Housing Doom

A nation that forgets its past is doomed to repeat it. - Churchill

April 7th, 2008

Short Sale: “Tenant Hasn’t Paid In A Year”

L sent me the following listing, and it’s priceless:

Short sale opportunity - tenant hasn’t paid rent in a year - eviction unsuccessful. Hired an attorney and made false claims about who owned the property and got the eviction quashed. No time or money to fight it - giving property back to bank. Perfect for investor who wishes to make an offer and kick tenant out after closing. If not sold by march 30 - giving deed in lieu of foreclosure.

 

And for those of us without access to the Realtor remarks, L also sent us the following note:

SORRY–HOME CANNOT BE SHOWN - I HAVE AN APPRAISAL DONE A YEAR AGO FOR 256K - HAS PICS.  OWNER/AGENT

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April 7th, 2008

Crack of Doom: Subprime Contagion Hitting Botox Market

It’s Monday, and it looks like nothing is safe from the subprime contagion:  [Thanks L!]

It used to be a high point of Goldy Anthony’s life. Every six weeks or so, as a kind of personal morale booster, she and a group of girlfriends would make appointments to see a Beverly Hills plastic surgeon for little touch-ups — getting lips plumped and frown lines on the forehead smoothed out. He was "an artist" with Botox and Juvederm, she said.

Afterward, in a carefree mood, the ladies would dine at a popular restaurant on the Sunset Strip.

No more. The sub-prime loan crisis, the housing slump and the general decline of the economy have claimed another covey of victims. Anthony is in the real estate business, and under current conditions, the cosmetic treatments — at $1,800 or more a pop — can no longer be squeezed into her budget. It’s the same with others in the group.

"We used to make appointments together," Anthony said. "Then they started saying, ‘I can’t go next week.’ People didn’t have the money, but they were ashamed to tell you."

"I would rather have Botox than go out to dinner, but it’s just gotten so bad," said Anthony, 41, who is looking for a job since her career in the mortgage business went sour. She has not had the facial treatments in months.

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