Wednesday, September 12, 2007

410 Avocado New Dress and Lipstick

Everbody remembers this diamond in the rough [1, 2, 3]. A few days after blogging about this Countrywide REO somebody got "the word." A clean team rushed in and cleaned up all the crap and mostly secured the property. And now the property is off the Countrywide REO site and offered by Coldwell Banker at an amazing $250,000 reduction. So, when you read about Countrywide cleaning up their balance sheet you've got to wonder what's really going on. Was on their books a bit under $1m and suddenly not on their books but still apparently for sale. Makes me wonder about their balance sheet claims in general. Here's the Realtor.com description:

REDUCED $250,000 [$949,900]. Los Posas Estate that needs help! Great location, large lot, pool, spa, and two story house with a garage that opens to the backyard. So much potential here. Has the remains of a Koi farm with separate breading pools on the right side of property in the back. Check with the HOA regarding the use. Could be a fabulous estate with a lot of TLC.
----

"Separate breading pools" eh? That way when it comes whiskey and gunpowder time you can grow and prepare your own private fish fry.

UPDATE: The house has "reappeared" on the Countrywide list http://www.streamfx.com/CW/9-12-2007/REO-California4.html

54 comments:

H Simpson said...

first!

H.

wagga said...

Still twice as much as the Dawg is willing to pay for it.

Legion said...

"Has the remains of a KOI farm?"!!!!

C'mon Rob you added that part right?

Legion said...

@TK

Indeed fraudster house sounds really good!

Swim with the koi, take a dump in the half finished toilet which clogs up half the time. Notice the mold that was painted over suddenly spring back to life. Inhale the radon and sewer system. Join the family of rats that live in the attic for tea and crumpets. Have crack addicts and the homeless visit on a regular basis.

Oh and the best part. THEY HAVE TO PAY RENT!

Peripheral Visionary said...

Why do real estate agents put "Reduced" in the listing? It just doesn't look good. "Priced to Move" or "Must Sell" is much more enticing . . . the impression should be that there's urgency on the part of the seller, not that it's languished on the market for months (although we're going to start seeing properties that have been on the market for *years* . . . )

ratlab said...

I totally skipped over the breading part, but I'm glad Dawg didn't. Fish fry comment... priceless.

aaron said...

check this out. fingers in the dike mentality.


Paulson calls for expansion of mortgage products

http://www.marketwatch.com/news/story/treasurys-paulson-calls-expansion-mortgage/story.aspx?guid=%7B5661F892%2DBB3D%2D4CCA%2D843A%2D930045BBFEE9%7D&siteid=yhoof

Rob Dawg said...

The koi tanks are inhabited by a school of fat mosquito eating fish. No doubt the county put them there.

$250,000.00 down, $480,000.00 to go.

Bakersfield Bubble said...

FBI RAID GOING ON RIGHT NOW!!!!

Rob Dawg said...

Bakersfield Bubble,
Good news finally. FBI no less. 13 sites. ZZZZbest all over again. They won't need to do any deals with the perps. They can send tham all to jail with what they've got.

410 Avocado is killing comps in my 'hood. Bakersfield is just waking up to discover that at least half their bubble was C&C manipulation. and all the pliant appraisers are going to jail. If you were an appraiser and you just saw the 30% padding C&C were floating wouldn't you now be pricing at least 20% lower than you were last week?

Legion said...

Oh man! FBI is raiding all things crispy and cole! You know all the canaries are gonna be coming out of the woodwork to testify against them just to save their own skin.

Seriously though, what the hell has happened to us? When is enough enough for these guys? Enron, crisp and cole, they already had millions but just had to keep fucking with everybody. Totally disgusting.

Bakersfield Bubble said...

YES!

Finally.

I just left the scene. FBI all over the place along with media and some loser blogger (that was me).

Also went by a couple of the other locations.

Legion said...

@BB

was there any shit on the fans at the locations?:-) Or was it just in the employees' pants?

Legion said...

Oh qwell, crisp can make some moeny by selling his plane..oh wait, he was leasing it at 25k per hour..oh well how about his half mil car...oh was it reposessed? At least he has his houses..oops all in default.

Legion said...

the sad thing is crisp is bringing his and his wife's entire family down with him.

Off to fraudster house they go!!!!

Rob Dawg said...

