Forum Replies Created
-
AuthorPosts
-
jpinpb
Participantdjc – PB is not LJ. LJ is sterile. No homeless. No college kids partying and trashing the place. LJ is a status city. PB does have older people living there. These are some of the old houses being sold that have not been upgraded for 50 years. Obviously family selling them.
Some of these houses have been purchased by investors. How do you suppose the investors purchased them? Would they not do the 5yr I/0 ARMs? Won’t those be resetting? I’m more amazed that higher priced places are still selling now.
I would think PB would eventually see price declines. PB is not in a vacuum. It is not a seperate economy from the US or the world. How can it not be affected evenutally? I’ve seen prices of median homes in PB more than double from 2000 to 2008. Is that normal appreciation? While I don’t expect to see a 50% or 40% drop, I was still thinking there will be price declines.
I also thought that the weak fall first. Condos are declining. Won’t they be a drag on the SFH later?
And I understand that PB is attractive for investment rentals, but wouldn’t the numbers have to add up and make sense as a rental, if not a profitable rental, at least breaking even? Some of these places seem to be taking a loss. That’s why I was perplexed by the high-priced sales.
jpinpb
Participantdjc – PB is not LJ. LJ is sterile. No homeless. No college kids partying and trashing the place. LJ is a status city. PB does have older people living there. These are some of the old houses being sold that have not been upgraded for 50 years. Obviously family selling them.
Some of these houses have been purchased by investors. How do you suppose the investors purchased them? Would they not do the 5yr I/0 ARMs? Won’t those be resetting? I’m more amazed that higher priced places are still selling now.
I would think PB would eventually see price declines. PB is not in a vacuum. It is not a seperate economy from the US or the world. How can it not be affected evenutally? I’ve seen prices of median homes in PB more than double from 2000 to 2008. Is that normal appreciation? While I don’t expect to see a 50% or 40% drop, I was still thinking there will be price declines.
I also thought that the weak fall first. Condos are declining. Won’t they be a drag on the SFH later?
And I understand that PB is attractive for investment rentals, but wouldn’t the numbers have to add up and make sense as a rental, if not a profitable rental, at least breaking even? Some of these places seem to be taking a loss. That’s why I was perplexed by the high-priced sales.
jpinpb
Participantdjc – PB is not LJ. LJ is sterile. No homeless. No college kids partying and trashing the place. LJ is a status city. PB does have older people living there. These are some of the old houses being sold that have not been upgraded for 50 years. Obviously family selling them.
Some of these houses have been purchased by investors. How do you suppose the investors purchased them? Would they not do the 5yr I/0 ARMs? Won’t those be resetting? I’m more amazed that higher priced places are still selling now.
I would think PB would eventually see price declines. PB is not in a vacuum. It is not a seperate economy from the US or the world. How can it not be affected evenutally? I’ve seen prices of median homes in PB more than double from 2000 to 2008. Is that normal appreciation? While I don’t expect to see a 50% or 40% drop, I was still thinking there will be price declines.
I also thought that the weak fall first. Condos are declining. Won’t they be a drag on the SFH later?
And I understand that PB is attractive for investment rentals, but wouldn’t the numbers have to add up and make sense as a rental, if not a profitable rental, at least breaking even? Some of these places seem to be taking a loss. That’s why I was perplexed by the high-priced sales.
jpinpb
Participantdjc – PB is not LJ. LJ is sterile. No homeless. No college kids partying and trashing the place. LJ is a status city. PB does have older people living there. These are some of the old houses being sold that have not been upgraded for 50 years. Obviously family selling them.
Some of these houses have been purchased by investors. How do you suppose the investors purchased them? Would they not do the 5yr I/0 ARMs? Won’t those be resetting? I’m more amazed that higher priced places are still selling now.
I would think PB would eventually see price declines. PB is not in a vacuum. It is not a seperate economy from the US or the world. How can it not be affected evenutally? I’ve seen prices of median homes in PB more than double from 2000 to 2008. Is that normal appreciation? While I don’t expect to see a 50% or 40% drop, I was still thinking there will be price declines.
I also thought that the weak fall first. Condos are declining. Won’t they be a drag on the SFH later?
