Market turns cold in a desert town (La Quinta)

Trooper_IHB

Trooper_IHB

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<a href="http://www.latimes.com/business/la-fi-laquinta2-2008jun02,0,6092710,full.story">Trouble in La Quinta</a>



<em>"Short sales are becoming the norm in La Quinta, said Craig Conley, the agent selling the Magsams' house. Conley said 40 of his 70 current listings were short sales, and the distress is widespread".</em>
 
[quote author="EvaLSeraphim" date=1213001752]Do Nef Cortez' lists cover Palm Springs?</blockquote>
<a href="http://www.nefcortez.com/home-files/Foreclosures/Archives/RV-TS/RIV_TS_Report_05-19-2008.pdf">Yes, it is in Riversaw county</a>, La Quinta starts on pg. 16 with 4 homes, Palm Desert starts on pg. 17 with 4 homes, Palm Springs starts on pg. 19 with 5 homes and there is one in Ranch Mirage on pg. 20. Just hit control F and search La Quinta and Desert/Springs follow it in zip code. Searching 113 pages of homes would suck. Well, at least it isn't as bad as the 163 pages for San Berdo.
 
Hey... wait a second, I just realized the list was from 5/19. Is he not updating the searches? I thought I cleared the cache...
 
"The Magsams aren't looking for a handout, however, and they don't blame predatory mortgage brokers or Wall Street financial wizards for their plight. Instead, they say they simply got caught up in the excitement of the real estate boom and the bad judgment that went with it -- on the part of lenders and borrowers alike."



I admire these types of folks.
 
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