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jstoesz
Participantthe sea of demand was tongue and cheek…maybe I should have said a “sea of cheap, dagger catching, low ballers.” Can we all agree on this sea. Heck I probably even fall into this category on my more impatient days.
I think people are moaning and groaning, because they do not want to wait. They are willing, but frustrated that we can not just get this over with like some kind of monetary band-aid to be ripped off. On top of that the uncertainty is brutal, I think prices will go down, but WHEN will I be able to afford to live like my peer group and not be saddled with enormous debt (unlike my peer group).
I think you are right about all 4 points, and I would like to add one more. People like to feel like they are getting a good deal, regardless of whether they are or not. The short term, I got a good deal, feeling can potentially outweigh the, prices are still going to drop, fear.
ParticipantJust some food for thought.
This conversation has centered around the vast sea of pent up demand that sdr and others have told ad nauseum. I would like to propose a rationale for why this demand has little effect on driving prices up, rather they drive it down.
You have all mentioned how there is this large pool of buyers waiting to buy, with the added caveat, “well priced homes.” You are essentially stating that people are not going to pay fair market price based on comparables. They want less than the FMP.
So I pose a question, what happens when some of those homes are bought at less than FMP? Is the sea of demand satiated at this new comp price, or are they going to be screaming for “well priced homes.”
I have a strong feeling the latter is true. There are always people searching and willing to pay for a “deal.” Look at the dagger catchers of 2007-8. But when enough people get a deal, it is no longer such and a new deal value must be struck.
Note, this may not be true in every neighborhood in SD…so please do not give me countless examples of bidding wars on homes.
ParticipantJust some food for thought.
This conversation has centered around the vast sea of pent up demand that sdr and others have told ad nauseum. I would like to propose a rationale for why this demand has little effect on driving prices up, rather they drive it down.
You have all mentioned how there is this large pool of buyers waiting to buy, with the added caveat, “well priced homes.” You are essentially stating that people are not going to pay fair market price based on comparables. They want less than the FMP.
So I pose a question, what happens when some of those homes are bought at less than FMP? Is the sea of demand satiated at this new comp price, or are they going to be screaming for “well priced homes.”
I have a strong feeling the latter is true. There are always people searching and willing to pay for a “deal.” Look at the dagger catchers of 2007-8. But when enough people get a deal, it is no longer such and a new deal value must be struck.
Note, this may not be true in every neighborhood in SD…so please do not give me countless examples of bidding wars on homes.
ParticipantJust some food for thought.
This conversation has centered around the vast sea of pent up demand that sdr and others have told ad nauseum. I would like to propose a rationale for why this demand has little effect on driving prices up, rather they drive it down.
You have all mentioned how there is this large pool of buyers waiting to buy, with the added caveat, “well priced homes.” You are essentially stating that people are not going to pay fair market price based on comparables. They want less than the FMP.
So I pose a question, what happens when some of those homes are bought at less than FMP? Is the sea of demand satiated at this new comp price, or are they going to be screaming for “well priced homes.”
I have a strong feeling the latter is true. There are always people searching and willing to pay for a “deal.” Look at the dagger catchers of 2007-8. But when enough people get a deal, it is no longer such and a new deal value must be struck.
Note, this may not be true in every neighborhood in SD…so please do not give me countless examples of bidding wars on homes.
ParticipantJust some food for thought.
This conversation has centered around the vast sea of pent up demand that sdr and others have told ad nauseum. I would like to propose a rationale for why this demand has little effect on driving prices up, rather they drive it down.
You have all mentioned how there is this large pool of buyers waiting to buy, with the added caveat, “well priced homes.” You are essentially stating that people are not going to pay fair market price based on comparables. They want less than the FMP.
So I pose a question, what happens when some of those homes are bought at less than FMP? Is the sea of demand satiated at this new comp price, or are they going to be screaming for “well priced homes.”
