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April 22, 2008 at 10:41 AM in reply to: Existing home sales decline in March as housing slump continues #192318April 22, 2008 at 10:41 AM in reply to: Existing home sales decline in March as housing slump continues #192347
JWM in SD
Participant“I highly doubt our region has 15,000 buyers who are ready willing and able to pull the trigger in the next 6 months.”
But Bugs, what about all of those rich buyers that sdrealtor / SDRealtor / Rustico keep talking about this month who all have 20% down in cash from some “unknown” sources? Surely there are enough of “them” to ignite a V bottom recovery right??? Right???? Yeah, right.
Sarcasm Off.
April 22, 2008 at 10:41 AM in reply to: Existing home sales decline in March as housing slump continues #192374Participant“I highly doubt our region has 15,000 buyers who are ready willing and able to pull the trigger in the next 6 months.”
But Bugs, what about all of those rich buyers that sdrealtor / SDRealtor / Rustico keep talking about this month who all have 20% down in cash from some “unknown” sources? Surely there are enough of “them” to ignite a V bottom recovery right??? Right???? Yeah, right.
Sarcasm Off.
April 22, 2008 at 10:41 AM in reply to: Existing home sales decline in March as housing slump continues #192392Participant“I highly doubt our region has 15,000 buyers who are ready willing and able to pull the trigger in the next 6 months.”
But Bugs, what about all of those rich buyers that sdrealtor / SDRealtor / Rustico keep talking about this month who all have 20% down in cash from some “unknown” sources? Surely there are enough of “them” to ignite a V bottom recovery right??? Right???? Yeah, right.
Sarcasm Off.
April 22, 2008 at 10:41 AM in reply to: Existing home sales decline in March as housing slump continues #192435Participant“I highly doubt our region has 15,000 buyers who are ready willing and able to pull the trigger in the next 6 months.”
But Bugs, what about all of those rich buyers that sdrealtor / SDRealtor / Rustico keep talking about this month who all have 20% down in cash from some “unknown” sources? Surely there are enough of “them” to ignite a V bottom recovery right??? Right???? Yeah, right.
Sarcasm Off.
April 21, 2008 at 4:37 PM in reply to: Interest Rate Time Bomb???? When will they have to rise? #191789Participant“Therefore, if I can get 1996 prices for a home here along with low rates, then that is the ideal situation-as it would be for anyone.”
The implications are that the prices are going to go even lower than they currently are. I know, it’s even hard for me to believe that, but looking at the big picture, it is looking more likely than not.
Marion, I understand what you are saying and having seen what is happeing in Temecula / Murrieta upclose and personal a couple of weeks ago (saw some very nice properties for sale with the nicest one with a huge foreclosure auction sign in the window…corner lot too), I can understand how tempting it is. It is the one area that if you have a steady job with enough income to support it and don’t really plan on moving anywhere for a long time, you could justify the purchase. The key is having a stable income in that area and that is going to be bigger assumption than most think it is in the coming years.
April 21, 2008 at 4:37 PM in reply to: Interest Rate Time Bomb???? When will they have to rise? #191814Participant“Therefore, if I can get 1996 prices for a home here along with low rates, then that is the ideal situation-as it would be for anyone.”
The implications are that the prices are going to go even lower than they currently are. I know, it’s even hard for me to believe that, but looking at the big picture, it is looking more likely than not.
Marion, I understand what you are saying and having seen what is happeing in Temecula / Murrieta upclose and personal a couple of weeks ago (saw some very nice properties for sale with the nicest one with a huge foreclosure auction sign in the window…corner lot too), I can understand how tempting it is. It is the one area that if you have a steady job with enough income to support it and don’t really plan on moving anywhere for a long time, you could justify the purchase. The key is having a stable income in that area and that is going to be bigger assumption than most think it is in the coming years.
April 21, 2008 at 4:37 PM in reply to: Interest Rate Time Bomb???? When will they have to rise? #191843Participant“Therefore, if I can get 1996 prices for a home here along with low rates, then that is the ideal situation-as it would be for anyone.”
The implications are that the prices are going to go even lower than they currently are. I know, it’s even hard for me to believe that, but looking at the big picture, it is looking more likely than not.
Marion, I understand what you are saying and having seen what is happeing in Temecula / Murrieta upclose and personal a couple of weeks ago (saw some very nice properties for sale with the nicest one with a huge foreclosure auction sign in the window…corner lot too), I can understand how tempting it is. It is the one area that if you have a steady job with enough income to support it and don’t really plan on moving anywhere for a long time, you could justify the purchase. The key is having a stable income in that area and that is going to be bigger assumption than most think it is in the coming years.
