San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May)

[Anonymous]

sdr, what I don’t understand is why would these pre-qualified buyers with lots of cash (and high income) be interested in purchasing sub 500K homes? They have to be investors or it doesn’t make sense.

If I had a lot of cash (which I do), I wouldn’t be wasting time competing for some foreclosed house in ChulaJuana. Bottom line, I am not denying what you are seeing, just something doesn’t make sense.

[sdrealtor]

Mid $500K homes in San Elijo, Mid $400K homes in RB, mid 300K homes in Oceanside, nice townhomes between 300 and 350K are just a few examples. Hell I even have an $800K home in Coto De Caza (home of Real Housewives of the OC) that has a pile of offers (ranging from 20% down to all cash) from owner occupiers vying for it.

All of these are affordable to the people that want to buy them without a stretch. Those prices all make sense for the people that want them now. Think about the Piggs who have bought recently. Buyers are now responsible and conservative in their purchases. People are putting down 20% and buying well under 3X annual income the way they should. And make no mistake, there are plenty of them that can and want to.

[sdrealtor]

Mid $500K homes in San Elijo, Mid $400K homes in RB, mid 300K homes in Oceanside, nice townhomes between 300 and 350K are just a few examples. Hell I even have an $800K home in Coto De Caza (home of Real Housewives of the OC) that has a pile of offers (ranging from 20% down to all cash) from owner occupiers vying for it.

All of these are affordable to the people that want to buy them without a stretch. Those prices all make sense for the people that want them now. Think about the Piggs who have bought recently. Buyers are now responsible and conservative in their purchases. People are putting down 20% and buying well under 3X annual income the way they should. And make no mistake, there are plenty of them that can and want to.

[sdrealtor]

Mid $500K homes in San Elijo, Mid $400K homes in RB, mid 300K homes in Oceanside, nice townhomes between 300 and 350K are just a few examples. Hell I even have an $800K home in Coto De Caza (home of Real Housewives of the OC) that has a pile of offers (ranging from 20% down to all cash) from owner occupiers vying for it.

All of these are affordable to the people that want to buy them without a stretch. Those prices all make sense for the people that want them now. Think about the Piggs who have bought recently. Buyers are now responsible and conservative in their purchases. People are putting down 20% and buying well under 3X annual income the way they should. And make no mistake, there are plenty of them that can and want to.

[sdrealtor]

Mid $500K homes in San Elijo, Mid $400K homes in RB, mid 300K homes in Oceanside, nice townhomes between 300 and 350K are just a few examples. Hell I even have an $800K home in Coto De Caza (home of Real Housewives of the OC) that has a pile of offers (ranging from 20% down to all cash) from owner occupiers vying for it.

All of these are affordable to the people that want to buy them without a stretch. Those prices all make sense for the people that want them now. Think about the Piggs who have bought recently. Buyers are now responsible and conservative in their purchases. People are putting down 20% and buying well under 3X annual income the way they should. And make no mistake, there are plenty of them that can and want to.

[sdrealtor]

Mid $500K homes in San Elijo, Mid $400K homes in RB, mid 300K homes in Oceanside, nice townhomes between 300 and 350K are just a few examples. Hell I even have an $800K home in Coto De Caza (home of Real Housewives of the OC) that has a pile of offers (ranging from 20% down to all cash) from owner occupiers vying for it.

All of these are affordable to the people that want to buy them without a stretch. Those prices all make sense for the people that want them now. Think about the Piggs who have bought recently. Buyers are now responsible and conservative in their purchases. People are putting down 20% and buying well under 3X annual income the way they should. And make no mistake, there are plenty of them that can and want to.

[Anonymous]

[quote=sdrealtor]What absolutely horrible assumptions you have made. Where o where did I say the buyers couldtn get loans? [/quote]

I said that your buyers aren’t real, for a number of reasons, including the fact that they cannot get financing. I got that idea from some stuff I read on the internet:

“Lender does bpo/appraisal right away and then drags their feet for a few months. By the time its approved …”

“…but the lenders hold them up in a lengthly approval process.”

“Two weeks before closing buyer gets weak kneed and cancels. ”

[quote=sdrealtor]You seem to suffer from the same disease many piggs do which is not understanding that there are lots of people out there that have more money in the bank and make more money than you do.[/quote]

Talk about assumptions. Let’s just make up facts about the financial status of some random person on the internet. All because they challenged a few of your points. Also, throw in a general insult directed at a whole swath of the community.

And what does the financial status of all the ignorant piggs have to do with why your deals don’t close?