I have a strong feeling the latter is true. There are always people searching and willing to pay for a “deal.” Look at the dagger catchers of 2007-8. But when enough people get a deal, it is no longer such and a new deal value must be struck.
Note, this may not be true in every neighborhood in SD…so please do not give me countless examples of bidding wars on homes.
ParticipantJust some food for thought.
This conversation has centered around the vast sea of pent up demand that sdr and others have told ad nauseum. I would like to propose a rationale for why this demand has little effect on driving prices up, rather they drive it down.
You have all mentioned how there is this large pool of buyers waiting to buy, with the added caveat, “well priced homes.” You are essentially stating that people are not going to pay fair market price based on comparables. They want less than the FMP.
So I pose a question, what happens when some of those homes are bought at less than FMP? Is the sea of demand satiated at this new comp price, or are they going to be screaming for “well priced homes.”
I have a strong feeling the latter is true. There are always people searching and willing to pay for a “deal.” Look at the dagger catchers of 2007-8. But when enough people get a deal, it is no longer such and a new deal value must be struck.
Note, this may not be true in every neighborhood in SD…so please do not give me countless examples of bidding wars on homes.
Participant[quote=sdrealtor]Your examples are usually cherry picking because you seek out things that confirm your viewpoint so that is what you find. I watch everything and have a sense of what is going on overall that you dont have the seat for.
[/quote]Can we get him an award? And enshrine his mind when he dies?
To paraphrase “just remember people of low intelligence, I WATCH EVERYTHING”
I like lurking, but I had to come out for that…I nearly threw up on myself!
Participant[quote=sdrealtor]Your examples are usually cherry picking because you seek out things that confirm your viewpoint so that is what you find. I watch everything and have a sense of what is going on overall that you dont have the seat for.
[/quote]Can we get him an award? And enshrine his mind when he dies?
To paraphrase “just remember people of low intelligence, I WATCH EVERYTHING”
I like lurking, but I had to come out for that…I nearly threw up on myself!
Participant[quote=sdrealtor]Your examples are usually cherry picking because you seek out things that confirm your viewpoint so that is what you find. I watch everything and have a sense of what is going on overall that you dont have the seat for.
[/quote]Can we get him an award? And enshrine his mind when he dies?
To paraphrase “just remember people of low intelligence, I WATCH EVERYTHING”
I like lurking, but I had to come out for that…I nearly threw up on myself!
Participant[quote=sdrealtor]Your examples are usually cherry picking because you seek out things that confirm your viewpoint so that is what you find. I watch everything and have a sense of what is going on overall that you dont have the seat for.
[/quote]Can we get him an award? And enshrine his mind when he dies?
To paraphrase “just remember people of low intelligence, I WATCH EVERYTHING”
I like lurking, but I had to come out for that…I nearly threw up on myself!
Participant[quote=sdrealtor]Your examples are usually cherry picking because you seek out things that confirm your viewpoint so that is what you find. I watch everything and have a sense of what is going on overall that you dont have the seat for.
[/quote]Can we get him an award? And enshrine his mind when he dies?
To paraphrase “just remember people of low intelligence, I WATCH EVERYTHING”
I like lurking, but I had to come out for that…I nearly threw up on myself!
Participantwell I never said yada yada yada…
To be honest I have been looking for a website to find well reasoned posts pointing to a rosy SD housing market, as I would love to be less skeptical. To date I have found nothing, aside from CAR (and I don’t think even Realtors trust that info anymore).
Participantwell I never said yada yada yada…
To be honest I have been looking for a website to find well reasoned posts pointing to a rosy SD housing market, as I would love to be less skeptical. To date I have found nothing, aside from CAR (and I don’t think even Realtors trust that info anymore).
Participantwell I never said yada yada yada…
To be honest I have been looking for a website to find well reasoned posts pointing to a rosy SD housing market, as I would love to be less skeptical. To date I have found nothing, aside from CAR (and I don’t think even Realtors trust that info anymore).
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