August 22, 2018

The Ones Holding The Bag Will Be Investors

A report from NBC 2 in Florida. “For the first time in years, information from ATTOM Data Solutions said there is a nationwide increase in foreclosures. ATTOM said our area has seen an 11 percent increase in foreclosures from April to May, a 64 percent increase from May to June, and a 59 percent increase from June to July. The housing crisis hit Cape Coral as hard as anywhere. During the recession, half the homes Sam Yaffey sold were foreclosures. ‘There also has been some loosening of credit standards which is good for buyers. Before that you needed excellent credit and substantial down payment,’ said Yaffey.”

From CBS 4 Miami. “Last year rents dropped in Downtown Miami for the first time in years. Now the same thing may soon be happening, if not already, for home prices. One of the leading indicators of trouble is brewing is foreclosures. A new report out this week shows they are rising. More foreclosures and distressed properties often mean more pressure on prices.”

“In March of 2017, we met Jill Hornik, a renter, who noticed her rent was declining. ‘To live in Brickell, I think, it’s better to be a renter at this point. It’s my belief,’ Hornik told CBS4. Now, more than a year later, she continues to be right. Rents continue to drop.”

“Real estate broker Peter Zalewski predicted first it would be the rents. Now he’s calling for falling condo prices. Simply put there is excess supply and not enough demand. ‘What has happened is a competition. A race to the bottom by landlords who need to fill up their space and hopefully cover their expense. As this occurs some people no longer have the opportunity to rent it, because the rent will not cover the monthly expense, so what do they do? They list the property for sale,’ Zalewski said.”

“ATTOM put out a graphic of the United States. You can see summer has not been kind to the South, where foreclosure activity has been increasing the most. A closer look shows massive spikes in foreclosures compared to a year ago in Indianapolis, Houston, and Detroit. But perhaps the most alarming news is that several cities in Florida are seeing increases.”

“For the month of July, four cities saw significant upticks in new foreclosure filings. Jacksonville at 81%. Cape Coral at 59%. Orlando at 41%. South Florida at 29%.”

“Zalewski says he expects this trend to continue. The first victims are likely speculators. As the prices drop homeowners who bought more home than they could afford would be next. In other words, change is coming. ‘If you are a buyer, sit tight and get ready to pull the trigger. And take advantage. If you are a seller, better figure out what you are going to do. You either sell now or get a renter and you act very nicely to that renter. Make sure they stay in place and don’t try to raise the rent because chances are you are not going to get it,’ Zalewski said.”

“He does not believe this housing correction will be as significant as we saw roughly a decade ago. Zalewski believes the ones holding the bag, taking significant losses, will be investors and not banks. What remains to be seen is how far the correction will go. As condo developers stop building, everyone in and around the buildings can be affected. Zalewski points out it is less work for construction workers, furniture stores, installers, delivery drivers and on and on. Without work, the decline in an urban core can quickly move outward, as homeowners struggle to cover mortgages or rents.”




RSS feed

72 Comments »

Comment by Ben Jones
2018-08-22 17:15:47

August 17, 2018

A report from First Coast Connect in Florida. “Real estate broker Gabriel Miranda thought it could take a while to sell unit 905. The vacant condo is in Echo Brickell, a recently-built, sleek residential tower that overlooks Biscayne Bay and Key Biscayne. The building has elevators for cars, an enormous aquarium in the main lobby and a $42 million penthouse. But unit 905 has been on the market since February. And although its price has dropped more than 10 percent, making it the lowest-priced two-bedroom condo at Echo Brickell, Miranda is still waiting for a good enough offer.”

“Buyers from Latin America have fueled much of the boom, Miranda and other real estate analysts say. They have bought many of the new condominiums as investments in hopes of flipping and selling them for profits. But a lot of the units are vacant, and demand for them is lagging behind supply. The resulting glut is causing a decline in prices across greater Downtown, says Christopher Zoller, a realtor with EWM Realty International.”

“‘When you’ve got too many loaves of bread on the shelf, the next day you’re going to see day-old bread sold at half price,’ Zoller says, using a metaphor to describe the Downtown market.”

“In the greater Downtown area, there is a 32-month backlog of condos, says Peter Zalewski, a real estate consultant who runs the website cranespotters.com. Online listings show thousands of units for sale at luxury condo towers including Rise, SLS Brickell, the Bond and 50 Biscayne. Some of the condos are listed for more than $6 million, and others have been on sale for longer than a year. Values for several units have dropped more than 20 percent.”

