Sticky sellers in RSF and Santaluz

[SD Realtor]

Farbet –

Be inquisitive it is okay. Right now I own a condo in Crown Point that was my very first purchase back in the 90’s and it is now a rental. I also own a small 3/2 in Talmadge that used to be a 3/1 but we added a bathroom. After 2 kids we outgrew it, moved out and now that is a rental as well. Had a third rental in Mission Valley that was purchased strictly to be a rental and sold it to my tenant at about 10% under market last Spring. The market for 1/1’s in Mission Valley has deteriorated since then.

Have been renting in 3 rentals since we moved from the Talmadge home back in 05. The first was a rental in PQ, then we rented off of Calle Cristobal in Mira Mesa, now we are renting in Scripps. Wife wants to kill me.

Over the past year I have submitted 5 lowball offers in Scripps but none of them have been accepted. Only one countered and we could not come to terms. I have not submitted any lowball offers on my own behalf for several months now.

There is a home on my cul de sac that is not occupied. The owner was a guy who started a website for job postings here in San Diego. Two years ago or maybe last year he was bought out by Jobbing. He bought a home (in Scripps) on the south side of Pomerado for 1.1M (give or take) and will put his house on the market in the spring for “I think” the mid – high 700’s. It is in a good location and in good shape but to me overpriced. It does comp out to a recent sale in the cul de sac but again, to me that does not mean much in a declining market. The bad thing is that some dufus will most likely pay it and I will still be stuck renting…. and waiting

thenSD Realtor

[Bugs]

The would-be sellers in the high dollar areas mostly have more ability to hold, so there won’t be as much desperation at this point. Give it a couple years after all the spec homes have been sitting around for a while and some of those sellers will figure it out.

[Bugs]

The would-be sellers in the high dollar areas mostly have more ability to hold, so there won’t be as much desperation at this point. Give it a couple years after all the spec homes have been sitting around for a while and some of those sellers will figure it out.

[Bugs]

The would-be sellers in the high dollar areas mostly have more ability to hold, so there won’t be as much desperation at this point. Give it a couple years after all the spec homes have been sitting around for a while and some of those sellers will figure it out.

[Bugs]

The would-be sellers in the high dollar areas mostly have more ability to hold, so there won’t be as much desperation at this point. Give it a couple years after all the spec homes have been sitting around for a while and some of those sellers will figure it out.

[Bugs]

The would-be sellers in the high dollar areas mostly have more ability to hold, so there won’t be as much desperation at this point. Give it a couple years after all the spec homes have been sitting around for a while and some of those sellers will figure it out.

[farbet]

When you buy, then I will buy SDRealtor. Thanks for the posts.By the way news flash

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s ..

Five-year mortgage rate freeze looms

WASHINGTON – Congressional aides say the Bush administration has hammered out an agreement with industry to freeze interest rates for certain subprime mortgages for five years in an effort to combat a soaring tide of foreclosures

These aides, who spoke on condition of anonymity because the details have not yet been released, said the five-year moratorium represented a compromise between desires by banking regulators for a longer time frame of as much as seven years and industry arguments that the freeze should only last one to two years.

Another person familiar with the matter said the rate-freeze plan would apply to borrowers with loans made at the start of 2005 through July 30 of this year with rates that are scheduled to rise between Jan. 1, 2008, and July 31, 2010.

[farbet]

When you buy, then I will buy SDRealtor. Thanks for the posts.By the way news flash

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s ..

Five-year mortgage rate freeze looms

WASHINGTON – Congressional aides say the Bush administration has hammered out an agreement with industry to freeze interest rates for certain subprime mortgages for five years in an effort to combat a soaring tide of foreclosures

These aides, who spoke on condition of anonymity because the details have not yet been released, said the five-year moratorium represented a compromise between desires by banking regulators for a longer time frame of as much as seven years and industry arguments that the freeze should only last one to two years.

Another person familiar with the matter said the rate-freeze plan would apply to borrowers with loans made at the start of 2005 through July 30 of this year with rates that are scheduled to rise between Jan. 1, 2008, and July 31, 2010.

[farbet]

When you buy, then I will buy SDRealtor. Thanks for the posts.By the way news flash

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s ..

Five-year mortgage rate freeze looms

WASHINGTON – Congressional aides say the Bush administration has hammered out an agreement with industry to freeze interest rates for certain subprime mortgages for five years in an effort to combat a soaring tide of foreclosures

These aides, who spoke on condition of anonymity because the details have not yet been released, said the five-year moratorium represented a compromise between desires by banking regulators for a longer time frame of as much as seven years and industry arguments that the freeze should only last one to two years.

Another person familiar with the matter said the rate-freeze plan would apply to borrowers with loans made at the start of 2005 through July 30 of this year with rates that are scheduled to rise between Jan. 1, 2008, and July 31, 2010.

[farbet]

When you buy, then I will buy SDRealtor. Thanks for the posts.By the way news flash

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s ..

Five-year mortgage rate freeze looms

WASHINGTON – Congressional aides say the Bush administration has hammered out an agreement with industry to freeze interest rates for certain subprime mortgages for five years in an effort to combat a soaring tide of foreclosures

These aides, who spoke on condition of anonymity because the details have not yet been released, said the five-year moratorium represented a compromise between desires by banking regulators for a longer time frame of as much as seven years and industry arguments that the freeze should only last one to two years.

