Buying a Del Sur

[LostCat]

The problem is that savvy proffessionals don’t have time to understand the market. Just like they don’t understand or have time to vote on the right people in local offices or understand the impacts of sprawl like that of Del Sur on our quality of life.

[sdcellar]

sedwick19– I assume you’re being a little bit sarcastic unless you’re talking about the whole session with Chamberlain and the shills (whoops, I meant guys) from MarketPointe.

George was basically the warm up act, telling a few jokes and thereby reassuring the huddled masses (hey, it was a little chilly that morning) that there was nothing to be worried about here, move along. Well, that is, after you buy a house since “It’s always a great time to buy!” ™.

Things I learned:

• It’s warmer here in San Diego than most of the rest of the country
• There are 350-357 GPDs here (those are Golf Playable Days)
• Not really a foreclosure problem becuase only 10% of borrowers are in the excessive obligation category.
• Only 1 in 6 borrowers have ARMs, so again, no worries there
• Children of homeowners do better in school than children of renters
• Fortune magazine did a cover article on the housing bust in 2002. Ha ha, so everyone must still be wrong

Anyway, those are the highlights that I can remember, but you can see the whole thing for yourself right here.

[PerryChase]

I can’t believe that there are suckers in that price range.

Why would anyone waste their time on those seminar? Even corporate seminars/conferences are full of bull — nothing inspirational about them.

[sdcellar]

There are suckers at all price points.

Also, I know your comment wasn’t directed at me (or at least I don’t think it was), but I wasted my time there! Mostly, I enjoy hearing what those with opposing viewpoints have to say and I was *hoping* to possibly run into fellow Piggingtonians.

Sadly, I failed in the latter regard, mainly because I was reluctant to shout Bubble! in a crowded seminar tent…

[PerryChase]

sdcellar, I didn’t direct the comment at you. As a matter of fact, going to these events can be great entertainment so that’s probably why you attended. 🙂 I was picturing all of the attendees who come out of those seminars energized, positive, “born-again,” and of course ready to make a commitment by buying-in. Those seminars work otherwise they wouldn’t hold them.

I plan to take a tour of Downtown sponsored by the Center City Development Corp next month. I’m expecting a sales pitch for suckers but I figure that it’s better than driving around and looking at all the buildings on my own.

[sdcellar]

Yeah, I was actually hoping to see you there.

No doubt these things work. I think just the big white tent alone doesn’t come cheap–add in speaker engagement fees and free lattes, damn well better sell some houses.

The sad thing is for those who actually are attending to “get informed”, it’s probably the single worst decision many of them could make.

I like to think that at least a few really figured out some things though. Alan Nevin (one of the MarketPointe speakers) accidentally referred to housing prices as insane at one point. Hopefully, it registered at least subliminally with a few folks…

[lendingbubblecontinues]

Were the people in attendance all wearing their purple “away team” jumpsuits and Nikes?

Chamberlin, Nevin, and Valone must be the modern day equivalents of “Do” aka Marshall Applewhite.

[gn]

Bugs,

You mentioned Fairbanks Ranch being “nailed during the last downturn” (in your post on Feb. 22).

If you remember, can you please recount how agressively did the builders in Fairbank cut prices ? (I realize that it’s a long time ago)

Thanks.

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