“Many of the luxury condos for sale in Downtown are sitting unused. Zalewski walks around the area several nights each week and monitors the number of lights on to estimate how vacant the buildings are. There are obviously other reasons for the dark windows—snowbirds and people on vacation or just out for dinner. But Zalewski says the buildings, or ‘ghost towers,’ are unlit regardless of the day and time.”

“Zoller says the oversupply is forcing some people to sell their units for less than what they bought them for. And, on average, condos are staying on the market longer, making them less attractive to buyers who are turned off by units that have been on sale for a while. Zoller’s warning to clients: ‘If you don’t have to sell now, don’t sell now.’”

“But some people do not have that choice. And the glut is even affecting people who do live in their condos, like Deborah Shelton-Tynes. Shelton-Tynes owns two units at the Marquis across from Museum Park. She previously listed her units for about a combined $3.5 million in 2015 before deciding not to sell them. She’s now listing them for less than $2.3 million. ‘There’s just too much competition out there,’ she says. ‘By 2016, everything started to go down. I started watching properties going down.’”

“Shelton-Tynes, who plans on moving to Key West, says she will not drop her price because she can afford to wait for a buyer who is willing to pay more. But several other Marquis residents have already sold their units for losses, she says. People ‘lose their shirts.’”

“Seth Denison, a principal with the real estate firm Brickell Ventures, says prices will continue to decline as more units go on the market. Condo owners are now renting out their units until they are sold. And developers are even shelving projects until values rebound. “

http://thehousingbubbleblog.com/?p=10549

Comment by Ben Jones
2018-08-22 17:21:05

Deborah’s holding two bags.

Comment by Mafia Blocks
2018-08-22 17:24:08

Ms. Deborah Bagby

Comment by OneAgainstMany
2018-08-22 18:15:11

“‘When you’ve got too many loaves of bread on the shelf, the next day you’re going to see day-old bread sold at half price,’

Remember this one. I have a feeling this trope is going to be very indicative of some overbuilt segments in many markets.

(Comments wont nest below this level)
 
 
 
Comment by hunkydory
2018-08-22 19:39:09

When they say buyers from Latin Amerrrrricah, arent they really referring to the top echelon of various drug cartels? Who else down there has more than 2 dimes to rub together?

Carlos Slim cant be buying all of them. Maybe some of those bimbos on the mexican soaps with the large, uh, maracas and platinum blonde hair.

Comment by Ghost of Satoshi
2018-08-22 20:42:25

Probably shell companies located down south, catering to everyone from Eric Trump to the Chinese

 
Comment by snake charmer
2018-08-23 07:24:11

Much of the buying indeed is a vehicle for money-laundering by cartels and others. But there is a 1% in Latin America, too, that can afford to have a condo in Miami. Often people in this class will work for multinationals, speak English, and have one or more degrees from U.S. universities.

 
 
Comment by Professor 🐻
2018-08-22 23:13:59

“‘When you’ve got too many loaves of bread on the shelf, the next day you’re going to see day-old bread sold at half price,’ Zoller says, using a metaphor to describe the Downtown market.”

The day-old bread is the low-end stuff that Oxide assures will be unaffected by the lux collapse.

Comment by Ben Jones
2018-08-23 07:30:39

Sorry about the delays. I lost wifi for about 12 hours.

 
Comment by oxide
2018-08-23 08:09:25

No, the day-old bread is the $100K car on sale for $75K. Low-end buyers are still taking the bus.

 
Comment by Mafia Blocks
2018-08-23 08:16:05

“The day-old bread is the low-end stuff that Oxide assures will be unaffected by the lux collapse.”

Nevermind the fact that lux falling to the same price as low end stuff blows that DonkeyLogic out of the water.

 
 
 
Comment by Mortgage Watch
2018-08-22 17:16:08

Morro Bay, CA Housing Prices Crater 5% YOY As San Luis Obispo County Crime Goes Off The Charts

https://www.movoto.com/morro-bay-ca/market-trends/

 
Comment by Ben Jones
2018-08-22 17:17:49

This is the wild card. The foreclosures won’t help:

‘What remains to be seen is how far the correction will go. As condo developers stop building, everyone in and around the buildings can be affected. Zalewski points out it is less work for construction workers, furniture stores, installers, delivery drivers and on and on. Without work, the decline in an urban core can quickly move outward, as homeowners struggle to cover mortgages or rents’

Comment by Mike
2018-08-22 17:30:16

I have to think average income to home prices is pretty lopsided in FL. According to this article, you need a $70,360 salary to afford a home in FL, yet the average household income is $50,860.
If the construction, RE and services suffer from another downturn, that discrepancy will only get bigger

Comment by Ben Jones
2018-08-22 17:55:47

My understanding is the price per square foot of Miami Beach is far higher today than last decade. The same is almost certainly true of NYC and Boston. And there’s a bunch more of them. I don’t know about the entire effect, but the global decade of “safe deposit boxes in the sky” is going to leave a mark.

