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SD Transplant.
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July 13, 2010 at 12:22 PM #17696July 13, 2010 at 12:35 PM #577431
Nor-LA-SD-guy
ParticipantMy best guess would be…
Low end (below 350K in TV and 400K in NC SD ) stays flat to small increase into first Q next year.
Mid range 500 K to 1 Mil starts to see more and more foreclosures and price pressure into First Q next year.
I got nothing beyond that.
July 13, 2010 at 12:35 PM #577525ParticipantMy best guess would be…
Low end (below 350K in TV and 400K in NC SD ) stays flat to small increase into first Q next year.
Mid range 500 K to 1 Mil starts to see more and more foreclosures and price pressure into First Q next year.
I got nothing beyond that.
July 13, 2010 at 12:35 PM #578052ParticipantMy best guess would be…
Low end (below 350K in TV and 400K in NC SD ) stays flat to small increase into first Q next year.
Mid range 500 K to 1 Mil starts to see more and more foreclosures and price pressure into First Q next year.
I got nothing beyond that.
July 13, 2010 at 12:35 PM #578158ParticipantMy best guess would be…
Low end (below 350K in TV and 400K in NC SD ) stays flat to small increase into first Q next year.
Mid range 500 K to 1 Mil starts to see more and more foreclosures and price pressure into First Q next year.
I got nothing beyond that.
July 13, 2010 at 12:35 PM #578460ParticipantMy best guess would be…
Low end (below 350K in TV and 400K in NC SD ) stays flat to small increase into first Q next year.
Mid range 500 K to 1 Mil starts to see more and more foreclosures and price pressure into First Q next year.
I got nothing beyond that.
July 13, 2010 at 12:51 PM #577436CDMA ENG
Participant[quote=Nor-LA-SD-guy]My best guess would be…
Low end (below 350K in TV and 400K in NC SD ) stays flat to small increase into first Q next year.
Mid range 500 K to 1 Mil starts to see more and more foreclosures and price pressure into First Q next year.
I got nothing beyond that.[/quote]
Crystal ball fogging over? 😛
CE
July 13, 2010 at 12:51 PM #577530Participant[quote=Nor-LA-SD-guy]My best guess would be…
Low end (below 350K in TV and 400K in NC SD ) stays flat to small increase into first Q next year.
Mid range 500 K to 1 Mil starts to see more and more foreclosures and price pressure into First Q next year.
I got nothing beyond that.[/quote]
Crystal ball fogging over? 😛
CE
July 13, 2010 at 12:51 PM #578057Participant[quote=Nor-LA-SD-guy]My best guess would be…
Low end (below 350K in TV and 400K in NC SD ) stays flat to small increase into first Q next year.
Mid range 500 K to 1 Mil starts to see more and more foreclosures and price pressure into First Q next year.
I got nothing beyond that.[/quote]
Crystal ball fogging over? 😛
CE
July 13, 2010 at 12:51 PM #578163Participant[quote=Nor-LA-SD-guy]My best guess would be…
Low end (below 350K in TV and 400K in NC SD ) stays flat to small increase into first Q next year.
Mid range 500 K to 1 Mil starts to see more and more foreclosures and price pressure into First Q next year.
I got nothing beyond that.[/quote]
Crystal ball fogging over? 😛
CE
July 13, 2010 at 12:51 PM #578465Participant[quote=Nor-LA-SD-guy]My best guess would be…
Low end (below 350K in TV and 400K in NC SD ) stays flat to small increase into first Q next year.
Mid range 500 K to 1 Mil starts to see more and more foreclosures and price pressure into First Q next year.
I got nothing beyond that.[/quote]
Crystal ball fogging over? 😛
CE
July 13, 2010 at 12:56 PM #577441sdrealtor
ParticipantSoftness for the rest of the year and then price strength next year. Its the way it traditionally goes.
As an aside I have just seen two examples of something I used to write about a couple years ago here that would help the higher end markets. I’m taking about the upcoming wealth transfer and here are the two examples.
I have a really nice townhouse listing in Laguna right now. It is an awesome property by far the nicest location, lot (has a yard) and upgrades far and above others in complex. Its much nicer than any comps and we needed a strong cash buyer who would recognize that. Just got an offer, the buyer is about 60 years old and has lived in a working class neighborhood in Long Beach his whole life. Owns his house nearly free and clear. His 83 yr old mother just passed away and he inherited $1.2M as well as her free and clear house worth about $700K. I saw the death certificate, brokerage statements and will so I know this is all accurate. He offered all cash (about $800K). He’s selling her house and keeping his as rental which will generate about $2K net income. He could have gone alot bigger but he’s getting a great place and will retire comfortably now.
