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Navy Federal Credit Union is offering 6.25% APY for 18 months for deposits of $15,000 and higher.

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I see. No, the near quintupling of inventory (mentioned above) is spread out over the same “footprint” of 2 years ago, which does not/did not include Temecula.

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The count I posted above includes pretty much every city and town in San Diego. What are you driving at, anyway? You can go to http://www.ziprealty.com yourself, you know, and track inventory of whatever you’re interested in for free?

FYI-Trying to pick apart inventory data in an effort to find some sort of glimmer of hope for the “bullish” real estate case will prove futile, if that is what one is up to. Come November, the much-touted median in San Diego County should reflect between 10% and 15% down Y-O-Y. The end of the party is nigh…

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A/o this afternoon, ZipRealty says the entire San Diego metro area has 23,474 listings(a healthy bump in the # today BTW), which is about 19,000 MORE than April 2004, when there were roughly 4,000 listings. This certainly does not include all the new construction available for purchase, either.

I’m not sure if this helps you. Good luck!

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Sounds like you are a “player” who is worthy of an free pass.

No hate here, by the way. I, like you, am doing my part to clean up the real estate profession. If I happen to save a few outlandish articles for posterity, then I will be able to share them in the future so that others don’t follow the advice of these snake oil salesmen again. What’s so wrong with that? Check out “BULL! 144 Stupid Statements From the Market’s Fallen Prophets” by Greg Eckler & L.M. MacDonald for a fun read that would not have been possible if history had not been kept on some of the stupid things Jim Cramer, Mary Meeker, Suze Orman, Lou Dobbs, and even Alan Greenspan said during the final hours before the stock market meltdown of 2000-2003.

My bitterness stems from my own inability to convince good friends that buying last year and THIS year were mistakes. I know that they are screwed now and I do partially blame the statements made by David Lereah, LAY, and other local pundits in influencing their decisions. That’s it. I could give a darn whether I ever own another house here in San Diego. I’m just tired of all the lies I read every day. Nuff said?

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Sorry SDAppraiser-

I saved enough Sunday Homes sections (from the Union Tribune and the like) over the last three years to be able to share with you that the players were a large part of the game.

“Buy now or be priced out forever” was never part of the game before….yet I have several DOZEN articles written locally by realtors over the last three years that suggest these were the new rules of the game.

Unless…you feel I should buy now or be priced out forever? Didn’t think so.

No way to separate the two (players/the game)…none at all. By the way…buying a house to live in should never have become a game.

P.S. Any “hit-the-number” appraiser friends of yours should expect to be visited by the FBI in coming years. Usually I would say something like “Heaven help them”. Not in this case….”burn, baby, burn”.

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I’m sorry powayseller…

This is the annual National Association of Realtors convention and it is being held in New Orleans this year.

I was attempting to be funny, implying that realtors are going to be so broke by the end of summer that they, themselves, may be the ones looting New Orleans this time around.

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You are probably right about the comp thing….at one point, however, this moron was “helping” nearby sellers get top dollar.

Sure hope he doesn’t need to sell…..EVER!

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Of course, powayseller. And I have been telling people that it is stupid to buy since early 2003. Prior to that I owned a house and felt lucky to get out when I did.

We all know that you can’t save the American consumer from him/herself, however. They might listen to me about the house (NOW..not the last three years, though, as all those smug retards had their day, so they thought) but as all recovering crackheads eventually return to the pipe, all debt-crazy Americans will find their way to ruin themselves financially one way or the other.

BTW, powayseller- I have always enjoyed your posts. Mine always rub people the wrong way. As someone who is known for his ability to get things done, come hell or high water, my opinions may not be popular but my approach is often appreciated by those who benefit from it.

I post very infrequently, but I am truly enjoying seeing this whole thing “roll over”. (And with very little in the way of bad news causing it…I am encouraged that we will see drops of 50% happen more quickly than any of us thought imaginable.)

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Thanks waiting hawk. I was also thinking about organizing a “field trip” where a motor coach would take a group of us on a tour of some of the most forlorn bubble markets in Arizona, in order to gawk at the number of homes for sale. For fun, you know..

What about coordinating a bogus “investors trip” whereby we do a whirlwind tour of homes, pretend to be very excited and interested in buying from the f*cked flippers (getting them all in a lather), and then at the very end…..let them know that you’d like to share a business opportunity with them (some type of multi-level marketing scam) and leave quickly before you pee your pants laughing.

Yes, my wife thinks I am evil…and I can’t disagree.

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You guys are right…just trying to be funny, I suppose.

I do believe, however, that we do not need to be too sympathetic to anyone’s “mistakes” or “wounds”. After all, we are all free to make those same “mistakes” and I don’t think anyone else would be too sympathetic to plight born of our own stupidity.

Let’s not let political correctness get in the way of us being able to call an “idiot” an “idiot” going forward, either.

(I guess there’s a little bit of Surfer-X in me and I am certain there are few others who lurk here who feel the same way)

Thanks for sharing your opinions.

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From the Alan Gin thread….I move my question over here:

Submitted by lendingbubbleco… on July 25, 2006 – 3:26pm.

I am curious about what the Options and Futures markets for the major stock market indices (SP500, NASDAQ, DOW) looked like heading into 2000, 2001, 2002. Seems there was an awful lot of optimism back at the end of the Nineties…since an awful lot of prognosticators seem to have gotten it wrong back then, wouldn’t it have made sense that the futures markets might have looked eerily similar to what the CME housing market futures look like today ?(you know…predicting extremely modest declines of 1-3%, but no major risks ahead)

Just curious..I do not have the facts with me, just questions.

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I am curious about what the Options and Futures markets for the major stock market indices (SP500, NASDAQ, DOW) looked like heading into 2000, 2001, 2002. Seems there was an awful lot of optimism back at the end of the Nineties…since an awful lot of prognosticators seem to have gotten it wrong back then, wouldn’t it have made sense that the futures markets might have looked eerily similar to what the CME housing market futures look like today ?(you know…predicting extremely modest declines of 1-3%, but no major risks ahead)

Just curious..I do not have the facts with me, just questions.

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So you’ll bet me $500 straight up that the house mentioned above WILL fetch it’s current asking price? We’ll have to figure out a way to have someone escrow it for us.

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Murray, OK…sorry to pee in your wheaties, but…

here’s highlighting one exactly like what you’re asking for, with the ad on ZipRealty mentioning that two homes just like it sold for 775 and 800K earlier THIS year, current price of 684K (it won’t fetch that either..I’ll bet ANYONE $500 straight up):

(I posted this originally in the “Observations in my area” thread yesterday)

Here’s one from a neighborhood I’ve been watching for a little over a year now in Rancho Bernardo (SD County)…MLS#066034540.

Per Zip:
Price Reductions:
5/22/06 $760,000 to $724,900
6/20/06 $724,900 to $699,000
7/10/06 $699,000 to $684,000

From ZipRealty:
“Description:
Check out this price! Huge reductions! Motivated seller! Two homes just like this sold for $775,000 and $800,000 earlier this year! Pride of… more”

This is a pretty nice house, too. Listings in the entire meighborhood appear to be chasing the market down, too, with price reductions. More coming on the market soon, too. Sooooo glad I didn’t buy in here last year. What would make a prospective buyer pull the trigger NOW, when all he sees around him is prices being reduced every couple of weeks/months?

Patience, grasshoppa.

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