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ParticipantFYI, for those of you who consider yourselves property barons in training, we’re rapidly getting to the point where rents pencil on residential properties here in SD County. I’ve seen some 3-4 unit properties in a couple areas that are now selling for 100x monthly rents. A handful have sold even lower than that. To get there, their REO resale prices have been coming in 40% – as much as 50% below their prior sales at the top of the market.
And the bulls said it would never happen here. LOL
Different market segments will arrive their respective trigger points at different times. After a certain point the availability and terms of mortgage financing is going to be more of a factor than whether the sale prices have reached absolute bottom.
As TG said, if you think the prices are within 10% or 15% of their eventual bottom then maybe you really should consider the merits of the bird in hand.
ParticipantFYI, for those of you who consider yourselves property barons in training, we’re rapidly getting to the point where rents pencil on residential properties here in SD County. I’ve seen some 3-4 unit properties in a couple areas that are now selling for 100x monthly rents. A handful have sold even lower than that. To get there, their REO resale prices have been coming in 40% – as much as 50% below their prior sales at the top of the market.
And the bulls said it would never happen here. LOL
Different market segments will arrive their respective trigger points at different times. After a certain point the availability and terms of mortgage financing is going to be more of a factor than whether the sale prices have reached absolute bottom.
As TG said, if you think the prices are within 10% or 15% of their eventual bottom then maybe you really should consider the merits of the bird in hand.
ParticipantFYI, for those of you who consider yourselves property barons in training, we’re rapidly getting to the point where rents pencil on residential properties here in SD County. I’ve seen some 3-4 unit properties in a couple areas that are now selling for 100x monthly rents. A handful have sold even lower than that. To get there, their REO resale prices have been coming in 40% – as much as 50% below their prior sales at the top of the market.
And the bulls said it would never happen here. LOL
Different market segments will arrive their respective trigger points at different times. After a certain point the availability and terms of mortgage financing is going to be more of a factor than whether the sale prices have reached absolute bottom.
As TG said, if you think the prices are within 10% or 15% of their eventual bottom then maybe you really should consider the merits of the bird in hand.
ParticipantFYI, for those of you who consider yourselves property barons in training, we’re rapidly getting to the point where rents pencil on residential properties here in SD County. I’ve seen some 3-4 unit properties in a couple areas that are now selling for 100x monthly rents. A handful have sold even lower than that. To get there, their REO resale prices have been coming in 40% – as much as 50% below their prior sales at the top of the market.
And the bulls said it would never happen here. LOL
Different market segments will arrive their respective trigger points at different times. After a certain point the availability and terms of mortgage financing is going to be more of a factor than whether the sale prices have reached absolute bottom.
As TG said, if you think the prices are within 10% or 15% of their eventual bottom then maybe you really should consider the merits of the bird in hand.
ParticipantI thought the $450k projection was low but I think the $625k projection is high. SFT is not La Jolla. It’s not even Carmel Valley.
Temeculaguy’s pain train hasn’t even pulled into So. Carlsbad yet. When it does, there will be some catching up to do.
It’s all connected.
ParticipantI thought the $450k projection was low but I think the $625k projection is high. SFT is not La Jolla. It’s not even Carmel Valley.
Temeculaguy’s pain train hasn’t even pulled into So. Carlsbad yet. When it does, there will be some catching up to do.
It’s all connected.
ParticipantI thought the $450k projection was low but I think the $625k projection is high. SFT is not La Jolla. It’s not even Carmel Valley.
Temeculaguy’s pain train hasn’t even pulled into So. Carlsbad yet. When it does, there will be some catching up to do.
It’s all connected.
ParticipantI thought the $450k projection was low but I think the $625k projection is high. SFT is not La Jolla. It’s not even Carmel Valley.
Temeculaguy’s pain train hasn’t even pulled into So. Carlsbad yet. When it does, there will be some catching up to do.
It’s all connected.
ParticipantI thought the $450k projection was low but I think the $625k projection is high. SFT is not La Jolla. It’s not even Carmel Valley.
Temeculaguy’s pain train hasn’t even pulled into So. Carlsbad yet. When it does, there will be some catching up to do.
It’s all connected.
ParticipantIf you think the market in Austin will turn around sometime in the next few years then the strategy of trying to wait the market out might make some sense. The key, of course, is dependent on what you think the long term trend for that area is.
If the property were here, I’d tell you to discount it like you really mean it and get out now before it gets even worse. But that’s because I am of the opinion that this type of home in this area is going to take a beating for the next few years.
Austin was late to the speculation party and apparently has also lagged going into correction. That doesn’t mean it’s immune or that the correction will somehow overlook that area.
ParticipantIf you think the market in Austin will turn around sometime in the next few years then the strategy of trying to wait the market out might make some sense. The key, of course, is dependent on what you think the long term trend for that area is.
If the property were here, I’d tell you to discount it like you really mean it and get out now before it gets even worse. But that’s because I am of the opinion that this type of home in this area is going to take a beating for the next few years.
Austin was late to the speculation party and apparently has also lagged going into correction. That doesn’t mean it’s immune or that the correction will somehow overlook that area.
ParticipantIf you think the market in Austin will turn around sometime in the next few years then the strategy of trying to wait the market out might make some sense. The key, of course, is dependent on what you think the long term trend for that area is.
If the property were here, I’d tell you to discount it like you really mean it and get out now before it gets even worse. But that’s because I am of the opinion that this type of home in this area is going to take a beating for the next few years.
Austin was late to the speculation party and apparently has also lagged going into correction. That doesn’t mean it’s immune or that the correction will somehow overlook that area.
ParticipantIf you think the market in Austin will turn around sometime in the next few years then the strategy of trying to wait the market out might make some sense. The key, of course, is dependent on what you think the long term trend for that area is.
If the property were here, I’d tell you to discount it like you really mean it and get out now before it gets even worse. But that’s because I am of the opinion that this type of home in this area is going to take a beating for the next few years.
Austin was late to the speculation party and apparently has also lagged going into correction. That doesn’t mean it’s immune or that the correction will somehow overlook that area.
ParticipantIf you think the market in Austin will turn around sometime in the next few years then the strategy of trying to wait the market out might make some sense. The key, of course, is dependent on what you think the long term trend for that area is.
If the property were here, I’d tell you to discount it like you really mean it and get out now before it gets even worse. But that’s because I am of the opinion that this type of home in this area is going to take a beating for the next few years.
Austin was late to the speculation party and apparently has also lagged going into correction. That doesn’t mean it’s immune or that the correction will somehow overlook that area.
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