[NotCranky]

“but what impact (if any) do you think this will have on the correction in our market? Slightly slower decline?”

JC not a stupid question.

It is always true in RE that the top 10% of realtors do a very disproportionately high amount of the sales. In this market those that are getting all the listings for REO are doing relativly well. The market on the other hand, is not. These “investors” are not affecting the volume side of things enough to really sway the market.
Sales are dismal regardless of who the few buyers are. Also the fact that the current buyers are looking for “bargains” bodes poorly for sellers in and of it self.

Hope that answers your question.

[NotCranky]

“but what impact (if any) do you think this will have on the correction in our market? Slightly slower decline?”

JC not a stupid question.

It is always true in RE that the top 10% of realtors do a very disproportionately high amount of the sales. In this market those that are getting all the listings for REO are doing relativly well. The market on the other hand, is not. These “investors” are not affecting the volume side of things enough to really sway the market.
Sales are dismal regardless of who the few buyers are. Also the fact that the current buyers are looking for “bargains” bodes poorly for sellers in and of it self.

Hope that answers your question.

[NotCranky]

FLU
Since when do you have to have a million(or 3) liquid or otherwise to be o.k. before during or after a recession or even a depression? Sounds like a desperate way to live and look at things in my book.

I know that I am in a positon to help others ,no matter what comes down. I know others are in my corner too. That will do it.

[NotCranky]

FLU
Since when do you have to have a million(or 3) liquid or otherwise to be o.k. before during or after a recession or even a depression? Sounds like a desperate way to live and look at things in my book.

I know that I am in a positon to help others ,no matter what comes down. I know others are in my corner too. That will do it.

[NotCranky]

FLU
Since when do you have to have a million(or 3) liquid or otherwise to be o.k. before during or after a recession or even a depression? Sounds like a desperate way to live and look at things in my book.

I know that I am in a positon to help others ,no matter what comes down. I know others are in my corner too. That will do it.

[NotCranky]

Hi Allan,

I enjoy reading your bearish statements and those that others bring as well.JWM has been saying for as long as I can recall “why don’t people get this?” I think I was using the term “chicken little” for the really “negative” types at that point even though I was one of the most bearish ,especially for of the RE licensees. My apologies JWM(if you are reading).

My guess, many people still think it is about “me”. My house value, my chance to time the market ect. ect. Something about forests and trees. I don’t understand the level of intellectual investment in the thought that this is going to be a rational correction and will go according to some schedule. I am not talking about people in the street either. Some decent percentage of people on the bearish blogs seem to think this way too. That seems to be changing to though,. Maybe we are just tracking the normal change in pyschology through a cycle? IMHO it is way too early to take it for granted that anything close to normal is going to mark the course of things to come. I definitely don’t think we will have an instant replay of the last bust. That would be nice though.

I wonder if there is still a lot of custom building going on around your area. It appears the pace is pretty good here in Jamul. If you recall I told you once that Fallbrook and Jamul have similiarites. My wife asks me to explain all the building in light of the doom and gloom. I told her that I think it is a mixture of the last credit bingers and folks that do things the “sustainable” way, on land they have owned for a long while. Not sure though.
Good job on the football coaching.
Best wishes

[NotCranky]

Hi Allan,

I enjoy reading your bearish statements and those that others bring as well.JWM has been saying for as long as I can recall “why don’t people get this?” I think I was using the term “chicken little” for the really “negative” types at that point even though I was one of the most bearish ,especially for of the RE licensees. My apologies JWM(if you are reading).

My guess, many people still think it is about “me”. My house value, my chance to time the market ect. ect. Something about forests and trees. I don’t understand the level of intellectual investment in the thought that this is going to be a rational correction and will go according to some schedule. I am not talking about people in the street either. Some decent percentage of people on the bearish blogs seem to think this way too. That seems to be changing to though,. Maybe we are just tracking the normal change in pyschology through a cycle? IMHO it is way too early to take it for granted that anything close to normal is going to mark the course of things to come. I definitely don’t think we will have an instant replay of the last bust. That would be nice though.

