea what Boom Boom Pow means...or is about, beyond a nice beat...and a catchy chorus).

So here goes my current playlist...

1.) Out Last Night Kenny Chesney

I had to start here...he is the best.

2.) Small Town USA Justin Moore

It seems like all country music singers are really proud of where the come from. Justin just makes small town life seem SO appealing.

3.) You're Not Sorry Taylor Swift

I was surprised to find out that Taylor has sold the most albums since the beginning of 2008 - 4 million and counting. Reminds me of a Chris Rock joke - he said, "the Spice Girls are just like crack, everybody is doing it and no one will admit it."

4.) American Ride Toby Keith

why buy a gallon, it's cheaper by the barrel...
spill a cup of coffee, make a million dollars

PRICELESS!

5.) L.A.X. Files The Game

One of my favorite movies growing up was Menace to Society. A great movie about growing up in the South Central LA...this song completely reminds me of that movie (not just because of the million references).

6.) Do I Luke Bryan

I like sappy...introspective love songs. I know, I know!

7.) Big Green Tractor Jason Aldean

Everytime a Jason Aldean song comes on the radio, Mac gets very excited and says, "Baba, your favorite is on". I like Aldean a lot.

8.) Animal Def Leppard

When I jump in the car, I shuffle my iPhone and this song comes on within 8 songs EVERYTIME! It brings back memories of driving to Sequoia National Forest with my family growing up. It reminds me of the music that my sister and brother listened to when I was growing up. Anyway, a tape player in the back seat of the stationwagon listening to Hysteria. I think my parents had banned that tape in our house. I was real good at following rules.

FYI - no one needs their child to get sick as they are finishing a blog post!

Foreclosure Lists

Corona (62)
Mira Loma (17)
Norco (8)
Riverside (176)
Moreno Valley (124)

My email is not allowing the Mira Loma, Riverside and Moreno Valley - I will update them as soon as they come. UPDATED!!!!

Total REO inventory in these areas is 379.

Repo Lists

Corona (64)*
Norco (16)
Mira Loma (12)
Riverside (191)
Moreno Valley (125)

*On July 19, 2009, there was 126 REOs available in Corona.

From June 21 - 30, 2008, there were 215 REOs that came on the market in Corona, Riverside and Moreno Valley. There are currently 380 REOs on the market in those 3 cities.

Superstitutions anyone?

Over the past few years (during the Real Estate meltdown), I have seen (and heard) some amazing things.

I had the client who didn't want to buy a particular house because the street went directly into their driveway.

I had another client who wanted to buy a house because his necklace fell of as soon as he walked in the door, thus "we knew this was our house."

But nothing tops what I saw last Wednesday in a home in Murrieta. A young girl whose family had lost their home and she was upset...I couldn't help but take a few photos.





Excerpt:

This is my house no matter what, I do, or where I go!...no matter who lives in here, it'll be mine...you took my house & my childhood.



No matter if you paint over my words, they will still be here

Foreclosure Lists - Corona

92879 (17)
92880 (29)
92881 (20)
92882 (27)
92883 (25)

May closes in Corona

92879 (63)
92880 (105)
92881 (43)
92882 (114)
92883 (77)

May had 402 closed sales!

June closes in Corona

92879 (60)
92880 (102)
92881 (36)
92882 (92)
92883 (74)

364 closed sales in the month of June.

Pending Sales in Corona

92879 (125)
92880 (182)
92881 (72)
92882 (181)
92883 (137)

697 homes are pending sale in Corona.

Corona Homes 4 Sale

92879 - REO (16)
92879 - Standard (17)
92879 - Short Sales (87)

92880 - REO (19)
92880 - Standard (19)
92880 - Short Sales (105)

92881 - REO (7)
92881 - Standard (18)
92881 - Short Sales (37)

92882 - REO (15)
92882 - Standard (13)
92882 - Short Sales (65)

92883 - REO (16)
92883 - Standard (41)
92883 - Short Sales (75)

If we add up all of these homes (plus the 1 house listed as an auction/probate sale)...there are 551 homes on the market in Corona.

