Imperial County New Home Market Pumpi...

Imperial County New Home Market Pumping Up the Sales

There are 16 comments on the WebWire story from Apr 18, 2009, titled Imperial County New Home Market Pumping Up the Sales. In it, WebWire reports that:

Beginning in the second quarter of 2008, three consecutive quarters set net sales records in the Imperial Valley new home market.

Join the discussion below, or Read more at WebWire.

“I'm a Multifacted Personality ”

Since: Nov 07

West Shores of the Salton Sea

#2 Apr 20, 2009
SCSD Director Barrett wrote:
Another misleading statistical enomoly in Salton City is that most of the homes sold here recently have been construction loan foreclosures.
The homes were 100% brand new but the builders defaulted on their construction loans and then the homes were bought by some families but mainly by investors.
Most of all the homes being sold are REO (Bank Owned) properties. The families that bought the homes a few years ago, couldn't afford the payments after the "newlywed phase" of their loan was up. That has to do more with the Mortgage Loan Brokers than Real Estate Agents.

Stick to your electricity, or slamming your Board of Directors. That at least you're an expert in ;P.
Saltonwill

Redmond, WA

#3 Apr 20, 2009
There are at least 70 homes for sale in Salton City that have never been occupied. A lot of them are bank owned becuase the builders defaulted on the construction loans and just gave them bank to the bank. Look around Vista Del Mar. There are ten houses that were framed and sheathed but never finished. Nobody has ever lived in them and they have never had a mortgage.
There is a house at 1015 Treasure. It's on the way to Johsons Landing. Never been lived in and a comparable sale for the same house three years ago can be found for $240,000.00. I bet you could get that house for $90,000.00 and it is in fact a builder "walk away". It's a pretty nice house and it was built by a good builder.

You can blame everyone from the builders to the loan brokers to the real estate agents.It doesn't matter. The fact is the houses weren't selling and everyone involved took a big hit.
Salton Sea Resident34

United States

#4 Apr 21, 2009
Mr Barrett is a non-informed "person". he shoots his mouth off before he speaks. Mr B wants eveyone to think the "housing crisis" is unique to SaltonCity, its not! its all over the USA. MrB wants all to think he is King, hes not Butler/Palmer are they are the ones who caused the extra fees to be placed on the builders & developers. and Now THEY do not want to give the money back like they were court ordered to.(Didn't know we knew about that, did you Mr. B)
ms Love, dispite her mis-givings, know more about your job than you will ever learn. Her comments about the newlywed loans were right on track. People were (unknowenly) getting very deffered loan payments for 4-5 years and then they jumped up as much as 250/200%. this clearly was the fault of lenders who got greedy.

ok, so I dont know what Im talking about, but at least I am not Palmer, butler or barrett ! The three stooges who bankrupted the community serivices district.
Salton Sea Resident33

Harrisonville, PA

#7 Apr 25, 2009
see, he does't want to talk about it now, cause he knows what he tells us, is "toro-caca" !
Anybody know what is happening with the "recall" petition that going around?
In the know

United States

#9 Apr 26, 2009
Just to clear up part of a post on this thread. The District has never been or is now under any court order. No goverment agency other than one grand jury has investageted the District and that investagation found nothing wrong. The little man keeps putting out the coolaid and some would rather drink his coolaid than find out the truth.
In the know

Silsbee, TX

#12 Apr 27, 2009
Show me the court order, little man!!!!!!!!
michaelspinnerhe ad

Chula Vista, CA

#14 May 6, 2009
I just bought a three year old house in Salton City for $40,000. I'm told that it originally sold for $185,000. However I didn't buy it as an investment, I bought it because I truly love the area and with the prices so low, I couldn't go wrong. Personally I don't care if the house goes up or down in value, I feel at home here and that is all that counts. You may all think I'm nuts but as my name implies, my head is spinning with excitement.
S S R

