Spring Buying Season

[sdnerd]

The rate in which MM has been impacted has been quite significant. Far quicker then I originally anticipated.

I think it still has a bit to fall, but I highly doubt there will be another 30% across the board fall in MM. Perhaps a long flat period.

MM has some nice areas, and some bad parts, but as some have pointed out it has a good location. You can get to all the high paying tech jobs, to numerous hospital locations, RB, PQ, etc quite quickly. I think rents will hold short term and increase long term.

Investors aside, a decent 3/2 in a good location like MM for $300k is a nice starter home for a couple where each person is making $50-60k. Especially as it pencils out to rents.

I expect to see a lot of people who bought in Temecula and commute to this general area moving back down to MM, or at least renting there.

The comment that often gets tossed around “Everyone who could buy a home the last few years has” is about as absurd as “They aren’t making any more land.”

We are nearly 8 years into this; I assure you 8 years ago the amount of people priced out of the market is quite substantial. New graduates, first time job, etc. A young couple where each person makes $50k, over the course of 8 years – that’s a measly $7,500 savings a year for that 20% down. And as long as one person remained employed you could cover the monthly expenses.

Just my .02; I wouldn’t bet on 3/2’s in MM at $200k though.

[an]

FormerSanDiegan, I completely agree with you. The magnitude of this decline is unprecedented. This is why I’ve been saying that no one will know how long this will take to reach the bottom. We might see another 20-30% drop by this time next year, which would bring MM down 60-70% from peak to trough. We might see MM stay flat for the next 10 years and let inflation catch up. We really don’t know until we start heading up again.

Like Rustico said, every house is different. You can find deals if you work really hard to find it and luck is on your side, even in this market. We all know median is a lagging indicator, so why would you let median dictate your opinion when the bottom occur? Especially when every house is different.

[an]

FormerSanDiegan, I completely agree with you. The magnitude of this decline is unprecedented. This is why I’ve been saying that no one will know how long this will take to reach the bottom. We might see another 20-30% drop by this time next year, which would bring MM down 60-70% from peak to trough. We might see MM stay flat for the next 10 years and let inflation catch up. We really don’t know until we start heading up again.

Like Rustico said, every house is different. You can find deals if you work really hard to find it and luck is on your side, even in this market. We all know median is a lagging indicator, so why would you let median dictate your opinion when the bottom occur? Especially when every house is different.

[an]

FormerSanDiegan, I completely agree with you. The magnitude of this decline is unprecedented. This is why I’ve been saying that no one will know how long this will take to reach the bottom. We might see another 20-30% drop by this time next year, which would bring MM down 60-70% from peak to trough. We might see MM stay flat for the next 10 years and let inflation catch up. We really don’t know until we start heading up again.

Like Rustico said, every house is different. You can find deals if you work really hard to find it and luck is on your side, even in this market. We all know median is a lagging indicator, so why would you let median dictate your opinion when the bottom occur? Especially when every house is different.

[an]

FormerSanDiegan, I completely agree with you. The magnitude of this decline is unprecedented. This is why I’ve been saying that no one will know how long this will take to reach the bottom. We might see another 20-30% drop by this time next year, which would bring MM down 60-70% from peak to trough. We might see MM stay flat for the next 10 years and let inflation catch up. We really don’t know until we start heading up again.

Like Rustico said, every house is different. You can find deals if you work really hard to find it and luck is on your side, even in this market. We all know median is a lagging indicator, so why would you let median dictate your opinion when the bottom occur? Especially when every house is different.

[an]

FormerSanDiegan, I completely agree with you. The magnitude of this decline is unprecedented. This is why I’ve been saying that no one will know how long this will take to reach the bottom. We might see another 20-30% drop by this time next year, which would bring MM down 60-70% from peak to trough. We might see MM stay flat for the next 10 years and let inflation catch up. We really don’t know until we start heading up again.

Like Rustico said, every house is different. You can find deals if you work really hard to find it and luck is on your side, even in this market. We all know median is a lagging indicator, so why would you let median dictate your opinion when the bottom occur? Especially when every house is different.

[DWCAP]

SD R, I have a question that has been bothering me for a while, but I have no way of answering it. Maybe since you actually are “on the ground” with the current crop of buyers you have some insights.

How many people actually have the 20% down, and how many people are using bubble money?

What I mean by that is every so often I see someone post here that their plan on investing was to get a good HELOC and use it as leverage. Or that someone was planning on tapping into their 401K to fund their down payment. How many people are using government or 1st time buyer programs to get the cash?

The reason I ask is becasue these are not the same as having 20% down in a bank. They all need to be paid back in future money. I think it could be insightful for future prospects if we figure out where these 60-80k downs are coming from.

Is there anyway of finding this out? I am hoping for more than political speak of “well, every buyer is different and special, so I cant answer that with anything substancial.” You have buyers, you take them around day after day, they must say SOMETHING about it. What about HLS or the other brokers on here? You gotta be asking this question right? Where is the money coming from?

