Giving in

[Anonymous]

[quote=masayako]Dead zone,
You are posting opinions, but with no facts. So, in short, I can’t really comment on anything you said. Your assumption has no base..

Long time Pigg here. I also bought. A house and a condo? More drop coming? Great, I can buy one more condo. I am buying it undervalued.[/quote]

My opinion is not entirely baseless. Again, can you comment on the fact that May 2011 home sales are 27% off the historical average, even while interest rates are at all time lows? Is that an opinion or a fact? How you choose to interpret facts like this are up to you. If you want to belive the realtor crowd they will tell you this is nothing to worry about. But what do you believe?

[Anonymous]

[quote=sdrealtor][quote=deadzone][quote=AN][quote=deadzone]But with a limited pool of organic buyers I don’t see home prices remaining afloat for much longer.[/quote]
Where did you get this information from?[/quote]

Well given that San Diego home sales in May 2011 were 27% below the historical volume for May (according to UT) even though interest rates are at all time lows and as Rich points out home prices are genrally reasonable now (not overpriced nor cheap). This leads me to deduce that there just may be a shortage of organic buyers.[/quote]

Or it could be a lack of saleable inventory which is the far bigger culprit.[/quote]

Maybe, but then you must ask yourself why is inventory low? Maybe because so many people are underwater they can’t list even if they want to? Depending on how big this group is (I think it is huge) that is a group of people who will not be purchasing real estate in a long time, this is why the move up market is dead, the ponzi scheme only works if prices are appreciating.

[Anonymous]

[quote=sdrealtor][quote=deadzone][quote=AN][quote=deadzone]But with a limited pool of organic buyers I don’t see home prices remaining afloat for much longer.[/quote]
Where did you get this information from?[/quote]

Well given that San Diego home sales in May 2011 were 27% below the historical volume for May (according to UT) even though interest rates are at all time lows and as Rich points out home prices are genrally reasonable now (not overpriced nor cheap). This leads me to deduce that there just may be a shortage of organic buyers.[/quote]

Or it could be a lack of saleable inventory which is the far bigger culprit.[/quote]

Maybe, but then you must ask yourself why is inventory low? Maybe because so many people are underwater they can’t list even if they want to? Depending on how big this group is (I think it is huge) that is a group of people who will not be purchasing real estate in a long time, this is why the move up market is dead, the ponzi scheme only works if prices are appreciating.

[Anonymous]

[quote=sdrealtor][quote=deadzone][quote=AN][quote=deadzone]But with a limited pool of organic buyers I don’t see home prices remaining afloat for much longer.[/quote]
Where did you get this information from?[/quote]

Well given that San Diego home sales in May 2011 were 27% below the historical volume for May (according to UT) even though interest rates are at all time lows and as Rich points out home prices are genrally reasonable now (not overpriced nor cheap). This leads me to deduce that there just may be a shortage of organic buyers.[/quote]

Or it could be a lack of saleable inventory which is the far bigger culprit.[/quote]

Maybe, but then you must ask yourself why is inventory low? Maybe because so many people are underwater they can’t list even if they want to? Depending on how big this group is (I think it is huge) that is a group of people who will not be purchasing real estate in a long time, this is why the move up market is dead, the ponzi scheme only works if prices are appreciating.

[Anonymous]

[quote=sdrealtor][quote=deadzone][quote=AN][quote=deadzone]But with a limited pool of organic buyers I don’t see home prices remaining afloat for much longer.[/quote]
Where did you get this information from?[/quote]

Well given that San Diego home sales in May 2011 were 27% below the historical volume for May (according to UT) even though interest rates are at all time lows and as Rich points out home prices are genrally reasonable now (not overpriced nor cheap). This leads me to deduce that there just may be a shortage of organic buyers.[/quote]

Or it could be a lack of saleable inventory which is the far bigger culprit.[/quote]

Maybe, but then you must ask yourself why is inventory low? Maybe because so many people are underwater they can’t list even if they want to? Depending on how big this group is (I think it is huge) that is a group of people who will not be purchasing real estate in a long time, this is why the move up market is dead, the ponzi scheme only works if prices are appreciating.

