- This topic has 330 replies, 39 voices, and was last updated 14 years, 10 months ago by
LAAFTERHOURS.
-
AuthorPosts
-
June 9, 2009 at 3:34 PM #413591June 9, 2009 at 3:49 PM #412902
sdrealtor
ParticipantI cant speak for everywhere but NFWIH are prices in my hood gonna drop by 10 to 15% over the next 6 months. Prices have firmed up and inventory is very low. Virtually no NOD’s filed. Out of more than 1,000 homes there are only 8 on the market and only 1 short sale (new this week). Last year and the year before there were 30 to 40 active lisitngs this time of year. There are 3 other short sales with offers on them pending lender approval and 9 homes in pending. Prices are stonger today that they were in Fall/Winter 2008. Far more willing and able buyers than willing sellers.
June 9, 2009 at 3:49 PM #413138ParticipantI cant speak for everywhere but NFWIH are prices in my hood gonna drop by 10 to 15% over the next 6 months. Prices have firmed up and inventory is very low. Virtually no NOD’s filed. Out of more than 1,000 homes there are only 8 on the market and only 1 short sale (new this week). Last year and the year before there were 30 to 40 active lisitngs this time of year. There are 3 other short sales with offers on them pending lender approval and 9 homes in pending. Prices are stonger today that they were in Fall/Winter 2008. Far more willing and able buyers than willing sellers.
June 9, 2009 at 3:49 PM #413380ParticipantI cant speak for everywhere but NFWIH are prices in my hood gonna drop by 10 to 15% over the next 6 months. Prices have firmed up and inventory is very low. Virtually no NOD’s filed. Out of more than 1,000 homes there are only 8 on the market and only 1 short sale (new this week). Last year and the year before there were 30 to 40 active lisitngs this time of year. There are 3 other short sales with offers on them pending lender approval and 9 homes in pending. Prices are stonger today that they were in Fall/Winter 2008. Far more willing and able buyers than willing sellers.
June 9, 2009 at 3:49 PM #413447ParticipantI cant speak for everywhere but NFWIH are prices in my hood gonna drop by 10 to 15% over the next 6 months. Prices have firmed up and inventory is very low. Virtually no NOD’s filed. Out of more than 1,000 homes there are only 8 on the market and only 1 short sale (new this week). Last year and the year before there were 30 to 40 active lisitngs this time of year. There are 3 other short sales with offers on them pending lender approval and 9 homes in pending. Prices are stonger today that they were in Fall/Winter 2008. Far more willing and able buyers than willing sellers.
June 9, 2009 at 3:49 PM #413596ParticipantI cant speak for everywhere but NFWIH are prices in my hood gonna drop by 10 to 15% over the next 6 months. Prices have firmed up and inventory is very low. Virtually no NOD’s filed. Out of more than 1,000 homes there are only 8 on the market and only 1 short sale (new this week). Last year and the year before there were 30 to 40 active lisitngs this time of year. There are 3 other short sales with offers on them pending lender approval and 9 homes in pending. Prices are stonger today that they were in Fall/Winter 2008. Far more willing and able buyers than willing sellers.
June 9, 2009 at 5:22 PM #412917SD Realtor
ParticipantYep it is a very VERY poor time to shop if you are a buyer looking for a deal. Go back and test the waters. You need a substantial rise in inventory just to get back to normal inventory levels. A rapid rise in rates would help as well but elasticity of pricing usually does not kick until a few months after rates have moved. 10 – 15% depreciation will not happen in 2009 unless something extraordinary happens. Maybe by the end of 2010 and at that we need much more inventory, rate movement, job loss… you know the story.
June 9, 2009 at 5:22 PM #413152ParticipantYep it is a very VERY poor time to shop if you are a buyer looking for a deal. Go back and test the waters. You need a substantial rise in inventory just to get back to normal inventory levels. A rapid rise in rates would help as well but elasticity of pricing usually does not kick until a few months after rates have moved. 10 – 15% depreciation will not happen in 2009 unless something extraordinary happens. Maybe by the end of 2010 and at that we need much more inventory, rate movement, job loss… you know the story.
June 9, 2009 at 5:22 PM #413395ParticipantYep it is a very VERY poor time to shop if you are a buyer looking for a deal. Go back and test the waters. You need a substantial rise in inventory just to get back to normal inventory levels. A rapid rise in rates would help as well but elasticity of pricing usually does not kick until a few months after rates have moved. 10 – 15% depreciation will not happen in 2009 unless something extraordinary happens. Maybe by the end of 2010 and at that we need much more inventory, rate movement, job loss… you know the story.
