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February 23, 2008 at 12:53 PM in reply to: Temperature Check for 2008 – Now how low do you think it will go? #158307February 23, 2008 at 12:53 PM in reply to: Temperature Check for 2008 – Now how low do you think it will go? #158601
Ex-SD
ParticipantIMHO: 50%-70% by the time it hits bottom. There’s already a ton of inventory out there and it’s going to grow even more as the foreclosures continue, ARM’s reset and people who have to sell due to job loss in a weakening economy lose their jobs, etc. You just can’t have that much inventory without it severely attacking prices. Six months ago, when I first came on this board, I posted that I thought Temecula would fall like a rock and fall long before San Diego. Then it would creep down into areas closer to SD and then into the expensive, more desirable areas. (I’m talking single family homes: not condo’s) They were a sure bet to fall first and fast due to the overbuilding, high fees, bums peeing and defecating on the entrance to the buildings and other problems associated with living downtown. There are only a limited number of willing, qualified buyers to match the inventory problem and this along with the economy and a myriad of other problems will drive prices down a minimum of 50% in SD and SoCal.
February 23, 2008 at 12:53 PM in reply to: Temperature Check for 2008 – Now how low do you think it will go? #158609ParticipantIMHO: 50%-70% by the time it hits bottom. There’s already a ton of inventory out there and it’s going to grow even more as the foreclosures continue, ARM’s reset and people who have to sell due to job loss in a weakening economy lose their jobs, etc. You just can’t have that much inventory without it severely attacking prices. Six months ago, when I first came on this board, I posted that I thought Temecula would fall like a rock and fall long before San Diego. Then it would creep down into areas closer to SD and then into the expensive, more desirable areas. (I’m talking single family homes: not condo’s) They were a sure bet to fall first and fast due to the overbuilding, high fees, bums peeing and defecating on the entrance to the buildings and other problems associated with living downtown. There are only a limited number of willing, qualified buyers to match the inventory problem and this along with the economy and a myriad of other problems will drive prices down a minimum of 50% in SD and SoCal.
February 23, 2008 at 12:53 PM in reply to: Temperature Check for 2008 – Now how low do you think it will go? #158617ParticipantIMHO: 50%-70% by the time it hits bottom. There’s already a ton of inventory out there and it’s going to grow even more as the foreclosures continue, ARM’s reset and people who have to sell due to job loss in a weakening economy lose their jobs, etc. You just can’t have that much inventory without it severely attacking prices. Six months ago, when I first came on this board, I posted that I thought Temecula would fall like a rock and fall long before San Diego. Then it would creep down into areas closer to SD and then into the expensive, more desirable areas. (I’m talking single family homes: not condo’s) They were a sure bet to fall first and fast due to the overbuilding, high fees, bums peeing and defecating on the entrance to the buildings and other problems associated with living downtown. There are only a limited number of willing, qualified buyers to match the inventory problem and this along with the economy and a myriad of other problems will drive prices down a minimum of 50% in SD and SoCal.
February 23, 2008 at 12:53 PM in reply to: Temperature Check for 2008 – Now how low do you think it will go? #158691ParticipantIMHO: 50%-70% by the time it hits bottom. There’s already a ton of inventory out there and it’s going to grow even more as the foreclosures continue, ARM’s reset and people who have to sell due to job loss in a weakening economy lose their jobs, etc. You just can’t have that much inventory without it severely attacking prices. Six months ago, when I first came on this board, I posted that I thought Temecula would fall like a rock and fall long before San Diego. Then it would creep down into areas closer to SD and then into the expensive, more desirable areas. (I’m talking single family homes: not condo’s) They were a sure bet to fall first and fast due to the overbuilding, high fees, bums peeing and defecating on the entrance to the buildings and other problems associated with living downtown. There are only a limited number of willing, qualified buyers to match the inventory problem and this along with the economy and a myriad of other problems will drive prices down a minimum of 50% in SD and SoCal.
ParticipantJWM: I was scratching my head too. sdr posts are usually cheerleading propaganda for the real estate industry and how it couldn’t possibly go as deep as reality is showing all of us that IT IS going to go.
LOL!ParticipantJWM: I was scratching my head too. sdr posts are usually cheerleading propaganda for the real estate industry and how it couldn’t possibly go as deep as reality is showing all of us that IT IS going to go.
LOL!ParticipantJWM: I was scratching my head too. sdr posts are usually cheerleading propaganda for the real estate industry and how it couldn’t possibly go as deep as reality is showing all of us that IT IS going to go.
