Housing won’t hit bottom ’til 2012

[faterikcartman]

[quote=sdrealtor]. The best deals are very elusive. The house my client is getting is the kind that stays in a family forever and only rarely do properties like this hit the market at any time or any price. If you arent looking now and arent ready to strike when that opportunity presents itself (which could take a couple eyars of work to find) it is very unlikely you will be among the truly big winners in this cycle.[/quote]

This too. If you’ve got a lot, relatively, of money to spend your particulars are generally, well, more particular. We have made house hunting almost a hobby for eleven years. It is remarkable how rare the great deal “dream home” houses and lots really are. Oh we’ve seen many in magazines and on the Internet, but those rarely are the same in person.

If you are looking at it purely from a financial sense maybe you don’t need to get going, but if you’re looking for a house you could die in I would start looking now. Earnestly.

[briansd1]

[quote=deadzone]Although I look mainly at coastal S.D (Pt loma thru La Jolla), I am just asking for any example areas that meet your criteria because I quite frankly don’t believe any area has really hit bottom.

Regarding the lower pricing I am seeing in La Jolla, it is a combination of all cases. There are some short sales, some foreclosures, and in some cases long time residents (presumably way above water) who are finally waking up to reality that they have to lower their asking prices significantly if they want to sell.[/quote]

I absolutely agree with you. I have noticed the same thing. As the article says:

Why the continuing funk? Analysts say the foreclosures and short sales that depressed home prices in general are finally catching up with the high-end market. The day of reckoning just took more time.

“Formerly affluent people who borrowed far too much money” are running out of staying power, Burns said.

[briansd1]

[quote=deadzone]Although I look mainly at coastal S.D (Pt loma thru La Jolla), I am just asking for any example areas that meet your criteria because I quite frankly don’t believe any area has really hit bottom.

Regarding the lower pricing I am seeing in La Jolla, it is a combination of all cases. There are some short sales, some foreclosures, and in some cases long time residents (presumably way above water) who are finally waking up to reality that they have to lower their asking prices significantly if they want to sell.[/quote]

I absolutely agree with you. I have noticed the same thing. As the article says:

Why the continuing funk? Analysts say the foreclosures and short sales that depressed home prices in general are finally catching up with the high-end market. The day of reckoning just took more time.

“Formerly affluent people who borrowed far too much money” are running out of staying power, Burns said.

[briansd1]

[quote=deadzone]Although I look mainly at coastal S.D (Pt loma thru La Jolla), I am just asking for any example areas that meet your criteria because I quite frankly don’t believe any area has really hit bottom.

Regarding the lower pricing I am seeing in La Jolla, it is a combination of all cases. There are some short sales, some foreclosures, and in some cases long time residents (presumably way above water) who are finally waking up to reality that they have to lower their asking prices significantly if they want to sell.[/quote]

I absolutely agree with you. I have noticed the same thing. As the article says:

Why the continuing funk? Analysts say the foreclosures and short sales that depressed home prices in general are finally catching up with the high-end market. The day of reckoning just took more time.

“Formerly affluent people who borrowed far too much money” are running out of staying power, Burns said.

[briansd1]

[quote=deadzone]Although I look mainly at coastal S.D (Pt loma thru La Jolla), I am just asking for any example areas that meet your criteria because I quite frankly don’t believe any area has really hit bottom.

Regarding the lower pricing I am seeing in La Jolla, it is a combination of all cases. There are some short sales, some foreclosures, and in some cases long time residents (presumably way above water) who are finally waking up to reality that they have to lower their asking prices significantly if they want to sell.[/quote]

I absolutely agree with you. I have noticed the same thing. As the article says:

Why the continuing funk? Analysts say the foreclosures and short sales that depressed home prices in general are finally catching up with the high-end market. The day of reckoning just took more time.

“Formerly affluent people who borrowed far too much money” are running out of staying power, Burns said.

[briansd1]

[quote=deadzone]Although I look mainly at coastal S.D (Pt loma thru La Jolla), I am just asking for any example areas that meet your criteria because I quite frankly don’t believe any area has really hit bottom.

Regarding the lower pricing I am seeing in La Jolla, it is a combination of all cases. There are some short sales, some foreclosures, and in some cases long time residents (presumably way above water) who are finally waking up to reality that they have to lower their asking prices significantly if they want to sell.[/quote]

I absolutely agree with you. I have noticed the same thing. As the article says:

Why the continuing funk? Analysts say the foreclosures and short sales that depressed home prices in general are finally catching up with the high-end market. The day of reckoning just took more time.

“Formerly affluent people who borrowed far too much money” are running out of staying power, Burns said.

[faterikcartman]

[quote=bearishgurl][quote=sdrealtor]The persist for a few years is the key but that doesnt mean wait a few years and then head out. The best deals are very elusive. The house my client is getting is the kind that stays in a family forever and only rarely do properties like this hit the market at any time or any price. If you arent looking now and arent ready to strike when that opportunity presents itself (which could take a couple eyars of work to find) it is very unlikely you will be among the truly big winners in this cycle.[/quote]

For ONCE, sdr . . . I agree. I’ve experienced a few “cycles” in my lifetime and always have known this. I’ve tried to articulate this concept here, but feel it may have fallen on deaf ears :={[/quote]

The wife and I, between 1999 and 2001 had our eye on harbour and down town LR view Point Loma house for $625K to Rancho Santa Fe under $1M. We could have afforded them at the time and would have made an absolute killing on either. But we were young, afraid, and inexperienced. We are determined to not sit on the sidelines and miss this period as well because we’re too afraid of making a mistake.

