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LA_Renter
Participant“Submitted by sdrealtor on February 19, 2007 – 3:29pm.
Short sales 1,363 up from 1328 (2.6%) from last week.
Total SD County Listings 15,717 up from 15,695 still relatively flat for the year.
Market continues to w relative strength. I thought I was begining to see inventory increase and then that rally fizzled. I just dont know when it will start piling on if at all.”Trend wise it looks identical to last year at this time. It will be interesting to see if the slowing economy alters this season and how.
I am in sales with a commodity type product that is directly tied to business activity in industrial, govt, energy and service sector so I have some anecdotal evidence regarding current business conditions. As of right now through mid Feb, sales are very soft with a handful of people hitting their number across the country verses this time last year when 70% of the sales force were at or above goal. My distributors tell me it is the small mom and pop type businesses especially in and around the LA basin that are basically disappearing. Capital Good manufacturers are getting hit with delayed orders and many have laid off employees or getting ready too. The service sector that we cater to are very cost sensitive right now and are cutting back or trading down. Energy is the exception, sales into that space are actually up over last year. I have been through a few recessions and this seems different, previous downturns I have experienced seemed like business hit a brick wall and was much more pronounced. This is more like a steady deterioration that seems ever so slightly gaining momentum.
Participant“Submitted by sdrealtor on February 19, 2007 – 3:29pm.
Short sales 1,363 up from 1328 (2.6%) from last week.
Total SD County Listings 15,717 up from 15,695 still relatively flat for the year.
Market continues to w relative strength. I thought I was begining to see inventory increase and then that rally fizzled. I just dont know when it will start piling on if at all.”Trend wise it looks identical to last year at this time. It will be interesting to see if the slowing economy alters this season and how.
I am in sales with a commodity type product that is directly tied to business activity in industrial, govt, energy and service sector so I have some anecdotal evidence regarding current business conditions. As of right now through mid Feb, sales are very soft with a handful of people hitting their number across the country verses this time last year when 70% of the sales force were at or above goal. My distributors tell me it is the small mom and pop type businesses especially in and around the LA basin that are basically disappearing. Capital Good manufacturers are getting hit with delayed orders and many have laid off employees or getting ready too. The service sector that we cater to are very cost sensitive right now and are cutting back or trading down. Energy is the exception, sales into that space are actually up over last year. I have been through a few recessions and this seems different, previous downturns I have experienced seemed like business hit a brick wall and was much more pronounced. This is more like a steady deterioration that seems ever so slightly gaining momentum.
Participant“Submitted by sdrealtor on February 19, 2007 – 3:29pm.
Short sales 1,363 up from 1328 (2.6%) from last week.
Total SD County Listings 15,717 up from 15,695 still relatively flat for the year.
Market continues to w relative strength. I thought I was begining to see inventory increase and then that rally fizzled. I just dont know when it will start piling on if at all.”Trend wise it looks identical to last year at this time. It will be interesting to see if the slowing economy alters this season and how.
I am in sales with a commodity type product that is directly tied to business activity in industrial, govt, energy and service sector so I have some anecdotal evidence regarding current business conditions. As of right now through mid Feb, sales are very soft with a handful of people hitting their number across the country verses this time last year when 70% of the sales force were at or above goal. My distributors tell me it is the small mom and pop type businesses especially in and around the LA basin that are basically disappearing. Capital Good manufacturers are getting hit with delayed orders and many have laid off employees or getting ready too. The service sector that we cater to are very cost sensitive right now and are cutting back or trading down. Energy is the exception, sales into that space are actually up over last year. I have been through a few recessions and this seems different, previous downturns I have experienced seemed like business hit a brick wall and was much more pronounced. This is more like a steady deterioration that seems ever so slightly gaining momentum.
Participant“Submitted by sdrealtor on February 19, 2007 – 3:29pm.
Short sales 1,363 up from 1328 (2.6%) from last week.
Total SD County Listings 15,717 up from 15,695 still relatively flat for the year.
Market continues to w relative strength. I thought I was begining to see inventory increase and then that rally fizzled. I just dont know when it will start piling on if at all.”Trend wise it looks identical to last year at this time. It will be interesting to see if the slowing economy alters this season and how.
