Home Improvement – Real Estate

Victorville model homes being demolished. BREAKING NEWS Developing: Another bank will begin the tear down of 20 Temecula homes in Southern California. NEW HOMES DEMOLISHED By Patrick Thatcher, staff writer for, Daily Press Victorville- The housing collapse is taking a literal form for one bankrupt housing development. Four model 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 and additional money to bring the home up to code or tear down the 16 homes. Smith said the bank is not in the building or land development business and because of the current housing market does not see anything happening with the property for at least five years. Our only option is to either proceed with putting more than a million bucks into the land, which weve already taken a huge hit on and lost a lot of money, or, we tear down the houses, Smith said. He said the builder put up the homes before completing the site improvements and failed to have enough money to finish roads, walls, and other improvements that bring the community into code. Everything just fell apart at that point and we cant sell homes that are not up to code, Smith said. He said the city of Victorville fined the bank once because the home are out of code and would have faced daily fines if Guaranty didnt do something with the vacant houses. There are still substantial dollars that need to be put into the land before the city of Victorville will give certificates of occupancy on the houses and the bank isnt willing to put forward that amount of money, Smith said. He said the homes are a liability to Guaranty and that all of them are heavily vandalized inside and out with broken glass everywhere. Our projections are that those houses would sit the way they are for at least five years, what would they be worth then? Smith said. He said once the homes are demolished the property will be put on the market again. Calls to the developer were not returned. Patrick Thatcher may be reached at 760-951-6227 or at pthatcher@vvdailypress.com Video 1 www.youtube.com Video 2 www.youtube.com Bank Bailout Funds Hard At Work Part 3 Video 3 www.youtube.com video 4 www.youtube.com I want to give a SPECIAL thanks to Mike “Mish” Shedlock for helping me get this very disturbing housing story out to the public. globaleconomicanalysis.blogspot.com

www.localmentor.com host Michael Jake shows how a wholesale house flip happens. A walk through of a typical REO, Bank Owned House, Estate House, tired rental property, and how the deal was Found, How it was Funded, and how the profit was made and how much! Learn more Colorado Creative Real Estate Investing Techniques at www.localmentor.com

An economics presentation at Humboldt State University. Special guest lecturer Dr. Christopher Thornberg of Beacon Economics discusses the current housing bubble and its effects on California.

An economics presentation at Humboldt State University. Special guest lecturer Dr. Christopher Thornberg of Beacon Economics discusses the current housing bubble and its effects on California.

An economics presentation at Humboldt State University. Special guest lecturer Dr. Christopher Thornberg of Beacon Economics discusses the current housing bubble and its effects on California.

Professional interior designers are expertly trained in the use of lighting features to create breathtaking results. In this four-part series which I call “Colour Me Brightly: Understanding Light in Interior Design,” I draw on my experience in London’s interior design community to explain this fascinating subject. This second article talks about how to create patterns using illuminated materials.

Any perforated textile, when lit from the back or from the inside, will speckle adjacent forms with pattern, from point strips and pirouettes to constellations and dazzling laser specks. The professional interior designer can use the trim of a window covering to create fabulous banding across a shiny floor covering in the London summer. Some interior design firms love to use ornamental metal lanterns to paint fiery asteroids on walls and furniture, while light projected through a sculpted screen can create magnificent abstract outlines in expressive contemporary interior design schemes. A factory-inspired metal stairwell with perforated treads – of the type often reinterpreted for ultra-modern interior design schemes – can throw tiny checkmarks of light onto local furniture when exposed to a bright London sky in springtime. A fabulous option with a wooden staircase would require the interior designer to specify a grit-washed tread, to deliberately throw stunning shadows from the rail onto the adjacent wall. Abstract wire-mesh sculptures by local London artists can engender powerful interior design emotions, with the pattern even becoming more important than the object itself! Interior designers can expressively use perspective to distort the pattern from complete realism, when lit front-on, to Baconesque abstract enchantment when illuminated at an acute angle. The same effect can be created by using mirrors to refocus natural light from bay windows in some of the more luxurious London residences.

Glass is another popular tool for patterns. A frosted glass table can be lit from above with a halogen downlighter to cast intricate outlines of reflected light onto the ceiling, and the interior designer can even use positioning to cause refracted light to splash abstract patterns onto the floor underneath the table. I have seen some London Interior Design consultancies deliberately illuminate trophy-style glassware on display shelves from the front so that the etching on the glass throws deep shadows that recapitulate a core design theme.

In the next (third) article in this series called “Colour Me Brightly!” I will reveal another secret of London’s interior design community: how to create patterns with opaque objects.