San Diego RE market slowing? Inventory increasing?

[ctr70]

I agree on the REO’s (at least in terms of what I’ve seen). They used to be priced really well in in mid ’08 to mid ’09, but now they are way overpriced. I think there are much better deals to be had on short sales. They will wake up and smell the coffee soon and reduce prices.

[Waiting to feel the magic]

In one case that I am very familiar with because I’ve been watching both the neighborhood and the specific house for months, the agent is local. The bank is in LA. In this case I spoken directly with the agent. He seems to know that the property is over priced, but there’s really nothing he can do. In the end it’s the bank’s decision where to price it.

[Waiting to feel the magic]

In one case that I am very familiar with because I’ve been watching both the neighborhood and the specific house for months, the agent is local. The bank is in LA. In this case I spoken directly with the agent. He seems to know that the property is over priced, but there’s really nothing he can do. In the end it’s the bank’s decision where to price it.

[Waiting to feel the magic]

In one case that I am very familiar with because I’ve been watching both the neighborhood and the specific house for months, the agent is local. The bank is in LA. In this case I spoken directly with the agent. He seems to know that the property is over priced, but there’s really nothing he can do. In the end it’s the bank’s decision where to price it.

[Waiting to feel the magic]

In one case that I am very familiar with because I’ve been watching both the neighborhood and the specific house for months, the agent is local. The bank is in LA. In this case I spoken directly with the agent. He seems to know that the property is over priced, but there’s really nothing he can do. In the end it’s the bank’s decision where to price it.

[Waiting to feel the magic]

In one case that I am very familiar with because I’ve been watching both the neighborhood and the specific house for months, the agent is local. The bank is in LA. In this case I spoken directly with the agent. He seems to know that the property is over priced, but there’s really nothing he can do. In the end it’s the bank’s decision where to price it.

[garysears]

Not very scientific, but for Lakeside 92040 there are a total of 126 MLS listings, including land, condos, and SFR. 44 out of those 126 listings show a reduced price. Obviously some of the listings are newer and you wouldn’t expect everything to be reduced. But 35% reduced asking prices seems significant and mostly recent. I’m in escrow in the zipcode so I’ve been keeping a pretty close eye on it.

I think land prices might be really starting to crumble. One bank threw in the towel in late April, lowering the price for 9 acres raw land from 190k to 50k. That seems significant to me. That listing is still current if anyone is interested.

[garysears]

Not very scientific, but for Lakeside 92040 there are a total of 126 MLS listings, including land, condos, and SFR. 44 out of those 126 listings show a reduced price. Obviously some of the listings are newer and you wouldn’t expect everything to be reduced. But 35% reduced asking prices seems significant and mostly recent. I’m in escrow in the zipcode so I’ve been keeping a pretty close eye on it.

I think land prices might be really starting to crumble. One bank threw in the towel in late April, lowering the price for 9 acres raw land from 190k to 50k. That seems significant to me. That listing is still current if anyone is interested.

[garysears]

Not very scientific, but for Lakeside 92040 there are a total of 126 MLS listings, including land, condos, and SFR. 44 out of those 126 listings show a reduced price. Obviously some of the listings are newer and you wouldn’t expect everything to be reduced. But 35% reduced asking prices seems significant and mostly recent. I’m in escrow in the zipcode so I’ve been keeping a pretty close eye on it.

I think land prices might be really starting to crumble. One bank threw in the towel in late April, lowering the price for 9 acres raw land from 190k to 50k. That seems significant to me. That listing is still current if anyone is interested.

[garysears]

Not very scientific, but for Lakeside 92040 there are a total of 126 MLS listings, including land, condos, and SFR. 44 out of those 126 listings show a reduced price. Obviously some of the listings are newer and you wouldn’t expect everything to be reduced. But 35% reduced asking prices seems significant and mostly recent. I’m in escrow in the zipcode so I’ve been keeping a pretty close eye on it.

I think land prices might be really starting to crumble. One bank threw in the towel in late April, lowering the price for 9 acres raw land from 190k to 50k. That seems significant to me. That listing is still current if anyone is interested.

