Is 25 – 30% off a good deal?

[Jumby]

I deal with foreign investors that are licking their chops for 50% off in S FL, but like I said before; it’s only happened once so far and that was for 6 units (condos).

I know the auctioneer that did the auction for the Ft Myers condos that sold for 50% off, he is based right out of S FL, but Ft Myers IS NOT S FL.

I do recoginze prices are dropping fast just like So Cal, we will get hit very hard before it’s all said and done.

I’m looking forward to this playing out….

[4plexowner]

“Sales of previously owned homes in the US hit their lowest level since 1999”

http://www.msnbc.msn.com/id/22011507/

is there a correlation between the rate of sales and prices?

can we sell houses at a 1999 rate but maintain 2001-2003 prices?

esmith or Alex_Angel – care to chime in on this one?

~

economics books say that prices are a function of supply and demand – if demand drops (which could be evidenced by a slower rate of sales) but supply remains the same, the textbooks say that prices will drop

in San Diego we have demand dropping (or at least a slower rate of sales) at the same time that supply is increasing (as indicated by the MLS) – textbooks would indicate that prices have nowhere to go but down

[4plexowner]

“Sales of previously owned homes in the US hit their lowest level since 1999”

http://www.msnbc.msn.com/id/22011507/

is there a correlation between the rate of sales and prices?

can we sell houses at a 1999 rate but maintain 2001-2003 prices?

esmith or Alex_Angel – care to chime in on this one?

~

economics books say that prices are a function of supply and demand – if demand drops (which could be evidenced by a slower rate of sales) but supply remains the same, the textbooks say that prices will drop

in San Diego we have demand dropping (or at least a slower rate of sales) at the same time that supply is increasing (as indicated by the MLS) – textbooks would indicate that prices have nowhere to go but down

[4plexowner]

“Sales of previously owned homes in the US hit their lowest level since 1999”

http://www.msnbc.msn.com/id/22011507/

is there a correlation between the rate of sales and prices?

can we sell houses at a 1999 rate but maintain 2001-2003 prices?

esmith or Alex_Angel – care to chime in on this one?

~

economics books say that prices are a function of supply and demand – if demand drops (which could be evidenced by a slower rate of sales) but supply remains the same, the textbooks say that prices will drop

in San Diego we have demand dropping (or at least a slower rate of sales) at the same time that supply is increasing (as indicated by the MLS) – textbooks would indicate that prices have nowhere to go but down

[4plexowner]

“Sales of previously owned homes in the US hit their lowest level since 1999”

http://www.msnbc.msn.com/id/22011507/

is there a correlation between the rate of sales and prices?

can we sell houses at a 1999 rate but maintain 2001-2003 prices?

esmith or Alex_Angel – care to chime in on this one?

~

economics books say that prices are a function of supply and demand – if demand drops (which could be evidenced by a slower rate of sales) but supply remains the same, the textbooks say that prices will drop

in San Diego we have demand dropping (or at least a slower rate of sales) at the same time that supply is increasing (as indicated by the MLS) – textbooks would indicate that prices have nowhere to go but down

[4plexowner]

“Sales of previously owned homes in the US hit their lowest level since 1999”

http://www.msnbc.msn.com/id/22011507/

is there a correlation between the rate of sales and prices?

can we sell houses at a 1999 rate but maintain 2001-2003 prices?

esmith or Alex_Angel – care to chime in on this one?

~

economics books say that prices are a function of supply and demand – if demand drops (which could be evidenced by a slower rate of sales) but supply remains the same, the textbooks say that prices will drop

in San Diego we have demand dropping (or at least a slower rate of sales) at the same time that supply is increasing (as indicated by the MLS) – textbooks would indicate that prices have nowhere to go but down

[4plexowner]

http://thehousingbubbleblog.com/?p=3794

4th item on the page starts “The Voice of San Diego”:

“Looking at data on the region’s MLS on Tuesday afternoon, Wilson said the listings that have closed escrow in November represent just 5 percent of the total properties listed for sale. ‘That number is beyond scary,’ he said. ‘When you have such low (sales) numbers, prices can only drop.’”