Rosemead, CA

#15 May 9, 2009
michaelspinnerhead wrote:
I just bought a three year old house in Salton City for $40,000. I'm told that it originally sold for $185,000. However I didn't buy it as an investment, I bought it because I truly love the area and with the prices so low, I couldn't go wrong. Personally I don't care if the house goes up or down in value, I feel at home here and that is all that counts. You may all think I'm nuts but as my name implies, my head is spinning with excitement.
Welcome to the neighbor hood, your right, this is a nice area, quite (escept for the local politics & name calling.
michaelspinnerhe ad

Chula Vista, CA

#17 May 17, 2009
I think with the right people buying the above mentioned foreclosures, this area can really take off in the right direction. Also this part of my comment goes out to SSR to say thank you for welcoming me to the neighborhood. Its been several days living here now and there are no regrets to date. Maybe we should consider some sort of social club of residents who feel as I do about the positive of the area so we can help one another to achieve the change on how the outside world views this place to one more favorable.
S S R

United States

#18 May 19, 2009
michaelspinnerhead wrote:
I think with the right people buying the above mentioned foreclosures, this area can really take off in the right direction. Also this part of my comment goes out to SSR to say thank you for welcoming me to the neighborhood. Its been several days living here now and there are no regrets to date. Maybe we should consider some sort of social club of residents who feel as I do about the positive of the area so we can help one another to achieve the change on how the outside world views this place to one more favorable.
on may 21, at about 6pm at the chamber of commerace in salton city thier will be a mixer. you might want to stop by, introduce yourself & family. it will give you an opportunity to meet others from this area. You should also know "adult drinks" will be available. Would like to meet you.
michaelspinnerhe ad

Chula Vista, CA

#19 May 19, 2009
Thank you SSR but I'll have to wait for the next one since on that date I'll be in Arizona. Do they have those mixers every month? If so, please inform me of the June mixer and I'll try to convince my employer to let me be home on the date it occurs. It will be interesting.

“Grower Of Native Desert Plants”

Since: May 09

Goodyear, Az and Hammond, In

#20 May 28, 2009
I am about to buy a home on Persimmon Ave. Any help or info would be appreciated. I am retired and looking for a peaceful place to live, as my income is very limited and that area looks to be very affordable.

“I'm a Multifacted Personality ”

Since: Nov 07

West Shores of the Salton Sea

#22 May 29, 2009
AZFred wrote:
I am about to buy a home on Persimmon Ave. Any help or info would be appreciated. I am retired and looking for a peaceful place to live, as my income is very limited and that area looks to be very affordable.
Hey Fred it was good to talk to you today, have a safe trip down.

“Grower Of Native Desert Plants”

Since: May 09

Goodyear, Az and Hammond, In

#23 May 29, 2009
Imari Love wrote:
<quoted text>
Hey Fred it was good to talk to you today, have a safe trip down.
Thanks for the reply, and if I do not see you monday, I will keep you advised of the progress on the purchase of the property. Also will be looking into the California Dept. of Agriculture in order to get licensed.
michaelspinnerhe ad

San Diego, CA

#24 May 29, 2009
Hi Fred, its an affordable, quiet and good place to live. I congratulate you on the purchase of your home. I just went through one myself and except for leaving town occsionally for my boss, I think you will have no regrets living here. Lets keep note on this and maybe someday we can organize a social homeowners club or something similar. Welcome!

“Grower Of Native Desert Plants”

Since: May 09

Goodyear, Az and Hammond, In

#25 May 30, 2009
michaelspinnerhead wrote:
Hi Fred, its an affordable, quiet and good place to live. I congratulate you on the purchase of your home. I just went through one myself and except for leaving town occsionally for my boss, I think you will have no regrets living here. Lets keep note on this and maybe someday we can organize a social homeowners club or something similar. Welcome!
Thanks Mike for the reply, and am looking foreward to the move. The Phoenix area has become more like the LA area and I am sick of it. I prefer to live a slower lifestyle and think Salton Sea looks wonderful to me. I realize there are some drawbacks, but anywhere one goes there are many reasons to object to living there. Salton seems to have less of the problems from my perspective. I have many nursery people and plant propigators, in California that I have done business over the years, and am looking foreward to visiting them in the future. For me this is a perfect move.

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