Home sales continue plunge

[desmond]

[quote=deadzone]I don’t belive that 70% of AZ homeowners are underwater, you’ll have to show some proof of that one. Las Vegas I’ll believe. Las Vegas is the extreme because more than any other place they grew disproportionally during the 2000s due to the bogus economy.

[/quote]

dead, the actual number is 75% as discussed on a previous topic:

http://www.lvrj.com/business/las-vegas-home-values-keep-going-down-100714169.html?source=patrick.net#branding-left

[Scarlett]

[quote=sago][quote=andymajumder][quote=Scarlett]I’d be happy with a 2002 nominal pricing for Rancho Penasquitos…[/quote]

That may be possible quite soon. Actually even now if you negotiate hard you can get early 2003 nominal price…and than factor in that interest rates are about 2% lower now than early 2003, you are probably getting early to mid 2002 prices. You do have to take the cost of financing into account.[/quote]

In PQ, 2003 seems to be the year the prices rose steeply. PQ(92129) average home prices rose from 410K to 510K in one year. When you say you get 2003 prices, are you refering to early or late 2003? PQ homes are still way pricer compared to these and at best are closer to 500K range.

Any thoughts?[/quote]

S/he said EARLY 2003. You are quite correct, which is why I said 2002. I think it’s very hard and you have to be very lucky to get early 2003 prices in PQ nowadays. You could get them last spring.

[Scarlett]

[quote=sago][quote=andymajumder][quote=Scarlett]I’d be happy with a 2002 nominal pricing for Rancho Penasquitos…[/quote]

That may be possible quite soon. Actually even now if you negotiate hard you can get early 2003 nominal price…and than factor in that interest rates are about 2% lower now than early 2003, you are probably getting early to mid 2002 prices. You do have to take the cost of financing into account.[/quote]

In PQ, 2003 seems to be the year the prices rose steeply. PQ(92129) average home prices rose from 410K to 510K in one year. When you say you get 2003 prices, are you refering to early or late 2003? PQ homes are still way pricer compared to these and at best are closer to 500K range.

Any thoughts?[/quote]

S/he said EARLY 2003. You are quite correct, which is why I said 2002. I think it’s very hard and you have to be very lucky to get early 2003 prices in PQ nowadays. You could get them last spring.

[Scarlett]

[quote=sago][quote=andymajumder][quote=Scarlett]I’d be happy with a 2002 nominal pricing for Rancho Penasquitos…[/quote]

That may be possible quite soon. Actually even now if you negotiate hard you can get early 2003 nominal price…and than factor in that interest rates are about 2% lower now than early 2003, you are probably getting early to mid 2002 prices. You do have to take the cost of financing into account.[/quote]

In PQ, 2003 seems to be the year the prices rose steeply. PQ(92129) average home prices rose from 410K to 510K in one year. When you say you get 2003 prices, are you refering to early or late 2003? PQ homes are still way pricer compared to these and at best are closer to 500K range.

Any thoughts?[/quote]

S/he said EARLY 2003. You are quite correct, which is why I said 2002. I think it’s very hard and you have to be very lucky to get early 2003 prices in PQ nowadays. You could get them last spring.

[Scarlett]

[quote=sago][quote=andymajumder][quote=Scarlett]I’d be happy with a 2002 nominal pricing for Rancho Penasquitos…[/quote]

That may be possible quite soon. Actually even now if you negotiate hard you can get early 2003 nominal price…and than factor in that interest rates are about 2% lower now than early 2003, you are probably getting early to mid 2002 prices. You do have to take the cost of financing into account.[/quote]

In PQ, 2003 seems to be the year the prices rose steeply. PQ(92129) average home prices rose from 410K to 510K in one year. When you say you get 2003 prices, are you refering to early or late 2003? PQ homes are still way pricer compared to these and at best are closer to 500K range.

