[andymajumder]

[quote=sdrealtor]Alot more than you think. I was blown away by the interest level. I figured 3 to 5 offers. They must have gotten 20 in a weekend. I figure most were at, above or close to asking price. I also figure most if not all were taking loans on $697K or less telling me there are a sh*tload of people walking around with $300K or more looking for a nice house and this one was nice but hardly spectacular or a spectacular deal.[/quote]

Have been a housing bear for the past many years since coming across this website and Rick’s analysis. But, have to agree with sdrealtor on this. There are many people with serious money who are willing to pay for certain parts of San Diego. Coastal areas…NCC and some more nicer parts inland such as Scripps Ranch have good demand and I still 2004 prices being paid on many properties. Housing probably will correct further in San Diego county, but I am slowly getting convinced that the more desirable areas of San Diego probably will not see any serious correction from here unless economy collapses or interest rates shoot up a lot (doesn’t help…since I need a mortgage, interest rate going up significantly will probably reduce my affordability).

[andymajumder]

[quote=sdrealtor]Alot more than you think. I was blown away by the interest level. I figured 3 to 5 offers. They must have gotten 20 in a weekend. I figure most were at, above or close to asking price. I also figure most if not all were taking loans on $697K or less telling me there are a sh*tload of people walking around with $300K or more looking for a nice house and this one was nice but hardly spectacular or a spectacular deal.[/quote]

Have been a housing bear for the past many years since coming across this website and Rick’s analysis. But, have to agree with sdrealtor on this. There are many people with serious money who are willing to pay for certain parts of San Diego. Coastal areas…NCC and some more nicer parts inland such as Scripps Ranch have good demand and I still 2004 prices being paid on many properties. Housing probably will correct further in San Diego county, but I am slowly getting convinced that the more desirable areas of San Diego probably will not see any serious correction from here unless economy collapses or interest rates shoot up a lot (doesn’t help…since I need a mortgage, interest rate going up significantly will probably reduce my affordability).

[andymajumder]

[quote=sdrealtor]Alot more than you think. I was blown away by the interest level. I figured 3 to 5 offers. They must have gotten 20 in a weekend. I figure most were at, above or close to asking price. I also figure most if not all were taking loans on $697K or less telling me there are a sh*tload of people walking around with $300K or more looking for a nice house and this one was nice but hardly spectacular or a spectacular deal.[/quote]

Have been a housing bear for the past many years since coming across this website and Rick’s analysis. But, have to agree with sdrealtor on this. There are many people with serious money who are willing to pay for certain parts of San Diego. Coastal areas…NCC and some more nicer parts inland such as Scripps Ranch have good demand and I still 2004 prices being paid on many properties. Housing probably will correct further in San Diego county, but I am slowly getting convinced that the more desirable areas of San Diego probably will not see any serious correction from here unless economy collapses or interest rates shoot up a lot (doesn’t help…since I need a mortgage, interest rate going up significantly will probably reduce my affordability).

[andymajumder]

[quote=sdrealtor]Alot more than you think. I was blown away by the interest level. I figured 3 to 5 offers. They must have gotten 20 in a weekend. I figure most were at, above or close to asking price. I also figure most if not all were taking loans on $697K or less telling me there are a sh*tload of people walking around with $300K or more looking for a nice house and this one was nice but hardly spectacular or a spectacular deal.[/quote]

Have been a housing bear for the past many years since coming across this website and Rick’s analysis. But, have to agree with sdrealtor on this. There are many people with serious money who are willing to pay for certain parts of San Diego. Coastal areas…NCC and some more nicer parts inland such as Scripps Ranch have good demand and I still 2004 prices being paid on many properties. Housing probably will correct further in San Diego county, but I am slowly getting convinced that the more desirable areas of San Diego probably will not see any serious correction from here unless economy collapses or interest rates shoot up a lot (doesn’t help…since I need a mortgage, interest rate going up significantly will probably reduce my affordability).

[andymajumder]

I doubt prices will fall much in places like Scripps Ranch (I am talking about more established parts of Scripps and not Stonebridge). If you can get something for early 2003 price in Scripps later this year with interest rates in the low 4s for 30 yr fixed, which I think is possible…just lock it in. From all my research in the past few months (maybe years if you count online research), I think Scripps is one of the best areas in San Diego to live and raise a family. Similar homes in CV cost a lot more and the only plus I see for CV is closer to the beach and 10 mins closer to Sorrento Valley. Personally i really like Scripps Ranch.

[andymajumder]

I doubt prices will fall much in places like Scripps Ranch (I am talking about more established parts of Scripps and not Stonebridge). If you can get something for early 2003 price in Scripps later this year with interest rates in the low 4s for 30 yr fixed, which I think is possible…just lock it in. From all my research in the past few months (maybe years if you count online research), I think Scripps is one of the best areas in San Diego to live and raise a family. Similar homes in CV cost a lot more and the only plus I see for CV is closer to the beach and 10 mins closer to Sorrento Valley. Personally i really like Scripps Ranch.