Another person familiar with the matter said the rate-freeze plan would apply to borrowers with loans made at the start of 2005 through July 30 of this year with rates that are scheduled to rise between Jan. 1, 2008, and July 31, 2010.

[farbet]

When you buy, then I will buy SDRealtor. Thanks for the posts.By the way news flash

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s ..

Five-year mortgage rate freeze looms

WASHINGTON – Congressional aides say the Bush administration has hammered out an agreement with industry to freeze interest rates for certain subprime mortgages for five years in an effort to combat a soaring tide of foreclosures

These aides, who spoke on condition of anonymity because the details have not yet been released, said the five-year moratorium represented a compromise between desires by banking regulators for a longer time frame of as much as seven years and industry arguments that the freeze should only last one to two years.

Another person familiar with the matter said the rate-freeze plan would apply to borrowers with loans made at the start of 2005 through July 30 of this year with rates that are scheduled to rise between Jan. 1, 2008, and July 31, 2010.

[Navydoc]

I agree with you, it is vexing. I’m watching these areas closely too, and will likely buy in 2009. The one ray of hope I can see comes from the other area I’m watching closely, 4S (see also thread for 3000 sf breaks $700,000 barrier). After reviewing listing almost daily in 91927 I’ve definitely seen a decline in the price point I’m interested in, namely approx $800,000. Homes that were previously listed at low 1 million are now easily in the low $900’s, some into the mid $800’s. I’m really interested in the 5/4 3000+ sq ft range. Posters in the past few weeks have stated that this area is more immune to price declines but in light of recent information some noteable cracks are clearly forming.

The main difference I see between a community like 4S and RSF is it seems like more people will real money and sound financial practices live in RSF, as opposed to more buyers (I think) in 4S using affordability mortgages. From some of your earlier posts it seems as though your interested in a larger house/higher price point than I am, and that kind of home in RSF is probably owned by someone that can actually afford it, hence the price stickiness. I’m sure if you wait a bit longer the same sort of changes will occur in the older high end communities. Some of those sound business practices may lead people to unload their property before it becomes a financial liability. At least I hope so.

[Navydoc]

I agree with you, it is vexing. I’m watching these areas closely too, and will likely buy in 2009. The one ray of hope I can see comes from the other area I’m watching closely, 4S (see also thread for 3000 sf breaks $700,000 barrier). After reviewing listing almost daily in 91927 I’ve definitely seen a decline in the price point I’m interested in, namely approx $800,000. Homes that were previously listed at low 1 million are now easily in the low $900’s, some into the mid $800’s. I’m really interested in the 5/4 3000+ sq ft range. Posters in the past few weeks have stated that this area is more immune to price declines but in light of recent information some noteable cracks are clearly forming.

The main difference I see between a community like 4S and RSF is it seems like more people will real money and sound financial practices live in RSF, as opposed to more buyers (I think) in 4S using affordability mortgages. From some of your earlier posts it seems as though your interested in a larger house/higher price point than I am, and that kind of home in RSF is probably owned by someone that can actually afford it, hence the price stickiness. I’m sure if you wait a bit longer the same sort of changes will occur in the older high end communities. Some of those sound business practices may lead people to unload their property before it becomes a financial liability. At least I hope so.

[Navydoc]

I agree with you, it is vexing. I’m watching these areas closely too, and will likely buy in 2009. The one ray of hope I can see comes from the other area I’m watching closely, 4S (see also thread for 3000 sf breaks $700,000 barrier). After reviewing listing almost daily in 91927 I’ve definitely seen a decline in the price point I’m interested in, namely approx $800,000. Homes that were previously listed at low 1 million are now easily in the low $900’s, some into the mid $800’s. I’m really interested in the 5/4 3000+ sq ft range. Posters in the past few weeks have stated that this area is more immune to price declines but in light of recent information some noteable cracks are clearly forming.

The main difference I see between a community like 4S and RSF is it seems like more people will real money and sound financial practices live in RSF, as opposed to more buyers (I think) in 4S using affordability mortgages. From some of your earlier posts it seems as though your interested in a larger house/higher price point than I am, and that kind of home in RSF is probably owned by someone that can actually afford it, hence the price stickiness. I’m sure if you wait a bit longer the same sort of changes will occur in the older high end communities. Some of those sound business practices may lead people to unload their property before it becomes a financial liability. At least I hope so.

[Navydoc]

I agree with you, it is vexing. I’m watching these areas closely too, and will likely buy in 2009. The one ray of hope I can see comes from the other area I’m watching closely, 4S (see also thread for 3000 sf breaks $700,000 barrier). After reviewing listing almost daily in 91927 I’ve definitely seen a decline in the price point I’m interested in, namely approx $800,000. Homes that were previously listed at low 1 million are now easily in the low $900’s, some into the mid $800’s. I’m really interested in the 5/4 3000+ sq ft range. Posters in the past few weeks have stated that this area is more immune to price declines but in light of recent information some noteable cracks are clearly forming.

The main difference I see between a community like 4S and RSF is it seems like more people will real money and sound financial practices live in RSF, as opposed to more buyers (I think) in 4S using affordability mortgages. From some of your earlier posts it seems as though your interested in a larger house/higher price point than I am, and that kind of home in RSF is probably owned by someone that can actually afford it, hence the price stickiness. I’m sure if you wait a bit longer the same sort of changes will occur in the older high end communities. Some of those sound business practices may lead people to unload their property before it becomes a financial liability. At least I hope so.

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