Have some areas in San Diego county hit bottom?

[Bugs]

1 – There are very few realty agents whom we allow to be quoted here. I’m pretty sure this individual isn’t one of them.

2 – Santee = Poway ??? (see above)

3 – There are 147 active listings for SFRs right now. There have been an average of 17.33 sales/month over the first 3 months of this year. That means we have 8.5 months worth of standing inventory.

4 – Foreclosure.com currently lists 104 foreclosures and 241 NODs for Santee. That number probably isn’t extremely accurate, but when you compare it to the rate of sales it should give you an idea of what’s coming down the pike over the next few months.

5 – Median price for the closed sales this last quarter was $401,383, which is now only 5.12 x the average annual household income in town ($78,250). By contrast, the median price in 1999 ($191,499) was only 3.6 times the then-median household income level of $53,624. To do that in the here and now, the current medians would have to drop to $281,700.

6 – See #1 above

[little lady]

“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.”

This is not just one house.

Another sold earlier this week, “a piece of sh**”…

Though I am hopeful of this happening,so that I can scoop up the house of my dreams for a song. I am afraid that somehow the lunacy maybe struggling to continue. My husband keeps saying these people bidding up this house are stupid, they are keeping the overpriced market from falling.

I see the number of listing dropping drastically instead of rising. Though I do see the “plain vanilla median” dropping.

My kids are calling to me constantly “there’s another one”, “there’s another one” “these ones have kids”……….this is 2:oo in the afternoon on a Tuesday! Whole families are available @ 2 o’clock during the middle of the week?……..

I am hopeful this is spring bounce……

[little lady]

“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.”

This is not just one house.

Another sold earlier this week, “a piece of sh**”…

Though I am hopeful of this happening,so that I can scoop up the house of my dreams for a song. I am afraid that somehow the lunacy maybe struggling to continue. My husband keeps saying these people bidding up this house are stupid, they are keeping the overpriced market from falling.

I see the number of listing dropping drastically instead of rising. Though I do see the “plain vanilla median” dropping.

My kids are calling to me constantly “there’s another one”, “there’s another one” “these ones have kids”……….this is 2:oo in the afternoon on a Tuesday! Whole families are available @ 2 o’clock during the middle of the week?……..

I am hopeful this is spring bounce……

[little lady]

“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.”

This is not just one house.

Another sold earlier this week, “a piece of sh**”…

Though I am hopeful of this happening,so that I can scoop up the house of my dreams for a song. I am afraid that somehow the lunacy maybe struggling to continue. My husband keeps saying these people bidding up this house are stupid, they are keeping the overpriced market from falling.

I see the number of listing dropping drastically instead of rising. Though I do see the “plain vanilla median” dropping.

My kids are calling to me constantly “there’s another one”, “there’s another one” “these ones have kids”……….this is 2:oo in the afternoon on a Tuesday! Whole families are available @ 2 o’clock during the middle of the week?……..

I am hopeful this is spring bounce……

[little lady]

“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.”

This is not just one house.

Another sold earlier this week, “a piece of sh**”…

Though I am hopeful of this happening,so that I can scoop up the house of my dreams for a song. I am afraid that somehow the lunacy maybe struggling to continue. My husband keeps saying these people bidding up this house are stupid, they are keeping the overpriced market from falling.

I see the number of listing dropping drastically instead of rising. Though I do see the “plain vanilla median” dropping.

My kids are calling to me constantly “there’s another one”, “there’s another one” “these ones have kids”……….this is 2:oo in the afternoon on a Tuesday! Whole families are available @ 2 o’clock during the middle of the week?……..

I am hopeful this is spring bounce……

[little lady]

“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.”

This is not just one house.

Another sold earlier this week, “a piece of sh**”…

Though I am hopeful of this happening,so that I can scoop up the house of my dreams for a song. I am afraid that somehow the lunacy maybe struggling to continue. My husband keeps saying these people bidding up this house are stupid, they are keeping the overpriced market from falling.

I see the number of listing dropping drastically instead of rising. Though I do see the “plain vanilla median” dropping.

My kids are calling to me constantly “there’s another one”, “there’s another one” “these ones have kids”……….this is 2:oo in the afternoon on a Tuesday! Whole families are available @ 2 o’clock during the middle of the week?……..

