Somebody posted that there were less than 50% of the available foreclosures on the market. With more undoubtedly on the way, today’s discounted foreclosure will likely be just another overpriced house in a few months/years. If you just compare to the existing market, there are some deals that look smokin’, but it’s those smoking deals that give away the future of the market.

Somebody posted that there were less than 50% of the available foreclosures on the market. With more undoubtedly on the way, today’s discounted foreclosure will likely be just another overpriced house in a few months/years. If you just compare to the existing market, there are some deals that look smokin’, but it’s those smoking deals that give away the future of the market.

Even in a gloomy housing market one still needs to keep in mind the psychological aspects of home ownership.

If someone has the financial ability to make a purchase in this market, even purchasing at 10-20 percent above the expected market value, once you factor in the pychological benefits of home ownership, its sometimes enough to get a buyer to make the leap.

There will always be those who place a high value on the stability and pride that home ownership provides. remember too that cities like san diego have limited land available for housing, so at some point once the price gets to a certain basement barrier, the basics of supply and demand start to kick in.

This is evident by the fact that rents are considerably high in socal, with 2 and 3 bedroom homes renting well into the 2,000’s/mth.

as far as speculators go, thats an entirely different story. house flipping in this market is just plain foolish.

Even in a gloomy housing market one still needs to keep in mind the psychological aspects of home ownership.

If someone has the financial ability to make a purchase in this market, even purchasing at 10-20 percent above the expected market value, once you factor in the pychological benefits of home ownership, its sometimes enough to get a buyer to make the leap.

There will always be those who place a high value on the stability and pride that home ownership provides. remember too that cities like san diego have limited land available for housing, so at some point once the price gets to a certain basement barrier, the basics of supply and demand start to kick in.

This is evident by the fact that rents are considerably high in socal, with 2 and 3 bedroom homes renting well into the 2,000’s/mth.

as far as speculators go, thats an entirely different story. house flipping in this market is just plain foolish.

Even in a gloomy housing market one still needs to keep in mind the psychological aspects of home ownership.

If someone has the financial ability to make a purchase in this market, even purchasing at 10-20 percent above the expected market value, once you factor in the pychological benefits of home ownership, its sometimes enough to get a buyer to make the leap.

There will always be those who place a high value on the stability and pride that home ownership provides. remember too that cities like san diego have limited land available for housing, so at some point once the price gets to a certain basement barrier, the basics of supply and demand start to kick in.

This is evident by the fact that rents are considerably high in socal, with 2 and 3 bedroom homes renting well into the 2,000’s/mth.

as far as speculators go, thats an entirely different story. house flipping in this market is just plain foolish.

Rent’s have gone up because prices have gone up, but they’re still not as out of whack as prices. I think we’re reaching the point (due to layoffs, living expenses, over-crowding, and demographic conditions) where we will see population declines, rent declines, and further price drops.

The psychological benefits of a home I would argue are most often imagined by those who have never owned. I used to think I was saavy because I didn’t want to throw money out the window by renting. I couldn’t be happier renting.

Foreclosures typically go for market value, not necessarily 50% below the FSBO down the street. Think of them as incremental corrections to inflated prices. And with an unprecedented number of them, and more on the way, prices will fall for a long time.

Rent’s have gone up because prices have gone up, but they’re still not as out of whack as prices. I think we’re reaching the point (due to layoffs, living expenses, over-crowding, and demographic conditions) where we will see population declines, rent declines, and further price drops.

The psychological benefits of a home I would argue are most often imagined by those who have never owned. I used to think I was saavy because I didn’t want to throw money out the window by renting. I couldn’t be happier renting.

Foreclosures typically go for market value, not necessarily 50% below the FSBO down the street. Think of them as incremental corrections to inflated prices. And with an unprecedented number of them, and more on the way, prices will fall for a long time.