Activity Lately

[CA renter]

FWIW, **ALL** of the homes in our area (So. CBD) have sold within the past few weeks. Some looked like cash deals because the escrows were so short.

We do see this pattern (spring bounce, of some sort) every year, but this year was indeed reminiscient of 2004/2005 with all the activity — though it did take longer to sell than in ’04/’05.

We even wanted to try a lowball in Escondido on an REO, but they had at least one full-price offer on it. (Too bad, because we really liked the house.)

Definitely a “hot” spring in the RE market from what I’ve seen. Everybody’s getting excited about the drops (including me!), but if you look at the historical prices of these homes, you’ll see they’re still too high…IMHO. 🙂

P.S.: I also enjoyed your longer post, SD R!

[donaldduckmoore]

First I am not trying to tell people to buy when they are able to. Because people may have a different standard of affordability, and there are still lots of buyers waiting to buy. Once the so-called affordability level reach certain number of buyers, they will start to offer. Yes, indeed there are inventory increase and a lot of them are must-sell. But don’t forget that most of the must-sells in this market are REOs or short-sale (not as many). Most of the REOs are in poor quality that one needs to spend a lot of money to repair. Those that did not have a “knife catcher” will continue to fall in price but will you buy an extremely poor quality REOs when it becomes affordable to your level. I have been searching for houses to buy for 3 years in PQ. I had the same affordability mentality like yours and I believed they should continue to drop. They do but those are broken houses and you don’t want to buy. I have never seen anything with a good price range and good quality. House hunting is quite frustrating. In the end, I gave up. Just my personal experience.

JohnAlt91941, what I meant is that there are always people who are having a higher affordability than you. When you see a house you like and you low ball or you wait until it hits your affordability level. The house will be taken. Well, there are still some fixer-upper that may cost a lot less but you cannot tell how much you will have to invest to fix the problems before you move in. One good example is the one on Sparren in PQ (I forgot the street number). It was reduced to the $300k range but it has foundation problem and a lot of broken pieces here and there. Will you buy it? I heard that those who bought it were civil engineer. But there were still a number of offers. Do you get what I mean?

[donaldduckmoore]

First I am not trying to tell people to buy when they are able to. Because people may have a different standard of affordability, and there are still lots of buyers waiting to buy. Once the so-called affordability level reach certain number of buyers, they will start to offer. Yes, indeed there are inventory increase and a lot of them are must-sell. But don’t forget that most of the must-sells in this market are REOs or short-sale (not as many). Most of the REOs are in poor quality that one needs to spend a lot of money to repair. Those that did not have a “knife catcher” will continue to fall in price but will you buy an extremely poor quality REOs when it becomes affordable to your level. I have been searching for houses to buy for 3 years in PQ. I had the same affordability mentality like yours and I believed they should continue to drop. They do but those are broken houses and you don’t want to buy. I have never seen anything with a good price range and good quality. House hunting is quite frustrating. In the end, I gave up. Just my personal experience.

JohnAlt91941, what I meant is that there are always people who are having a higher affordability than you. When you see a house you like and you low ball or you wait until it hits your affordability level. The house will be taken. Well, there are still some fixer-upper that may cost a lot less but you cannot tell how much you will have to invest to fix the problems before you move in. One good example is the one on Sparren in PQ (I forgot the street number). It was reduced to the $300k range but it has foundation problem and a lot of broken pieces here and there. Will you buy it? I heard that those who bought it were civil engineer. But there were still a number of offers. Do you get what I mean?

