Prime Areas Collapse

[Rt.66]

Anyone else notice that the minute another bear thread comes up certain people jump on it like stink and try a de-legitimize it?

You’ll notice that the first reply is from the pit bull aggressive name flinging realtor with a reply that reads like “oh that’s stupid”.

How many people will that chase off from contributing? It’s not worth getting into a debate with someone so venomous who enjoys the protection or fear of the forum at large. So we all may lose a meaningful thread as it withers away.

Look at the heavy heat brought in the first stages of life for “The Ongoing Case-Shiller Fallacy/Shadow Inventory” thread. Look at “Question for the bulls” thread. Does their spine tingle when a bear thread hits the forum?

I applaud the few standouts who buck the trend, but this board is in danger of losing its way.

I think Arizona is a good place to use when considering the direction of CA markets. There are only a few other states I would consider living in and AZ is one. AZ has enjoyed years of swelling population (someone else must like it) and it’s a dream compared to colder, wet areas of the country.

Comparing the high end market of any of the warm weather retirement states to us, is a good comparison. Nothing tops SD but there are other desirable areas. And it’s those we should logically look to for comparison.

[sdrealtor]

Funny I was thinking the same thing myself…..

[sdrealtor]

Funny I was thinking the same thing myself…..

[sdrealtor]

Funny I was thinking the same thing myself…..

[sdrealtor]

Funny I was thinking the same thing myself…..

[sdrealtor]

Funny I was thinking the same thing myself…..

[Anonymous]

Maybe I am a little confused here but I thought sdrealtor was stating thqat he didn’t think this time was different… so in fact he was agreeing with most of the other people om the thread. Or was his statement supposed to be sarcastic?

[Anonymous]

Maybe I am a little confused here but I thought sdrealtor was stating thqat he didn’t think this time was different… so in fact he was agreeing with most of the other people om the thread. Or was his statement supposed to be sarcastic?

[Anonymous]

Maybe I am a little confused here but I thought sdrealtor was stating thqat he didn’t think this time was different… so in fact he was agreeing with most of the other people om the thread. Or was his statement supposed to be sarcastic?

[Anonymous]

Maybe I am a little confused here but I thought sdrealtor was stating thqat he didn’t think this time was different… so in fact he was agreeing with most of the other people om the thread. Or was his statement supposed to be sarcastic?

[Anonymous]

Maybe I am a little confused here but I thought sdrealtor was stating thqat he didn’t think this time was different… so in fact he was agreeing with most of the other people om the thread. Or was his statement supposed to be sarcastic?

[CAwireman]

Seem to be a number of similar articles like this popping up:

http://www.dailyfinance.com/2009/10/12/home-foreclosures-move-up-market-as-discounting-pushes-prices-do/

Foreclosures are no longer a primarily subprime problem. While in 2006 about 55 percent of foreclosures came on subprime loans, in 2009 subprimes represent just 35 percent of foreclosures, another 35 percent are in the middle tier and 30 percent are in the top tier. The primary contributing factor is higher delinquency rates in Prime, Alt-A and Option ARM mortgage products.

According to the Amherst Security Group, this problem won’t go away any time soon, because:

• Loans are transitioning into delinquency/foreclosure at a rapid pace, but moving out at a slow pace;

• Cure rates are low. In other words, fewer people are paying their past-due amounts and getting back on track.

• Loans are taking longer to liquidate. In other words, the length of time between the start of the foreclosure process and the point when the lender gets control of the property is growing.

http://www.dailydemocrat.com/news/ci_13532775

“Housing in California has become a tale of two markets,” Association President James Liptak said in a written statement. “The low end continues to attract first-time buyers and investors, with a resulting shortage in the number of homes for sale. Sellers at the high end, however, continue to be challenged by the ability of home buyers to secure financing as well as their
concerns about where prices are headed.”
There is also another reason why high-end homes are not selling. Move-up buyers have seen their home values fall and are unable to sell their homes at the price level needed to help finance the purchase of a more expensive home, said Mark Hanson, head of Menlo Park-based Field Check Group, an independent real estate research firm.

“Our move-up buyer is long gone in California. In the mid- to high-end market … people can’t sell their property,” he said.

“In the low-end market, sales are going to drop,”
_________________________

Heard as much on the radio today while driving into work. High end jobs being lost along with those at the mid and low end.

Will continue to keep a close eye on this…..

[CAwireman]

Seem to be a number of similar articles like this popping up:

http://www.dailyfinance.com/2009/10/12/home-foreclosures-move-up-market-as-discounting-pushes-prices-do/

Foreclosures are no longer a primarily subprime problem. While in 2006 about 55 percent of foreclosures came on subprime loans, in 2009 subprimes represent just 35 percent of foreclosures, another 35 percent are in the middle tier and 30 percent are in the top tier. The primary contributing factor is higher delinquency rates in Prime, Alt-A and Option ARM mortgage products.

