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latesummer2008
ParticipantIf Del Mar is “on fire” , how come the number of sales declined AND the price went down. I can understand the lack of sales due to lack of inventory, but if that is the case, than price should have gone up. (Supply and Demand)
Sdr, maybe you have some square footage numbers (YOY) that show Del Mar going up?
ParticipantIf Del Mar is “on fire” , how come the number of sales declined AND the price went down. I can understand the lack of sales due to lack of inventory, but if that is the case, than price should have gone up. (Supply and Demand)
Sdr, maybe you have some square footage numbers (YOY) that show Del Mar going up?
ParticipantWestwood Condos are getting hit, but very little inventory of SFRs in Westwood. Like most here on the Westside, good, clean houses in decent areas, that are priced right, sell. Everything else is just sitting.
I came across an interesting website that gives current data by zip code, using Average Selling Prices. Better than Median Prices but still would like to see $/SQFT numbers:Here are a few zips showing some weakness.
San Diego County
Cardiff 92007
4/7 10 sales $939K
5/7 11 sales $835K (-11.1%)Del Mar 92014
4/7 17 sales $1656K
5/7 11 sales $1365K (-17.6%)La Jolla 92037
4/7 48 sales $1178K
5/7 54 sales $1120K (-5.0%)Ocean Beach 92107
4/7 13 sales $824K
5/7 36 sales $628K (-23.8%)Point Loma 92106
4/7 21 sales $1015K
5/7 18 sales $836K (-17.3%)Orange County
Corona Del Mar 92625
4/7 15 sales $1560K
5/7 17 sales $1416K (-9.3%)Newport Beach 92660
4/7 20 sales $1574K
5/7 34 sales $1326K (-15.8%)Newport Beach 92661
4/7 3 sales $2703K
5/7 7 sales $1592K (-41.1%)Laguna Beach 92651
4/7 31 sales $1674K
5/7 24 sales $1577K (-5.8%)Website is : Melissa Data
http://www.melissadata.com/lists/ezlists/ezhomeowners.aspxIt shows monthly data, going back 6 years, by zip code
ParticipantWestwood Condos are getting hit, but very little inventory of SFRs in Westwood. Like most here on the Westside, good, clean houses in decent areas, that are priced right, sell. Everything else is just sitting.
I came across an interesting website that gives current data by zip code, using Average Selling Prices. Better than Median Prices but still would like to see $/SQFT numbers:Here are a few zips showing some weakness.
San Diego County
Cardiff 92007
4/7 10 sales $939K
5/7 11 sales $835K (-11.1%)Del Mar 92014
4/7 17 sales $1656K
5/7 11 sales $1365K (-17.6%)La Jolla 92037
4/7 48 sales $1178K
5/7 54 sales $1120K (-5.0%)Ocean Beach 92107
4/7 13 sales $824K
5/7 36 sales $628K (-23.8%)Point Loma 92106
4/7 21 sales $1015K
5/7 18 sales $836K (-17.3%)Orange County
Corona Del Mar 92625
4/7 15 sales $1560K
5/7 17 sales $1416K (-9.3%)Newport Beach 92660
4/7 20 sales $1574K
5/7 34 sales $1326K (-15.8%)Newport Beach 92661
4/7 3 sales $2703K
5/7 7 sales $1592K (-41.1%)Laguna Beach 92651
4/7 31 sales $1674K
5/7 24 sales $1577K (-5.8%)Website is : Melissa Data
http://www.melissadata.com/lists/ezlists/ezhomeowners.aspxIt shows monthly data, going back 6 years, by zip code
ParticipantMacro vs Micro. I think the basic difference here is, I have a different view, than most on this board. I am looking at the overall Southern California Real Estate Market and things that are happening at the National Level such as credit tightening,foreclusures, REOs etc, and most here are looking at just, San Diego. I work full time as science teacher and don’t have the luxury of following every single thread here. Sorry. If there is something I am thinking about, than I am going to share it. And because I happen to be extremely bearish on the health of the market, you think I am expecting your agreement. I could care less if you agree or don’t agree. I watch trends, make observations, present data and form conclusions. Plain and simple. If you are just concentrating on an isolated market, than you aren’t seeing the big picture. And the big picture seems pretty bleak, In my opinion. I am not here to argue with anyone. I encourage others opinions, but am getting tired of all the accusations. I choose to be a part of this forum, and NOBODY else here, has the right to think they are the authority. An Internet forum is a form of social discourse, and if you take offense to what I have to say, than go somewhere else. Period.
My prediction, is that we will witness serious volume declines this month in all 3 counties, across the board. The median may drop as well, but is incidental, as the numbers can be skewed.
What is your prediction? Step up to the plate and tell us what you think about the marketplace.
ParticipantMacro vs Micro. I think the basic difference here is, I have a different view, than most on this board. I am looking at the overall Southern California Real Estate Market and things that are happening at the National Level such as credit tightening,foreclusures, REOs etc, and most here are looking at just, San Diego. I work full time as science teacher and don’t have the luxury of following every single thread here. Sorry. If there is something I am thinking about, than I am going to share it. And because I happen to be extremely bearish on the health of the market, you think I am expecting your agreement. I could care less if you agree or don’t agree. I watch trends, make observations, present data and form conclusions. Plain and simple. If you are just concentrating on an isolated market, than you aren’t seeing the big picture. And the big picture seems pretty bleak, In my opinion. I am not here to argue with anyone. I encourage others opinions, but am getting tired of all the accusations. I choose to be a part of this forum, and NOBODY else here, has the right to think they are the authority. An Internet forum is a form of social discourse, and if you take offense to what I have to say, than go somewhere else. Period.