[donaldduckmoore]

First I am not trying to tell people to buy when they are able to. Because people may have a different standard of affordability, and there are still lots of buyers waiting to buy. Once the so-called affordability level reach certain number of buyers, they will start to offer. Yes, indeed there are inventory increase and a lot of them are must-sell. But don’t forget that most of the must-sells in this market are REOs or short-sale (not as many). Most of the REOs are in poor quality that one needs to spend a lot of money to repair. Those that did not have a “knife catcher” will continue to fall in price but will you buy an extremely poor quality REOs when it becomes affordable to your level. I have been searching for houses to buy for 3 years in PQ. I had the same affordability mentality like yours and I believed they should continue to drop. They do but those are broken houses and you don’t want to buy. I have never seen anything with a good price range and good quality. House hunting is quite frustrating. In the end, I gave up. Just my personal experience.

JohnAlt91941, what I meant is that there are always people who are having a higher affordability than you. When you see a house you like and you low ball or you wait until it hits your affordability level. The house will be taken. Well, there are still some fixer-upper that may cost a lot less but you cannot tell how much you will have to invest to fix the problems before you move in. One good example is the one on Sparren in PQ (I forgot the street number). It was reduced to the $300k range but it has foundation problem and a lot of broken pieces here and there. Will you buy it? I heard that those who bought it were civil engineer. But there were still a number of offers. Do you get what I mean?

[donaldduckmoore]

First I am not trying to tell people to buy when they are able to. Because people may have a different standard of affordability, and there are still lots of buyers waiting to buy. Once the so-called affordability level reach certain number of buyers, they will start to offer. Yes, indeed there are inventory increase and a lot of them are must-sell. But don’t forget that most of the must-sells in this market are REOs or short-sale (not as many). Most of the REOs are in poor quality that one needs to spend a lot of money to repair. Those that did not have a “knife catcher” will continue to fall in price but will you buy an extremely poor quality REOs when it becomes affordable to your level. I have been searching for houses to buy for 3 years in PQ. I had the same affordability mentality like yours and I believed they should continue to drop. They do but those are broken houses and you don’t want to buy. I have never seen anything with a good price range and good quality. House hunting is quite frustrating. In the end, I gave up. Just my personal experience.

JohnAlt91941, what I meant is that there are always people who are having a higher affordability than you. When you see a house you like and you low ball or you wait until it hits your affordability level. The house will be taken. Well, there are still some fixer-upper that may cost a lot less but you cannot tell how much you will have to invest to fix the problems before you move in. One good example is the one on Sparren in PQ (I forgot the street number). It was reduced to the $300k range but it has foundation problem and a lot of broken pieces here and there. Will you buy it? I heard that those who bought it were civil engineer. But there were still a number of offers. Do you get what I mean?

[donaldduckmoore]

First I am not trying to tell people to buy when they are able to. Because people may have a different standard of affordability, and there are still lots of buyers waiting to buy. Once the so-called affordability level reach certain number of buyers, they will start to offer. Yes, indeed there are inventory increase and a lot of them are must-sell. But don’t forget that most of the must-sells in this market are REOs or short-sale (not as many). Most of the REOs are in poor quality that one needs to spend a lot of money to repair. Those that did not have a “knife catcher” will continue to fall in price but will you buy an extremely poor quality REOs when it becomes affordable to your level. I have been searching for houses to buy for 3 years in PQ. I had the same affordability mentality like yours and I believed they should continue to drop. They do but those are broken houses and you don’t want to buy. I have never seen anything with a good price range and good quality. House hunting is quite frustrating. In the end, I gave up. Just my personal experience.

JohnAlt91941, what I meant is that there are always people who are having a higher affordability than you. When you see a house you like and you low ball or you wait until it hits your affordability level. The house will be taken. Well, there are still some fixer-upper that may cost a lot less but you cannot tell how much you will have to invest to fix the problems before you move in. One good example is the one on Sparren in PQ (I forgot the street number). It was reduced to the $300k range but it has foundation problem and a lot of broken pieces here and there. Will you buy it? I heard that those who bought it were civil engineer. But there were still a number of offers. Do you get what I mean?

[CA renter]

Bumping this thread because I think it’s so similar to what we are talking about today.

