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temeculaguy.
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June 9, 2007 at 10:30 AM #58129June 10, 2007 at 1:55 AM #58172
SD Realtor
Participanteccen in esc –
I have a listing in Ramona right now. It is a nice home but it has been SITTING. I cannot stress to you how slow it is in the outlying areas. I know Pine Valley is not anywhere near Valley Center but I had a listing there last year that also sat. The owner then went from me to Keller Williams. Again, no activity and the seller lost the home due to foreclosure. Finally last year I got a call from a client who has a very high end home in Valley Center. We met last year and she didn’t list because I recommended a price to her that was unacceptable. I called her back a few weeks back just to check in as she told me to call her about a year after we met, and sure enough she said they now could not afford to sell so they are going to just ride it out.
So the bottom line is… Unless you are prepared to sit for several years, I would stay away or at least hold off.
By the way, I to am 100% sick of renting AND wife is ready to scalp me….
SD Realtor
June 10, 2007 at 1:55 AM #58199Participanteccen in esc –
I have a listing in Ramona right now. It is a nice home but it has been SITTING. I cannot stress to you how slow it is in the outlying areas. I know Pine Valley is not anywhere near Valley Center but I had a listing there last year that also sat. The owner then went from me to Keller Williams. Again, no activity and the seller lost the home due to foreclosure. Finally last year I got a call from a client who has a very high end home in Valley Center. We met last year and she didn’t list because I recommended a price to her that was unacceptable. I called her back a few weeks back just to check in as she told me to call her about a year after we met, and sure enough she said they now could not afford to sell so they are going to just ride it out.
So the bottom line is… Unless you are prepared to sit for several years, I would stay away or at least hold off.
By the way, I to am 100% sick of renting AND wife is ready to scalp me….
SD Realtor
June 10, 2007 at 7:59 AM #58176eccen in esc
Participanteccen in esc
SD Realtor, thanks for the helpful advise. I know how right you are. Everytime I scour the listings on Zip they are all still there months and months later with days on market very high. They only thing is the prices are still sky high. Why don’t they lower? Zip also sends me a new listing almost every day, yet very few houses sold in VC last month. I find with renting I am treated like a second class citizen when I am practically a senior citizen. Your post has been helpful, like everyone here always is. I am so glad I found Piggintons. If only I would follow their advice.
June 10, 2007 at 7:59 AM #58203Participanteccen in esc
SD Realtor, thanks for the helpful advise. I know how right you are. Everytime I scour the listings on Zip they are all still there months and months later with days on market very high. They only thing is the prices are still sky high. Why don’t they lower? Zip also sends me a new listing almost every day, yet very few houses sold in VC last month. I find with renting I am treated like a second class citizen when I am practically a senior citizen. Your post has been helpful, like everyone here always is. I am so glad I found Piggintons. If only I would follow their advice.
June 10, 2007 at 9:11 AM #58104NotCranky
ParticipantYour’e welcome eccen.
Related to encouragement to wait. It seems like there are various ideologies regarding the “bubble correction” expressed on this blog. Some people seem to assume the correction will follow all historical economic norms. Some believe times are different now and there won’t be much of a correction at all. And some INSIST that a bust in the range of 50%-60% is also a sure thing.
I don’t see a problem with holding any of those opinions or even more extreme views.
What I wonder about is the lack of a commitment to “wait and see attitude” on the part of some posters/buyers.
We are almost all sure that the gears are slipping and equity and down payments will dissappear.From there the real deal to come is unpredictable. I think we might take that too lightly! The nature of what is happening doesn’t fortell stability in the slightest. Why not wait until the nature of what is happening shows a glimmer of hope for stability at least? How many people believed property could go up 200%,300% and even more in some cases, in a matter of less than a decade? How can we rule out something like only in reverse.I am sure the tone and content on this blog will be very different when it is a good time to buy or at least when the signs show that it is safer to enter the water,so to speak. I don’t think that topic will only last a nano second. We will probably be at it for months. Real estate is easy to time historically speaking, and compared to other market priced assets.The cost is poor liquidity.If you are liquid now it seems a bad time to pay that cost. IMHOJune 10, 2007 at 9:11 AM #58131ParticipantYour’e welcome eccen.
Related to encouragement to wait. It seems like there are various ideologies regarding the “bubble correction” expressed on this blog. Some people seem to assume the correction will follow all historical economic norms. Some believe times are different now and there won’t be much of a correction at all. And some INSIST that a bust in the range of 50%-60% is also a sure thing.
I don’t see a problem with holding any of those opinions or even more extreme views.
What I wonder about is the lack of a commitment to “wait and see attitude” on the part of some posters/buyers.
