Dr. Housing Bubble 09/15/09

[Crewleader]

Real Homes of Genius: Pasadena Home and Bring Your Own Bulldozer.
Flipping Homes in the Worst Housing Market in a Century. Granite Countertop Redux.

If you thought flipping homes was over, think again. If you thought HGTV inspired granite countertops were a thing of dreams, it is time to open your eyes once again. The California housing bubble mentality is back and it is bringing back the gold rush housing mentality. It is tunnel focused and it fails to see the Alt-A and option ARM tsunami knocking on the door waiting to crest in 2010. The shadow inventory is so lucrative, that you have ex-Wells Fargo senior executives throwing parties in homes instead of showing the home to potential clients. But today, we have a fantastic blast from the past.

A reader sent in a home that I covered in Pasadena back in November of 2008. Covering over 120+ Real Homes of Genius in Southern California, I had to put my thinking cap on. Once I clicked on the link I immediately remembered, “bring your own bulldozer.”

Some real estate ads are crafted with the words of an elementary school poem. This home when it was listed the first time had some crafty wording that left many of us speechless. I saved some of the wording from the original ad:

“Bank approved sale pueblo with potential and amazing short sale / foreclosure opportunity to craft your own southwest environment in development hot north /west pasadena one of two side by side properties now available.”

http://www.doctorhousingbubble.com/real-homes-of-genius-pasadena-home-and-bring-your-own-bulldozer-flipping-homes-in-the-worst-housing-market-in-a-century-granite-countertop-redux/