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

[sunny88]

San Diego County’s home prices in April dropped at the slowest pace in three years, the Standard & Poor’s Case-Shiller Home Price Index showed Tuesday.

The index, which measures resale house prices on a three-month rolling average for 20 metro areas, stood at 144.43 points for San Diego in April, down only 0.13 point from March, the smallest month-to-month change since June 2006, when the index rose 0.46 point from the month before.

On a year-over-year basis, the index was off 20.01 percent from April 2008, the smallest year-over-year decline since February last year.

[Anonymous]

SDR, did you flunk Econ 101?

If in fact “There is alot more demand than supply right now” then home prices would be rising in San Diego right now. That is clearly not happening. While everybody knows that supply is being artificially held back, obviously not enough to cause prices to rise. Bottom line, there is NOT more demand than supply.

[Anonymous]

SDR, did you flunk Econ 101?

If in fact “There is alot more demand than supply right now” then home prices would be rising in San Diego right now. That is clearly not happening. While everybody knows that supply is being artificially held back, obviously not enough to cause prices to rise. Bottom line, there is NOT more demand than supply.

[Anonymous]

SDR, did you flunk Econ 101?

If in fact “There is alot more demand than supply right now” then home prices would be rising in San Diego right now. That is clearly not happening. While everybody knows that supply is being artificially held back, obviously not enough to cause prices to rise. Bottom line, there is NOT more demand than supply.

[Anonymous]

SDR, did you flunk Econ 101?

If in fact “There is alot more demand than supply right now” then home prices would be rising in San Diego right now. That is clearly not happening. While everybody knows that supply is being artificially held back, obviously not enough to cause prices to rise. Bottom line, there is NOT more demand than supply.

[Anonymous]

SDR, did you flunk Econ 101?

If in fact “There is alot more demand than supply right now” then home prices would be rising in San Diego right now. That is clearly not happening. While everybody knows that supply is being artificially held back, obviously not enough to cause prices to rise. Bottom line, there is NOT more demand than supply.

[sunny88]

[quote=sdrealtor]I absolutely can say that and just did. I’ll say it again. There is alot more demand than supply right now. If there was adequate supply the sales numbers would be even higher than the mistaken figures they published.

Prices are actually rising some places and in some price segmetns. A house down the street from just closed for more than the one next door which was larger with a pool and the one across the street which was also larger with a view did this time last year. Prices on many of the short sales I have in process are lower than what the houses are selling for today. Appraisals keep them from rising too rapidly.[/quote]

You mean one can buy short sales today at lower prices than the actual value?

[sunny88]

[quote=sdrealtor]I absolutely can say that and just did. I’ll say it again. There is alot more demand than supply right now. If there was adequate supply the sales numbers would be even higher than the mistaken figures they published.

Prices are actually rising some places and in some price segmetns. A house down the street from just closed for more than the one next door which was larger with a pool and the one across the street which was also larger with a view did this time last year. Prices on many of the short sales I have in process are lower than what the houses are selling for today. Appraisals keep them from rising too rapidly.[/quote]

You mean one can buy short sales today at lower prices than the actual value?

[sunny88]

[quote=sdrealtor]I absolutely can say that and just did. I’ll say it again. There is alot more demand than supply right now. If there was adequate supply the sales numbers would be even higher than the mistaken figures they published.

Prices are actually rising some places and in some price segmetns. A house down the street from just closed for more than the one next door which was larger with a pool and the one across the street which was also larger with a view did this time last year. Prices on many of the short sales I have in process are lower than what the houses are selling for today. Appraisals keep them from rising too rapidly.[/quote]

You mean one can buy short sales today at lower prices than the actual value?

[sunny88]

[quote=sdrealtor]I absolutely can say that and just did. I’ll say it again. There is alot more demand than supply right now. If there was adequate supply the sales numbers would be even higher than the mistaken figures they published.

Prices are actually rising some places and in some price segmetns. A house down the street from just closed for more than the one next door which was larger with a pool and the one across the street which was also larger with a view did this time last year. Prices on many of the short sales I have in process are lower than what the houses are selling for today. Appraisals keep them from rising too rapidly.[/quote]

You mean one can buy short sales today at lower prices than the actual value?