Zip Realty Newsletter

Zip puts out a newsletter for our clients.

Don't know if you want to check it out...but here it is.

July 2009 Newsletter

The Good, The Bad, The Ugly

An impromptu trip to San Jose...

The Good:

- Dim Sum
- Chinese breakfast (I have no idea what it is...but it is GREAT!)
- seeing 3 movies while here (The Hangover, The Proposal, The Taking of Pelham 123 - I don't get to see movies often, so this was exciting)
- unbelievable Pho - can't get the correct accents on the words...sorry!
- great food in general
- seeing family
- grandpa being release to therapy right after we left ;-)

The Bad:

- grandpa falling and breaking his hip...requiring surgery (not good when you are 89)...which was the impetus for the little trip

The Ugly:

- 2 400 mile trips in 5 days...that is a quick turnaround

Today: Moving Electronics!

Hanssie's grandfather owned a home in Calimesa that has defaulted to being ours. I have the responsibility of cleaning the place up and getting it ready for renters. Tai Gong, as we call him, had a habit of going to the second hand store and buying tons of electronics. He would take them apart and plug them in...he would then place a nice note on the machine (works good, no audio, etc...). Now that he has gone getting rid of the stuff has been a nightmare...the city told me that they would come get the electronics. The first 4 items free and $25 per appliance thereafter...

Here is a list of the electronics:

22 VCRs
8 TVs
8 stereos
2 CD players
2 BetaMax players
1 DVD players
1 Computer
1 Monitor

45 total...leaving 41 to be picked up ($1025). However, the city told me that on June 27th, 2009 they were having a large item pick up...so I should wait until then. Therefore, today was the day that I had to travel to Calimesa and set out all of his electronics.

I was going to snap a photo, but I was late this afternoon when I left.

Jukebox IX

1.) On My Own - Les Miserables

I am not sure why I like this song so much. Maybe because Joey Potter sang it at a talent competition...and I had a major crush on her. I am not sure...anyway, the song is dope and the musical is pretty rad too. It took until the third time seeing it for me to stay awake - but we were in New York and we saw it on Broadway - amazing!

2.) He Stopped Loving Her Today - George Jones

George Jones is one of the best old school country acts there is. I have no back story for this song...but it is in my memory. Just a sad song...and I am sappy.

3.) I Wanna Talk About Me - Toby Keith

Reminds me of my friend...he is always saying that someone is talking to much (a lot of the time it is me...I talk a lot). Anyway...music is such a memory trigger for me. I can't live without it.

4.) American Soldier - Toby Keith

This song reminds me of my oldest friend Daniel. I may have mentioned him before...he surprised me (and well, his entire family) by joining the military 3 months before his 30th birthday. He has completed his pilot's license...and is in Arizona finishing up some training. Three things I am looking forward to: 1.) seeing Daniel on the 4th of July, 2.) going to Miramar for the air show in October (hopefully the Dodgers are not playing on the same day), and 3.) his wedding in October (he is engaged!).

5.) Never Felt This Way - Brian McKnight

Brian's voice is so tender. I love this song. I am a sucker for ballads...and their is no better singer than Brian.

6.) Low - Flo Rida feat. T-Pain

Hip-hop...gotta have some on the iPod. Here it is...I am getting old...so most of the time I have no idea what they are saying.

7.) You Belong With Me - Taylor Swift

Taylor is pretty hot right now. I really like her...and I think it is because she wears her emotions on her sleeve. I can relate!

8.) Out Last Night - Kenny Chesney

Hoping to work out seeing him in San Francisco in July...so I need some Kenny!

Lebron and Kobe puppets

This commercial is hilarious. Mackenzie wants to watch "the movie" all the time. "The movie" is the "youtube" versions of all of the puppet commercials. I know I was bored...but watch and read...

