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(former)FormerSanDiegan
ParticipantI think the root of this problem is that the RE downturn is playing out slowly and methodically and is getting boring. The Mainstream media is all over the story and there is little intrigue as to when San Diego Real estate will head downward (since it has been happening for 20 months already).
Nobody wants to argue (I mean, have active discourse) anymore over what has become obvious, so we find other things to discuss.ParticipantI think you are right jg. I don’t think I would wager a beer that this quarter’s GDP will be above 2.
Also, I think the estimates in the range of 2.8 -3.8% for the year are in fantasy land. 1Q’07 was teetering close to zero. We will need a roaring second half to get in the 3+ % range. Don’t see it happening.
ParticipantI think you are right jg. I don’t think I would wager a beer that this quarter’s GDP will be above 2.
Also, I think the estimates in the range of 2.8 -3.8% for the year are in fantasy land. 1Q’07 was teetering close to zero. We will need a roaring second half to get in the 3+ % range. Don’t see it happening.
ParticipantIt’s really hard to give blanket advice on how to get the best price. It depends on the location and condition of the property, the competition in the neighborhood, the motivation of the owner, …
That said, you can offer as low as you want. The worst that can happen is that the offer gets accepted, and you’ll actually have to buy the house 🙂
ParticipantIt’s really hard to give blanket advice on how to get the best price. It depends on the location and condition of the property, the competition in the neighborhood, the motivation of the owner, …
That said, you can offer as low as you want. The worst that can happen is that the offer gets accepted, and you’ll actually have to buy the house 🙂
ParticipantWe have seen plenty of these anecdotal posts to the down-side on this board. A few examples to the upside when we know the market is down about 7-10% will simply underscore the fact that small samples do not a market make.
People read way too much into anecdotes and small sample size data. Case-Shiller has San Diego down 7% from the peak, as of April (the C-S lags a bit). Single samples or even zip-code specific numbers are way too noisy.
ParticipantWe have seen plenty of these anecdotal posts to the down-side on this board. A few examples to the upside when we know the market is down about 7-10% will simply underscore the fact that small samples do not a market make.
People read way too much into anecdotes and small sample size data. Case-Shiller has San Diego down 7% from the peak, as of April (the C-S lags a bit). Single samples or even zip-code specific numbers are way too noisy.
Participantjg –
I know, I know … just found it too ironic.
I’m a EE.Participantjg –
I know, I know … just found it too ironic.
I’m a EE.ParticipantYou forgot the part about well educated people having extreme difficulty finding a decent job in SD during 1995.
Yes, those were days……………
That’s funny. I have a PhD and relocated to San Diego in 1995 for a job.
ParticipantYou forgot the part about well educated people having extreme difficulty finding a decent job in SD during 1995.
Yes, those were days……………
That’s funny. I have a PhD and relocated to San Diego in 1995 for a job.
ParticipantBased on Case-Shiller index SD is down 7% from the peak and two years of inflation, San Diego is 13% off it’s peak. Nearly 1/4 to 1/3 of the bubble has already been deflated.
The OC and greater LA area got off to a later start and might be 9-12 months behind.
ParticipantBased on Case-Shiller index SD is down 7% from the peak and two years of inflation, San Diego is 13% off it’s peak. Nearly 1/4 to 1/3 of the bubble has already been deflated.
The OC and greater LA area got off to a later start and might be 9-12 months behind.
ParticipantI am not a native. I moved to San Diego from the midwest in 1995. All the natives and long-time SD folks told me that real estate sucked then. I ran the numbers and decided to buy a house in Clairemont for 160K. My neighbor said I overpaid by 5K, but said thanks for raising the comps in the neighborhood.
10 years and two houses later I took my 350K of equity and reluctantly moved away (job opportunity).
Still own (well I own about 50% of the house, the bank owns the other half) a coastal rental property that I hope will someday allow me to come back and semi-retire in SD.
Although I have only spent 25% of my life there (so far) I consider San Diego my hometown.
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