Home Buyer Tax Credit Takes its Toll

[waiting hawk]

“One full week after the tax credit’s expiration, mortgage applications fell 9.5 percent; this as mortgage interest rates dropped below 5 percent.”

“From one of our own CNBC producers, Andrea Mantia:

“I’ve been househunting for a few months now…we totally got caught up in the “tax credit frenzy”….thank God we took a deep breath and relaxed…EVERY SINGLE HOME we had our eye on dropped in price this week…and this is in Bergen Co (NJ) where prices weren’t budging!”

http://www.cnbc.com/id/37106639

[1stimebuy]

I’m still looking at 92131, 92128, 92127 zip codes (I-15) and I notice…

* Still no new inventory (not significantly)
* Sales are still pretty strong (pending within a week or two)
* Not much price drops (except 550K+ market)

So I don’t know about the NJ situation, but SD is still pretty hot IMO. At least above zips. I’m still looking but there isn’t much to look 🙁

[1stimebuy]

I’m still looking at 92131, 92128, 92127 zip codes (I-15) and I notice…

* Still no new inventory (not significantly)
* Sales are still pretty strong (pending within a week or two)
* Not much price drops (except 550K+ market)

So I don’t know about the NJ situation, but SD is still pretty hot IMO. At least above zips. I’m still looking but there isn’t much to look 🙁

[1stimebuy]

I’m still looking at 92131, 92128, 92127 zip codes (I-15) and I notice…

* Still no new inventory (not significantly)
* Sales are still pretty strong (pending within a week or two)
* Not much price drops (except 550K+ market)

So I don’t know about the NJ situation, but SD is still pretty hot IMO. At least above zips. I’m still looking but there isn’t much to look 🙁

[1stimebuy]

I’m still looking at 92131, 92128, 92127 zip codes (I-15) and I notice…

* Still no new inventory (not significantly)
* Sales are still pretty strong (pending within a week or two)
* Not much price drops (except 550K+ market)

So I don’t know about the NJ situation, but SD is still pretty hot IMO. At least above zips. I’m still looking but there isn’t much to look 🙁

[1stimebuy]

I’m still looking at 92131, 92128, 92127 zip codes (I-15) and I notice…

* Still no new inventory (not significantly)
* Sales are still pretty strong (pending within a week or two)
* Not much price drops (except 550K+ market)

So I don’t know about the NJ situation, but SD is still pretty hot IMO. At least above zips. I’m still looking but there isn’t much to look 🙁

[SD Realtor]

Actually 1stime I see some inventory starting to accumulate. I had posted about it a few weeks ago. IMO there was a pethora of sellers who listed in the past few months with the same delusional pricing goals that we were seeing in the bubble. Pricing well above comps, and well above what an honest appraisal would come in at. Now I am seeing the beginnings of inventory accumulation because those homes did not sell.

Note I am not saying the inventory is good or great, but there are more homes on the market in the zip codes you mentioned then there were last year at this time. Now they are not necessarly priced better then last year. Also yes the good stuff is still going off the shelf quickly.

Hang in there and lets see how things look in July and August.

[SD Realtor]

Actually 1stime I see some inventory starting to accumulate. I had posted about it a few weeks ago. IMO there was a pethora of sellers who listed in the past few months with the same delusional pricing goals that we were seeing in the bubble. Pricing well above comps, and well above what an honest appraisal would come in at. Now I am seeing the beginnings of inventory accumulation because those homes did not sell.

Note I am not saying the inventory is good or great, but there are more homes on the market in the zip codes you mentioned then there were last year at this time. Now they are not necessarly priced better then last year. Also yes the good stuff is still going off the shelf quickly.

Hang in there and lets see how things look in July and August.

[SD Realtor]

Actually 1stime I see some inventory starting to accumulate. I had posted about it a few weeks ago. IMO there was a pethora of sellers who listed in the past few months with the same delusional pricing goals that we were seeing in the bubble. Pricing well above comps, and well above what an honest appraisal would come in at. Now I am seeing the beginnings of inventory accumulation because those homes did not sell.

Note I am not saying the inventory is good or great, but there are more homes on the market in the zip codes you mentioned then there were last year at this time. Now they are not necessarly priced better then last year. Also yes the good stuff is still going off the shelf quickly.

Hang in there and lets see how things look in July and August.

[SD Realtor]

Actually 1stime I see some inventory starting to accumulate. I had posted about it a few weeks ago. IMO there was a pethora of sellers who listed in the past few months with the same delusional pricing goals that we were seeing in the bubble. Pricing well above comps, and well above what an honest appraisal would come in at. Now I am seeing the beginnings of inventory accumulation because those homes did not sell.

Note I am not saying the inventory is good or great, but there are more homes on the market in the zip codes you mentioned then there were last year at this time. Now they are not necessarly priced better then last year. Also yes the good stuff is still going off the shelf quickly.

Hang in there and lets see how things look in July and August.

[SD Realtor]

Actually 1stime I see some inventory starting to accumulate. I had posted about it a few weeks ago. IMO there was a pethora of sellers who listed in the past few months with the same delusional pricing goals that we were seeing in the bubble. Pricing well above comps, and well above what an honest appraisal would come in at. Now I am seeing the beginnings of inventory accumulation because those homes did not sell.

Note I am not saying the inventory is good or great, but there are more homes on the market in the zip codes you mentioned then there were last year at this time. Now they are not necessarly priced better then last year. Also yes the good stuff is still going off the shelf quickly.

Hang in there and lets see how things look in July and August.

[andymajumder]

Glad I pulled out of escrow last week. Lost $350 which I had spend on the inspection….but I think I made th right decision, there have been some price reductions in 92128, 92129 since May 1st and the trend seems downwards.

[andymajumder]

Glad I pulled out of escrow last week. Lost $350 which I had spend on the inspection….but I think I made th right decision, there have been some price reductions in 92128, 92129 since May 1st and the trend seems downwards.

[andymajumder]

Glad I pulled out of escrow last week. Lost $350 which I had spend on the inspection….but I think I made th right decision, there have been some price reductions in 92128, 92129 since May 1st and the trend seems downwards.

[andymajumder]

Glad I pulled out of escrow last week. Lost $350 which I had spend on the inspection….but I think I made th right decision, there have been some price reductions in 92128, 92129 since May 1st and the trend seems downwards.

[Author]

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