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Artifact
ParticipantThe delayed figures (excuse = vacations, children, work, etc, blah, blah).
I agree that it looks like the short sales are slowing down, but compared to the total listings, the overall percentage is still increasing. If we assume these numbers reflect the actual relative values in the market given the comments a few posts back, this will be interesting to track. Possibly we are seeing non-distressed houses pulled off the market or selling, but distressed sales staying until they sell or get forclosed? That is complete speculation on my part just looking at these data, which are only rough estimates, but following the current trend, even with decreasing listings, the percentage of listings that are distressed keeps increasing – how that trend plays out until the “spring rebound” could play a major role in what the spring sales and prices look like.
[img_assist|nid=5641|title= Short Sales and Total Listings|desc=|link=node|align=left|width=466|height=297]
[img_assist|nid=5642|title= Percent Change and Percent Short of Total|desc=|link=node|align=left|width=466|height=297]ParticipantThe delayed figures (excuse = vacations, children, work, etc, blah, blah).
I agree that it looks like the short sales are slowing down, but compared to the total listings, the overall percentage is still increasing. If we assume these numbers reflect the actual relative values in the market given the comments a few posts back, this will be interesting to track. Possibly we are seeing non-distressed houses pulled off the market or selling, but distressed sales staying until they sell or get forclosed? That is complete speculation on my part just looking at these data, which are only rough estimates, but following the current trend, even with decreasing listings, the percentage of listings that are distressed keeps increasing – how that trend plays out until the “spring rebound” could play a major role in what the spring sales and prices look like.
[img_assist|nid=5641|title= Short Sales and Total Listings|desc=|link=node|align=left|width=466|height=297]
[img_assist|nid=5642|title= Percent Change and Percent Short of Total|desc=|link=node|align=left|width=466|height=297]ParticipantThe delayed figures (excuse = vacations, children, work, etc, blah, blah).
I agree that it looks like the short sales are slowing down, but compared to the total listings, the overall percentage is still increasing. If we assume these numbers reflect the actual relative values in the market given the comments a few posts back, this will be interesting to track. Possibly we are seeing non-distressed houses pulled off the market or selling, but distressed sales staying until they sell or get forclosed? That is complete speculation on my part just looking at these data, which are only rough estimates, but following the current trend, even with decreasing listings, the percentage of listings that are distressed keeps increasing – how that trend plays out until the “spring rebound” could play a major role in what the spring sales and prices look like.
[img_assist|nid=5641|title= Short Sales and Total Listings|desc=|link=node|align=left|width=466|height=297]
[img_assist|nid=5642|title= Percent Change and Percent Short of Total|desc=|link=node|align=left|width=466|height=297]ParticipantThe delayed figures (excuse = vacations, children, work, etc, blah, blah).
I agree that it looks like the short sales are slowing down, but compared to the total listings, the overall percentage is still increasing. If we assume these numbers reflect the actual relative values in the market given the comments a few posts back, this will be interesting to track. Possibly we are seeing non-distressed houses pulled off the market or selling, but distressed sales staying until they sell or get forclosed? That is complete speculation on my part just looking at these data, which are only rough estimates, but following the current trend, even with decreasing listings, the percentage of listings that are distressed keeps increasing – how that trend plays out until the “spring rebound” could play a major role in what the spring sales and prices look like.
[img_assist|nid=5641|title= Short Sales and Total Listings|desc=|link=node|align=left|width=466|height=297]
[img_assist|nid=5642|title= Percent Change and Percent Short of Total|desc=|link=node|align=left|width=466|height=297]ParticipantThat is tough in San Diego – I rent a small 2 bedroom apartment and that alone puts me above the 1/5th line – I choose to live in Encinitas, but my rent is only 1500 – so I would have to net 7500/month or 90K/year to meet that requirement – I hopefully will get to that point in another year or two, but I am not there yet.
Yes, I could live in a less expensive area of San Diego, but I work in Encinitas, so the cost of driving/commuting would increase to move and the rent would not be thast much lower. I looked around the last time my lease was up and there was just not anything really worth moving for that would save any money over what we have.
I am married with children, so we do need at least 2 bedrooms, and as someone pointed out earlier, young children cost a lot – my wife stays home with them. My point is not to complain, we choose to live in a smaller place in a nicer area so we can save some money and try to get ahead. It was also important to us for my wife to stop working and stay home with our children until they go to school. It makes things tighter financially, but it was important to us, so we have put ourselves in a position to make that happen while still remaining financially responsible.
