North County Coastal Market-Why so sticky?

[CA renter]

Also, how many of those “multiple offers” are being submitted by a fairly small pool of well-qualified buyers. Of the bubble-sitters we know (including ourselves), potential buyers have multiple bids out at any given time. Today’s buyers are definitely smarter, as I see few of them wildly overbidding for these homes. They are much more willing to walk away from a transaction, and while a seller might see many offers, a lot of them are coming in well below list price.

[an]

[quote=CA renter]Also, how many of those “multiple offers” are being submitted by a fairly small pool of well-qualified buyers. Of the bubble-sitters we know (including ourselves), potential buyers have multiple bids out at any given time. Today’s buyers are definitely smarter, as I see few of them wildly overbidding for these homes. They are much more willing to walk away from a transaction, and while a seller might see many offers, a lot of them are coming in well below list price.[/quote]
The pool can’t be that small, or else it would be depleted by now. Why on earth would anyone in their right mind would waste their time submitting a low ball offer in a bidding war?

[an]

[quote=CA renter]Also, how many of those “multiple offers” are being submitted by a fairly small pool of well-qualified buyers. Of the bubble-sitters we know (including ourselves), potential buyers have multiple bids out at any given time. Today’s buyers are definitely smarter, as I see few of them wildly overbidding for these homes. They are much more willing to walk away from a transaction, and while a seller might see many offers, a lot of them are coming in well below list price.[/quote]
The pool can’t be that small, or else it would be depleted by now. Why on earth would anyone in their right mind would waste their time submitting a low ball offer in a bidding war?

[an]

[quote=CA renter]Also, how many of those “multiple offers” are being submitted by a fairly small pool of well-qualified buyers. Of the bubble-sitters we know (including ourselves), potential buyers have multiple bids out at any given time. Today’s buyers are definitely smarter, as I see few of them wildly overbidding for these homes. They are much more willing to walk away from a transaction, and while a seller might see many offers, a lot of them are coming in well below list price.[/quote]
The pool can’t be that small, or else it would be depleted by now. Why on earth would anyone in their right mind would waste their time submitting a low ball offer in a bidding war?

[an]

[quote=CA renter]Also, how many of those “multiple offers” are being submitted by a fairly small pool of well-qualified buyers. Of the bubble-sitters we know (including ourselves), potential buyers have multiple bids out at any given time. Today’s buyers are definitely smarter, as I see few of them wildly overbidding for these homes. They are much more willing to walk away from a transaction, and while a seller might see many offers, a lot of them are coming in well below list price.[/quote]
The pool can’t be that small, or else it would be depleted by now. Why on earth would anyone in their right mind would waste their time submitting a low ball offer in a bidding war?

[an]

[quote=CA renter]Also, how many of those “multiple offers” are being submitted by a fairly small pool of well-qualified buyers. Of the bubble-sitters we know (including ourselves), potential buyers have multiple bids out at any given time. Today’s buyers are definitely smarter, as I see few of them wildly overbidding for these homes. They are much more willing to walk away from a transaction, and while a seller might see many offers, a lot of them are coming in well below list price.[/quote]
The pool can’t be that small, or else it would be depleted by now. Why on earth would anyone in their right mind would waste their time submitting a low ball offer in a bidding war?

[sdrealtor]

I always expected the massive gov’t intervention and never gave much thought to what would happen without because in my mind that was a fairy tale. I agree it is happening everywhere but dont agree on the level of distress being as high here as elsewhere. I see nicer cars in lower end areas and pretty much everyone I know around here is very fiscally conservative. Alot of the upgraded homes were purchased long ago at prices a fraction of where we are now. Pulling $50 to 100K out of homes like that still leave LTV’s under 50%. Whenever I look at loan balances on any given street around here I see far more limited levels of potential distress than you would want to beleive. Hard as it may be to beleive, the vast majority of your neighbors are just as responsible as you are.

[sdrealtor]

I always expected the massive gov’t intervention and never gave much thought to what would happen without because in my mind that was a fairy tale. I agree it is happening everywhere but dont agree on the level of distress being as high here as elsewhere. I see nicer cars in lower end areas and pretty much everyone I know around here is very fiscally conservative. Alot of the upgraded homes were purchased long ago at prices a fraction of where we are now. Pulling $50 to 100K out of homes like that still leave LTV’s under 50%. Whenever I look at loan balances on any given street around here I see far more limited levels of potential distress than you would want to beleive. Hard as it may be to beleive, the vast majority of your neighbors are just as responsible as you are.

[sdrealtor]

I always expected the massive gov’t intervention and never gave much thought to what would happen without because in my mind that was a fairy tale. I agree it is happening everywhere but dont agree on the level of distress being as high here as elsewhere. I see nicer cars in lower end areas and pretty much everyone I know around here is very fiscally conservative. Alot of the upgraded homes were purchased long ago at prices a fraction of where we are now. Pulling $50 to 100K out of homes like that still leave LTV’s under 50%. Whenever I look at loan balances on any given street around here I see far more limited levels of potential distress than you would want to beleive. Hard as it may be to beleive, the vast majority of your neighbors are just as responsible as you are.

[sdrealtor]

I always expected the massive gov’t intervention and never gave much thought to what would happen without because in my mind that was a fairy tale. I agree it is happening everywhere but dont agree on the level of distress being as high here as elsewhere. I see nicer cars in lower end areas and pretty much everyone I know around here is very fiscally conservative. Alot of the upgraded homes were purchased long ago at prices a fraction of where we are now. Pulling $50 to 100K out of homes like that still leave LTV’s under 50%. Whenever I look at loan balances on any given street around here I see far more limited levels of potential distress than you would want to beleive. Hard as it may be to beleive, the vast majority of your neighbors are just as responsible as you are.

[sdrealtor]

I always expected the massive gov’t intervention and never gave much thought to what would happen without because in my mind that was a fairy tale. I agree it is happening everywhere but dont agree on the level of distress being as high here as elsewhere. I see nicer cars in lower end areas and pretty much everyone I know around here is very fiscally conservative. Alot of the upgraded homes were purchased long ago at prices a fraction of where we are now. Pulling $50 to 100K out of homes like that still leave LTV’s under 50%. Whenever I look at loan balances on any given street around here I see far more limited levels of potential distress than you would want to beleive. Hard as it may be to beleive, the vast majority of your neighbors are just as responsible as you are.

[sdrealtor]

The multiple offers I see are being submitted by a pack of buyers who move from property to property. They bid when one comes up but most buyers only see one or two houses per month that interest at most. All the while the pack grows faster than it gets depleted.

[sdrealtor]

The multiple offers I see are being submitted by a pack of buyers who move from property to property. They bid when one comes up but most buyers only see one or two houses per month that interest at most. All the while the pack grows faster than it gets depleted.

[sdrealtor]

The multiple offers I see are being submitted by a pack of buyers who move from property to property. They bid when one comes up but most buyers only see one or two houses per month that interest at most. All the while the pack grows faster than it gets depleted.

[sdrealtor]

The multiple offers I see are being submitted by a pack of buyers who move from property to property. They bid when one comes up but most buyers only see one or two houses per month that interest at most. All the while the pack grows faster than it gets depleted.

[Author]

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