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ParticipantMy sense of it is that a lot of businesses are playing with their numbers on their quarterly reports, but are eventually going to have to come clean when their annual reports come due. I’m looking for a lot of really bad news as these companies restate their earnings at year’s end.
I think it’s starting to come to a head.
July 21, 2007 at 9:20 PM in reply to: Help from Realtors: what’s my friend’s house worth now? #66893ParticipantGreat, but it’s still not a comp as far as an appraisal would be concerned.
July 21, 2007 at 9:20 PM in reply to: Help from Realtors: what’s my friend’s house worth now? #66958ParticipantGreat, but it’s still not a comp as far as an appraisal would be concerned.
ParticipantI made the mistake last time in thinking that people would learn their lesson after suffering those losses during the 1990s. Not only did real estate speculation come back, it came back 3 times stronger than it had before. Now I know. This will happen over and over again and it is only limited by the availability of investment capital, whether its source is here or abroad. So far, I think we’ve been a good choice for foreign investors because our economy has been perceived as being more stable (as opposed to more profitable) than these emerging economies elsewhere.
For every American who wants to build a solid and sustainable future there are at least 2 dozen who aspire to the Mercedes + McMansion combo with a Hummer on the side. And they want to do it with no visible means of support. Everyone wants to be a rock star.
ParticipantI made the mistake last time in thinking that people would learn their lesson after suffering those losses during the 1990s. Not only did real estate speculation come back, it came back 3 times stronger than it had before. Now I know. This will happen over and over again and it is only limited by the availability of investment capital, whether its source is here or abroad. So far, I think we’ve been a good choice for foreign investors because our economy has been perceived as being more stable (as opposed to more profitable) than these emerging economies elsewhere.
For every American who wants to build a solid and sustainable future there are at least 2 dozen who aspire to the Mercedes + McMansion combo with a Hummer on the side. And they want to do it with no visible means of support. Everyone wants to be a rock star.
ParticipantSorry about your brothers house and his business. Thanks for answering my query about the business. A hair salon isn’t the type of business that is overly dependent on RE, so we can’t blame a weak market on that failure.
ParticipantSorry about your brothers house and his business. Thanks for answering my query about the business. A hair salon isn’t the type of business that is overly dependent on RE, so we can’t blame a weak market on that failure.
ParticipantPast a certain point it somewhat doesn’t matter how many listings there are. Too many is too many, and only the most motivated (i.e., distressed) sellers are going to compete hard enough to be among the few.
92126 had a total of 58 sales in June 2007 and 92127 had 42 sales. What difference does it make if a zip area only has 400% more listings than sales vs 500%?
ParticipantPast a certain point it somewhat doesn’t matter how many listings there are. Too many is too many, and only the most motivated (i.e., distressed) sellers are going to compete hard enough to be among the few.
92126 had a total of 58 sales in June 2007 and 92127 had 42 sales. What difference does it make if a zip area only has 400% more listings than sales vs 500%?
ParticipantThis is just a tangent: Out of curiosity, what type of business did your brother start and how did it fail?
I’m just asking in generalities; I’m not asking for specifics, nor am I fishing for something to criticize. What I’m curious about is whether his business was directly related to real estate (buying, selling, financing, improving, etc), indirectly related to real estate (goods or services largely supported by RE equity withdrawals) or completely unrelated to and independent of real estate.
Many of the businesses I see over in the business parks in the Temecula/Murietta areas are either directly related to real estate or else are indirectly related. Virtually all the motorsports and other lifestyle businesses seem to run off of equity extraction and RE wages/compensation and RE profits. There seem to be very few new businesses over there that would be unaffected from a RE downturn.
ParticipantThis is just a tangent: Out of curiosity, what type of business did your brother start and how did it fail?
I’m just asking in generalities; I’m not asking for specifics, nor am I fishing for something to criticize. What I’m curious about is whether his business was directly related to real estate (buying, selling, financing, improving, etc), indirectly related to real estate (goods or services largely supported by RE equity withdrawals) or completely unrelated to and independent of real estate.
Many of the businesses I see over in the business parks in the Temecula/Murietta areas are either directly related to real estate or else are indirectly related. Virtually all the motorsports and other lifestyle businesses seem to run off of equity extraction and RE wages/compensation and RE profits. There seem to be very few new businesses over there that would be unaffected from a RE downturn.
ParticipantI know that some of the commerical loan programs are increasing their rates. I’m working on an assignment right now where the bank is offering an 8.5% interest rate on a 15-year loan.
ParticipantI know that some of the commerical loan programs are increasing their rates. I’m working on an assignment right now where the bank is offering an 8.5% interest rate on a 15-year loan.
ParticipantYou’re talking about mixing several different uses on a single site – you will most likely need a conditional use permit and possibly an application to change zoning on such a site. There will be traffic impacts for this type of project, neighbors to deal with and licensing for the various operations.
You might have better luck putting something like this in one of the business parks off of Scripps Poway Parkway so long as you can work the traffic and provide adequate onsite parking. Your chances of running into NIMBY opposition will be significantly reduced.
If you try and do this in a residential area you’ll probably run into a lot of problems, the NIMBYs being only one of them. Costs will probably run a lot higher, too.
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