This news is good for those who haven’t bought, yet.

[stockstradr]

On the topic of those who sold, sat out the decline, and are still waiting for the bottom.

At this time, LET ME THANK RICH for creating this wonderful website long ago. It has helped so many.

I was LUCKY to stumble upon this website back in either 2003 or 2004 (I forget which).

This website was a key factor in our dumping our Rancho Bernardo 3/2 condo for $405,000. Prices on similar units peaked at about $415K. We had paid $345,000 for it only about 2 yrs prior.

Let’s check the price today, shall we. I always enjoy that. Conveniently we find that the EXACT same model condo, in same condition that sits 10 feet away from our old condo just SOLD.

That identical unit just sold for $240,000. There are others priced similarly and they are not selling.

And we see from Rich’s new set of wonderful charts, that prices are now again falling, into the second dip of the “double dip”

So thank you again Rich, for your web site helping us realize we needed to SELL, which helped us avoid at least $160,000 loss of equity (405K – $240K)

Currently we are living like hermits and saving money like pack rats, as we watch our cash hoard (future home down payment savings account) grow each month, at the same time housing prices fall each month. We are biding our time. We will buy eventually. The Fat Lady has not yet sung announcing the bottom has been reached on home prices.

[Scarlett]

Good job stockstrader. Where was your condo in RB?
We werent’ so lucky. Bought in 2004 a nice 3 bdr townhome with nice large yard and sold in 2007 for just 30K more than we bought – just enough for the realtor’s commission. With new addition to our family we decided we needed more space so we don’t save much money. Just commute time.
I think the time to buy for us is getting closer with the rates going higher and the prices declining further. We have to get to know the neighborhoods where we might find something we like and that takes time. I encourage you to do the same unless you already know well the area where you will be buying.

[Scarlett]

Good job stockstrader. Where was your condo in RB?
We werent’ so lucky. Bought in 2004 a nice 3 bdr townhome with nice large yard and sold in 2007 for just 30K more than we bought – just enough for the realtor’s commission. With new addition to our family we decided we needed more space so we don’t save much money. Just commute time.
I think the time to buy for us is getting closer with the rates going higher and the prices declining further. We have to get to know the neighborhoods where we might find something we like and that takes time. I encourage you to do the same unless you already know well the area where you will be buying.

[Scarlett]

Good job stockstrader. Where was your condo in RB?
We werent’ so lucky. Bought in 2004 a nice 3 bdr townhome with nice large yard and sold in 2007 for just 30K more than we bought – just enough for the realtor’s commission. With new addition to our family we decided we needed more space so we don’t save much money. Just commute time.
I think the time to buy for us is getting closer with the rates going higher and the prices declining further. We have to get to know the neighborhoods where we might find something we like and that takes time. I encourage you to do the same unless you already know well the area where you will be buying.

[Scarlett]

Good job stockstrader. Where was your condo in RB?
We werent’ so lucky. Bought in 2004 a nice 3 bdr townhome with nice large yard and sold in 2007 for just 30K more than we bought – just enough for the realtor’s commission. With new addition to our family we decided we needed more space so we don’t save much money. Just commute time.
I think the time to buy for us is getting closer with the rates going higher and the prices declining further. We have to get to know the neighborhoods where we might find something we like and that takes time. I encourage you to do the same unless you already know well the area where you will be buying.

[Scarlett]

Good job stockstrader. Where was your condo in RB?
We werent’ so lucky. Bought in 2004 a nice 3 bdr townhome with nice large yard and sold in 2007 for just 30K more than we bought – just enough for the realtor’s commission. With new addition to our family we decided we needed more space so we don’t save much money. Just commute time.
I think the time to buy for us is getting closer with the rates going higher and the prices declining further. We have to get to know the neighborhoods where we might find something we like and that takes time. I encourage you to do the same unless you already know well the area where you will be buying.

[stockstradr]

That condo we sold is in the 17161 Alva Road complex.

