[andymajumder]

“If you look at past cycles, once prices reverted to the mean they continued downward and over-corrected. There’s no reason not to expect that this time.”

Ideally, thats what you expect. But, its moves like this

http://www.thestreet.com/_yahoo/funds/etf-update/10410831.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

which has me worried. Congress and Fed seems to be hell bent on throwing as much money on Housing as possible to prevent itself from correcting. Its almost an all out war against renters and tempt them buy at any cost. I won’t be surprised if a new bill comes out which will add an additional tax if you are renting.:-)

[andymajumder]

“If you look at past cycles, once prices reverted to the mean they continued downward and over-corrected. There’s no reason not to expect that this time.”

Ideally, thats what you expect. But, its moves like this

http://www.thestreet.com/_yahoo/funds/etf-update/10410831.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

which has me worried. Congress and Fed seems to be hell bent on throwing as much money on Housing as possible to prevent itself from correcting. Its almost an all out war against renters and tempt them buy at any cost. I won’t be surprised if a new bill comes out which will add an additional tax if you are renting.:-)

[andymajumder]

“If you look at past cycles, once prices reverted to the mean they continued downward and over-corrected. There’s no reason not to expect that this time.”

Ideally, thats what you expect. But, its moves like this

http://www.thestreet.com/_yahoo/funds/etf-update/10410831.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

which has me worried. Congress and Fed seems to be hell bent on throwing as much money on Housing as possible to prevent itself from correcting. Its almost an all out war against renters and tempt them buy at any cost. I won’t be surprised if a new bill comes out which will add an additional tax if you are renting.:-)

[andymajumder]

“If you look at past cycles, once prices reverted to the mean they continued downward and over-corrected. There’s no reason not to expect that this time.”

Ideally, thats what you expect. But, its moves like this

http://www.thestreet.com/_yahoo/funds/etf-update/10410831.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

which has me worried. Congress and Fed seems to be hell bent on throwing as much money on Housing as possible to prevent itself from correcting. Its almost an all out war against renters and tempt them buy at any cost. I won’t be surprised if a new bill comes out which will add an additional tax if you are renting.:-)

[andymajumder]

SD,

This is the home ‘theasian1’ was refering to
http://www.sdlookup.com/MLS-086014712-10943_Caminito_Tierra_San_Diego_CA_92131

What would be good offer on this?

BTW, there’s another with the same floor plan listed for 450K.
http://www.sdlookup.com/MLS-086015870-10935_Caminito_Arboles_San_Diego_CA_92131

[andymajumder]

SD,

This is the home ‘theasian1’ was refering to
http://www.sdlookup.com/MLS-086014712-10943_Caminito_Tierra_San_Diego_CA_92131

What would be good offer on this?

BTW, there’s another with the same floor plan listed for 450K.
http://www.sdlookup.com/MLS-086015870-10935_Caminito_Arboles_San_Diego_CA_92131

[andymajumder]

SD,

This is the home ‘theasian1’ was refering to
http://www.sdlookup.com/MLS-086014712-10943_Caminito_Tierra_San_Diego_CA_92131

What would be good offer on this?

BTW, there’s another with the same floor plan listed for 450K.
http://www.sdlookup.com/MLS-086015870-10935_Caminito_Arboles_San_Diego_CA_92131

[andymajumder]

SD,

This is the home ‘theasian1’ was refering to
http://www.sdlookup.com/MLS-086014712-10943_Caminito_Tierra_San_Diego_CA_92131

What would be good offer on this?

BTW, there’s another with the same floor plan listed for 450K.
http://www.sdlookup.com/MLS-086015870-10935_Caminito_Arboles_San_Diego_CA_92131

[andymajumder]

SD,

This is the home ‘theasian1’ was refering to
http://www.sdlookup.com/MLS-086014712-10943_Caminito_Tierra_San_Diego_CA_92131

What would be good offer on this?

BTW, there’s another with the same floor plan listed for 450K.
http://www.sdlookup.com/MLS-086015870-10935_Caminito_Arboles_San_Diego_CA_92131

[andymajumder]

Even in the current market that probably is not a good deal at all and probably should see significant depreciation as SD realtor mentions.

This seems to be in the same neighborhood, larger and in better condition for the same price.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1572822

This would be a better deal too, but needs some tlc

http://www.redfin.com/stingray/do/printable-listing?listing-id=1578483

I am observing this area too and prices are definitely gradually falling. A year from now this area might be 10-15% lower than now on average.

[andymajumder]

Even in the current market that probably is not a good deal at all and probably should see significant depreciation as SD realtor mentions.

This seems to be in the same neighborhood, larger and in better condition for the same price.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1572822

This would be a better deal too, but needs some tlc

http://www.redfin.com/stingray/do/printable-listing?listing-id=1578483

I am observing this area too and prices are definitely gradually falling. A year from now this area might be 10-15% lower than now on average.

[andymajumder]

Even in the current market that probably is not a good deal at all and probably should see significant depreciation as SD realtor mentions.

This seems to be in the same neighborhood, larger and in better condition for the same price.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1572822

This would be a better deal too, but needs some tlc

http://www.redfin.com/stingray/do/printable-listing?listing-id=1578483

I am observing this area too and prices are definitely gradually falling. A year from now this area might be 10-15% lower than now on average.

[andymajumder]

Even in the current market that probably is not a good deal at all and probably should see significant depreciation as SD realtor mentions.

This seems to be in the same neighborhood, larger and in better condition for the same price.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1572822

This would be a better deal too, but needs some tlc

http://www.redfin.com/stingray/do/printable-listing?listing-id=1578483

I am observing this area too and prices are definitely gradually falling. A year from now this area might be 10-15% lower than now on average.

[andymajumder]

Even in the current market that probably is not a good deal at all and probably should see significant depreciation as SD realtor mentions.

This seems to be in the same neighborhood, larger and in better condition for the same price.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1572822

This would be a better deal too, but needs some tlc

http://www.redfin.com/stingray/do/printable-listing?listing-id=1578483

I am observing this area too and prices are definitely gradually falling. A year from now this area might be 10-15% lower than now on average.

[andymajumder]

Looks like the mdeia is already covering it as a big boost for the housing market in California. http://money.cnn.com/2008/01/25/real_estate/stimulus_plan_targets_pricy_housing/index.htm

"This will have a big, immediate impact, especially in California where sales have been down most significantly," said Lawrence Yun, chief economist for the National Association of Realtors. The 1 percent drop is a huge factor," said Yun. "In California, it could create a mini-boom."

More coverage,

http://www.msnbc.msn.com/id/22826663/

Does this mean its the end of price drops as of now?

They really are playing it as though prices might start going up again and this may cause a lot of potential buyers to jump back in. 

 

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