[Fearful]

The 1Q08 run rate for California foreclosures is three times the prior bubble – crash peak, in 1996.

[Fearful]

The 1Q08 run rate for California foreclosures is three times the prior bubble – crash peak, in 1996.

[Fearful]

The 1Q08 run rate for California foreclosures is three times the prior bubble – crash peak, in 1996.

[Fearful]

Well, I’m pretty sure I’m overpaying. I mentioned there are 5BR 2100 sf in the development; one was just listed for $3050.

Also, the floor plan is a little anomalous. A 4BR for $2850 is not bad; 1700 sf for that price is not good.

It’s easy to get as hung up on rental prices as with house prices, but rentals are nowhere near as big of a commitment.

[Fearful]

Well, I’m pretty sure I’m overpaying. I mentioned there are 5BR 2100 sf in the development; one was just listed for $3050.

Also, the floor plan is a little anomalous. A 4BR for $2850 is not bad; 1700 sf for that price is not good.

It’s easy to get as hung up on rental prices as with house prices, but rentals are nowhere near as big of a commitment.

[Fearful]

Well, I’m pretty sure I’m overpaying. I mentioned there are 5BR 2100 sf in the development; one was just listed for $3050.

Also, the floor plan is a little anomalous. A 4BR for $2850 is not bad; 1700 sf for that price is not good.

It’s easy to get as hung up on rental prices as with house prices, but rentals are nowhere near as big of a commitment.

[Fearful]

Well, I’m pretty sure I’m overpaying. I mentioned there are 5BR 2100 sf in the development; one was just listed for $3050.

Also, the floor plan is a little anomalous. A 4BR for $2850 is not bad; 1700 sf for that price is not good.

It’s easy to get as hung up on rental prices as with house prices, but rentals are nowhere near as big of a commitment.

[Fearful]

Well, I’m pretty sure I’m overpaying. I mentioned there are 5BR 2100 sf in the development; one was just listed for $3050.

Also, the floor plan is a little anomalous. A 4BR for $2850 is not bad; 1700 sf for that price is not good.

It’s easy to get as hung up on rental prices as with house prices, but rentals are nowhere near as big of a commitment.

[Fearful]

Thanks for the data.

I am struck by the lower LTVs on these sales. I wonder, is that characteristic of the high price point? Or is it the recent sales, with lenders reluctant to fund high LTVs now?

That confirms that, at least recently, 92130 valuations are supported by capital, as much as income.

An important question is whether that capital comes from prior house sales or otherwise.

I don’t think the recent sales are necessarily foreclosures waiting to happen, except to the extent that if house prices fall significantly from here, some of these buyers will go underwater and some of those will walk away on general principles.

[Fearful]

Thanks for the data.

I am struck by the lower LTVs on these sales. I wonder, is that characteristic of the high price point? Or is it the recent sales, with lenders reluctant to fund high LTVs now?

That confirms that, at least recently, 92130 valuations are supported by capital, as much as income.

An important question is whether that capital comes from prior house sales or otherwise.

I don’t think the recent sales are necessarily foreclosures waiting to happen, except to the extent that if house prices fall significantly from here, some of these buyers will go underwater and some of those will walk away on general principles.

[Fearful]

Thanks for the data.

I am struck by the lower LTVs on these sales. I wonder, is that characteristic of the high price point? Or is it the recent sales, with lenders reluctant to fund high LTVs now?

That confirms that, at least recently, 92130 valuations are supported by capital, as much as income.

An important question is whether that capital comes from prior house sales or otherwise.

I don’t think the recent sales are necessarily foreclosures waiting to happen, except to the extent that if house prices fall significantly from here, some of these buyers will go underwater and some of those will walk away on general principles.

[Fearful]

Thanks for the data.

I am struck by the lower LTVs on these sales. I wonder, is that characteristic of the high price point? Or is it the recent sales, with lenders reluctant to fund high LTVs now?

That confirms that, at least recently, 92130 valuations are supported by capital, as much as income.

An important question is whether that capital comes from prior house sales or otherwise.

I don’t think the recent sales are necessarily foreclosures waiting to happen, except to the extent that if house prices fall significantly from here, some of these buyers will go underwater and some of those will walk away on general principles.

[Fearful]

Thanks for the data.

I am struck by the lower LTVs on these sales. I wonder, is that characteristic of the high price point? Or is it the recent sales, with lenders reluctant to fund high LTVs now?

That confirms that, at least recently, 92130 valuations are supported by capital, as much as income.

An important question is whether that capital comes from prior house sales or otherwise.

I don’t think the recent sales are necessarily foreclosures waiting to happen, except to the extent that if house prices fall significantly from here, some of these buyers will go underwater and some of those will walk away on general principles.

[Fearful]

I’m in Torrey Hills; it’s an unusual house in that it is 4BR but just 1700 sf. The development, Sausalito, has 4BR / 1700sf, 4BR / 1900 SF, and 5BR / 2100 SF. Location is perfect for the kids, as it is right across the street from the elementary school, but the floor plan is annoying and the interior quality is sad – all the builder minimum stuff, real crap. $2850.

[Fearful]

I’m in Torrey Hills; it’s an unusual house in that it is 4BR but just 1700 sf. The development, Sausalito, has 4BR / 1700sf, 4BR / 1900 SF, and 5BR / 2100 SF. Location is perfect for the kids, as it is right across the street from the elementary school, but the floor plan is annoying and the interior quality is sad – all the builder minimum stuff, real crap. $2850.

[Author]

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