It was a cute condo but in a not so super area. It was in West RB, a much older condo complex in a not highly desired area of RB. However, that spot is only blocks away from the perimeter (near Monterey Ridge Drive) of the 4S Ranch subdivision, so that area is not that bad.

[stockstradr]

That condo we sold is in the 17161 Alva Road complex.

It was a cute condo but in a not so super area. It was in West RB, a much older condo complex in a not highly desired area of RB. However, that spot is only blocks away from the perimeter (near Monterey Ridge Drive) of the 4S Ranch subdivision, so that area is not that bad.

[stockstradr]

That condo we sold is in the 17161 Alva Road complex.

It was a cute condo but in a not so super area. It was in West RB, a much older condo complex in a not highly desired area of RB. However, that spot is only blocks away from the perimeter (near Monterey Ridge Drive) of the 4S Ranch subdivision, so that area is not that bad.

[stockstradr]

That condo we sold is in the 17161 Alva Road complex.

It was a cute condo but in a not so super area. It was in West RB, a much older condo complex in a not highly desired area of RB. However, that spot is only blocks away from the perimeter (near Monterey Ridge Drive) of the 4S Ranch subdivision, so that area is not that bad.

[stockstradr]

That condo we sold is in the 17161 Alva Road complex.

It was a cute condo but in a not so super area. It was in West RB, a much older condo complex in a not highly desired area of RB. However, that spot is only blocks away from the perimeter (near Monterey Ridge Drive) of the 4S Ranch subdivision, so that area is not that bad.

[stockstradr]

Scarlett,

I think you’ve got plenty to brag about. You beat the odds. You sold and avoided the crash.

We only ended up netting about $40,000 on our sale.

Something interested I noticed tonight in plotting all sales data for the Summit complex, going back to 2002.

At least in that complex, condo prices have already crashed below the previous “bottom” in pricing that was seen in 1st qtr 2009. These prices are new lows.

The 3BR/2BTH units just broke below $200/sqr ft, a significant new low. The previous “bottom” in 2009 only had the PPSF hit $230 in that complex for the 3/2 units. (The 3BTH/2BR 1232 sq ft units have recently closed as low as $240,000)

[stockstradr]

Scarlett,

I think you’ve got plenty to brag about. You beat the odds. You sold and avoided the crash.

We only ended up netting about $40,000 on our sale.

Something interested I noticed tonight in plotting all sales data for the Summit complex, going back to 2002.

At least in that complex, condo prices have already crashed below the previous “bottom” in pricing that was seen in 1st qtr 2009. These prices are new lows.

The 3BR/2BTH units just broke below $200/sqr ft, a significant new low. The previous “bottom” in 2009 only had the PPSF hit $230 in that complex for the 3/2 units. (The 3BTH/2BR 1232 sq ft units have recently closed as low as $240,000)

[stockstradr]

Scarlett,

I think you’ve got plenty to brag about. You beat the odds. You sold and avoided the crash.

We only ended up netting about $40,000 on our sale.

Something interested I noticed tonight in plotting all sales data for the Summit complex, going back to 2002.

At least in that complex, condo prices have already crashed below the previous “bottom” in pricing that was seen in 1st qtr 2009. These prices are new lows.

The 3BR/2BTH units just broke below $200/sqr ft, a significant new low. The previous “bottom” in 2009 only had the PPSF hit $230 in that complex for the 3/2 units. (The 3BTH/2BR 1232 sq ft units have recently closed as low as $240,000)

[stockstradr]

Scarlett,

I think you’ve got plenty to brag about. You beat the odds. You sold and avoided the crash.

We only ended up netting about $40,000 on our sale.

Something interested I noticed tonight in plotting all sales data for the Summit complex, going back to 2002.

At least in that complex, condo prices have already crashed below the previous “bottom” in pricing that was seen in 1st qtr 2009. These prices are new lows.

The 3BR/2BTH units just broke below $200/sqr ft, a significant new low. The previous “bottom” in 2009 only had the PPSF hit $230 in that complex for the 3/2 units. (The 3BTH/2BR 1232 sq ft units have recently closed as low as $240,000)

[Author]

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