Any thoughts?[/quote]

S/he said EARLY 2003. You are quite correct, which is why I said 2002. I think it’s very hard and you have to be very lucky to get early 2003 prices in PQ nowadays. You could get them last spring.

[Scarlett]

[quote=sago][quote=andymajumder][quote=Scarlett]I’d be happy with a 2002 nominal pricing for Rancho Penasquitos…[/quote]

That may be possible quite soon. Actually even now if you negotiate hard you can get early 2003 nominal price…and than factor in that interest rates are about 2% lower now than early 2003, you are probably getting early to mid 2002 prices. You do have to take the cost of financing into account.[/quote]

In PQ, 2003 seems to be the year the prices rose steeply. PQ(92129) average home prices rose from 410K to 510K in one year. When you say you get 2003 prices, are you refering to early or late 2003? PQ homes are still way pricer compared to these and at best are closer to 500K range.

Any thoughts?[/quote]

S/he said EARLY 2003. You are quite correct, which is why I said 2002. I think it’s very hard and you have to be very lucky to get early 2003 prices in PQ nowadays. You could get them last spring.

[Arraya]

[quote=stockstradr]In case it hasn’t been posted to this thread, Mish has some great blogging on this topic:

http://globaleconomicanalysis.blogspot.com/2010/08/burning-down-house-new-home-sales.html%5B/quote%5D

Inventory is up, sales are down, sentiment has soured, and tax credits have gone poof.

Prices will follow.

Simple enough

[Arraya]

[quote=stockstradr]In case it hasn’t been posted to this thread, Mish has some great blogging on this topic:

http://globaleconomicanalysis.blogspot.com/2010/08/burning-down-house-new-home-sales.html%5B/quote%5D

Inventory is up, sales are down, sentiment has soured, and tax credits have gone poof.

Prices will follow.

Simple enough

[Arraya]

[quote=stockstradr]In case it hasn’t been posted to this thread, Mish has some great blogging on this topic:

http://globaleconomicanalysis.blogspot.com/2010/08/burning-down-house-new-home-sales.html%5B/quote%5D

Inventory is up, sales are down, sentiment has soured, and tax credits have gone poof.

Prices will follow.

Simple enough

[Arraya]

[quote=stockstradr]In case it hasn’t been posted to this thread, Mish has some great blogging on this topic:

http://globaleconomicanalysis.blogspot.com/2010/08/burning-down-house-new-home-sales.html%5B/quote%5D

Inventory is up, sales are down, sentiment has soured, and tax credits have gone poof.

Prices will follow.

Simple enough

[Arraya]

[quote=stockstradr]In case it hasn’t been posted to this thread, Mish has some great blogging on this topic:

http://globaleconomicanalysis.blogspot.com/2010/08/burning-down-house-new-home-sales.html%5B/quote%5D

Inventory is up, sales are down, sentiment has soured, and tax credits have gone poof.

Prices will follow.

Simple enough

[Nor-LA-SD-guy]

Although I think there is still some down side left (possibly a lot in some markets that so far have not been slaughtered), for the U.S. as a whole I think the sales steep decline is a temporary thing caused by the tax credits, I think home sales will rebound somewhat come next spring.

[Nor-LA-SD-guy]

Although I think there is still some down side left (possibly a lot in some markets that so far have not been slaughtered), for the U.S. as a whole I think the sales steep decline is a temporary thing caused by the tax credits, I think home sales will rebound somewhat come next spring.

[Nor-LA-SD-guy]

Although I think there is still some down side left (possibly a lot in some markets that so far have not been slaughtered), for the U.S. as a whole I think the sales steep decline is a temporary thing caused by the tax credits, I think home sales will rebound somewhat come next spring.

[Nor-LA-SD-guy]

Although I think there is still some down side left (possibly a lot in some markets that so far have not been slaughtered), for the U.S. as a whole I think the sales steep decline is a temporary thing caused by the tax credits, I think home sales will rebound somewhat come next spring.

[Author]

Posts