June 9, 2009 at 5:22 PM #413461ParticipantYep it is a very VERY poor time to shop if you are a buyer looking for a deal. Go back and test the waters. You need a substantial rise in inventory just to get back to normal inventory levels. A rapid rise in rates would help as well but elasticity of pricing usually does not kick until a few months after rates have moved. 10 – 15% depreciation will not happen in 2009 unless something extraordinary happens. Maybe by the end of 2010 and at that we need much more inventory, rate movement, job loss… you know the story.
June 9, 2009 at 5:22 PM #413611ParticipantYep it is a very VERY poor time to shop if you are a buyer looking for a deal. Go back and test the waters. You need a substantial rise in inventory just to get back to normal inventory levels. A rapid rise in rates would help as well but elasticity of pricing usually does not kick until a few months after rates have moved. 10 – 15% depreciation will not happen in 2009 unless something extraordinary happens. Maybe by the end of 2010 and at that we need much more inventory, rate movement, job loss… you know the story.
June 9, 2009 at 6:31 PM #412956Rt.66
ParticipantNothing new in this bubble collapse, except its much, much bigger and the economy is much worse.
So follow what always happens and count on it being worse this time around.
You will always have the too eager fence sitters jumping in way early and chatting about how its the bottom (although EVERY indicator says, no way!). Right now the bankers are playing these “investors” like a Stratovarius. These people will find their 2008-2009 smoking REO deal very far underwater.
These folks will likely be out of money to bid up REOs by late fall, and the “investors” amongst them will be trying to flip by January 2010 and the long termers will be thinking jingle keys in 2011.
Then reality is setting in and people realize that, just like the other times, things are gonna go down, overshoot to the downside, and then sit at the bottom until something happens to spark things up again (which may never happen again in their lifetimes).
When people stop trying to downplay the biggest foreclosure disaster in history (x50) and let it and its ramifications sink in……
When people barf a bit in their mouths when RE investing is mentioned…. then we are getting somewhere.
June 9, 2009 at 6:31 PM #413191ParticipantNothing new in this bubble collapse, except its much, much bigger and the economy is much worse.
So follow what always happens and count on it being worse this time around.
You will always have the too eager fence sitters jumping in way early and chatting about how its the bottom (although EVERY indicator says, no way!). Right now the bankers are playing these “investors” like a Stratovarius. These people will find their 2008-2009 smoking REO deal very far underwater.
These folks will likely be out of money to bid up REOs by late fall, and the “investors” amongst them will be trying to flip by January 2010 and the long termers will be thinking jingle keys in 2011.
Then reality is setting in and people realize that, just like the other times, things are gonna go down, overshoot to the downside, and then sit at the bottom until something happens to spark things up again (which may never happen again in their lifetimes).
When people stop trying to downplay the biggest foreclosure disaster in history (x50) and let it and its ramifications sink in……
When people barf a bit in their mouths when RE investing is mentioned…. then we are getting somewhere.
June 9, 2009 at 6:31 PM #413435ParticipantNothing new in this bubble collapse, except its much, much bigger and the economy is much worse.
So follow what always happens and count on it being worse this time around.
You will always have the too eager fence sitters jumping in way early and chatting about how its the bottom (although EVERY indicator says, no way!). Right now the bankers are playing these “investors” like a Stratovarius. These people will find their 2008-2009 smoking REO deal very far underwater.
These folks will likely be out of money to bid up REOs by late fall, and the “investors” amongst them will be trying to flip by January 2010 and the long termers will be thinking jingle keys in 2011.
Then reality is setting in and people realize that, just like the other times, things are gonna go down, overshoot to the downside, and then sit at the bottom until something happens to spark things up again (which may never happen again in their lifetimes).
When people stop trying to downplay the biggest foreclosure disaster in history (x50) and let it and its ramifications sink in……
When people barf a bit in their mouths when RE investing is mentioned…. then we are getting somewhere.
June 9, 2009 at 6:31 PM #413500ParticipantNothing new in this bubble collapse, except its much, much bigger and the economy is much worse.
So follow what always happens and count on it being worse this time around.
You will always have the too eager fence sitters jumping in way early and chatting about how its the bottom (although EVERY indicator says, no way!). Right now the bankers are playing these “investors” like a Stratovarius. These people will find their 2008-2009 smoking REO deal very far underwater.
These folks will likely be out of money to bid up REOs by late fall, and the “investors” amongst them will be trying to flip by January 2010 and the long termers will be thinking jingle keys in 2011.
Then reality is setting in and people realize that, just like the other times, things are gonna go down, overshoot to the downside, and then sit at the bottom until something happens to spark things up again (which may never happen again in their lifetimes).
When people stop trying to downplay the biggest foreclosure disaster in history (x50) and let it and its ramifications sink in……
When people barf a bit in their mouths when RE investing is mentioned…. then we are getting somewhere.
-
AuthorPosts
- You must be logged in to reply to this topic.