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July 20, 2012 at 9:35 AM #748528July 20, 2012 at 9:42 AM #748533
sdrealtor
ParticipantThe challenge is in the face of constricted inventory the herd is swelling not moving on. I sucks to be a buyer these days. I have well qualified buyers with big down payments who would be happy to buy a nice home at current fair market value if they could. I just dont see it get much easier anytime soon. Good help, persistence and most importantly patience is what has and will continue to win the day.
July 20, 2012 at 9:45 AM #748534Participant[quote=JohnAlt91941][quote=sdrealtor]I guess these people dont exist all of whom wrote offers on some of my listings in the last 30 days
1. Wealthy venture capitalist buying house for daughter as wedding gift
2. Retiree moved her from cold weather climate
3. Father died, inherited a nice amount
4. Sold business and retired at 40
5. Selling longtime primary residence and moving to smaller house by the beachI’m just getting started but if I took the time to go back and check I’m sure I ccould find 20 or 30 other categories of buyers who dont exist[/quote]
“Sis Boom Bah, Rah Rah Rah!”[/quote]
Nice rebuttal dumbass
I’m not, never have been and never will be a cheerleader. Well actually once but it was a bit embarressing wearing a skirt for a Daddy-Daughter Dance at one of her recitals. Glad that episode is in the rear view mirror.
July 20, 2012 at 10:37 AM #748545
CoronitaParticipant[quote=birmingplumb]Thought you guys would correct this “error” for lack of a better term and get a kick out of this. Motown, and oh by the way,I want to thank anyone who pays taxes for saving the middle class in Detroit. Now we can send our tax monies to help other States if need be, and wait till the new Ford Fusion arrives. How did the cars get so good so fast?Motown[/quote]
Hijack. The fusion is made in Mexico (for now). So it ain’t helping detroit (yet)
July 20, 2012 at 11:11 AM #748551Anonymous
Guest[quote=sdrealtor]I guess these people dont exist all of whom wrote offers on some of my listings in the last 30 days
1. Wealthy venture capitalist buying house for daughter as wedding gift
2. Retiree moved her from cold weather climate
3. Father died, inherited a nice amount
4. Sold business and retired at 40
5. Selling longtime primary residence and moving to smaller house by the beachI’m just getting started but if I took the time to go back and check I’m sure I ccould find 20 or 30 other categories of buyers who dont exist[/quote]
As many real estate deals you’ve got going on I don’t understand how you have time to sit around on Piggington all day long, every day.
July 20, 2012 at 11:50 AM #748553ParticipantTechnology!
I built my business to take advantage of what I knew was coming and put systems in place to leverage technology and a couple contracted helpers. Once I list a short sale there isnt much for me to do other than move docs around via fax/email and take phone calls. Offers roll in and I see all kinds of buyers who are out there pleading their case to us. I have someone who handles all the lender negotiations for me and he has for the last 4 years across about 100 deals. I could do that part of the business from the beach.
BTW I dont sit around all day. I’m always on the move running in and out. But the first thing I do when I get back to my home office is sit down at the computer move some docs around and play with my piggies.
July 20, 2012 at 12:02 PM #748554GuestI know, just giving you a hard time
July 20, 2012 at 12:19 PM #748556
svelteParticipant[quote=flu][quote=birmingplumb]Thought you guys would correct this “error” for lack of a better term and get a kick out of this. Motown, and oh by the way,I want to thank anyone who pays taxes for saving the middle class in Detroit. Now we can send our tax monies to help other States if need be, and wait till the new Ford Fusion arrives. How did the cars get so good so fast?Motown[/quote]
Hijack. The fusion is made in Mexico (for now). So it ain’t helping detroit (yet)[/quote]
Where do you think profits from the sale of a Fusion go?
Side note – had a rental 2011 Fusion recently and really liked it. I can see why they are so popular. I wouldn’t call it an exciting car, but it is a car that does everything it is asked to do very well…handled four ppl and all our luggage in comfort. Which is what most people are looking for.
July 20, 2012 at 1:05 PM #748561CoronitaParticipantHijack. The fusion is made in Mexico (for now). So it ain’t helping detroit (yet)[/quote]
[quote]
Where do you think profits from the sale of a Fusion go?
[/quote]The CEO, the unions, marketing/sales expense to beef up sales in Europe where Ford just lost a handlful, and in Asia, where Ford isn’t as successful as GM…Oh yes, to a much lesser extend, regular employees in terms of creating more jobs in america.