[Anonymous]

[quote=sdrealtor][quote=deadzone][quote=AN][quote=deadzone]But with a limited pool of organic buyers I don’t see home prices remaining afloat for much longer.[/quote]
Where did you get this information from?[/quote]

Well given that San Diego home sales in May 2011 were 27% below the historical volume for May (according to UT) even though interest rates are at all time lows and as Rich points out home prices are genrally reasonable now (not overpriced nor cheap). This leads me to deduce that there just may be a shortage of organic buyers.[/quote]

Or it could be a lack of saleable inventory which is the far bigger culprit.[/quote]

Maybe, but then you must ask yourself why is inventory low? Maybe because so many people are underwater they can’t list even if they want to? Depending on how big this group is (I think it is huge) that is a group of people who will not be purchasing real estate in a long time, this is why the move up market is dead, the ponzi scheme only works if prices are appreciating.

[Anonymous]

La Jolla Renter, I’m in the same boat as you (enjoying life renting in la jolla). No question la jolla hasn’t hit bottom. In fact in my neighborhood the most recent sale a few weeks ago was over 10% less than the previous low and this property was in great shape. It was a short sale so I was surprised the bank would let it go for so far below comps. Anyway the trend is still very clearly down where I live.

[Anonymous]

La Jolla Renter, I’m in the same boat as you (enjoying life renting in la jolla). No question la jolla hasn’t hit bottom. In fact in my neighborhood the most recent sale a few weeks ago was over 10% less than the previous low and this property was in great shape. It was a short sale so I was surprised the bank would let it go for so far below comps. Anyway the trend is still very clearly down where I live.

[Anonymous]

La Jolla Renter, I’m in the same boat as you (enjoying life renting in la jolla). No question la jolla hasn’t hit bottom. In fact in my neighborhood the most recent sale a few weeks ago was over 10% less than the previous low and this property was in great shape. It was a short sale so I was surprised the bank would let it go for so far below comps. Anyway the trend is still very clearly down where I live.

[Anonymous]

La Jolla Renter, I’m in the same boat as you (enjoying life renting in la jolla). No question la jolla hasn’t hit bottom. In fact in my neighborhood the most recent sale a few weeks ago was over 10% less than the previous low and this property was in great shape. It was a short sale so I was surprised the bank would let it go for so far below comps. Anyway the trend is still very clearly down where I live.

[Anonymous]

La Jolla Renter, I’m in the same boat as you (enjoying life renting in la jolla). No question la jolla hasn’t hit bottom. In fact in my neighborhood the most recent sale a few weeks ago was over 10% less than the previous low and this property was in great shape. It was a short sale so I was surprised the bank would let it go for so far below comps. Anyway the trend is still very clearly down where I live.

[ljinvestor]

DeadZone- What was the price range for that sale. SFR under $1.3MM are still pretty strong.

I agree monthly payment is much cheaper to rent a remodeled ocean view property than own, but some of the other non view properties are making sense to purchase over rent. Especially if you can find a good SS, trustee sale, or owner with equity ready to move on.

[ljinvestor]

DeadZone- What was the price range for that sale. SFR under $1.3MM are still pretty strong.

I agree monthly payment is much cheaper to rent a remodeled ocean view property than own, but some of the other non view properties are making sense to purchase over rent. Especially if you can find a good SS, trustee sale, or owner with equity ready to move on.

[ljinvestor]

DeadZone- What was the price range for that sale. SFR under $1.3MM are still pretty strong.

I agree monthly payment is much cheaper to rent a remodeled ocean view property than own, but some of the other non view properties are making sense to purchase over rent. Especially if you can find a good SS, trustee sale, or owner with equity ready to move on.

[ljinvestor]

DeadZone- What was the price range for that sale. SFR under $1.3MM are still pretty strong.

I agree monthly payment is much cheaper to rent a remodeled ocean view property than own, but some of the other non view properties are making sense to purchase over rent. Especially if you can find a good SS, trustee sale, or owner with equity ready to move on.

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