The interesting thing is , there are starting to be New Homes and Condo’s priced less than the Foreclosures on the market in some area’s (not SD as much just yet but in SCV and some riverside area’s).
But people still hear the word foreclosure and think they are getting a steal or something (interesting).
It will take awhile before the housing Mania subsides.
Seems the Builders are leading the price decline, I guess you got to Move inventory to EAT,
The interesting thing is , there are starting to be New Homes and Condo’s priced less than the Foreclosures on the market in some area’s (not SD as much just yet but in SCV and some riverside area’s).
But people still hear the word foreclosure and think they are getting a steal or something (interesting).
It will take awhile before the housing Mania subsides.
Seems the Builders are leading the price decline, I guess you got to Move inventory to EAT,
How much is a typical price cut on a foreclosure? Prices are still off-line with reality. Where are the foreclosure buyers going to get financing…when subprime dries up? Maybe banks will start lending to anyone again…to finance a foreclosure buying boom?
How much is a typical price cut on a foreclosure? Prices are still off-line with reality. Where are the foreclosure buyers going to get financing…when subprime dries up? Maybe banks will start lending to anyone again…to finance a foreclosure buying boom?
wonder if that is SFR/condos/and land parcels vs. U-T’s number
Either way, it likely doesn’t matter. It’s close enough to 20% of the monthly sales volume to be a mute point. That’s too much volume for the banks to hold and it’s too much volume for the market to stabalize around.
wonder if that is SFR/condos/and land parcels vs. U-T’s number
Either way, it likely doesn’t matter. It’s close enough to 20% of the monthly sales volume to be a mute point. That’s too much volume for the banks to hold and it’s too much volume for the market to stabalize around.
“How much is a typical price cut on a foreclosure? Prices are still off-line with reality.”
I am not sure, but I called on one and it normally would list @ 460-470k. They told me they had 6 offers and mine would have to be at least over 400k(listed @ 409k). That the place had a “repaired cracked slab” and 25k in additional work needed. So my guess is, not much,at least until there are enough sales from them(foreclosures) to drive the market prices down.
“How much is a typical price cut on a foreclosure? Prices are still off-line with reality.”
I am not sure, but I called on one and it normally would list @ 460-470k. They told me they had 6 offers and mine would have to be at least over 400k(listed @ 409k). That the place had a “repaired cracked slab” and 25k in additional work needed. So my guess is, not much,at least until there are enough sales from them(foreclosures) to drive the market prices down.
“Must Eat” thanks that got me laughing.
I hear rumors that that some forclosures have large chunks of drywall missing. It seems the owners were eating it!
“Must Eat” thanks that got me laughing.
I hear rumors that that some forclosures have large chunks of drywall missing. It seems the owners were eating it!