[DWCAP]

SD R, I have a question that has been bothering me for a while, but I have no way of answering it. Maybe since you actually are “on the ground” with the current crop of buyers you have some insights.

How many people actually have the 20% down, and how many people are using bubble money?

What I mean by that is every so often I see someone post here that their plan on investing was to get a good HELOC and use it as leverage. Or that someone was planning on tapping into their 401K to fund their down payment. How many people are using government or 1st time buyer programs to get the cash?

The reason I ask is becasue these are not the same as having 20% down in a bank. They all need to be paid back in future money. I think it could be insightful for future prospects if we figure out where these 60-80k downs are coming from.

Is there anyway of finding this out? I am hoping for more than political speak of “well, every buyer is different and special, so I cant answer that with anything substancial.” You have buyers, you take them around day after day, they must say SOMETHING about it. What about HLS or the other brokers on here? You gotta be asking this question right? Where is the money coming from?

[DWCAP]

SD R, I have a question that has been bothering me for a while, but I have no way of answering it. Maybe since you actually are “on the ground” with the current crop of buyers you have some insights.

How many people actually have the 20% down, and how many people are using bubble money?

What I mean by that is every so often I see someone post here that their plan on investing was to get a good HELOC and use it as leverage. Or that someone was planning on tapping into their 401K to fund their down payment. How many people are using government or 1st time buyer programs to get the cash?

The reason I ask is becasue these are not the same as having 20% down in a bank. They all need to be paid back in future money. I think it could be insightful for future prospects if we figure out where these 60-80k downs are coming from.

Is there anyway of finding this out? I am hoping for more than political speak of “well, every buyer is different and special, so I cant answer that with anything substancial.” You have buyers, you take them around day after day, they must say SOMETHING about it. What about HLS or the other brokers on here? You gotta be asking this question right? Where is the money coming from?

[DWCAP]

SD R, I have a question that has been bothering me for a while, but I have no way of answering it. Maybe since you actually are “on the ground” with the current crop of buyers you have some insights.

How many people actually have the 20% down, and how many people are using bubble money?

What I mean by that is every so often I see someone post here that their plan on investing was to get a good HELOC and use it as leverage. Or that someone was planning on tapping into their 401K to fund their down payment. How many people are using government or 1st time buyer programs to get the cash?

The reason I ask is becasue these are not the same as having 20% down in a bank. They all need to be paid back in future money. I think it could be insightful for future prospects if we figure out where these 60-80k downs are coming from.

Is there anyway of finding this out? I am hoping for more than political speak of “well, every buyer is different and special, so I cant answer that with anything substancial.” You have buyers, you take them around day after day, they must say SOMETHING about it. What about HLS or the other brokers on here? You gotta be asking this question right? Where is the money coming from?

[DWCAP]

SD R, I have a question that has been bothering me for a while, but I have no way of answering it. Maybe since you actually are “on the ground” with the current crop of buyers you have some insights.

How many people actually have the 20% down, and how many people are using bubble money?

What I mean by that is every so often I see someone post here that their plan on investing was to get a good HELOC and use it as leverage. Or that someone was planning on tapping into their 401K to fund their down payment. How many people are using government or 1st time buyer programs to get the cash?

The reason I ask is becasue these are not the same as having 20% down in a bank. They all need to be paid back in future money. I think it could be insightful for future prospects if we figure out where these 60-80k downs are coming from.

Is there anyway of finding this out? I am hoping for more than political speak of “well, every buyer is different and special, so I cant answer that with anything substancial.” You have buyers, you take them around day after day, they must say SOMETHING about it. What about HLS or the other brokers on here? You gotta be asking this question right? Where is the money coming from?

[donaldduckmoore]

sdnerd, I totally agree with your points.

DWCAP, you are asking a very interesting question that I wanted to ask for a long time.

SDR, sdr, rustico and others, what kind of sellers are there to list their houses? Are they desparate? Moving out of state or other reasons?

[donaldduckmoore]

sdnerd, I totally agree with your points.

DWCAP, you are asking a very interesting question that I wanted to ask for a long time.

SDR, sdr, rustico and others, what kind of sellers are there to list their houses? Are they desparate? Moving out of state or other reasons?

[donaldduckmoore]

sdnerd, I totally agree with your points.

DWCAP, you are asking a very interesting question that I wanted to ask for a long time.

SDR, sdr, rustico and others, what kind of sellers are there to list their houses? Are they desparate? Moving out of state or other reasons?

[donaldduckmoore]

sdnerd, I totally agree with your points.

DWCAP, you are asking a very interesting question that I wanted to ask for a long time.

SDR, sdr, rustico and others, what kind of sellers are there to list their houses? Are they desparate? Moving out of state or other reasons?

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