How many people are holding houses off the market?

[patientlywaiting]

Agents and owners play games all the time. It’s who blinks first.

I was helping friends find a rental. They have stellar credit and great jobs. The agent was playing hard to get and would not lower the rent (she said she had to submit to owner, have several offers, yada, yada). So they moved on to greener pastures.

Two weeks later the rental is still on the market at a lower rent. The same is happening with house sales. I guess this agent is not getting a Christmas commission check.

[patientlywaiting]

How long do you figure most people can hold out for?

Most homeowners can't afford to lose thousands of dollars each month indefinitely.   It's very expensive to keep a house vacant and in show condition.  

Fall/winter 2008 is when homeowners will begin to give-up in droves.   

 

 

[patientlywaiting]

How long do you figure most people can hold out for?

Most homeowners can't afford to lose thousands of dollars each month indefinitely.   It's very expensive to keep a house vacant and in show condition.  

Fall/winter 2008 is when homeowners will begin to give-up in droves.   

 

 

[patientlywaiting]

How long do you figure most people can hold out for?

Most homeowners can't afford to lose thousands of dollars each month indefinitely.   It's very expensive to keep a house vacant and in show condition.  

Fall/winter 2008 is when homeowners will begin to give-up in droves.   

 

 

[patientlywaiting]

How long do you figure most people can hold out for?

Most homeowners can't afford to lose thousands of dollars each month indefinitely.   It's very expensive to keep a house vacant and in show condition.  

Fall/winter 2008 is when homeowners will begin to give-up in droves.   

 

 

[patientlywaiting]

How long do you figure most people can hold out for?

Most homeowners can't afford to lose thousands of dollars each month indefinitely.   It's very expensive to keep a house vacant and in show condition.  

Fall/winter 2008 is when homeowners will begin to give-up in droves.   

 

 

[DWCAP]

People in La Jolla feel the pain of economic slowdown later than the lower priced areas of SD. Just 1 year ago the NAR was predicting price appreciation at this time. The recient articals in the UT are the first signs to the general public of a REAL problem. Before that, it was all just bad press. It will take time, ie minimum fall ’08, for those in the higher brackets to feel the fear. Right now, a lot of people are waiting for the promised 2008 rebound to sell. Just wait till they realize that jumbo loans +1 over conforming are the norm, and see how many people want to buy. I am no expert, but if the definition of expert is the NAR, than that is a good thing.

[DWCAP]

People in La Jolla feel the pain of economic slowdown later than the lower priced areas of SD. Just 1 year ago the NAR was predicting price appreciation at this time. The recient articals in the UT are the first signs to the general public of a REAL problem. Before that, it was all just bad press. It will take time, ie minimum fall ’08, for those in the higher brackets to feel the fear. Right now, a lot of people are waiting for the promised 2008 rebound to sell. Just wait till they realize that jumbo loans +1 over conforming are the norm, and see how many people want to buy. I am no expert, but if the definition of expert is the NAR, than that is a good thing.

[DWCAP]

People in La Jolla feel the pain of economic slowdown later than the lower priced areas of SD. Just 1 year ago the NAR was predicting price appreciation at this time. The recient articals in the UT are the first signs to the general public of a REAL problem. Before that, it was all just bad press. It will take time, ie minimum fall ’08, for those in the higher brackets to feel the fear. Right now, a lot of people are waiting for the promised 2008 rebound to sell. Just wait till they realize that jumbo loans +1 over conforming are the norm, and see how many people want to buy. I am no expert, but if the definition of expert is the NAR, than that is a good thing.

[DWCAP]

People in La Jolla feel the pain of economic slowdown later than the lower priced areas of SD. Just 1 year ago the NAR was predicting price appreciation at this time. The recient articals in the UT are the first signs to the general public of a REAL problem. Before that, it was all just bad press. It will take time, ie minimum fall ’08, for those in the higher brackets to feel the fear. Right now, a lot of people are waiting for the promised 2008 rebound to sell. Just wait till they realize that jumbo loans +1 over conforming are the norm, and see how many people want to buy. I am no expert, but if the definition of expert is the NAR, than that is a good thing.

[DWCAP]

People in La Jolla feel the pain of economic slowdown later than the lower priced areas of SD. Just 1 year ago the NAR was predicting price appreciation at this time. The recient articals in the UT are the first signs to the general public of a REAL problem. Before that, it was all just bad press. It will take time, ie minimum fall ’08, for those in the higher brackets to feel the fear. Right now, a lot of people are waiting for the promised 2008 rebound to sell. Just wait till they realize that jumbo loans +1 over conforming are the norm, and see how many people want to buy. I am no expert, but if the definition of expert is the NAR, than that is a good thing.

[34f3f3f]

Apparently, during the last downturn that threatened Italy, home owners were so stubborn, they held out and prices were contained. That could all be hearsay of course.

I think this is what a lot of people are waiting for, especially in the higher price bracket. I am not an expert like so many here, but it seems to me the air is thick with tension, as a relentless tug-of-war takes place. The patient waiters will probably win out, because they have less to lose in this. Maybe if there are enough people who want to sell but don’t actually need to, it will have some stabilizing effect, but I see SoCal as a transient place, and people move on, which might explain some of the volatility in the first place.

[34f3f3f]

Apparently, during the last downturn that threatened Italy, home owners were so stubborn, they held out and prices were contained. That could all be hearsay of course.

I think this is what a lot of people are waiting for, especially in the higher price bracket. I am not an expert like so many here, but it seems to me the air is thick with tension, as a relentless tug-of-war takes place. The patient waiters will probably win out, because they have less to lose in this. Maybe if there are enough people who want to sell but don’t actually need to, it will have some stabilizing effect, but I see SoCal as a transient place, and people move on, which might explain some of the volatility in the first place.

[34f3f3f]

Apparently, during the last downturn that threatened Italy, home owners were so stubborn, they held out and prices were contained. That could all be hearsay of course.

I think this is what a lot of people are waiting for, especially in the higher price bracket. I am not an expert like so many here, but it seems to me the air is thick with tension, as a relentless tug-of-war takes place. The patient waiters will probably win out, because they have less to lose in this. Maybe if there are enough people who want to sell but don’t actually need to, it will have some stabilizing effect, but I see SoCal as a transient place, and people move on, which might explain some of the volatility in the first place.

[34f3f3f]

Apparently, during the last downturn that threatened Italy, home owners were so stubborn, they held out and prices were contained. That could all be hearsay of course.

I think this is what a lot of people are waiting for, especially in the higher price bracket. I am not an expert like so many here, but it seems to me the air is thick with tension, as a relentless tug-of-war takes place. The patient waiters will probably win out, because they have less to lose in this. Maybe if there are enough people who want to sell but don’t actually need to, it will have some stabilizing effect, but I see SoCal as a transient place, and people move on, which might explain some of the volatility in the first place.

[Author]

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