My prediction, is that we will witness serious volume declines this month in all 3 counties, across the board. The median may drop as well, but is incidental, as the numbers can be skewed.
What is your prediction? Step up to the plate and tell us what you think about the marketplace.
ParticipantWhy don’t YOU stick to that thread then. I would like to debate what the May numbers will say instead of name calling.
ParticipantWhy don’t YOU stick to that thread then. I would like to debate what the May numbers will say instead of name calling.
ParticipantI realize that some here think that I exaggerate, but I don’t believe most of you realize the severity of this market. I am not going to go through the all the problems facing a market such as this. We have all been through it 100 times. However, when all you see are bloated Median Prices for homes during preceding months, and then all of a sudden, you see groups of high end markets overwhelmingly negative in LA, SD and Orange counties, it draws your attention. I think you guys are kidding yourselves. I would bet the numbers from MAY will leave no doubt about how badly the market is tanking right now.
I was out looking at open houses here on the Westside of LA and traffic has slowed considerably since 2 weeks ago. Many houses are back on the market after falling out of escrow (Financing, Sale Contingencies etc..) and the few buyers out there had NO sense of urgency. The market has changed, and buyers are just sitting, watching prices drop. Why not, They aren’t going up? So what’s the rush?
Also, it was serious SIGN WARS out there this weekend. 95% of the corners had at least 1 sign, often 2,3,4 or more on them. It was pathetic. What kind of message does that send to buyers? I would imagine the same is happening in SD.The Word is Out…Here…
ParticipantI realize that some here think that I exaggerate, but I don’t believe most of you realize the severity of this market. I am not going to go through the all the problems facing a market such as this. We have all been through it 100 times. However, when all you see are bloated Median Prices for homes during preceding months, and then all of a sudden, you see groups of high end markets overwhelmingly negative in LA, SD and Orange counties, it draws your attention. I think you guys are kidding yourselves. I would bet the numbers from MAY will leave no doubt about how badly the market is tanking right now.
I was out looking at open houses here on the Westside of LA and traffic has slowed considerably since 2 weeks ago. Many houses are back on the market after falling out of escrow (Financing, Sale Contingencies etc..) and the few buyers out there had NO sense of urgency. The market has changed, and buyers are just sitting, watching prices drop. Why not, They aren’t going up? So what’s the rush?
Also, it was serious SIGN WARS out there this weekend. 95% of the corners had at least 1 sign, often 2,3,4 or more on them. It was pathetic. What kind of message does that send to buyers? I would imagine the same is happening in SD.The Word is Out…Here…
ParticipantQ1 2007 slipped 6.0% measured Year Over Year of course. I consider other measurements about useless, unless there YOY. Does that make the -6.0% better? I don’t think so. Other numbers came out from DataQuick today, and they show condos getting beat up during April, in San Diego County. Not to mention, some big drops in SFRs.
Doesn’t look so good….
ParticipantQ1 2007 slipped 6.0% measured Year Over Year of course. I consider other measurements about useless, unless there YOY. Does that make the -6.0% better? I don’t think so. Other numbers came out from DataQuick today, and they show condos getting beat up during April, in San Diego County. Not to mention, some big drops in SFRs.
Doesn’t look so good….
ParticipantIt’s obvious, sales are trending down, and, inventory is trending up. Only one way for prices to go, DOWN. I just got back from surveying the market at about 10 open houses here on the Westside of LA. Very little traffic as I could see from the sign in sheets. Also realtors tend to be a little listless today. Contingent offers and escrows falling out, no pending offers on anything, and generally not very helpful, unless they think your a client. I like to gauge the market by open house activity. It was definitely quiet out there today. Plus it is looking like SIGN WARS out there. 95% of the corners (No exaggeration.) had at least 1 sign, often times 2,3 or 4. My sense is there aren’t many REAL buyers out there now, that the easy credit spigot has been turned off. Also, no real motivation to buy presently. Just buyers “kicking tires” so to speak, and checking prices. I have also noticed that the amount of sales comparables coming through on Zillow is becoming less and less each week. My sense is the market is withering..
I will be very curious to see numbers for May that include Volume and $/sqft. My sense is they will be down considerably.Here is an interesting website that shows visually what is happening with 1)Inventory, 2)REOs, 3)Number of Sales
http://bubbletrackinggraphs.blogspot.com
The real story is, what is NOT selling, as opposed to what IS selling. Also, Volume change, as median prices are most likely skewed upward, with subprime meltdowns taking out the bottom tier.
ParticipantIt’s obvious, sales are trending down, and, inventory is trending up. Only one way for prices to go, DOWN. I just got back from surveying the market at about 10 open houses here on the Westside of LA. Very little traffic as I could see from the sign in sheets. Also realtors tend to be a little listless today. Contingent offers and escrows falling out, no pending offers on anything, and generally not very helpful, unless they think your a client. I like to gauge the market by open house activity. It was definitely quiet out there today. Plus it is looking like SIGN WARS out there. 95% of the corners (No exaggeration.) had at least 1 sign, often times 2,3 or 4. My sense is there aren’t many REAL buyers out there now, that the easy credit spigot has been turned off. Also, no real motivation to buy presently. Just buyers “kicking tires” so to speak, and checking prices. I have also noticed that the amount of sales comparables coming through on Zillow is becoming less and less each week. My sense is the market is withering..
I will be very curious to see numbers for May that include Volume and $/sqft. My sense is they will be down considerably.Here is an interesting website that shows visually what is happening with 1)Inventory, 2)REOs, 3)Number of Sales
http://bubbletrackinggraphs.blogspot.com
The real story is, what is NOT selling, as opposed to what IS selling. Also, Volume change, as median prices are most likely skewed upward, with subprime meltdowns taking out the bottom tier.
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