Housing won’t hit bottom ’til 2012

[Anonymous]

[quote=sdrealtor]My best friend had a 5/1 ARM that reset last year. He doesnt have any equity but isnt underwater either. He makes plenty of money, comes from a wealthy family and has plenty saved so he isnt worried at all. The reduction in his monthly payment was enough to make the monthly payments on his new BMW.[/quote]

Is this interest only? If so, how can he not be underwater? I am still waiting for an example of an interest only loan made during the bubble where the payment went down.

[bearishgurl]

[quote=jpinpb] . . . I think there’s still room to drop as the article alludes, especially the high-end. Already seeing some drops in 92106 that I didn’t see last year.[/quote]

. . . jpinpb, I too, saw this when Pigg jstoesz brought this issue up last week on another thread. But even so, I’m sure you’re aware that, in 92106, a property even NEXT DOOR to an extremely desireable property (for my purposes) may not be ANYWHERE NEAR AS DESIRABLE as its neighboring property. It all depends upon lot size, topography of lot, and most of all, the way the structure is facing/tilting towards, as to allow for a possible sit-down SD dtn skyline-view. If the property is situated correctly, but facing towards a lesser view (i.e. Pt. Loma Lighthouse or Sea World) and cannot be remodeled to orient correctly due to land elevation, structure limitations or easements, then, to me, it would not be suitable for my needs or be a “knockdown.” Since a “knockdown” would add considerable $$ and headache to a potential remodel, it would totally justify or may not even be worth its lower asking price . . . to me. IMO, in 92106. you pay for exactly what you get, nothing more, nothing less.

To me, 92106, in and of itself, is not particularly “desireable.” A sit-down dtn SD view from inside the living area makes it so.

[bearishgurl]

[quote=jpinpb] . . . I think there’s still room to drop as the article alludes, especially the high-end. Already seeing some drops in 92106 that I didn’t see last year.[/quote]

. . . jpinpb, I too, saw this when Pigg jstoesz brought this issue up last week on another thread. But even so, I’m sure you’re aware that, in 92106, a property even NEXT DOOR to an extremely desireable property (for my purposes) may not be ANYWHERE NEAR AS DESIRABLE as its neighboring property. It all depends upon lot size, topography of lot, and most of all, the way the structure is facing/tilting towards, as to allow for a possible sit-down SD dtn skyline-view. If the property is situated correctly, but facing towards a lesser view (i.e. Pt. Loma Lighthouse or Sea World) and cannot be remodeled to orient correctly due to land elevation, structure limitations or easements, then, to me, it would not be suitable for my needs or be a “knockdown.” Since a “knockdown” would add considerable $$ and headache to a potential remodel, it would totally justify or may not even be worth its lower asking price . . . to me. IMO, in 92106. you pay for exactly what you get, nothing more, nothing less.

To me, 92106, in and of itself, is not particularly “desireable.” A sit-down dtn SD view from inside the living area makes it so.

[bearishgurl]

[quote=jpinpb] . . . I think there’s still room to drop as the article alludes, especially the high-end. Already seeing some drops in 92106 that I didn’t see last year.[/quote]

. . . jpinpb, I too, saw this when Pigg jstoesz brought this issue up last week on another thread. But even so, I’m sure you’re aware that, in 92106, a property even NEXT DOOR to an extremely desireable property (for my purposes) may not be ANYWHERE NEAR AS DESIRABLE as its neighboring property. It all depends upon lot size, topography of lot, and most of all, the way the structure is facing/tilting towards, as to allow for a possible sit-down SD dtn skyline-view. If the property is situated correctly, but facing towards a lesser view (i.e. Pt. Loma Lighthouse or Sea World) and cannot be remodeled to orient correctly due to land elevation, structure limitations or easements, then, to me, it would not be suitable for my needs or be a “knockdown.” Since a “knockdown” would add considerable $$ and headache to a potential remodel, it would totally justify or may not even be worth its lower asking price . . . to me. IMO, in 92106. you pay for exactly what you get, nothing more, nothing less.

To me, 92106, in and of itself, is not particularly “desireable.” A sit-down dtn SD view from inside the living area makes it so.

[bearishgurl]

[quote=jpinpb] . . . I think there’s still room to drop as the article alludes, especially the high-end. Already seeing some drops in 92106 that I didn’t see last year.[/quote]

. . . jpinpb, I too, saw this when Pigg jstoesz brought this issue up last week on another thread. But even so, I’m sure you’re aware that, in 92106, a property even NEXT DOOR to an extremely desireable property (for my purposes) may not be ANYWHERE NEAR AS DESIRABLE as its neighboring property. It all depends upon lot size, topography of lot, and most of all, the way the structure is facing/tilting towards, as to allow for a possible sit-down SD dtn skyline-view. If the property is situated correctly, but facing towards a lesser view (i.e. Pt. Loma Lighthouse or Sea World) and cannot be remodeled to orient correctly due to land elevation, structure limitations or easements, then, to me, it would not be suitable for my needs or be a “knockdown.” Since a “knockdown” would add considerable $$ and headache to a potential remodel, it would totally justify or may not even be worth its lower asking price . . . to me. IMO, in 92106. you pay for exactly what you get, nothing more, nothing less.

