How much further will the SD market go down.

[La Jolla Renter]

I agree it sure feels like there are a fair amount of buyers on the sideline. My hunch is that those buyers are going to get even more conservative as the market falls and job security becomes an issue.

The mortgage amount I personally am willing to take on has dropped about 25% over the past year. My future income does not look as good as it did one year ago.

[Deal Hunter]

One thing to wait for is the outcome of the senate bill called, The Foreclosure Prevention Act of 2008. A component of the bill will allow businesses to carry back NOLs (Net Operating Losses) five years instead of the normal 2 years.

The focus of course would be how new home builders would use this new tax incentive in 2008 and 2009? Builders had made such treamendous profits going back as far as 2004 that it is possible for them to “dump” their inventory in 2008 and 2009 just to shave their tax bills from previous years.

This could result in futher plummeting prices for new homes in SD and other areas. That would lead to a lower floor for the home values and more homeowners more upside down.

Hopefully the other component of the bill that gives a tax incentive to homebuyers of $7K to $15K in tax rebates over 2 years for buying an REO, will balance out the fire saling of inventory by the builders. Banks may stick to their prices on REO’s knowing that there are buyers close at hand and the builders won’t have to compete as much.

????????????

[Deal Hunter]

One thing to wait for is the outcome of the senate bill called, The Foreclosure Prevention Act of 2008. A component of the bill will allow businesses to carry back NOLs (Net Operating Losses) five years instead of the normal 2 years.

The focus of course would be how new home builders would use this new tax incentive in 2008 and 2009? Builders had made such treamendous profits going back as far as 2004 that it is possible for them to “dump” their inventory in 2008 and 2009 just to shave their tax bills from previous years.

This could result in futher plummeting prices for new homes in SD and other areas. That would lead to a lower floor for the home values and more homeowners more upside down.

Hopefully the other component of the bill that gives a tax incentive to homebuyers of $7K to $15K in tax rebates over 2 years for buying an REO, will balance out the fire saling of inventory by the builders. Banks may stick to their prices on REO’s knowing that there are buyers close at hand and the builders won’t have to compete as much.

????????????

[Deal Hunter]

One thing to wait for is the outcome of the senate bill called, The Foreclosure Prevention Act of 2008. A component of the bill will allow businesses to carry back NOLs (Net Operating Losses) five years instead of the normal 2 years.

The focus of course would be how new home builders would use this new tax incentive in 2008 and 2009? Builders had made such treamendous profits going back as far as 2004 that it is possible for them to “dump” their inventory in 2008 and 2009 just to shave their tax bills from previous years.

This could result in futher plummeting prices for new homes in SD and other areas. That would lead to a lower floor for the home values and more homeowners more upside down.

Hopefully the other component of the bill that gives a tax incentive to homebuyers of $7K to $15K in tax rebates over 2 years for buying an REO, will balance out the fire saling of inventory by the builders. Banks may stick to their prices on REO’s knowing that there are buyers close at hand and the builders won’t have to compete as much.

????????????

[Deal Hunter]

One thing to wait for is the outcome of the senate bill called, The Foreclosure Prevention Act of 2008. A component of the bill will allow businesses to carry back NOLs (Net Operating Losses) five years instead of the normal 2 years.

The focus of course would be how new home builders would use this new tax incentive in 2008 and 2009? Builders had made such treamendous profits going back as far as 2004 that it is possible for them to “dump” their inventory in 2008 and 2009 just to shave their tax bills from previous years.

This could result in futher plummeting prices for new homes in SD and other areas. That would lead to a lower floor for the home values and more homeowners more upside down.

Hopefully the other component of the bill that gives a tax incentive to homebuyers of $7K to $15K in tax rebates over 2 years for buying an REO, will balance out the fire saling of inventory by the builders. Banks may stick to their prices on REO’s knowing that there are buyers close at hand and the builders won’t have to compete as much.

????????????

[Deal Hunter]

One thing to wait for is the outcome of the senate bill called, The Foreclosure Prevention Act of 2008. A component of the bill will allow businesses to carry back NOLs (Net Operating Losses) five years instead of the normal 2 years.

The focus of course would be how new home builders would use this new tax incentive in 2008 and 2009? Builders had made such treamendous profits going back as far as 2004 that it is possible for them to “dump” their inventory in 2008 and 2009 just to shave their tax bills from previous years.

This could result in futher plummeting prices for new homes in SD and other areas. That would lead to a lower floor for the home values and more homeowners more upside down.

Hopefully the other component of the bill that gives a tax incentive to homebuyers of $7K to $15K in tax rebates over 2 years for buying an REO, will balance out the fire saling of inventory by the builders. Banks may stick to their prices on REO’s knowing that there are buyers close at hand and the builders won’t have to compete as much.

????????????

[Anonymous]

“You think Qualcomm is going to go unscathed from the major pull back in consumer spending????”

Answer: YES

[Anonymous]

“You think Qualcomm is going to go unscathed from the major pull back in consumer spending????”

Answer: YES

[Anonymous]

“You think Qualcomm is going to go unscathed from the major pull back in consumer spending????”

