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waiting for bottom.
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February 14, 2008 at 7:04 PM #153699February 14, 2008 at 8:53 PM #153405
waitingtobuycarlsbad
ParticipantThe Union Tribune misses the point!
The Union Tribune. “So far, said DataQuick analyst John Karevoll, home selling has involved a great deal of distressed properties, nearly 50 percent of all San Diego sales in January involved foreclosures and defaulted homes.”
“‘Bad as it is for those involved, it is something that can work its way through the system,’ he said. ‘But if we add in a recession, then prices could go back to where they were in 2004.’”
This guy misses the point. The prices are already at 2004 levels. The “foreclosures and defaulted homes” are the market. All real estate must compete. If houses sells at a 2004 price, the market is at the 2004 level.
February 14, 2008 at 8:53 PM #153675ParticipantThe Union Tribune misses the point!
The Union Tribune. “So far, said DataQuick analyst John Karevoll, home selling has involved a great deal of distressed properties, nearly 50 percent of all San Diego sales in January involved foreclosures and defaulted homes.”
“‘Bad as it is for those involved, it is something that can work its way through the system,’ he said. ‘But if we add in a recession, then prices could go back to where they were in 2004.’”
This guy misses the point. The prices are already at 2004 levels. The “foreclosures and defaulted homes” are the market. All real estate must compete. If houses sells at a 2004 price, the market is at the 2004 level.
February 14, 2008 at 8:53 PM #153696ParticipantThe Union Tribune misses the point!
The Union Tribune. “So far, said DataQuick analyst John Karevoll, home selling has involved a great deal of distressed properties, nearly 50 percent of all San Diego sales in January involved foreclosures and defaulted homes.”
“‘Bad as it is for those involved, it is something that can work its way through the system,’ he said. ‘But if we add in a recession, then prices could go back to where they were in 2004.’”
This guy misses the point. The prices are already at 2004 levels. The “foreclosures and defaulted homes” are the market. All real estate must compete. If houses sells at a 2004 price, the market is at the 2004 level.
February 14, 2008 at 8:53 PM #153698ParticipantThe Union Tribune misses the point!
The Union Tribune. “So far, said DataQuick analyst John Karevoll, home selling has involved a great deal of distressed properties, nearly 50 percent of all San Diego sales in January involved foreclosures and defaulted homes.”
“‘Bad as it is for those involved, it is something that can work its way through the system,’ he said. ‘But if we add in a recession, then prices could go back to where they were in 2004.’”
This guy misses the point. The prices are already at 2004 levels. The “foreclosures and defaulted homes” are the market. All real estate must compete. If houses sells at a 2004 price, the market is at the 2004 level.
February 14, 2008 at 8:53 PM #153776ParticipantThe Union Tribune misses the point!
The Union Tribune. “So far, said DataQuick analyst John Karevoll, home selling has involved a great deal of distressed properties, nearly 50 percent of all San Diego sales in January involved foreclosures and defaulted homes.”
“‘Bad as it is for those involved, it is something that can work its way through the system,’ he said. ‘But if we add in a recession, then prices could go back to where they were in 2004.’”
This guy misses the point. The prices are already at 2004 levels. The “foreclosures and defaulted homes” are the market. All real estate must compete. If houses sells at a 2004 price, the market is at the 2004 level.
February 14, 2008 at 9:00 PM #153415ParticipantSorry I failed to give the rest of his quote:
“The current San Diego median is already back to those levels, he acknowledged, but that’s because distressed properties are selling at a sizable discount. In a recession, values of all properties would drop.”
“‘If we do start to see that, then things are going to be grim, to put it mildly,’ he said.”
There is no difference between “distressed” properties and “all” properties. A comp is a comp is a comp.
February 14, 2008 at 9:00 PM #153685ParticipantSorry I failed to give the rest of his quote:
“The current San Diego median is already back to those levels, he acknowledged, but that’s because distressed properties are selling at a sizable discount. In a recession, values of all properties would drop.”
“‘If we do start to see that, then things are going to be grim, to put it mildly,’ he said.”
There is no difference between “distressed” properties and “all” properties. A comp is a comp is a comp.
February 14, 2008 at 9:00 PM #153706ParticipantSorry I failed to give the rest of his quote:
“The current San Diego median is already back to those levels, he acknowledged, but that’s because distressed properties are selling at a sizable discount. In a recession, values of all properties would drop.”
“‘If we do start to see that, then things are going to be grim, to put it mildly,’ he said.”
There is no difference between “distressed” properties and “all” properties. A comp is a comp is a comp.
February 14, 2008 at 9:00 PM #153708ParticipantSorry I failed to give the rest of his quote:
“The current San Diego median is already back to those levels, he acknowledged, but that’s because distressed properties are selling at a sizable discount. In a recession, values of all properties would drop.”
“‘If we do start to see that, then things are going to be grim, to put it mildly,’ he said.”
There is no difference between “distressed” properties and “all” properties. A comp is a comp is a comp.
February 14, 2008 at 9:00 PM #153786ParticipantSorry I failed to give the rest of his quote:
“The current San Diego median is already back to those levels, he acknowledged, but that’s because distressed properties are selling at a sizable discount. In a recession, values of all properties would drop.”
“‘If we do start to see that, then things are going to be grim, to put it mildly,’ he said.”
There is no difference between “distressed” properties and “all” properties. A comp is a comp is a comp.
February 15, 2008 at 7:19 AM #153469Nor-LA-SD-guy
ParticipantNor-La-SD-Guy
No expert claim here, But My theory on this RE bust is this,RE prices will stabilize at the maximum collective unhappiness Level,
Ie.. At the price where owners hoping for the return to 2005 highs give up hope,
And at the price that will still be too expensive for most to afford (except maybe Temecula valley and like areas where I think we are already seeing some good buying points here and there in My opinion ).
Good luck to all.
February 15, 2008 at 7:19 AM #153739ParticipantNor-La-SD-Guy
No expert claim here, But My theory on this RE bust is this,RE prices will stabilize at the maximum collective unhappiness Level,
Ie.. At the price where owners hoping for the return to 2005 highs give up hope,
And at the price that will still be too expensive for most to afford (except maybe Temecula valley and like areas where I think we are already seeing some good buying points here and there in My opinion ).
Good luck to all.
February 15, 2008 at 7:19 AM #153760ParticipantNor-La-SD-Guy
No expert claim here, But My theory on this RE bust is this,RE prices will stabilize at the maximum collective unhappiness Level,
Ie.. At the price where owners hoping for the return to 2005 highs give up hope,
And at the price that will still be too expensive for most to afford (except maybe Temecula valley and like areas where I think we are already seeing some good buying points here and there in My opinion ).
Good luck to all.
February 15, 2008 at 7:19 AM #153765ParticipantNor-La-SD-Guy
No expert claim here, But My theory on this RE bust is this,RE prices will stabilize at the maximum collective unhappiness Level,
Ie.. At the price where owners hoping for the return to 2005 highs give up hope,
And at the price that will still be too expensive for most to afford (except maybe Temecula valley and like areas where I think we are already seeing some good buying points here and there in My opinion ).
Good luck to all.
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