Bargain-hunters swarm market

[pizzaman]

This article ran on the front page of the Californian this morning http://tiny.cc/IsCCs . The headline gives you an idea of the tone but it whats not in the article that’s more interesting. The happy homeowner pictured says he “stole” his house from the bank for $385,000. I know this house and this neighborhood. Theres a part of this story that remains to be told. The house is a Standard Pacific Oakhurst Collection plan 3 with 3165 sq ft. So our guy “stole” it from the bank last month for $122psf. Well he could have waited a month longer and bought this one which is the same model in the same tract http://www.redfin.com/stingray/do/printable-listing?listing-id=1629339 (if the link goes away its $332,000 or $105psf). For whats its worth the $385,000 house does have a lot with a view. I hope hes enjoying it because its already cost him $53,000. Its one thing to be a “knife catcher” and fade away but its special when you get your picture plastered on the front page of the newspaper. Too funny.

[mixxalot]

Knife catchers are gonna get spanked over next few years.

I read today that market is expected to drop for next few years or longer. Americuns dont know how to save! Only to spend with money that do not have!

[mixxalot]

Knife catchers are gonna get spanked over next few years.

I read today that market is expected to drop for next few years or longer. Americuns dont know how to save! Only to spend with money that do not have!

[mixxalot]

Knife catchers are gonna get spanked over next few years.

I read today that market is expected to drop for next few years or longer. Americuns dont know how to save! Only to spend with money that do not have!

[mixxalot]

Knife catchers are gonna get spanked over next few years.

I read today that market is expected to drop for next few years or longer. Americuns dont know how to save! Only to spend with money that do not have!

[mixxalot]

Knife catchers are gonna get spanked over next few years.

I read today that market is expected to drop for next few years or longer. Americuns dont know how to save! Only to spend with money that do not have!

[DWCAP]

Ok, I musta got confused cause this got crossed in my mind.

“Escrows closed on 522 homes in March, the largest number since August 2006, according to monthly totals from the region’s most widely used real estate listing service. The number rose by double digits from year-ago levels in January, and again in February and in March.”

From the same article, just farther down……..

“Separately, DataQuick Information Systems, a research firm, reported that 2,690 new and existing homes sold last month across Riverside County as a whole, down 27 percent from March 2007. The countywide median price, the point where half the homes sell for more and half sell for less, fell to $306,000 from $420,000, DataQuick reported.

WTF? So sales are UP double digits over 2007 in both January, Feburary and March but they are also down 27% in March according to DataQuick? What is that, a 37%+ margin of difference?
So, either they are breaking it down in a “northern” Riverside county vs “southern” Riverside county, and the Northern part is taking it in the pants, or they are not counting condos in the first one but are in the second and they are the ones taking it in the pants. Or some fuzzy math is going on here.

Either that or I just dont get it.

[DWCAP]

Ok, I musta got confused cause this got crossed in my mind.

“Escrows closed on 522 homes in March, the largest number since August 2006, according to monthly totals from the region’s most widely used real estate listing service. The number rose by double digits from year-ago levels in January, and again in February and in March.”

From the same article, just farther down……..

“Separately, DataQuick Information Systems, a research firm, reported that 2,690 new and existing homes sold last month across Riverside County as a whole, down 27 percent from March 2007. The countywide median price, the point where half the homes sell for more and half sell for less, fell to $306,000 from $420,000, DataQuick reported.

WTF? So sales are UP double digits over 2007 in both January, Feburary and March but they are also down 27% in March according to DataQuick? What is that, a 37%+ margin of difference?
So, either they are breaking it down in a “northern” Riverside county vs “southern” Riverside county, and the Northern part is taking it in the pants, or they are not counting condos in the first one but are in the second and they are the ones taking it in the pants. Or some fuzzy math is going on here.

Either that or I just dont get it.

[DWCAP]

Ok, I musta got confused cause this got crossed in my mind.

“Escrows closed on 522 homes in March, the largest number since August 2006, according to monthly totals from the region’s most widely used real estate listing service. The number rose by double digits from year-ago levels in January, and again in February and in March.”

From the same article, just farther down……..

“Separately, DataQuick Information Systems, a research firm, reported that 2,690 new and existing homes sold last month across Riverside County as a whole, down 27 percent from March 2007. The countywide median price, the point where half the homes sell for more and half sell for less, fell to $306,000 from $420,000, DataQuick reported.

WTF? So sales are UP double digits over 2007 in both January, Feburary and March but they are also down 27% in March according to DataQuick? What is that, a 37%+ margin of difference?
So, either they are breaking it down in a “northern” Riverside county vs “southern” Riverside county, and the Northern part is taking it in the pants, or they are not counting condos in the first one but are in the second and they are the ones taking it in the pants. Or some fuzzy math is going on here.

Either that or I just dont get it.

[DWCAP]

Ok, I musta got confused cause this got crossed in my mind.

“Escrows closed on 522 homes in March, the largest number since August 2006, according to monthly totals from the region’s most widely used real estate listing service. The number rose by double digits from year-ago levels in January, and again in February and in March.”

From the same article, just farther down……..

“Separately, DataQuick Information Systems, a research firm, reported that 2,690 new and existing homes sold last month across Riverside County as a whole, down 27 percent from March 2007. The countywide median price, the point where half the homes sell for more and half sell for less, fell to $306,000 from $420,000, DataQuick reported.

WTF? So sales are UP double digits over 2007 in both January, Feburary and March but they are also down 27% in March according to DataQuick? What is that, a 37%+ margin of difference?
So, either they are breaking it down in a “northern” Riverside county vs “southern” Riverside county, and the Northern part is taking it in the pants, or they are not counting condos in the first one but are in the second and they are the ones taking it in the pants. Or some fuzzy math is going on here.

Either that or I just dont get it.

[DWCAP]

Ok, I musta got confused cause this got crossed in my mind.

“Escrows closed on 522 homes in March, the largest number since August 2006, according to monthly totals from the region’s most widely used real estate listing service. The number rose by double digits from year-ago levels in January, and again in February and in March.”

From the same article, just farther down……..

“Separately, DataQuick Information Systems, a research firm, reported that 2,690 new and existing homes sold last month across Riverside County as a whole, down 27 percent from March 2007. The countywide median price, the point where half the homes sell for more and half sell for less, fell to $306,000 from $420,000, DataQuick reported.

WTF? So sales are UP double digits over 2007 in both January, Feburary and March but they are also down 27% in March according to DataQuick? What is that, a 37%+ margin of difference?
So, either they are breaking it down in a “northern” Riverside county vs “southern” Riverside county, and the Northern part is taking it in the pants, or they are not counting condos in the first one but are in the second and they are the ones taking it in the pants. Or some fuzzy math is going on here.

Either that or I just dont get it.

[Author]

Posts