[Mark Holmes]

[quote=Nor-LA-SD-guy][quote=kewp]Isn’t there also a huge glut of inventory in Temecula due to over-building?[/quote]

From What I have been seeing all the decent ones get snapped up as soon as they hit the MLS as REO (have offers over list) (were talking hours here as well).

the old homes hang out awhile as it’s not something most are looking for to buy (to rent maybe) but not to buy.

Also I just heard Earlier this week Temecula is still one of the fastest growing area’s in SoCal (not much over building going on right now)

My two cents, (grab the bargains while they last) oh and I think I used to hear the same things in 1990 , you know Japan going to rule the world, U.S.A. to become Mexico. world to end in 2000 the list goes on.

Oh I think Gold was 1000/oz in the eighties as well before it dropped down to around 300/oz .

[/quote]

In my humble opinion, this is definitely not 1990. More like 1929. Or God help us, 1873.

This is the very beginning of a global synchronous downturn which much of the global media is already calling a depression.

All bets are off, guys and girls. I would counsel holding onto cash at least through the fall, and keep an eye on your banks stock price and balance sheet.

IMHO.

[Mark Holmes]

[quote=Nor-LA-SD-guy][quote=kewp]Isn’t there also a huge glut of inventory in Temecula due to over-building?[/quote]

From What I have been seeing all the decent ones get snapped up as soon as they hit the MLS as REO (have offers over list) (were talking hours here as well).

the old homes hang out awhile as it’s not something most are looking for to buy (to rent maybe) but not to buy.

Also I just heard Earlier this week Temecula is still one of the fastest growing area’s in SoCal (not much over building going on right now)

My two cents, (grab the bargains while they last) oh and I think I used to hear the same things in 1990 , you know Japan going to rule the world, U.S.A. to become Mexico. world to end in 2000 the list goes on.

Oh I think Gold was 1000/oz in the eighties as well before it dropped down to around 300/oz .

[/quote]

In my humble opinion, this is definitely not 1990. More like 1929. Or God help us, 1873.

This is the very beginning of a global synchronous downturn which much of the global media is already calling a depression.

All bets are off, guys and girls. I would counsel holding onto cash at least through the fall, and keep an eye on your banks stock price and balance sheet.

IMHO.

[Mark Holmes]

[quote=Nor-LA-SD-guy][quote=kewp]Isn’t there also a huge glut of inventory in Temecula due to over-building?[/quote]

From What I have been seeing all the decent ones get snapped up as soon as they hit the MLS as REO (have offers over list) (were talking hours here as well).

the old homes hang out awhile as it’s not something most are looking for to buy (to rent maybe) but not to buy.

Also I just heard Earlier this week Temecula is still one of the fastest growing area’s in SoCal (not much over building going on right now)

My two cents, (grab the bargains while they last) oh and I think I used to hear the same things in 1990 , you know Japan going to rule the world, U.S.A. to become Mexico. world to end in 2000 the list goes on.

Oh I think Gold was 1000/oz in the eighties as well before it dropped down to around 300/oz .

[/quote]

In my humble opinion, this is definitely not 1990. More like 1929. Or God help us, 1873.

This is the very beginning of a global synchronous downturn which much of the global media is already calling a depression.

All bets are off, guys and girls. I would counsel holding onto cash at least through the fall, and keep an eye on your banks stock price and balance sheet.

IMHO.

[Mark Holmes]

[quote=Nor-LA-SD-guy][quote=kewp]Isn’t there also a huge glut of inventory in Temecula due to over-building?[/quote]

From What I have been seeing all the decent ones get snapped up as soon as they hit the MLS as REO (have offers over list) (were talking hours here as well).

the old homes hang out awhile as it’s not something most are looking for to buy (to rent maybe) but not to buy.

Also I just heard Earlier this week Temecula is still one of the fastest growing area’s in SoCal (not much over building going on right now)

My two cents, (grab the bargains while they last) oh and I think I used to hear the same things in 1990 , you know Japan going to rule the world, U.S.A. to become Mexico. world to end in 2000 the list goes on.

Oh I think Gold was 1000/oz in the eighties as well before it dropped down to around 300/oz .

[/quote]

In my humble opinion, this is definitely not 1990. More like 1929. Or God help us, 1873.

This is the very beginning of a global synchronous downturn which much of the global media is already calling a depression.

All bets are off, guys and girls. I would counsel holding onto cash at least through the fall, and keep an eye on your banks stock price and balance sheet.

IMHO.

[Mark Holmes]

[quote=Nor-LA-SD-guy][quote=kewp]Isn’t there also a huge glut of inventory in Temecula due to over-building?[/quote]

From What I have been seeing all the decent ones get snapped up as soon as they hit the MLS as REO (have offers over list) (were talking hours here as well).

the old homes hang out awhile as it’s not something most are looking for to buy (to rent maybe) but not to buy.

Also I just heard Earlier this week Temecula is still one of the fastest growing area’s in SoCal (not much over building going on right now)

My two cents, (grab the bargains while they last) oh and I think I used to hear the same things in 1990 , you know Japan going to rule the world, U.S.A. to become Mexico. world to end in 2000 the list goes on.

