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Ex-SD
Participant$350k-$380k median price?……..ha ha ha ha ha ha ha ha ha
The median won’t even be $300k because most of the people in San Diego don’t make enough money to be able to qualify for a loan for $240k (and that’s after paying $60k down plus closing costs………which most also do NOT have). I’m guessing a median of $250k-$260k. Time will tell.Participant$350k-$380k median price?……..ha ha ha ha ha ha ha ha ha
The median won’t even be $300k because most of the people in San Diego don’t make enough money to be able to qualify for a loan for $240k (and that’s after paying $60k down plus closing costs………which most also do NOT have). I’m guessing a median of $250k-$260k. Time will tell.October 29, 2007 at 7:14 AM in reply to: North County coastal prices — will they ever decline? #92816ParticipantIf history repeats itself…………AND IT WILL…………………..the coastal communities are usually the last to drop but they DO drop just like everywhere else. If you watch the L.A. blogs, high end communities like Santa Monica and Pacific Palisades are now beginning to feel the heat and prices are dropping.
I am firmly convinced that we won’t see the bottom until the end of 2011 or the middle of 2012 (at the earliest). Whenever the bottom hits, prices will not rebound overnight just like they didn’t go to the top overnight………..so you’ll have plenty of time to shop when you are convinced that the bottom has been found. There are no guarantees but the trends with bubbles in the housing market in this country have always repeated themselves since 1890 so there is little reason to believe that this one will be shorter or have less impact. All the signs are there that this one will have more impact due to the crazy lending policies and easy money that was available. Buying in a bubble market before that time is like going to Las Vegas and playing the $1000 slot machines……………you’ll probably lose a lot of money.
**There is always the possibility that interest rates will be much higher by the time the bottom hits (or thereafter) which is something that you will have to factor in but nobody can say for sure.
October 29, 2007 at 7:14 AM in reply to: North County coastal prices — will they ever decline? #92847ParticipantIf history repeats itself…………AND IT WILL…………………..the coastal communities are usually the last to drop but they DO drop just like everywhere else. If you watch the L.A. blogs, high end communities like Santa Monica and Pacific Palisades are now beginning to feel the heat and prices are dropping.
I am firmly convinced that we won’t see the bottom until the end of 2011 or the middle of 2012 (at the earliest). Whenever the bottom hits, prices will not rebound overnight just like they didn’t go to the top overnight………..so you’ll have plenty of time to shop when you are convinced that the bottom has been found. There are no guarantees but the trends with bubbles in the housing market in this country have always repeated themselves since 1890 so there is little reason to believe that this one will be shorter or have less impact. All the signs are there that this one will have more impact due to the crazy lending policies and easy money that was available. Buying in a bubble market before that time is like going to Las Vegas and playing the $1000 slot machines……………you’ll probably lose a lot of money.
**There is always the possibility that interest rates will be much higher by the time the bottom hits (or thereafter) which is something that you will have to factor in but nobody can say for sure.
October 29, 2007 at 7:14 AM in reply to: North County coastal prices — will they ever decline? #92861ParticipantIf history repeats itself…………AND IT WILL…………………..the coastal communities are usually the last to drop but they DO drop just like everywhere else. If you watch the L.A. blogs, high end communities like Santa Monica and Pacific Palisades are now beginning to feel the heat and prices are dropping.
I am firmly convinced that we won’t see the bottom until the end of 2011 or the middle of 2012 (at the earliest). Whenever the bottom hits, prices will not rebound overnight just like they didn’t go to the top overnight………..so you’ll have plenty of time to shop when you are convinced that the bottom has been found. There are no guarantees but the trends with bubbles in the housing market in this country have always repeated themselves since 1890 so there is little reason to believe that this one will be shorter or have less impact. All the signs are there that this one will have more impact due to the crazy lending policies and easy money that was available. Buying in a bubble market before that time is like going to Las Vegas and playing the $1000 slot machines……………you’ll probably lose a lot of money.
**There is always the possibility that interest rates will be much higher by the time the bottom hits (or thereafter) which is something that you will have to factor in but nobody can say for sure.
ParticipantMy point was that……………The entire thread doesn’t belong here….
ParticipantMy point was that……………The entire thread doesn’t belong here….
ParticipantMy point was that……………The entire thread doesn’t belong here….
ParticipantThis is NOT the proper place to thump your bible and push your religious faith & beliefs. Take it somewhere else.
ParticipantThis is NOT the proper place to thump your bible and push your religious faith & beliefs. Take it somewhere else.
ParticipantThis is NOT the proper place to thump your bible and push your religious faith & beliefs. Take it somewhere else.
Participantdingo: It takes a looooooong time to rebuild in SD after a fire due to the ridiculous bureaucratic pile of paperwork & approvals that must first be dealt with. Also, prior to the fires, San Diego’s vacancy rate for rentals had been rising (according to a story in the U.T. several months ago). Prices didn’t go to the heights that they achieved overnight and they won’t come down overnight. It will take time and anyone who buys in SoCal within the next four years (at the earliest) will have paid too much for their home. The bottom is a long way off in relation to time and $$$$$$. There are too many forces working against sellers to prop up the prices and all the signs point to a return of the prices that we saw in 1998-1999.
Participantdingo: It takes a looooooong time to rebuild in SD after a fire due to the ridiculous bureaucratic pile of paperwork & approvals that must first be dealt with. Also, prior to the fires, San Diego’s vacancy rate for rentals had been rising (according to a story in the U.T. several months ago). Prices didn’t go to the heights that they achieved overnight and they won’t come down overnight. It will take time and anyone who buys in SoCal within the next four years (at the earliest) will have paid too much for their home. The bottom is a long way off in relation to time and $$$$$$. There are too many forces working against sellers to prop up the prices and all the signs point to a return of the prices that we saw in 1998-1999.
Participantdingo: It takes a looooooong time to rebuild in SD after a fire due to the ridiculous bureaucratic pile of paperwork & approvals that must first be dealt with. Also, prior to the fires, San Diego’s vacancy rate for rentals had been rising (according to a story in the U.T. several months ago). Prices didn’t go to the heights that they achieved overnight and they won’t come down overnight. It will take time and anyone who buys in SoCal within the next four years (at the earliest) will have paid too much for their home. The bottom is a long way off in relation to time and $$$$$$. There are too many forces working against sellers to prop up the prices and all the signs point to a return of the prices that we saw in 1998-1999.
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