[quote]
Side note – had a rental 2011 Fusion recently and really liked it. I can see why they are so popular. I wouldn’t call it an exciting car, but it is a car that does everything it is asked to do very well…handled four ppl and all our luggage in comfort. Which is what most people are looking for.[/quote]Don’t get me wrong. I really like the new Fusion. But it ain’t made in detroit (yet)
July 20, 2012 at 3:47 PM #748580ParticipantWell sick is the right word but not as the author intended. I just checked listings in my community of over 1,000 homes. There are usually 15 to 20 homes on the market at all times. The most that were ever on the market was about 35. Even in the craziest time of the market in late 2003/early 2004 there were always 5 to 10 actives. Today there is one house on the market. The house has 10 ft of backyard and a 6 lane road behind it making it the hardest to sell location in our community even tougher than under powerlines. Inventory is essentially zero.
Here’s another data point. Went out with new clients last week who are looking up to mid 700’s in CV (not likely for what they want) but very doable in PQ, Scripps or 4S areas. After learning their likes/dislikes on Tuesday I sent them 5 houses that had been listed in the last day or two. Today four of the 5 are in escrow.
Additionally in the last 24 hours I have gotten calls on every short sale listing I have from agents with buyers wanting to submit back up offers.
It’s on!July 20, 2012 at 3:51 PM #748581Guest[quote=sdrealtor]Well sick is the right word but not as the author intended. I just checked listings in my community of over 1,000 homes. There are usually 15 to 20 homes on the market at all times. The most that were ever on the market was about 35. Even in the craziest time of the market in late 2003/early 2004 there were always 5 to 10 actives. Today there is one house on the market. The house has 10 ft of backyard and a 6 lane road behind it making it the hardest to sell location in our community even tougher than under powerlines. Inventory is essentially zero.
Here’s another data point. Went out with new clients last week who are looking up to mid 700’s in CV (not likely for what they want) but very doable in PQ, Scripps or 4S areas. After learning their likes/dislikes on Tuesday I sent them 5 houses that had been listed in the last day or two. Today four of the 5 are in escrow.
Additionally in the last 24 hours I have gotten calls on every short sale listing I have from agents with buyers wanting to submit back up offers.
It’s on![/quote]Well that’s what happens when there is an unusually low supply and interest rates are at all time lows. But, don’t get too excited, let’s see how long this lasts. Bigger picture, how will the SD housing market weather the looming defense cuts? It could get ugly, a la early 90s. Anyone who thinks San Diego is not reliant on DoD spending is fooling themselves.
July 20, 2012 at 4:23 PM #748586ParticipantNot an expert on this but seem to remember a few things about SD being one of the places defense jobs get consolidated into as well as some major contracts that are coming here also.
Also just one lonely data point but in over 10 years in this business I cant think of 5 buyers or sellers that I ran into related to the DoD jobs. I guess it must be an artifact of where most of my business takes me and doesnt take me.
I also dont think there is a chance of a 1990 repeat. Back them 30K jobs disappeared almost over night. Therent any employers big enough for that to happen here. It was also pre biotech/pharma/software/telcom explosions that have taken hold since the late 1990s. Its different this time.
July 20, 2012 at 4:24 PM #748587dumbrenter
Participant[quote=deadzone]Well that’s what happens when there is an unusually low supply and interest rates are at all time lows. But, don’t get too excited, let’s see how long this lasts. Bigger picture, how will the SD housing market weather the looming defense cuts? It could get ugly, a la early 90s. Anyone who thinks San Diego is not reliant on DoD spending is fooling themselves.[/quote]
One look at the to 10 employers in San Diego county makes that very clear. With the exception of Sharp and the big-Q (which by the way don’t even make it to top 5), everybody else is either DoD, or state/county/city or university. I was surprised to find San Diego Unified in the top 5 employers.
This city sucks on government tits more than any, except DC of course.
Wonder what happens if/when these government jobs go away.
July 20, 2012 at 4:40 PM #748588Guest[quote=sdrealtor]Not an expert on this but seem to remember a few things about SD being one of the places defense jobs get consolidated into as well as some major contracts that are coming here also.
Also just one lonely data point but in over 10 years in this business I cant think of 5 buyers or sellers that I ran into related to the DoD jobs. I guess it must be an artifact of where most of my business takes me and doesnt take me.
I also dont think there is a chance of a 1990 repeat. Back them 30K jobs disappeared almost over night. Therent any employers big enough for that to happen here. It was also pre biotech/pharma/software/telcom explosions that have taken hold since the late 1990s. Its different this time.[/quote]
Some consolidation may happen in San Diego’s favor, or it may not. But if the sequestration happens, that will be across the board cuts.
Considering DoD is by far the largest employer in San Diego county, hard to belive you have had no dealings with DoD related people.
July 20, 2012 at 4:40 PM #748589ParticipantI would think government is major employer most places. Its the DoD we were addressing. I dont think we will see 5,000 job cuts at UCSD, County of SD, City of SD, Sharp, Scripps, Kaiser, SDSU, SD Unified or QCOM which would represent a 20 to 70% job cut. The economy here is too many small employers for any to have the kind of impact we saw with Corvair and Gen Dyn.
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