“Thornberg said a region’s markets are inextricably linked. Dropping prices in an inland market pulls demand from the subsequent markets all the way to the coast. And decreased demand will lower those other markets’ prices.”

“‘[Realtors] were telling us everything was fine, but now they’re telling us all real estate is local,’ Thornberg said. ‘But when are you going to stop believing the [expletive]? The reality is your house is not worth as much as you think it is.’”

[4plexowner]

http://thehousingbubbleblog.com/?p=3794

4th item on the page starts “The Voice of San Diego”:

“Looking at data on the region’s MLS on Tuesday afternoon, Wilson said the listings that have closed escrow in November represent just 5 percent of the total properties listed for sale. ‘That number is beyond scary,’ he said. ‘When you have such low (sales) numbers, prices can only drop.’”

“Thornberg said a region’s markets are inextricably linked. Dropping prices in an inland market pulls demand from the subsequent markets all the way to the coast. And decreased demand will lower those other markets’ prices.”

“‘[Realtors] were telling us everything was fine, but now they’re telling us all real estate is local,’ Thornberg said. ‘But when are you going to stop believing the [expletive]? The reality is your house is not worth as much as you think it is.’”

[4plexowner]

http://thehousingbubbleblog.com/?p=3794

4th item on the page starts “The Voice of San Diego”:

“Looking at data on the region’s MLS on Tuesday afternoon, Wilson said the listings that have closed escrow in November represent just 5 percent of the total properties listed for sale. ‘That number is beyond scary,’ he said. ‘When you have such low (sales) numbers, prices can only drop.’”

“Thornberg said a region’s markets are inextricably linked. Dropping prices in an inland market pulls demand from the subsequent markets all the way to the coast. And decreased demand will lower those other markets’ prices.”

“‘[Realtors] were telling us everything was fine, but now they’re telling us all real estate is local,’ Thornberg said. ‘But when are you going to stop believing the [expletive]? The reality is your house is not worth as much as you think it is.’”

[4plexowner]

http://thehousingbubbleblog.com/?p=3794

4th item on the page starts “The Voice of San Diego”:

“Looking at data on the region’s MLS on Tuesday afternoon, Wilson said the listings that have closed escrow in November represent just 5 percent of the total properties listed for sale. ‘That number is beyond scary,’ he said. ‘When you have such low (sales) numbers, prices can only drop.’”

“Thornberg said a region’s markets are inextricably linked. Dropping prices in an inland market pulls demand from the subsequent markets all the way to the coast. And decreased demand will lower those other markets’ prices.”

“‘[Realtors] were telling us everything was fine, but now they’re telling us all real estate is local,’ Thornberg said. ‘But when are you going to stop believing the [expletive]? The reality is your house is not worth as much as you think it is.’”

[4plexowner]

http://thehousingbubbleblog.com/?p=3794

4th item on the page starts “The Voice of San Diego”:

“Looking at data on the region’s MLS on Tuesday afternoon, Wilson said the listings that have closed escrow in November represent just 5 percent of the total properties listed for sale. ‘That number is beyond scary,’ he said. ‘When you have such low (sales) numbers, prices can only drop.’”

“Thornberg said a region’s markets are inextricably linked. Dropping prices in an inland market pulls demand from the subsequent markets all the way to the coast. And decreased demand will lower those other markets’ prices.”

“‘[Realtors] were telling us everything was fine, but now they’re telling us all real estate is local,’ Thornberg said. ‘But when are you going to stop believing the [expletive]? The reality is your house is not worth as much as you think it is.’”

