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October 19, 2006 at 12:12 PM in reply to: Year to Year price changes for Ventura and Los Angeles real estate #38040
Diego Mamani
ParticipantCheck this link
ParticipantThere is so much bs on this board, “both my kids are gifted” Puke.
Hey desmoJ, perhaps the kids are gifted, but not their parents (who don’t bother with modesty).
ParticipantPeople don’t get it… Zillow is not supposed to replace an appraiser or be “accurate”. It has some hard facts that are very useful: sale history, nearby comps, square footage, year built, pictures from many angles, etc. That alone makes it very valuable. The “zestimate” is an educated guess based on a formula they compute based on a number of factors. What surprises me is how so many people are “shocked” that zillow estimates are off. Of course they are off! Do you expect Zillow to appraise each house individually? There are millions of houses in their system, and “values” are simply as crunched by a computer. Is that so hard to understand?
September 9, 2006 at 12:57 AM in reply to: State takes action against mortgage firms, citing alleged abuses #34797ParticipantHmmm… too late. My guess is that regulators are in full-blown CYA mode. What’s really pathetic about this, is that when the next boom comes around, several years from now, mortgage brokers will go back to these same predatory practices. And, like now, regulators will be too late to act.
ParticipantExcellent post bgates! A dose of humility certainly benefits all, but especially bloggers who routinely claim 20/20 foresight.
ParticipantOr cut and paste? After all, quoting sections for discussion purposes, provided the source is credited, is considered fair use.
ParticipantYou are right davelj. You must be new to the blogosphere… where such gems as “the market is clueless as usual” and “I can time the RE market” are posted all the time. Or someone predicting high inflation and utter chaos in one post, and then predicting deflation and utter chaos in the next thread.
There are some very bright posters here, but because of low barriers to entry, some posters could be 6-year olds pulling our legs. Some posters sound very assertive and authoritative, regardless of whether they know what they are talking about. But we get to used to it, and learn to tell the good from the not so good.
ParticipantI wonder if realtors like that really believe what they say. It’s funny how that 1907 book has a large section on Coronado, and all the excitement that took place in the 1870s and 1880s when the Del Coronado hotel was built. I guess, when the next housing boom starts, Coronado will be “discovered” again.
ParticipantGreat info! Keep up the good work.
Participantsdrealtor, that’s amazing.
I told my ex how I will (hopefully) never be a WM greeter thanks to my frugal lifestyle and all the net worth I have before age 40, thanks in part to cashing out of RE at the peak of the bubble. She replied “well, some of them (greeters) do it because they like to work”. “I don’t think so,” I replied, “they like to eat!”
ParticipantParticipantRichard A. Snyder, a broker in San Diego who is chairman of the California Association of Realtors’ long-term planning committee, said: ”We are [1990] in an adjustment period. My personal view is that we are going into a cyclical downturn that could last one-and-a-half to two years.”
Prices started falling in 1990 and didn’t stop shrinking until 1996, at least! Even though there were severe job losses when the aerospace employers shut down, and then a mild recession in 1991-92, house prices were still very sticky on the way down: the “correction” continued as far out as 1996.
This has implications for today’s down side of the cycle: don’t expect all or most of the correction to take place only in a year or two like realtor Snyder said back in 1990. It’ll be a looooooooong and painful adjustment process.
ParticipantWe should take a hint from Shiller, a bright scholar who really knows what is going on, and who refused to make predictions on air last night. Like market-timing, making predictions is a fool’s game.
If I had to guess, I would say 30% to 40% in real terms in 5 to 10 years, for SFRs in LA and SD. But I wouldn’t bet on it!
Participant“So just because we can afford certain programs, we should offer them to illegals? I’m not buying that.”
I never made that argument. My point is that Mexico can’t afford food stamps, etc. Again, immigration is not about public services or programs, it’s about the wage differential between the two countries. The fact that you refer to human beings as “illegals” says a lot about you, such as your belief that immigrants come to this country for free public services. (I’m perfectly aware that I won’t be able to change your belief, as it is an article of faith.)
“How would you know that if you don’t listen to him yourself?”
There’s no need to listen to him. I just read your posting. What other conclusion can be derived from Limbaugh’s diatribe? His harangue can be summarized as “we don’t have to welcome them because they don’t welcome others”.
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