[Ex-SD]

I spent a couple of hours looking at pictures on sdlookup.com at houses and condos for sale in San Diego. Many of them are empty (even more than I suspected) and when you look at the “days on the market” statistics, it really gives you a clear picture of what’s going to happen if sellers don’t get realistic with their pricing. All had mortgages and it’s hard for me to comprehend that a seller would continue to pay the costs associated with carrying these properties each month without taking some kind of aggressive action to get them off their backs, NOW!

From a buyers perspective, frankly, I’m amazed that anyone would buy a home in SoCal or any bubble market at the present time but there are still those that don’t believe that prices will be driven down much further than the present asking prices. But since there are still buyers in the market, wouldn’t you think that the sellers who really need to move these unoccupied properties would do something more than sit on their hands and wait for an idiot to wander in their property with a wallet in their mouth? Dumb…….dumb…………dumb! Obviously, many of these sellers have never had any experience with selling a big ticket item of any sort or they have become too used to the ridiculous mindset that has prevailed in CA for far too long that properties sell for full list price (or more). Surprise!

[Ex-SD]

I spent a couple of hours looking at pictures on sdlookup.com at houses and condos for sale in San Diego. Many of them are empty (even more than I suspected) and when you look at the “days on the market” statistics, it really gives you a clear picture of what’s going to happen if sellers don’t get realistic with their pricing. All had mortgages and it’s hard for me to comprehend that a seller would continue to pay the costs associated with carrying these properties each month without taking some kind of aggressive action to get them off their backs, NOW!

From a buyers perspective, frankly, I’m amazed that anyone would buy a home in SoCal or any bubble market at the present time but there are still those that don’t believe that prices will be driven down much further than the present asking prices. But since there are still buyers in the market, wouldn’t you think that the sellers who really need to move these unoccupied properties would do something more than sit on their hands and wait for an idiot to wander in their property with a wallet in their mouth? Dumb…….dumb…………dumb! Obviously, many of these sellers have never had any experience with selling a big ticket item of any sort or they have become too used to the ridiculous mindset that has prevailed in CA for far too long that properties sell for full list price (or more). Surprise!

[Ex-SD]

SD Realtor: You can lead a horse to water but (you know the rest of the story)……….

Any real estate agent who takes that listing will live to regret the decision because the seller is too ignorant and emotionally caught up in the fantasy of what his property is worth to deal with the reality of today’s changing real estate market. Once it is listed, it will simply sit and sit and sit and when he doesn’t get any offers, he will blame the agent. Good on you for not taking the listing on his terms.

[Ex-SD]

SD Realtor: You can lead a horse to water but (you know the rest of the story)……….

Any real estate agent who takes that listing will live to regret the decision because the seller is too ignorant and emotionally caught up in the fantasy of what his property is worth to deal with the reality of today’s changing real estate market. Once it is listed, it will simply sit and sit and sit and when he doesn’t get any offers, he will blame the agent. Good on you for not taking the listing on his terms.

[Ex-SD]

SD Realtor: You can lead a horse to water but (you know the rest of the story)……….

Any real estate agent who takes that listing will live to regret the decision because the seller is too ignorant and emotionally caught up in the fantasy of what his property is worth to deal with the reality of today’s changing real estate market. Once it is listed, it will simply sit and sit and sit and when he doesn’t get any offers, he will blame the agent. Good on you for not taking the listing on his terms.

[Ex-SD]

From the L.A. Times: “SoCal Home sales Slowest Since 1995”

Linked to this article: http://www.dqnews.com/RRSCA0807.shtm

[Ex-SD]

From the L.A. Times: “SoCal Home sales Slowest Since 1995”

Linked to this article: http://www.dqnews.com/RRSCA0807.shtm

[Ex-SD]

From the L.A. Times: “SoCal Home sales Slowest Since 1995”

Linked to this article: http://www.dqnews.com/RRSCA0807.shtm

[Ex-SD]

PerryChase, You and I are on the same page. Incomes will not rise enough to enable buyers to qualify for mortgages (unless they re-introduce these wacky mortgage products again) until 2017 or later.

[Ex-SD]

PerryChase, You and I are on the same page. Incomes will not rise enough to enable buyers to qualify for mortgages (unless they re-introduce these wacky mortgage products again) until 2017 or later.

[Ex-SD]

PerryChase, You and I are on the same page. Incomes will not rise enough to enable buyers to qualify for mortgages (unless they re-introduce these wacky mortgage products again) until 2017 or later.

[Ex-SD]

Chamberlin needs to watch this:

[Ex-SD]

Chamberlin needs to watch this:

[Ex-SD]

Chamberlin needs to watch this:

[Ex-SD]

If you haven’t watched this yet………..you should. Dr. Thornberg tells it like it is. Data Quick should hire him to report the true status of the housing market. The only thing I disagree with him about is that he believes prices will drop to where they should be to equal the buying power of the consumer………..but that prices will return to where they are today by 2012. I don’t think that’s possible because buying power of the consumer can’t possibly match today’s housing prices for many, many years. However, he did this presentation in November of 2006 and I wonder if he’s changed his predictions now that he sees how this is unfolding in the middle of 2007?

Good find!

[Author]

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