Contingency factor, 92078

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Submitted by Butleroftwo on August 25, 2009 - 9:20am

I was surprised to see so many properties for sale in 92078 that were contingent. So I counted the $400,000 to $700,000 listings on sdlookup and came up with this;

- 80 total listings
- 38 of that 80 were contingent
- 47%

As I recall from the bubble in the 1990's the inventory was extremely low after the bottom was hit. I wonder if this is similar. It would be nice to have the inventory counted with contingencies identified.

‹ So we know we screwed up... odds of divorce/purchasing home. ›
Run the numbers on that 47% -
Submitted by LAAFTERHOURS on August 25, 2009 - 10:22am.

Run the numbers on that 47% - probably 80% or more SSales.

Butleroftwo wrote: As I
Submitted by socrattt on August 25, 2009 - 11:40am.

Butleroftwo wrote:

As I recall from the bubble in the 1990's the inventory was extremely low after the bottom was hit. I wonder if this is similar. It would be nice to have the inventory counted with contingencies identified.

One minor scenario has been overlooked. The FED is controlling supply and demand. As long as the government can manipulate the numbers buyers will keep buying as the assumption of the bottom is near. If the FED keeps control long enough for inflation and a reduction in the continued inventory hitting the shelves of the bank, it will be a win win situation for the government.

The only question is how long can the banks keep these homes off the balance sheets. I am hearing of homeowners on a daily basis who are contemplating the "walk away" scenario and many others who walked away months ago (some up to 18 months) and have yet to receive a NOD.

We live in some crazy times and do yourself a favor and don't follow the numbers to determine the bottom, follow the facts. The facts are obvious but only few see the writing on the wall!