Answer: YES

[Anonymous]

“You think Qualcomm is going to go unscathed from the major pull back in consumer spending????”

Answer: YES

[Anonymous]

“You think Qualcomm is going to go unscathed from the major pull back in consumer spending????”

Answer: YES

[SD Realtor]

Personally I really believe that you need to get more regional to start making predictions about the various submarkets including the bottom of the market and the rate at which it will take to hit that bottom. The areas that you have mentioned, in my opinion have far more downside ahead of them then what they have already experienced. Conversely an area such as Eastlake, I believe has already shed alot of weight and while it will shed more, I feel it is much closer to a bottom then the previous areas. Out of the areas you mentioned I feel SEH is in for the biggest fall in the nearest future.

Here is an example… today I was up in Oceanside visiting a nice couple at the Summit. The news was not good. These people had a 3000 sf home and want to sell it. We looked at the active pending ratios and for homes that were 2700 feet and up there were 24 actives and 1 pending for the entire 92056 zip code. 1 PENDING!!! So this year I expect many neighborhoods to continue falling with strong numbers.

So I think that the answer to your question will hold a little more variance with respect to the amount and the timing of what will happen. For places like Scripps and CV well I am more confounded every day. Recently a SPECULATOR purchased home right around the corner from me just went into escrow. Not good… To me that indicates a slow ride down at least for Scripps…As always if we get a serious disruption in employment or interest rates we will get a more chunkier downfall.

SD Realtor

[SD Realtor]

Personally I really believe that you need to get more regional to start making predictions about the various submarkets including the bottom of the market and the rate at which it will take to hit that bottom. The areas that you have mentioned, in my opinion have far more downside ahead of them then what they have already experienced. Conversely an area such as Eastlake, I believe has already shed alot of weight and while it will shed more, I feel it is much closer to a bottom then the previous areas. Out of the areas you mentioned I feel SEH is in for the biggest fall in the nearest future.

Here is an example… today I was up in Oceanside visiting a nice couple at the Summit. The news was not good. These people had a 3000 sf home and want to sell it. We looked at the active pending ratios and for homes that were 2700 feet and up there were 24 actives and 1 pending for the entire 92056 zip code. 1 PENDING!!! So this year I expect many neighborhoods to continue falling with strong numbers.

So I think that the answer to your question will hold a little more variance with respect to the amount and the timing of what will happen. For places like Scripps and CV well I am more confounded every day. Recently a SPECULATOR purchased home right around the corner from me just went into escrow. Not good… To me that indicates a slow ride down at least for Scripps…As always if we get a serious disruption in employment or interest rates we will get a more chunkier downfall.

SD Realtor

[SD Realtor]

Personally I really believe that you need to get more regional to start making predictions about the various submarkets including the bottom of the market and the rate at which it will take to hit that bottom. The areas that you have mentioned, in my opinion have far more downside ahead of them then what they have already experienced. Conversely an area such as Eastlake, I believe has already shed alot of weight and while it will shed more, I feel it is much closer to a bottom then the previous areas. Out of the areas you mentioned I feel SEH is in for the biggest fall in the nearest future.

Here is an example… today I was up in Oceanside visiting a nice couple at the Summit. The news was not good. These people had a 3000 sf home and want to sell it. We looked at the active pending ratios and for homes that were 2700 feet and up there were 24 actives and 1 pending for the entire 92056 zip code. 1 PENDING!!! So this year I expect many neighborhoods to continue falling with strong numbers.

So I think that the answer to your question will hold a little more variance with respect to the amount and the timing of what will happen. For places like Scripps and CV well I am more confounded every day. Recently a SPECULATOR purchased home right around the corner from me just went into escrow. Not good… To me that indicates a slow ride down at least for Scripps…As always if we get a serious disruption in employment or interest rates we will get a more chunkier downfall.

SD Realtor

[SD Realtor]

Personally I really believe that you need to get more regional to start making predictions about the various submarkets including the bottom of the market and the rate at which it will take to hit that bottom. The areas that you have mentioned, in my opinion have far more downside ahead of them then what they have already experienced. Conversely an area such as Eastlake, I believe has already shed alot of weight and while it will shed more, I feel it is much closer to a bottom then the previous areas. Out of the areas you mentioned I feel SEH is in for the biggest fall in the nearest future.

Here is an example… today I was up in Oceanside visiting a nice couple at the Summit. The news was not good. These people had a 3000 sf home and want to sell it. We looked at the active pending ratios and for homes that were 2700 feet and up there were 24 actives and 1 pending for the entire 92056 zip code. 1 PENDING!!! So this year I expect many neighborhoods to continue falling with strong numbers.

So I think that the answer to your question will hold a little more variance with respect to the amount and the timing of what will happen. For places like Scripps and CV well I am more confounded every day. Recently a SPECULATOR purchased home right around the corner from me just went into escrow. Not good… To me that indicates a slow ride down at least for Scripps…As always if we get a serious disruption in employment or interest rates we will get a more chunkier downfall.

SD Realtor

[Author]

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