LOL!ParticipantJWM: I was scratching my head too. sdr posts are usually cheerleading propaganda for the real estate industry and how it couldn’t possibly go as deep as reality is showing all of us that IT IS going to go.
LOL!ParticipantJWM: I was scratching my head too. sdr posts are usually cheerleading propaganda for the real estate industry and how it couldn’t possibly go as deep as reality is showing all of us that IT IS going to go.
LOL!ParticipantPrices are nowhere near the bottom yet in Temecula.
There was a poster on here several days ago who had posted last year that he was being pressured by his wife to buy in Temecula. Many (and I mean, MANY) of us told him NOT to do it. He bought and now, he and his wife are living in 1900 sq ft and a he can buy a 3200 sq ft home for less money. Do you want to wind up like them?
See the thread: http://piggington.com/harveston_down_the_drainWait until next January and see where the prices are and how things are trending before you throw your money down the toilet and are stuck with a depreciating asset. I’m in the camp that believes the bottom won’t really hit until around 2012 but even if I’m wrong and it comes earlier to Temecula, prices are definitely NOT going to shoot back up overnight, nor will there be a lack of inventory to choose from for years. Time is on the side of the buyers…….IN SPADES! Rent, relax and take your time to see where all of this is headed.
ParticipantPrices are nowhere near the bottom yet in Temecula.
There was a poster on here several days ago who had posted last year that he was being pressured by his wife to buy in Temecula. Many (and I mean, MANY) of us told him NOT to do it. He bought and now, he and his wife are living in 1900 sq ft and a he can buy a 3200 sq ft home for less money. Do you want to wind up like them?
See the thread: http://piggington.com/harveston_down_the_drainWait until next January and see where the prices are and how things are trending before you throw your money down the toilet and are stuck with a depreciating asset. I’m in the camp that believes the bottom won’t really hit until around 2012 but even if I’m wrong and it comes earlier to Temecula, prices are definitely NOT going to shoot back up overnight, nor will there be a lack of inventory to choose from for years. Time is on the side of the buyers…….IN SPADES! Rent, relax and take your time to see where all of this is headed.
ParticipantPrices are nowhere near the bottom yet in Temecula.
There was a poster on here several days ago who had posted last year that he was being pressured by his wife to buy in Temecula. Many (and I mean, MANY) of us told him NOT to do it. He bought and now, he and his wife are living in 1900 sq ft and a he can buy a 3200 sq ft home for less money. Do you want to wind up like them?
See the thread: http://piggington.com/harveston_down_the_drainWait until next January and see where the prices are and how things are trending before you throw your money down the toilet and are stuck with a depreciating asset. I’m in the camp that believes the bottom won’t really hit until around 2012 but even if I’m wrong and it comes earlier to Temecula, prices are definitely NOT going to shoot back up overnight, nor will there be a lack of inventory to choose from for years. Time is on the side of the buyers…….IN SPADES! Rent, relax and take your time to see where all of this is headed.
ParticipantPrices are nowhere near the bottom yet in Temecula.
There was a poster on here several days ago who had posted last year that he was being pressured by his wife to buy in Temecula. Many (and I mean, MANY) of us told him NOT to do it. He bought and now, he and his wife are living in 1900 sq ft and a he can buy a 3200 sq ft home for less money. Do you want to wind up like them?
See the thread: http://piggington.com/harveston_down_the_drainWait until next January and see where the prices are and how things are trending before you throw your money down the toilet and are stuck with a depreciating asset. I’m in the camp that believes the bottom won’t really hit until around 2012 but even if I’m wrong and it comes earlier to Temecula, prices are definitely NOT going to shoot back up overnight, nor will there be a lack of inventory to choose from for years. Time is on the side of the buyers…….IN SPADES! Rent, relax and take your time to see where all of this is headed.
ParticipantPrices are nowhere near the bottom yet in Temecula.
There was a poster on here several days ago who had posted last year that he was being pressured by his wife to buy in Temecula. Many (and I mean, MANY) of us told him NOT to do it. He bought and now, he and his wife are living in 1900 sq ft and a he can buy a 3200 sq ft home for less money. Do you want to wind up like them?
See the thread: http://piggington.com/harveston_down_the_drainWait until next January and see where the prices are and how things are trending before you throw your money down the toilet and are stuck with a depreciating asset. I’m in the camp that believes the bottom won’t really hit until around 2012 but even if I’m wrong and it comes earlier to Temecula, prices are definitely NOT going to shoot back up overnight, nor will there be a lack of inventory to choose from for years. Time is on the side of the buyers…….IN SPADES! Rent, relax and take your time to see where all of this is headed.
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