[lindismith]

Now is not a good time to buy. You are young. You don’t know this probably, but real estate is cyclical, and while the long, long term trend is usually up, within that ascent are peaks and valleys. We are coming off a peak, and most informed people believe prices will continue to drop, to a valley that’s very low.

If it were me, I’d sit tight, and see how things progress. Don’t commit to anything.

I know it’s tempting to be a homeowner, but it really isn’t the right time to buy. At some point, you will be able to afford something. It may be this apartment you’re in, but chances are very good it isn’t.

Someone gave me some very good advice last year – a friend who is a mortgage broker. He told me to log onto Zip Realty and start perusing the zip code of where I live, and where I want to buy, so I could become familiar with what’s on the market, and what my money gets me. Within a month I could tell the difference between a good deal, and something over-priced. It will help you if you become more knowledgeable on your market too.

As someone who’s not invested in your future, in my opinion, anything in a flight path would be extremely difficult to sell in the future.

Keep us posted on what they offer you.

[lindismith]

What were the prices like in San Carlos is 2001/2002 for the same house? Does anyone know?

[lindismith]

Update: They lowered their price, and got an offer. Looks like they took a 50K loss.

Update to thread here

[lindismith]

That ccdc link is interesting. Lots of data. Thanks, Josh.

I count 73 properties planned, in completion or complete, totaling 13,389 condo units. Their web page was last updated in feb, ’06.
7 properites in Columbia – 1555 units total
8 in Core – 3108 units
9 in Cortez Hill – 1493 units
34 in East Village – 5887 units
2 in Gaslamp – 523 units
10 in Little Italy – 656 units
2 in Marina – 169 units

I’d love to know which ones will cancel.

Mr. Brightside, do you want my spreadsheet?

[lindismith]

That ccdc link is interesting. Lots of data. Thanks, Josh.

I count 73 properties planned, in completion or complete, totaling 13,389 condo units. Their web page was last updated in feb, ’06.
7 properites in Columbia – 1555 units total
8 in Core – 3108 units
9 in Cortez Hill – 1493 units
34 in East Village – 5887 units
2 in Gaslamp – 523 units
10 in Little Italy – 656 units
2 in Marina – 169 units

I’d love to know which ones will cancel.

Mr. Brightside, do you want my spreadsheet?

[lindismith]

Someone posted recently asking how many vacant condos there were, how many were purchased by speculators, how many were still due to come on the market etc…. I am also interested in finding out these numbers. Who would have the info on how many total units there are? Also, who would know how many are due to come on the market? Is this something the CCD knows? (Center City Development.)

[lindismith]

In: 2
Out:4

I know one couple who moved out in 2003, to Oregon. But they hated the rain, and came back this year. They made a killing on their house when they sold, and are now renting, waiting for the market to go down further.
The other couple moved to Phoenix. They hate the heat, and want to come back. They bought and can’t sell. Their house has been on the market 5-6 months.
Both couples moved in 2003, but the couple going to Oregon was about 6 months ahead. Their timing proved to be very lucky. I suspect the couple who moved to Phoenix may just end up staying there if they can’t get what they want for their house.

[lindismith]

The GOP has completely lost it, is right. I’m in business, so I have right-leanings, but when it comes to social issues, they don’t speak for me at all. Then again, nor do the Democrats. I really thought we would have had a 3rd party emerge by now…. amazing, but there’s been nothing. It must not be bad enough yet.

Regarding Roubini – thanks for turning me on to him PS. He’s really great! He’s someone I can actually understand.

[lindismith]

22. When your factory staff (all hourly wage earners) are carrying 15 page booklets on the benefits of home buying…. HERE IS A SIGN

23. When those same employees are crying in your office that they will never afford a home unless they buy NOW…. HERE IS A SIGN

24. When one of those employees, who did buy, has 5 (maybe more?) other co-workers move in with him so he can make the payments…. HERE IS A SIGN

[lindismith]

Great find!

It’s as if it were written this week! There’s even a reference to a Middle East crisis. Some things don’t change.

[lindismith]

I just can’t believe anybody paid $580K for that thing.

That’s what I’ve been saying about every house for the last 3 years!

There’s no fraud involved. Just greedy speculators, and e-z loans.

[lindismith]

Yeah, I kinda wondered how you get any work done, Perry! I am so busy these days I don’t have much time to post, just read…. Still addicted though. Removing the notification will definitely help you! 🙂

[lindismith]

I had to take a picture of the banner so you can see how huge it is!

They’ve recently added a second banner with the phone number.

That rail in the bottom of the photo is the freeway. Lovely, no?

[img_assist|nid=1316|title=Muy Grande!|desc=|link=node|align=left|width=400|height=300]

[lindismith]

Thanks for this Mydogs. Just goes to show you how everyone is somewhat dependent on the US economy. When we slow down, everyone will slow down. Our closest neighbors, and biggest volumne traders will feel it most – Canada, Mexico, China, Europe. And then their neighbors and traders will feel it. And so on, and so on.

I can’t always keep up with all the financial advice and exchange of financial ideas on this board, so forgive me if this has already been discussed on some other thread, but if foreigners knew how much debt American consumers have, and how big the RE bubble really was, wouldn’t they be pulling their money out in droves? What about our deficit? Don’t they think that’s worrisome? Do they not have an inkling of our situation? Or do they? If so, how is this manifesting?

Can someone tell me why they are still investing in us?

[lindismith]

Thanks for the link, PD. So how do you calculate the months worth of inventory?

And just to verify, the %change is yoy, right?

What’s interesting is that N.county coastal is the only area with a postive gain.

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