Does anyone follow Mission/Fashion Valley condo sales?

[markmax33]

[quote=sdduuuude][quote=jameswenn]
At the end of the day, he’s a “realtor”.[/quote]

You know, jameswenn, this comment is so far out of line, I can’t believe how stupid it is.

If you have a reasonable financial/economic argument, make one. If not, shut up.[/quote]

His point is 100% valid. Real esate is the only industry you look to the sales person making $1000s in commision as an Economist. This should have been one of the biggest lessons learned from the housing bubble. I can’t believe educated consumers could fall for it again quite frankly.

[SD Realtor]

You can call out anyone you want. Thank you for making my point for me…That this is the most manipulated, corrupt, backstopped, jelly filled donut real estate market ever. Where asset values are propped up by valuations that make no sense.

Have I said otherwise? Please show me a post where I have implied otherwise… go on show me!

Also please do not confuse overhang and shadow inventory with active inventory on the market. How many years have we had significant shadow inventory? Did it just show up?

Please try to at least point out something that we have not all been commenting on here for the past 5 years okay?

You are on a real estate blog and you came here, it did not come to you. If it is something you don’t like then go somewhere else. You didn’t even come here for real estate, you came her to shill for a political candidate. Read what this blog was intended for. It was intended for real estate discussion, data, advice, etc…

The fact of the matter is that many people come here for real estate advice. Whether they get it from a licensee, a broker, or any other posters it is up to them to use it, ignore it, or do whatever they want with it. People post questions, ask for input, ask for opinions on homes, on sales that look odd… etc… The fact that you do not want it or need it is fine, and you can call out whoever you want to. So if it bugs you when realtors give advice on real estate here, why don’t you use the ignore user feature!

There are plenty, plenty of ways for buyers and sellers to save thousands in commissions. You want to project your frustrations with real estate professionals as you see no value in them but many other people have realized great value from them. The bottom line is that most agents are either idiots, incompetents, greedy, and/or dishonest. Comparing the peers I had from decades of work in electrical engineering to real estate agent peers is laughable. However the bottom line is that there are good agents out there, very good ones who add value to a transaction. The ones that post here are good, agents like Jim Klinge are good… Nobody is forcing you to use them.

Believe me, I know plenty more about the supply and overhang of San Diego real estate then you imply I do. You go ahead and keep believing it will all change. How you can actually post that some administration will come in and actually change that is laughable….

The bottom line is that it will not change until our credit is cut off.

Would you like to make a wager? How about if the market crashes for any other reason other then high interest rates due to our credit being cut off or we default or some other event that causes high interest rates then I will never post here again. However if that is not the case then you go away.

How does that sound?

Also look back and see the topics of threads where advice was given. Those threads are soliciting thoughts and opinions.

[scaredyclassic]

I have a question … Why are auto loan interest rates cheaper than mortgage rates? I see 2.5 perc at local credit union. Seems wrong; makes me want to buy a new car and maybe dumb for spending 2,000 over the last year to fix up my thrashed 89 Honda civic.

[sdrealtor]

SD R that is what the ignore button is for and it works. Some kid who has never owned real estate who reads a bunch of shit on the Internet but has never walked in our shoes or seen what we see calls himself an expert? Now that is someone who should be ignored not highly educated individuals who have chosen to work in the RE industry after successful careers in other industries. C’mon mark max call me out too. But before you do know that you are calling out someone with two masters degrees, a CPA certification, under graduate degrees in accounting and economics. Oh yeah, I also lectured at a major university in what???…..try macroeconomics. Also go back and read my predictions from five years how this would all play out and you will find my track record makes your beloved Ron Paul look like C student. You got a lot learn kid.

