Apparently we are at the bottom in Cali

[Allan from Fallbrook]

sdr: Agreed. However, the drops are happening with greater frequency, and by larger amounts.

I use my purchase in 2003 as a yardstick (the market was accelerating at that point, but not nearly as fast as other parts of San Diego, plus I managed to drive a real good deal with a contractor friend who was in financial difficulties). I paid $425k for a 3,400sf custom on 1.2ac. I use approx $150/sf as a “reasonable” ppsf price, depending on quality. We are starting to get back to that point, albeit less quickly than I thought.

Temecula has some tempting prices, including the nicer areas like Morgan Hill and parts of Redhawk. If TG didn’t live there, I might consider picking one up as a rental.

I’m kidding, TG.

I think.

[gandalf]

The buying uptick, do you think it has legs? Predictions re: next 12 months of growth aren’t great. Seems like everything is contracting right now, jobs, spending, contracts, etc.

I don’t want to be pessimistic. Price ratios are COMPELLING. That’s exactly what we want to see.

And I agree — sharp correction would be better in the long run. Let the market adjust.

So much hinges on the broader economy holding together, another $1T in charges on the way in banking alone (we’re through about $300B).

[gandalf]

The buying uptick, do you think it has legs? Predictions re: next 12 months of growth aren’t great. Seems like everything is contracting right now, jobs, spending, contracts, etc.

I don’t want to be pessimistic. Price ratios are COMPELLING. That’s exactly what we want to see.

And I agree — sharp correction would be better in the long run. Let the market adjust.

So much hinges on the broader economy holding together, another $1T in charges on the way in banking alone (we’re through about $300B).

[gandalf]

The buying uptick, do you think it has legs? Predictions re: next 12 months of growth aren’t great. Seems like everything is contracting right now, jobs, spending, contracts, etc.

I don’t want to be pessimistic. Price ratios are COMPELLING. That’s exactly what we want to see.

And I agree — sharp correction would be better in the long run. Let the market adjust.

So much hinges on the broader economy holding together, another $1T in charges on the way in banking alone (we’re through about $300B).

[gandalf]

The buying uptick, do you think it has legs? Predictions re: next 12 months of growth aren’t great. Seems like everything is contracting right now, jobs, spending, contracts, etc.

I don’t want to be pessimistic. Price ratios are COMPELLING. That’s exactly what we want to see.

And I agree — sharp correction would be better in the long run. Let the market adjust.

So much hinges on the broader economy holding together, another $1T in charges on the way in banking alone (we’re through about $300B).

[gandalf]

The buying uptick, do you think it has legs? Predictions re: next 12 months of growth aren’t great. Seems like everything is contracting right now, jobs, spending, contracts, etc.

I don’t want to be pessimistic. Price ratios are COMPELLING. That’s exactly what we want to see.

And I agree — sharp correction would be better in the long run. Let the market adjust.

So much hinges on the broader economy holding together, another $1T in charges on the way in banking alone (we’re through about $300B).

[paramount]

I have been using the $100/ sq. ft. rule to gauge prices – many listings are well above that level, even in Wolf Creek.

I have not seen any listings in Wolf Creek anywhere near 300k, most are well above that price point.

[paramount]

I have been using the $100/ sq. ft. rule to gauge prices – many listings are well above that level, even in Wolf Creek.

I have not seen any listings in Wolf Creek anywhere near 300k, most are well above that price point.

[paramount]

I have been using the $100/ sq. ft. rule to gauge prices – many listings are well above that level, even in Wolf Creek.

I have not seen any listings in Wolf Creek anywhere near 300k, most are well above that price point.

[paramount]

I have been using the $100/ sq. ft. rule to gauge prices – many listings are well above that level, even in Wolf Creek.

I have not seen any listings in Wolf Creek anywhere near 300k, most are well above that price point.

[paramount]

I have been using the $100/ sq. ft. rule to gauge prices – many listings are well above that level, even in Wolf Creek.

I have not seen any listings in Wolf Creek anywhere near 300k, most are well above that price point.

[temeculaguy]

paramount, there are a bunch of wolf creek listings at exactly 300k, so many it’s comical actually. It seems that is the only price they know. However 100 a square hasn’t hit anything but the whoppers, it will.

http://www.redfin.com/CA/Temecula/31913-Penguin-Pl-92592/home/6645625

http://www.redfin.com/CA/Temecula/45675-Pheasant-Pl-92592/home/6645309

http://www.redfin.com/CA/Temecula/45530-Hawk-Ct-92592/home/6645633

http://www.redfin.com/CA/Temecula/45549-Jaguar-Way-92592/home/6645666

They are all about 2500-2700 sg ft so they are all over 100 a square and have 2 car garages. They are also all on the North side of wolf valley where the repos started fisrt because they are older by a year. I know you like redwood, saw a beauty list for 399 and go away and this monster just reduced to 425 on a short

http://www.redfin.com/CA/Temecula/32243-Fireside-Dr-92592/home/12270034

One story homes seem to be falling as well in ppsf, something that is pretty recent.

http://www.redfin.com/CA/Temecula/45646-Seagull-Way-92592/home/6645225

http://www.redfin.com/CA/Temecula/31998-LODGE-HOUSE-Ct-92592/home/16901861

http://www.redfin.com/CA/Temecula/31205-Sweetgum-Pl-92592/home/6644983

http://www.redfin.com/CA/Temecula/31229-Sweetgum-Pl-92592/home/6644977

The builders are way behind, they are priced 20-30% over repos in their own tracts, I’m fearful that they are going to start folding their tents this fall, I think the building costs may be higher than the market price.