Second example, spoke to friend whose neighbor (late 40’s) is moving. Sold their house just under $1M and netted a couple hundred K on the sale. They got rid of the $700K mortgage and are buying a $1.8M house all cash. They just sold a beach house up in LA that was left to them when father died last year as well as a couple $M more.
Not saying this is going to save the market but I just saw this twice this week. The wealth transfer from our paretns generation to the baby boomers is very real and it is coming as we speak.
July 13, 2010 at 12:56 PM #577535ParticipantSoftness for the rest of the year and then price strength next year. Its the way it traditionally goes.
As an aside I have just seen two examples of something I used to write about a couple years ago here that would help the higher end markets. I’m taking about the upcoming wealth transfer and here are the two examples.
I have a really nice townhouse listing in Laguna right now. It is an awesome property by far the nicest location, lot (has a yard) and upgrades far and above others in complex. Its much nicer than any comps and we needed a strong cash buyer who would recognize that. Just got an offer, the buyer is about 60 years old and has lived in a working class neighborhood in Long Beach his whole life. Owns his house nearly free and clear. His 83 yr old mother just passed away and he inherited $1.2M as well as her free and clear house worth about $700K. I saw the death certificate, brokerage statements and will so I know this is all accurate. He offered all cash (about $800K). He’s selling her house and keeping his as rental which will generate about $2K net income. He could have gone alot bigger but he’s getting a great place and will retire comfortably now.
Second example, spoke to friend whose neighbor (late 40’s) is moving. Sold their house just under $1M and netted a couple hundred K on the sale. They got rid of the $700K mortgage and are buying a $1.8M house all cash. They just sold a beach house up in LA that was left to them when father died last year as well as a couple $M more.
Not saying this is going to save the market but I just saw this twice this week. The wealth transfer from our paretns generation to the baby boomers is very real and it is coming as we speak.
July 13, 2010 at 12:56 PM #578062ParticipantSoftness for the rest of the year and then price strength next year. Its the way it traditionally goes.
As an aside I have just seen two examples of something I used to write about a couple years ago here that would help the higher end markets. I’m taking about the upcoming wealth transfer and here are the two examples.
I have a really nice townhouse listing in Laguna right now. It is an awesome property by far the nicest location, lot (has a yard) and upgrades far and above others in complex. Its much nicer than any comps and we needed a strong cash buyer who would recognize that. Just got an offer, the buyer is about 60 years old and has lived in a working class neighborhood in Long Beach his whole life. Owns his house nearly free and clear. His 83 yr old mother just passed away and he inherited $1.2M as well as her free and clear house worth about $700K. I saw the death certificate, brokerage statements and will so I know this is all accurate. He offered all cash (about $800K). He’s selling her house and keeping his as rental which will generate about $2K net income. He could have gone alot bigger but he’s getting a great place and will retire comfortably now.
Second example, spoke to friend whose neighbor (late 40’s) is moving. Sold their house just under $1M and netted a couple hundred K on the sale. They got rid of the $700K mortgage and are buying a $1.8M house all cash. They just sold a beach house up in LA that was left to them when father died last year as well as a couple $M more.
Not saying this is going to save the market but I just saw this twice this week. The wealth transfer from our paretns generation to the baby boomers is very real and it is coming as we speak.
July 13, 2010 at 12:56 PM #578168ParticipantSoftness for the rest of the year and then price strength next year. Its the way it traditionally goes.
As an aside I have just seen two examples of something I used to write about a couple years ago here that would help the higher end markets. I’m taking about the upcoming wealth transfer and here are the two examples.
I have a really nice townhouse listing in Laguna right now. It is an awesome property by far the nicest location, lot (has a yard) and upgrades far and above others in complex. Its much nicer than any comps and we needed a strong cash buyer who would recognize that. Just got an offer, the buyer is about 60 years old and has lived in a working class neighborhood in Long Beach his whole life. Owns his house nearly free and clear. His 83 yr old mother just passed away and he inherited $1.2M as well as her free and clear house worth about $700K. I saw the death certificate, brokerage statements and will so I know this is all accurate. He offered all cash (about $800K). He’s selling her house and keeping his as rental which will generate about $2K net income. He could have gone alot bigger but he’s getting a great place and will retire comfortably now.
Second example, spoke to friend whose neighbor (late 40’s) is moving. Sold their house just under $1M and netted a couple hundred K on the sale. They got rid of the $700K mortgage and are buying a $1.8M house all cash. They just sold a beach house up in LA that was left to them when father died last year as well as a couple $M more.
Not saying this is going to save the market but I just saw this twice this week. The wealth transfer from our paretns generation to the baby boomers is very real and it is coming as we speak.
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