[New_Renter]

I would think that more realtors than ever are thinking VERY short-term right now. It is a fight for survival because transaction volumes are nowhere close to supporting the number of realtors out there trying to make a living. If they don’t make some sales NOW, they’re probably thinking they might not even be around 2 years from now when prices may or may not be 30% below where they are now (for the record, I believe they will be).

The smart ones are getting creative and selective, like specializing in foreclosures, or only taking on clients that are realistic about their selling price, etc.

You make a good point, though, any realtor worth their salt and with a longer-term perspective would have responded in a manner similar to what you indicated in your last post.

[New_Renter]

I would think that more realtors than ever are thinking VERY short-term right now. It is a fight for survival because transaction volumes are nowhere close to supporting the number of realtors out there trying to make a living. If they don’t make some sales NOW, they’re probably thinking they might not even be around 2 years from now when prices may or may not be 30% below where they are now (for the record, I believe they will be).

The smart ones are getting creative and selective, like specializing in foreclosures, or only taking on clients that are realistic about their selling price, etc.

You make a good point, though, any realtor worth their salt and with a longer-term perspective would have responded in a manner similar to what you indicated in your last post.

[New_Renter]

I would think that more realtors than ever are thinking VERY short-term right now. It is a fight for survival because transaction volumes are nowhere close to supporting the number of realtors out there trying to make a living. If they don’t make some sales NOW, they’re probably thinking they might not even be around 2 years from now when prices may or may not be 30% below where they are now (for the record, I believe they will be).

The smart ones are getting creative and selective, like specializing in foreclosures, or only taking on clients that are realistic about their selling price, etc.

You make a good point, though, any realtor worth their salt and with a longer-term perspective would have responded in a manner similar to what you indicated in your last post.

[New_Renter]

I would think that more realtors than ever are thinking VERY short-term right now. It is a fight for survival because transaction volumes are nowhere close to supporting the number of realtors out there trying to make a living. If they don’t make some sales NOW, they’re probably thinking they might not even be around 2 years from now when prices may or may not be 30% below where they are now (for the record, I believe they will be).

The smart ones are getting creative and selective, like specializing in foreclosures, or only taking on clients that are realistic about their selling price, etc.

You make a good point, though, any realtor worth their salt and with a longer-term perspective would have responded in a manner similar to what you indicated in your last post.

[New_Renter]

I would think that more realtors than ever are thinking VERY short-term right now. It is a fight for survival because transaction volumes are nowhere close to supporting the number of realtors out there trying to make a living. If they don’t make some sales NOW, they’re probably thinking they might not even be around 2 years from now when prices may or may not be 30% below where they are now (for the record, I believe they will be).

The smart ones are getting creative and selective, like specializing in foreclosures, or only taking on clients that are realistic about their selling price, etc.

You make a good point, though, any realtor worth their salt and with a longer-term perspective would have responded in a manner similar to what you indicated in your last post.

[New_Renter]

No, the tone has not shifted. RE continues to deteriorate in CV; inventory continues to climb, NOD’s continue to climb, seller price reductions continue…This Pigg, at least, is not pulling the trigger yet in CV. Late summer and into Fall, things will start to get more interesting, but 2009 may be best.

[New_Renter]

No, the tone has not shifted. RE continues to deteriorate in CV; inventory continues to climb, NOD’s continue to climb, seller price reductions continue…This Pigg, at least, is not pulling the trigger yet in CV. Late summer and into Fall, things will start to get more interesting, but 2009 may be best.

[New_Renter]

No, the tone has not shifted. RE continues to deteriorate in CV; inventory continues to climb, NOD’s continue to climb, seller price reductions continue…This Pigg, at least, is not pulling the trigger yet in CV. Late summer and into Fall, things will start to get more interesting, but 2009 may be best.

[New_Renter]

No, the tone has not shifted. RE continues to deteriorate in CV; inventory continues to climb, NOD’s continue to climb, seller price reductions continue…This Pigg, at least, is not pulling the trigger yet in CV. Late summer and into Fall, things will start to get more interesting, but 2009 may be best.