I am hopeful this is spring bounce……

[Ex-SD]

Well, if you still have any doubts, here is just one more piece of information that tells you where the economy is headed which translates into more foreclosures, job losses, etc etc etc

http://apnews.myway.com/article/20080408/D8VTRM7G1.html

Just because a certain number of people refuse to accept reality doesn’t change reality. If you choose to go ahead and buy a home now, be my guest but my educated guess is that if you do, you will be back here within a year moaning about how much the value of your house has dropped (just like the guy from Temecula that we told not to buy but he did because he wife just had to have a house………………he came back on this board around six months later and his home value had already dropped over $50k+)

[Ex-SD]

Well, if you still have any doubts, here is just one more piece of information that tells you where the economy is headed which translates into more foreclosures, job losses, etc etc etc

http://apnews.myway.com/article/20080408/D8VTRM7G1.html

Just because a certain number of people refuse to accept reality doesn’t change reality. If you choose to go ahead and buy a home now, be my guest but my educated guess is that if you do, you will be back here within a year moaning about how much the value of your house has dropped (just like the guy from Temecula that we told not to buy but he did because he wife just had to have a house………………he came back on this board around six months later and his home value had already dropped over $50k+)

[Ex-SD]

Well, if you still have any doubts, here is just one more piece of information that tells you where the economy is headed which translates into more foreclosures, job losses, etc etc etc

http://apnews.myway.com/article/20080408/D8VTRM7G1.html

Just because a certain number of people refuse to accept reality doesn’t change reality. If you choose to go ahead and buy a home now, be my guest but my educated guess is that if you do, you will be back here within a year moaning about how much the value of your house has dropped (just like the guy from Temecula that we told not to buy but he did because he wife just had to have a house………………he came back on this board around six months later and his home value had already dropped over $50k+)

[Ex-SD]

Well, if you still have any doubts, here is just one more piece of information that tells you where the economy is headed which translates into more foreclosures, job losses, etc etc etc

http://apnews.myway.com/article/20080408/D8VTRM7G1.html

Just because a certain number of people refuse to accept reality doesn’t change reality. If you choose to go ahead and buy a home now, be my guest but my educated guess is that if you do, you will be back here within a year moaning about how much the value of your house has dropped (just like the guy from Temecula that we told not to buy but he did because he wife just had to have a house………………he came back on this board around six months later and his home value had already dropped over $50k+)

[Ex-SD]

Well, if you still have any doubts, here is just one more piece of information that tells you where the economy is headed which translates into more foreclosures, job losses, etc etc etc

http://apnews.myway.com/article/20080408/D8VTRM7G1.html

Just because a certain number of people refuse to accept reality doesn’t change reality. If you choose to go ahead and buy a home now, be my guest but my educated guess is that if you do, you will be back here within a year moaning about how much the value of your house has dropped (just like the guy from Temecula that we told not to buy but he did because he wife just had to have a house………………he came back on this board around six months later and his home value had already dropped over $50k+)

[little lady]

“5 – Median price for the closed sales this last quarter was $401,383, which is now only 5.12 x the average annual household income in town ($78,250). By contrast, the median price in 1999 ($191,499) was only 3.6 times the then-median household income level of $53,624. To do that in the here and now, the current medians would have to drop to $281,700. ”

I read the median was in the 300k range, at present. Not far from 281k….

I really hope the 281k is correct and that’s what happens, but where are these people comming from?

My realtor isn’t the only one saying Poway is getting 5/6 bids on a house. I’ve read it here too.

Thanks ex-sd good article, I’ll show it to my hubby…..

[little lady]

“5 – Median price for the closed sales this last quarter was $401,383, which is now only 5.12 x the average annual household income in town ($78,250). By contrast, the median price in 1999 ($191,499) was only 3.6 times the then-median household income level of $53,624. To do that in the here and now, the current medians would have to drop to $281,700. ”

I read the median was in the 300k range, at present. Not far from 281k….

I really hope the 281k is correct and that’s what happens, but where are these people comming from?

My realtor isn’t the only one saying Poway is getting 5/6 bids on a house. I’ve read it here too.

Thanks ex-sd good article, I’ll show it to my hubby…..

[little lady]

“5 – Median price for the closed sales this last quarter was $401,383, which is now only 5.12 x the average annual household income in town ($78,250). By contrast, the median price in 1999 ($191,499) was only 3.6 times the then-median household income level of $53,624. To do that in the here and now, the current medians would have to drop to $281,700. ”

I read the median was in the 300k range, at present. Not far from 281k….

I really hope the 281k is correct and that’s what happens, but where are these people comming from?

My realtor isn’t the only one saying Poway is getting 5/6 bids on a house. I’ve read it here too.

Thanks ex-sd good article, I’ll show it to my hubby…..

[little lady]

“5 – Median price for the closed sales this last quarter was $401,383, which is now only 5.12 x the average annual household income in town ($78,250). By contrast, the median price in 1999 ($191,499) was only 3.6 times the then-median household income level of $53,624. To do that in the here and now, the current medians would have to drop to $281,700. ”

I read the median was in the 300k range, at present. Not far from 281k….

I really hope the 281k is correct and that’s what happens, but where are these people comming from?

My realtor isn’t the only one saying Poway is getting 5/6 bids on a house. I’ve read it here too.

Thanks ex-sd good article, I’ll show it to my hubby…..

[Author]

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