So I’m seriously thinking of jumping in

[Aecetia]

I agree, partypup. I am also surprised to see people buying in 2008, but I keep finding bank owned properties. I saw one a couple of days ago that was bought about 6 weeks ago. Huh? Some people go through life blithely unaware and wonder why they are victims. Others perhaps know too much and that also has its downside. I prefer to stay informed. I am not trying to time the bottom, but even the blind squirrel can see that it is still not here and may not be here for several years.

[urbanrealtor]

[quote=Aecetia]I agree, partypup. I am also surprised to see people buying in 2008, but I keep finding bank owned properties. I saw one a couple of days ago that was bought about 6 weeks ago. Huh? Some people go through life blithely unaware and wonder why they are victims. Others perhaps know too much and that also has its downside. I prefer to stay informed. I am not trying to time the bottom, but even the blind squirrel can see that it is still not here and may not be here for several years.[/quote]

Yeah I don’t think that making a move right now is quite that naive or stupid.
I can see the argument prices may go down further. The better way of looking at it I think is to say that any move should be underpinned by fundamentals. So a buyer should be focusing on what he can get for his money. There will be very very cheap things in San Diego for some time. However, as time goes on, the cheapening trend will start to tilt a lot towards the crappier places. This is also a fundamental aspect. Real estate does not have all the features of a perfect market. In this case that means that the goods for sale are not entirely interchangeable. There will be fewer good options in Hillcrest and University City and Encinitas. There will still be cheap options in Oceanside, Chula Vista and City Heights.
The most long-lasting of the better options will be those in good areas that were overbuilt and overlent. Those would be Downtown, Otay Lakes, Mira Mesa, and a few east Carlsbad.

[urbanrealtor]

[quote=Aecetia]I agree, partypup. I am also surprised to see people buying in 2008, but I keep finding bank owned properties. I saw one a couple of days ago that was bought about 6 weeks ago. Huh? Some people go through life blithely unaware and wonder why they are victims. Others perhaps know too much and that also has its downside. I prefer to stay informed. I am not trying to time the bottom, but even the blind squirrel can see that it is still not here and may not be here for several years.[/quote]

Yeah I don’t think that making a move right now is quite that naive or stupid.
I can see the argument prices may go down further. The better way of looking at it I think is to say that any move should be underpinned by fundamentals. So a buyer should be focusing on what he can get for his money. There will be very very cheap things in San Diego for some time. However, as time goes on, the cheapening trend will start to tilt a lot towards the crappier places. This is also a fundamental aspect. Real estate does not have all the features of a perfect market. In this case that means that the goods for sale are not entirely interchangeable. There will be fewer good options in Hillcrest and University City and Encinitas. There will still be cheap options in Oceanside, Chula Vista and City Heights.
The most long-lasting of the better options will be those in good areas that were overbuilt and overlent. Those would be Downtown, Otay Lakes, Mira Mesa, and a few east Carlsbad.

[urbanrealtor]

[quote=Aecetia]I agree, partypup. I am also surprised to see people buying in 2008, but I keep finding bank owned properties. I saw one a couple of days ago that was bought about 6 weeks ago. Huh? Some people go through life blithely unaware and wonder why they are victims. Others perhaps know too much and that also has its downside. I prefer to stay informed. I am not trying to time the bottom, but even the blind squirrel can see that it is still not here and may not be here for several years.[/quote]

Yeah I don’t think that making a move right now is quite that naive or stupid.
I can see the argument prices may go down further. The better way of looking at it I think is to say that any move should be underpinned by fundamentals. So a buyer should be focusing on what he can get for his money. There will be very very cheap things in San Diego for some time. However, as time goes on, the cheapening trend will start to tilt a lot towards the crappier places. This is also a fundamental aspect. Real estate does not have all the features of a perfect market. In this case that means that the goods for sale are not entirely interchangeable. There will be fewer good options in Hillcrest and University City and Encinitas. There will still be cheap options in Oceanside, Chula Vista and City Heights.
The most long-lasting of the better options will be those in good areas that were overbuilt and overlent. Those would be Downtown, Otay Lakes, Mira Mesa, and a few east Carlsbad.

