Lathrops amazing Supermodel is back on the market!!!!!!!!

17095 Golden Spike Trl


BACK ON THE MARKET

DOM/CDOM: 14/14
Beds: 3
Baths: 2 (2 0) (FH)

Sq Ft: 2392*
Lot Sz: 0.150ac*
Yr: 2005*








Hey, I remember this house. Its a former model home from a local builder called Lafferty, now it is a WELLS FARGO foreclosure. It came on the market July 2ed (07/02/08).

It received much attention at the time.... There were over 20 offers according to contacts.

For good reason too, it's nicely upgraded, a former model, (like the Cindy Crawford of new homes!) I would guess at least 50K in upgrades. I had more then one client interested. In fact I knew of at least five other "Realtors" who wrote an offer on this one. Now its back on the market. This is pretty funny to me because you would think with such a great home at such a low price that you would have sooo many offers to choose from that you might just pick the right one to close quickly.....ohh well. I could only guess greed got in the way.

Tisk, Tisk, tease, tease.

Interior Photos from MLS:

FYI: This house sold for $609,000 on 06/14/2006........ and thats right its availible, so call me... Brian

SOLD 10/08/08 - 10/13/08 (whos getting in?)

A snapshot into the market all homes sold in Tracy, just last week. I also have put in the discription the type of financing listed in the sale and also if there were any closing costs paid by the seller per MLS. 14 homes sold in the last seven days, 50 homes sold since the first of the month. More homes tend to go sold around the first of the month verses the middle of the month.


Of the 14 For more details on each of the sold homes click on this link.............
8 FHA loans (first time home buyer, 3% downpayment, owner occupied required)
3 Conventional loans (regular loans usually require a higher downpayment, owner occupied optional)
1 VA (Veteran Affairs loan, 100% financing, owner occupied required)

2 unknown



SOLD 10/08/08 - 10/13/08

80 E 9th St
$119,900
1127 Sq.ft
10/09/08
Financing: ????
Two days on the market!

1856 Camellia Dr
$240,000 Original Price 246,900
Financing: Conventional
2077 sq.ft
10/08/08
$7,000 Seller Credit Towards


1625 Gardenia Ct
$265,000 Original Price 259,900
Financing: Conventional
2262 sq.ft
10/10/08


2466 Lighthouse Cir
$400,000 Original Price 386,250
Financing: Conventional
3121 sq.ft
10/10/08


250 Mount Hamilton Dr
$260,000 Original Price 349,900 (previously way overpriced)
Financing: FHA
2009 sq.ft
10/10/08

310 Portola Way
$168,000 Original Price 159,900
Financing: FHA (5K credit for closing costs)
1232 sq.ft
10/10/08


300 Falcon Ct
$260,000 Original Price 249,000
Financing: FHA (7.8K credit for closing)
1859 sq.ft
10/08/08

2818 Hawkins Ln
$215,000 Original Price 206,900
10/09/08
Financing: FHA
($8265 in closing costs)
Six days on the market!

905 Christy Ct
$210,000 Original Price 185,000
1483 sq.ft
10/08/08
Financing: FHA
(Seller paid $6300 BCC)
Five days on the market!

1460 Busca Dr
$198,000 Original Price 194,900
Financing: FHA
1428 sq.ft
10/09/08

1013 Vernon Berry Ln
$210,000 Original Price 194,900
Financing: Creative
1372 sq.ft
10/08/08

2775 Colony Dr
$190,000 Original Price 194,900
Financing: Cal Vet
1454 sq.ft
10/10/08

1840 Alegre Dr
$206,000
Financing: FHA
1087 sq.ft
10/09/08

deloris FHA

A Path to Prison

I personally have talked with people thinking of doing this and have given them the same advice. People think this is a BIG GAME they do not realize they are committing Fraud a prison offense here is a recent article on Inman News.

DEAR BENNY: I know someone who has qualified to obtain a second house by stating that he will rent his first house; however, he has no intentions of actually renting it. Upon obtaining the new house, he plans to walk away from the first house, letting it go into foreclosure. He will already own his new house before his credit is hurt by the foreclosure, and he plans to live in the new house until the foreclosure is removed from his credit report in seven years, so he sees it as the perfect plan. Is that legal, especially since he qualified for the new loan with false information? Is there anything I should warn him about? --Kevin

DEAR KEVIN: What a clever approach. Your friend will be the head of his class when he is incarcerated. Falsifying information on a mortgage loan application is a federal offense.

At the bottom of all settlement statements (called a "HUD-1) you will find the following language:

WARNING: It is a crime to knowingly make false statements to the United States on this or any similar form. Penalties upon conviction can include a fine and imprisonment. For details see: Title 18 U.S. Code Section 1001 and Section 1010.

Section 1001 of our federal law makes it a crime to make "any materially false, fictitious or fraudulent statement or representation," and the penalty can be a fine and imprisonment for not more than five years. Section 1010 deals with making false statements to induce the Department of Housing (including the FHA) to issue mortgage insurance or mortgage loans. Here, the penalty can be a fine and imprisonment for not more than two years.

I suggest that you tell your friend that he should (1) immediately rent out the house and (2) get himself a good criminal attorney. Need I say more?

The Barringer Team

"A Referral is the Best Compliment we can receive"

Brian Barringer

brian@tracyhomes.com

800.894.7282

Made by Brian W. Barringer in 2006 for
http://www.tracyhomes.com/ and http://www.blogger.com/www.tracyrealestate.blogspot.com