Have some areas in San Diego county hit bottom?

[little lady]

As some already know, I sold my house last May. I have been looking and waiting to get a better deal. Now, I finally put in a lowball offer on a house in my neighborhood. My realtor said Santee market is a mirror of Poway. He said there, they are getting 5/6 offers on a house. The first day my realtor said it got including mine at least 5 offers. I live in the neighborhood and watched literally droves of people looking at this house. People were comming up to me asking how I liked the neighborhood. They were peeking in the windows,looking over the fence, trying to get in. I thought I was at the swap meet. Mostly young(early 30’s) families that seemed so excited to get a chance to buy this great deal of a house. I saw more than a few older folks looking for an investment property. I counted at least 27 families yesterday and the madness continued today…….another house in the neighborhood just went into escrow (after stacking offers) in a week! Please somebody convince me this is just spring bounce!!!!! or have some areas bottomed out?

[gn]

Look at this this way.

The mother of all bubble markets (in the SD metropolitan area), Temecula has not hit the bottom. So, I don’t see how any part of SD county has hit the bottom.

[gn]

Look at this this way.

The mother of all bubble markets (in the SD metropolitan area), Temecula has not hit the bottom. So, I don’t see how any part of SD county has hit the bottom.

[gn]

Look at this this way.

The mother of all bubble markets (in the SD metropolitan area), Temecula has not hit the bottom. So, I don’t see how any part of SD county has hit the bottom.

[gn]

Look at this this way.

The mother of all bubble markets (in the SD metropolitan area), Temecula has not hit the bottom. So, I don’t see how any part of SD county has hit the bottom.

[gn]

Look at this this way.

The mother of all bubble markets (in the SD metropolitan area), Temecula has not hit the bottom. So, I don’t see how any part of SD county has hit the bottom.

[Ex-SD]

There is no shortage of fools who are ready to rush out and buy a home in San Diego. It’s a long way from the bottom and those who buy now will regret their hasty, emotional, “gotta have it now” desire for owning home and paying way too many $$$$$ for houses. You probably won’t see the bottom until 2011-2012 and by then, there will be plenty of houses to choose from. And after the bottom is finally found, prices are not going to magically zoom upward again for a loooooooong time. Any rational, logical person can simply look at all the information that is readily available on all the major, news websites and in newspapers to see which direction the economy is headed for the next few years and what’s going to continue to happen in the housing market.
Don’t be a sucker and follow the herd while they’re jumping off a cliff.

[Ex-SD]

There is no shortage of fools who are ready to rush out and buy a home in San Diego. It’s a long way from the bottom and those who buy now will regret their hasty, emotional, “gotta have it now” desire for owning home and paying way too many $$$$$ for houses. You probably won’t see the bottom until 2011-2012 and by then, there will be plenty of houses to choose from. And after the bottom is finally found, prices are not going to magically zoom upward again for a loooooooong time. Any rational, logical person can simply look at all the information that is readily available on all the major, news websites and in newspapers to see which direction the economy is headed for the next few years and what’s going to continue to happen in the housing market.
Don’t be a sucker and follow the herd while they’re jumping off a cliff.

[Ex-SD]

There is no shortage of fools who are ready to rush out and buy a home in San Diego. It’s a long way from the bottom and those who buy now will regret their hasty, emotional, “gotta have it now” desire for owning home and paying way too many $$$$$ for houses. You probably won’t see the bottom until 2011-2012 and by then, there will be plenty of houses to choose from. And after the bottom is finally found, prices are not going to magically zoom upward again for a loooooooong time. Any rational, logical person can simply look at all the information that is readily available on all the major, news websites and in newspapers to see which direction the economy is headed for the next few years and what’s going to continue to happen in the housing market.
Don’t be a sucker and follow the herd while they’re jumping off a cliff.

[Ex-SD]

There is no shortage of fools who are ready to rush out and buy a home in San Diego. It’s a long way from the bottom and those who buy now will regret their hasty, emotional, “gotta have it now” desire for owning home and paying way too many $$$$$ for houses. You probably won’t see the bottom until 2011-2012 and by then, there will be plenty of houses to choose from. And after the bottom is finally found, prices are not going to magically zoom upward again for a loooooooong time. Any rational, logical person can simply look at all the information that is readily available on all the major, news websites and in newspapers to see which direction the economy is headed for the next few years and what’s going to continue to happen in the housing market.
Don’t be a sucker and follow the herd while they’re jumping off a cliff.