[New_Renter]

No, the tone has not shifted. RE continues to deteriorate in CV; inventory continues to climb, NOD’s continue to climb, seller price reductions continue…This Pigg, at least, is not pulling the trigger yet in CV. Late summer and into Fall, things will start to get more interesting, but 2009 may be best.

[New_Renter]

Bugs, it’s good to hear your input on this (I respect your opinion as much as RT himself!). I never claimed that these growing CV foreclosures were causing any price action…yet. It is helpful to hear your observation that the 25% to 30% level of total sales is the trigger point for foreclosures driving the pricing. All I’m really saying is that this increasing number of NOD’s in the prime areas of CV does not bode well for this “Sacred Cow.” At the high-end, seller behaviour indicates many are still in “la la land”. I’m in the fortunate position of being able to buy anywhere and at anytime I choose in CV, but all the data is telling me the next 12-24 months won’t be pretty, so renting still feels good for the time being. I really appreciate (as we all do) the inputs on this blog from everyone, including sdrealtor, SD Realtor, asianautica, raptorduck, yourself, and all the others.

[New_Renter]

Bugs, it’s good to hear your input on this (I respect your opinion as much as RT himself!). I never claimed that these growing CV foreclosures were causing any price action…yet. It is helpful to hear your observation that the 25% to 30% level of total sales is the trigger point for foreclosures driving the pricing. All I’m really saying is that this increasing number of NOD’s in the prime areas of CV does not bode well for this “Sacred Cow.” At the high-end, seller behaviour indicates many are still in “la la land”. I’m in the fortunate position of being able to buy anywhere and at anytime I choose in CV, but all the data is telling me the next 12-24 months won’t be pretty, so renting still feels good for the time being. I really appreciate (as we all do) the inputs on this blog from everyone, including sdrealtor, SD Realtor, asianautica, raptorduck, yourself, and all the others.

[New_Renter]

Bugs, it’s good to hear your input on this (I respect your opinion as much as RT himself!). I never claimed that these growing CV foreclosures were causing any price action…yet. It is helpful to hear your observation that the 25% to 30% level of total sales is the trigger point for foreclosures driving the pricing. All I’m really saying is that this increasing number of NOD’s in the prime areas of CV does not bode well for this “Sacred Cow.” At the high-end, seller behaviour indicates many are still in “la la land”. I’m in the fortunate position of being able to buy anywhere and at anytime I choose in CV, but all the data is telling me the next 12-24 months won’t be pretty, so renting still feels good for the time being. I really appreciate (as we all do) the inputs on this blog from everyone, including sdrealtor, SD Realtor, asianautica, raptorduck, yourself, and all the others.

[New_Renter]

Bugs, it’s good to hear your input on this (I respect your opinion as much as RT himself!). I never claimed that these growing CV foreclosures were causing any price action…yet. It is helpful to hear your observation that the 25% to 30% level of total sales is the trigger point for foreclosures driving the pricing. All I’m really saying is that this increasing number of NOD’s in the prime areas of CV does not bode well for this “Sacred Cow.” At the high-end, seller behaviour indicates many are still in “la la land”. I’m in the fortunate position of being able to buy anywhere and at anytime I choose in CV, but all the data is telling me the next 12-24 months won’t be pretty, so renting still feels good for the time being. I really appreciate (as we all do) the inputs on this blog from everyone, including sdrealtor, SD Realtor, asianautica, raptorduck, yourself, and all the others.

[New_Renter]

Bugs, it’s good to hear your input on this (I respect your opinion as much as RT himself!). I never claimed that these growing CV foreclosures were causing any price action…yet. It is helpful to hear your observation that the 25% to 30% level of total sales is the trigger point for foreclosures driving the pricing. All I’m really saying is that this increasing number of NOD’s in the prime areas of CV does not bode well for this “Sacred Cow.” At the high-end, seller behaviour indicates many are still in “la la land”. I’m in the fortunate position of being able to buy anywhere and at anytime I choose in CV, but all the data is telling me the next 12-24 months won’t be pretty, so renting still feels good for the time being. I really appreciate (as we all do) the inputs on this blog from everyone, including sdrealtor, SD Realtor, asianautica, raptorduck, yourself, and all the others.

[Author]

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