Business data point in Temecula

[Coronita]

[quote=Rt.66][quote=sdrealtor]I have follwed RealtyTrac and their data for years. I would have stepped up and said it but as usual TG said it better than I ever could. Here goes anyway.

I am an expert and RealtyTrac blows![/quote]

Please elaborate. Do they blow because they report a huge foreclosure inventory that you say is not really there? [/quote]

Scarlet,

I would recommend you take the time to sort of listen what folks here longer have learned and comment on some folks here have been here a long time, and the common observation about realtytrac is that the data provided has far from accurate. In my area, plenty of things have been listed in various default statii, and upon actually investigating, a good portion of the entries were completely inaccurate, particularly SFH. There’s listings for properties that don’t even exist, or aren’t even part of the area.

One of the issues with all this “information” available to most everyone now is that you really need to figure out what’s its good for or not. Seems like you probably have already made up your own opinion on where you like things be at, and I’m sure there is probably selective data that can be pulled that supports your opinion. Well, to each and everyone’s own. Again, I good luck on finding that 50%+ deal you want.

[sdrealtor]

My pom pom’s are Chartreuse just like my beautiful eyes. Thanx for asking…………….

[sdrealtor]

My pom pom’s are Chartreuse just like my beautiful eyes. Thanx for asking…………….

[sdrealtor]

My pom pom’s are Chartreuse just like my beautiful eyes. Thanx for asking…………….

[sdrealtor]

My pom pom’s are Chartreuse just like my beautiful eyes. Thanx for asking…………….

[sdrealtor]

My pom pom’s are Chartreuse just like my beautiful eyes. Thanx for asking…………….

[Bob]

While this debate about RealtyTrac is interesting, its also irrelevant, as we don’t need RealtyTrac to know there are still thousands and thousands of potential foreclosures in the pipeline. Why ? Because the banks, the state of California, and the Federal reserve have said so. The reason they’ve initiated numerous programs into place, including the recent moratoriums, is because they KNOW there are millions of bad loans still out there.

Basically, the feds are throwing all their power into the market in the hopes of reducing a massive deflationary cycle. Whether you or I agree with such federal intervention, the fact is, since last December the combination of loan modifications, moratoriums, and the Feds actions to reduce interest rates have done exactly what they wanted – which was to reduce supply and create an environment where buyers would reenter the market in the short term. But they know that unless the majority of bad loans are modified, there will be a continuation of foreclosures throughout 2009-2010, although at slower pace than what we saw in 2007-2008.

One tool the Obama administration wanted to use that would have put a huge dent in the foreclosure crisis is the bankruptcy modification program. (Basically, a judge would have the power to rewrite a loan and keep the homeowner in their property) At it stands, the republicans are filibustering that legislation, which means foreclosures will continue.

Bottom line – for all of you who enjoy discussing when the bottom will hit, remember one thing. For the past four months, the real estate market has been manipulated by the Feds to create sales activity with the goal of stopping the deflationary cycle. To get a better idea of when the true bottom will hit, one needs to know how many additional moratoriums will be put in place, and how much longer the Feds will keep interest rates artificially low ? If the Feds continue indefinately with the current policies, then we could see an “artificial”bottom sometime this year. But if the moratoriums end, and interest rates go back to more normal levels, all sectors of the market will experience downward price pressures, particularly factoring in high unemployment numbers.

[Bob]

While this debate about RealtyTrac is interesting, its also irrelevant, as we don’t need RealtyTrac to know there are still thousands and thousands of potential foreclosures in the pipeline. Why ? Because the banks, the state of California, and the Federal reserve have said so. The reason they’ve initiated numerous programs into place, including the recent moratoriums, is because they KNOW there are millions of bad loans still out there.

Basically, the feds are throwing all their power into the market in the hopes of reducing a massive deflationary cycle. Whether you or I agree with such federal intervention, the fact is, since last December the combination of loan modifications, moratoriums, and the Feds actions to reduce interest rates have done exactly what they wanted – which was to reduce supply and create an environment where buyers would reenter the market in the short term. But they know that unless the majority of bad loans are modified, there will be a continuation of foreclosures throughout 2009-2010, although at slower pace than what we saw in 2007-2008.

One tool the Obama administration wanted to use that would have put a huge dent in the foreclosure crisis is the bankruptcy modification program. (Basically, a judge would have the power to rewrite a loan and keep the homeowner in their property) At it stands, the republicans are filibustering that legislation, which means foreclosures will continue.

