Real estate bubble 2013

[CA renter]

[quote=earlyretirement]I noticed this weekend just driving around in my neighborhood there are more for sale signs going up that weren’t there a few weeks ago. Looks like more people are starting to list their houses now that prices and demand have risen.[/quote]

We were noticing this in our area as well. Let’s hope inventory starts to build so that the market gets a chance to cool down a bit. What’s been going on is not healthy, IMHO.

[SD Realtor]

The numbers do bear this out as well. We are finally starting to see inventory growth. The people looking at homes under 600k are still pretty screwed but above that we are starting to see some inventory accumulate. This of course applies to places like the I15 and I56 corridors as well as north county.

[The-Shoveler]

Well here is a new one on the market,

Anyone know where I could get 200 million in financing ?

Lehman Brothers Holdings has put the Ritz-Carlton, Kapalua Resort, a 54-acre luxury condo and hotel resort in Maui, Hawaii, on the block as it continues to sell off its real estate holdings to pay off creditors, said two sources familiar with the deal.
The sale is expected to fetch more than $200 million, said one source who was not authorized to speak on the record.
The property consists of 297 hotel rooms and 107 condominium units, of which 73 are unsold. It also has indoor and outdoor meeting spaces, a spa, a three-tiered pool, a tennis center, six restaurants, bars and lounges, and access to shopping and golf.

[flyer]

That should be an interesting sale to watch, TS. Kapalua is our favorite place in Maui.

[The-Shoveler]

When I was there last (it’s been a few years now),
That was hands down the best location and most classy resort on the Island.

Seems like a steal for 200 million.

If I could find a way to buy that place I would in a heartbeat.

[The-Shoveler]

During the Tech bubble 1995-2001 I remember there being a lot of corporate boondoggles to these fancy resorts.
Also If there was a technical issue on a customer site they would not think twice about booking you on the next flight out (full fair), flying was a lot simpler and a lot more fun back then as well. (now days it’s all done with web meetings etc…).

now days if you go they stick you on a overcrowded bus-plane where you fight not to get stuck in the middle seat.

I guess that’s the issue these days.

[earlyretirement]

You guys have great taste. FABULOUS property. I’ve stayed there several times. I’m heading down there next month. Not staying at this property as we rented an apartment but staying in that area. Just fabulous.

[flyer]

My brother and his family live in Wailea, so we usually stay with them a couple of times a year, but always manage to get over to Kapalua. Enjoy your trip!

[earlyretirement]

[quote=flyer]My brother and his family live in Wailea, so we usually stay with them a couple of times a year, but always manage to get over to Kapalua. Enjoy your trip![/quote]

That’s a nice low key area as well. We spent some time on the beaches there and enjoyed it. We spent a few weeks there 2 years ago and enjoyed that area too.

Over near Kaanapali we really love as well. In fact, even though we booked a condo we always book a few nights in a hotel as well so the kids can enjoy the pools in that area. Really a fabulous place.

Maui is my favorite Island.

[outtamojo]

Is there a source that keeps track of price reductions? I am seeing some, it seems like…

[djrobsd]

Don’t get excited about price reductions. Many sellers are pricing their homes $100k over what they are worth to see if the market is hot enough to “bite”, then they get forced into a reduction to get it sold. There is a 900 square foot, 1 bedroom 2 bathroom row home for sale on the busiest street corner in hillcrest right now for $579,000. There is NO WAY any buyer will pay that much for that home, especially with all the traffic noise on that busy street corner, and the tiny size of the home… So that one is a reduction waiting to happen on Robinson. It’s a prime example of how someone compensated for the tiny size of their home and the poor location by over-upgrading, let’s hope the seller gets some of their money they paid for all those upgrades back.

700 square foot condo in Alicante, on 3rd floor with pretty much no views.. 1 bedroom… $359k.. Again a reduction waiting to happen.

Egyptian had a 1 bedroom for $350k… Reduced to $320k. Finally in escrow to a buyer with 50% cash down. LOL No one wants to pay $350,000 for a 1 bedroom AND Pay $420 a month in HOA dues.

[outtamojo]

Excited about price reduction? Me no- I just wanna sorta gauge where things may plateau.

[earlyretirement]

I noticed this came on the market and went into escrow in only 4 DAYS.

http://www.redfin.com/CA/San-Diego/7575-Delfina-92127/home/6482881

I don’t think houses were flying that fast even during the bubble here…were they?? I will be really curious to see what this house sold at relative to the asking price.

The same realtor sold this house in my development earlier this year. From the time he listed it to the time he got an offer was only 5 DAYS.

http://www.redfin.com/CA/San-Diego/8419-Run-Of-The-Knls-92127/home/6541763

[LAAFTERHOURS]

The bubble is alive and well in SEH…

Bought in Jul 2012 for 650 and up for 830K

http://www.zillow.com/homedetails/883-Genoa-Way-San-Marcos-CA-92078/66111081_zpid/

[patb]

Worse,

they may do a bail-in of the banks

[Author]

Posts