 
 
Comment by snake charmer
2018-08-23 07:26:31

“He does not believe this housing correction will be as significant as we saw roughly a decade ago. Zalewski believes the ones holding the bag, taking significant losses, will be investors and not banks.”
______________________________________/

But didn’t banks lend to the investors? Maybe I’m missing it. Unless banks simply will pass “the bag” to the taxpayer, with the assistance of our bribed Congress of course.

 
 
Comment by Ben Jones
2018-08-22 17:19:29

‘our area has seen an 11 percent increase in foreclosures from April to May, a 64 percent increase from May to June, and a 59 percent increase from June to July. The housing crisis hit Cape Coral as hard as anywhere. During the recession, half the homes Sam Yaffey sold were foreclosures. ‘There also has been some loosening of credit standards which is good for buyers. Before that you needed excellent credit and substantial down payment’

Maybe Sam should ask those local FB’s if it was good for buyers?

Comment by Boo Randy
2018-08-22 17:27:47

Yaffey should be horse-whipped on general principle. Those without excellent credit and a substantial downpayment shouldn’t be buying houses - especially insanely overpriced houses.

 
 
Comment by Mortgage Watch
2018-08-22 17:20:29

Encino, CA Housing Prices Crater 5% YOY As Flood Of Housing Inventory Accelerates California Housing Bust

https://www.movoto.com/morro-bay-ca/market-trends/

Comment by John
2018-08-22 19:14:29

Same # of listings as 1 year ago, $/sq ft up slightly, days on market up slightly.

 
 
Comment by Boo Randy
2018-08-22 17:33:00

As this occurs some people no longer have the opportunity to rent it, because the rent will not cover the monthly expense, so what do they do? They list the property for sale,’ Zalewski said.

Do continue, Zalewski. The speculators and FBs will then discover that in a bursting housing bubble, the supply of Greater Fools suddenly dries up. Then they have two options: slash their price to reflect new market realities, or let their shack go into foreclosure.

We will list the five stages of grief as they contemplate their next move.

Comment by Ben Jones
2018-08-22 17:57:13

IMO, it’s speculation that caused the big surge in Orange County listings as well. These people didn’t all decide to move at the same time.

Comment by Professor 🐻
2018-08-22 23:19:39

They did all decide to dump their HODLings at the same time.

 
 
 
Comment by Mortgage Watch
2018-08-22 17:59:46

Cape Coral, FL Housing Prices Crater 7% YOY As Market Floods With Deceased Boomer Housing Inventory

https://www.movoto.com/cape-coral-fl/market-trends/

 
Comment by Mr. Banker
2018-08-22 18:32:53

“What remains to be seen is how far the correction will go. As condo developers stop building, everyone in and around the buildings can be affected. Zalewski points out it is less work for construction workers, furniture stores, installers, delivery drivers and on and on. Without work, the decline in an urban core can quickly move outward, as homeowners struggle to cover mortgages or rents.”

Don’t fofget to add to these negative effects on the economy the negative effect of vanishing equity wealth brought about by declining RE values (aka RE prices).

 
Comment by Anonymous
Comment by Mr. Banker
2018-08-22 19:38:12

😠

 
 
Comment by Boo Randy
2018-08-22 19:43:11

I’m starting to see some of the same words cropping up, namely:

Affordability
“Softening” (realtor-talk for cratering)
Shortage (not!)
Panic
Foreclosures

And added to the list: subprime. Familiar word, that.

https://wolfstreet.com/2018/08/21/credit-card-balances-delinquencies-charge-offs/

Comment by Boo Randy
2018-08-22 19:49:16

B…b…but strong economy!

Delinquencies soar past Financial-Crisis peak at the ca. 5,000 smaller US banks, and these are the Good Times. What’s going on?

Comment by Professor 🐻
2018-08-22 23:22:46

“… and these are the Good Times. What’s going on?”