[Ex-SD]

There is no shortage of fools who are ready to rush out and buy a home in San Diego. It’s a long way from the bottom and those who buy now will regret their hasty, emotional, “gotta have it now” desire for owning home and paying way too many $$$$$ for houses. You probably won’t see the bottom until 2011-2012 and by then, there will be plenty of houses to choose from. And after the bottom is finally found, prices are not going to magically zoom upward again for a loooooooong time. Any rational, logical person can simply look at all the information that is readily available on all the major, news websites and in newspapers to see which direction the economy is headed for the next few years and what’s going to continue to happen in the housing market.
Don’t be a sucker and follow the herd while they’re jumping off a cliff.

[DWCAP]

One house does not a market make.

Competivly priced houses are getting lots of attention right now. To assume that other houses wont try to get in on that attention by becoming competivly priced is to misunderstand how housing is priced (comps). Soon, they are not competivly priced anymore and then further reductions are needed to gain the attention. Poway is not amazingly different than MM, RB, or PQ. Pain in one will spread to the others. Also, just because people are looking doesnt mean people are BUYING/CLOSING. Look at Raptorduck, 100+ houses and now a renter. Ill bet he has alot more resources to buy than those 30 something families.

If you dont believe me look at the sales totals on the main page from Rich. Down 33.7% from 2007. If places were bottoming sales wouldnt be getting cut by a third. Sales are slowing, Inventory is high, must sell inventory is high, rates are extreamly favorable already, effects of recession and employment decline are mostly still ahead not behind. That doesnt meet the definintion of any bottom I have ever heard of.

[DWCAP]

One house does not a market make.

Competivly priced houses are getting lots of attention right now. To assume that other houses wont try to get in on that attention by becoming competivly priced is to misunderstand how housing is priced (comps). Soon, they are not competivly priced anymore and then further reductions are needed to gain the attention. Poway is not amazingly different than MM, RB, or PQ. Pain in one will spread to the others. Also, just because people are looking doesnt mean people are BUYING/CLOSING. Look at Raptorduck, 100+ houses and now a renter. Ill bet he has alot more resources to buy than those 30 something families.

If you dont believe me look at the sales totals on the main page from Rich. Down 33.7% from 2007. If places were bottoming sales wouldnt be getting cut by a third. Sales are slowing, Inventory is high, must sell inventory is high, rates are extreamly favorable already, effects of recession and employment decline are mostly still ahead not behind. That doesnt meet the definintion of any bottom I have ever heard of.

[DWCAP]

One house does not a market make.

Competivly priced houses are getting lots of attention right now. To assume that other houses wont try to get in on that attention by becoming competivly priced is to misunderstand how housing is priced (comps). Soon, they are not competivly priced anymore and then further reductions are needed to gain the attention. Poway is not amazingly different than MM, RB, or PQ. Pain in one will spread to the others. Also, just because people are looking doesnt mean people are BUYING/CLOSING. Look at Raptorduck, 100+ houses and now a renter. Ill bet he has alot more resources to buy than those 30 something families.

If you dont believe me look at the sales totals on the main page from Rich. Down 33.7% from 2007. If places were bottoming sales wouldnt be getting cut by a third. Sales are slowing, Inventory is high, must sell inventory is high, rates are extreamly favorable already, effects of recession and employment decline are mostly still ahead not behind. That doesnt meet the definintion of any bottom I have ever heard of.

[DWCAP]

One house does not a market make.

Competivly priced houses are getting lots of attention right now. To assume that other houses wont try to get in on that attention by becoming competivly priced is to misunderstand how housing is priced (comps). Soon, they are not competivly priced anymore and then further reductions are needed to gain the attention. Poway is not amazingly different than MM, RB, or PQ. Pain in one will spread to the others. Also, just because people are looking doesnt mean people are BUYING/CLOSING. Look at Raptorduck, 100+ houses and now a renter. Ill bet he has alot more resources to buy than those 30 something families.

If you dont believe me look at the sales totals on the main page from Rich. Down 33.7% from 2007. If places were bottoming sales wouldnt be getting cut by a third. Sales are slowing, Inventory is high, must sell inventory is high, rates are extreamly favorable already, effects of recession and employment decline are mostly still ahead not behind. That doesnt meet the definintion of any bottom I have ever heard of.

[Author]

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