Bottom line – for all of you who enjoy discussing when the bottom will hit, remember one thing. For the past four months, the real estate market has been manipulated by the Feds to create sales activity with the goal of stopping the deflationary cycle. To get a better idea of when the true bottom will hit, one needs to know how many additional moratoriums will be put in place, and how much longer the Feds will keep interest rates artificially low ? If the Feds continue indefinately with the current policies, then we could see an “artificial”bottom sometime this year. But if the moratoriums end, and interest rates go back to more normal levels, all sectors of the market will experience downward price pressures, particularly factoring in high unemployment numbers.

[Bob]

While this debate about RealtyTrac is interesting, its also irrelevant, as we don’t need RealtyTrac to know there are still thousands and thousands of potential foreclosures in the pipeline. Why ? Because the banks, the state of California, and the Federal reserve have said so. The reason they’ve initiated numerous programs into place, including the recent moratoriums, is because they KNOW there are millions of bad loans still out there.

Basically, the feds are throwing all their power into the market in the hopes of reducing a massive deflationary cycle. Whether you or I agree with such federal intervention, the fact is, since last December the combination of loan modifications, moratoriums, and the Feds actions to reduce interest rates have done exactly what they wanted – which was to reduce supply and create an environment where buyers would reenter the market in the short term. But they know that unless the majority of bad loans are modified, there will be a continuation of foreclosures throughout 2009-2010, although at slower pace than what we saw in 2007-2008.

One tool the Obama administration wanted to use that would have put a huge dent in the foreclosure crisis is the bankruptcy modification program. (Basically, a judge would have the power to rewrite a loan and keep the homeowner in their property) At it stands, the republicans are filibustering that legislation, which means foreclosures will continue.

Bottom line – for all of you who enjoy discussing when the bottom will hit, remember one thing. For the past four months, the real estate market has been manipulated by the Feds to create sales activity with the goal of stopping the deflationary cycle. To get a better idea of when the true bottom will hit, one needs to know how many additional moratoriums will be put in place, and how much longer the Feds will keep interest rates artificially low ? If the Feds continue indefinately with the current policies, then we could see an “artificial”bottom sometime this year. But if the moratoriums end, and interest rates go back to more normal levels, all sectors of the market will experience downward price pressures, particularly factoring in high unemployment numbers.

[Bob]

While this debate about RealtyTrac is interesting, its also irrelevant, as we don’t need RealtyTrac to know there are still thousands and thousands of potential foreclosures in the pipeline. Why ? Because the banks, the state of California, and the Federal reserve have said so. The reason they’ve initiated numerous programs into place, including the recent moratoriums, is because they KNOW there are millions of bad loans still out there.

Basically, the feds are throwing all their power into the market in the hopes of reducing a massive deflationary cycle. Whether you or I agree with such federal intervention, the fact is, since last December the combination of loan modifications, moratoriums, and the Feds actions to reduce interest rates have done exactly what they wanted – which was to reduce supply and create an environment where buyers would reenter the market in the short term. But they know that unless the majority of bad loans are modified, there will be a continuation of foreclosures throughout 2009-2010, although at slower pace than what we saw in 2007-2008.

One tool the Obama administration wanted to use that would have put a huge dent in the foreclosure crisis is the bankruptcy modification program. (Basically, a judge would have the power to rewrite a loan and keep the homeowner in their property) At it stands, the republicans are filibustering that legislation, which means foreclosures will continue.

Bottom line – for all of you who enjoy discussing when the bottom will hit, remember one thing. For the past four months, the real estate market has been manipulated by the Feds to create sales activity with the goal of stopping the deflationary cycle. To get a better idea of when the true bottom will hit, one needs to know how many additional moratoriums will be put in place, and how much longer the Feds will keep interest rates artificially low ? If the Feds continue indefinately with the current policies, then we could see an “artificial”bottom sometime this year. But if the moratoriums end, and interest rates go back to more normal levels, all sectors of the market will experience downward price pressures, particularly factoring in high unemployment numbers.

[Bob]

While this debate about RealtyTrac is interesting, its also irrelevant, as we don’t need RealtyTrac to know there are still thousands and thousands of potential foreclosures in the pipeline. Why ? Because the banks, the state of California, and the Federal reserve have said so. The reason they’ve initiated numerous programs into place, including the recent moratoriums, is because they KNOW there are millions of bad loans still out there.