In short, the worst is yet to come.

 
 
Comment by Mr. Banker
2018-08-22 20:42:11

Good article, good comments too. Here’s a couple …

“In effect since it is the smaller banks that are affected we need not fear a bail out any time soon.”

“The bigger banks will absorb them for pennies on the dollar.”

“Mission Accomplished!”

Probably true. Stay tuned.

 
Comment by oxide
2018-08-23 04:35:58

Don’t forget “lucky ducky.” We haven’t heard that word in a while either, even though it’s been happening this entire time. Furniture stores and delivery drivers don’t pay six figures.

 
 
Comment by Apartment 401
2018-08-22 20:06:50

falling condo prices

Denver filtered on condos and townhouses under 400K only:

https://www.zillow.com/homes/for_sale/Denver-CO/condo,townhouse_type/11093_rid/0-400000_price/0-1590_mp/globalrelevanceex_sort/40.045488,-104.325486,39.482845,-105.385666_rect/9_zm/

Many of the price cuts are recent, why is that National Association of Realtors?

Comment by Ben Jones
2018-08-22 20:12:00

One of those:

2809 Syracuse Ct UNIT 229, Denver, CO 80238
3 beds 2 baths 1,148 sqft
Auction
Foreclosure Estimate: $170,701
Investor opportunity! This property is being offered at Public Auction on 08-30-2018…The majority of these properties are priced below market value. Don’t miss this special opportunity to buy homes at wholesale prices! In addition to this property, 6 other properties are scheduled for sale at this same Foreclosure Sale. In our online auctions and live Foreclosure Sales, Auction.com currently has 25 properties scheduled for sale in Denver County and 293 throughout Colorado.

BTW, don’t use auction.com. They bid on behalf of the lender (at the last second) which means they stack the deck.

Comment by Apartment 401
2018-08-22 20:23:00

There seems to be a common current of dishonesty among these so called Realtors…

Comment by Boo Randy
2018-08-22 20:27:31

Denver realtors have particularly unsavory reputations. In Colorado Springs and Manitou Springs, there are still some quality longtime realtors who are professional and ethical.

(Comments wont nest below this level)
 
Comment by Mr. Banker
2018-08-22 20:43:28

You use what works.

(Comments wont nest below this level)
 
 
Comment by Boo Randy
2018-08-22 20:23:22

While some apartments in Colorado Springs are offering price reductions and a free month’s rent, this one is offering FREE COFFEE!

(I think it costs me about $.25 a cup to brew my own Peets in the morning…so as compelling as this amazing deal is, I think I’ll pass.)

https://cosprings.craigslist.org/apa/d/free-coffee-every-morning/6675446028.html

 
Comment by BubblevilleCA
2018-08-22 20:37:03

That will bite them in the arse when they end up the highest bidder but I’m guessing they cover that by offering the previous bidder a second chance on the auction. There’s another site called hubzo that even realtors have told me is a “little” fishy with the RE auction process…

 
Comment by Anonymous
2018-08-22 20:39:05

Do people get a chance to look at the property, let alone have it inspected, before bidding?

 
Comment by Professor 🐻
2018-08-22 23:25:39

“They bid on behalf of the lender (at the last second) which means they stack the deck.”

No collusion!

 
 
Comment by Mafia Blocks
2018-08-22 23:02:39

Realtors are liars

 
 
Comment by Boo Randy
2018-08-22 20:15:38

Another globalist stooge gets the heave-ho, replaced by a “right wing populist” in Australia. Huh…do you suppose the historic populations of places like Europe, Australia, the US and the UK are fed up with open borders, unfettered neoliberal looting, and selling off their country to Chinese “investors”?

https://www.zerohedge.com/news/2018-08-22/populist-shock-aussie-dollar-tumbles-after-pm-turnbull-loses-cabinet-support

Comment by Ghost of Satoshi
2018-08-22 20:51:31

Right wing populist in the west these days means…instead of letting in 3 million “refugees” a year, they’ll only let in 1 million.

Game over…to late.

Comment by Boo Randy
2018-08-22 20:54:27

Better than “former” Goldman Sachs official Turnbull.

 
 
Comment by Anonymous
 
Comment by Anonymous
 
 
Comment by Boo Randy
2018-08-22 20:35:48

“At a late stage, speculation tends to detach itself from really valuable objects and turn to delusive ones. A larger and larger group of people seeks to become rich without a real understanding of the processes involved. Not surprisingly, swindlers and catchpenny schemes flourish.”