I am in sales with a commodity type product that is directly tied to business activity in industrial, govt, energy and service sector so I have some anecdotal evidence regarding current business conditions. As of right now through mid Feb, sales are very soft with a handful of people hitting their number across the country verses this time last year when 70% of the sales force were at or above goal. My distributors tell me it is the small mom and pop type businesses especially in and around the LA basin that are basically disappearing. Capital Good manufacturers are getting hit with delayed orders and many have laid off employees or getting ready too. The service sector that we cater to are very cost sensitive right now and are cutting back or trading down. Energy is the exception, sales into that space are actually up over last year. I have been through a few recessions and this seems different, previous downturns I have experienced seemed like business hit a brick wall and was much more pronounced. This is more like a steady deterioration that seems ever so slightly gaining momentum.
Participant“Active inventory is at 126 which is lower than it ws at any point in time in 2007. This time last year it was 156. Pendings are at 32 which is also lower. This time last year it was at 52.”
Fewer people selling and fewer people buying. Fewer dollars being transacted. In this environment I also imagine fewer luxury cars are being purchased along with large flat screen TV’s, cosmetic surgery, etc. Thats the real story, people in the Carmel Valley’s of the world are hunkering down. These areas are the creme la creme of the American consumer. Carmel Valley’s biggest threat in 08 and 09 are the effects of a significant recession. We have not really truly experienced that up to this point in time.
Participant“Active inventory is at 126 which is lower than it ws at any point in time in 2007. This time last year it was 156. Pendings are at 32 which is also lower. This time last year it was at 52.”
Fewer people selling and fewer people buying. Fewer dollars being transacted. In this environment I also imagine fewer luxury cars are being purchased along with large flat screen TV’s, cosmetic surgery, etc. Thats the real story, people in the Carmel Valley’s of the world are hunkering down. These areas are the creme la creme of the American consumer. Carmel Valley’s biggest threat in 08 and 09 are the effects of a significant recession. We have not really truly experienced that up to this point in time.
Participant“Active inventory is at 126 which is lower than it ws at any point in time in 2007. This time last year it was 156. Pendings are at 32 which is also lower. This time last year it was at 52.”
Fewer people selling and fewer people buying. Fewer dollars being transacted. In this environment I also imagine fewer luxury cars are being purchased along with large flat screen TV’s, cosmetic surgery, etc. Thats the real story, people in the Carmel Valley’s of the world are hunkering down. These areas are the creme la creme of the American consumer. Carmel Valley’s biggest threat in 08 and 09 are the effects of a significant recession. We have not really truly experienced that up to this point in time.
Participant“Active inventory is at 126 which is lower than it ws at any point in time in 2007. This time last year it was 156. Pendings are at 32 which is also lower. This time last year it was at 52.”
Fewer people selling and fewer people buying. Fewer dollars being transacted. In this environment I also imagine fewer luxury cars are being purchased along with large flat screen TV’s, cosmetic surgery, etc. Thats the real story, people in the Carmel Valley’s of the world are hunkering down. These areas are the creme la creme of the American consumer. Carmel Valley’s biggest threat in 08 and 09 are the effects of a significant recession. We have not really truly experienced that up to this point in time.
Participant“Active inventory is at 126 which is lower than it ws at any point in time in 2007. This time last year it was 156. Pendings are at 32 which is also lower. This time last year it was at 52.”
Fewer people selling and fewer people buying. Fewer dollars being transacted. In this environment I also imagine fewer luxury cars are being purchased along with large flat screen TV’s, cosmetic surgery, etc. Thats the real story, people in the Carmel Valley’s of the world are hunkering down. These areas are the creme la creme of the American consumer. Carmel Valley’s biggest threat in 08 and 09 are the effects of a significant recession. We have not really truly experienced that up to this point in time.
Participant“Very true. That is however down the road.”
I don’t know about that, this looks like it is happening right out of the gate.