I mostly just wanted to point out that to meet the 1/5th of your net income to housing is tough in San Diego for anyone not making over 100K per year – and since the median household income in San Diego is around 70K – that means a lot of people here are pretty much out of luck. Of course anyone who bought prior to 2000 or so has no problem with this assuming they have not refinanced…
ParticipantThat is tough in San Diego – I rent a small 2 bedroom apartment and that alone puts me above the 1/5th line – I choose to live in Encinitas, but my rent is only 1500 – so I would have to net 7500/month or 90K/year to meet that requirement – I hopefully will get to that point in another year or two, but I am not there yet.
Yes, I could live in a less expensive area of San Diego, but I work in Encinitas, so the cost of driving/commuting would increase to move and the rent would not be thast much lower. I looked around the last time my lease was up and there was just not anything really worth moving for that would save any money over what we have.
I am married with children, so we do need at least 2 bedrooms, and as someone pointed out earlier, young children cost a lot – my wife stays home with them. My point is not to complain, we choose to live in a smaller place in a nicer area so we can save some money and try to get ahead. It was also important to us for my wife to stop working and stay home with our children until they go to school. It makes things tighter financially, but it was important to us, so we have put ourselves in a position to make that happen while still remaining financially responsible.
I mostly just wanted to point out that to meet the 1/5th of your net income to housing is tough in San Diego for anyone not making over 100K per year – and since the median household income in San Diego is around 70K – that means a lot of people here are pretty much out of luck. Of course anyone who bought prior to 2000 or so has no problem with this assuming they have not refinanced…
ParticipantThat is tough in San Diego – I rent a small 2 bedroom apartment and that alone puts me above the 1/5th line – I choose to live in Encinitas, but my rent is only 1500 – so I would have to net 7500/month or 90K/year to meet that requirement – I hopefully will get to that point in another year or two, but I am not there yet.
Yes, I could live in a less expensive area of San Diego, but I work in Encinitas, so the cost of driving/commuting would increase to move and the rent would not be thast much lower. I looked around the last time my lease was up and there was just not anything really worth moving for that would save any money over what we have.
I am married with children, so we do need at least 2 bedrooms, and as someone pointed out earlier, young children cost a lot – my wife stays home with them. My point is not to complain, we choose to live in a smaller place in a nicer area so we can save some money and try to get ahead. It was also important to us for my wife to stop working and stay home with our children until they go to school. It makes things tighter financially, but it was important to us, so we have put ourselves in a position to make that happen while still remaining financially responsible.
I mostly just wanted to point out that to meet the 1/5th of your net income to housing is tough in San Diego for anyone not making over 100K per year – and since the median household income in San Diego is around 70K – that means a lot of people here are pretty much out of luck. Of course anyone who bought prior to 2000 or so has no problem with this assuming they have not refinanced…
ParticipantThat is tough in San Diego – I rent a small 2 bedroom apartment and that alone puts me above the 1/5th line – I choose to live in Encinitas, but my rent is only 1500 – so I would have to net 7500/month or 90K/year to meet that requirement – I hopefully will get to that point in another year or two, but I am not there yet.
Yes, I could live in a less expensive area of San Diego, but I work in Encinitas, so the cost of driving/commuting would increase to move and the rent would not be thast much lower. I looked around the last time my lease was up and there was just not anything really worth moving for that would save any money over what we have.
I am married with children, so we do need at least 2 bedrooms, and as someone pointed out earlier, young children cost a lot – my wife stays home with them. My point is not to complain, we choose to live in a smaller place in a nicer area so we can save some money and try to get ahead. It was also important to us for my wife to stop working and stay home with our children until they go to school. It makes things tighter financially, but it was important to us, so we have put ourselves in a position to make that happen while still remaining financially responsible.
I mostly just wanted to point out that to meet the 1/5th of your net income to housing is tough in San Diego for anyone not making over 100K per year – and since the median household income in San Diego is around 70K – that means a lot of people here are pretty much out of luck. Of course anyone who bought prior to 2000 or so has no problem with this assuming they have not refinanced…
ParticipantThat is tough in San Diego – I rent a small 2 bedroom apartment and that alone puts me above the 1/5th line – I choose to live in Encinitas, but my rent is only 1500 – so I would have to net 7500/month or 90K/year to meet that requirement – I hopefully will get to that point in another year or two, but I am not there yet.
