[quote=temeculaguy]And the horse you rode in on! Really, you sure you want to call me a chump? How many screen names do you have and do you really want to get another one?All I did was stick my neck out and make a prediction, one that I will gladly be ridiculed for over time if it turns out to be wrong. But I supported my argument with research, you told what only you consider is a funny joke.
250 REO’s is less than 2 months supply, who the fu$% cares. You have little to no clue about which you spew. Do not apply broad brush strokes and cliches to micro markets.
That 230k on main street works because it is 4x median income and 2x income for most of the shoppers. It doesn’t “seem” that everyone wants it, everyone does. I spent three years stalking a single zip code, I tracked every repo, every nod, every brown lawn. I know how many nods and nots there were six months ago, a year ago, two years ago and I followed them. A lot of inventory came out of the shadows here already, there are plenty of pending nod’s and not’s but compared to six months ago, a year ago, the speed and volume is slowing. There were more than 250 listings in every 100k price category last year, fromm 200k-300k, over 250, from 300k-400k, over 250, and so on. For three years I tracked every 100k category weekly and often the mls would notify me that there were more than 250, so I began grouping them into 75k chunks, now I can type “everything over 400k” and get less than a hundred. Over 350k and under 350k will cover the entire search, it used to take six groupings to capture the data.
Based on everything I see, not what some conspiracy knucklehead tells me but my own data searches that I and I alone have performed in a ritualistic fashion over years, I say the end of the pity party is near. I have street cred that I have earned over time, you do not, I have adoring fans, you do not, and I just looked in the mirror and I didn’t see a chump, did you?[/quote]
I did not single you out as a chump, hence the “s” on the end (chumpS). So unless you are plural, you can relax. However, if “you” believed someone holding thousands of houses when they told you that only putting a few on the market cannot DRASTICALLY increase housing prices then maybe? If you also believed that the coming wave of new REOs will not have an adverse affect on prices then the shoe fits?
I’ve had two screen names, Scarlet before RT.66. There is another Scarlett (2 Ts) so I changed it, no conspiracy about it.
The 250 number was random of course, but also for a area, like a hood, a few streets not all of TV. We all know that 250 is absurdly low for all of TV.
The banks are manipulating supply, everyone “should” know this. There is a tsunami of new preforeclosures and foreclosures on RealtyTrac right now, today. Again anybody can search this. If you buy a house in TV today because you believed someone who said inventory is low, you are indeed a chump.
We don’t have to argue about who’s facts or figures are more accurate. Anyone on this board can go hereand see for themselves:
And don’t forget that the shadow inventory houses are in ADDITION to that ugly picture from the link.
The banks love folks like you. Banks spew total BS, hide 80k houses in CA alone, stall foreclosures and instead of everyone collectively calling BULLSHIT! on them some folks who have skin in the game or need a commision buy it hook-line-and-sinker and perpetuate the BS.
TVGuy, post a RealtyTrac search of your vaulted zip code so we can see how good its doing?
Piggs need a voice of reason to counter the ultra cheerleaders. Most folks who buy today in TV will lose TENS OF THOUSAND$ that may never come back.
Look around you. Look at the foreclosures over the entire country. Ask yourself how banks are going to deal with this. Look at jobs and businesses closing all over. We have seen nothing since GD1 even close to the magnitude of what is happening now and its just getting started. You might want to think about the money people who listen to you will lose.