[temeculaguy]

paramount, there are a bunch of wolf creek listings at exactly 300k, so many it’s comical actually. It seems that is the only price they know. However 100 a square hasn’t hit anything but the whoppers, it will.

http://www.redfin.com/CA/Temecula/31913-Penguin-Pl-92592/home/6645625

http://www.redfin.com/CA/Temecula/45675-Pheasant-Pl-92592/home/6645309

http://www.redfin.com/CA/Temecula/45530-Hawk-Ct-92592/home/6645633

http://www.redfin.com/CA/Temecula/45549-Jaguar-Way-92592/home/6645666

They are all about 2500-2700 sg ft so they are all over 100 a square and have 2 car garages. They are also all on the North side of wolf valley where the repos started fisrt because they are older by a year. I know you like redwood, saw a beauty list for 399 and go away and this monster just reduced to 425 on a short

http://www.redfin.com/CA/Temecula/32243-Fireside-Dr-92592/home/12270034

One story homes seem to be falling as well in ppsf, something that is pretty recent.

http://www.redfin.com/CA/Temecula/45646-Seagull-Way-92592/home/6645225

http://www.redfin.com/CA/Temecula/31998-LODGE-HOUSE-Ct-92592/home/16901861

http://www.redfin.com/CA/Temecula/31205-Sweetgum-Pl-92592/home/6644983

http://www.redfin.com/CA/Temecula/31229-Sweetgum-Pl-92592/home/6644977

The builders are way behind, they are priced 20-30% over repos in their own tracts, I’m fearful that they are going to start folding their tents this fall, I think the building costs may be higher than the market price.

[temeculaguy]

paramount, there are a bunch of wolf creek listings at exactly 300k, so many it’s comical actually. It seems that is the only price they know. However 100 a square hasn’t hit anything but the whoppers, it will.

http://www.redfin.com/CA/Temecula/31913-Penguin-Pl-92592/home/6645625

http://www.redfin.com/CA/Temecula/45675-Pheasant-Pl-92592/home/6645309

http://www.redfin.com/CA/Temecula/45530-Hawk-Ct-92592/home/6645633

http://www.redfin.com/CA/Temecula/45549-Jaguar-Way-92592/home/6645666

They are all about 2500-2700 sg ft so they are all over 100 a square and have 2 car garages. They are also all on the North side of wolf valley where the repos started fisrt because they are older by a year. I know you like redwood, saw a beauty list for 399 and go away and this monster just reduced to 425 on a short

http://www.redfin.com/CA/Temecula/32243-Fireside-Dr-92592/home/12270034

One story homes seem to be falling as well in ppsf, something that is pretty recent.

http://www.redfin.com/CA/Temecula/45646-Seagull-Way-92592/home/6645225

http://www.redfin.com/CA/Temecula/31998-LODGE-HOUSE-Ct-92592/home/16901861

http://www.redfin.com/CA/Temecula/31205-Sweetgum-Pl-92592/home/6644983

http://www.redfin.com/CA/Temecula/31229-Sweetgum-Pl-92592/home/6644977

The builders are way behind, they are priced 20-30% over repos in their own tracts, I’m fearful that they are going to start folding their tents this fall, I think the building costs may be higher than the market price.

[temeculaguy]

paramount, there are a bunch of wolf creek listings at exactly 300k, so many it’s comical actually. It seems that is the only price they know. However 100 a square hasn’t hit anything but the whoppers, it will.

http://www.redfin.com/CA/Temecula/31913-Penguin-Pl-92592/home/6645625

http://www.redfin.com/CA/Temecula/45675-Pheasant-Pl-92592/home/6645309

http://www.redfin.com/CA/Temecula/45530-Hawk-Ct-92592/home/6645633

http://www.redfin.com/CA/Temecula/45549-Jaguar-Way-92592/home/6645666

They are all about 2500-2700 sg ft so they are all over 100 a square and have 2 car garages. They are also all on the North side of wolf valley where the repos started fisrt because they are older by a year. I know you like redwood, saw a beauty list for 399 and go away and this monster just reduced to 425 on a short

http://www.redfin.com/CA/Temecula/32243-Fireside-Dr-92592/home/12270034

One story homes seem to be falling as well in ppsf, something that is pretty recent.

http://www.redfin.com/CA/Temecula/45646-Seagull-Way-92592/home/6645225

http://www.redfin.com/CA/Temecula/31998-LODGE-HOUSE-Ct-92592/home/16901861

http://www.redfin.com/CA/Temecula/31205-Sweetgum-Pl-92592/home/6644983

http://www.redfin.com/CA/Temecula/31229-Sweetgum-Pl-92592/home/6644977

The builders are way behind, they are priced 20-30% over repos in their own tracts, I’m fearful that they are going to start folding their tents this fall, I think the building costs may be higher than the market price.

[Author]

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