[latesummer2008]

Cyphire, that was awesome! You spelled it out for all the HACKS here, who THINK they know what they are talking about, but don’t. Without a Buyer, you don’t have a transaction. PERIOD…. And buyers are hesitant with good reason. Market Psychology has changed, and there are very few houses selling compared to the amount of inventory. Once this FINALLY becomes evident to sellers, prices will DROP (And I think dramatically and faster than most believe). I think the numbers coming out now for APRIL (Dataquick)are the first real slap in the face for people serious about selling. It starts to steamroll from here.Inventory will BALLOON even more this summer. Anyone buying now, will be upside down in a matter of months.
As you mentioned, nobody is looking at the MANY houses that AREN’T selling, just the reported prices of the FEW houses that are selling. Median prices may be going up, but VOLUME is DROPPING DRAMATICALLY, in many areas.
Those saying the high end is not, and will not be affected, are unrealistic. High End Buyers are generally more educated than Lower End Buyers, and will be the first to stop purchasing. So what are we left with? The Real Estate Food Chain getting eaten from both the Top and the Bottom.

Thank you for your insight into what is really going on. Unfortunately, many of the regulars on this board just like to hear themselves and each other talk, while they haven’t a clue. Way to cut through all the nonsense and tell it like it is.

Bravo!

http://westsideremeltdown.blogspot.com

[latesummer2008]

And I suppose the Condo Market has nothing to do with the SFR market? The Real Estate Food Chain is collapsing whether you want to believe it, or not. The bottom gets hit first, and it effects 2-5 transactions up the chain. Pretty simple to understand. You can interpret the numbers anyway you wish, but if you think that monthly report is positive or just noise, than I suggest you look again.

THE MARKET IS BAD, its not just the condos…..

http://westsideremeltdown.blogspot.com

[latesummer2008]

And I suppose the Condo Market has nothing to do with the SFR market? The Real Estate Food Chain is collapsing whether you want to believe it, or not. The bottom gets hit first, and it effects 2-5 transactions up the chain. Pretty simple to understand. You can interpret the numbers anyway you wish, but if you think that monthly report is positive or just noise, than I suggest you look again.

THE MARKET IS BAD, its not just the condos…..

http://westsideremeltdown.blogspot.com

[latesummer2008]

DataQuick Numbers show Median Prices YOY in April for different areas of SD in their CA City Chart:

Carlsbad
196 sales (-13.61) $735,000 — $635,000

Solana Beach
11 sales (-28.21) $975,000 — $700,000

Rancho Santa Fe
18 sales (-27.89) $2,945,000 — $2,125,000

This aggregate number might be a bit more reliable from DataQuick. Regardless, it appears that these 3 areas are being hit the hardest right now.

http://westsideremeltdown.blogspot.com

[latesummer2008]

DataQuick Numbers show Median Prices YOY in April for different areas of SD in their CA City Chart:

Carlsbad
196 sales (-13.61) $735,000 — $635,000

Solana Beach
11 sales (-28.21) $975,000 — $700,000

Rancho Santa Fe
18 sales (-27.89) $2,945,000 — $2,125,000

This aggregate number might be a bit more reliable from DataQuick. Regardless, it appears that these 3 areas are being hit the hardest right now.

http://westsideremeltdown.blogspot.com

[latesummer2008]

Or a realistic view of say:

Rancho Santa Fe 92067
18 sales -35.0% $467/sqft

I would say the high end market is showing a wee bit of weakness. Oh, but of course, this is just an anamoly, right?

Keep drinking that Realtor Kool-Aid..

http:westsideremeltdown.blogspot.com

[latesummer2008]

Or a realistic view of say:

Rancho Santa Fe 92067
18 sales -35.0% $467/sqft

I would say the high end market is showing a wee bit of weakness. Oh, but of course, this is just an anamoly, right?

Keep drinking that Realtor Kool-Aid..

http:westsideremeltdown.blogspot.com

[latesummer2008]

Where are the Condo Prices FSD? Why don’t you post those as well…

I thought so.. Because they are AWFUL….

http://westsideremeltdown.blogspot.com

[latesummer2008]

Where are the Condo Prices FSD? Why don’t you post those as well…

I thought so.. Because they are AWFUL….

http://westsideremeltdown.blogspot.com

[latesummer2008]

DataQuick Numbers are out. Not great for SFRs in SD.

Carlsbad -18.3%
Coronado -11.5%
La Jolla -19.2%
Rancho Santa Fe -35.0%
Rancho Bernardo – 23.9%
Solana Beach -42.8%

Condos got murdered almost completely across the board, as well.

But I guess this is just a monthly aberration, right? And all the other High End Areas that got WHACKED in April as well.

May will be even worse..

http://westsideremeltdown.blogspot.com

[latesummer2008]

DataQuick Numbers are out. Not great for SFRs in SD.

Carlsbad -18.3%
Coronado -11.5%
La Jolla -19.2%
Rancho Santa Fe -35.0%
Rancho Bernardo – 23.9%
Solana Beach -42.8%

Condos got murdered almost completely across the board, as well.

But I guess this is just a monthly aberration, right? And all the other High End Areas that got WHACKED in April as well.

May will be even worse..

http://westsideremeltdown.blogspot.com

[latesummer2008]

Dataquick Numbers are out for SD. Not very good for SFRs:

Carlsbad -18.3%
Coronado -11.5%
La Jolla -19.2%
Rancho Santa Fe -35.0%
Solana Beach -42.8%

Massive declines for Condos almost all across the board.

But I guess this is an aberration, along with all the other higher end areas in Southern California that got WHACKED in April….

Right????

Wait until you see the May numbers…

http://westsideremeltdown.blogspot.com

[latesummer2008]

Dataquick Numbers are out for SD. Not very good for SFRs:

Carlsbad -18.3%
Coronado -11.5%
La Jolla -19.2%
Rancho Santa Fe -35.0%
Solana Beach -42.8%

Massive declines for Condos almost all across the board.

But I guess this is an aberration, along with all the other higher end areas in Southern California that got WHACKED in April….

Right????

Wait until you see the May numbers…

http://westsideremeltdown.blogspot.com

[latesummer2008]

High End SD didn’t so fare so well.

Carlsbad -18.3%
Coronado -11.5%
La Jolla -19.2%
Rancho Santa Fe -35.0%
Solana Beach -42.8%

I doubt this is an abberation, since LA County and Orange County had the same results, in April.

May was probably worse…

http://westsideremeltdown.blogspot.com

[latesummer2008]

High End SD didn’t so fare so well.

Carlsbad -18.3%
Coronado -11.5%
La Jolla -19.2%
Rancho Santa Fe -35.0%
Solana Beach -42.8%

I doubt this is an abberation, since LA County and Orange County had the same results, in April.

May was probably worse…

http://westsideremeltdown.blogspot.com

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