Robert Z. Aliber and Charles P. Kindleberger, Manias, Panics and Crashes

Comment by CryptoNick
2018-08-23 02:45:14

Bitcoin ‘hodlers’ await next cryptocurrency growth spurt
21.08.2018

A further drop in the value of Bitcoin and other cryptocurrencies has recently left investors nursing heavy losses. Many proponents are holding out for a new breakout, if their digital assets can go mainstream.

Social Media influencers may be predicting an “insane recovery” soon in the value of Bitcoin and other cryptocurrencies, but many would-be investors can only look longingly at last December’s $19,764 (€17,154) price, and wonder ‘What have I just missed?’

2017 was a stratospheric year that saw Bitcoin grow almost 2,000 percent from barely $1,000 in January to eye-watering all-time highs. This year, however, holders of the world’s biggest digital currency have seen much of their considerable profit disappear.

Last week, Bitcoin fell further — below $6,000, having traded as high as $8,000 since the start of the summer. The likes of Ethereum, Litecoin and Zcash — which are all traded online, independently of central banks, all saw similar falls.

 
 
Comment by Ghost of Satoshi
2018-08-22 20:49:52

Irvine is still drinking the kool-aid…this one will probably sell quickly. Apparently we are the last strong hold of easy money, and Chinese FOMO

https://www.movoto.com/irvine-ca/17-silver-cres-irvine-ca-92603-202_oc15067364/for-sale/

When will the insanity end?

Comment by MGSpiffy
2018-08-22 21:37:11

Notice anything about that listing?

Look at the “Compare Similar Homes Section” which lists 4 nearby homes… What do I see?

..For Sale, 62 Days

..Price Reduced, 35 days

..Price Reduced, 58 days

.. For Sale, 57 Days

(sings) “Where oh where did the bidding wars go.. Oh where or where can they beeeee…”

 
Comment by octal77
2018-08-23 08:35:34

17 silver crescent has been on the market for quite a while:

17 Silver Crescent
Irvine, CA 92603

$1,448,888

MLS# AR18040760

Jun 1, 2018
Price Changed
CRMLS #AR18040760 $1,448,888 —
Apr 11, 2018
Price Changed
CRMLS #AR18040760 $1,499,990 —
Mar 19, 2018
Price Changed
CRMLS #AR18040760 $1,499,999 —
Feb 21, 2018
Listed (Active)
CRMLS #AR18040760 $1,560,000 —
Jun 3, 2016 Sold (MLS) (Closed Sale)
CRMLS #OC16085219 $1,450,000 —
May 27, 2016 Contingent (Active Under Contract)
CRMLS #OC16085219 — —
May 27, 2016 Pending (Pending Sale)
CRMLS #OC16085219 — —
Apr 28, 2016 Contingent (Active Under Contract)
CRMLS #OC16085219 — —
Apr 22, 2016 Listed (Active)
CRMLS #OC16085219 $1,499,900 —
Oct 1, 2015
Delisted (Withdrawn)
CRMLS #OC15067364 — —
Aug 22, 2015
Price Changed
CRMLS #OC15067364 * —
Jun 24, 2015
Price Changed
CRMLS #OC15067364 * —
May 28, 2015
Price Changed
CRMLS #OC15067364 * —
May 11, 2015
Price Changed
CRMLS #OC15067364 * —
Apr 21, 2015
Price Changed
CRMLS #OC15067364 * —
Apr 6, 2015
Price Changed
CRMLS #OC15067364 * —
Apr 1, 2015
Listed (Active)
CRMLS #OC15067364 * —
Mar 31, 2015
Delisted (Expired)
CRMLS #OC14215846 — —
Feb 19, 2015
Relisted (Active)
CRMLS #OC14215846 — —
Feb 18, 2015
Delisted (Expired)
CRMLS #OC14215846 — —
Oct 8, 2014
Listed (Active)
CRMLS #OC14215846 * —
May 31, 1996
Sold (Public Records)
Public Records $445,000 —

 
 
Comment by goedeck
2018-08-22 20:54:22

Boo YBMTI
Australian house prices down; hey maybe a way to get them higher: a weaker Aussie dollar lol.

https://www.zerohedge.com/news/2018-08-22/populist-shock-aussie-dollar-tumbles-after-pm-turnbull-loses-cabinet-support

 
Comment by Professor 🐻
2018-08-22 21:22:40

Staring the next war in the face, and already completely out of bullets…

The Financial Times
US interest rates
Fed frets over ability to fight next recession
While affirming more rate rises soon, central bank officials turn minds to long term

Comment by hwy50ina49dodge
2018-08-22 21:55:53

Trillion$ dollar$ Defict$ … don’t matter$!

just.you.wait$ & $ees

Comment by Neuromance
2018-08-23 04:51:05

Debt causes economic fragility.

