Christmas Lane neighborhood (PQ)

[SD Realtor]

Hi Scarlett

I have been in this listing. I forgot how many offers on it because I called recently but it was pretty active. I do not have anything groundbreaking to say as the previous posters have already covered it. PQ is and always will be a destination for many people as a cheaper yet pretty much quality alternative to 4S and Carmel Valley. Indeed the bounce in PQ in my mind has been stronger then the bounce in 4S and CV for this year so far.

The bottom line is that if you are going to buy now then you WILL overpay if there is anything redeeming about the home. It is simply a matter of crappy supply and this IS A MANIPULATED MARKET. I do not believe the market will up and run away on you so if you can wait then wait. Don’t sweat the 8k tax credit as I will be willing to bet you that there will be another incentive on the heels of this one expiring.

If you think PQ is going to do an abrupt 180 and plung back down to where it was 6 months ago then wait. I do not think it will but everyone has thier own opinion. I think that down the road if there are interest rate disruptions then yes PQ can head south but that will be at the cost of a higher rate. If you have large cash reserves you are in the catbirds seat.

You need to measure out what is right for you in terms of having the home verses waiting for the bottom.

[Scarlett]

[quote=weberlin]
You asked about predictions for the bottom of the PQ market. Have you considered the shape of the curve at the bottom? Even if you find your perfect house at the ‘bottom’ of the market, how much have you saved?

My advice: It’s going to be a buyer’s market for a while. I can tell you really like the home, but I don’t think your should feel pressured to buy because of the artificially ‘hot’ market. Remember 8K is 1.6% of 500K, so I doubt the tax credit is a serious factor.[/quote]

I believe you mean, it is a seller’s market in PQ? Because of the scarcity of inventory, buyers are competing for the few good ones that appear, and this house has already couple offers. I am not aiming to buy at the very bottom, but sure as hell I don’t want to buy if there would be another significant leg down (>10%). There is some point where the raise in rates will compensate drop in price.

Are you implying that most of the price drop has already occured in PQ and it probably will stay relatively flat or very slow decline? I don’t qualify for tax credit anyway.
2010 (or 2011 or 2012 or whenever) could prove to be an interesting year if the government stops messing with the housing market, banks dump foreclosures on the market and rates rise. That’s what I am afraid of.

[Scarlett]

[quote=weberlin]
You asked about predictions for the bottom of the PQ market. Have you considered the shape of the curve at the bottom? Even if you find your perfect house at the ‘bottom’ of the market, how much have you saved?

My advice: It’s going to be a buyer’s market for a while. I can tell you really like the home, but I don’t think your should feel pressured to buy because of the artificially ‘hot’ market. Remember 8K is 1.6% of 500K, so I doubt the tax credit is a serious factor.[/quote]

I believe you mean, it is a seller’s market in PQ? Because of the scarcity of inventory, buyers are competing for the few good ones that appear, and this house has already couple offers. I am not aiming to buy at the very bottom, but sure as hell I don’t want to buy if there would be another significant leg down (>10%). There is some point where the raise in rates will compensate drop in price.

Are you implying that most of the price drop has already occured in PQ and it probably will stay relatively flat or very slow decline? I don’t qualify for tax credit anyway.
2010 (or 2011 or 2012 or whenever) could prove to be an interesting year if the government stops messing with the housing market, banks dump foreclosures on the market and rates rise. That’s what I am afraid of.

[Scarlett]

[quote=weberlin]
You asked about predictions for the bottom of the PQ market. Have you considered the shape of the curve at the bottom? Even if you find your perfect house at the ‘bottom’ of the market, how much have you saved?

My advice: It’s going to be a buyer’s market for a while. I can tell you really like the home, but I don’t think your should feel pressured to buy because of the artificially ‘hot’ market. Remember 8K is 1.6% of 500K, so I doubt the tax credit is a serious factor.[/quote]

I believe you mean, it is a seller’s market in PQ? Because of the scarcity of inventory, buyers are competing for the few good ones that appear, and this house has already couple offers. I am not aiming to buy at the very bottom, but sure as hell I don’t want to buy if there would be another significant leg down (>10%). There is some point where the raise in rates will compensate drop in price.

Are you implying that most of the price drop has already occured in PQ and it probably will stay relatively flat or very slow decline? I don’t qualify for tax credit anyway.
2010 (or 2011 or 2012 or whenever) could prove to be an interesting year if the government stops messing with the housing market, banks dump foreclosures on the market and rates rise. That’s what I am afraid of.

[Scarlett]

[quote=weberlin]
You asked about predictions for the bottom of the PQ market. Have you considered the shape of the curve at the bottom? Even if you find your perfect house at the ‘bottom’ of the market, how much have you saved?

My advice: It’s going to be a buyer’s market for a while. I can tell you really like the home, but I don’t think your should feel pressured to buy because of the artificially ‘hot’ market. Remember 8K is 1.6% of 500K, so I doubt the tax credit is a serious factor.[/quote]

I believe you mean, it is a seller’s market in PQ? Because of the scarcity of inventory, buyers are competing for the few good ones that appear, and this house has already couple offers. I am not aiming to buy at the very bottom, but sure as hell I don’t want to buy if there would be another significant leg down (>10%). There is some point where the raise in rates will compensate drop in price.

