22% Drop in Calif Home Sales from Jun to Jul

[sdrealtor]

Looking at a single month can be very decieiving. Look at the sales patterns over the last year or two to get anything meaningful. Sales are alos hamstrung by lenders. I have 6 lisitngs that should have closed already if not for lender incompetence on short sale processing. Inventory of sellable homes is still relatively low.

On the other side in markets where there is inventory, homes fly off the shelves. I spent most of the last 2 months shopping for a home in Clairemont with a buyer client. There are lots of organic sales as it is older and there has been a fair amount of turnover among older residents with lots of equity. Anything decent priced within reason of current comps sells in a few weeks if not days.

Also at current interest rates rent vs buy fundamentals are no longer far off in mid to upper mid priced homes.

[investor]

smshorttimer:Well, once the pending foreclosures hit the market….

[investor]

smshorttimer:Well, once the pending foreclosures hit the market….

[investor]

smshorttimer:Well, once the pending foreclosures hit the market….

[investor]

smshorttimer:Well, once the pending foreclosures hit the market….

[investor]

smshorttimer:Well, once the pending foreclosures hit the market….

[briansd1]

[quote=sdrealtor]
Also at current interest rates rent vs buy fundamentals are no longer far off in mid to upper mid priced homes.[/quote]

Here’s another take at it.

If you’re already living below your means, maybe the recession is a good opportunity to splurge, pay a little extra, and rent something that you would not buy otherwise. Perhaps rent one or two levels above what you would otherwise buy. Enjoy the lifestyle while you can. Rent a nice place for a couple years, then move.

For example, you may not stay at the best hotels regularly. But prices are low now, so when on vacation why not rent a room and enjoy it while the prices are low.

[briansd1]

[quote=sdrealtor]
Also at current interest rates rent vs buy fundamentals are no longer far off in mid to upper mid priced homes.[/quote]

Here’s another take at it.

If you’re already living below your means, maybe the recession is a good opportunity to splurge, pay a little extra, and rent something that you would not buy otherwise. Perhaps rent one or two levels above what you would otherwise buy. Enjoy the lifestyle while you can. Rent a nice place for a couple years, then move.

For example, you may not stay at the best hotels regularly. But prices are low now, so when on vacation why not rent a room and enjoy it while the prices are low.

[briansd1]

[quote=sdrealtor]
Also at current interest rates rent vs buy fundamentals are no longer far off in mid to upper mid priced homes.[/quote]

Here’s another take at it.

If you’re already living below your means, maybe the recession is a good opportunity to splurge, pay a little extra, and rent something that you would not buy otherwise. Perhaps rent one or two levels above what you would otherwise buy. Enjoy the lifestyle while you can. Rent a nice place for a couple years, then move.

For example, you may not stay at the best hotels regularly. But prices are low now, so when on vacation why not rent a room and enjoy it while the prices are low.

[briansd1]

[quote=sdrealtor]
Also at current interest rates rent vs buy fundamentals are no longer far off in mid to upper mid priced homes.[/quote]

Here’s another take at it.

If you’re already living below your means, maybe the recession is a good opportunity to splurge, pay a little extra, and rent something that you would not buy otherwise. Perhaps rent one or two levels above what you would otherwise buy. Enjoy the lifestyle while you can. Rent a nice place for a couple years, then move.

For example, you may not stay at the best hotels regularly. But prices are low now, so when on vacation why not rent a room and enjoy it while the prices are low.

[briansd1]

[quote=sdrealtor]
Also at current interest rates rent vs buy fundamentals are no longer far off in mid to upper mid priced homes.[/quote]

Here’s another take at it.

If you’re already living below your means, maybe the recession is a good opportunity to splurge, pay a little extra, and rent something that you would not buy otherwise. Perhaps rent one or two levels above what you would otherwise buy. Enjoy the lifestyle while you can. Rent a nice place for a couple years, then move.

For example, you may not stay at the best hotels regularly. But prices are low now, so when on vacation why not rent a room and enjoy it while the prices are low.

[sdrealtor]

Another fine idea and make sure to ask your landlord or hotelier to lock you into those recessionary rates for the next 30 years.

[sdrealtor]

Another fine idea and make sure to ask your landlord or hotelier to lock you into those recessionary rates for the next 30 years.

[sdrealtor]

Another fine idea and make sure to ask your landlord or hotelier to lock you into those recessionary rates for the next 30 years.

[sdrealtor]

Another fine idea and make sure to ask your landlord or hotelier to lock you into those recessionary rates for the next 30 years.

[Author]

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