But I’m curious about something: If you have 30 listings, how do you find the time to post so much in piggington, including a half dozen posts in the past day as part of a squabble with anonymous poster who is obviously just some know-it-all kid?

30 listings should spread your time pretty thin. I’d be concerned about your priorities if I was one of those listings.

Advice to all real estate agents: Remember, you are in the personal service business. Everyone you encounter could lead to a potential client. It’s in your best interest to avoid taking shots at people you’ve never met. Especially over some silly academic debate.

Think I’m full of it? Here’s an example: I’ve had some debates with HLS. We disagree on a number of issues. But he has always been professional about it, and never resorted to cheap personal insults. I recently refinanced through him – didn’t even shop around. The process went well and I have since recommended HLS to others.

Of course you are doing so well you don’t need any more clients anyway.

[Anonymous]

[quote=sdrealtor]What absolutely horrible assumptions you have made. Where o where did I say the buyers couldtn get loans? [/quote]

I said that your buyers aren’t real, for a number of reasons, including the fact that they cannot get financing. I got that idea from some stuff I read on the internet:

“Lender does bpo/appraisal right away and then drags their feet for a few months. By the time its approved …”

“…but the lenders hold them up in a lengthly approval process.”

“Two weeks before closing buyer gets weak kneed and cancels. ”

[quote=sdrealtor]You seem to suffer from the same disease many piggs do which is not understanding that there are lots of people out there that have more money in the bank and make more money than you do.[/quote]

Talk about assumptions. Let’s just make up facts about the financial status of some random person on the internet. All because they challenged a few of your points. Also, throw in a general insult directed at a whole swath of the community.

And what does the financial status of all the ignorant piggs have to do with why your deals don’t close?

But I’m curious about something: If you have 30 listings, how do you find the time to post so much in piggington, including a half dozen posts in the past day as part of a squabble with anonymous poster who is obviously just some know-it-all kid?

30 listings should spread your time pretty thin. I’d be concerned about your priorities if I was one of those listings.

Advice to all real estate agents: Remember, you are in the personal service business. Everyone you encounter could lead to a potential client. It’s in your best interest to avoid taking shots at people you’ve never met. Especially over some silly academic debate.

Think I’m full of it? Here’s an example: I’ve had some debates with HLS. We disagree on a number of issues. But he has always been professional about it, and never resorted to cheap personal insults. I recently refinanced through him – didn’t even shop around. The process went well and I have since recommended HLS to others.

Of course you are doing so well you don’t need any more clients anyway.

[Anonymous]

[quote=sdrealtor]What absolutely horrible assumptions you have made. Where o where did I say the buyers couldtn get loans? [/quote]

I said that your buyers aren’t real, for a number of reasons, including the fact that they cannot get financing. I got that idea from some stuff I read on the internet:

“Lender does bpo/appraisal right away and then drags their feet for a few months. By the time its approved …”

“…but the lenders hold them up in a lengthly approval process.”

“Two weeks before closing buyer gets weak kneed and cancels. ”

[quote=sdrealtor]You seem to suffer from the same disease many piggs do which is not understanding that there are lots of people out there that have more money in the bank and make more money than you do.[/quote]

Talk about assumptions. Let’s just make up facts about the financial status of some random person on the internet. All because they challenged a few of your points. Also, throw in a general insult directed at a whole swath of the community.

And what does the financial status of all the ignorant piggs have to do with why your deals don’t close?

But I’m curious about something: If you have 30 listings, how do you find the time to post so much in piggington, including a half dozen posts in the past day as part of a squabble with anonymous poster who is obviously just some know-it-all kid?

30 listings should spread your time pretty thin. I’d be concerned about your priorities if I was one of those listings.

Advice to all real estate agents: Remember, you are in the personal service business. Everyone you encounter could lead to a potential client. It’s in your best interest to avoid taking shots at people you’ve never met. Especially over some silly academic debate.

Think I’m full of it? Here’s an example: I’ve had some debates with HLS. We disagree on a number of issues. But he has always been professional about it, and never resorted to cheap personal insults. I recently refinanced through him – didn’t even shop around. The process went well and I have since recommended HLS to others.

Of course you are doing so well you don’t need any more clients anyway.

[Anonymous]

[quote=sdrealtor]What absolutely horrible assumptions you have made. Where o where did I say the buyers couldtn get loans? [/quote]

I said that your buyers aren’t real, for a number of reasons, including the fact that they cannot get financing. I got that idea from some stuff I read on the internet:

“Lender does bpo/appraisal right away and then drags their feet for a few months. By the time its approved …”

“…but the lenders hold them up in a lengthly approval process.”