Lebron: No, no, it’s no problem. You enjoy your bunyon surgery. Alright now…

Kobe: Lebron, who was that?

Lebron: Oh, that was Mrs. Lewis, we gotta watch lil Desmond

Kobe: Oh man

Desmond: I can’t believe I live downstairs from you guys. Lebron, what does it feel like to dunk on someone? Do you feel bad? Kobe, do you polish your ring? Do you have a ring polisher? I mean, why’d you cut your fro? Lebron, have you ever sat on someone’s shoulder while you were in the air? I mean, I liked your fro…are you more aerodynamic, are you faster? Kobe, do you polish your head and your ring with the same thing? Hey how did you guys pick your numbers 23 and 24, why are your numbers so close? Lebron, can you explain your crab walk dribble dribble? Kobe, your crossover is sick man? Lebron, do you practice your dunks? Ahhhh chooo…my bad brother allergies. Kobe, can I watch the game? Lebron, who’s playing? And Kobe, have you ever ate’n an empanada? Lebron, do they use a triangle offense? Lebron, Lebron you got over 20 triple doubles, can I have one? Kobe, what’chu over there reading? Are you in that magaizine? So Lebron, Kobe, Kobe, Lebron, Lebron, Kobe, can I see your shoes? Do you have any new shoes? AHHHHHHHHHHHHHHH

Lebron: Uh huh

[Desmond uses inhaler]

Lebron and Kobe watching lil Dez

Kobe Bryant: A Defense!

The season is over...the champagne has been spilled...the 'repeat' rhetoric used ad nauseam. To quote Chick Hearn, 'the Lakers are the World Champions!' Yet here I sit, some guy in a small corner of the world (Corona, Ca), and I feel like I have to defend Kobe Bryant. Bill Simmons (an LA based guy - Clippers season ticket holder no less...who just happens to be a die hard Celtic fan) has a lot to say about Kobe. Although, most of it is drenched in Laker hater...most of it is drenched in envy (green like the putrid colors of the Boston Celtics).

[The Celtics may own the most Championships (17)...but they are not the best franchise in the NBA...for the better part of the last two decades they have been irrelevant. Let's face it...their relevance is approximately 2 years. I remember in the '90s Nick Van Exel hitting a number of huge 3s at the Garden in Boston and the place being more Laker fans than Celtic fans. Which is pathetic because at the same time the Lakers were first round playoff fodder for the good teams out West. Check out the stats:

Celtics record from 93-94 to 06-07:

472-644 .423 (2922-2000 .594 all time record)

50 win seasons 0

50 loss seasons 3

As good as they were in ’07-08 (66-16), they were almost equally as bad in ’06-07 (24-58). They were actually worse in ’98-99 (15-67).

Lakers record from '93-94 to '06-07:

690-426 .618 (2970-1841 .617 all time record)

50 win seasons 8

60 win seasons 3

50 loss seasons 0

As good as they were in ’08-09 (65-17), they were better in ’99-00 (67-15). The worst season the Lakers had was in ’57-58 (19-53)

Basically, the Celtics dominated the 60s…and are mediocre except for pockets since. And the Lakers have been amazingly consistent…as you see by the winning percentage over the 93-94 to 06-07 span is essentially the same as the Lakers historical winning percentage.

I remember the portrayal of the Celtics in Dan Aykryod's movie Celtic Pride. I could go on...but I digress!]

