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  • January 23, 2013 at 9:48 AM #758302
    The-Shoveler
    Participant

    [quote=flu][quote=AN]Wow, they just increased the price by $9900 or 5.5%.[/quote]

    You know, I was gonna say good luck finding a buyer for a 1/1 @ $180k…

    Then again, we saw one go recently for $165k…Maybe someone will bite..[/quote]

    At this point now I keep hoping for a market crash,
    But there is just not the number of crazy buyers with crazy loans like there were in 2005-6. so I don’t see the impetuous for a crash, (well unless Europe or Iran, but I think they are almost off the table so it would need to come from somewhere else).

    Which also makes me nervous about the Stock market as well, there is just almost nothing to fear, which makes me afraid.

    January 23, 2013 at 9:53 AM #758303
    Coronita
    Participant

    Well that was quick…

    http://www.sdlookup.com/MLS-130003875-11011_Westonhill_Dr_San_Diego_CA_92126

    “Short sale. Sold before mls”

    January 23, 2013 at 10:04 AM #758304
    The-Shoveler
    Participant

    [quote=flu]Well that was quick…

    http://www.sdlookup.com/MLS-130003875-11011_Westonhill_Dr_San_Diego_CA_92126

    “Short sale. Sold before mls”[/quote]

    There are just very few REO’s anymore, short sales seem more real now although I still see “short sales that are not really for sale”, (ie.. no trespassing signs on property, very hard to get a viewing etc…)
    If you see the later, it’s not for sale, move on.
    But there are more real short sales now.

    January 23, 2013 at 10:45 AM #758308
    an
    Participant

    [quote=flu]Well that was quick…

    http://www.sdlookup.com/MLS-130003875-11011_Westonhill_Dr_San_Diego_CA_92126

    “Short sale. Sold before mls”[/quote]
    Yeah, that’s just crazy. Where can I get in on deals like that.

    January 24, 2013 at 12:24 AM #758401
    CA renter
    Participant

    [quote=The-Shoveler][quote=flu][quote=AN]Wow, they just increased the price by $9900 or 5.5%.[/quote]

    You know, I was gonna say good luck finding a buyer for a 1/1 @ $180k…

    Then again, we saw one go recently for $165k…Maybe someone will bite..[/quote]

    At this point now I keep hoping for a market crash,
    But there is just not the number of crazy buyers with crazy loans like there were in 2005-6. so I don’t see the impetuous for a crash, (well unless Europe or Iran, but I think they are almost off the table so it would need to come from somewhere else).

    Which also makes me nervous about the Stock market as well, there is just almost nothing to fear, which makes me afraid.[/quote]

    The two biggest possible threats, IMHO, are higher interest rates and/or a drastic drop in demand which is entirely possible given the fact that most people are not seeing wage increases in the face of ever-rising costs for basic necessities. I also think more people are grasping the fact that we will not likely see a repeat of the past 50-60 years, but will see instead a more deflationary era as we unwind the incredible leverage taken on over the past few decades.

    January 25, 2013 at 12:53 AM #758532
    an
    Participant

    [quote=AN]Right now, there are only 18 SFR and 5 condo for sale. The supply is pretty horrible right now.[/quote]
    Spring hasn’t even started yet and it looks like inventory has already gotten worse. Now, there are only 16 SFR and 4 condo for sale today (active).

    January 25, 2013 at 8:37 AM #758536
    Coronita
    Participant

    [quote=AN][quote=AN]Right now, there are only 18 SFR and 5 condo for sale. The supply is pretty horrible right now.[/quote]
    Spring hasn’t even started yet and it looks like inventory has already gotten worse. Now, there are only 16 SFR and 4 condo for sale today (active).[/quote]

    Lol… Strong buyers left and right…Loans? People aren’t taking loans out.

    I don’t see things getting much better unless we see a price bump….We’re more likely to get hit by an asteroid than to have demand slow down because of people’s salary … And I’d say the employment situation in Sorrento Valley keeps getting better.
    People still underestimate the pool of strong buyers out there. Some of them being institutional I guess now.

    Where’s that flood of inventory we should have seen now? Where are those shadow inventories that people have been predicting?

