Price per square foot

[Coronita]

I’m just curious. Do people really think things are going to around $500k (fairly close to late 90ies?). I mean, $500k today isn’t exactly the same purchasing power as $400k in the 90’ies.

I mean, seriously, with the dollar so hammered, from an external view, how much has the U.S. dollar fallen since the late 90ies?

[Ren]

It may be an overcorrection, taking into account inflation and the value of the dollar. Personally, I don’t see it as much of a stretch. It seems more likely (and more logical) to me that prices will follow past trends and current downward pressures than to only go down another 10% and level out, while every other market continues to tank. It’s never happened that way in the past, and I just don’t think the coast is that magical.

The changes in the U.S. dollar haven’t prevented prices from reaching 2000-2001 levels in other areas, and those areas are still dropping.

[Ren]

It may be an overcorrection, taking into account inflation and the value of the dollar. Personally, I don’t see it as much of a stretch. It seems more likely (and more logical) to me that prices will follow past trends and current downward pressures than to only go down another 10% and level out, while every other market continues to tank. It’s never happened that way in the past, and I just don’t think the coast is that magical.

The changes in the U.S. dollar haven’t prevented prices from reaching 2000-2001 levels in other areas, and those areas are still dropping.

[Ren]

It may be an overcorrection, taking into account inflation and the value of the dollar. Personally, I don’t see it as much of a stretch. It seems more likely (and more logical) to me that prices will follow past trends and current downward pressures than to only go down another 10% and level out, while every other market continues to tank. It’s never happened that way in the past, and I just don’t think the coast is that magical.

The changes in the U.S. dollar haven’t prevented prices from reaching 2000-2001 levels in other areas, and those areas are still dropping.

[Ren]

It may be an overcorrection, taking into account inflation and the value of the dollar. Personally, I don’t see it as much of a stretch. It seems more likely (and more logical) to me that prices will follow past trends and current downward pressures than to only go down another 10% and level out, while every other market continues to tank. It’s never happened that way in the past, and I just don’t think the coast is that magical.

The changes in the U.S. dollar haven’t prevented prices from reaching 2000-2001 levels in other areas, and those areas are still dropping.

[Ren]

It may be an overcorrection, taking into account inflation and the value of the dollar. Personally, I don’t see it as much of a stretch. It seems more likely (and more logical) to me that prices will follow past trends and current downward pressures than to only go down another 10% and level out, while every other market continues to tank. It’s never happened that way in the past, and I just don’t think the coast is that magical.

The changes in the U.S. dollar haven’t prevented prices from reaching 2000-2001 levels in other areas, and those areas are still dropping.

[patb]

Cost per SF tends to drop as the fixed costs get spread over a larger
base, but, Price per SF tends to increase as more hiigher end
finish is applied.

a small 1960’s house of 1200 SF, would have carpet or tile floors,
and plaster walls.

a 2005 mcmansion will have spotted owl mosaic and giant crown molds.

at leas tthe corrleation is bigger house higer $/SF on price.
through about 1500 SF, then it starts to rise again on the small end.

[patb]

Cost per SF tends to drop as the fixed costs get spread over a larger
base, but, Price per SF tends to increase as more hiigher end
finish is applied.

a small 1960’s house of 1200 SF, would have carpet or tile floors,
and plaster walls.

a 2005 mcmansion will have spotted owl mosaic and giant crown molds.

at leas tthe corrleation is bigger house higer $/SF on price.
through about 1500 SF, then it starts to rise again on the small end.

[patb]

Cost per SF tends to drop as the fixed costs get spread over a larger
base, but, Price per SF tends to increase as more hiigher end
finish is applied.

a small 1960’s house of 1200 SF, would have carpet or tile floors,
and plaster walls.

a 2005 mcmansion will have spotted owl mosaic and giant crown molds.

at leas tthe corrleation is bigger house higer $/SF on price.
through about 1500 SF, then it starts to rise again on the small end.

[patb]

Cost per SF tends to drop as the fixed costs get spread over a larger
base, but, Price per SF tends to increase as more hiigher end
finish is applied.

a small 1960’s house of 1200 SF, would have carpet or tile floors,
and plaster walls.

a 2005 mcmansion will have spotted owl mosaic and giant crown molds.

at leas tthe corrleation is bigger house higer $/SF on price.
through about 1500 SF, then it starts to rise again on the small end.

[patb]

Cost per SF tends to drop as the fixed costs get spread over a larger
base, but, Price per SF tends to increase as more hiigher end
finish is applied.

a small 1960’s house of 1200 SF, would have carpet or tile floors,
and plaster walls.

a 2005 mcmansion will have spotted owl mosaic and giant crown molds.

at leas tthe corrleation is bigger house higer $/SF on price.
through about 1500 SF, then it starts to rise again on the small end.

[sdrealtor]

Ren
Trust me on this one. The houses selling at 900+ at the peak were sold for 400K NEW in the late 90’s. I dont discount you seeing sales histories with prices in the high 300’s to 400 but they were new and required significant improvements to get them livable unless you consider a dirt lot, builders grade carpet, flat white walls and no window coverings livable among other things.

I just checked the MLS for 1999 closed sales to see what sold below 400K that could possibly have sold for 900+ at the peak. The only thing I found was a handful of new homes entered by the builders which arent really sub 400K homes because of what I have been trying to explain.

Enjoy sitting on the sidelines. With you expectations you will never get off them.

sdr

[sdrealtor]

Ren
Trust me on this one. The houses selling at 900+ at the peak were sold for 400K NEW in the late 90’s. I dont discount you seeing sales histories with prices in the high 300’s to 400 but they were new and required significant improvements to get them livable unless you consider a dirt lot, builders grade carpet, flat white walls and no window coverings livable among other things.

I just checked the MLS for 1999 closed sales to see what sold below 400K that could possibly have sold for 900+ at the peak. The only thing I found was a handful of new homes entered by the builders which arent really sub 400K homes because of what I have been trying to explain.

Enjoy sitting on the sidelines. With you expectations you will never get off them.

sdr

[sdrealtor]

Ren
Trust me on this one. The houses selling at 900+ at the peak were sold for 400K NEW in the late 90’s. I dont discount you seeing sales histories with prices in the high 300’s to 400 but they were new and required significant improvements to get them livable unless you consider a dirt lot, builders grade carpet, flat white walls and no window coverings livable among other things.

I just checked the MLS for 1999 closed sales to see what sold below 400K that could possibly have sold for 900+ at the peak. The only thing I found was a handful of new homes entered by the builders which arent really sub 400K homes because of what I have been trying to explain.

Enjoy sitting on the sidelines. With you expectations you will never get off them.

sdr

[sdrealtor]

Ren
Trust me on this one. The houses selling at 900+ at the peak were sold for 400K NEW in the late 90’s. I dont discount you seeing sales histories with prices in the high 300’s to 400 but they were new and required significant improvements to get them livable unless you consider a dirt lot, builders grade carpet, flat white walls and no window coverings livable among other things.

I just checked the MLS for 1999 closed sales to see what sold below 400K that could possibly have sold for 900+ at the peak. The only thing I found was a handful of new homes entered by the builders which arent really sub 400K homes because of what I have been trying to explain.

Enjoy sitting on the sidelines. With you expectations you will never get off them.

sdr

[Author]

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