First, can the comparisons to MJ please stop? Kobe and all the rest of his generation (LeBron, Vince Carter, Antawn Jamison, etc...) grew up watching Michael. They tried to emulate every single one of his moves. Kobe just happens to be the only one who can even come close to MJ. [c'mon LeBron throws chalk, wants to be a global icon, etc....]. No, Kobe's numbers are not close to Jordan's but they have had different roles during their careers. Would Jordan have scored as much as he did if he played alongside Olajuwon? The answer is probably not. I know...Michael would have averaged 15 assists a game if he had a dominant big man...maybe...we will never know how 'His Airness' might have responded to another alpha dog on his team. [Scottie Pippen was not an alpha dog - just an FYI]

Second, can we just appreciate Kobe Bryant for who he is? Who cares if he pumps his fist? Because MJ did it no one can? Who cares if he got a scowl on his face during the playoffs? He is on the cusp of doing something unprecedented in NBA history (more on this later). He was trying to win an NBA title...and he did! He averaged over 32 points with over 7 assists (only West and Kobe has done this in the Finals). And he just happened to make the most unbelievable shot I can remember seeing. He waltzed across the Magic defense into the lane, raised up, just as uber defensive player Dwight Howard did, faked to the right pulled it down (while in flight) went up on the other side and banked it home. Degree of difficulty...off the charts. Kobe (who is demonized as being a me first player) had to shoot the ball that way because Howard was right there, unlike Michael who made a similar move against the Lakers in '91. The famous up with the right hand, switch to the left hand layup that gets played over and over and over again. The difference, MJ could (should) have dunked the ball with his right hand - no one met him at the rim. He did not need to make that shot so difficult.

Lastly, Kobe has an opportunity to win multiple championships with multiple teams. I do not mean this in the way that Big Shot Bobby did. Horry was fortunate to be on the Rockets, Lakers and Spurs and pile up a ton of championships. Michael on the other hand won 2 3-peats with essentially the same cast of characters. By contrast, Kobe was an integral part of winning with the Shaq led Lakers and could put together another run with a vastly different cast around him. He didn't bounce from contender to contender piling up rings (no disrespect to Horry - he will always be a Laker in my book)...he was part of building something that had been torn down. Check out the wreckage left in the wake of the SS Shaq O'Neal [side note - I truly hope he goes to Cleveland...no greater way to destroy a young talented player (team) than to pair them with Shaq - it took D-Wade 2 years to recover from carrying "The Diesel" to the '06 title (the Heat still haven't recovered), who knows how long it will take Amare to recover (the Suns may never recover) - and we blame Kobe for things falling apart in LA].

Kobe is Kobe. He is moody (who isn't?). He is sometimes contrived (who wouldn't be...growing up in the spotlight). Kobe is a Champion! Sometimes, he puts his head down and tries to do it all himself...I can relate. Sometimes, he is amazing...sometimes, he takes your breath away. Sometimes, he wins championships...4 times.

Repo Lists

Corona
92879
92880
92881
92882
92883

Mira Loma
91752

Norco
92860

Riverside
92501
92503
92504
92505
92506
92507
92508
92509

Ramblings (about sports), musings, and updates...

My favorite sports teams are (in order of favorite)...

...USC Trojans (ok, I just love the school...I follow the basketball team, I am familiar with the baseball team...would love to get my MBA there - if it weren't for a pesky thing like $150k -, but I am obsessed with the football team)
...Los Angeles Lakers (Kobe Bryant is my favorite player for many reasons - I don't give a damn about what Bill Simmons says...he is a Celtic fan - but if he leaves the Lakers...he no longer is my favorite)
...Detroit Red Wings (I love the Wings and love Steve Yzerman - by far my favorite player in ANY sport)
...Los Angeles Dodgers (I love the Blue...don't really have a favorite player past or present...just love the team - Gibson, Hershiser, and the '88 world series are stuck in my head...mostly because Jason Sharp sat behind me in English class that year and he was a huge Oakland A's fan)
...Jacksonville Jaguars (L.A. has been without a pro football team for many years - in fact, the only pro game I have ever been to was between the L.A. Rams and the Atlanta Falcons [Deion Sanders was on the Falcons at the time] - anyway, the Jags drafted a few Trojans early on {Jeff Kopp, Rob Johnson, Tony Boselli, etc...} so it made sense for me to be a Jags fan. None of those guys are still around and Fred Taylor is my favorite player - I hope he gets a ring with the Pats)

Occasionally, as a fan of sports we are gifted with great days. A few years back me and a couple buddies of mine and my pregnant wife went to San Francisco and saw an entire Dodgers v. Giants series and saw the USC v. Stanford game on the Farm.

