Meet Daryn Ogilvie

Daryn L. Ogilvie's biograhy per Capella Development


Vice President, Residential Development

Daryn Ogilvie is the Vice President of Residential Development for Capella. She has been a part of the Capella team since moving to California in 2001. Ms. Ogilvie is responsible for managing the company’s sales, advertising, purchasing, contracting, escrow, and option selection functions. She has managed several successful single-family home projects in the San Diego area and actively participates on her project’s homeowner association boards. She has been involved in charity events in San Diego and is a member of BIA’s Sales & Marketing Council, and regularly attends industry events, including PASS, PCBC, BIA Forums and a variety of continuing education programs both within and outside of the building industry. Ms. Ogilvie graduated magna cum laude from the University of Maryland’s business school in 2000, with majors in both Business Management and Marketing.

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So what does a woman with such qualifications do?

She buys the following condo as her primary residence. But can she afford it? You be the judge.

1025 Island Ave 604 San Diego CA 92101

Purchased: 03/22/2006 for $411,055

Now listed at: $275,000

Property tax default: $2,595.82

No wonder she didn't want the full address revealed on the MLS listing.

Meet Joel Meacham

Biography

Joel Meacham joined Lee & Associates-San Diego and has actively pursued landlord and tenant representation through aggressive cold calling and submarket canvassing techniques. Formerly Joel was with JSI Commercial where he gained experience in commercial real estate as a sales associate and marketing assistant. Joel's extended work history included managing a high end bar at one of San Diego's premier restaurants. Career History / Professional Recognition Joel holds a California Real Estate License and is the recipient of the 2006 CCIM Undergraduate Scholarship. Joel is also a member of NAIOP, San Diego Chapter. Affiliations / Education Joel received an Associates degree in communications from Mesa College and attended classes at San Diego State University majoring in Business Real Estate.

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You would think that a realty agent would know better wouldn't you?

Well, Mr. Meacham went out and bought at Liberty Station in 2008 thinking he got a good deal. After all, he's an expert in real estate matter.

Not even a year after purchase, he lists the condo below purchase price.

Purchased 04/04/2008 $515,000

Now listed for $510,000.

MLS-090007475-2728_Farragut_99_San_Diego_CA_92106

Isn't the bathroom so 1988 looking?

Will this condo go short-sale then foreclosure, with an eventual taxpayer subsidy? Time will tell.....

Realtors Underwater

Meet Raye Scott and Francine Finn



They are well-known Realtors who like to tell us about the "incredible opportunities" in real estate.

Perhaps the opportunity to bail them out of their loser condo?


350 11th Ave 923 San Diego Ca 92101

• Purchased for $763,500 on 1/31/2007
• Then immediately listed on 2/16/2007
• Now listed at $649,900 after more than 2 years of marketing failure.
  

Do you believe that such Realtors can be trusted to represent your interests?

Stay tuned for another Realtor feature at Electra

Bozo Realtors

Tips For Buyers

No one wants to contract a case of buyer's remorse. You know what I am talking about. It is that feeling that you've either paid too much or received too little. In most cases, there is no recourse for the buyer to receive recompense once the contract has been signed.

If no one wants to catch a case of buyer's remorse, why are there so many people out there who suffer from it? The answer is simple, most of these people engaged in a transaction without enough knowledge and information.

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The above is a quote from the Website of bozo Realtors from Del Mar.

Anthony and Stephanie DeGasperis must know they are talking about because they fell for it themselves.

• In 06/30/2003, they "invested in the future" and bought:

#510 Parkloft
2003 Purchase price $519,823 (Lifetime opportunity from developer)
2009 List price $399,000

• They must have felt rich for a few years while they owned the condo (not a principal residence according to tax records).

• But by 2007, the market was going down, so they subsequently tried to pawn that condo to an idiot buyer, or accomplice as the case may be, at a list price of $549,000.
  

• Unfortunately for them, either the banks didn't lend the money to complete the purchase or something else, such as a problem with the building, caused the sale to fall out of escrow. It doesn't look like those Realtors provided enough knowledge and information to complete the transaction.
  

• So now, the condo is a short-sale for $120,823 less than purchase price. With all related carrying costs, that's a lot of "thrown-away" house payments.

Now, who entered a transaction without enough knowledge and information?


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Fast forward to 2009:

• Will the bank allow the short sale while Anthony and Stephanie DeGasperis own other properties and assets which they could liquidate to make good on their promise to pay?

• Taxpayers (via bailouts of the banks) are having to eat the losses incurred by real estate gamblers such as the DeGasperis.

• How many houses did the DeGasperis sell to unsuspecting buyers who now live with buyers' remorse?

Jill Sellers Gets NOD

Jill Sellers, a well-known agent in La Jolla/Pacific Beach got an NOD on her investment condo in La Jolla. The tax records do not show a $7000 Homeowner's Exemption on that property.


7811 Eads Ave 112 La Jolla CA 92037
Purchased 03/26/2006 for $780,000

NOD in the amount of $585,000, probably, the first trust deed.
I don't know if there is a 2nd trust deed.

Here are the comps:

MLS-080051983-7811_Eads_Ave_208_La_Jolla_Ca_92037 for $610,000.


MLS-076066732-7811_Eads_Ave_110_La_Jolla_Ca_92037 for $549,995.

Let's watch this condo and see what the future brings for this Realtor and her other investment properties, which I shall feature in other posts.

Again, thanks to jpinpb for the information.

Why I Post Full Names

Transactions records are public records so that the whole world knows who bought what. That prevents fraud and is in the public interest. That is why we have a County Recorder in every locality in America.

I will not post the names of private citizens.

I will, however, post the names of "public figures" in real estate or financial management.

A public figure would be a person who is quoted in newspapers and advertises himself or herself as an expert or insider of the market. A person' whose name is plastered all over the Internet, billboards, newspapers, or on note-pads in every house in the neighborhood. A real estate agent with bench ads in her community and whose name is easily recognizable is a public figure.

Those experts make money of their notoriety so they should be called to account when they give bad advice, or lose their houses themselves.

- Realtors. I understand that they are near the bottom of the pyramid in terms of the financial fraud that besets our country. But Realtors are the public face of the real estate industry in which millions of homeowners have lost their entire life savings.

- Financial advisers.

- Other so-called real estate experts such as economists, authors, business people, developers (eg Alan Gin, Alan Nevin, et al)

- Real Estate industry executives (Cary Burch, et al)

As a patient, you are entitled to know the death rate statistics of a surgeon or a hospital before your submit to the scalpel. The same principle should apply in real estate and finance.

Let me know what you think.

Breezy Downtown

Goingup, a poster on another blog keeps on pointing to the downtown data provided by Lew Breeze, a local Realtor.

First, Breeze's data is all junk, in my opinion.

Second, he is hardly anyone that you can trust since he claimed that "downtown buyers are actually buying". Duh! So much for analysis.

He's also the type that would claim that superior properties are immune. So, OK, lets examine a superior property.

Lew Breeze bought at Electra


MLS-086028355 700 W E St 1905 San_Diego Ca 92101
2/2
1161 sf
$581 PPSF

Purchase price $674,400 04/15/2008
Listed price $674,500 or a whopping $500 profit which, in reality is thousands lost if you consider carrying and transaction costs.

The property is bleeding money each month but it was removed for "when the market rebounds."

I will continue to monitor this condo to see what it eventually sells for.

Mr. Breeze owns other condos Downtown. Stay tuned for future updates such as a monster tax lien that was filed by the IRS.