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February 9, 2010 at 6:07 PM #512342February 9, 2010 at 6:07 PM #511434sdrealtorParticipant
About 500 homes have been selling per year in 92024 and I think the number should be around 800. I beleive thats about 1200 pent up sales or about 1.5 years just like the larger area I mentioned.
I’ll feel better when the Dow drops below 9000;)
February 9, 2010 at 6:07 PM #511580sdrealtorParticipantAbout 500 homes have been selling per year in 92024 and I think the number should be around 800. I beleive thats about 1200 pent up sales or about 1.5 years just like the larger area I mentioned.
I’ll feel better when the Dow drops below 9000;)
February 9, 2010 at 6:07 PM #511993sdrealtorParticipantAbout 500 homes have been selling per year in 92024 and I think the number should be around 800. I beleive thats about 1200 pent up sales or about 1.5 years just like the larger area I mentioned.
I’ll feel better when the Dow drops below 9000;)
February 9, 2010 at 6:07 PM #512088sdrealtorParticipantAbout 500 homes have been selling per year in 92024 and I think the number should be around 800. I beleive thats about 1200 pent up sales or about 1.5 years just like the larger area I mentioned.
I’ll feel better when the Dow drops below 9000;)
February 9, 2010 at 6:07 PM #512337sdrealtorParticipantAbout 500 homes have been selling per year in 92024 and I think the number should be around 800. I beleive thats about 1200 pent up sales or about 1.5 years just like the larger area I mentioned.
I’ll feel better when the Dow drops below 9000;)
February 9, 2010 at 6:19 PM #511454sdrealtorParticipantArtificially is probably the wrong word and undervalued is more appropriate. I bought my first place (4BR 1600 sq ft townhouse)in 1997 with either 5% or 10% down (honestly cant remember). It was less than 20K down and that was not difficult to come by. My PITI were about rent value and it was a slam dunk with the tax benefits. I remember looking at run down shacks a block from Moonlight Beach for under 300K and they seemed like a steal. I didnt want to raise a family there so I didnt buy one.
There may have been flippers in O’side in 1997 and 1998 which wouldnt surprise me given all the VA loans going bad and turning into HUD homes. There werent flippers to any extent around here which is what we were talking about on this thread.
February 9, 2010 at 6:19 PM #511600sdrealtorParticipantArtificially is probably the wrong word and undervalued is more appropriate. I bought my first place (4BR 1600 sq ft townhouse)in 1997 with either 5% or 10% down (honestly cant remember). It was less than 20K down and that was not difficult to come by. My PITI were about rent value and it was a slam dunk with the tax benefits. I remember looking at run down shacks a block from Moonlight Beach for under 300K and they seemed like a steal. I didnt want to raise a family there so I didnt buy one.
There may have been flippers in O’side in 1997 and 1998 which wouldnt surprise me given all the VA loans going bad and turning into HUD homes. There werent flippers to any extent around here which is what we were talking about on this thread.
February 9, 2010 at 6:19 PM #512013sdrealtorParticipantArtificially is probably the wrong word and undervalued is more appropriate. I bought my first place (4BR 1600 sq ft townhouse)in 1997 with either 5% or 10% down (honestly cant remember). It was less than 20K down and that was not difficult to come by. My PITI were about rent value and it was a slam dunk with the tax benefits. I remember looking at run down shacks a block from Moonlight Beach for under 300K and they seemed like a steal. I didnt want to raise a family there so I didnt buy one.
There may have been flippers in O’side in 1997 and 1998 which wouldnt surprise me given all the VA loans going bad and turning into HUD homes. There werent flippers to any extent around here which is what we were talking about on this thread.
February 9, 2010 at 6:19 PM #512108sdrealtorParticipantArtificially is probably the wrong word and undervalued is more appropriate. I bought my first place (4BR 1600 sq ft townhouse)in 1997 with either 5% or 10% down (honestly cant remember). It was less than 20K down and that was not difficult to come by. My PITI were about rent value and it was a slam dunk with the tax benefits. I remember looking at run down shacks a block from Moonlight Beach for under 300K and they seemed like a steal. I didnt want to raise a family there so I didnt buy one.
There may have been flippers in O’side in 1997 and 1998 which wouldnt surprise me given all the VA loans going bad and turning into HUD homes. There werent flippers to any extent around here which is what we were talking about on this thread.
February 9, 2010 at 6:19 PM #512357sdrealtorParticipantArtificially is probably the wrong word and undervalued is more appropriate. I bought my first place (4BR 1600 sq ft townhouse)in 1997 with either 5% or 10% down (honestly cant remember). It was less than 20K down and that was not difficult to come by. My PITI were about rent value and it was a slam dunk with the tax benefits. I remember looking at run down shacks a block from Moonlight Beach for under 300K and they seemed like a steal. I didnt want to raise a family there so I didnt buy one.
