16% decline expected in California in 2008

[NotCranky]

I agree with the 16% for the county next year maybe a little higher or a very little lower.
I think in 2009 the market will still be slow but volume will be higher than compared to this summer/fall by the same period of that year. Much of the fluke appreciation will have been shaken out. The areas that are affected last will be normalizing relative to location and ammenities of the surrounding areas taking the market down another 5-10%. The whole market stays relatively weak and there are perhaps still more declines for at least several years from there on out, probably not much.

Disclaimer:
This is just a guess.

[NotCranky]

“I thought that this group would not be so pedestrian, so utterly ordinary that I would be reading commentary no more elevated than what we can hear among the bags of bones populating any 7-11 entrance.”

Well I am here with my 78 ounce slurpee to tell you buddy, this is a right smart blog but the good partsnofit ain’t always the high falutin ones! Take that one about pot roast cookin real good lookin Marion fer instints. Have some fun.. the value of all these opinions is falling faster than a California condo anyhoo….sheeeeeet!

[NotCranky]

“I thought that this group would not be so pedestrian, so utterly ordinary that I would be reading commentary no more elevated than what we can hear among the bags of bones populating any 7-11 entrance.”

Well I am here with my 78 ounce slurpee to tell you buddy, this is a right smart blog but the good partsnofit ain’t always the high falutin ones! Take that one about pot roast cookin real good lookin Marion fer instints. Have some fun.. the value of all these opinions is falling faster than a California condo anyhoo….sheeeeeet!

[NotCranky]

“I thought that this group would not be so pedestrian, so utterly ordinary that I would be reading commentary no more elevated than what we can hear among the bags of bones populating any 7-11 entrance.”

Well I am here with my 78 ounce slurpee to tell you buddy, this is a right smart blog but the good partsnofit ain’t always the high falutin ones! Take that one about pot roast cookin real good lookin Marion fer instints. Have some fun.. the value of all these opinions is falling faster than a California condo anyhoo….sheeeeeet!

[NotCranky]

“I thought that this group would not be so pedestrian, so utterly ordinary that I would be reading commentary no more elevated than what we can hear among the bags of bones populating any 7-11 entrance.”

Well I am here with my 78 ounce slurpee to tell you buddy, this is a right smart blog but the good partsnofit ain’t always the high falutin ones! Take that one about pot roast cookin real good lookin Marion fer instints. Have some fun.. the value of all these opinions is falling faster than a California condo anyhoo….sheeeeeet!

[NotCranky]

“I thought that this group would not be so pedestrian, so utterly ordinary that I would be reading commentary no more elevated than what we can hear among the bags of bones populating any 7-11 entrance.”

Well I am here with my 78 ounce slurpee to tell you buddy, this is a right smart blog but the good partsnofit ain’t always the high falutin ones! Take that one about pot roast cookin real good lookin Marion fer instints. Have some fun.. the value of all these opinions is falling faster than a California condo anyhoo….sheeeeeet!

[cr]

This article just showed up on MSN: http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/HomePricesByCity.aspx?GT1=10622

Of most concern to us:
Metro area ——————————Rank-Qtr–1yr–5yr
Los Angeles-Long Beach-Glendale, CA–206 -0.53 -0.07 107.86
Santa Ana-Anaheim-Irvine, CA———-249 -1.89 -3.49 86.09
San Diego-Carlsbad-San Marcos, CA—-262 -1.85 -5.07 61.75
Riverside-San Bernardino-Ontario, CA–240 -2.25 -2.37 107.8

LA and Riverside still have over 100% appreciation rates in 5 years. Still some damage to come for sure.

Not that it changes what’s happening, but the use of “metro area” seems odd. In LA they use “LA, Long Beach, Glendale” as one area. That encompasses at least 7 areas codes (213, 323, 661, 626, 310, 818, and 562 are all I can think of) probably 10x as many zip codes, and maybe 10 million people, where Wausau, WI has less than 50,000 people, and probably one Zip code.

If anything it probably masks the real damage.

[cr]

This article just showed up on MSN: http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/HomePricesByCity.aspx?GT1=10622

Of most concern to us:
Metro area ——————————Rank-Qtr–1yr–5yr
Los Angeles-Long Beach-Glendale, CA–206 -0.53 -0.07 107.86
Santa Ana-Anaheim-Irvine, CA———-249 -1.89 -3.49 86.09
San Diego-Carlsbad-San Marcos, CA—-262 -1.85 -5.07 61.75
Riverside-San Bernardino-Ontario, CA–240 -2.25 -2.37 107.8

LA and Riverside still have over 100% appreciation rates in 5 years. Still some damage to come for sure.