I wonder if there is still a lot of custom building going on around your area. It appears the pace is pretty good here in Jamul. If you recall I told you once that Fallbrook and Jamul have similiarites. My wife asks me to explain all the building in light of the doom and gloom. I told her that I think it is a mixture of the last credit bingers and folks that do things the “sustainable” way, on land they have owned for a long while. Not sure though.
Good job on the football coaching.
Best wishes

[NotCranky]

Hi Allan,

I enjoy reading your bearish statements and those that others bring as well.JWM has been saying for as long as I can recall “why don’t people get this?” I think I was using the term “chicken little” for the really “negative” types at that point even though I was one of the most bearish ,especially for of the RE licensees. My apologies JWM(if you are reading).

My guess, many people still think it is about “me”. My house value, my chance to time the market ect. ect. Something about forests and trees. I don’t understand the level of intellectual investment in the thought that this is going to be a rational correction and will go according to some schedule. I am not talking about people in the street either. Some decent percentage of people on the bearish blogs seem to think this way too. That seems to be changing to though,. Maybe we are just tracking the normal change in pyschology through a cycle? IMHO it is way too early to take it for granted that anything close to normal is going to mark the course of things to come. I definitely don’t think we will have an instant replay of the last bust. That would be nice though.

I wonder if there is still a lot of custom building going on around your area. It appears the pace is pretty good here in Jamul. If you recall I told you once that Fallbrook and Jamul have similiarites. My wife asks me to explain all the building in light of the doom and gloom. I told her that I think it is a mixture of the last credit bingers and folks that do things the “sustainable” way, on land they have owned for a long while. Not sure though.
Good job on the football coaching.
Best wishes

[NotCranky]

Buyer,
This is a very good sign. Although they are still trying to emphasize how there are no significant price declines, and “There are no firesales out there.”

I saw that differently. I thought the “foreclosure specialist” was being honest and saying,look these foreclosure deals are nothing to get excited about if you want to get in on the action. If she did mean that it would be true, as you well know.

[NotCranky]

Buyer,
This is a very good sign. Although they are still trying to emphasize how there are no significant price declines, and “There are no firesales out there.”

I saw that differently. I thought the “foreclosure specialist” was being honest and saying,look these foreclosure deals are nothing to get excited about if you want to get in on the action. If she did mean that it would be true, as you well know.

[NotCranky]

I’m reading some of your posts this morning Bugs. You are really expressing your points well and they are good strong points, as always.

I look at all this sweat equity, granite & hardwood as near freebies for future Piggington buyers. I just hope the improved stock doesn’t get too abused by vandals and destructive renters before it is time to buy.

EDIT , OOPs should have posted on the UT foreclosure thread.

[NotCranky]

I’m reading some of your posts this morning Bugs. You are really expressing your points well and they are good strong points, as always.

I look at all this sweat equity, granite & hardwood as near freebies for future Piggington buyers. I just hope the improved stock doesn’t get too abused by vandals and destructive renters before it is time to buy.

EDIT , OOPs should have posted on the UT foreclosure thread.

[NotCranky]

thats funny,
Wish I didn’t know that was a well drilling rig. Even in good times it is not unusual for lots like this to sit on the market for a year. Somebody purchased this lot and got started on a project and has changed their mind. That is what it usually is anyway when you see infrastructure started and permits have already been pulled. Maybe they didn’t get water? Maybe it doesn’t look like a good idea anymore or the mom and dad of the rug rat had a falling out over the project. Stuff like that happpens all the time.
It looks pretty nice to me.

[NotCranky]

thats funny,
Wish I didn’t know that was a well drilling rig. Even in good times it is not unusual for lots like this to sit on the market for a year. Somebody purchased this lot and got started on a project and has changed their mind. That is what it usually is anyway when you see infrastructure started and permits have already been pulled. Maybe they didn’t get water? Maybe it doesn’t look like a good idea anymore or the mom and dad of the rug rat had a falling out over the project. Stuff like that happpens all the time.
It looks pretty nice to me.

[NotCranky]

Goodnight everybody, sleep tight , don’t let the home loans bite.

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