sdrealtor, it’s interesting that you found properties that are close to 30% down already (in this supposedly still stable market). Why would sellers discount their properties so much? Are they investors in trouble?
Also, would that mean that when the stats show 10% down, those properties will down further to 40-50%?
My take from following certain neighborhoods is that we’re already down 10-15%; but since those listed properties have not sold yet, they don’t reflect in the stats.
Are you thinking that the markets is down so much already that it can only turn around and go up, hence the buying opportunities you’re talking about? If one purchased those properties one would be stuck with albatrosses if the market kept on going down, down.
My feeling that one buys now only if one thinks that the market is almost done correcting. That’s the psychology and sentiment that PD and others have talked about.