[34f3f3f]

But if I could work on the computer from anywhere in the world, I wouldn’t live in San Diego. I would rent somewhere in South America (like Rio) and hang out there for a while. Then I’d move on to Southern Europe (perhaps Italy or Croatia). There are so many great places in the world which are very nice and cheaper than San Diego (Tahiti, Virgin Islands, Fiji, Srilanka, Madagascar, etc…) For $4000/month I could lead an idyllic life overseas.

Last year I made a trip to Croatia to explore this possibility, and this year to Italy. Italy wins hands down for sheer beauty and life style but Croatia wins on price. Trouble is with the dollar being so weak (and with a potential collapse on the horizon), Europe has become much more expensive, which for many things it already is anyway. The other places I can’t speak for except to say some places may require visas. I came to the conclusion that Hawaii offers a lot of what I want, and although rentals are probably the same as California, at least its currency is the dollar, language is (mostly) English, and the adjustment won’t be horrific. Can’t think of a nicer hassle free place to sit this correction out. Any tips welcome!

[34f3f3f]

But if I could work on the computer from anywhere in the world, I wouldn’t live in San Diego. I would rent somewhere in South America (like Rio) and hang out there for a while. Then I’d move on to Southern Europe (perhaps Italy or Croatia). There are so many great places in the world which are very nice and cheaper than San Diego (Tahiti, Virgin Islands, Fiji, Srilanka, Madagascar, etc…) For $4000/month I could lead an idyllic life overseas.

Last year I made a trip to Croatia to explore this possibility, and this year to Italy. Italy wins hands down for sheer beauty and life style but Croatia wins on price. Trouble is with the dollar being so weak (and with a potential collapse on the horizon), Europe has become much more expensive, which for many things it already is anyway. The other places I can’t speak for except to say some places may require visas. I came to the conclusion that Hawaii offers a lot of what I want, and although rentals are probably the same as California, at least its currency is the dollar, language is (mostly) English, and the adjustment won’t be horrific. Can’t think of a nicer hassle free place to sit this correction out. Any tips welcome!

[34f3f3f]

But if I could work on the computer from anywhere in the world, I wouldn’t live in San Diego. I would rent somewhere in South America (like Rio) and hang out there for a while. Then I’d move on to Southern Europe (perhaps Italy or Croatia). There are so many great places in the world which are very nice and cheaper than San Diego (Tahiti, Virgin Islands, Fiji, Srilanka, Madagascar, etc…) For $4000/month I could lead an idyllic life overseas.

Last year I made a trip to Croatia to explore this possibility, and this year to Italy. Italy wins hands down for sheer beauty and life style but Croatia wins on price. Trouble is with the dollar being so weak (and with a potential collapse on the horizon), Europe has become much more expensive, which for many things it already is anyway. The other places I can’t speak for except to say some places may require visas. I came to the conclusion that Hawaii offers a lot of what I want, and although rentals are probably the same as California, at least its currency is the dollar, language is (mostly) English, and the adjustment won’t be horrific. Can’t think of a nicer hassle free place to sit this correction out. Any tips welcome!

[34f3f3f]

But if I could work on the computer from anywhere in the world, I wouldn’t live in San Diego. I would rent somewhere in South America (like Rio) and hang out there for a while. Then I’d move on to Southern Europe (perhaps Italy or Croatia). There are so many great places in the world which are very nice and cheaper than San Diego (Tahiti, Virgin Islands, Fiji, Srilanka, Madagascar, etc…) For $4000/month I could lead an idyllic life overseas.

Last year I made a trip to Croatia to explore this possibility, and this year to Italy. Italy wins hands down for sheer beauty and life style but Croatia wins on price. Trouble is with the dollar being so weak (and with a potential collapse on the horizon), Europe has become much more expensive, which for many things it already is anyway. The other places I can’t speak for except to say some places may require visas. I came to the conclusion that Hawaii offers a lot of what I want, and although rentals are probably the same as California, at least its currency is the dollar, language is (mostly) English, and the adjustment won’t be horrific. Can’t think of a nicer hassle free place to sit this correction out. Any tips welcome!

[Author]

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