[andymajumder]

I doubt prices will fall much in places like Scripps Ranch (I am talking about more established parts of Scripps and not Stonebridge). If you can get something for early 2003 price in Scripps later this year with interest rates in the low 4s for 30 yr fixed, which I think is possible…just lock it in. From all my research in the past few months (maybe years if you count online research), I think Scripps is one of the best areas in San Diego to live and raise a family. Similar homes in CV cost a lot more and the only plus I see for CV is closer to the beach and 10 mins closer to Sorrento Valley. Personally i really like Scripps Ranch.

[andymajumder]

I doubt prices will fall much in places like Scripps Ranch (I am talking about more established parts of Scripps and not Stonebridge). If you can get something for early 2003 price in Scripps later this year with interest rates in the low 4s for 30 yr fixed, which I think is possible…just lock it in. From all my research in the past few months (maybe years if you count online research), I think Scripps is one of the best areas in San Diego to live and raise a family. Similar homes in CV cost a lot more and the only plus I see for CV is closer to the beach and 10 mins closer to Sorrento Valley. Personally i really like Scripps Ranch.

[andymajumder]

I doubt prices will fall much in places like Scripps Ranch (I am talking about more established parts of Scripps and not Stonebridge). If you can get something for early 2003 price in Scripps later this year with interest rates in the low 4s for 30 yr fixed, which I think is possible…just lock it in. From all my research in the past few months (maybe years if you count online research), I think Scripps is one of the best areas in San Diego to live and raise a family. Similar homes in CV cost a lot more and the only plus I see for CV is closer to the beach and 10 mins closer to Sorrento Valley. Personally i really like Scripps Ranch.

[andymajumder]

I say Stagflation. Due to globalization and availability of cheap educated labor in Asia, job growth will continue to be anemic in US, and even those who do have decent jobs in the private sector will not see any significant increase in their compensation due to outsourcing pressure. Of course the top management in most of the private sector will continue to do great as profits continue grow due to expansion in Asia and latin america. Feds policies will lead to inflation in commodity and energy prices which will creep into food and transportation. So thing will get more expensive while salaries will stagnate. Middle class will continue get hammered, the rich will get richer (specially those with exposure to commodity stocks and top management of MNCs)…disparity between the haves and have nots will continue to grow.

[andymajumder]

I say Stagflation. Due to globalization and availability of cheap educated labor in Asia, job growth will continue to be anemic in US, and even those who do have decent jobs in the private sector will not see any significant increase in their compensation due to outsourcing pressure. Of course the top management in most of the private sector will continue to do great as profits continue grow due to expansion in Asia and latin america. Feds policies will lead to inflation in commodity and energy prices which will creep into food and transportation. So thing will get more expensive while salaries will stagnate. Middle class will continue get hammered, the rich will get richer (specially those with exposure to commodity stocks and top management of MNCs)…disparity between the haves and have nots will continue to grow.

[andymajumder]

I say Stagflation. Due to globalization and availability of cheap educated labor in Asia, job growth will continue to be anemic in US, and even those who do have decent jobs in the private sector will not see any significant increase in their compensation due to outsourcing pressure. Of course the top management in most of the private sector will continue to do great as profits continue grow due to expansion in Asia and latin america. Feds policies will lead to inflation in commodity and energy prices which will creep into food and transportation. So thing will get more expensive while salaries will stagnate. Middle class will continue get hammered, the rich will get richer (specially those with exposure to commodity stocks and top management of MNCs)…disparity between the haves and have nots will continue to grow.

[andymajumder]

I say Stagflation. Due to globalization and availability of cheap educated labor in Asia, job growth will continue to be anemic in US, and even those who do have decent jobs in the private sector will not see any significant increase in their compensation due to outsourcing pressure. Of course the top management in most of the private sector will continue to do great as profits continue grow due to expansion in Asia and latin america. Feds policies will lead to inflation in commodity and energy prices which will creep into food and transportation. So thing will get more expensive while salaries will stagnate. Middle class will continue get hammered, the rich will get richer (specially those with exposure to commodity stocks and top management of MNCs)…disparity between the haves and have nots will continue to grow.

[andymajumder]

I say Stagflation. Due to globalization and availability of cheap educated labor in Asia, job growth will continue to be anemic in US, and even those who do have decent jobs in the private sector will not see any significant increase in their compensation due to outsourcing pressure. Of course the top management in most of the private sector will continue to do great as profits continue grow due to expansion in Asia and latin america. Feds policies will lead to inflation in commodity and energy prices which will creep into food and transportation. So thing will get more expensive while salaries will stagnate. Middle class will continue get hammered, the rich will get richer (specially those with exposure to commodity stocks and top management of MNCs)…disparity between the haves and have nots will continue to grow.

[andymajumder]

SD, many thanks. I was curious why you aren’t buying now given where interest rates are . Are putting in low bid offers on some of the properties that you like. If you are not looking at all for buying…why is that.

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