“Two weeks before closing buyer gets weak kneed and cancels. ”

[quote=sdrealtor]You seem to suffer from the same disease many piggs do which is not understanding that there are lots of people out there that have more money in the bank and make more money than you do.[/quote]

Talk about assumptions. Let’s just make up facts about the financial status of some random person on the internet. All because they challenged a few of your points. Also, throw in a general insult directed at a whole swath of the community.

And what does the financial status of all the ignorant piggs have to do with why your deals don’t close?

But I’m curious about something: If you have 30 listings, how do you find the time to post so much in piggington, including a half dozen posts in the past day as part of a squabble with anonymous poster who is obviously just some know-it-all kid?

30 listings should spread your time pretty thin. I’d be concerned about your priorities if I was one of those listings.

Advice to all real estate agents: Remember, you are in the personal service business. Everyone you encounter could lead to a potential client. It’s in your best interest to avoid taking shots at people you’ve never met. Especially over some silly academic debate.

Think I’m full of it? Here’s an example: I’ve had some debates with HLS. We disagree on a number of issues. But he has always been professional about it, and never resorted to cheap personal insults. I recently refinanced through him – didn’t even shop around. The process went well and I have since recommended HLS to others.

Of course you are doing so well you don’t need any more clients anyway.

[Anonymous]

[quote=sdrealtor]What absolutely horrible assumptions you have made. Where o where did I say the buyers couldtn get loans? [/quote]

I said that your buyers aren’t real, for a number of reasons, including the fact that they cannot get financing. I got that idea from some stuff I read on the internet:

“Lender does bpo/appraisal right away and then drags their feet for a few months. By the time its approved …”

“…but the lenders hold them up in a lengthly approval process.”

“Two weeks before closing buyer gets weak kneed and cancels. ”

[quote=sdrealtor]You seem to suffer from the same disease many piggs do which is not understanding that there are lots of people out there that have more money in the bank and make more money than you do.[/quote]

Talk about assumptions. Let’s just make up facts about the financial status of some random person on the internet. All because they challenged a few of your points. Also, throw in a general insult directed at a whole swath of the community.

And what does the financial status of all the ignorant piggs have to do with why your deals don’t close?

But I’m curious about something: If you have 30 listings, how do you find the time to post so much in piggington, including a half dozen posts in the past day as part of a squabble with anonymous poster who is obviously just some know-it-all kid?

30 listings should spread your time pretty thin. I’d be concerned about your priorities if I was one of those listings.

Advice to all real estate agents: Remember, you are in the personal service business. Everyone you encounter could lead to a potential client. It’s in your best interest to avoid taking shots at people you’ve never met. Especially over some silly academic debate.

Think I’m full of it? Here’s an example: I’ve had some debates with HLS. We disagree on a number of issues. But he has always been professional about it, and never resorted to cheap personal insults. I recently refinanced through him – didn’t even shop around. The process went well and I have since recommended HLS to others.

Of course you are doing so well you don’t need any more clients anyway.

[sdrealtor]

pr
You obviously have very limited knowledge of RE so let me clarify. The lenders doing BPO/Appraiasals and holding things up with a lengthly appraisal process are on the sellers side NOT the buyers side. They are the ones that have to approve the property selling for less than the underlying liens. In a short sale, many of the lenders spend 3 to 6 months to approve the short sale. Interestingly, there are lenders that can do them in a week!

Clearly you were questioning the qualifications of buyers out there so you seem to fit in that camp also. Didnt here a plausible denial from you.

As for the buyer that cancelled 2 weeks before closing, they were going to put about 30% down, had at least 1 year of reserves and had a loan amount about 2X annual income. Very conservative buyer indeed.

As for the comment of many piggs having a hard time understanding there are plenty of folks out there with more money in the bank and higher incomes this has been debated and discussed for a couple years around here by many posters. Nothing new there and not an insult to the piggs, just reality. There are simply alot more people making more money and with more cash than many people on these want to beleive. Both SD R and I see it over and over again.

As for my business, my deals close and the fact that I have all those listings is what gives me time. I dont spend my time driving around buyers but rather on my computer/blackberry coordinating the team I’ve built behind me. I am not here for business and never was. I am here to learn and to share with my fellow and mostly like minded piggs. Sure we give each other the business but in anonymous online forum unless you are boisterous you will never be heard above the din.

Gotta laugh about the HLS not making cheap personal insults as he does as much as anyone around here when he posts. I suspect he understands that being heard is a challenge in a forum like this so being a charicature online helps.