We are almost all sure that the gears are slipping and equity and down payments will dissappear.From there the real deal to come is unpredictable. I think we might take that too lightly! The nature of what is happening doesn’t fortell stability in the slightest. Why not wait until the nature of what is happening shows a glimmer of hope for stability at least? How many people believed property could go up 200%,300% and even more in some cases, in a matter of less than a decade? How can we rule out something like only in reverse.I am sure the tone and content on this blog will be very different when it is a good time to buy or at least when the signs show that it is safer to enter the water,so to speak. I don’t think that topic will only last a nano second. We will probably be at it for months. Real estate is easy to time historically speaking, and compared to other market priced assets.The cost is poor liquidity.If you are liquid now it seems a bad time to pay that cost. IMHOJune 10, 2007 at 9:22 AM #58184Bugs
ParticipantThere are people who “lost” money they could have garnered had they stuck with their homes longer while the market was going up. Some of them express regret at not being patient enough to hold off on their decision to sell, although that is frequently tempered with the “bird-in-hand” argument.
There will also be people who will “lose” money as a result of buying during what they recognize is a falling market.
From a financial perspective the difference between the two groups of losers is that the former’s losses are widely viewed as consisting of unrealized profits, whereas the latter group’s losses are in the form of hard earned cash.
Patience and commitment has a reward if you can identify the trend; the trick is to exercise that patience and commitment.
June 10, 2007 at 9:22 AM #58211ParticipantThere are people who “lost” money they could have garnered had they stuck with their homes longer while the market was going up. Some of them express regret at not being patient enough to hold off on their decision to sell, although that is frequently tempered with the “bird-in-hand” argument.
There will also be people who will “lose” money as a result of buying during what they recognize is a falling market.
From a financial perspective the difference between the two groups of losers is that the former’s losses are widely viewed as consisting of unrealized profits, whereas the latter group’s losses are in the form of hard earned cash.
Patience and commitment has a reward if you can identify the trend; the trick is to exercise that patience and commitment.
June 10, 2007 at 9:34 AM #58188ParticipantBugs,
The Realtors will be buying my drinks at the next meet up. I’ll be bringing you Meatballs from your favorite source of said delicacies.
June 10, 2007 at 9:34 AM #58215ParticipantBugs,
The Realtors will be buying my drinks at the next meet up. I’ll be bringing you Meatballs from your favorite source of said delicacies.
June 10, 2007 at 9:51 AM #58190what_a_disasta
Participant“I find with renting I am treated like a second class citizen”
eccen,
Can you elaborate? What kind of person is actually treating you differently?I have never been treated any differently as an owner or a renter.
June 10, 2007 at 9:51 AM #58217Participant“I find with renting I am treated like a second class citizen”
eccen,
Can you elaborate? What kind of person is actually treating you differently?I have never been treated any differently as an owner or a renter.
June 10, 2007 at 10:08 AM #58196Participantdisasta –
As a renter with pets and kids, it is always a stressful time when the landlord comes over. Anyone with an infant turning to a toddler knows that a child this age works over a home to say the least. There are splorch spots all over the rug… we try to take care of them as fast as possible but it is impossible. Of course we will get the run professionally cleaned when we leave but still. As clean as we try to keep the house, again, our kids are like 1 and 2 so invariably it looks like somewhat of a tornado…We take good care of the lawn but we have large dogs and they are female… anyone with large female dogs knows that they will spot up a lawn no matter what…One digs a little bit as well… It is just little things like this that landlords don’t like to see.
So I know what eccen is saying. Now being a landlord I understand as well… I go over to my tenants in Talmadge, they are a couple of men who have been together for many years and rented out my place 2 years ago. No kids, no pets… to say they keep the place impecable is an understatement. Now I go to my place in Crown Point, young couple with a baby and two dogs… I CRINGE everytime I go there.
I don’t know if I would call it second class citizenship but I do know what eccen means. Also having 3 landlords in the past 3 years has been quite a chore.
For some people it is much easier to rent then for others.
SD Realtor
June 10, 2007 at 10:08 AM #58223Participantdisasta –
As a renter with pets and kids, it is always a stressful time when the landlord comes over. Anyone with an infant turning to a toddler knows that a child this age works over a home to say the least. There are splorch spots all over the rug… we try to take care of them as fast as possible but it is impossible. Of course we will get the run professionally cleaned when we leave but still. As clean as we try to keep the house, again, our kids are like 1 and 2 so invariably it looks like somewhat of a tornado…We take good care of the lawn but we have large dogs and they are female… anyone with large female dogs knows that they will spot up a lawn no matter what…One digs a little bit as well… It is just little things like this that landlords don’t like to see.
So I know what eccen is saying. Now being a landlord I understand as well… I go over to my tenants in Talmadge, they are a couple of men who have been together for many years and rented out my place 2 years ago. No kids, no pets… to say they keep the place impecable is an understatement. Now I go to my place in Crown Point, young couple with a baby and two dogs… I CRINGE everytime I go there.
I don’t know if I would call it second class citizenship but I do know what eccen means. Also having 3 landlords in the past 3 years has been quite a chore.
For some people it is much easier to rent then for others.
SD Realtor
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