And I understand that PB is attractive for investment rentals, but wouldn’t the numbers have to add up and make sense as a rental, if not a profitable rental, at least breaking even? Some of these places seem to be taking a loss. That’s why I was perplexed by the high-priced sales.
jpinpb
Participantdjc – PB is not LJ. LJ is sterile. No homeless. No college kids partying and trashing the place. LJ is a status city. PB does have older people living there. These are some of the old houses being sold that have not been upgraded for 50 years. Obviously family selling them.
Some of these houses have been purchased by investors. How do you suppose the investors purchased them? Would they not do the 5yr I/0 ARMs? Won’t those be resetting? I’m more amazed that higher priced places are still selling now.
I would think PB would eventually see price declines. PB is not in a vacuum. It is not a seperate economy from the US or the world. How can it not be affected evenutally? I’ve seen prices of median homes in PB more than double from 2000 to 2008. Is that normal appreciation? While I don’t expect to see a 50% or 40% drop, I was still thinking there will be price declines.
I also thought that the weak fall first. Condos are declining. Won’t they be a drag on the SFH later?
And I understand that PB is attractive for investment rentals, but wouldn’t the numbers have to add up and make sense as a rental, if not a profitable rental, at least breaking even? Some of these places seem to be taking a loss. That’s why I was perplexed by the high-priced sales.
jpinpb
ParticipantIt was raining free money during Bush’s reign, wasn’t it?
My latest favorite of his quotes:
He warned against more drastic steps by the government to intervene.
Speaking to the Economic Club of New York at a midtown Manhattan hotel, Mr. Bush said that the economy was now having “a tough time.”
At the same time, however, he compared the government’s reaction to driving through a “rough patch” of road.
“If you ever get stuck in a situation like that, you know it’s important not to overcorrect,” Mr. Bush said. “If you overcorrect, you end up in a ditch.”jpinpb
ParticipantIt was raining free money during Bush’s reign, wasn’t it?
My latest favorite of his quotes:
He warned against more drastic steps by the government to intervene.
Speaking to the Economic Club of New York at a midtown Manhattan hotel, Mr. Bush said that the economy was now having “a tough time.”
At the same time, however, he compared the government’s reaction to driving through a “rough patch” of road.
“If you ever get stuck in a situation like that, you know it’s important not to overcorrect,” Mr. Bush said. “If you overcorrect, you end up in a ditch.”jpinpb
ParticipantIt was raining free money during Bush’s reign, wasn’t it?
My latest favorite of his quotes:
He warned against more drastic steps by the government to intervene.
Speaking to the Economic Club of New York at a midtown Manhattan hotel, Mr. Bush said that the economy was now having “a tough time.”
At the same time, however, he compared the government’s reaction to driving through a “rough patch” of road.
“If you ever get stuck in a situation like that, you know it’s important not to overcorrect,” Mr. Bush said. “If you overcorrect, you end up in a ditch.”jpinpb
ParticipantIt was raining free money during Bush’s reign, wasn’t it?
My latest favorite of his quotes:
He warned against more drastic steps by the government to intervene.
Speaking to the Economic Club of New York at a midtown Manhattan hotel, Mr. Bush said that the economy was now having “a tough time.”
At the same time, however, he compared the government’s reaction to driving through a “rough patch” of road.
“If you ever get stuck in a situation like that, you know it’s important not to overcorrect,” Mr. Bush said. “If you overcorrect, you end up in a ditch.”jpinpb
ParticipantIt was raining free money during Bush’s reign, wasn’t it?
My latest favorite of his quotes:
He warned against more drastic steps by the government to intervene.
Speaking to the Economic Club of New York at a midtown Manhattan hotel, Mr. Bush said that the economy was now having “a tough time.”
At the same time, however, he compared the government’s reaction to driving through a “rough patch” of road.
“If you ever get stuck in a situation like that, you know it’s important not to overcorrect,” Mr. Bush said. “If you overcorrect, you end up in a ditch.”jpinpb
Participantmarion – Sometimes I’m rational and calm about the market and take it in stride. But I admit I have my moments when I see some sales that I wouldn’t expect to happen, I get emotional. Can’t let it get the best of me. Just throws me for a loop.
deadzone – I’ve been trying to learn by reading this board and other links on here. I’ve been watching the market for several years. Although there’s not major development in PB like, say, downtown or 4$ or Chula Vista, there are a lot of Amstrong townhomes and alike thrown up. The little shacks get bought up for 800k, pushing the price up for regular homes. Then the guy mows the shack down and throws 4 townhomes up in its place for 650-700k a piece.