Today was one of those days...

...the Wings beat Sid the Kid and took game 1 of the Stanley Cup Finals
...the Magic beat the Cavs - remember I said I was a Kobe fan...thus, I respect LeBron...but love to see him lose. I also love hearing about how great of a guy he is...YET, he decided to skip the part were he congratulates the team that kicked his ass - check out these commercials they are hilarious
...unfortunately, the Dodgers lost today...but they still have the best record in the MLB even without Man-Ram (possibly the most unfortunate nickname in the history of the world)

Updates...

I am still researching the short sales, the loan modifications and the foreclosure processes and consequences. I hope to be posting more about this soon.

Updated Repo Lists

Corona
92879
92880
92881
92882
92883

Mira Loma/Norco
91752
92860

Riverside
92501
92503
92504
92505
92506
92507
92508
92509

Moreno Valley
92551
92553
92555
92557

Reminder - you view the homes by clicking on the zip code that you are interested in. The hyperlink will take you to the list of homes.

More from Homer...

December 2005, I am sitting in the back storeroom of my in-laws. I am pouring over data about the Texas Longhorns. Checking their schedule; checking the yardage for, against; checking the scores for, against; etc... I was looking for a reason to believe that my Trojans would beat the 'Horns. USC had the greatest offense around during that year. They averaged just under 50 points a game. Studs in EVERY department: Sam Baker and Ryan Kalil on the line, Dwayne Jarrett and Steve Smith as receivers, LenDale White and Reggie Bush as backs, and Matt Leinart as the Captain. At this point in his career...Matt was 37-1...the only loss an overtime loss on the road to Cal in his first 4 games. When that game was played Hershel Dennis was the running back - Bush and White were just highly touted recruits. The defense was good but not great...but they didn't have to be. All they had to do was hold the opponent under 35...and they won! It was a good year...scares by Cal and Fresno St kept the fans and the nation interested. On paper...it was a slam dunk...USC would win. The only thing I couldn't account for was Vince Young. Young was without a doubt the most impressive athlete I have ever seen in person (this includes LeBron). He towered over everyone on the field...his body did things that no one's could (just ask Brian Cushing - the young SC linebacker responsible for keeping tabs on Young - a guy who was just drafted in the first round of the NFL draft, but was on his face a lot, diving after Young, while Young had moved in another direction piling up over 200 yards rushing).

May 2009, I am sitting thinking about the Lakers. How will this season end? On paper, no one can touch the Lakers. But, in person they leave a little to be desired...they do not have the drive of Kobe. They play with NO urgency. They play like there is a tomorrow and like there is an infinite number of tomorrows. Vic the Brick says, "they need to play with their hair on fire" and that just isn't who they are.

Kobe Bryant can not impose his will on this team. No matter how much he locks his jaw and stares down his teammates. They play with a chip on their shoulder. However, it is a little bit different than the chip that last years Celtics played with, or the Nuggets play with this year. Their chip is more like "don't you know who we are"...a sense of entitlement. They short arm rebounds. They do not hustle on defense and get lazy on offense. They sit and wait for Kobe to bail them out (maybe Kobe's new nickname should be Obama). I love the Black Mamba...but he can't do it every time. When thugs (I can't believe I agree with Mark Cuban) like Kenyon Martin, JR Smith and Chris "Birdman" Andersen are beating you...things are bad.

Unfortunately, I had a front row seat as the Trojans got rocked by VY. I am hoping this year that I don't catch a case of deja vu.