April 21, 2008 at 4:37 PM in reply to: Interest Rate Time Bomb???? When will they have to rise? #191862Participant“Therefore, if I can get 1996 prices for a home here along with low rates, then that is the ideal situation-as it would be for anyone.”
The implications are that the prices are going to go even lower than they currently are. I know, it’s even hard for me to believe that, but looking at the big picture, it is looking more likely than not.
Marion, I understand what you are saying and having seen what is happeing in Temecula / Murrieta upclose and personal a couple of weeks ago (saw some very nice properties for sale with the nicest one with a huge foreclosure auction sign in the window…corner lot too), I can understand how tempting it is. It is the one area that if you have a steady job with enough income to support it and don’t really plan on moving anywhere for a long time, you could justify the purchase. The key is having a stable income in that area and that is going to be bigger assumption than most think it is in the coming years.
April 21, 2008 at 4:37 PM in reply to: Interest Rate Time Bomb???? When will they have to rise? #191906Participant“Therefore, if I can get 1996 prices for a home here along with low rates, then that is the ideal situation-as it would be for anyone.”
The implications are that the prices are going to go even lower than they currently are. I know, it’s even hard for me to believe that, but looking at the big picture, it is looking more likely than not.
Marion, I understand what you are saying and having seen what is happeing in Temecula / Murrieta upclose and personal a couple of weeks ago (saw some very nice properties for sale with the nicest one with a huge foreclosure auction sign in the window…corner lot too), I can understand how tempting it is. It is the one area that if you have a steady job with enough income to support it and don’t really plan on moving anywhere for a long time, you could justify the purchase. The key is having a stable income in that area and that is going to be bigger assumption than most think it is in the coming years.
April 21, 2008 at 10:44 AM in reply to: Interest Rate Time Bomb???? When will they have to rise? #191413Participant“…but property tax will be what the last owner paid if that was higher, until you get them to reassessed. So the property tax argument is moot.”
Well, that is a valid point. However, if you think about that carefully, it would result in more polarization of the buyers. It would seem to me that that would be a major detterent to buying even in a favorable market since it would increase cost of ownership so much that I can’t believe that there wouldn’t be a major incentive to get the property re-assessed…otherwise selling it could be a problem if the property in question is 25 to 50% less than its last assessed value.
Maybe I’m just too binary minded 😉
April 21, 2008 at 10:44 AM in reply to: Interest Rate Time Bomb???? When will they have to rise? #191438Participant“…but property tax will be what the last owner paid if that was higher, until you get them to reassessed. So the property tax argument is moot.”
Well, that is a valid point. However, if you think about that carefully, it would result in more polarization of the buyers. It would seem to me that that would be a major detterent to buying even in a favorable market since it would increase cost of ownership so much that I can’t believe that there wouldn’t be a major incentive to get the property re-assessed…otherwise selling it could be a problem if the property in question is 25 to 50% less than its last assessed value.
Maybe I’m just too binary minded 😉
April 21, 2008 at 10:44 AM in reply to: Interest Rate Time Bomb???? When will they have to rise? #191469Participant“…but property tax will be what the last owner paid if that was higher, until you get them to reassessed. So the property tax argument is moot.”
Well, that is a valid point. However, if you think about that carefully, it would result in more polarization of the buyers. It would seem to me that that would be a major detterent to buying even in a favorable market since it would increase cost of ownership so much that I can’t believe that there wouldn’t be a major incentive to get the property re-assessed…otherwise selling it could be a problem if the property in question is 25 to 50% less than its last assessed value.
Maybe I’m just too binary minded 😉
April 21, 2008 at 10:44 AM in reply to: Interest Rate Time Bomb???? When will they have to rise? #191487Participant“…but property tax will be what the last owner paid if that was higher, until you get them to reassessed. So the property tax argument is moot.”
Well, that is a valid point. However, if you think about that carefully, it would result in more polarization of the buyers. It would seem to me that that would be a major detterent to buying even in a favorable market since it would increase cost of ownership so much that I can’t believe that there wouldn’t be a major incentive to get the property re-assessed…otherwise selling it could be a problem if the property in question is 25 to 50% less than its last assessed value.
Maybe I’m just too binary minded 😉
April 21, 2008 at 10:44 AM in reply to: Interest Rate Time Bomb???? When will they have to rise? #191530Participant“…but property tax will be what the last owner paid if that was higher, until you get them to reassessed. So the property tax argument is moot.”
Well, that is a valid point. However, if you think about that carefully, it would result in more polarization of the buyers. It would seem to me that that would be a major detterent to buying even in a favorable market since it would increase cost of ownership so much that I can’t believe that there wouldn’t be a major incentive to get the property re-assessed…otherwise selling it could be a problem if the property in question is 25 to 50% less than its last assessed value.
Maybe I’m just too binary minded 😉
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