[markmax33]

[quote=sdrealtor]SD R that is what the ignore button is for and it works. Some kid who has never owned real estate who reads a bunch of shit on the Internet but has never walked in our shoes or seen what we see calls himself an expert? Now that is someone who should be ignored not highly educated individuals who have chosen to work in the RE industry after successful careers in other industries. C’mon mark max call me out too. But before you do know that you are calling out someone with two masters degrees, a CPA certification, under graduate degrees in accounting and economics. Oh yeah, I also lectured at a major university in what???…..try macroeconomics. Also go back and read my predictions from five years how this would all play out and you will find my track record makes your beloved Ron Paul look like C student. You got a lot learn kid.[/quote]

I’m sorry Real Estate is the only industry you go to the sales guy and ask him about market advice when he has skin in the game. If you are talking about market conditions in Mission Valley with a perspective client on the blog who probably hasn’t seen all of your posts for 5 years you should probably bring up the facts every time you do so. I’ll bet you that inflation adjusted prices with the old CPI are no more than level in mission valley in 5 years. You real estate professionals, well intentioned or not are part of the failed system. I can’t really blame you as it was market competition that drove you to do those things, but the market has not been corrected to fix the corruption and the industry has not been reformed. You call a guy out who was smart enough not to buy because he figured out the market was corrupt and saved his money for not owning anything? Kind of comical to me. I have as many degrees and certifications next to my name as you do, don’t worry. I don’t feel a need to list them all here to prove something. I have been informing my friends and family about the market for 8 years now as an independent observed and many that laughed at me in the beginning, beg for my advice now. I believe Ron Paul pointed out the housing bubble in 2003 or earlier, so your 2007 prediction is kind of silly to me. I’m not sure why that’s a point on this post. I saw it in 2003 as well before I ever knew about him.

[scaredyclassic]

whatever happened to the good old fashoned MRS degree

[sdrealtor]

Huh? Sales guys giving market advice with skin in the game is what every single sales guy in every single industry does. I called the bubble in 2003 also (actually in 2001) but I also let people know it still had plenty of room to go. I personally bought properties while the bubble was getting close to being full and flipped them for close to 6 figure profits right before it did knowing full well what was going on and about to happen. I had clients buy in late 2003 and sell 2 years later at my urging and walk away with a couple hundred thousand dollars of tax free profits that changed their lives.

If you were so smart you would have bought in 2003 and sold 2 or 3 years later but you fail to see that. Lots of people knew prices were bubblicious but few exploited it properly. You certainly werent one of them. Being smart and well educated is one thing. There are lots of smart people here and out there. The difference is having the life experience to know what to do with it and balls to do it. Both of which you are deficit in.

The system actually works rather well and even better today than ever before. Properties get listed and instantly are available for the world to see online. Resources exist online that buyers can easily see past sales and more detailed market information than in most industries. Any buyer can pull up closed sales from the past 3 months and know exactly what properties sold for with the exception of some relatively modest concessions on a percentage basis. Try getting anything close to that on a stock you want to purchase. Those financial statements are more manipulated than RE sales comps and far less timely. How about the labels on the food you eat? The cars you drive? The clothes you wear?

[Coronita]

[quote=walterwhite]I have a question … Why are auto loan interest rates cheaper than mortgage rates? I see 2.5 perc at local credit union. Seems wrong; makes me want to buy a new car and maybe dumb for spending 2,000 over the last year to fix up my thrashed 89 Honda civic.[/quote]

Um… you can get almost 0% on some models through factory financing.

[scaredyclassic]

but whys the bank so cheap? on anything?

[markmax33]

[quote=sdrealtor]Huh? Sales guys giving market advice with skin in the game is what every single sales guy in every single industry does. I called the bubble in 2003 also (actually in 2001) but I also let people know it still had plenty of room to go. I personally bought properties while the bubble was getting close to being full and flipped them for close to 6 figure profits right before it did knowing full well what was going on and about to happen. I had clients buy in late 2003 and sell 2 years later at my urging and walk away with a couple hundred thousand dollars of tax free profits that changed their lives.

