[BuyerWillEPB]

These sellers expect the next fool to pay $33,500 more than what they paid for this Loan. The least they could do is include those appliances with the deal. Although, that would be some very expensive appliances.

[BuyerWillEPB]

It’s true that now is a BETTER time to buy then the same time last year. But still not a “good” time from what we know in these posts. Good or bad is all relative.

Your post brings up an important topic, though. We should all be cautious of the propaganda that will certainly be flooding in from both public and private entities. Just take a look at the front page of the Home section in the Union Tribune today. There is a story about the Cedar fire victims who finally rebuilt their homes but they missed the boom times and can’t sell at the crazy prices anymore. Watch how the story plays up the “Twice Victims” routine. Yes, poooor home sellers. Now that’s propaganda at its finest.

[BuyerWillEPB]

You’re very welcome Crispy. It’s like you said, “every little bit helps.” You did the right thing.

It’s also like “whitesoftheireyes” says in this post. All the industries are colluding together to try and keep this huge ponzi scheme running. Even the government will step in eventually and try to help prevent a crash. They will say they do it to help the FBs and banks from forclosures, but the real reason will be their loss of the huge tax base. Think about it, if (when) housing crashes, then all property taxes will have to be rolled back to the new (real) value of property. The city/state/fed governments are broke in the best of times these last few years. What will they do when they start losing the property taxes, sales taxes, fees, mello roos, … so on. Always follow the money trail my friends that will tell you the truth. It’s the only true path for the powers that be anyway.

So yeah, I’m on your side Crispy and Whitesoftheireyes! All of us little people need to stick together.

[BuyerWillEPB]

Here is one source for the approximate 70% ARM loans in San Diego.

“At the peak of the buying boom, he said, as many as 35 percent of borrowers nationally were signing up for ARMs. In San Diego the figure sometimes exceeded 70 percent, DataQuick has reported.”

Link:

http://www.signonsandiego.com/news/business/20061014-9999-1b14default.html

[BuyerWillEPB]

I agree with you, Perry. That part of UTC is a condo (and traffic) hell. Prices will, and should crash there.

Even more, though. It is the arrogance of the sellers these last few years, epitomized by the “Sellers will entertain offers between: $240,000-$274,876,” that really bothers me most.

Hence my pen name. This buyer “will entertain prices below” local trend line based on fundamentals like median wages.

Power to the Piggingtons!

(Man, I am in a silly mood today for some reason. Must be euphoria from todays headlines. Woohoo!)

[BuyerWillEPB]

Hehee! This is a good post.

Oh! Also, I’m on Crispy’s side. “Buy later” 🙂

[BuyerWillEPB]

I agree with LA Renter. Personally, I have no choice but to “wait on the sidelines,” is the line I hear so much lately. Of course I sit there, I was priced out of the market years ago.

As far as not “holding my breath,” as Pasadena Broker cautions…

From what I see at http://thehousingbubbleblog.com/?p=1670 today, It’s the sellers in that condition, not the buyers.

Quoted:

“‘We consider it a success story,’ Shelly Taylor said Friday. ‘We paid the closing costs and met some other demands, too, but that’s really what you have to do. We were holding our breath there,’ she said, as the home competed with six others for sale nearby in the neighborhood.”

[BuyerWillEPB]

It’s true that my involuntary homelessness has biased me towards the “sky is falling” camp. However, I always try to consider and respect various opinions like Dacounselor. This is how to find strengths and weaknesses in your own argument. I hope to hear more.

[BuyerWillEPB]

I read this story in the morning AM too. It’s going to be a downward spiral. However, I DID expect things to happen this fast. Actually, since there are no fundamentals to support any of this, everything should be happening faster.

By the way, how do you make the html link, or italics… things like that on this post?

I’m an html dummy. There should be a tutorial posted somewhere to help us post.

[BuyerWillEPB]

Forgot to include the link:

http://www.latimes.com/business/la-fi-homes13oct13,1,2494895.story?coll=la-mininav-business

[BuyerWillEPB]

Thanks for the post EZ. I hope this site can get their act together in an accurate and timely manner. They do have real potential I think, but at the moment they seem to have problems.

[BuyerWillEPB]

I believe most of these predictions are based on sour grapes (regretting missing the opportunity to buy earlier)

I have to admit there is some truth to this post, and it does sting a bit. Better to deal with truth and work through it.

Back in 1998 I realized I needed to get a Bachelors degree if I wanted to buy a house here in San Diego, and move ahead in life. My goal was to graduate, get a good job, buy a house and stay in San Diego forever. Well, during the time I was at UCSD, the housing costs doubled, and tripled in some cases. After I graduated, and got a good job, I STILL could not afford to buy a house. Imagine, an engineer cannot afford a house in San Diego. That’s disgusting. So yes, I do harbor some resentment at this crazy RE market.

With the help of everyone in this site, I’ll get that house someday. I hope so anyway.

[BuyerWillEPB]

You must be saying the “soft landing” part sarcastically, true? Seems that way.

I think the conventional media must remain conservative in their reporting so that they don’t lose credibility. Just keep in mind the general trend of the reporting lagging behind actual events. At first the consensus was, “Real Estate never goes down,” to “the worst will be if RE goes flat for awhile,” to “we might see a slight 2% decline,” to now the estimated “8.5% decline in San Diego.” As you mention, many parts of San Diego have already declined more than that. The Mira Mesa area seems to be heading into panic mode from what I saw driving around two weeks ago.

I agree with you, sounds like pretty “tame” reporting.

P.S. Love the poorgradstudent call sign. That is soooo SD. 🙂

[BuyerWillEPB]

Instead of sellers wasting $20 on a St. Joseph kit to bury in the ground, why don’t these fools reduce the price of the house another $20 for the unfortunate buyer. That would make more sense.

Maybe buyers should also seek some divine intervention for assistance. I think the Great Hammer of Thor would be appropriate to help crush high prices back down to earth.

[BuyerWillEPB]

Yes! I like that even better, “Buyer will entertain prices below…” 🙂

If you go to zillow.com and enter an address, you will see at the top, “One week change: ” then “zestimate: ” then below that, “Last Updated: .” These are the items that were updated weekly – and now every 3-4 weeks IMO.

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