Oh I think Gold was 1000/oz in the eighties as well before it dropped down to around 300/oz .

[/quote]

In my humble opinion, this is definitely not 1990. More like 1929. Or God help us, 1873.

This is the very beginning of a global synchronous downturn which much of the global media is already calling a depression.

All bets are off, guys and girls. I would counsel holding onto cash at least through the fall, and keep an eye on your banks stock price and balance sheet.

IMHO.

[Mark Holmes]

I’m no cheapskate! I’ve got HBO and will DVR it tonight to watch later…

[Mark Holmes]

I’m no cheapskate! I’ve got HBO and will DVR it tonight to watch later…

[Mark Holmes]

I’m no cheapskate! I’ve got HBO and will DVR it tonight to watch later…

[Mark Holmes]

I’m no cheapskate! I’ve got HBO and will DVR it tonight to watch later…

[Mark Holmes]

I’m no cheapskate! I’ve got HBO and will DVR it tonight to watch later…

[Mark Holmes]

[quote=davelj][quote=Mark Holmes]It’s just amazing to me that anyone who is somewhat informed would be calling a bottom now. It would fly in the face of all statistical, historical and common sense evidence. The real estate boom that just ended, the biggest in San Diego history, will be followed by a bust of commensurate size and duration. Every boom was and is followed by one.

An 85-year-old, wealthy, lifelong San Diegan told me at the peak of the market that the time to buy would be when everyone knows it is a terrible time to buy.

My guess is that sentiment is still 2-4 years away.

But good luck to all buyers…[/quote]

I don’t see anyone calling a bottom here. It’s just that sometimes the last 10%-20% isn’t worth waiting for if there are non-financial considerations and the price available today isn’t eggregious.[/quote]

Yes, but my point is prices could drop, easily, another 30-50% before we hit bottom in 2012…

[Mark Holmes]

[quote=davelj][quote=Mark Holmes]It’s just amazing to me that anyone who is somewhat informed would be calling a bottom now. It would fly in the face of all statistical, historical and common sense evidence. The real estate boom that just ended, the biggest in San Diego history, will be followed by a bust of commensurate size and duration. Every boom was and is followed by one.

An 85-year-old, wealthy, lifelong San Diegan told me at the peak of the market that the time to buy would be when everyone knows it is a terrible time to buy.

My guess is that sentiment is still 2-4 years away.

But good luck to all buyers…[/quote]

I don’t see anyone calling a bottom here. It’s just that sometimes the last 10%-20% isn’t worth waiting for if there are non-financial considerations and the price available today isn’t eggregious.[/quote]

Yes, but my point is prices could drop, easily, another 30-50% before we hit bottom in 2012…

[Mark Holmes]

[quote=davelj][quote=Mark Holmes]It’s just amazing to me that anyone who is somewhat informed would be calling a bottom now. It would fly in the face of all statistical, historical and common sense evidence. The real estate boom that just ended, the biggest in San Diego history, will be followed by a bust of commensurate size and duration. Every boom was and is followed by one.

An 85-year-old, wealthy, lifelong San Diegan told me at the peak of the market that the time to buy would be when everyone knows it is a terrible time to buy.

My guess is that sentiment is still 2-4 years away.

But good luck to all buyers…[/quote]

I don’t see anyone calling a bottom here. It’s just that sometimes the last 10%-20% isn’t worth waiting for if there are non-financial considerations and the price available today isn’t eggregious.[/quote]

Yes, but my point is prices could drop, easily, another 30-50% before we hit bottom in 2012…

[Mark Holmes]

[quote=davelj][quote=Mark Holmes]It’s just amazing to me that anyone who is somewhat informed would be calling a bottom now. It would fly in the face of all statistical, historical and common sense evidence. The real estate boom that just ended, the biggest in San Diego history, will be followed by a bust of commensurate size and duration. Every boom was and is followed by one.

An 85-year-old, wealthy, lifelong San Diegan told me at the peak of the market that the time to buy would be when everyone knows it is a terrible time to buy.

My guess is that sentiment is still 2-4 years away.

But good luck to all buyers…[/quote]

I don’t see anyone calling a bottom here. It’s just that sometimes the last 10%-20% isn’t worth waiting for if there are non-financial considerations and the price available today isn’t eggregious.[/quote]

Yes, but my point is prices could drop, easily, another 30-50% before we hit bottom in 2012…

[Mark Holmes]

[quote=davelj][quote=Mark Holmes]It’s just amazing to me that anyone who is somewhat informed would be calling a bottom now. It would fly in the face of all statistical, historical and common sense evidence. The real estate boom that just ended, the biggest in San Diego history, will be followed by a bust of commensurate size and duration. Every boom was and is followed by one.

An 85-year-old, wealthy, lifelong San Diegan told me at the peak of the market that the time to buy would be when everyone knows it is a terrible time to buy.

My guess is that sentiment is still 2-4 years away.

But good luck to all buyers…[/quote]

I don’t see anyone calling a bottom here. It’s just that sometimes the last 10%-20% isn’t worth waiting for if there are non-financial considerations and the price available today isn’t eggregious.[/quote]

Yes, but my point is prices could drop, easily, another 30-50% before we hit bottom in 2012…

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