Are you implying that most of the price drop has already occured in PQ and it probably will stay relatively flat or very slow decline? I don’t qualify for tax credit anyway.
2010 (or 2011 or 2012 or whenever) could prove to be an interesting year if the government stops messing with the housing market, banks dump foreclosures on the market and rates rise. That’s what I am afraid of.

[Scarlett]

[quote=weberlin]
You asked about predictions for the bottom of the PQ market. Have you considered the shape of the curve at the bottom? Even if you find your perfect house at the ‘bottom’ of the market, how much have you saved?

My advice: It’s going to be a buyer’s market for a while. I can tell you really like the home, but I don’t think your should feel pressured to buy because of the artificially ‘hot’ market. Remember 8K is 1.6% of 500K, so I doubt the tax credit is a serious factor.[/quote]

I believe you mean, it is a seller’s market in PQ? Because of the scarcity of inventory, buyers are competing for the few good ones that appear, and this house has already couple offers. I am not aiming to buy at the very bottom, but sure as hell I don’t want to buy if there would be another significant leg down (>10%). There is some point where the raise in rates will compensate drop in price.

Are you implying that most of the price drop has already occured in PQ and it probably will stay relatively flat or very slow decline? I don’t qualify for tax credit anyway.
2010 (or 2011 or 2012 or whenever) could prove to be an interesting year if the government stops messing with the housing market, banks dump foreclosures on the market and rates rise. That’s what I am afraid of.

[Scarlett]

Thank you SD R and weberlin!
I think I’ll wait another 6-12 months. No, I don’t think the prices are going to go up significantly either. I’ll keep my eyes open though and if by accident I see a house I really really like and seem like a good deal, I’ll (try to) buy it. No, I don’t have that large cash reserves, I’ll probably go less than 20% down if I can.

Regarding the comparison of PQ to CV and 4S – the stuff in PQ IS generally older – that is the drawback. Initially I didn’t want to consider houses that were built in late 70s, early 80s. But some of the houses in PQ of that age can be pretty nice if the owner has kept it up with replacements and repairs.

[Scarlett]

Thank you SD R and weberlin!
I think I’ll wait another 6-12 months. No, I don’t think the prices are going to go up significantly either. I’ll keep my eyes open though and if by accident I see a house I really really like and seem like a good deal, I’ll (try to) buy it. No, I don’t have that large cash reserves, I’ll probably go less than 20% down if I can.

Regarding the comparison of PQ to CV and 4S – the stuff in PQ IS generally older – that is the drawback. Initially I didn’t want to consider houses that were built in late 70s, early 80s. But some of the houses in PQ of that age can be pretty nice if the owner has kept it up with replacements and repairs.

[Scarlett]

Thank you SD R and weberlin!
I think I’ll wait another 6-12 months. No, I don’t think the prices are going to go up significantly either. I’ll keep my eyes open though and if by accident I see a house I really really like and seem like a good deal, I’ll (try to) buy it. No, I don’t have that large cash reserves, I’ll probably go less than 20% down if I can.

Regarding the comparison of PQ to CV and 4S – the stuff in PQ IS generally older – that is the drawback. Initially I didn’t want to consider houses that were built in late 70s, early 80s. But some of the houses in PQ of that age can be pretty nice if the owner has kept it up with replacements and repairs.

[Scarlett]

Thank you SD R and weberlin!
I think I’ll wait another 6-12 months. No, I don’t think the prices are going to go up significantly either. I’ll keep my eyes open though and if by accident I see a house I really really like and seem like a good deal, I’ll (try to) buy it. No, I don’t have that large cash reserves, I’ll probably go less than 20% down if I can.

Regarding the comparison of PQ to CV and 4S – the stuff in PQ IS generally older – that is the drawback. Initially I didn’t want to consider houses that were built in late 70s, early 80s. But some of the houses in PQ of that age can be pretty nice if the owner has kept it up with replacements and repairs.

[Scarlett]

Thank you SD R and weberlin!
I think I’ll wait another 6-12 months. No, I don’t think the prices are going to go up significantly either. I’ll keep my eyes open though and if by accident I see a house I really really like and seem like a good deal, I’ll (try to) buy it. No, I don’t have that large cash reserves, I’ll probably go less than 20% down if I can.

Regarding the comparison of PQ to CV and 4S – the stuff in PQ IS generally older – that is the drawback. Initially I didn’t want to consider houses that were built in late 70s, early 80s. But some of the houses in PQ of that age can be pretty nice if the owner has kept it up with replacements and repairs.

[Eugene]

It’s December 4th, three full weeks till Christmas, and the whole neighborhood is already lit up like … you know … the Christmas tree. Including Oviedo, Ellingham, and cross streets. Whoever said “it’s just two weeks” was wrong. It’s more like a month.

[Eugene]

It’s December 4th, three full weeks till Christmas, and the whole neighborhood is already lit up like … you know … the Christmas tree. Including Oviedo, Ellingham, and cross streets. Whoever said “it’s just two weeks” was wrong. It’s more like a month.

[Eugene]

It’s December 4th, three full weeks till Christmas, and the whole neighborhood is already lit up like … you know … the Christmas tree. Including Oviedo, Ellingham, and cross streets. Whoever said “it’s just two weeks” was wrong. It’s more like a month.

[Eugene]

It’s December 4th, three full weeks till Christmas, and the whole neighborhood is already lit up like … you know … the Christmas tree. Including Oviedo, Ellingham, and cross streets. Whoever said “it’s just two weeks” was wrong. It’s more like a month.

[Author]

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