4S ranch–Pienza Jan release

[Eugene]

Most of sub-700k homes appear to be condos. Just last month someone paid 498k for a 1700 s.f. condo in 4S ranch. Does not inspire confidence in imminent major declines. 10228 Lone Dove (sold 789k 11/07) is the cheapest “real” big detached house.

What seems to be happening from your numbers is that there is some degree of contraction at the extreme upper end. So, houses that were outrageously expensive (900K+) are becoming simply too expensive (700-800K) but the magic 700K barrier can’t be broken.

I wonder what kinds of people are buying all those houses.

They can’t all be move-up buyers, can they?

Do we have enough people who can really afford 100K downpayments, 600K fixed-rate mortgages, 7K/year property taxes, and 5K/year mello-roos?

[Eugene]

Most of sub-700k homes appear to be condos. Just last month someone paid 498k for a 1700 s.f. condo in 4S ranch. Does not inspire confidence in imminent major declines. 10228 Lone Dove (sold 789k 11/07) is the cheapest “real” big detached house.

What seems to be happening from your numbers is that there is some degree of contraction at the extreme upper end. So, houses that were outrageously expensive (900K+) are becoming simply too expensive (700-800K) but the magic 700K barrier can’t be broken.

I wonder what kinds of people are buying all those houses.

They can’t all be move-up buyers, can they?

Do we have enough people who can really afford 100K downpayments, 600K fixed-rate mortgages, 7K/year property taxes, and 5K/year mello-roos?

[Eugene]

Most of sub-700k homes appear to be condos. Just last month someone paid 498k for a 1700 s.f. condo in 4S ranch. Does not inspire confidence in imminent major declines. 10228 Lone Dove (sold 789k 11/07) is the cheapest “real” big detached house.

What seems to be happening from your numbers is that there is some degree of contraction at the extreme upper end. So, houses that were outrageously expensive (900K+) are becoming simply too expensive (700-800K) but the magic 700K barrier can’t be broken.

I wonder what kinds of people are buying all those houses.

They can’t all be move-up buyers, can they?

Do we have enough people who can really afford 100K downpayments, 600K fixed-rate mortgages, 7K/year property taxes, and 5K/year mello-roos?

[Eugene]

BTW about that 9 lives home… ForeclosureRadar says it’s been postponed b/c of “Bankruptcy”.

Also, it’s been postponed again, this time till 2/6/08.

[Eugene]

BTW about that 9 lives home… ForeclosureRadar says it’s been postponed b/c of “Bankruptcy”.

Also, it’s been postponed again, this time till 2/6/08.

[Eugene]

BTW about that 9 lives home… ForeclosureRadar says it’s been postponed b/c of “Bankruptcy”.

Also, it’s been postponed again, this time till 2/6/08.

[Eugene]

BTW about that 9 lives home… ForeclosureRadar says it’s been postponed b/c of “Bankruptcy”.

Also, it’s been postponed again, this time till 2/6/08.

[Eugene]

BTW about that 9 lives home… ForeclosureRadar says it’s been postponed b/c of “Bankruptcy”.

Also, it’s been postponed again, this time till 2/6/08.

[sdrealtor]

“Do we have enough people who can really afford 100K downpayments, 600K fixed-rate mortgages, 7K/year property taxes, and 5K/year mello-roos?”

At this point yes. Look, we only needed less than a dozen folks that needed to fit that profile in county of 3,000,000. Until the distress numbers turn sharply upward there will be support for relatively high prices.

[sdrealtor]

“Do we have enough people who can really afford 100K downpayments, 600K fixed-rate mortgages, 7K/year property taxes, and 5K/year mello-roos?”

At this point yes. Look, we only needed less than a dozen folks that needed to fit that profile in county of 3,000,000. Until the distress numbers turn sharply upward there will be support for relatively high prices.

[sdrealtor]

“Do we have enough people who can really afford 100K downpayments, 600K fixed-rate mortgages, 7K/year property taxes, and 5K/year mello-roos?”

At this point yes. Look, we only needed less than a dozen folks that needed to fit that profile in county of 3,000,000. Until the distress numbers turn sharply upward there will be support for relatively high prices.

[sdrealtor]

“Do we have enough people who can really afford 100K downpayments, 600K fixed-rate mortgages, 7K/year property taxes, and 5K/year mello-roos?”

At this point yes. Look, we only needed less than a dozen folks that needed to fit that profile in county of 3,000,000. Until the distress numbers turn sharply upward there will be support for relatively high prices.

[sdrealtor]

“Do we have enough people who can really afford 100K downpayments, 600K fixed-rate mortgages, 7K/year property taxes, and 5K/year mello-roos?”

At this point yes. Look, we only needed less than a dozen folks that needed to fit that profile in county of 3,000,000. Until the distress numbers turn sharply upward there will be support for relatively high prices.

[SD Realtor]

At this point I heavily agree with sdr and esmith. Indeed the data does not support a 3000 sf home going for 470k or some crazy amount of money in the near future. Unless there is a very large spike in unemployment or interest rates I don’t see it happening for a long time based on the raw data.

SD Realtor

[SD Realtor]

At this point I heavily agree with sdr and esmith. Indeed the data does not support a 3000 sf home going for 470k or some crazy amount of money in the near future. Unless there is a very large spike in unemployment or interest rates I don’t see it happening for a long time based on the raw data.

SD Realtor

[Author]

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