Home › Forums › Closed Forums › Buying and Selling RE › Should I should I not?
- This topic has 16 replies, 8 voices, and was last updated 17 years, 2 months ago by
Napolitana.
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October 13, 2007 at 2:31 PM #10603October 13, 2007 at 2:42 PM #88757
bsrsharma
ParticipantI think you can pick it up for 250K or less before Dec 2009.
October 13, 2007 at 2:42 PM #88764ParticipantI think you can pick it up for 250K or less before Dec 2009.
October 13, 2007 at 2:47 PM #88761temeculaguy
ParticipantYes it is (suicide that is). Undercutting 2005 by a little bit is no great shakes and hardly enough protection. Undercutting 2003 is a safer play. When is the million dollar question. Let me ask you this, when do you think it is going to go up? 6 months, NO! 2-3 years, probably NO! As soon as inventories fall for a few months in a row (seasoally adjusted), then you will know, use the force Luke, trust your instincts.
October 13, 2007 at 2:47 PM #88768ParticipantYes it is (suicide that is). Undercutting 2005 by a little bit is no great shakes and hardly enough protection. Undercutting 2003 is a safer play. When is the million dollar question. Let me ask you this, when do you think it is going to go up? 6 months, NO! 2-3 years, probably NO! As soon as inventories fall for a few months in a row (seasoally adjusted), then you will know, use the force Luke, trust your instincts.
October 13, 2007 at 2:48 PM #88763Bugs
ParticipantLet’s put it this way: How much do you make in a year? Now double it and ask yourself if you can really afford to throw that much money away just because you want to count yourself as a homeowner.
Values are declining, even in Banker’s Hill, and what might look like a good deal now will most likely look a lot different a year from now.
October 13, 2007 at 2:48 PM #88770ParticipantLet’s put it this way: How much do you make in a year? Now double it and ask yourself if you can really afford to throw that much money away just because you want to count yourself as a homeowner.
Values are declining, even in Banker’s Hill, and what might look like a good deal now will most likely look a lot different a year from now.
October 13, 2007 at 3:12 PM #88767davelj
ParticipantMy advice – worth exactly what you’re paying for it – is to wait until similar units are down to $350K… and reevaluate again. It’s still way to early. Continue to rent for a couple of years.
October 13, 2007 at 3:12 PM #88774ParticipantMy advice – worth exactly what you’re paying for it – is to wait until similar units are down to $350K… and reevaluate again. It’s still way to early. Continue to rent for a couple of years.
October 13, 2007 at 3:29 PM #88773
CoronitaParticipantLike I've been telling some of my younger coworkers. If you waited this long, why not wait a slightly longer?You got nothing to lose anyway.
If you stayed home waiting for the prom queen to drop by, wouldn't it suck if you fell asleep the minute she rang the doorbell? 🙂
October 13, 2007 at 3:29 PM #88780CoronitaParticipantLike I've been telling some of my younger coworkers. If you waited this long, why not wait a slightly longer?You got nothing to lose anyway.
If you stayed home waiting for the prom queen to drop by, wouldn't it suck if you fell asleep the minute she rang the doorbell? 🙂
October 13, 2007 at 3:51 PM #88777The OC Scam
ParticipantIt would NOT be real estate suicide if you plan on living in this little 2 bed condo for the next 10 years and you make over 120k a year then enjoy with 20% down!!
I think if you’re really considering a 2 bed condo you could do much better with REO listings. You can today get 25 to 35% off asking prices considered from the Banks. Remember when banks compete you WIN!!!
October 13, 2007 at 3:51 PM #88784ParticipantIt would NOT be real estate suicide if you plan on living in this little 2 bed condo for the next 10 years and you make over 120k a year then enjoy with 20% down!!
I think if you’re really considering a 2 bed condo you could do much better with REO listings. You can today get 25 to 35% off asking prices considered from the Banks. Remember when banks compete you WIN!!!
October 13, 2007 at 3:53 PM #88781Arraya
ParticipantAbsolutely suicide, I follow 92103 condos pretty closely. Alicante has held up a tad bit better than most up unil now. However, look at all the new builds. There is like 400 more units coming on the market here in the next couple months. The market is going to be completely saturated.
The current sales pace is around 30 per month last time I checked. There are roughly 200 listed now and about 100 or so unlisted new builds and REOs. If you add that all up with the new builds it will be close to 25 months supply of inventory!
I believe a properly functioning market is 3-5 months supply. Until all this excess inventory gets purchased prices will drop. There is no telling how long that will take. Though, I am dead certain it is not in the next 12-18 months.
October 13, 2007 at 3:53 PM #88788ParticipantAbsolutely suicide, I follow 92103 condos pretty closely. Alicante has held up a tad bit better than most up unil now. However, look at all the new builds. There is like 400 more units coming on the market here in the next couple months. The market is going to be completely saturated.
The current sales pace is around 30 per month last time I checked. There are roughly 200 listed now and about 100 or so unlisted new builds and REOs. If you add that all up with the new builds it will be close to 25 months supply of inventory!
I believe a properly functioning market is 3-5 months supply. Until all this excess inventory gets purchased prices will drop. There is no telling how long that will take. Though, I am dead certain it is not in the next 12-18 months.
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