[urbanrealtor]

[quote=Aecetia]I agree, partypup. I am also surprised to see people buying in 2008, but I keep finding bank owned properties. I saw one a couple of days ago that was bought about 6 weeks ago. Huh? Some people go through life blithely unaware and wonder why they are victims. Others perhaps know too much and that also has its downside. I prefer to stay informed. I am not trying to time the bottom, but even the blind squirrel can see that it is still not here and may not be here for several years.[/quote]

Yeah I don’t think that making a move right now is quite that naive or stupid.
I can see the argument prices may go down further. The better way of looking at it I think is to say that any move should be underpinned by fundamentals. So a buyer should be focusing on what he can get for his money. There will be very very cheap things in San Diego for some time. However, as time goes on, the cheapening trend will start to tilt a lot towards the crappier places. This is also a fundamental aspect. Real estate does not have all the features of a perfect market. In this case that means that the goods for sale are not entirely interchangeable. There will be fewer good options in Hillcrest and University City and Encinitas. There will still be cheap options in Oceanside, Chula Vista and City Heights.
The most long-lasting of the better options will be those in good areas that were overbuilt and overlent. Those would be Downtown, Otay Lakes, Mira Mesa, and a few east Carlsbad.

[urbanrealtor]

[quote=Aecetia]I agree, partypup. I am also surprised to see people buying in 2008, but I keep finding bank owned properties. I saw one a couple of days ago that was bought about 6 weeks ago. Huh? Some people go through life blithely unaware and wonder why they are victims. Others perhaps know too much and that also has its downside. I prefer to stay informed. I am not trying to time the bottom, but even the blind squirrel can see that it is still not here and may not be here for several years.[/quote]

Yeah I don’t think that making a move right now is quite that naive or stupid.
I can see the argument prices may go down further. The better way of looking at it I think is to say that any move should be underpinned by fundamentals. So a buyer should be focusing on what he can get for his money. There will be very very cheap things in San Diego for some time. However, as time goes on, the cheapening trend will start to tilt a lot towards the crappier places. This is also a fundamental aspect. Real estate does not have all the features of a perfect market. In this case that means that the goods for sale are not entirely interchangeable. There will be fewer good options in Hillcrest and University City and Encinitas. There will still be cheap options in Oceanside, Chula Vista and City Heights.
The most long-lasting of the better options will be those in good areas that were overbuilt and overlent. Those would be Downtown, Otay Lakes, Mira Mesa, and a few east Carlsbad.

[SD Realtor]

carlsbadworker I understand your thoughts but there are alot of additional variables involved. If you take the long look at things, I do think that yes we could see the drops you are discussing at the end of the year. By the same token at the end of 09 or even into 10 and 11 we may see just as many walk aways if not more. It actually would not surprise me if in the spring of 09 we see a little bump…

Actually I do agree with urbanrealtor that we may see interest rates run down a tad later this year if we see a bond market rally. It is hard to say. I think we all agree that in 3 years the interest rate environment should be significantly higher. Honestly, I am surprised that as many people are buying now as I see buying. However the people I see/know who are buying, are not doing so because they think the market is at a bottom. They acknowledge more downside but they are buying for reasons that are more related to a lifestyle they want. Most of them are buying with pretty significant downpayments and with budgets that do not bulge due to the housing payment they are about to undertake.

This is not an endorsement for you to buy nor advocating a near term market bottom. Do what works for you, knowing that at least in my opinion we are far off from a bottom.

[SD Realtor]

carlsbadworker I understand your thoughts but there are alot of additional variables involved. If you take the long look at things, I do think that yes we could see the drops you are discussing at the end of the year. By the same token at the end of 09 or even into 10 and 11 we may see just as many walk aways if not more. It actually would not surprise me if in the spring of 09 we see a little bump…

Actually I do agree with urbanrealtor that we may see interest rates run down a tad later this year if we see a bond market rally. It is hard to say. I think we all agree that in 3 years the interest rate environment should be significantly higher. Honestly, I am surprised that as many people are buying now as I see buying. However the people I see/know who are buying, are not doing so because they think the market is at a bottom. They acknowledge more downside but they are buying for reasons that are more related to a lifestyle they want. Most of them are buying with pretty significant downpayments and with budgets that do not bulge due to the housing payment they are about to undertake.