Not that it changes what’s happening, but the use of “metro area” seems odd. In LA they use “LA, Long Beach, Glendale” as one area. That encompasses at least 7 areas codes (213, 323, 661, 626, 310, 818, and 562 are all I can think of) probably 10x as many zip codes, and maybe 10 million people, where Wausau, WI has less than 50,000 people, and probably one Zip code.

If anything it probably masks the real damage.

[cr]

This article just showed up on MSN: http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/HomePricesByCity.aspx?GT1=10622

Of most concern to us:
Metro area ——————————Rank-Qtr–1yr–5yr
Los Angeles-Long Beach-Glendale, CA–206 -0.53 -0.07 107.86
Santa Ana-Anaheim-Irvine, CA———-249 -1.89 -3.49 86.09
San Diego-Carlsbad-San Marcos, CA—-262 -1.85 -5.07 61.75
Riverside-San Bernardino-Ontario, CA–240 -2.25 -2.37 107.8

LA and Riverside still have over 100% appreciation rates in 5 years. Still some damage to come for sure.

Not that it changes what’s happening, but the use of “metro area” seems odd. In LA they use “LA, Long Beach, Glendale” as one area. That encompasses at least 7 areas codes (213, 323, 661, 626, 310, 818, and 562 are all I can think of) probably 10x as many zip codes, and maybe 10 million people, where Wausau, WI has less than 50,000 people, and probably one Zip code.

If anything it probably masks the real damage.

[cr]

This article just showed up on MSN: http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/HomePricesByCity.aspx?GT1=10622

Of most concern to us:
Metro area ——————————Rank-Qtr–1yr–5yr
Los Angeles-Long Beach-Glendale, CA–206 -0.53 -0.07 107.86
Santa Ana-Anaheim-Irvine, CA———-249 -1.89 -3.49 86.09
San Diego-Carlsbad-San Marcos, CA—-262 -1.85 -5.07 61.75
Riverside-San Bernardino-Ontario, CA–240 -2.25 -2.37 107.8

LA and Riverside still have over 100% appreciation rates in 5 years. Still some damage to come for sure.

Not that it changes what’s happening, but the use of “metro area” seems odd. In LA they use “LA, Long Beach, Glendale” as one area. That encompasses at least 7 areas codes (213, 323, 661, 626, 310, 818, and 562 are all I can think of) probably 10x as many zip codes, and maybe 10 million people, where Wausau, WI has less than 50,000 people, and probably one Zip code.

If anything it probably masks the real damage.

[cr]

This article just showed up on MSN: http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/HomePricesByCity.aspx?GT1=10622

Of most concern to us:
Metro area ——————————Rank-Qtr–1yr–5yr
Los Angeles-Long Beach-Glendale, CA–206 -0.53 -0.07 107.86
Santa Ana-Anaheim-Irvine, CA———-249 -1.89 -3.49 86.09
San Diego-Carlsbad-San Marcos, CA—-262 -1.85 -5.07 61.75
Riverside-San Bernardino-Ontario, CA–240 -2.25 -2.37 107.8

LA and Riverside still have over 100% appreciation rates in 5 years. Still some damage to come for sure.

Not that it changes what’s happening, but the use of “metro area” seems odd. In LA they use “LA, Long Beach, Glendale” as one area. That encompasses at least 7 areas codes (213, 323, 661, 626, 310, 818, and 562 are all I can think of) probably 10x as many zip codes, and maybe 10 million people, where Wausau, WI has less than 50,000 people, and probably one Zip code.

If anything it probably masks the real damage.

[pertinazzio]

>>Well I am here with my 78 ounce slurpee to tell you buddy, this is a right smart blog >>

Well I agree with that…just expressin’ my opinion like everybody else.

[pertinazzio]

>>Well I am here with my 78 ounce slurpee to tell you buddy, this is a right smart blog >>

Well I agree with that…just expressin’ my opinion like everybody else.

[pertinazzio]

>>Well I am here with my 78 ounce slurpee to tell you buddy, this is a right smart blog >>

Well I agree with that…just expressin’ my opinion like everybody else.

[pertinazzio]

>>Well I am here with my 78 ounce slurpee to tell you buddy, this is a right smart blog >>

Well I agree with that…just expressin’ my opinion like everybody else.

[Author]

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