There may have been flippers in O’side in 1997 and 1998 which wouldnt surprise me given all the VA loans going bad and turning into HUD homes. There werent flippers to any extent around here which is what we were talking about on this thread.
February 9, 2010 at 6:24 PM #511459sdduuuudeParticipant[quote=sdcellar][quote=sdrealtor]Tell me again we dont have a large amount of pent up demand building.[/quote]I don’t think anybody denies that pent up demand is out there. Heck, Piggington’s alone is chock full of it. I just question if the number is as high as you’ve put forth. I’ll certainly give you credit for throwing a number at it though![/quote]
Remember, in the first-order, demand is a fuction of price. You can’t say there is or is not pent-up demand unless you specify a price.
As was mentioned earlier, there is pent-up demand for beach houses at $400K, but not at $3M.
I’m sure there is pent-up demand because lots of people are sick of renting or they want to move to the nice neighborhood. But is there pent-up demand at prices much higher than they are today or are people just going to bid at or near the asking price but leave it be if they aren’t the highest bidder ?
i.e. is there really any price pressure or just a bunch of people maybe already aiming higher than they really should be aiming ? I think the stories you provided, though interesting, don’t tell us either way.
I wonder if the end of Fed mortgage purchases at the end of March will A) happen and B) have an effect.
February 9, 2010 at 6:24 PM #511605sdduuuudeParticipant[quote=sdcellar][quote=sdrealtor]Tell me again we dont have a large amount of pent up demand building.[/quote]I don’t think anybody denies that pent up demand is out there. Heck, Piggington’s alone is chock full of it. I just question if the number is as high as you’ve put forth. I’ll certainly give you credit for throwing a number at it though![/quote]
Remember, in the first-order, demand is a fuction of price. You can’t say there is or is not pent-up demand unless you specify a price.
As was mentioned earlier, there is pent-up demand for beach houses at $400K, but not at $3M.
I’m sure there is pent-up demand because lots of people are sick of renting or they want to move to the nice neighborhood. But is there pent-up demand at prices much higher than they are today or are people just going to bid at or near the asking price but leave it be if they aren’t the highest bidder ?
i.e. is there really any price pressure or just a bunch of people maybe already aiming higher than they really should be aiming ? I think the stories you provided, though interesting, don’t tell us either way.
I wonder if the end of Fed mortgage purchases at the end of March will A) happen and B) have an effect.
February 9, 2010 at 6:24 PM #512018sdduuuudeParticipant[quote=sdcellar][quote=sdrealtor]Tell me again we dont have a large amount of pent up demand building.[/quote]I don’t think anybody denies that pent up demand is out there. Heck, Piggington’s alone is chock full of it. I just question if the number is as high as you’ve put forth. I’ll certainly give you credit for throwing a number at it though![/quote]
Remember, in the first-order, demand is a fuction of price. You can’t say there is or is not pent-up demand unless you specify a price.
As was mentioned earlier, there is pent-up demand for beach houses at $400K, but not at $3M.
I’m sure there is pent-up demand because lots of people are sick of renting or they want to move to the nice neighborhood. But is there pent-up demand at prices much higher than they are today or are people just going to bid at or near the asking price but leave it be if they aren’t the highest bidder ?
i.e. is there really any price pressure or just a bunch of people maybe already aiming higher than they really should be aiming ? I think the stories you provided, though interesting, don’t tell us either way.
I wonder if the end of Fed mortgage purchases at the end of March will A) happen and B) have an effect.
February 9, 2010 at 6:24 PM #512113sdduuuudeParticipant[quote=sdcellar][quote=sdrealtor]Tell me again we dont have a large amount of pent up demand building.[/quote]I don’t think anybody denies that pent up demand is out there. Heck, Piggington’s alone is chock full of it. I just question if the number is as high as you’ve put forth. I’ll certainly give you credit for throwing a number at it though![/quote]
Remember, in the first-order, demand is a fuction of price. You can’t say there is or is not pent-up demand unless you specify a price.
As was mentioned earlier, there is pent-up demand for beach houses at $400K, but not at $3M.
I’m sure there is pent-up demand because lots of people are sick of renting or they want to move to the nice neighborhood. But is there pent-up demand at prices much higher than they are today or are people just going to bid at or near the asking price but leave it be if they aren’t the highest bidder ?
i.e. is there really any price pressure or just a bunch of people maybe already aiming higher than they really should be aiming ? I think the stories you provided, though interesting, don’t tell us either way.
I wonder if the end of Fed mortgage purchases at the end of March will A) happen and B) have an effect.
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