Fun With Foreclosures - 12/30/08 10:56 AM

One of my friends alerted me to this house that came up in my community and I think it's worth mentioning. It's also worth mentioning that I truly don't know all of the facts surrounding this sale but what I do know is pretty darn interesting...and certainly unusual for Foster City. My friend found a listing for this place on Zip Realty's site announcing that this house was for sale for $619,900. Comparable homes sell in the mid 900's. It's a 4 bedroom, 2 bath Eichler that's currently a bank owned foreclosure, and due to the fact that it's been extensively vandalized, offers on it must be in cash … (0 comments)

It's a Wonderful (Subprime) Life - 12/23/08 11:05 AM
I've always been crazy about the classic 1946 Jimmy Stewart film "It's a Wonderful Life". I'm sure the vast majority of you know this flick...it's on frequently at this time of year. In a nutshell, it's the story of how an angel helps a compassionate but despairingly frustrated George Bailey (Stewart) by showing what life would had been like if he never existed. I used to just cry at the end, but we watched it last week with our girls for the first time and both Lesley and I found ourselves crying within the first half hour! Every time I see it I … (3 comments)

Invest O Mania - 12/11/08 04:46 PM
Three or four years ago an agent in my office was all excited about the idea of buying investment property in Oklahoma. He had been visiting there and discovered that you could buy a property cheaply, rent these places out and have the most amazing thing happen...you could have positive cash flow! In other words you could rent these places out for more than your mortgage payment on them. He and some partners bought 15 of them! I chickened out and didn't join that party.
It wasn't too much later that we were visiting some family in Peoria, Illinois where we … (6 comments)

Endangered Species - 12/08/08 04:42 PM

I'll bet you thought it was extinct! No, not the winged frog above...I'm talking about the multiple offer driven home that closes escrow over the asking price. Believe it or not there are still a few of those around this area. One of them actually closed $125,000 over asking recently! All together there have been 40 single family homes in the 5 communities in our area close over asking since September 15...the day Lehman went belly up and the stock market started it's downward slide. To be fair, there's been 205 total closed escrows in those towns at the same time...and plenty of … (1 comments)

 
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Jim Minkey

Foster City, CA

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