govt intervention

[CA renter]

[quote=eavesdropper]
While I do firmly agree that the “worth” of a property is what someone is willing to pay, I don’t believe that this is the dynamic at work when a lender preemptively sets a price that is far below most of the recent sales in a neighborhood. And forcing appraisers to cherry pick sales is not a way to “normalize” the market – no more so than when it was done when prices were on the upswing.

Sorry it took so long for me to state my concerns. I really should do this during the day, instead of 1 am, when it takes me 5 times as long to form a cogent argument (or perhaps not quite cogent).[/quote]

Trust me, if the house is worth $400K (or more) and the lenders are listing it for $300K, they will get multiple offers in the $375K to $425K range. I’ve seen this over and over and over again this past year. However, if the lenders are listing homes for $300K, and other hopeful sellers are listing for $450K (and not selling within the first 60 days), then it’s the lenders who are getting the prices right, while the “regular” sellers are having a difficult time coming to terms with the real market values of their houses.

It’s very difficult to have an “underpriced” sale **as long as it’s an open-market sale.** There have been plenty of buyers out there in the San Diego area. I see them swarming new listings all the time. There are flippers, organic buyers, and people who want to become landlords; and they are all competing for the very limited inventory on the market right now.

This is NOT a slow market. It’s been on fire since about February 2008, and it’s been gaining steam throughout 2009. The only slow period was the second half of 2007, and even then there was plenty of activity if a house was priced right (we had to sell a few properties during that time, and sold everything fairly easily because we weren’t wed to a particular price). If I were a potential seller, I’d be listing right now. This is a seller’s market, not a buyer’s market.

[sdrealtor]

Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.

[sdrealtor]

Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.

[sdrealtor]

Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.

[sdrealtor]

Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.

[sdrealtor]

Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.

[CA renter]

[quote=sdrealtor]Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.[/quote]

Thanks for clarifying that, sdr.

From what I’m hearing, DC is even hotter than San Diego, especially “inside the beltway.” It’s not just San Diego that saw the declines stop mid-stream (between the low end and high end). As the bubble was bursting, the natural progression was happening just as it usually does: from the least desirable to the most desirable. Problem is, the govt jumped in right when things were working their way through the mid-level homes.

It seems every major city in the U.S. is seeing the exact same situation that we are WRT the increased speculation and the shortage of good, well-priced inventory. San Diego is not “special,” and the govt is firmly behind the shortage of inventory and increased demand.

The wild card is whether or not the govt can continue: for how long, and to what extent? I really don’t have the answer to this. I just know that this is not a “normal” market.

[CA renter]

[quote=sdrealtor]Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.[/quote]

Thanks for clarifying that, sdr.

From what I’m hearing, DC is even hotter than San Diego, especially “inside the beltway.” It’s not just San Diego that saw the declines stop mid-stream (between the low end and high end). As the bubble was bursting, the natural progression was happening just as it usually does: from the least desirable to the most desirable. Problem is, the govt jumped in right when things were working their way through the mid-level homes.

It seems every major city in the U.S. is seeing the exact same situation that we are WRT the increased speculation and the shortage of good, well-priced inventory. San Diego is not “special,” and the govt is firmly behind the shortage of inventory and increased demand.

The wild card is whether or not the govt can continue: for how long, and to what extent? I really don’t have the answer to this. I just know that this is not a “normal” market.

[CA renter]

[quote=sdrealtor]Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.[/quote]

Thanks for clarifying that, sdr.

From what I’m hearing, DC is even hotter than San Diego, especially “inside the beltway.” It’s not just San Diego that saw the declines stop mid-stream (between the low end and high end). As the bubble was bursting, the natural progression was happening just as it usually does: from the least desirable to the most desirable. Problem is, the govt jumped in right when things were working their way through the mid-level homes.

It seems every major city in the U.S. is seeing the exact same situation that we are WRT the increased speculation and the shortage of good, well-priced inventory. San Diego is not “special,” and the govt is firmly behind the shortage of inventory and increased demand.

The wild card is whether or not the govt can continue: for how long, and to what extent? I really don’t have the answer to this. I just know that this is not a “normal” market.

[CA renter]

[quote=sdrealtor]Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.[/quote]

Thanks for clarifying that, sdr.

From what I’m hearing, DC is even hotter than San Diego, especially “inside the beltway.” It’s not just San Diego that saw the declines stop mid-stream (between the low end and high end). As the bubble was bursting, the natural progression was happening just as it usually does: from the least desirable to the most desirable. Problem is, the govt jumped in right when things were working their way through the mid-level homes.

It seems every major city in the U.S. is seeing the exact same situation that we are WRT the increased speculation and the shortage of good, well-priced inventory. San Diego is not “special,” and the govt is firmly behind the shortage of inventory and increased demand.

The wild card is whether or not the govt can continue: for how long, and to what extent? I really don’t have the answer to this. I just know that this is not a “normal” market.

[CA renter]

[quote=sdrealtor]Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.[/quote]

Thanks for clarifying that, sdr.

From what I’m hearing, DC is even hotter than San Diego, especially “inside the beltway.” It’s not just San Diego that saw the declines stop mid-stream (between the low end and high end). As the bubble was bursting, the natural progression was happening just as it usually does: from the least desirable to the most desirable. Problem is, the govt jumped in right when things were working their way through the mid-level homes.

It seems every major city in the U.S. is seeing the exact same situation that we are WRT the increased speculation and the shortage of good, well-priced inventory. San Diego is not “special,” and the govt is firmly behind the shortage of inventory and increased demand.

The wild card is whether or not the govt can continue: for how long, and to what extent? I really don’t have the answer to this. I just know that this is not a “normal” market.

[UCGal]

Isn’t “Real Estate Intervention” based in the DC metro area? Seems like there are a lot of “hopefull buyers” who aren’t getting the price right there.

[UCGal]

Isn’t “Real Estate Intervention” based in the DC metro area? Seems like there are a lot of “hopefull buyers” who aren’t getting the price right there.

[UCGal]

Isn’t “Real Estate Intervention” based in the DC metro area? Seems like there are a lot of “hopefull buyers” who aren’t getting the price right there.

[UCGal]

Isn’t “Real Estate Intervention” based in the DC metro area? Seems like there are a lot of “hopefull buyers” who aren’t getting the price right there.

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