Ticking Time Bomb

So we left John and Mary with the imploding, soon to be exploding, mortgage. Things to remember about the Option ARM loan:

1. There is a minimum payment (which in this case would be based on a 2% amortized payment schedule - usually this loan has a 1% start rate, but because of the loan amount the bank required 2%)
2. The payment is based on LIBOR plus a margin (hypothetically 3% - since that is what my buddy who is a mortgage officer said they charged on ALL Option ARM loans)
3. The payment goes up 7.5% each year
4. The difference between the minimum payment and the interest only payment is added to the balance of the mortgage

Now these are very rough numbers, but here is their mortgage situation.

1st - $625,000 (5.8%)
2nd - $60,000 (8.25%)

Payment
1st - $3,020.83 (I/O)
2nd - $450.76
Taxes - $572.92 (1.1%)
Insurance - $97.51
DTI: 49.7%

John and Mary would not qualify for this home if it were not for the Option ARM loan. Because of the 2% start rate...they get a qualifying payment of $3,431.31 (PITI) which leaves them with a much more manageable DTI of 41.1%.

Here is a breakdown of the yearly payments:

Year - Payment (deferred interest) - DTI
2006 - $3,431.31 (8,528.56) - 41.1%
2007 - $3,604.57 (6,449.44) - 43.3%
2008 - $3,790.82 (4,218.04) - 45.5%
2009 - $3,991.04 (1,811.68) - 47.9%
2010 - $4,206.28 (-771.08) - 50.5%

After deferring the interest, John and Mary are looking at a mortgage amount of $645.236.64 on the 1st. Don't forget that the mortgage is amortized over 25 years...because the first 5 years are gone. So, here is the payment that is sitting out in front of them.

2011 - $5,199.93 - 62.4%

The second is slightly better because they have been paying this loan down. The balance is $56,451.09. The total owed on the house is $701,687.74.

The payment is already pushing what they can afford. They no longer eat out, go on vacation, etc... If they called their mortgage company they would know that the payment in 18 months is going to be way over what they can afford.

Options

They have 4 options sitting in front of them. The first is pretty simple. They can re-fi their home and hope to take advantage of the unbelievable interest rates. A commercial on the radio is boasting of incredible rates...4.5% to be exact. John and Mary have been faithful to make all of their payments on time...their credit rating is over 750...they are great candidates.

However, re-financing the 1st mortgage is going to give them a payment of $4,363.99 (DTI of 52.4%). The result is that their payment actually goes up $157.71 per month. They will get relief of $835.94 per month over the 2011 fully amortized payment. John and Mary can probably suck it up and cover the additional payment. Except, the home is worth $375,000.

The second option is they can try to modify their loan. They can take part in President Obama's plan to help homeowners and re-structure their debt.

The third option is they can sell their home. Unfortunately, the issue of the homes worth crops up and this appears to be a dead-end for John and Mary.

The last option is to "walk away". They can stop making payments all together. They can save their money and start their life over.

Options 2, 3, and 4 need further unpacking...check back for the next post!

Complete Repo Lists V cont

Mira Loma/Norco
92860
91752

Riverside
92501
52503
92504
92505
92506
92507
92508
92509

Complete Repo Lists V

Corona
92879
92880
92881
92882
92883

Distressed Properties

The downturn in the economy has been incredibly hard on homeowners. The real estate bubble has burst in Southern California (actually across the nation, but I am familiar with So Cal). The stock market bubble has burst (not just a dot.com burst, but a wide spreading burst). The effects has been incredible. The average home in Corona has dropped under $350,000. Just three years ago this number was nearly $600,000.

Where does this leave us?

This is where we meet John and Mary...they bought a home in Corona in 2006. They paid $625,000 for their home. It is the house of their dreams - 3,000 square feet, enough room for all of their kids. John and Mary were living the American dream...just maybe a little in fast forward. They have 3 kids between the ages of 5 and 13...soccer, little league, etc...occupy their weekends. He drives a Cadillac CTS and she drives a Chevy Tahoe. They make over $100k per year...and probably overpaid for their home. However, the hot summers of Corona caused them to take out a second mortgage to put in a swimming pool in the summer '07.