You've got to imagine every lender that ever did business in the last few years has a "tiger team" pouring over their past C&C transactions. Cramdowns and title insurance claims are sure to explode.

Man, I'd have a team in BKfield right now physically going door to door to every loan I own and/or service verifying owner occupnacy and such.

Rob Dawg said...

Legion,
What's wrong with Mrs. Crisp going down? Did she sign? Did she partake of the ill gotten gains?

Northern Renter said...

RDawg sez
"Legion,
What's wrong with Mrs. Crisp going down? Did she sign? Did she partake of the ill gotten gains?"

Well, if she was involved in her husband's business dealings, then she got burned.... to a Crisp!

NR

PS Thanks folks I'm here 'til Friday. Try the breaded koi.

TK said...

I feel bad for Crisp's two kids (and ex-wife) who will not see any child support payments for a loooooong time. LOL @ second wife who thought she hit the jackpot. Wife #1 probably choking back laughter while trying to figure out how she will cover the monthly expenses Mr. $560,000 Mercedes was covering. I suppose David can always sell his $50,000 Chanel watch. Or one of his 12 other cars. Or maybe he can ebay a few of his $10,000 Valentino suits.

Ah hahahahahahahaha!



Side note:
Funny Circus Bears, looks like people got "the word" on CFC's REOs as well. Less willing to toss good money after bad. Did you get stopped out today or are you waiting for the dead cat bounce?

TK said...

"Five years ago, the Stockdale High grad was waiting tables at a now-defunct Mexican restaurant and loading UPS trucks."

Wonder if UPS will re-hire a convict? There's always the Mexican restaurant...

"Did I fake it till I made it?" he said. "Yeah. I'm not going to lie."

Snort!

"If you look successful, people assume that you're doing really well, he said."

Those bright orange prison jumpsuits have an equalizing effect that will irritate him to no end. A guy with his arrogance and history will get daily beatings. Mr. Soft-Hands who used to live the high life off the backs of the working class is gonna get his ass beat - a lot.

Peripheral Visionary said...

I can't speak to Mrs. Crisp in particular, but too often there are innocent family members who suffer. If not the wife, then at least the children, who have to grow up with the shame of having a parent who is in prison and hated by the community. Very tragic.

And in many cases, the spouse's involvement was minimal to none--of course the spouse may have wanted a comfortable life, but if that was a crime, we'd all be in jail. The spouse may not suffer the judicial punishment, but they often suffer the financial--and social--punishment. It reminds me of the scene in "Middlemarch" where Mrs. Bulstrode can't understand why the other women in the town won't speak to her, until she discovers that her husband's previous crimes--of which she had no knowledge--have come to light.

H Simpson said...

the good news is the Casey never had the boat, the cars, the bling. And he never used the houses (too lazy to fix them).

He just screwed the pooch, his wife, the family, and all his partners.

Not hard to slide down the ladder when you never got up a rung..

H.

Lost Cause said...

You can bread the koi, and breed malaria and typhus.

soem dood said...

For anyone too lazy to Google...

Legion said...

Granted most of them had knowledge of the crimes, what I am saying is, like Casey, a lot of these people would not have gotten into their predicament if they had never met the con man. I mean sure Cruisp, screw yourself over, but you had to involve a wife and her family as well? Ah, may they all burn in mortgage hell. So many people in deep shit because of the exuberant greed of someone with a high school education.

Legion said...

by the way, no wonder they thought Casey was small shit, he's in the same neighborhood but not as high profile..though nailing his scrawny ass to the wall would give the impression that nothing escapes their attention.

soem dood said...

"No arrests are expected today, however, two people were taken into custody at a home in the 12,000 block of Crown Crest for being in possession of city street signs. This is not connected to the search warrants being issued today."

[img wiggum.gif /img]
"Damn fine police work there, Lou."

Ogg the Caveman said...

I skip reading EN for one lousy day, and I miss that raid? Wow.

Rob Dawg, let me know when the Avocado property drops to the point of being a sweet deal. I need a place to park my 2759 unique koi.

The_Scum said...

Hey Rob?

Congrats on possibly motivating somebody to at least attempt to lessen the shithole blight on your neighborhood that house is causing!

That needed to be said.

Lou Minatti said...

What's with the names? Krisp. Tu. Sluga.

Curious said...

