Home › Forums › Housing › San Diego RE inventory has stabilized and begun to shrink = have we arrived at the bottom????
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little lady.
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June 18, 2007 at 2:03 PM #9332June 18, 2007 at 2:13 PM #60133
no_such_reality
ParticipantWhy bother listing if you did 100% financing and are already 20% underwater and can’t afford the short sale?
June 18, 2007 at 2:13 PM #60166ParticipantWhy bother listing if you did 100% financing and are already 20% underwater and can’t afford the short sale?
June 18, 2007 at 2:28 PM #60137kewp
ParticipantUh, what about the tidal wave of ARM resets over the next two years?
June 18, 2007 at 2:28 PM #60170ParticipantUh, what about the tidal wave of ARM resets over the next two years?
June 18, 2007 at 2:33 PM #60141asragov
ParticipantStabilizing or falling inventory could be due to any number of bearish factors, including banks and private sellers holding on, hoping for prices to improve.
June 18, 2007 at 2:33 PM #60174ParticipantStabilizing or falling inventory could be due to any number of bearish factors, including banks and private sellers holding on, hoping for prices to improve.
June 18, 2007 at 3:01 PM #60149an
ParticipantI agree with nsr, why bother listing when you know you can’t afford a short sale and you’re under water. Might as well enjoy it while it last before the ARM tidal wave hit. Also, check out the sales #. It declined 24.4% yoy. Which mean even w/ a decline of 4% in inventory, the month of supply is still going up. No bottom here, move along.
June 18, 2007 at 3:01 PM #60181ParticipantI agree with nsr, why bother listing when you know you can’t afford a short sale and you’re under water. Might as well enjoy it while it last before the ARM tidal wave hit. Also, check out the sales #. It declined 24.4% yoy. Which mean even w/ a decline of 4% in inventory, the month of supply is still going up. No bottom here, move along.
June 18, 2007 at 3:38 PM #60161The-Shoveler
Participantaggree with asianautica,
If Sales are not increasing (ie.. decreasing), The Number of listing being stable for the moment is not of much relevance.
June 18, 2007 at 3:38 PM #60194Participantaggree with asianautica,
If Sales are not increasing (ie.. decreasing), The Number of listing being stable for the moment is not of much relevance.
June 18, 2007 at 3:45 PM #60167SD Realtor
ParticipantI don’t see it. I just got back from a listing appt in Valley Center from a flipper. He is going to get creamed. Half of the agents he called wouldn’t even come out to see him.
Also there are several sellers I know of who are holding off the market as they think it is will improve next year.
Of course the distressed properties will dominate either of the two cases listed above.
SD Realtor
June 18, 2007 at 3:45 PM #60200ParticipantI don’t see it. I just got back from a listing appt in Valley Center from a flipper. He is going to get creamed. Half of the agents he called wouldn’t even come out to see him.
Also there are several sellers I know of who are holding off the market as they think it is will improve next year.
Of course the distressed properties will dominate either of the two cases listed above.
SD Realtor
June 18, 2007 at 3:51 PM #60176Bugs
ParticipantWe had about 2,250 sales of SFRs and condos through the local MLS last month. The total number of sales through for 2006 was 29,086; this is less than 2,500/month average. So far, 2007 shows to be running about 15% lower in sales volume than 2006.
Until the number of available listings gets down to the point where there is more balance between supply and demand I don’t think it makes any difference in terms of price stability whether we have 15,000 actives or 25,000 actives. Too many is too many; and it will be those sellers who are compelled to sell at any price, regardless of loss, who will compete hard enough in pricing to close the sale. Everything else will sit while those sellers await better days or a more realistic perspective, whichever occurs first.
Come on back with this argument when the inventory of active SFRs and condos hits 9,000 or so and we can BEGIN to talk about prices becoming more stable. Until then…..
June 18, 2007 at 3:51 PM #60208ParticipantWe had about 2,250 sales of SFRs and condos through the local MLS last month. The total number of sales through for 2006 was 29,086; this is less than 2,500/month average. So far, 2007 shows to be running about 15% lower in sales volume than 2006.
Until the number of available listings gets down to the point where there is more balance between supply and demand I don’t think it makes any difference in terms of price stability whether we have 15,000 actives or 25,000 actives. Too many is too many; and it will be those sellers who are compelled to sell at any price, regardless of loss, who will compete hard enough in pricing to close the sale. Everything else will sit while those sellers await better days or a more realistic perspective, whichever occurs first.
Come on back with this argument when the inventory of active SFRs and condos hits 9,000 or so and we can BEGIN to talk about prices becoming more stable. Until then…..
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