homes and 12 nearly finished spec homes at Bear Valley Road and Highway 395 are being demolished. The developer filed bankruptcy about 18 months ago and the foreclosed property went to Guaranty Bank in Irvine. A Guaranty Bank official, Real Estate Officer Dean Smith, said they were facing daily fines from the city of Victorville if they didnt do something with the homes and property that not up to code. He said it was a choice of pumping their own money into property site improvements …
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If youre stuck at home now anyway you should do some work online.. you can find out more at soloemployee . com
I live near these places…(and this was posted in April…so why the link to LGF now?) and they were a blight. VV’s mistake was allowing builders to overbuild the area originally, causing a massive tip in our local real estate market.
Environmentalists, if they ever had an argument, should have made it about 2004…not when these were being torn down.
Did anyone see how the local government made this happen with daily fines?
Why were they destroying these brand new homes, they should sell it for cheap instead of eating it with these machine.
World Factbook info, California as an independent state, it would have had the 10th largest economy in the world in 2007.
July 09 California #1 foreclosures at 108K
U.S. 360,000 for 1 month!
Go To: Google maps, select REAL ESTATE @ right options box. Check FORECLOSURES, zip code 91739 and watch the search area w/PINS of homes in foreclosure. MINDBLOWING! zip 91739 the Inland Empire. Ground zero
CA CML RE @ 30% vacancy rate! 5 yr bloodbath more at: CaliforniaRE2009 blogspot
It really is crazy. It shows just how crazy things are. Here you had perfectly useable houses. Hang the bastards. Bring back the guillotine.
its crazy to read that someone would actually logically think that land would be worth more w/o houes on it. i dont care if someone smeared human **** all over the walls of those houses. you can still clean it up and fix it up. knocking the whole fucking thing down and throwing it away is like throwing money away. how could you think that the property is more w/o the houses? a house it self is value, **** condition or not. no research required about that. that mentality is very dangerous
It is really sad to see all of these comments based on pure emotions. Unfortunatly, this is business! Those houses were unable to be inhabited. They were torn apart and destroyed by homeless and people stealing all of the “gutts” of the houses. All you can see is one house, and the outside no less. Before you judge, become educated about the situation. FYI: Guaranty Bank did NOT take and TARP money…
heo87: There is still NO excuse for sending useable **** to a land fill. If your claims r true you could of let people salvage the materials. Your lack of compassion and failure to see the human side of this makes your organzation one that will soon be bankrupt and you will be unemployed. good luck to you. I can think of one less place you might be able to seek shelter should you find yourself homeless which seems likely if you have anything to do with a business that makes decisions like these.
Maybe you all should do your research before you get on your high horse and think you know the situation. 1. None of the homes we actually completely finished.2. Homeless and squaters were living in them, lowering the value by the minute.3. because they werent complete, people we coming in and taking things from the houses ie: appliances, carpet, windows, doors…you name it, they took it. 4. the property that the houses were built on…is worth more without the houses on it! Do your research!
that ******!! me and my family were wondering why. now we know, thats just stupid because no one even lived in them yet
They’re not “Homes”, they’re houses. They’re not “Homes” until someone is living in them.
A house is a solid tangible object. Home is an abstract concept.
There was an unsustainable building frenzy in Victorville. Prices have now dropped 50%. A home sold for $325K four years ago is now on the market for $175. Prices should never have gone so high, and wouldn’t have, if the bankers had done what they were supposed to do - to make sure that people could afford these escalated prices. But banks were making money on the quantity of loans and then shuffling them on to Wall Street.
poor builders crying about this- ” i wont be able to get that trophy wife now!”
Just because some evil government fines them daily, they have to destroy it. How sick can it get. Whenever you see something of value being destroyed, you just no the government machine of coercion is not far away.
Well if you are going to distroy them , you might as well just give them to the people to live in them , even thow they cant pay….Right ?
I dont Get it ….
i bid the pipeline on this site about 2 1/2 years ago.
Why would a bank ever de-value property? This bank received bail out money. They were paid to de-value the land and to take homes off the market. This artifically keeps property value up. Your house never was nor will it ever be “worth” $400.000. Trying to hang on to the inflated value of your home is just putting more money in the banksters pockets. We need to return to actual asset figures or this will get worse. Just keep jacking up the price and soon we’ll all be homeless.
i really dont know what was said but one thing i’m not is half asleep. however to each his own!
There’s something not right about the banks version of the story.
According to Guaranty Bank Real Estate Officer Dean Smith, the city of Victorville was fining the Bank on a daily basis because the homes were not up to code.
These are new homes, 4 of them completed & 12 still under construction. How could they NOT have been built to code?
Guaranty Bank is full of sh*t.
Rather than selling the homes at a loss, thus saving them, they decided to totally demolish so NO ONE could have them!
These cheap, plastic tract homes blight most of So. Cal. turning towns into Whovilles.
Detroit & St. Louis are considering similar solutions, tearing down forclosed homes & shrinking the neighborhoods.
More backhoes to the Inland Empire -please!
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