[Jazzman]

I’ve never subscribed to any of them, but look at ForeclosureRadar because they have free info in nice little graph form with simple explanations. Given the foreclosure mess you’d expect the data to be a little shaky.

[Jazzman]

I’ve just come back from an inspection, and found what an inspector will say to you in private is not always the same as when two brokers are hovering around, or what they write in their report, which is probably to cover their liability. It seems when pressed, they will give a nod and a wink. Buyer’s brokers are on the side of a sale happening, and may be quick to scoot over your hesitations, if you don’t express them strongly enough. Just my tuppence worth.

[Jazzman]

I don’t understand why this should be news, or why 2007 prices should be any kind of benchmark to aim for. Is the assumption that a return to prices that were artificially highly inflated is somehow symptomatic of a recovery? If it is, then is it any wonder we got into this fine mess. I am seriously starting to be believe I must be from a different planet.

[Jazzman]

[quote=pepsi][quote=sd_matt]I was listening Dennis Prager interview a doctor. To shorten what the doc said; You are more likely to lose your savings here in the USA and more likely to die from a major illness in the more socialized systems.

I asked a nurse practitioner if she agreed with that assessment and she said yes.

Any docs here in the house? Do you agree or disagree?

[/quote]

I would agree to this one:

You are likely to lose your saving (first) in USA , and to die (first) from a major illness in other system.[/quote]

I think that the quote was probably you are more likely to lose your savings THAN die from a major illness, THAN you would in a normal healthcare system. BTW what does “socialized” mean? According the to the principles of socialism, or behaving in a socially acceptable manner?

[Jazzman]

Good time to buy in 700k market ? No! Should you? That’s up to you and your own personal circumstances. Interest rates are very tempting, but values have not found their floor IMO. Maybe they never will, so the decision becomes one of conscience. However, you still make that decision against the background of high foreclosures, which jumped 30% in August swelling the already large months supply, poor economic growth which impacts the already high unemployment rate of 20% if you include PTs and LHs (lost hopers), savings (ergo down payments) impacted by a European sovereign debt crisis, and a when-not-if scenario iro a double dip recession. More to the point perhaps, many homes in this price range have corrected 20-30% which does not put them back to historical averages, and many will justifiably argue that makes them still over-priced. You may say prices are irrelevant as the monthly nut is what counts, but taxes would have you believe otherwise.

[Jazzman]

[quote=walterwhite]Did I tell you about this shirt I saw a hipstwr kn Portland wearing? It said “it’s going to get worse”. I sent my kid over to ask him where to get one.

Ibought one but it’s a little tight[/quote]
Well, if we are in for lean times, it should fit after a few weeks 🙂

[Jazzman]

I believe this is the Yes Men. See Bopal Dow Chemicals.

http://blogs.reuters.com/felix-salmon/2011/09/27/is-alessio-rastani-a-yes-man/

http://www.forbes.com/sites/emilylambert/2011/09/27/trader-or-prankster-we-called-alessio-rastani-and-asked/

[Jazzman]

Yep, thanks for the reminder. I even joined in that one which quickly went OT.

[Jazzman]

Social contract? Somebody read Hobbes at University. Actually, I think Obama made this point pretty well at the Brent Spence Bridge. They just have different styles and they’re both right of course, which makes the GOP look a little foolish. From the outside looking in, it’s like the US is made up of two distinctly different species.

[Jazzman]

Where is the best place to look for a contractor apart from recommendations?

[Jazzman]

I’ve found agents on trulia.com in the Q&A section. If you are clear about what you want, you’ll get some answers to these sorts of questions from brokers looking for business. Then follow your instincts based on the replies. You could also try redfin.com. They are very internet based and do no obligations home tours, as the agent is being paid anyway. They do expect you to do some of the leg work. Short list some areas, find an agent and come over for a field trip. Good luck.

[Jazzman]

Very mixed stories.

Del Mar had a surge in NODs in July that fell off in August. But notice the number of cancellations. There does seem to be an inverse relationship between NODs and cancellations.
http://www.foreclosureradar.com/california/san-diego-county/del-mar-foreclosures/listings

Encinitas had a four month run on NODs to Aug 2011, but cancellations remain consistent. Notice however, how pre-foreclosure inventory sky-rockets in June.
http://www.foreclosureradar.com/california/san-diego-county/encinitas-foreclosures/listings

Rancho Santa Fe NODs increase 100% from June 2011 and we see that same inverse relationship with cancellations, yet pre-foreclosure inventory remains static, which you’d expect I guess.
http://www.foreclosureradar.com/california/san-diego-county/rancho-santa-fe-foreclosures/listings

Temecula shares more in common with Encinitas than Del Mar.
http://www.foreclosureradar.com/california/riverside-county/temecula-foreclosures/listings

I don’t know how reliable the data to be, nor whether other explanations can be given for them??? One common denominator is the sharp increase in NODs

[Jazzman]

I don’t know what her politics are exactly, but she seems on the side of the do-gooders. Perhaps she hopes she can make a difference.

[Jazzman]

Just wish I could find more of them.

[Jazzman]

[quote=bearishgurl][quote=Jazzman]Bearishgirl, I am with you all the way on Prop 13. The SD/Charlotte example was just to illustrate a point, that measures of life style, geography, weather etc alone don’t determine home values. RE is the biggest industry in CA. If memory serves me, it is a whopping 17% of GDP. The mortgage/Wall Street fusion was purportedly born in Orange County. CA has one of the largest foreclosure rates in the country. I don’t think this is all coincidence, or that people are simply “prepared” to pay higher home prices. Life-style is sold here big time, and some might argue largely on the back of Hollywood glitz and glamor, so one is “stuck” with the high prices.[/quote]

Jazzman, I don’t think a “lifestyle of glitz and glamor” are what people are buying in SD County when they purchase RE. ANY area of the US is free to “sell” its “lifestyle” and many do. I think, plain and simple that the weather in SD county is more consistent year round and year over year and less prone to natural disasters (we’ve also been lucky in recent decades in this regard). This is a BIG sell. One doesn’t need to visit here long in the winter or during hurricane season to experience the difference because between SD and Charlotte. I also think the diverse housing stock, diverse kinds of people and proximity to the Pacific Ocean and Mexico are a big draw, as well.

Foreclosures and property distress is happening everywhere in the US with some locales affected far more than others. NINJA loans were likely available in all 50 states. [/quote]
Not sure you can entirely isolate SD from the rest of CA, where very similar conditions exist, or that you can boil it down to things like environmental factors such as weather. Moscow has miserable weather, but has very high prices. Arizona has a lot of sun, yet comparatively low prices. California is in the top five states with the highest foreclosures, but where home prices are over twice as much. Prices didn’t correct as much as Las Vegas due mainly to supply. Supply has a huge effect. Monaco is an extreme example of this. Incomes have another effect as can be seen in NY and London. Cheap credit is a major culprit as can be seen in the English speaking world.

Another factor in sticky high prices that I am personally experiencing is falling prices. That seems like a contradiction, but many of the homes I have been making offers on can’t accept FMV, whether they be REOs or normal sales, due to outstanding loan balances. More interesting is the reluctance of many brokers to make offers that reflect FMV. Most seem happier to make offers based on outstanding loan balances. My question to these owners is why should I bail you out? I could equally ask some buyers why are they willing to bail them out, which leads us get back to the bubble addiction hypothesis? So you see a dark cloud seems to be obscuring the sunshine theory.

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