[faterikcartman]

[quote=bearishgurl][quote=sdrealtor]The persist for a few years is the key but that doesnt mean wait a few years and then head out. The best deals are very elusive. The house my client is getting is the kind that stays in a family forever and only rarely do properties like this hit the market at any time or any price. If you arent looking now and arent ready to strike when that opportunity presents itself (which could take a couple eyars of work to find) it is very unlikely you will be among the truly big winners in this cycle.[/quote]

For ONCE, sdr . . . I agree. I’ve experienced a few “cycles” in my lifetime and always have known this. I’ve tried to articulate this concept here, but feel it may have fallen on deaf ears :={[/quote]

The wife and I, between 1999 and 2001 had our eye on harbour and down town LR view Point Loma house for $625K to Rancho Santa Fe under $1M. We could have afforded them at the time and would have made an absolute killing on either. But we were young, afraid, and inexperienced. We are determined to not sit on the sidelines and miss this period as well because we’re too afraid of making a mistake.

[faterikcartman]

[quote=bearishgurl][quote=sdrealtor]The persist for a few years is the key but that doesnt mean wait a few years and then head out. The best deals are very elusive. The house my client is getting is the kind that stays in a family forever and only rarely do properties like this hit the market at any time or any price. If you arent looking now and arent ready to strike when that opportunity presents itself (which could take a couple eyars of work to find) it is very unlikely you will be among the truly big winners in this cycle.[/quote]

For ONCE, sdr . . . I agree. I’ve experienced a few “cycles” in my lifetime and always have known this. I’ve tried to articulate this concept here, but feel it may have fallen on deaf ears :={[/quote]

The wife and I, between 1999 and 2001 had our eye on harbour and down town LR view Point Loma house for $625K to Rancho Santa Fe under $1M. We could have afforded them at the time and would have made an absolute killing on either. But we were young, afraid, and inexperienced. We are determined to not sit on the sidelines and miss this period as well because we’re too afraid of making a mistake.

[faterikcartman]

[quote=bearishgurl][quote=sdrealtor]The persist for a few years is the key but that doesnt mean wait a few years and then head out. The best deals are very elusive. The house my client is getting is the kind that stays in a family forever and only rarely do properties like this hit the market at any time or any price. If you arent looking now and arent ready to strike when that opportunity presents itself (which could take a couple eyars of work to find) it is very unlikely you will be among the truly big winners in this cycle.[/quote]

For ONCE, sdr . . . I agree. I’ve experienced a few “cycles” in my lifetime and always have known this. I’ve tried to articulate this concept here, but feel it may have fallen on deaf ears :={[/quote]

The wife and I, between 1999 and 2001 had our eye on harbour and down town LR view Point Loma house for $625K to Rancho Santa Fe under $1M. We could have afforded them at the time and would have made an absolute killing on either. But we were young, afraid, and inexperienced. We are determined to not sit on the sidelines and miss this period as well because we’re too afraid of making a mistake.

[faterikcartman]

[quote=bearishgurl][quote=sdrealtor]The persist for a few years is the key but that doesnt mean wait a few years and then head out. The best deals are very elusive. The house my client is getting is the kind that stays in a family forever and only rarely do properties like this hit the market at any time or any price. If you arent looking now and arent ready to strike when that opportunity presents itself (which could take a couple eyars of work to find) it is very unlikely you will be among the truly big winners in this cycle.[/quote]

For ONCE, sdr . . . I agree. I’ve experienced a few “cycles” in my lifetime and always have known this. I’ve tried to articulate this concept here, but feel it may have fallen on deaf ears :={[/quote]

The wife and I, between 1999 and 2001 had our eye on harbour and down town LR view Point Loma house for $625K to Rancho Santa Fe under $1M. We could have afforded them at the time and would have made an absolute killing on either. But we were young, afraid, and inexperienced. We are determined to not sit on the sidelines and miss this period as well because we’re too afraid of making a mistake.

[sdrealtor]

deadzone
The property is up in OC. It was new construction and he bought in late 2003 but closed in mid 2004. I ran comps for him a few months back. If I sold it for him we could pay off the 1st, cover buyer commissions and escrow/title charges. He is like a brother and I wouldnt charge him anything for my side.

[sdrealtor]

deadzone
The property is up in OC. It was new construction and he bought in late 2003 but closed in mid 2004. I ran comps for him a few months back. If I sold it for him we could pay off the 1st, cover buyer commissions and escrow/title charges. He is like a brother and I wouldnt charge him anything for my side.

[sdrealtor]

deadzone
The property is up in OC. It was new construction and he bought in late 2003 but closed in mid 2004. I ran comps for him a few months back. If I sold it for him we could pay off the 1st, cover buyer commissions and escrow/title charges. He is like a brother and I wouldnt charge him anything for my side.

[sdrealtor]

deadzone
The property is up in OC. It was new construction and he bought in late 2003 but closed in mid 2004. I ran comps for him a few months back. If I sold it for him we could pay off the 1st, cover buyer commissions and escrow/title charges. He is like a brother and I wouldnt charge him anything for my side.

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