How much further will the SD market go down.

[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

[CA renter]

Like SD Realtor said, the lower end has already shaved off 40-50%+ in many areas, and is very close to breaking even for investment purposes — if we could be sure that rents won’t go down in the near future.

The higher-end areas were pushed up by loose lending in the lower end — a number of people could sell their starter homes for a $300K++ profit and buy a house in CV with another neg-am liar loan, etc. They have an equity cushion (the down payments from sales of the starter homes) that the starter market didn’t have because the starter homes were purchased with 100% LTV loans, for the most part.

IMHO, the huge declines are pretty much over for the lower end (still expecting some drops for awhile, though) and now we will begin to see the drops in the higher end. I think 2008-2010 will bring dramatic drops in the higher-end areas, because fewer people will be able to bring those huge down payments from the starter homes. We have to wait out the resets, “above-water” sales, and refis enabled by the equity cushion they have.

[CA renter]

Like SD Realtor said, the lower end has already shaved off 40-50%+ in many areas, and is very close to breaking even for investment purposes — if we could be sure that rents won’t go down in the near future.

The higher-end areas were pushed up by loose lending in the lower end — a number of people could sell their starter homes for a $300K++ profit and buy a house in CV with another neg-am liar loan, etc. They have an equity cushion (the down payments from sales of the starter homes) that the starter market didn’t have because the starter homes were purchased with 100% LTV loans, for the most part.

IMHO, the huge declines are pretty much over for the lower end (still expecting some drops for awhile, though) and now we will begin to see the drops in the higher end. I think 2008-2010 will bring dramatic drops in the higher-end areas, because fewer people will be able to bring those huge down payments from the starter homes. We have to wait out the resets, “above-water” sales, and refis enabled by the equity cushion they have.

[CA renter]

Like SD Realtor said, the lower end has already shaved off 40-50%+ in many areas, and is very close to breaking even for investment purposes — if we could be sure that rents won’t go down in the near future.

The higher-end areas were pushed up by loose lending in the lower end — a number of people could sell their starter homes for a $300K++ profit and buy a house in CV with another neg-am liar loan, etc. They have an equity cushion (the down payments from sales of the starter homes) that the starter market didn’t have because the starter homes were purchased with 100% LTV loans, for the most part.

IMHO, the huge declines are pretty much over for the lower end (still expecting some drops for awhile, though) and now we will begin to see the drops in the higher end. I think 2008-2010 will bring dramatic drops in the higher-end areas, because fewer people will be able to bring those huge down payments from the starter homes. We have to wait out the resets, “above-water” sales, and refis enabled by the equity cushion they have.

[CA renter]

Like SD Realtor said, the lower end has already shaved off 40-50%+ in many areas, and is very close to breaking even for investment purposes — if we could be sure that rents won’t go down in the near future.

The higher-end areas were pushed up by loose lending in the lower end — a number of people could sell their starter homes for a $300K++ profit and buy a house in CV with another neg-am liar loan, etc. They have an equity cushion (the down payments from sales of the starter homes) that the starter market didn’t have because the starter homes were purchased with 100% LTV loans, for the most part.

IMHO, the huge declines are pretty much over for the lower end (still expecting some drops for awhile, though) and now we will begin to see the drops in the higher end. I think 2008-2010 will bring dramatic drops in the higher-end areas, because fewer people will be able to bring those huge down payments from the starter homes. We have to wait out the resets, “above-water” sales, and refis enabled by the equity cushion they have.

[CA renter]

Like SD Realtor said, the lower end has already shaved off 40-50%+ in many areas, and is very close to breaking even for investment purposes — if we could be sure that rents won’t go down in the near future.

The higher-end areas were pushed up by loose lending in the lower end — a number of people could sell their starter homes for a $300K++ profit and buy a house in CV with another neg-am liar loan, etc. They have an equity cushion (the down payments from sales of the starter homes) that the starter market didn’t have because the starter homes were purchased with 100% LTV loans, for the most part.

IMHO, the huge declines are pretty much over for the lower end (still expecting some drops for awhile, though) and now we will begin to see the drops in the higher end. I think 2008-2010 will bring dramatic drops in the higher-end areas, because fewer people will be able to bring those huge down payments from the starter homes. We have to wait out the resets, “above-water” sales, and refis enabled by the equity cushion they have.

[jimmyle]

I am very much anxious to buy but I think we still have a major recession to go through before we are near the bottom.

[jimmyle]

I am very much anxious to buy but I think we still have a major recession to go through before we are near the bottom.

[jimmyle]

I am very much anxious to buy but I think we still have a major recession to go through before we are near the bottom.

[jimmyle]

I am very much anxious to buy but I think we still have a major recession to go through before we are near the bottom.

[jimmyle]

I am very much anxious to buy but I think we still have a major recession to go through before we are near the bottom.

[5yearwaiter]

Anyone who believes this site’s future vision(astrology) they should also keep in faith that SD prices are falling to 38%(including CV, 4S or whatever you all in concern). The time is also not that much far and it is the matter of that new bill(big mistake of another to happen) and then we experience an ache(don’t know which way that errupts) but finally we all going to see a free (not even a controlled manner) fall until 38% reach compare to 2003 prices prices scale.

5yearswaiter

[5yearwaiter]

Anyone who believes this site’s future vision(astrology) they should also keep in faith that SD prices are falling to 38%(including CV, 4S or whatever you all in concern). The time is also not that much far and it is the matter of that new bill(big mistake of another to happen) and then we experience an ache(don’t know which way that errupts) but finally we all going to see a free (not even a controlled manner) fall until 38% reach compare to 2003 prices prices scale.

5yearswaiter

[5yearwaiter]

Anyone who believes this site’s future vision(astrology) they should also keep in faith that SD prices are falling to 38%(including CV, 4S or whatever you all in concern). The time is also not that much far and it is the matter of that new bill(big mistake of another to happen) and then we experience an ache(don’t know which way that errupts) but finally we all going to see a free (not even a controlled manner) fall until 38% reach compare to 2003 prices prices scale.

5yearswaiter

[5yearwaiter]

Anyone who believes this site’s future vision(astrology) they should also keep in faith that SD prices are falling to 38%(including CV, 4S or whatever you all in concern). The time is also not that much far and it is the matter of that new bill(big mistake of another to happen) and then we experience an ache(don’t know which way that errupts) but finally we all going to see a free (not even a controlled manner) fall until 38% reach compare to 2003 prices prices scale.

5yearswaiter

[Author]

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