@ Lou.

IIRC, Tu is Vietnamese. Crisp is David's felonious father's family name. No clue on Sluga.

Ironically, Crisp Sr. was turned in to authorities by none other than David himself.

So, if anyone should have taken his own children's future to heart, it should have been David Crisp, son of felonious Crisp Sr.

I'm sure BB has it all memorized and can give a far more entertaining account of the Crisp genealogy.

Curious said...

@ The Scum,

I applaud Dawg as well, but I have a slight memory of his description of the ultra-vigilant anti-koi HOA. LOLz.

Akubi said...

Having wasted yet another very long and tiresome day in jury duty, I’m rather late to the Avocado Koi farm "breading" pool find.

Dawg,
Until I checked the link, I assumed you were embellishing. Apparently, truth is truly stranger (and funnier) than fiction.

Lou Minatti said...

The stupid koi thing is national, BTW. My neighbors bought one of those kits from HD. The koi died in June and they didn't know why. I suggested that maybe they died because there was no shade over the little plastic pool buried halfway in the ground and it was 95 degrees every day. It was a big container of fish soup.

Akubi said...

Speaking of fish, this
pike poisoning
was a topic of conversation among the jurors today while we waited and waited and waited today for the attorneys, etc. to sort out their issues.
I love this quote:
But like Captain Ahab or perhaps Wile E. Coyote, the state has not let a little adversity stop it. On Monday, more than 500 fish and game personnel began a last-ditch, $16 million effort to rid the lake of pike, the most expensive ever undertaken against an “invasive species” in California. “This is a top-of-the-line predator,” said Ed Pert, the project manager. “If we don’t get it this time, we may need to rethink things.”

Akubi said...

I'm sure that northern pike Burning Man routine is working for them;)...
Caption under photo in article referenced above:
In support of the state’s eradication effort, residents in the Lake Davis area recently burned a 13-foot-long effigy of the pesky northern pike, made of papier-mâché with nails for teeth.

Legion said...

Crisp turned crisp sr in and then became a felon as well? What a dick. I'm sure crisp senior is anxiously awaiting for his son to arrive in the pen...he'll learn what new fish means..and we aint talking koi....


On another note, I unfortunately finsihed medal of honor airborne in 2 days..back to bioshock I guess...sigh..

Bakersfield Bubble said...

"I'm sure BB has it all memorized and can give a far more entertaining account of the Crisp genealogy."


LMFAO!!!

Like father like son...

Legion said...

Help, I can't afford my life...

Here's a nice little gem from money's women in red site...sheesh, the nerve of this chick

http://articles.moneycentral.msn.com/SavingandDebt/SaveMoney/HelpICantAffordMyLife.aspx

And the 400 per month grocery bill? Look at her picture..damn right that's the correct amt. So anyways, she has a land line and a cell phone, still goes out to eat for 100 a month (once a month I guess, look at her..she spends that much in appetizers) but the real kicker is the fact that she was using 1000 a month in child support to pay for her mortgage (ie living beyond her means) She also knew the gravy train was ending yet didn't do shit until it did.

Total expenses 3208

net income 1840 (used to be 2840)

I mean shit man she spends half of the child support on food? Betcha her kid is a bean pole.

Legion said...

oh, and if you read the comments, some do come down on her, but most are of the oprah "You go girlfriend!" variety.

Legion said...

More fun from WIR

My current mortgage is just over $1200/mo (includes taxes and insurance etc). That's my main problem. I have other basic expenses, utilities, phone, food that I've already pared down as much as I can see to. My salary is now about $1600/mo take home, with another $350/mo in child support.

I know I need to budget better, but right now with the mortgage and other expenses, I can't keep up with the repairs on the house that are desperately needed (and behind). I have an ARM that is due to expire at the end of December, I have no idea what my new rate will be and it could go as high as 11%.


MAn between this and prosper.com, who needs Casey?

The_Scum said...

HAH AHH haHa ahh

Legion, I read that article earlier today. That woman is a fool.

She is drowning in accelerating debt at the rate of $1400 a month yet needs $110 a month cable TV and internet, $100 a month cell phone, $50 a month landline, over $1400 a month on a stupid assed condo with HOA and escrow fees, spends $160 a month on gas and $300 per month on electricity...ON TOP of spending $400 a month on groceries and $100 a month on eating out! That doesn't include the $125 per month 'credit card' bill.

