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9 years ago

Stronger US dollar = fewer
Stronger US dollar = fewer foreigners able to afford US housing. Foreign buyers are a big part of CA housing.

Rates will be going up less than a year. Investors are content to wait, maybe this will nudge more people back under water and towards short-sales.

QE3 is being sent to Hell where it belongs next month. The effect on housing when QE1 and QE2 were euthanized was negative.

Here’s hoping for some pain/opportunity ahead! Here’s to chaos!

9 years ago

Great stuff as always,
Great stuff as always, Rich!

I’m curious how seasonal trends will play out this year. There do seem to be a few less buyers running around. I’m guessing prices will be flat to drop slightly this winter, as they often do as we head into the holiday season.

9 years ago

Do you think there is


Do you think there is anyway to measure how much pent up demand is out there? Number of families doubling up in SD area?

We recently bought a rental property in San Marcos. Price as about 11% below the appraised value. Another investor wanted to cash out.

Two other homes within days of listing in the area had at least two offers which sold for 7% than our price.

However, there are four homes in the neighborhood listed at 15% higher which continue to sit for months.

To me this implies there is demand but the pricing needs to be very precise.

9 years ago

Big drop in sales. Biggest in
Big drop in sales. Biggest in the country I believe. Is it across the board? Be interesting to see what the next few months bring.

9 years ago
Reply to  Jazzman

Got an email from Ryland
Got an email from Ryland offering 2.75% 30 fixed mortgage for new home in SEH. Things must be slowing down…

9 years ago
Reply to  outtamojo

They have two quick


They have two quick move in homes in the 940K range. 3776 sf
I’m sure these are great high quality homes, but by comparison, we recently bought a 10 year old home 3500 sf in Silver Crest for more than 300K less

as such, at that price they need to put incentives in, but at the lower price points 620-640K, the homes move in days after listing, just needs to be priced right