To me, 92106, in and of itself, is not particularly “desireable.” A sit-down dtn SD view from inside the living area makes it so.

[bearishgurl]

[quote=jpinpb] . . . I think there’s still room to drop as the article alludes, especially the high-end. Already seeing some drops in 92106 that I didn’t see last year.[/quote]

. . . jpinpb, I too, saw this when Pigg jstoesz brought this issue up last week on another thread. But even so, I’m sure you’re aware that, in 92106, a property even NEXT DOOR to an extremely desireable property (for my purposes) may not be ANYWHERE NEAR AS DESIRABLE as its neighboring property. It all depends upon lot size, topography of lot, and most of all, the way the structure is facing/tilting towards, as to allow for a possible sit-down SD dtn skyline-view. If the property is situated correctly, but facing towards a lesser view (i.e. Pt. Loma Lighthouse or Sea World) and cannot be remodeled to orient correctly due to land elevation, structure limitations or easements, then, to me, it would not be suitable for my needs or be a “knockdown.” Since a “knockdown” would add considerable $$ and headache to a potential remodel, it would totally justify or may not even be worth its lower asking price . . . to me. IMO, in 92106. you pay for exactly what you get, nothing more, nothing less.

To me, 92106, in and of itself, is not particularly “desireable.” A sit-down dtn SD view from inside the living area makes it so.

[jpinpb]

BG – just going by what I’ve seen last year versus now compared to the bubble price. Not talking about view or fixers. Just noticing the decline in prices in areas that were holding up last year. Some listings were holding on to wish-upon-a-star prices and have had to deal with reality and reduce.

[jpinpb]

BG – just going by what I’ve seen last year versus now compared to the bubble price. Not talking about view or fixers. Just noticing the decline in prices in areas that were holding up last year. Some listings were holding on to wish-upon-a-star prices and have had to deal with reality and reduce.

[jpinpb]

BG – just going by what I’ve seen last year versus now compared to the bubble price. Not talking about view or fixers. Just noticing the decline in prices in areas that were holding up last year. Some listings were holding on to wish-upon-a-star prices and have had to deal with reality and reduce.

[jpinpb]

BG – just going by what I’ve seen last year versus now compared to the bubble price. Not talking about view or fixers. Just noticing the decline in prices in areas that were holding up last year. Some listings were holding on to wish-upon-a-star prices and have had to deal with reality and reduce.

[jpinpb]

BG – just going by what I’ve seen last year versus now compared to the bubble price. Not talking about view or fixers. Just noticing the decline in prices in areas that were holding up last year. Some listings were holding on to wish-upon-a-star prices and have had to deal with reality and reduce.

[bearishgurl]

[quote=jpinpb]BG – just going by what I’ve seen last year versus now compared to the bubble price. Not talking about view or fixers. Just noticing the decline in prices in areas that were holding up last year. Some listings were holding on to wish-upon-a-star prices and have had to deal with reality and reduce.[/quote]

Agreed, but if some of these “reduced” properties had a present or potential “sit-down skyline view” to offer from INSIDE the “living areas” of the home to offer (NOT a “peek” view out a corner bathroom window, lol), they wouldn’t have had to reduce to this degree. In 92106, the value is COMPLETELY DEPENDENT upon the “amenities” of the individual property.

[bearishgurl]

[quote=jpinpb]BG – just going by what I’ve seen last year versus now compared to the bubble price. Not talking about view or fixers. Just noticing the decline in prices in areas that were holding up last year. Some listings were holding on to wish-upon-a-star prices and have had to deal with reality and reduce.[/quote]

Agreed, but if some of these “reduced” properties had a present or potential “sit-down skyline view” to offer from INSIDE the “living areas” of the home to offer (NOT a “peek” view out a corner bathroom window, lol), they wouldn’t have had to reduce to this degree. In 92106, the value is COMPLETELY DEPENDENT upon the “amenities” of the individual property.

[bearishgurl]

[quote=jpinpb]BG – just going by what I’ve seen last year versus now compared to the bubble price. Not talking about view or fixers. Just noticing the decline in prices in areas that were holding up last year. Some listings were holding on to wish-upon-a-star prices and have had to deal with reality and reduce.[/quote]

Agreed, but if some of these “reduced” properties had a present or potential “sit-down skyline view” to offer from INSIDE the “living areas” of the home to offer (NOT a “peek” view out a corner bathroom window, lol), they wouldn’t have had to reduce to this degree. In 92106, the value is COMPLETELY DEPENDENT upon the “amenities” of the individual property.

[bearishgurl]

[quote=jpinpb]BG – just going by what I’ve seen last year versus now compared to the bubble price. Not talking about view or fixers. Just noticing the decline in prices in areas that were holding up last year. Some listings were holding on to wish-upon-a-star prices and have had to deal with reality and reduce.[/quote]

Agreed, but if some of these “reduced” properties had a present or potential “sit-down skyline view” to offer from INSIDE the “living areas” of the home to offer (NOT a “peek” view out a corner bathroom window, lol), they wouldn’t have had to reduce to this degree. In 92106, the value is COMPLETELY DEPENDENT upon the “amenities” of the individual property.

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