VICTORVILLE MODEL HOMES DEMOLISHED – SHOCKING VIDEO: Part 5
November 21st, 2009 | by admin |
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
http://www.youtube.com/watch?v=qvrc7×3Amps
Video 2
http://www.youtube.com/watch?v=COy1YyVUPQ8
Bank Bailout Funds Hard At Work Part 3
Video 3
http://www.youtube.com/watch?v=B0vDkwT2VlY
video 4
http://www.youtube.com/watch?v=JGwTywKE9Ys
I want to give a SPECIAL thanks to Mike “Mish” Shedlock for helping me get this very disturbing housing story out to the public.
http://globaleconomicanalysis.blogspot.com
Duration : 0:1:37
[youtube ZsgOaCZ2Lag]
25 Responses to “VICTORVILLE MODEL HOMES DEMOLISHED – SHOCKING VIDEO: Part 5”
By LovesMike33 on Nov 21, 2009 | Reply
What a waste of …
What a waste of money all this was.
Build all these houses and than tear them down? What a shame.
By sfordgg on Nov 21, 2009 | Reply
THANK GOD I HAVE …
THANK GOD I HAVE SECTION 8
By jcwitness on Nov 21, 2009 | Reply
For updates, please …
For updates, please visit the new VisionVictoryManifesto website.
By jcwitness on Nov 21, 2009 | Reply
The bank that did …
The bank that did this was shut down this year by the FDIC (this video is from back in April 2009). That bank is gone. That backhoe operator doesn’t normally tear down houses for a living.
By jcwitness on Nov 21, 2009 | Reply
Daniel was always …
Daniel was always VisionVictory.
People complained when he made videos talking about religion, so he made a new channel called Christian Red Pill to devote to issues of faith.
THEN he created a channel called VictoryIndependence that deals other things that don’t fit the VisionVictory economic channel (like preparedness, gardening, etc)
By dazeofmylife on Nov 21, 2009 | Reply
You squeaked on the …
You squeaked on the operator of the machine…he will now lose his job. You did him in after he gave you information. You could have said “I have learned other homes are to be destroyed” and kept it confidential. Ever hear of Karma?
By SuperDoopz on Nov 21, 2009 | Reply
good thing they …
good thing they destroyed them …. they should have not been built anyways ….. empty homes like that attract crime …. my city tears down homes everyday …… for the simple fact that it attracts crime ….. but what a waste of materials …..
By pokerdogs222 on Nov 21, 2009 | Reply
actually this video …
actually this video seems a little bias towards the condition of these homes. its not hard to see the home behind the home being demolished is at best about 30 percent complete. there are many homes across america in that condition. simple fact is there are more unfinished homes than will never be needed. a complete over building in other words. taking these houses out of the market may help existing home values retain or rise. the disaster was building these homes in the first place. good day.
By gasdorf on Nov 21, 2009 | Reply
what happen to you …
what happen to you youtube name VictoryIndependence?
now your visionvictory?
By gasdorf on Nov 21, 2009 | Reply
i dont understand …
i dont understand government says the recession is over yet unemployment is down ….
By azxten2328 on Nov 21, 2009 | Reply
If youre stuck at …
If youre stuck at home now anyway you should do some work online.. you can find out more at soloemployee . com
By gbh903 on Nov 21, 2009 | Reply
That seems an odd …
That seems an odd way to create jobs…
By nonocular on Nov 21, 2009 | Reply
He said Homes 13 …
He said Homes 13 times.
By stillthinking3 on Nov 21, 2009 | Reply
I live near these …
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.
By bukakkesake on Nov 21, 2009 | Reply
Did anyone see how …
Did anyone see how the local government made this happen with daily fines?
By sideslide23 on Nov 21, 2009 | Reply
Why were they …
Why were they destroying these brand new homes, they should sell it for cheap instead of eating it with these machine.
By BizReporter1 on Nov 21, 2009 | Reply
World Factbook info …
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
By clarkewi on Nov 21, 2009 | Reply
It really is crazy. …
It really is crazy. It shows just how crazy things are. Here you had perfectly useable houses. Hang the bastards. Bring back the guillotine.
By CustomRockets on Nov 21, 2009 | Reply
its crazy to read …
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 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
By heo87 on Nov 21, 2009 | Reply
It is really sad to …
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…
By SaraBurgerFL on Nov 21, 2009 | Reply
heo87: There is …
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.
By heo87 on Nov 21, 2009 | Reply
Maybe you all …
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!
By ewartjohn11 on Nov 21, 2009 | Reply
that sucked!! me …
that sucked!! me and my family were wondering why. now we know, thats just stupid because no one even lived in them yet
By mm1mm1 on Nov 21, 2009 | Reply
There was an …
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.
By MiamiIndianTribe on Nov 21, 2009 | Reply
poor builders …
poor builders crying about this- ” i wont be able to get that trophy wife now!”