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October 10, 2007 at 7:17 PM in reply to: So you still think that a 50% correction or more is crazy??? #87937
little lady
ParticipantI rented during the start of the last downturn, and I vaguely recall the rents being a little lower. The house I rented was I believe 925$. I think they may have dropped 50 to 100$. Not a huge amount. My mortgage payment was 1100$ when I bought in 1995.
October 10, 2007 at 7:17 PM in reply to: So you still think that a 50% correction or more is crazy??? #87940ParticipantI rented during the start of the last downturn, and I vaguely recall the rents being a little lower. The house I rented was I believe 925$. I think they may have dropped 50 to 100$. Not a huge amount. My mortgage payment was 1100$ when I bought in 1995.
October 10, 2007 at 11:45 AM in reply to: So you still think that a 50% correction or more is crazy??? #87818ParticipantIn my area prices have taken a nose dive. Yes, there are the feeble minded folks still asking “585k, for a SFR 1300sq ft, 1972, no ups no extras”. They are clearly in the minority. All the good deals are REO’s and short sales.
However, when a decent size, good neighborhood, with pool, comes on @ 385k to 399k it’s quickly scooped up. These are regular loans. If they are going that fast still, to me that says people who can afford to buy, are gonna buy at that price, so how can it go lower? Over 50% would be several hundred dollars less than going rent…….
October 10, 2007 at 11:45 AM in reply to: So you still think that a 50% correction or more is crazy??? #87822ParticipantIn my area prices have taken a nose dive. Yes, there are the feeble minded folks still asking “585k, for a SFR 1300sq ft, 1972, no ups no extras”. They are clearly in the minority. All the good deals are REO’s and short sales.
However, when a decent size, good neighborhood, with pool, comes on @ 385k to 399k it’s quickly scooped up. These are regular loans. If they are going that fast still, to me that says people who can afford to buy, are gonna buy at that price, so how can it go lower? Over 50% would be several hundred dollars less than going rent…….
October 9, 2007 at 6:05 PM in reply to: Sandicor MLS Statics are out and it really ain’t pretty #87665Participant“Aug. 2007 $1,328,689,822
Sep. 2007 $872,492,17534% reduction. This is due to seasonal reasons & the credit squeeze”
Heck ya’ just wait ’til next month!
October 9, 2007 at 6:05 PM in reply to: Sandicor MLS Statics are out and it really ain’t pretty #87668Participant“Aug. 2007 $1,328,689,822
Sep. 2007 $872,492,17534% reduction. This is due to seasonal reasons & the credit squeeze”
Heck ya’ just wait ’til next month!
October 8, 2007 at 3:44 PM in reply to: Sandicor MLS Statics are out and it really ain’t pretty #87427Participant“Average DOM seems reasonable; most areas less than 90 days. Is this reliable or fudged on MLS? If DOM is so low, why Months of Inventory is high many times? Anyway to reconcile these”
DOM is definitely fabricated. My own agent told me that. He takes a listing for 60 days and if it doesn’t sell he relists it.
I noticed the high MOI as well, and it’s only gonna get worse….waiting with baited breath now…………
October 8, 2007 at 3:44 PM in reply to: Sandicor MLS Statics are out and it really ain’t pretty #87434Participant“Average DOM seems reasonable; most areas less than 90 days. Is this reliable or fudged on MLS? If DOM is so low, why Months of Inventory is high many times? Anyway to reconcile these”
DOM is definitely fabricated. My own agent told me that. He takes a listing for 60 days and if it doesn’t sell he relists it.
I noticed the high MOI as well, and it’s only gonna get worse….waiting with baited breath now…………
ParticipantI dunno, you don’t think there is a change a brewin’?
Participant“I’m here . . . you need something?”
Haha, your funny……..lol
No crystal but, but I have a pair of binoculars you can borrow….lol
ParticipantWhere is scitzo?
September 29, 2007 at 2:44 PM in reply to: REMARKABLE: SD inventories spike to new highs in late September….. #86368ParticipantYOU PEGGED ME!
2 YEARS, not me either. I found the perfect place. Going into foreclosure in November….. I am trying to hold out until spring ’08, but I don’t wanna lose my chance of getting exactly where or what I want….(I can get another approval) I wanted my realtor to know I mean business.
September 29, 2007 at 2:08 PM in reply to: REMARKABLE: SD inventories spike to new highs in late September….. #86361Participant“You don’t really belive the “old site” actual inventory number of 15,000 do you?”
It’s actually pretty online with the new site. Look @ 3mo., 6 mo., very simular stats. I believe the new site includes a larger area……
When it’s updated on the 31st it will be up like the old site is. I have been watching the site for a LONG time.
By the way, I sold high and WILL buy low.
September 29, 2007 at 5:29 AM in reply to: REMARKABLE: SD inventories spike to new highs in late September….. #86319ParticipantThe old site has it up 3.9%. This just got updated yesterday. It indeed has begun to spike.
My realtor told me that 30 houses are expected in October, in my area alone……..I am ready to go, got my money in my pocket and an approval in my hand……let the blood bath begin!
I am already seeing pre-2003 prices in my area, on repossesions……….
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