San Marcos Price Reduction

[ocrenter]

this never was about realtor bashing. when I bash realtors I make sure to pull the capitalized and trademarked “REALTOR®.” and sdr and SDR have contributed way too much to ever deserve that.

I do echo the call for patience. just sit back for a moment and think about this. When in history have we seen homes drop $200-$300k just in a year? I remember my folks being unhappy when their equity in WestLA dropped by $30k from peak to valley from ’89 to ’96. good grief, they are STILL talking about it like it was yesterday. And now we see drops of $200k in a single year and people are throwing out quotes about how certain predictions weren’t met (in reference to the 4S REO).

[ocrenter]

this never was about realtor bashing. when I bash realtors I make sure to pull the capitalized and trademarked “REALTOR®.” and sdr and SDR have contributed way too much to ever deserve that.

I do echo the call for patience. just sit back for a moment and think about this. When in history have we seen homes drop $200-$300k just in a year? I remember my folks being unhappy when their equity in WestLA dropped by $30k from peak to valley from ’89 to ’96. good grief, they are STILL talking about it like it was yesterday. And now we see drops of $200k in a single year and people are throwing out quotes about how certain predictions weren’t met (in reference to the 4S REO).

[ocrenter]

this never was about realtor bashing. when I bash realtors I make sure to pull the capitalized and trademarked “REALTOR®.” and sdr and SDR have contributed way too much to ever deserve that.

I do echo the call for patience. just sit back for a moment and think about this. When in history have we seen homes drop $200-$300k just in a year? I remember my folks being unhappy when their equity in WestLA dropped by $30k from peak to valley from ’89 to ’96. good grief, they are STILL talking about it like it was yesterday. And now we see drops of $200k in a single year and people are throwing out quotes about how certain predictions weren’t met (in reference to the 4S REO).

[Bugs]

Years, not months. The spike took 7 years to build. If we are predicting that the market will eventually overcorrect below the long term trend it’s gonna take at least 7 years (from 2005) to get there.

[Bugs]

Years, not months. The spike took 7 years to build. If we are predicting that the market will eventually overcorrect below the long term trend it’s gonna take at least 7 years (from 2005) to get there.

[Bugs]

Years, not months. The spike took 7 years to build. If we are predicting that the market will eventually overcorrect below the long term trend it’s gonna take at least 7 years (from 2005) to get there.

[Bugs]

Years, not months. The spike took 7 years to build. If we are predicting that the market will eventually overcorrect below the long term trend it’s gonna take at least 7 years (from 2005) to get there.

[Bugs]

Years, not months. The spike took 7 years to build. If we are predicting that the market will eventually overcorrect below the long term trend it’s gonna take at least 7 years (from 2005) to get there.

[patientlywaiting]

Just because people do certain things, doesn’t mean you have to. And they are not necessarily good examples to follow. Watch what others do and learn from their mistakes.

Buying a house is like marriage. It takes commitment. If you’re not sure, then don’t buy; otherwise, divorcing the POS will cost you very dearly.

[patientlywaiting]

Just because people do certain things, doesn’t mean you have to. And they are not necessarily good examples to follow. Watch what others do and learn from their mistakes.

Buying a house is like marriage. It takes commitment. If you’re not sure, then don’t buy; otherwise, divorcing the POS will cost you very dearly.

[patientlywaiting]

Just because people do certain things, doesn’t mean you have to. And they are not necessarily good examples to follow. Watch what others do and learn from their mistakes.

Buying a house is like marriage. It takes commitment. If you’re not sure, then don’t buy; otherwise, divorcing the POS will cost you very dearly.

[patientlywaiting]

Just because people do certain things, doesn’t mean you have to. And they are not necessarily good examples to follow. Watch what others do and learn from their mistakes.

Buying a house is like marriage. It takes commitment. If you’re not sure, then don’t buy; otherwise, divorcing the POS will cost you very dearly.

[patientlywaiting]

Just because people do certain things, doesn’t mean you have to. And they are not necessarily good examples to follow. Watch what others do and learn from their mistakes.

Buying a house is like marriage. It takes commitment. If you’re not sure, then don’t buy; otherwise, divorcing the POS will cost you very dearly.

[sdrealtor]

Time to resurrect an old thread again. Here’s where we left off:

“Those looking for a dramtaic crash to 500K have been sadly disappointed.” sdrealtor, 6/06

“San Marcos currently has a 1 year supply of homes for sale, now we got 4 foreclosures in one single community. I’m now looking at these properties going down into low $400,000’s mid to late next year.” ocrenter 8/06

“You can believe what you want but there is no way you will see the 2300 sq ft model that was the basis of this thread from the outset sell at a price close to the low 400’s. End of story.” sdrealtor, 11/07

491 CAMINO VERDE, San Marcos, CA 92078 (1909 sqft)
–11/19/07: asking $396,000

584 VIA DEL CABALLO, San Marcos, CA 92078 (2259 sqft)
–11/21/07: asking $430,000

“the story has just begun.”ocrenter 11/07

414 Camino Hermoso, San Marcos, CA 92078 (2,358 sqft)
CLOSED ESCROW on 4/28/08 for $515,000 to buyer with 20% down.

FWIW, 584 Via Del Caballo which was a horrible house with 5 feet of backyard and massive slope (100’s of feet high) directly behind it. It closed for $447,000 in early March.

6 months later it looks like sdrealtor was spot on!

Going forward is another story but for now, I’ll crow a bit.

[sdrealtor]

Time to resurrect an old thread again. Here’s where we left off:

“Those looking for a dramtaic crash to 500K have been sadly disappointed.” sdrealtor, 6/06

“San Marcos currently has a 1 year supply of homes for sale, now we got 4 foreclosures in one single community. I’m now looking at these properties going down into low $400,000’s mid to late next year.” ocrenter 8/06

“You can believe what you want but there is no way you will see the 2300 sq ft model that was the basis of this thread from the outset sell at a price close to the low 400’s. End of story.” sdrealtor, 11/07

491 CAMINO VERDE, San Marcos, CA 92078 (1909 sqft)
–11/19/07: asking $396,000

584 VIA DEL CABALLO, San Marcos, CA 92078 (2259 sqft)
–11/21/07: asking $430,000

“the story has just begun.”ocrenter 11/07

414 Camino Hermoso, San Marcos, CA 92078 (2,358 sqft)
CLOSED ESCROW on 4/28/08 for $515,000 to buyer with 20% down.

FWIW, 584 Via Del Caballo which was a horrible house with 5 feet of backyard and massive slope (100’s of feet high) directly behind it. It closed for $447,000 in early March.

6 months later it looks like sdrealtor was spot on!

Going forward is another story but for now, I’ll crow a bit.

[Author]

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