If you were so smart you would have bought in 2003 and sold 2 or 3 years later but you fail to see that. Lots of people knew prices were bubblicious but few exploited it properly. You certainly werent one of them. Being smart and well educated is one thing. There are lots of smart people here and out there. The difference is having the life experience to know what to do with it and balls to do it. Both of which you are deficit in.

The system actually works rather well and even better today than ever before. Properties get listed and instantly are available for the world to see online. Resources exist online that buyers can easily see past sales and more detailed market information than in most industries. Any buyer can pull up closed sales from the past 3 months and know exactly what properties sold for with the exception of some relatively modest concessions on a percentage basis. Try getting anything close to that on a stock you want to purchase. Those financial statements are more manipulated than RE sales comps and far less timely. How about the labels on the food you eat? The cars you drive? The clothes you wear?[/quote]

No your comparisons are not the same. The housing market used to watch in awe for what David Lerrah would say about the housing market prediction for the next few years and every real estate agent would take it and say the RE market is going up 15% this year. CNBC actually had the audacity to make news out of it. The Real Estate industry does not have analysts like the stocks that come on air and make predictions. The car dealer does not tell me my car is going to appreciate and turn positive cash flow for me. He explains to me the features of the vehicle. That’s what Realtors should stick to as well. Any prediction about housing in areas shouldn’t come from people leveraged so heavily in that industry. It doesn’t happen in any other industry, especially such a highly inefficient, high transaction cost industry. Plenty of people don’t look to stock guys for a time to buy stocks and do their own research. Any intelligent economist will tell you it is impossible to time a market, just to point out trends and bubbles, although it is easier to time an inefficient market with high transactions costs I will admit. It’s like turning around a freight train in either direction. If you are respectable in your predictions you should look to all of the economists that called the bubble, not involved in RE and see what they are saying now.

[Coronita]

[quote=walterwhite]but whys the bank so cheap? on anything?[/quote]

Are you serious? Do you have a link. I was thinking credit union auto financing was around 5%.

Edit… Damnit you’re right.

https://www.aerofcu.org/Rates/Auo-Loans.aspx

New & Used Vehicles
100% Financing

36 Months 1.99%
48 Months 2.49%
60 Months 2.99%
72 Months 3.49%

Anyway, damnit. That sucks. I’ve always been adament about never financing a car because it’s a depreciating thing, and that would keep my wallet in check since I would only buy what I could afford outright…….should have done what every other american does and just buy now pay later…Ugggghhhh….

Where’s my refinance on my primary when I need it? 🙂

Come on 15 year below 3%…I know you can do it !!!!

http://aerofcu.mortgagewebcenter.com/Default.asp?bhcp=1

The irony to all this is that…People use to take out a HELOC to buy cars, because the HELOC rates were lower than car financing (at least at the time). Who needs to do a HELOC now these days to buy a car????

[Coronita]

So did we get a consensus here yet or not?

Should I refinance again?

🙂

[SD Realtor]

Your right sdr, the ignore button works great. I have taken advice from FLU and not bothered.

sdr could it be that

markmax = bg?

[scaredyclassic]

But doesn’t it seem odd that cars are cheaper to finance than houses?

Sdccu has a big sign everywhere here saying 2.5 perc for 72 m.

Might be cheaper to buy new than repair…

Not sure how sdccu can make money at 2.5 perc on cars

[Coronita]

[quote=walterwhite]But doesn’t it seem odd that cars are cheaper to finance than houses?

Sdccu has a big sign everywhere here saying 2.5 perc for 72 m.

Might be cheaper to buy new than repair…

Not sure how sdccu can make money at 2.5 perc on cars[/quote]

I don’t get how the banks make money on that either.

BTW: If you’re shelling out a lot on repairs, you really should get a new car. Keep in mind also if you happen to total the car, you won’t get nearly paid out in what put in for repairs. Spend $2k in repairs and some a*hole smacks into and totals your car, their insurance is probably only going to give you the value of your car, not how much you just spent in repairs on it.

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