Comment by Boo Randy
2018-08-23 06:29:54

Debt is slavery.

(Comments wont nest below this level)
 
Comment by Mafia Blocks
2018-08-23 07:17:36

Cratering housing prices cause enragement.

(Comments wont nest below this level)
 
 
 
 
Comment by Neuromance
2018-08-23 04:49:23

As condo developers stop building, everyone in and around the buildings can be affected. Zalewski points out it is less work for construction workers, furniture stores, installers, delivery drivers and on and on.

I’ve always been bemused by the PTB pushing of debt. I get how a business going into debt to build out creates a lasting wealth pump for society. I also get how going into debt to build a house employs a lot of people.

BUT - what about going into debt to say, buy a used car? OR an existing house? Same debt as building new but very few people benefit. Yet there is a huge system to encourage taking on debt for existing house purchases.

Follow the money I suppose.

Comment by OneAgainstMany
2018-08-24 20:08:59

There is an economic benefit that accrues from economic actors buying used cars and houses. What matters though is what the price is. Those who buy a used house essentially support a secondary market, which means that the seller of the house (or car) now has more money than he/she would otherwise have and can consume more.

The lack of a secondary market reduces aggregate demand. For example, the fact that much of new music sales are digital means that it is increasingly difficult to resell an album or a song one has purchased, as was the case with a physical music purchase, to a buyer. This probably means slightly higher music sales in some areas, but perhaps lower overall consumption in total because there are digital songs that are essentially stranded and for which no further value can be extracted once the song is not worth holding onto for the original purchaser.

 
 
Comment by Boo Randy
2018-08-23 05:52:24

The financial reckoning day, when it can no longer be deferred by the central bankers’ deranged money printing, is going to be cataclysmic for the debt donkeys and the banks that fed their spending and speculation habits.

https://www.scmp.com/news/china/economy/article/2161037/chinese-banking-sector-warned-it-faces-day-reckoning-decade-easy

 
 
Comment by Boo Randy
2018-08-23 05:59:58

FBs and speculators who just had to get on that property ladder in London despite the insane prices must be getting that sinking feeling as they read the headlines.

http://www.dailymail.co.uk/money/mortgageshome/article-6087083/Londons-housing-market-facing-uncharted-waters-remortgaging-levels-reach-nine-year-high.html

 
Comment by azdude
2018-08-23 06:28:51

does a recession mean that risk assets prices fall?

Comment by Boo Randy
2018-08-23 06:58:52

Just your’s.

 
 
 
Comment by Boo Randy
 
Comment by Crispy&cole
2018-08-23 07:08:43

New homes sales falling.

 
Comment by Mortgage Watch
2018-08-23 07:12:03

Bethesda, MD Housing Prices Crater 10% YOY As Federal Layoffs Ravage NoVA/DC Area

https://www.zillow.com/bethesda-md-20817/home-values/

*Select price from dropdown menu on first chart

 
Comment by Lisa
2018-08-23 07:12:44

“Zalewski says he expects this trend to continue. The first victims are likely speculators. As the prices drop homeowners who bought more home than they could afford would be next.”

Uh, I’d say folks who bought more house than they could afford are speculators just the same.

Good thing there’s not a lot of them. 😱

 
Comment by BubblevilleCA
2018-08-23 07:27:08

These bag holders 😂

https://www.zillow.com/homedetails/101-Jewell-St-UNIT-7-Santa-Cruz-CA-95060/2090668903_zpid/

BUILDER BLOWOUT SALE! 101 Jewell Street #7 Was 699k on sale for $710k only 5 shacks left (well 8 out of 11 if you count the pending 3 that haven’t finalized escrow). Marketing my friend, marketing…

Comment by aNYCdj
2018-08-23 16:22:10

its odd that very few listing ever have a floor plan to see. Interesting never seen a microwave in the center kitchen counter before.

 
 
Name (required)
E-mail (required - never shown publicly)
URI
Your Comment (smaller size | larger size)
You may use <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong> in your comment.

Trackback responses to this post