John and Mary could not see what (most American citizens could see this coming, but all data points to the fact that our government KNEW) was coming. John's 401(k) has taken a beating...Mary's 403(b) has been likewise taking a beating. What's worse is that they owe well over $700,000 for an asset that is worth approximately $400,000. Wait, it is about to get worse...Mary and John bought their home with an option ARM mortgage. Their monthly payment is manageable now, but it is consistently ratcheting up.

Later - I am going to explain the options that Mary and John have, then we will see if we can do anything to help them.

Homer?

Last Wednesday, I spent a very enjoyable evening watching D-Wade destroy the Atlanta Hawks with a foray of dizzying moves to the basket and unbelievably long jump shots (including banking in a 3 pointer that iced the game with just over a minute to play). I was in Hotlanta on business and decided to take in a playoff game. My hope was that D-Wade would score 40 (he scored 38) and the game would be wildly entertaining (Josh Smith can jump out of the gym). Suffice to say, I was not disappointed for three reasons, 1.) the aforementioned D-Wade, 2.) the hawk (they release a live hawk during player intros) sat on the backboard for 10 minutes causing a delay, 3.) the PA announcer saying, "J J J J Joe Johnson every time he scored" (which didn't happen to often, and "the foul was offensive...Jermaine O'neal (every time the Heat committed an offensive foul).

I had the pleasure of sitting next to a couple of guys that were also in town on business - one was from San Antonio and the other from Philadelphia. While watching the game we began to discuss numerous basketball topics...

...how long will Kevin Durant and the Oklahoma City Thunder stay in the cellar (or at least out of the playoffs)?

...who is more of a clutch player (LeBron or Kobe)?

...will Boston survive Chicago?

...who is a better point guard CP3, Deron Williams or Chauncey Billups?

...can the soft Lakers win a Championship?

After talking for a few minutes...my new found friend Mike said, "Tim, you are just a Laker fan and that influences all of your opinions." Just for clarification sake, I did not say that Derek Fisher was better than any of those point guards...AND I did not say that the Lakers will win the Championship.

I just happen to think...

...that Kevin Durant (with one more lottery pick and the growth of his teammates - namely Russell Westbrook and Jeff Green) can easily jump the Phoenix Suns into the Playoff conversation.

...that Amare Stoudemire is (to quote Remember the Titans) "a waste of God given talent". The guys has no post up moves, the guy can not create his own shot...if it weren't for Steve Nash he would be a 12-14 point player with 5-7 boards...not someone worth a max contract.

...that LeBron's new found defensive prowess is nothing to jump up and down about, despite what every single analyst says. He happens to play the easiest position in basketball (what I mean by easiest is the least number of superstars playing the position). He doesn't have to contend with a Tony Parker, Deron Williams, Chris Paul, Jason Kidd, Chauncey Billups, Rajon Rondo, Derrick Rose, etc...that the other point guards have to worry about. He doesn't have to worry about Michael Redd, Kobe Bryant, Manu Ginobili, Tracy McGrady, Jason Richardson, Joe Johnson, Ray Allen, etc...that the other shooting guards have to worry about. He doesn't have to worry about Chris Bosh, Pau Gasol, Kevin Garnett, Tim Duncan, Dirk Nowitski, etc...that the other power forwards have to worry about. The only guy he has to check...is Paul Pierce (no offense 'Mello) and I GUARANTEE that he won't be making those spike blocks on Rondo and Allen while is guarding Paul.

...that the Boston Celtics are a bunch of thugs. Kendrick Perkins is the biggest of them all (until last night). He has borderline talent...he is heart and determination, but he is not a talented big man. He just beats the hell out of people. Kevin Garnett is the most overhyped player in the NBA...sure he is intense, but does every other word out of his mouth have to be m***erf***er and then the other word being n***a???? And now we have Rajon Rondo...the hit on Brad Miller last night was amazing.