[sunny88]

[quote=sdrealtor]I absolutely can say that and just did. I’ll say it again. There is alot more demand than supply right now. If there was adequate supply the sales numbers would be even higher than the mistaken figures they published.

Prices are actually rising some places and in some price segmetns. A house down the street from just closed for more than the one next door which was larger with a pool and the one across the street which was also larger with a view did this time last year. Prices on many of the short sales I have in process are lower than what the houses are selling for today. Appraisals keep them from rising too rapidly.[/quote]

You mean one can buy short sales today at lower prices than the actual value?

[drboom]

[quote=deadzone]SDR, did you flunk Econ 101?

If in fact “There is alot more demand than supply right now” then home prices would be rising in San Diego right now. That is clearly not happening. While everybody knows that supply is being artificially held back, obviously not enough to cause prices to rise. Bottom line, there is NOT more demand than supply. [/quote]

No, sdr (not SDR, which is confusing) is a 100 watt bulb even if he isn’t always right.

My agent, who is fairly well connected, says the same thing when he isn’t ranting about the recent changes to the appraisal process.

Some parts of the market are seeing some rises, but that’s the natural result of Helicopter Ben’s interest rate manipulation, the $8k tax credit, and other chicanery going on right now.

In my own case, the max my wife and I could responsibly offer went from $215k to $240k (yes, we are bottom feeders) in the last nine months or so. I doubt we’re the only ones.

[drboom]

[quote=deadzone]SDR, did you flunk Econ 101?

If in fact “There is alot more demand than supply right now” then home prices would be rising in San Diego right now. That is clearly not happening. While everybody knows that supply is being artificially held back, obviously not enough to cause prices to rise. Bottom line, there is NOT more demand than supply. [/quote]

No, sdr (not SDR, which is confusing) is a 100 watt bulb even if he isn’t always right.

My agent, who is fairly well connected, says the same thing when he isn’t ranting about the recent changes to the appraisal process.

Some parts of the market are seeing some rises, but that’s the natural result of Helicopter Ben’s interest rate manipulation, the $8k tax credit, and other chicanery going on right now.

In my own case, the max my wife and I could responsibly offer went from $215k to $240k (yes, we are bottom feeders) in the last nine months or so. I doubt we’re the only ones.

[drboom]

[quote=deadzone]SDR, did you flunk Econ 101?

If in fact “There is alot more demand than supply right now” then home prices would be rising in San Diego right now. That is clearly not happening. While everybody knows that supply is being artificially held back, obviously not enough to cause prices to rise. Bottom line, there is NOT more demand than supply. [/quote]

No, sdr (not SDR, which is confusing) is a 100 watt bulb even if he isn’t always right.

My agent, who is fairly well connected, says the same thing when he isn’t ranting about the recent changes to the appraisal process.

Some parts of the market are seeing some rises, but that’s the natural result of Helicopter Ben’s interest rate manipulation, the $8k tax credit, and other chicanery going on right now.

In my own case, the max my wife and I could responsibly offer went from $215k to $240k (yes, we are bottom feeders) in the last nine months or so. I doubt we’re the only ones.

[drboom]

[quote=deadzone]SDR, did you flunk Econ 101?

If in fact “There is alot more demand than supply right now” then home prices would be rising in San Diego right now. That is clearly not happening. While everybody knows that supply is being artificially held back, obviously not enough to cause prices to rise. Bottom line, there is NOT more demand than supply. [/quote]

No, sdr (not SDR, which is confusing) is a 100 watt bulb even if he isn’t always right.

My agent, who is fairly well connected, says the same thing when he isn’t ranting about the recent changes to the appraisal process.

Some parts of the market are seeing some rises, but that’s the natural result of Helicopter Ben’s interest rate manipulation, the $8k tax credit, and other chicanery going on right now.

In my own case, the max my wife and I could responsibly offer went from $215k to $240k (yes, we are bottom feeders) in the last nine months or so. I doubt we’re the only ones.

[Author]

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