Sticky sellers in RSF and Santaluz

[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.

[ocrenter]

this is the perfect example of why RSF prices are sticky.

this group went out and bought 15 million worth of homes all highly leveraged, they are trying to sell most of them but finding no buyers. yet these guys continue to be current on the mortgage and taxes.

almost as if you are paying a game of chicken with them. you know they are draining their resources, but they have a firm belief that things will turn around shortly so they keep making the payments and keeping the asking price high up there.

who’s going to blink first?

[ocrenter]

this is the perfect example of why RSF prices are sticky.

this group went out and bought 15 million worth of homes all highly leveraged, they are trying to sell most of them but finding no buyers. yet these guys continue to be current on the mortgage and taxes.

almost as if you are paying a game of chicken with them. you know they are draining their resources, but they have a firm belief that things will turn around shortly so they keep making the payments and keeping the asking price high up there.

who’s going to blink first?

[ocrenter]

this is the perfect example of why RSF prices are sticky.

this group went out and bought 15 million worth of homes all highly leveraged, they are trying to sell most of them but finding no buyers. yet these guys continue to be current on the mortgage and taxes.

almost as if you are paying a game of chicken with them. you know they are draining their resources, but they have a firm belief that things will turn around shortly so they keep making the payments and keeping the asking price high up there.

who’s going to blink first?

[ocrenter]

this is the perfect example of why RSF prices are sticky.

this group went out and bought 15 million worth of homes all highly leveraged, they are trying to sell most of them but finding no buyers. yet these guys continue to be current on the mortgage and taxes.

almost as if you are paying a game of chicken with them. you know they are draining their resources, but they have a firm belief that things will turn around shortly so they keep making the payments and keeping the asking price high up there.

who’s going to blink first?

[ocrenter]

this is the perfect example of why RSF prices are sticky.

this group went out and bought 15 million worth of homes all highly leveraged, they are trying to sell most of them but finding no buyers. yet these guys continue to be current on the mortgage and taxes.

almost as if you are paying a game of chicken with them. you know they are draining their resources, but they have a firm belief that things will turn around shortly so they keep making the payments and keeping the asking price high up there.

who’s going to blink first?

[raptorduck]

Navydoc. As many people here know, my range is $2-$5 million purchase price, but my sweet spot is really between $3-$4 million because I prefer not to only put down 20%. But, I need a certain size house with certain things for particular reasons in certain areas for other reasons, hence the broad range.

BTW, if you are a Navy doctor, my hat is off to you. I am a Navy veteran and was stationed in SD, when I first fell in love with it. I got sick once and spent 10 days in Balboa Naval Hospital and my doc was great.

OCrenter, I probably could hold off blinking for another years. My wife, however, may grab me by the hair, sweep her hand around over my eyelids, and make me blink by about this time next year.

Alas, blinking does not mean I have to overpay, however, I can blink on a reasonable opportunity.

I am not looking for an investment. I am looking for a home.

[raptorduck]

Navydoc. As many people here know, my range is $2-$5 million purchase price, but my sweet spot is really between $3-$4 million because I prefer not to only put down 20%. But, I need a certain size house with certain things for particular reasons in certain areas for other reasons, hence the broad range.

BTW, if you are a Navy doctor, my hat is off to you. I am a Navy veteran and was stationed in SD, when I first fell in love with it. I got sick once and spent 10 days in Balboa Naval Hospital and my doc was great.

OCrenter, I probably could hold off blinking for another years. My wife, however, may grab me by the hair, sweep her hand around over my eyelids, and make me blink by about this time next year.

Alas, blinking does not mean I have to overpay, however, I can blink on a reasonable opportunity.

I am not looking for an investment. I am looking for a home.

[raptorduck]

Navydoc. As many people here know, my range is $2-$5 million purchase price, but my sweet spot is really between $3-$4 million because I prefer not to only put down 20%. But, I need a certain size house with certain things for particular reasons in certain areas for other reasons, hence the broad range.

BTW, if you are a Navy doctor, my hat is off to you. I am a Navy veteran and was stationed in SD, when I first fell in love with it. I got sick once and spent 10 days in Balboa Naval Hospital and my doc was great.

OCrenter, I probably could hold off blinking for another years. My wife, however, may grab me by the hair, sweep her hand around over my eyelids, and make me blink by about this time next year.

Alas, blinking does not mean I have to overpay, however, I can blink on a reasonable opportunity.

I am not looking for an investment. I am looking for a home.

[raptorduck]

Navydoc. As many people here know, my range is $2-$5 million purchase price, but my sweet spot is really between $3-$4 million because I prefer not to only put down 20%. But, I need a certain size house with certain things for particular reasons in certain areas for other reasons, hence the broad range.

BTW, if you are a Navy doctor, my hat is off to you. I am a Navy veteran and was stationed in SD, when I first fell in love with it. I got sick once and spent 10 days in Balboa Naval Hospital and my doc was great.

OCrenter, I probably could hold off blinking for another years. My wife, however, may grab me by the hair, sweep her hand around over my eyelids, and make me blink by about this time next year.

Alas, blinking does not mean I have to overpay, however, I can blink on a reasonable opportunity.

I am not looking for an investment. I am looking for a home.

[raptorduck]

Navydoc. As many people here know, my range is $2-$5 million purchase price, but my sweet spot is really between $3-$4 million because I prefer not to only put down 20%. But, I need a certain size house with certain things for particular reasons in certain areas for other reasons, hence the broad range.

BTW, if you are a Navy doctor, my hat is off to you. I am a Navy veteran and was stationed in SD, when I first fell in love with it. I got sick once and spent 10 days in Balboa Naval Hospital and my doc was great.

OCrenter, I probably could hold off blinking for another years. My wife, however, may grab me by the hair, sweep her hand around over my eyelids, and make me blink by about this time next year.

Alas, blinking does not mean I have to overpay, however, I can blink on a reasonable opportunity.

I am not looking for an investment. I am looking for a home.

[Navydoc]

Did my residency at Balboa, hope to return there after fellowship. And yes, I knew you were looking for much more house than I am. I hope you find it at the price you want.

[Navydoc]

Did my residency at Balboa, hope to return there after fellowship. And yes, I knew you were looking for much more house than I am. I hope you find it at the price you want.

[Navydoc]

Did my residency at Balboa, hope to return there after fellowship. And yes, I knew you were looking for much more house than I am. I hope you find it at the price you want.

[Navydoc]

Did my residency at Balboa, hope to return there after fellowship. And yes, I knew you were looking for much more house than I am. I hope you find it at the price you want.

[Author]

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