For a couple of reasons, 1.) he intentionally fouled him (Doc Rivers praised him for fouling him and winning the game), 2.) he had NO intention of going for the ball (a guy who is this quick swings so late...I mean the ball was long gone when he swung his arm...he had NO chance of getting the ball.), 3.) it won the game. I agree with Colin Cowheard...the series is as it should be...the Celtics should be ahead...with or without Garnett. But, I disagree with his point that the foul was flagrant because the series is where it should be. The reason I disagree with this is if the situation was reversed and it was Derrick Rose swinging at Kendrick Perkins. The series would be heading to Chicago with the Bulls up...and they "shouldn't" be ahead in the series.

...that Paul Pierce is a drama queen. Hello?!? Didn't he sprain his knee...and then miraculously walk back to the court and play like he didn't for 4 more games. He is a liar...and so are the Celtics! See Bill Simmons article on www.espn.com about Kevin Garnett's injury...they are the masters of deception.

No matter how hard I tried to fight it...last Wednesday night...Mike was right! [Bill Simmons at ESPN is the biggest Homer ever. He hates hard on Kobe because he is a Celtic.]

Did you know?

I saw this at a a conference this week...pretty staggering stuff! I know it is anecdotal (most of it), but still interesting and worth the read.

If you are one in a million in China…there are 1,300 people just like you.

China will soon become the number one English speaking country in the world.

The 25% of India’s population with the highest IQ’s…is greater than the total population of the United States

Translation: India has more honors kids than America has kids

The top 10 in-demand jobs in 2010…did not exist in 2004.

We are currently preparing students for jobs that don’t yet exist...

...using technologies that haven’t been invented…

...in order to solve problems we don’t even know are problems yet

The U.S. Department of Labor estimates that today’s learners will have 10-14 jobs…by the age of 38

1 in 4 workers has been with the current employer for less than a year.

1 in 2 has been there less than five years.

1 out of 8 couples who got married in the U.S. last year met online.

There are over 200 million registered users on MySpace.

If MySpace were a country, it would be the 5^th-largest in the world (between Indonesia and Brazil)

The #1 ranked Country in broadband internet penetration is…Bermuda

#19 United States

#22 Japan

We are living in exponential times…

There are 31 billion searches on Google every month.

In 2006, this number was 2.7 billion.

To whom were these questions addressed B.G.? (Before Google)

The first commercial text message was sent in December of 1992.

Today, the number of text messages sent and received everyday, exceeds the total populations of the planet.

Years it took to reach an audience of 50 million…

…radio 38 years

…TV 13 years

…Internet 4 years

…iPod 3 years

…Facebook 2 years

The number of internet devices in 1984 was 1,000

1992…1,000,000

2008…1,000,000,000

There are about 540,000 in the English language

About 5x as many as during Shakespeare’s time

It is estimated that a week’s worth of the New York Times contains more information than a person was likely to come across in a lifetime in the 18^th Century

It is estimated that 4 exabytes (4.0 x 10¹⁹) of unique information will be generated this year.

That is more than the previous 5,000 years

The amount of new technical information is doubling every 2 years

For a student starting a 4 year technical degree this means that…

…half of what they learned in their first year of study will be outdated by their third year of study.

NTT Japan has successfully tested a fiber optic cable…that pushes 14 trillion bits per second down a single strand of fiber…

…that is 2,660 CDs or 210 million phone calls every second.

It is currently tripling every six months and is expected to do so for the next 20 years.

By 2013, a supercomputer will be built that exceeds the computational capabilities of the human brain.

Predictions are that by 2049, a $1000 computer will exceed the computational capabilities of the entire human species.

While you were reading this…

…67 babies were born in the United States

…274 babies were born in China

…395 babies were born in India

…and 694,000 songs were downloaded illegally