What a fucking PIG. I'm just glad I'm not here stupid boyfriend that is so concerned she is such a money wasting PIG he's going to move in so she can waste more money on her pig lifestyle. Yet she is 52 and has a whooping $5000 in her IRA. Maybe she has a HUGE assed retirement.

Hah! There are millions and millions of women (and probably men) out there who think EXACTLY the same way.

I'm old, cranky, drunken and CHEAP. I learned women like Pig Jane are to be avoided no matter what she looks like.

Building wealth the old fashioned way, by spending less than I make, will hopefully get my spawn educated with MARKETABLE degrees and let me retire without stealing my cats food.

The_Scum said...

And on top of that the advice she gets from Dunleavey? Sell the condo you dumb cunt!

Good advice! But does she really have $150k equity??????

I'd love a followup on this.

Legion said...

@ Scum

150K in equity my ass..maybe back in 2005 but it is dropping quick. Oh, and the 5000K she has in an IRA, 10 more years or so and she'll be able to live the high life until it runs out...in like a month.
She's probably counting on that HUGE social security check each month to fund her retirement, what is it like 680 a month? If it's even around when she retires.

Legion said...

Oh and don't forget that 26,000 personal loan she took out which has to be repaid by December 2008! That's two thousand a month!

"The good news is that Jane was prepared for this moment."

Looks more like she has her head buried up her ass ostritch style.

The good news is that Jane owns her condominium and has about $150,000 in equity. (She couldn't qualify for a home-equity loan because of her credit history.)

If she owns her condo why is she paying a mortgage? The bank owns her condo.

TK said...
This comment has been removed by the author.
TK said...

Just read. Man thank GOD that child support payments are over with. I wouldn't want to have to finance that moron's overly expensive life. But taking a huge personal loan to account for that is just STUPID.

Some people just can't come to terms with the fact that they can't afford their lifestyle. I spend less than $400 a month on groceries and I feed myself, my wife and a child with very specific, and kind of expensive food needs.

aaron said...

damn.
our grocery bill runs upwards of 800 a month for 2 people. Although my wife is pregnant and I intake 3500-4,000 calories a day. plus we buy lots of fruit and veggies and cook everything from scratch(no mac and cheese or crap like that). to me the extra money put into buying quality food is worth it for overall health. although this lady needs to stop eating out and eating crap b/c she's huge.

aaron said...

somebody mentioned shorting CFC at 17 the other day. I hope they covered! or can ride it out b/c it gapped up with the news this am.

Legion said...

@aaron

That was me, and yes I covered at 16.20 the same day for 12000 shares...WHEEEEEEW!

Now FCB I believe however went long when it went under 17! Hope he held out yesterday!

Tyrone said...

I guess my e-mail to Angelo, most of the board of directors, and their marketing/press team lit a fire under their asses. LOL

Rob Dawg said...

Tyrone,
It very well could be. The team was out there 2 days after you said you did that. and it was a "crew." No nonsense, cost was not an object, geterdun type.

Curious said...

From the realtor.com details:
Exterior features: Flag Lot, Private In-Ground Spa, 1st Floor Entry,Chain Link Fencing, Private In-Ground Pool,Slab Patio, RV Access, Septic System.

Check, check, and check. All three are things I just love about a $1M estate. Where can I sign up for my $1.5M liar loan to fix this place up? Like 500K would even begin to fix this place up.

So sad for the neighborhood, even with CW's super-cleanup team's efforts.

BTW, it looks like CW is still trying to make a small profit on this place. They took it back at $929K. The last "real" sale was in '99 at $520K.

I'm sure the realtor.com photos are the best available, but they're kind of distant and fuzzy. Sort of like a glamour shot of a 50-80 year old with a new dress and lipstick.

If you and your wife decide to ramble by again, I'd rather see and believe your updates on the status of this house.

I guess the $1M price is strictly for the lot?

And what's a "flag lot"?

Curious said...

So sorry for the late and later responses but this house just fascinates me. Rob, you have no idea how hard it was for me to refrain from nagging you about this post after you mentioned updates a week to 10 days ago. : )

Later, and hopefully last, response. I just noticed the still nasty pool in realtor.com's last pic(#6). Does it still look like this after the clean up?