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latesummer2008
ParticipantTime to List Price Declines. Perhaps, if we all start listing price drops, than others will see what is happening. It shouldn’t be too difficult over the next few months.
I have figured a way to easily value both the land and the house, then assign them a numerical value relating to price.
Check it out here:
ParticipantTime to List Price Declines. Perhaps, if we all start listing price drops, than others will see what is happening. It shouldn’t be too difficult over the next few months.
I have figured a way to easily value both the land and the house, then assign them a numerical value relating to price.
Check it out here:
Participant40 – 50% off Peak Prices. That’s what I see when all is said and done. This market gets uglier and uglier and we have barely scratched the surface yet. Don’t people realize we have had the biggest increase in appreciation since the Great Depression? And, guess who initiated it all? BANKS. Sound familiar? Denial is finally being replaced by REALITY. Prices HAVE to DECLINE MUCH MORE in order to be affordable. Speculation has ended and their will be very few people playing the “Housing Game” anymore.
This summer will be BAD.
Next summer will be WORSE.
Get ready…
Participant40 – 50% off Peak Prices. That’s what I see when all is said and done. This market gets uglier and uglier and we have barely scratched the surface yet. Don’t people realize we have had the biggest increase in appreciation since the Great Depression? And, guess who initiated it all? BANKS. Sound familiar? Denial is finally being replaced by REALITY. Prices HAVE to DECLINE MUCH MORE in order to be affordable. Speculation has ended and their will be very few people playing the “Housing Game” anymore.
This summer will be BAD.
Next summer will be WORSE.
Get ready…
ParticipantAppraisal Problems R Next… As prices begin dropping, banks are going to want more money down. THEY KNOW houses are not worth the “Negotiated Value”. 25% down will become the new norm for CLOSING transactions. If price declines become swifter, the amount put down or interest rate will increase. Banks will have there hands full of properties and don’t want anymore.
This is the tip of the iceberg, ladies and gentleman…
ParticipantAppraisal Problems R Next… As prices begin dropping, banks are going to want more money down. THEY KNOW houses are not worth the “Negotiated Value”. 25% down will become the new norm for CLOSING transactions. If price declines become swifter, the amount put down or interest rate will increase. Banks will have there hands full of properties and don’t want anymore.
This is the tip of the iceberg, ladies and gentleman…
ParticipantLate Summer 2008 is my prediction for the first buying opportunity on the WESTSIDE of LOS ANGELES. I will stick by that prediction. IMHO, I believe the price declines will be QUICKER and DEEPER, than most think.
Why ?
1)Market peaked in Late Summer 2005 (3 years time)
2)Once panic sets in it will be a BLOODBATH.
3)We will drag along the bottom for 2-3 MORE years (2011)
4)Late Summer 2008 will be the WORST of WORST, before bottom fishers start nibbling.
5)Different areas may start earlier or later, depending when their market peaked.Any other predictions ?
ParticipantLate Summer 2008 is my prediction for the first buying opportunity on the WESTSIDE of LOS ANGELES. I will stick by that prediction. IMHO, I believe the price declines will be QUICKER and DEEPER, than most think.
Why ?
1)Market peaked in Late Summer 2005 (3 years time)
2)Once panic sets in it will be a BLOODBATH.
3)We will drag along the bottom for 2-3 MORE years (2011)
4)Late Summer 2008 will be the WORST of WORST, before bottom fishers start nibbling.
5)Different areas may start earlier or later, depending when their market peaked.Any other predictions ?
ParticipantJune Numbers will Worsen… Lending is tightening, ARMS resetting, RE FRAUD, Swelling Inventory etc., etc, etc…I believe we are at THE TURNING POINT where SIGNIFICANT PRICE DROPS will begin occuring ALL OVER THE SOUTHLAND. Once the MSM sinks their teeth into this, they will milk it all summer long, making it worse and worse and worse.
Can’t spin the Month to Month figures anymore.
Can’t barely spin the Median (B.S.) figures anymore.
Can’t spin the Year over Year figures anymore.
Can’t spin JACK !Even Bernanke is now TRYING to do DAMAGE CONTROL with Subslime. He knows his ship is sinking..
CHECKMATE !!! NAR, CAR, NAHB, Mortgage Brokers, Banks, & RE Agents. GAME OVER…
ParticipantJune Numbers will Worsen… Lending is tightening, ARMS resetting, RE FRAUD, Swelling Inventory etc., etc, etc…I believe we are at THE TURNING POINT where SIGNIFICANT PRICE DROPS will begin occuring ALL OVER THE SOUTHLAND. Once the MSM sinks their teeth into this, they will milk it all summer long, making it worse and worse and worse.
Can’t spin the Month to Month figures anymore.
Can’t barely spin the Median (B.S.) figures anymore.
Can’t spin the Year over Year figures anymore.
Can’t spin JACK !Even Bernanke is now TRYING to do DAMAGE CONTROL with Subslime. He knows his ship is sinking..
CHECKMATE !!! NAR, CAR, NAHB, Mortgage Brokers, Banks, & RE Agents. GAME OVER…
ParticipantSD and LA April Numbers are here. More Bad news I’m afraid. Or good news, depending on your point of view.
TOTAL NUMBER OF SALES (most important figure to analyze)
San Diego County (-13.5%) Year over Year
Median Price (-3.0%) Year over Year ($490,000)Los Angeles County got Hammered (-22.2%) Year over Year
Orange County got Hammered (-24.7%) Year over Year
Riverside (-45.1%)and San Bernadino (-46.5%) BOTH, got Slaughtered !!!
Ventura (-11.7%) Year over Year
You can check the figures at Data Quick
ParticipantSD and LA April Numbers are here. More Bad news I’m afraid. Or good news, depending on your point of view.
TOTAL NUMBER OF SALES (most important figure to analyze)
San Diego County (-13.5%) Year over Year
Median Price (-3.0%) Year over Year ($490,000)Los Angeles County got Hammered (-22.2%) Year over Year
Orange County got Hammered (-24.7%) Year over Year
Riverside (-45.1%)and San Bernadino (-46.5%) BOTH, got Slaughtered !!!
Ventura (-11.7%) Year over Year
You can check the figures at Data Quick
ParticipantBS..BS…BS….BS…BS…. There is only one reason a property doesn’t sell. PRICE. You can print as many glossy pictures, hold as many open houses and dazzle with alot more BS, but the FACT REMAINS, houses don’t sell if they aren’t priced right.
And,in a declining market such as this, it is paramount.
End of story.
May 15, 2007 at 7:08 AM in reply to: Question: Is there any direct correlation between stock market and real estate market? #52870ParticipantYes, Stocks R Next Bubble. Money always goes somewhere. It is piling out of RE into stocks.
But then where?
Mattress ?
The gig is up.
Perhaps it will flow OUT of the country. That is what we really should be talking about.
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