[sdrealtor]

pr
You obviously have very limited knowledge of RE so let me clarify. The lenders doing BPO/Appraiasals and holding things up with a lengthly appraisal process are on the sellers side NOT the buyers side. They are the ones that have to approve the property selling for less than the underlying liens. In a short sale, many of the lenders spend 3 to 6 months to approve the short sale. Interestingly, there are lenders that can do them in a week!

Clearly you were questioning the qualifications of buyers out there so you seem to fit in that camp also. Didnt here a plausible denial from you.

As for the buyer that cancelled 2 weeks before closing, they were going to put about 30% down, had at least 1 year of reserves and had a loan amount about 2X annual income. Very conservative buyer indeed.

As for the comment of many piggs having a hard time understanding there are plenty of folks out there with more money in the bank and higher incomes this has been debated and discussed for a couple years around here by many posters. Nothing new there and not an insult to the piggs, just reality. There are simply alot more people making more money and with more cash than many people on these want to beleive. Both SD R and I see it over and over again.

As for my business, my deals close and the fact that I have all those listings is what gives me time. I dont spend my time driving around buyers but rather on my computer/blackberry coordinating the team I’ve built behind me. I am not here for business and never was. I am here to learn and to share with my fellow and mostly like minded piggs. Sure we give each other the business but in anonymous online forum unless you are boisterous you will never be heard above the din.

Gotta laugh about the HLS not making cheap personal insults as he does as much as anyone around here when he posts. I suspect he understands that being heard is a challenge in a forum like this so being a charicature online helps.

[sdrealtor]

pr
You obviously have very limited knowledge of RE so let me clarify. The lenders doing BPO/Appraiasals and holding things up with a lengthly appraisal process are on the sellers side NOT the buyers side. They are the ones that have to approve the property selling for less than the underlying liens. In a short sale, many of the lenders spend 3 to 6 months to approve the short sale. Interestingly, there are lenders that can do them in a week!

Clearly you were questioning the qualifications of buyers out there so you seem to fit in that camp also. Didnt here a plausible denial from you.

As for the buyer that cancelled 2 weeks before closing, they were going to put about 30% down, had at least 1 year of reserves and had a loan amount about 2X annual income. Very conservative buyer indeed.

As for the comment of many piggs having a hard time understanding there are plenty of folks out there with more money in the bank and higher incomes this has been debated and discussed for a couple years around here by many posters. Nothing new there and not an insult to the piggs, just reality. There are simply alot more people making more money and with more cash than many people on these want to beleive. Both SD R and I see it over and over again.

As for my business, my deals close and the fact that I have all those listings is what gives me time. I dont spend my time driving around buyers but rather on my computer/blackberry coordinating the team I’ve built behind me. I am not here for business and never was. I am here to learn and to share with my fellow and mostly like minded piggs. Sure we give each other the business but in anonymous online forum unless you are boisterous you will never be heard above the din.

Gotta laugh about the HLS not making cheap personal insults as he does as much as anyone around here when he posts. I suspect he understands that being heard is a challenge in a forum like this so being a charicature online helps.

[sdrealtor]

pr
You obviously have very limited knowledge of RE so let me clarify. The lenders doing BPO/Appraiasals and holding things up with a lengthly appraisal process are on the sellers side NOT the buyers side. They are the ones that have to approve the property selling for less than the underlying liens. In a short sale, many of the lenders spend 3 to 6 months to approve the short sale. Interestingly, there are lenders that can do them in a week!

Clearly you were questioning the qualifications of buyers out there so you seem to fit in that camp also. Didnt here a plausible denial from you.

As for the buyer that cancelled 2 weeks before closing, they were going to put about 30% down, had at least 1 year of reserves and had a loan amount about 2X annual income. Very conservative buyer indeed.

As for the comment of many piggs having a hard time understanding there are plenty of folks out there with more money in the bank and higher incomes this has been debated and discussed for a couple years around here by many posters. Nothing new there and not an insult to the piggs, just reality. There are simply alot more people making more money and with more cash than many people on these want to beleive. Both SD R and I see it over and over again.

As for my business, my deals close and the fact that I have all those listings is what gives me time. I dont spend my time driving around buyers but rather on my computer/blackberry coordinating the team I’ve built behind me. I am not here for business and never was. I am here to learn and to share with my fellow and mostly like minded piggs. Sure we give each other the business but in anonymous online forum unless you are boisterous you will never be heard above the din.

Gotta laugh about the HLS not making cheap personal insults as he does as much as anyone around here when he posts. I suspect he understands that being heard is a challenge in a forum like this so being a charicature online helps.

[Author]

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