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Artifact
ParticipantThe people I know, I am really not sure what they will do. They wanted to move out of the area closer to family, but not being able to sell, I think they are planning to stay here until the market improves. The problem is, I get the impression they think that will be sooner rather than later. I find it really odd that with as much equity as they have (bought around 175K – listed at 600K), they seem to be convinced they have their price set right – they could chop 150K off the asking price and still have plenty of money to move on with. Neighbors would be unhappy, but oh well. The positive side for them is that they are not in any danger of losing their home – just not where they want to be even though they could easily get there if they were not being stubborn.
I think in general they are either really being stubborn or they are getting some bad advice from their realtor (probably both). I think they would pull it off the market now if they could, but are still in a listing contract. I did see that they first lowered their price, then raised it (funny numbers though, might have been a mistake).
ParticipantIn regards to lesson 1 – I have seen the same thing – an aquaintance of mine has their house listed – 3 months now, a couple of looks, no offers, but I have been told they have it “priced right”, it is just a tough market…hmmm, 3 months, no offers, maybe it is not quite priced right? This person bought in 1998 and the current asking price is more than 400K more than they paid (I don’t think they have any seconds – or if they do, they are small and were put back into the house), so they could easily chop the price and sell… but of course they have it priced right, so they don’t need to!
About lesson 2 – to repeat myself from another topic: Hire a losing coach, get a losing team. I would cut them slack if they had hired Singletary – although I can’t imagine so many stupid mistakes if he was coach. No one would want to face the coach on the sideline having made a dumb mistake with that look he used to give QB’s – that guy was scary just watching on TV.
ParticipantThat condo link on Illinois is interesting – if the sales history is correct, it is listed right now at 14% off of the 9/2004 price – they even listed it originally in April at 3K less than they paid –
ParticipantI have spent some time in and around Santee both for work and visiting friends.
I personally have nothing against Santee – the commute would be bad for me working in North county.
The school scores are okay for elementary schools and closer to average for high school. I guess I would call the school score a non-issue for me – not good enough to entice me to come there and not bad enough to scare me away. My wife was a teacher at one point and I fully agree with whoever posted that, at least at the elementary school level, it is all about parent involvement – poor high school scores would scare me more.
I do agree that calling Santee full of mexicans is off – if anything I would think of Santee as pretty solidly middle to lower middle class and very white.
I think the problem with Santee at the moment is exactly what the original post was about – home prices in Santee are WAY too high for a place with a median household income in the mid 60k’s – I agree that wiki is a poor source to cite – city data is a little better:
http://www.city-data.com/city/Santee-California.html
I would not be opposed to living in Santee, but at the moment I can’t afford it without doing some form of horrible mortgage – at a median household income of 65K a year, the median house price in Santee should be 200K to 225K – not 400K+ – that is not a knock on Santee, it is just a statement based on the population’s income and how stupid the housing market is in San Diego. Someone with a graduate degree and a professional, decent paying job SHOULD be able to buy a house in Santee, right?
ParticipantNew figures – a little cleaner and with adjusted axes! Nothing new though, it is interesting that total inventory is going up – there was another thread discussing that YOY listings was flat, which was true, but if these data are indicative of the overall market (we know these are a little lower than the actual number) then that statement will quickly change because last year at this time listings were decreasing.
Still seeing that the short sales increases more each week than listings, so the perentage of the total listings that are short continues to climb in a VERY consistent way.
[img_assist|nid=4920|title= Short sales and toal listings|desc=|link=node|align=left|width=466|height=259]
[img_assist|nid=4921|title= Percent change and percent short of total|desc=|link=node|align=left|width=466|height=259]Participantoops – internet connection is moving VERY slow tonight so I impatiently posted twice.
ParticipantSDR – that was the segment I was referring to. That makes sense – I felt like those two stories fit with the overall theme, but just seemed very out of place in the film.
I just missed an interview with Burns the other night – I guess I felt that the overall message was that no matter what the reason, or what the news reports, or the leaders of the war say or do, the actions of the war are made up of a whole bunch of people we will never hear about – and he did this with the intent of trying to tell the story from the perspective of some of those people.
