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gn
ParticipantWhile I agree that Temecula is going to be hit hard, in this specific case, it’s different.
According to the description, it’s a short sale. In a short sale, the asking price is often meaningless. That is, it’s the lender who decides whether to accept the offer. Often time, the seller intentionally set a low asking price hoping to generate a bidding war.
The fact that the house is still on the MLS could mean:
1. There were offer(s), but not accepted by the lender. Or,
2. There were no offer.May 18, 2007 at 11:23 PM in reply to: 4S ranch Silhouette starts to sell model homes! will it stop selling future houses?? #53786ParticipantEven in a sellers market, it’s very common for builders to sell the models 6 months (or more) before they’re finished with the project.
In today’s strong buyers market, builders have another reason to sell the models early: today’s price is very likely to be higher than next year’s price.
I don’t think the builders will stop building in 4S. The development of 4S is 2/3 finished. And since it’s a master-planned community, they’ll finish building everything out.
May 18, 2007 at 11:23 PM in reply to: 4S ranch Silhouette starts to sell model homes! will it stop selling future houses?? #53797ParticipantEven in a sellers market, it’s very common for builders to sell the models 6 months (or more) before they’re finished with the project.
In today’s strong buyers market, builders have another reason to sell the models early: today’s price is very likely to be higher than next year’s price.
I don’t think the builders will stop building in 4S. The development of 4S is 2/3 finished. And since it’s a master-planned community, they’ll finish building everything out.
Participant“We are going to wait at least one year …”
How about waiting at least 3 years ?
Due to recent condo constructions, there is currently a large condo surplus in SD county. Thousands of new condo units are being constructed in downtown will add more to the surplus.
This will help bring down condo/house prices in north county.
Participant“We are going to wait at least one year …”
How about waiting at least 3 years ?
Due to recent condo constructions, there is currently a large condo surplus in SD county. Thousands of new condo units are being constructed in downtown will add more to the surplus.
This will help bring down condo/house prices in north county.
ParticipantDavid Lereah is no fool. He must have realized that his job at the NAR has become increasingly difficult.
After all, one can only put so much positive spin on the bad news. And the bad news kept getting worse & worse.
ParticipantDavid Lereah is no fool. He must have realized that his job at the NAR has become increasingly difficult.
After all, one can only put so much positive spin on the bad news. And the bad news kept getting worse & worse.
Participant“I think that when all is said on done, we’ll find out that the upper-middle class gambled on housing and subprime/exotic loans even more so than the lower income folks. I would go so far as to say that the RE gambling ran across economic classes, in proportion to earnings”
I agree with this. I know several people who each own more than a handful of investment properties (all financed with interest-only loans). Even now, they are still in denial about the direction of home prices.
Typically, these investment properties have negative cash flow (even with the IO loans). So, it’s the upper-middle class folks who can afford the negative cash flow. They tend to be confident that, with their incomes, they can “ride it out”.
Before the mortgage payments go up, these folks can manage the negative cash flow w/o any problem. It’s when the payments start to “balloon” …
Participant“I think that when all is said on done, we’ll find out that the upper-middle class gambled on housing and subprime/exotic loans even more so than the lower income folks. I would go so far as to say that the RE gambling ran across economic classes, in proportion to earnings”
I agree with this. I know several people who each own more than a handful of investment properties (all financed with interest-only loans). Even now, they are still in denial about the direction of home prices.
Typically, these investment properties have negative cash flow (even with the IO loans). So, it’s the upper-middle class folks who can afford the negative cash flow. They tend to be confident that, with their incomes, they can “ride it out”.
Before the mortgage payments go up, these folks can manage the negative cash flow w/o any problem. It’s when the payments start to “balloon” …
Participant“Clearly sdrealtor is open to suggestions, but in the end if you personally don’t think the data will be useful, you can choose not to read/post in this thread, or start you own forum that you think is more relevant. ”
New_Renter,
To be fair, I have the right to express my opinion here. So, if you don’t like to read my opinion, maybe you can go somewhere else. 🙂
Participant“Clearly sdrealtor is open to suggestions, but in the end if you personally don’t think the data will be useful, you can choose not to read/post in this thread, or start you own forum that you think is more relevant. ”
New_Renter,
To be fair, I have the right to express my opinion here. So, if you don’t like to read my opinion, maybe you can go somewhere else. 🙂
ParticipantYou are right. I am also guilty of not being clear.
When I said “North County Coastal” I meant (incorrectly) the more upscale areas like La Jolla, Del Mar, Solana Beach, RSF …
ParticipantYou are right. I am also guilty of not being clear.
When I said “North County Coastal” I meant (incorrectly) the more upscale areas like La Jolla, Del Mar, Solana Beach, RSF …
May 16, 2007 at 4:01 PM in reply to: DR Horton Slashes prices $100k in Murrieta, Menifee, Wildomar and more in … #53066Participant“but there are so many variables at play…and i know so little about them…i jsut hear X from one person, Y rom another, and Z from the enxt person. and X, Y, and Z are all educatd sources”
It takes someone, call him W, who is more knowlegeable than X, Y, & Z to know whether X, Y, or Z is right. Or, if they are all wrong.
To you, X, Y, & Z may seem very knowlegeable. To W, it’s possible that they all know very little.
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