    Week Houses Condos Total

    1/20/2013 51 37 92
    01/13/2013 53 37 93
    01/06/2013 56 35 94
    01/01/2013 58 34 96
    12/30/2012 62 36 102
    12/23/2012 60 38 102
    12/16/2012 61 43 109
    12/09/2012 61 47 112
    12/02/2012 63 46 112
    11/25/2012 68 48 120
    11/18/2012 68 49 121
    11/11/2012 69 52 125
    11/04/2012 66 50 121
    10/28/2012 70 53 127
    10/21/2012 66 53 124
    10/14/2012 68 50 122
    10/07/2012 77 50 132
    09/30/2012 82 49 134
    09/23/2012 84 54 141
    09/16/2012 84 55 143
    09/09/2012 84 55 143
    09/02/2012 91 57 150
    08/26/2012 93 55 150
    08/19/2012 93 57 153
    08/12/2012 90 60 152
    08/05/2012 87 60 149

    Although I’m not completely off the sideline in cash, I can’t help but feel my net worth relatively speaking is shrinking when assets left and right are getting snatched up when we have markets going up they way they have been going.

    God, I wish the government instituted a federal mandated program, “no investor get’s left behind”….

    This is royal suckville.

    January 25, 2013 at 9:38 AM #758538
    an
    Participant

    flu, I know what you mean. I just put an offer on a place 4% above asking and it was outbid. Not sure what the closed price would be and whether it’s a cash buyer or not, we’ll have to wait and see.

    January 25, 2013 at 9:45 AM #758539
    Coronita
    Participant

    [quote=AN]flu, I know what you mean. I just put an offer on a place 4% above asking and it was outbid. Not sure what the closed price would be and whether it’s a cash buyer or not, we’ll have to wait and see.[/quote]

    You sure the other person wasn’t me? 🙂
    Oh wait, someone had a higher bid than me too….

    🙂

    January 25, 2013 at 9:52 AM #758541
    an
    Participant

    [quote=flu][quote=AN]flu, I know what you mean. I just put an offer on a place 4% above asking and it was outbid. Not sure what the closed price would be and whether it’s a cash buyer or not, we’ll have to wait and see.[/quote]

    You sure the other person wasn’t me? 🙂
    Oh wait, someone had a higher bid than me too….

    :)[/quote]
    You motha…. 😀

    January 25, 2013 at 11:39 AM #758544
    Coronita
    Participant

    [quote=AN][quote=flu][quote=AN]flu, I know what you mean. I just put an offer on a place 4% above asking and it was outbid. Not sure what the closed price would be and whether it’s a cash buyer or not, we’ll have to wait and see.[/quote]

    You sure the other person wasn’t me? 🙂
    Oh wait, someone had a higher bid than me too….

    :)[/quote]
    You motha…. :-D[/quote]

    Well, just go into my neck of the woods and start bidding up the place yourself, and drive me crazy.. I’m pretty confident people do that too…

    It’s pretty pathetic. I look in my hood, it’s not pretty in inventory for a primary upgrade or investment. I look in your hood, and your hood’s inventory is even worse.

    You guys living there are paid way too much. Pretty soon Im gonna start seeing lizards from your hood dressed with prada coats and shoes and dogs with designer leashes, and I’ll have to start paying for parking on the sidewalks.

    January 25, 2013 at 11:41 AM #758545
    Coronita
    Participant

    You know… maybe that’s the strategy AN… kinda like storage wars…

    We should go in and bid up the places and let the final person overbid us…Drain everyone else’s fund by having them overpay…..Let everyone else run out of money first…

    January 25, 2013 at 1:45 PM #758548
    earlyretirement
    Participant

    [quote=flu][quote=AN]
    Some of them being institutional I guess now.

    [/quote]

    I was always curious how much institutional buying there is in San Diego. My friend/client lives in Sacramento and he is big time into real estate. He himself bought 30 properties last year alone (most with cash).

    He told me that Blackstone purchased 1,200 homes in the past 5 months alone in Sacramento so it’s difficult to find any good deals now.

    Any one have a clue how much institutional buying is going on in San Diego?

    January 25, 2013 at 1:48 PM #758549
    sdduuuude
    Participant

    [quote=flu]You know… maybe that’s the strategy AN… kinda like storage wars…

    We should go in and bid up the places and let the final person overbid us…Drain everyone else’s fund by having them overpay…..Let everyone else run out of money first…[/quote]

    Yes, because the people on storage wars are so brilliant and wealthy !

    January 25, 2013 at 2:21 PM #758553
    The-Shoveler
    Participant

    [quote=sdduuuude][quote=flu]You know… maybe that’s the strategy AN… kinda like storage wars…

    We should go in and bid up the places and let the final person overbid us…Drain everyone else’s fund by having them overpay…..Let everyone else run out of money first…[/quote]

    Yes, because the people on storage wars are so brilliant and wealthy ![/quote]

    Hester?
    Just kidding,

    anyway it kind of seems surreal to me, kind of like the matrix, (maybe scaredy is right).

    Something is not right.

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