I thought he did a good job of capturing the feelings of a couple of the guys – kids signing up for “adventure” and getting sent off to do things that under normal conditions are considered wrong and in many cases suffering through things that can and did kill some people. I thought both the story from the Bataan Death march and the battle of Guadalcanal were really interesting to hear how the two guys felt when they left then how they talked about the things that happened.
I did not think that Burns was trying to make any points for or against the war in Iraq, which was good – it allowed people to watch it from a purely “interest in the history” point of view completely outside of my opinion about Iraq. I would guess many here, like me, had grandfathers or other relatives in the war and it was interesting for me to watch and learn a couple of new things about something that had a major impact on my family (my father was born 2 weeks before Pearl Harbor and my grandfather was drafted to serve as a doctor). It was a film about war and that will be enough to draw enough comparison from both sides. Critics will grab the comment or story they want and make a point for or against the war Iraq regardless of what Burns intended, so he really did not do anything with the film that I thought was trying to draw any direct comparisons.
ParticipantI was long out of the military before our current conflict started – but seeing things like this documentary and remembering what it was like for me during times that were far, far less demanding (the first Gulf war, Somalia, etc.) make me really think about my friends that are still serving.
Very different situation in Iraq right now, but for guys actually on the ground that does not make the prospect of dying any different.
ParticipantI watched most of it – for the most part I found it interesting. I think Burns had a couple of general ideas he was trying to convey that he did a relatively good job of – not everyone will agree with them or like them, but he got them across. I did find the last segment somewhat strange – It really did not fit with the rest of the film for me. Maybe he was trying a little too hard at that point to paint the picture he wanted.
Overall it was worth watching, but not perfect. As a point of reference, I was in the military for over 8 years, which I think helped me relate to a couple of the segments differently than someone who has not spent time in the military.
September 24, 2007 at 9:28 AM in reply to: Off topic – The Chargers are NOT who we thought they were #85684ParticipantIf the Chargers would have hired one of the other coaching candidates – even one with no head coaching record like Singletary – I would be willing to cut them some slack as they adjust to the new coaching scheme. BUT they hired Norv Turner supposedly to help maintain some consistency because he was a coordinator here once. The guy has a losing record as a head coach no matter what team he has been with so I just can’t see any reason to cut them slack –
Hire a losing coach, get a losing team…
ParticipantFigures – nothing new here. It is interesting that with listings staying virtually float, short sales are still increasing – either existing listings are lowering their price to the point they are short sales, or the few new listings are dominated by short sales – or more likely a combination of those two.
Laziness – and the need to get some work done before taking off for the Padres game this afternoon – has prevented me from changing the y-axis scale to fit the ever growing percentage and short sales – I did not have new data for the 3rd plot – but that is not as relevant to this thread anyway.
Cheers –
[img_assist|nid=4863|title= Short Sales and Total Listings|desc=|link=node|align=left|width=466|height=283]
[img_assist|nid=4864|title= Percent Change and Percent Short of Total|desc=|link=node|align=left|width=466|height=283]ParticipantThe link shows it as a foreclosure (except of course those CAN’t happen in La Jolla!) so that might be the foreclosure amount – that still seems to make it strange if the house appraised at 6 and foreclosed for 1.5 – someone with that much equity should have been able to refinance?
T
ParticipantYes, San Diego is a desirable place to live – but the population numbers don’t show that we are having a major influx of new people – I think more “homeowner” age people are leaving actually. At the last report, wasn’t the only growing age group in San Diego due to births?
So yes, people “want” to live here, but apparently there are quite a few reasonable people out there that have refused to come here are live in debt just to be close to Legoland.
As much as I love living in San Diego, I have been exploring the opposite – a move to a place which costs less so I can actually hope to own something – We choose for my wife to stay home with our children and in San Diego 1 income is hard to live on if you want more than a 2 bedroom apartment. I make just over the median houseold income, but it takes a hell of a lot more than that to live nicely here. That is not to complain too much, we live with only a car payment and a student loan bill – other than that we are able to save a some each month, both for retirement and for a future down payment – it is just a long ways off I fear.
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Participantschizo –
Like I said in the other thread you posted that data in, I agree that yoy has stayed relatively flat.
I still think that what is interesting in the data you are citing is that last year at this point inventory was falling, this year it is still going up. What happens next month will be interesting – if inventory stays level or increases, the yoy comparison will start changing in a hurry. I do think it is an artifact of the decreasing sales, like you said.
T
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