Yes, I could live in a less expensive area of San Diego, but I work in Encinitas, so the cost of driving/commuting would increase to move and the rent would not be thast much lower. I looked around the last time my lease was up and there was just not anything really worth moving for that would save any money over what we have.
I am married with children, so we do need at least 2 bedrooms, and as someone pointed out earlier, young children cost a lot – my wife stays home with them. My point is not to complain, we choose to live in a smaller place in a nicer area so we can save some money and try to get ahead. It was also important to us for my wife to stop working and stay home with our children until they go to school. It makes things tighter financially, but it was important to us, so we have put ourselves in a position to make that happen while still remaining financially responsible.
I mostly just wanted to point out that to meet the 1/5th of your net income to housing is tough in San Diego for anyone not making over 100K per year – and since the median household income in San Diego is around 70K – that means a lot of people here are pretty much out of luck. Of course anyone who bought prior to 2000 or so has no problem with this assuming they have not refinanced…
ParticipantFigures – the larger increase in short sales is apparent, as is the increase as opposed to decrease in listings. Any hypotheses as to what is going on? Picking back up after things were slow from the fires? One thing that is interestng to me is that despite the ever increasing number of REO’s we are still seeing an increase in short sales – I would think that some of the short sales are converting to REO – so the increase in short sales maybe is happenning at a faster pace than we see in this data? That is just speculation of course, but watching the market change on a weekly basis leaves lots of time for that.
[img_assist|nid=5465|title= Short Sales and Total Listings|desc=|link=node|align=left|width=466|height=289]
[img_assist|nid=5466|title= Percent Change and Percent Short of Total|desc=|link=node|align=left|width=466|height=289]ParticipantFigures – the larger increase in short sales is apparent, as is the increase as opposed to decrease in listings. Any hypotheses as to what is going on? Picking back up after things were slow from the fires? One thing that is interestng to me is that despite the ever increasing number of REO’s we are still seeing an increase in short sales – I would think that some of the short sales are converting to REO – so the increase in short sales maybe is happenning at a faster pace than we see in this data? That is just speculation of course, but watching the market change on a weekly basis leaves lots of time for that.
[img_assist|nid=5465|title= Short Sales and Total Listings|desc=|link=node|align=left|width=466|height=289]
[img_assist|nid=5466|title= Percent Change and Percent Short of Total|desc=|link=node|align=left|width=466|height=289]ParticipantFigures – the larger increase in short sales is apparent, as is the increase as opposed to decrease in listings. Any hypotheses as to what is going on? Picking back up after things were slow from the fires? One thing that is interestng to me is that despite the ever increasing number of REO’s we are still seeing an increase in short sales – I would think that some of the short sales are converting to REO – so the increase in short sales maybe is happenning at a faster pace than we see in this data? That is just speculation of course, but watching the market change on a weekly basis leaves lots of time for that.
[img_assist|nid=5465|title= Short Sales and Total Listings|desc=|link=node|align=left|width=466|height=289]
[img_assist|nid=5466|title= Percent Change and Percent Short of Total|desc=|link=node|align=left|width=466|height=289]ParticipantFigures – the larger increase in short sales is apparent, as is the increase as opposed to decrease in listings. Any hypotheses as to what is going on? Picking back up after things were slow from the fires? One thing that is interestng to me is that despite the ever increasing number of REO’s we are still seeing an increase in short sales – I would think that some of the short sales are converting to REO – so the increase in short sales maybe is happenning at a faster pace than we see in this data? That is just speculation of course, but watching the market change on a weekly basis leaves lots of time for that.
[img_assist|nid=5465|title= Short Sales and Total Listings|desc=|link=node|align=left|width=466|height=289]
[img_assist|nid=5466|title= Percent Change and Percent Short of Total|desc=|link=node|align=left|width=466|height=289]ParticipantFigures: The short sales are still increasing, a little more than last week (low activity from the fires?)and the total listings are definitely going back down. Rich’s comments in the new housing data pretty much sum things up though – the listings are decreasing slightly, but coupled with sales in the basement makes huge difference in supply vs. demand – add to that short sales listings still going up (ai.e. possibly distressed) and things are getting interesting.
[img_assist|nid=5409|title= Short Sales and Total Listings|desc=|link=node|align=left|width=466|height=351]
[img_assist|nid=5410|title= Percent Change and Percent short of Total|desc=|link=node|align=left|width=466|height=351] -
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