According to the Amherst Security Group, this problem won’t go away any time soon, because:

• Loans are transitioning into delinquency/foreclosure at a rapid pace, but moving out at a slow pace;

• Cure rates are low. In other words, fewer people are paying their past-due amounts and getting back on track.

• Loans are taking longer to liquidate. In other words, the length of time between the start of the foreclosure process and the point when the lender gets control of the property is growing.

http://www.dailydemocrat.com/news/ci_13532775

“Housing in California has become a tale of two markets,” Association President James Liptak said in a written statement. “The low end continues to attract first-time buyers and investors, with a resulting shortage in the number of homes for sale. Sellers at the high end, however, continue to be challenged by the ability of home buyers to secure financing as well as their
concerns about where prices are headed.”
There is also another reason why high-end homes are not selling. Move-up buyers have seen their home values fall and are unable to sell their homes at the price level needed to help finance the purchase of a more expensive home, said Mark Hanson, head of Menlo Park-based Field Check Group, an independent real estate research firm.

“Our move-up buyer is long gone in California. In the mid- to high-end market … people can’t sell their property,” he said.

“In the low-end market, sales are going to drop,”
_________________________

Heard as much on the radio today while driving into work. High end jobs being lost along with those at the mid and low end.

Will continue to keep a close eye on this…..

[CAwireman]

Seem to be a number of similar articles like this popping up:

http://www.dailyfinance.com/2009/10/12/home-foreclosures-move-up-market-as-discounting-pushes-prices-do/

Foreclosures are no longer a primarily subprime problem. While in 2006 about 55 percent of foreclosures came on subprime loans, in 2009 subprimes represent just 35 percent of foreclosures, another 35 percent are in the middle tier and 30 percent are in the top tier. The primary contributing factor is higher delinquency rates in Prime, Alt-A and Option ARM mortgage products.

According to the Amherst Security Group, this problem won’t go away any time soon, because:

• Loans are transitioning into delinquency/foreclosure at a rapid pace, but moving out at a slow pace;

• Cure rates are low. In other words, fewer people are paying their past-due amounts and getting back on track.

• Loans are taking longer to liquidate. In other words, the length of time between the start of the foreclosure process and the point when the lender gets control of the property is growing.

http://www.dailydemocrat.com/news/ci_13532775

“Housing in California has become a tale of two markets,” Association President James Liptak said in a written statement. “The low end continues to attract first-time buyers and investors, with a resulting shortage in the number of homes for sale. Sellers at the high end, however, continue to be challenged by the ability of home buyers to secure financing as well as their
concerns about where prices are headed.”
There is also another reason why high-end homes are not selling. Move-up buyers have seen their home values fall and are unable to sell their homes at the price level needed to help finance the purchase of a more expensive home, said Mark Hanson, head of Menlo Park-based Field Check Group, an independent real estate research firm.

“Our move-up buyer is long gone in California. In the mid- to high-end market … people can’t sell their property,” he said.

“In the low-end market, sales are going to drop,”
_________________________

Heard as much on the radio today while driving into work. High end jobs being lost along with those at the mid and low end.

Will continue to keep a close eye on this…..

[CAwireman]

Seem to be a number of similar articles like this popping up:

http://www.dailyfinance.com/2009/10/12/home-foreclosures-move-up-market-as-discounting-pushes-prices-do/

Foreclosures are no longer a primarily subprime problem. While in 2006 about 55 percent of foreclosures came on subprime loans, in 2009 subprimes represent just 35 percent of foreclosures, another 35 percent are in the middle tier and 30 percent are in the top tier. The primary contributing factor is higher delinquency rates in Prime, Alt-A and Option ARM mortgage products.

According to the Amherst Security Group, this problem won’t go away any time soon, because:

• Loans are transitioning into delinquency/foreclosure at a rapid pace, but moving out at a slow pace;

• Cure rates are low. In other words, fewer people are paying their past-due amounts and getting back on track.

• Loans are taking longer to liquidate. In other words, the length of time between the start of the foreclosure process and the point when the lender gets control of the property is growing.

http://www.dailydemocrat.com/news/ci_13532775

“Housing in California has become a tale of two markets,” Association President James Liptak said in a written statement. “The low end continues to attract first-time buyers and investors, with a resulting shortage in the number of homes for sale. Sellers at the high end, however, continue to be challenged by the ability of home buyers to secure financing as well as their
concerns about where prices are headed.”
There is also another reason why high-end homes are not selling. Move-up buyers have seen their home values fall and are unable to sell their homes at the price level needed to help finance the purchase of a more expensive home, said Mark Hanson, head of Menlo Park-based Field Check Group, an independent real estate research firm.

“Our move-up buyer is long gone in California. In the mid- to high-end market … people can’t sell their property,” he said.

“In the low-end market, sales are going to drop,”
_________________________

Heard as much on the radio today while driving into work. High end jobs being lost along with those at the mid and low end.

Will continue to keep a close eye on this…..

[Author]

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