Also, there’s been a lot of apartment/condo conversions as well. You told me about the story of your neighbor and you seem convinced it won’t sell at the high price they are asking. What if it did? That’s the kind of crazy sales I’m seeing in PB.
Makes me question whether I’m the one in denial. I see places on the market a long time. I see some reductions, but ever so slight. I don’t see it to 2004 levels yet on houses, or even townhomes, at least not in PB.But I appreciate everyone’s feedback. I know it will take longer for the coast. Just have to be more patient and calm. Thanks all for letting me go on about this and thanks for your patience w/my anxieties.
jpinpb
Participantmarion – Sometimes I’m rational and calm about the market and take it in stride. But I admit I have my moments when I see some sales that I wouldn’t expect to happen, I get emotional. Can’t let it get the best of me. Just throws me for a loop.
deadzone – I’ve been trying to learn by reading this board and other links on here. I’ve been watching the market for several years. Although there’s not major development in PB like, say, downtown or 4$ or Chula Vista, there are a lot of Amstrong townhomes and alike thrown up. The little shacks get bought up for 800k, pushing the price up for regular homes. Then the guy mows the shack down and throws 4 townhomes up in its place for 650-700k a piece.
Also, there’s been a lot of apartment/condo conversions as well. You told me about the story of your neighbor and you seem convinced it won’t sell at the high price they are asking. What if it did? That’s the kind of crazy sales I’m seeing in PB.
Makes me question whether I’m the one in denial. I see places on the market a long time. I see some reductions, but ever so slight. I don’t see it to 2004 levels yet on houses, or even townhomes, at least not in PB.But I appreciate everyone’s feedback. I know it will take longer for the coast. Just have to be more patient and calm. Thanks all for letting me go on about this and thanks for your patience w/my anxieties.
jpinpb
Participantmarion – Sometimes I’m rational and calm about the market and take it in stride. But I admit I have my moments when I see some sales that I wouldn’t expect to happen, I get emotional. Can’t let it get the best of me. Just throws me for a loop.
deadzone – I’ve been trying to learn by reading this board and other links on here. I’ve been watching the market for several years. Although there’s not major development in PB like, say, downtown or 4$ or Chula Vista, there are a lot of Amstrong townhomes and alike thrown up. The little shacks get bought up for 800k, pushing the price up for regular homes. Then the guy mows the shack down and throws 4 townhomes up in its place for 650-700k a piece.
Also, there’s been a lot of apartment/condo conversions as well. You told me about the story of your neighbor and you seem convinced it won’t sell at the high price they are asking. What if it did? That’s the kind of crazy sales I’m seeing in PB.
Makes me question whether I’m the one in denial. I see places on the market a long time. I see some reductions, but ever so slight. I don’t see it to 2004 levels yet on houses, or even townhomes, at least not in PB.But I appreciate everyone’s feedback. I know it will take longer for the coast. Just have to be more patient and calm. Thanks all for letting me go on about this and thanks for your patience w/my anxieties.
jpinpb
Participantmarion – Sometimes I’m rational and calm about the market and take it in stride. But I admit I have my moments when I see some sales that I wouldn’t expect to happen, I get emotional. Can’t let it get the best of me. Just throws me for a loop.
deadzone – I’ve been trying to learn by reading this board and other links on here. I’ve been watching the market for several years. Although there’s not major development in PB like, say, downtown or 4$ or Chula Vista, there are a lot of Amstrong townhomes and alike thrown up. The little shacks get bought up for 800k, pushing the price up for regular homes. Then the guy mows the shack down and throws 4 townhomes up in its place for 650-700k a piece.
Also, there’s been a lot of apartment/condo conversions as well. You told me about the story of your neighbor and you seem convinced it won’t sell at the high price they are asking. What if it did? That’s the kind of crazy sales I’m seeing in PB.
Makes me question whether I’m the one in denial. I see places on the market a long time. I see some reductions, but ever so slight. I don’t see it to 2004 levels yet on houses, or even townhomes, at least not in PB.But I appreciate everyone’s feedback. I know it will take longer for the coast. Just have to be more patient and calm. Thanks all for letting me go on about this and thanks for your patience w/my anxieties.
-
AuthorPosts