Basically, the feds are throwing all their power into the market in the hopes of reducing a massive deflationary cycle. Whether you or I agree with such federal intervention, the fact is, since last December the combination of loan modifications, moratoriums, and the Feds actions to reduce interest rates have done exactly what they wanted – which was to reduce supply and create an environment where buyers would reenter the market in the short term. But they know that unless the majority of bad loans are modified, there will be a continuation of foreclosures throughout 2009-2010, although at slower pace than what we saw in 2007-2008.

One tool the Obama administration wanted to use that would have put a huge dent in the foreclosure crisis is the bankruptcy modification program. (Basically, a judge would have the power to rewrite a loan and keep the homeowner in their property) At it stands, the republicans are filibustering that legislation, which means foreclosures will continue.

Bottom line – for all of you who enjoy discussing when the bottom will hit, remember one thing. For the past four months, the real estate market has been manipulated by the Feds to create sales activity with the goal of stopping the deflationary cycle. To get a better idea of when the true bottom will hit, one needs to know how many additional moratoriums will be put in place, and how much longer the Feds will keep interest rates artificially low ? If the Feds continue indefinately with the current policies, then we could see an “artificial”bottom sometime this year. But if the moratoriums end, and interest rates go back to more normal levels, all sectors of the market will experience downward price pressures, particularly factoring in high unemployment numbers.

[eclipxe]

Two homes up my street just sold for >$100 sqft. Similar sq footage as mine. I got in at around $95 psqf.

I’ll call a bottom along with TemeculaGuy.

Foreclosures in the pipeline, realtytrac issues, unemployment, etc etc etc. You balance the negative with unprecedented government intervention and a median home price in line with actual incomes and rental parity across the majority of properties.

Just as you have delusional kool-aid drinkers on the way up, you have delusional bottom-feeders on the way down. I like to stay fairly neutral and look at what is really happening.

The crash started here earlier and it makes sense that stabilization and bottoming will occur here earlier. Just because *your* market hasn’t bottomed doesn’t mean the story is the same everywhere.

But what do I know…

[eclipxe]

Two homes up my street just sold for >$100 sqft. Similar sq footage as mine. I got in at around $95 psqf.

I’ll call a bottom along with TemeculaGuy.

Foreclosures in the pipeline, realtytrac issues, unemployment, etc etc etc. You balance the negative with unprecedented government intervention and a median home price in line with actual incomes and rental parity across the majority of properties.

Just as you have delusional kool-aid drinkers on the way up, you have delusional bottom-feeders on the way down. I like to stay fairly neutral and look at what is really happening.

The crash started here earlier and it makes sense that stabilization and bottoming will occur here earlier. Just because *your* market hasn’t bottomed doesn’t mean the story is the same everywhere.

But what do I know…

[eclipxe]

Two homes up my street just sold for >$100 sqft. Similar sq footage as mine. I got in at around $95 psqf.

I’ll call a bottom along with TemeculaGuy.

Foreclosures in the pipeline, realtytrac issues, unemployment, etc etc etc. You balance the negative with unprecedented government intervention and a median home price in line with actual incomes and rental parity across the majority of properties.

Just as you have delusional kool-aid drinkers on the way up, you have delusional bottom-feeders on the way down. I like to stay fairly neutral and look at what is really happening.

The crash started here earlier and it makes sense that stabilization and bottoming will occur here earlier. Just because *your* market hasn’t bottomed doesn’t mean the story is the same everywhere.

But what do I know…

[eclipxe]

Two homes up my street just sold for >$100 sqft. Similar sq footage as mine. I got in at around $95 psqf.

I’ll call a bottom along with TemeculaGuy.

Foreclosures in the pipeline, realtytrac issues, unemployment, etc etc etc. You balance the negative with unprecedented government intervention and a median home price in line with actual incomes and rental parity across the majority of properties.

Just as you have delusional kool-aid drinkers on the way up, you have delusional bottom-feeders on the way down. I like to stay fairly neutral and look at what is really happening.

The crash started here earlier and it makes sense that stabilization and bottoming will occur here earlier. Just because *your* market hasn’t bottomed doesn’t mean the story is the same everywhere.

But what do I know…

[Author]

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