[garysears]

Not very scientific, but for Lakeside 92040 there are a total of 126 MLS listings, including land, condos, and SFR. 44 out of those 126 listings show a reduced price. Obviously some of the listings are newer and you wouldn’t expect everything to be reduced. But 35% reduced asking prices seems significant and mostly recent. I’m in escrow in the zipcode so I’ve been keeping a pretty close eye on it.

I think land prices might be really starting to crumble. One bank threw in the towel in late April, lowering the price for 9 acres raw land from 190k to 50k. That seems significant to me. That listing is still current if anyone is interested.

[jficquette]

[quote=garysears]Not very scientific, but for Lakeside 92040 there are a total of 126 MLS listings, including land, condos, and SFR. 44 out of those 126 listings show a reduced price. Obviously some of the listings are newer and you wouldn’t expect everything to be reduced. But 35% reduced asking prices seems significant and mostly recent. I’m in escrow in the zipcode so I’ve been keeping a pretty close eye on it.

I think land prices might be really starting to crumble. One bank threw in the towel in late April, lowering the price for 9 acres raw land from 190k to 50k. That seems significant to me. That listing is still current if anyone is interested.[/quote]

That sounds like a good deal. My problem is that I don’t trust California. They are going bankrupt and going to be taxing anything that they can. To get anything built on that land would probably be a living hell to go through with the city, county.

How is it zoned? probably best to grow strawberries on it if zoned for that.

Sorry for my bad attitude.

John

[jficquette]

[quote=garysears]Not very scientific, but for Lakeside 92040 there are a total of 126 MLS listings, including land, condos, and SFR. 44 out of those 126 listings show a reduced price. Obviously some of the listings are newer and you wouldn’t expect everything to be reduced. But 35% reduced asking prices seems significant and mostly recent. I’m in escrow in the zipcode so I’ve been keeping a pretty close eye on it.

I think land prices might be really starting to crumble. One bank threw in the towel in late April, lowering the price for 9 acres raw land from 190k to 50k. That seems significant to me. That listing is still current if anyone is interested.[/quote]

That sounds like a good deal. My problem is that I don’t trust California. They are going bankrupt and going to be taxing anything that they can. To get anything built on that land would probably be a living hell to go through with the city, county.

How is it zoned? probably best to grow strawberries on it if zoned for that.

Sorry for my bad attitude.

John

[jficquette]

[quote=garysears]Not very scientific, but for Lakeside 92040 there are a total of 126 MLS listings, including land, condos, and SFR. 44 out of those 126 listings show a reduced price. Obviously some of the listings are newer and you wouldn’t expect everything to be reduced. But 35% reduced asking prices seems significant and mostly recent. I’m in escrow in the zipcode so I’ve been keeping a pretty close eye on it.

I think land prices might be really starting to crumble. One bank threw in the towel in late April, lowering the price for 9 acres raw land from 190k to 50k. That seems significant to me. That listing is still current if anyone is interested.[/quote]

That sounds like a good deal. My problem is that I don’t trust California. They are going bankrupt and going to be taxing anything that they can. To get anything built on that land would probably be a living hell to go through with the city, county.

How is it zoned? probably best to grow strawberries on it if zoned for that.

Sorry for my bad attitude.

John

[jficquette]

[quote=garysears]Not very scientific, but for Lakeside 92040 there are a total of 126 MLS listings, including land, condos, and SFR. 44 out of those 126 listings show a reduced price. Obviously some of the listings are newer and you wouldn’t expect everything to be reduced. But 35% reduced asking prices seems significant and mostly recent. I’m in escrow in the zipcode so I’ve been keeping a pretty close eye on it.

I think land prices might be really starting to crumble. One bank threw in the towel in late April, lowering the price for 9 acres raw land from 190k to 50k. That seems significant to me. That listing is still current if anyone is interested.[/quote]

That sounds like a good deal. My problem is that I don’t trust California. They are going bankrupt and going to be taxing anything that they can. To get anything built on that land would probably be a living hell to go through with the city, county.

How is it zoned? probably best to grow strawberries on it if zoned for that.

Sorry for my bad attitude.

John

[Author]

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