Also, this (very strong sales last year) is why in the “spring 2009 prediction” thread, I thought we’d see a strong bounce this spring, but not as many sales as last year. BTW, how do this year’s sales compare to last year in the different zips? (if our resident realtors would be kind enough to help out here!) 😉

Sales are strong because prices are down and interest rates are extremely low. I’ve heard many people cite the $8,000 gift from taxpayers as a reason they are buying this year, in addition to prices/interest rates.

Anyway, it will be interesting to see how this year pans out…as always. 🙂

[CA renter]

Bumping this thread because I think it’s so similar to what we are talking about today.

Also, this (very strong sales last year) is why in the “spring 2009 prediction” thread, I thought we’d see a strong bounce this spring, but not as many sales as last year. BTW, how do this year’s sales compare to last year in the different zips? (if our resident realtors would be kind enough to help out here!) 😉

Sales are strong because prices are down and interest rates are extremely low. I’ve heard many people cite the $8,000 gift from taxpayers as a reason they are buying this year, in addition to prices/interest rates.

Anyway, it will be interesting to see how this year pans out…as always. 🙂

[CA renter]

Bumping this thread because I think it’s so similar to what we are talking about today.

Also, this (very strong sales last year) is why in the “spring 2009 prediction” thread, I thought we’d see a strong bounce this spring, but not as many sales as last year. BTW, how do this year’s sales compare to last year in the different zips? (if our resident realtors would be kind enough to help out here!) 😉

Sales are strong because prices are down and interest rates are extremely low. I’ve heard many people cite the $8,000 gift from taxpayers as a reason they are buying this year, in addition to prices/interest rates.

Anyway, it will be interesting to see how this year pans out…as always. 🙂

[CA renter]

Bumping this thread because I think it’s so similar to what we are talking about today.

Also, this (very strong sales last year) is why in the “spring 2009 prediction” thread, I thought we’d see a strong bounce this spring, but not as many sales as last year. BTW, how do this year’s sales compare to last year in the different zips? (if our resident realtors would be kind enough to help out here!) 😉

Sales are strong because prices are down and interest rates are extremely low. I’ve heard many people cite the $8,000 gift from taxpayers as a reason they are buying this year, in addition to prices/interest rates.

Anyway, it will be interesting to see how this year pans out…as always. 🙂

[CA renter]

Bumping this thread because I think it’s so similar to what we are talking about today.

Also, this (very strong sales last year) is why in the “spring 2009 prediction” thread, I thought we’d see a strong bounce this spring, but not as many sales as last year. BTW, how do this year’s sales compare to last year in the different zips? (if our resident realtors would be kind enough to help out here!) 😉

Sales are strong because prices are down and interest rates are extremely low. I’ve heard many people cite the $8,000 gift from taxpayers as a reason they are buying this year, in addition to prices/interest rates.

Anyway, it will be interesting to see how this year pans out…as always. 🙂

[SD Realtor]

I will try to look at numbers tonite CAR but from my recollection the volume of sales was up fairly substantially over last year for many zips. Not just the low end ones either as people like to downplay it.

If I do not get numbers to you tonite please bump the thread again as I am super swamped and tomorrow will have more time.

[SD Realtor]

I will try to look at numbers tonite CAR but from my recollection the volume of sales was up fairly substantially over last year for many zips. Not just the low end ones either as people like to downplay it.

If I do not get numbers to you tonite please bump the thread again as I am super swamped and tomorrow will have more time.

[SD Realtor]

I will try to look at numbers tonite CAR but from my recollection the volume of sales was up fairly substantially over last year for many zips. Not just the low end ones either as people like to downplay it.

If I do not get numbers to you tonite please bump the thread again as I am super swamped and tomorrow will have more time.

[SD Realtor]

I will try to look at numbers tonite CAR but from my recollection the volume of sales was up fairly substantially over last year for many zips. Not just the low end ones either as people like to downplay it.

If I do not get numbers to you tonite please bump the thread again as I am super swamped and tomorrow will have more time.

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