This is not an endorsement for you to buy nor advocating a near term market bottom. Do what works for you, knowing that at least in my opinion we are far off from a bottom.

[SD Realtor]

carlsbadworker I understand your thoughts but there are alot of additional variables involved. If you take the long look at things, I do think that yes we could see the drops you are discussing at the end of the year. By the same token at the end of 09 or even into 10 and 11 we may see just as many walk aways if not more. It actually would not surprise me if in the spring of 09 we see a little bump…

Actually I do agree with urbanrealtor that we may see interest rates run down a tad later this year if we see a bond market rally. It is hard to say. I think we all agree that in 3 years the interest rate environment should be significantly higher. Honestly, I am surprised that as many people are buying now as I see buying. However the people I see/know who are buying, are not doing so because they think the market is at a bottom. They acknowledge more downside but they are buying for reasons that are more related to a lifestyle they want. Most of them are buying with pretty significant downpayments and with budgets that do not bulge due to the housing payment they are about to undertake.

This is not an endorsement for you to buy nor advocating a near term market bottom. Do what works for you, knowing that at least in my opinion we are far off from a bottom.

[SD Realtor]

carlsbadworker I understand your thoughts but there are alot of additional variables involved. If you take the long look at things, I do think that yes we could see the drops you are discussing at the end of the year. By the same token at the end of 09 or even into 10 and 11 we may see just as many walk aways if not more. It actually would not surprise me if in the spring of 09 we see a little bump…

Actually I do agree with urbanrealtor that we may see interest rates run down a tad later this year if we see a bond market rally. It is hard to say. I think we all agree that in 3 years the interest rate environment should be significantly higher. Honestly, I am surprised that as many people are buying now as I see buying. However the people I see/know who are buying, are not doing so because they think the market is at a bottom. They acknowledge more downside but they are buying for reasons that are more related to a lifestyle they want. Most of them are buying with pretty significant downpayments and with budgets that do not bulge due to the housing payment they are about to undertake.

This is not an endorsement for you to buy nor advocating a near term market bottom. Do what works for you, knowing that at least in my opinion we are far off from a bottom.

[SD Realtor]

carlsbadworker I understand your thoughts but there are alot of additional variables involved. If you take the long look at things, I do think that yes we could see the drops you are discussing at the end of the year. By the same token at the end of 09 or even into 10 and 11 we may see just as many walk aways if not more. It actually would not surprise me if in the spring of 09 we see a little bump…

Actually I do agree with urbanrealtor that we may see interest rates run down a tad later this year if we see a bond market rally. It is hard to say. I think we all agree that in 3 years the interest rate environment should be significantly higher. Honestly, I am surprised that as many people are buying now as I see buying. However the people I see/know who are buying, are not doing so because they think the market is at a bottom. They acknowledge more downside but they are buying for reasons that are more related to a lifestyle they want. Most of them are buying with pretty significant downpayments and with budgets that do not bulge due to the housing payment they are about to undertake.

This is not an endorsement for you to buy nor advocating a near term market bottom. Do what works for you, knowing that at least in my opinion we are far off from a bottom.

[FLPSanDiego]

I’m not in any big rush really, just kind of tired of renting. No family, I’m single, have a good job, car is paid for. Other than living expenses, I have virtually no debt, just a small credit card balance.

[FLPSanDiego]

I’m not in any big rush really, just kind of tired of renting. No family, I’m single, have a good job, car is paid for. Other than living expenses, I have virtually no debt, just a small credit card balance.

[FLPSanDiego]

I’m not in any big rush really, just kind of tired of renting. No family, I’m single, have a good job, car is paid for. Other than living expenses, I have virtually no debt, just a small credit card balance.

[FLPSanDiego]

I’m not in any big rush really, just kind of tired of renting. No family, I’m single, have a good job, car is paid for. Other than living expenses, I have virtually no debt, just a small credit card balance.

[Author]

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