“Potential damage to the “to-be-delivered” (TBA) market — the most actively traded agency mortgage market where investors can buy bonds before they are actually created — prompted Wall Street dealers to call a special meeting with the Securities Industry and Financial Markets Association at 3:30 p.m. Friday, market sources said. A SIFMA spokeswoman would only say the group is in ongoing discussions with its members.
“The amount of money that investors are willing to pay for agency mortgages (bonds) could be lower if these loans are TBA deliverable and so mortgage spreads could widen,” said Ajay Rajadhyaksha, co-head of U.S. fixed income strategy at Barclays Capital in New York, who will listen to the SIFMA meeting by phone.’
Hmmm….maybe somebody should have asked the traders what they thought of this first, don’t you think! This is really cracking me up.
Participant“Very true. That is however down the road.”
I don’t know about that, this looks like it is happening right out of the gate.
“Potential damage to the “to-be-delivered” (TBA) market — the most actively traded agency mortgage market where investors can buy bonds before they are actually created — prompted Wall Street dealers to call a special meeting with the Securities Industry and Financial Markets Association at 3:30 p.m. Friday, market sources said. A SIFMA spokeswoman would only say the group is in ongoing discussions with its members.
“The amount of money that investors are willing to pay for agency mortgages (bonds) could be lower if these loans are TBA deliverable and so mortgage spreads could widen,” said Ajay Rajadhyaksha, co-head of U.S. fixed income strategy at Barclays Capital in New York, who will listen to the SIFMA meeting by phone.’
Hmmm….maybe somebody should have asked the traders what they thought of this first, don’t you think! This is really cracking me up.
Participant“Very true. That is however down the road.”
I don’t know about that, this looks like it is happening right out of the gate.
“Potential damage to the “to-be-delivered” (TBA) market — the most actively traded agency mortgage market where investors can buy bonds before they are actually created — prompted Wall Street dealers to call a special meeting with the Securities Industry and Financial Markets Association at 3:30 p.m. Friday, market sources said. A SIFMA spokeswoman would only say the group is in ongoing discussions with its members.
“The amount of money that investors are willing to pay for agency mortgages (bonds) could be lower if these loans are TBA deliverable and so mortgage spreads could widen,” said Ajay Rajadhyaksha, co-head of U.S. fixed income strategy at Barclays Capital in New York, who will listen to the SIFMA meeting by phone.’
Hmmm….maybe somebody should have asked the traders what they thought of this first, don’t you think! This is really cracking me up.
Participant“Very true. That is however down the road.”
I don’t know about that, this looks like it is happening right out of the gate.
“Potential damage to the “to-be-delivered” (TBA) market — the most actively traded agency mortgage market where investors can buy bonds before they are actually created — prompted Wall Street dealers to call a special meeting with the Securities Industry and Financial Markets Association at 3:30 p.m. Friday, market sources said. A SIFMA spokeswoman would only say the group is in ongoing discussions with its members.
“The amount of money that investors are willing to pay for agency mortgages (bonds) could be lower if these loans are TBA deliverable and so mortgage spreads could widen,” said Ajay Rajadhyaksha, co-head of U.S. fixed income strategy at Barclays Capital in New York, who will listen to the SIFMA meeting by phone.’
Hmmm….maybe somebody should have asked the traders what they thought of this first, don’t you think! This is really cracking me up.
Participant“Very true. That is however down the road.”
I don’t know about that, this looks like it is happening right out of the gate.
“Potential damage to the “to-be-delivered” (TBA) market — the most actively traded agency mortgage market where investors can buy bonds before they are actually created — prompted Wall Street dealers to call a special meeting with the Securities Industry and Financial Markets Association at 3:30 p.m. Friday, market sources said. A SIFMA spokeswoman would only say the group is in ongoing discussions with its members.
“The amount of money that investors are willing to pay for agency mortgages (bonds) could be lower if these loans are TBA deliverable and so mortgage spreads could widen,” said Ajay Rajadhyaksha, co-head of U.S. fixed income strategy at Barclays Capital in New York, who will listen to the SIFMA meeting by phone.’
Hmmm….maybe somebody should have asked the traders what they thought of this first, don’t you think! This is really cracking me up.
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