[ocrenter]

this never was about realtor bashing. when I bash realtors I make sure to pull the capitalized and trademarked “REALTOR®.” and sdr and SDR have contributed way too much to ever deserve that.

I do echo the call for patience. just sit back for a moment and think about this. When in history have we seen homes drop $200-$300k just in a year? I remember my folks being unhappy when their equity in WestLA dropped by $30k from peak to valley from ’89 to ’96. good grief, they are STILL talking about it like it was yesterday. And now we see drops of $200k in a single year and people are throwing out quotes about how certain predictions weren’t met (in reference to the 4S REO).

[ocrenter]

this never was about realtor bashing. when I bash realtors I make sure to pull the capitalized and trademarked “REALTOR®.” and sdr and SDR have contributed way too much to ever deserve that.

I do echo the call for patience. just sit back for a moment and think about this. When in history have we seen homes drop $200-$300k just in a year? I remember my folks being unhappy when their equity in WestLA dropped by $30k from peak to valley from ’89 to ’96. good grief, they are STILL talking about it like it was yesterday. And now we see drops of $200k in a single year and people are throwing out quotes about how certain predictions weren’t met (in reference to the 4S REO).

[ocrenter]

this never was about realtor bashing. when I bash realtors I make sure to pull the capitalized and trademarked “REALTOR®.” and sdr and SDR have contributed way too much to ever deserve that.

I do echo the call for patience. just sit back for a moment and think about this. When in history have we seen homes drop $200-$300k just in a year? I remember my folks being unhappy when their equity in WestLA dropped by $30k from peak to valley from ’89 to ’96. good grief, they are STILL talking about it like it was yesterday. And now we see drops of $200k in a single year and people are throwing out quotes about how certain predictions weren’t met (in reference to the 4S REO).

[ocrenter]

sdr, thanks for the anonymous leads, perhaps pick a handle so credit is given.

I only focus on this because you are so absolute about this. Look, if there are 3700 sqft REOs in the general area going for $600k, and 4300 sqft homes dropping down to the low 800k, low $400k for these homes as the current market value is not unreasonable. while these are short sales, the fact that they have to keep dropping on their asking price to me indicates where the market truly is.

everywhere around this development has seen 20-30% drops in prices over the last year. low $400k would be in-line with that drop.

[ocrenter]

sdr, thanks for the anonymous leads, perhaps pick a handle so credit is given.

I only focus on this because you are so absolute about this. Look, if there are 3700 sqft REOs in the general area going for $600k, and 4300 sqft homes dropping down to the low 800k, low $400k for these homes as the current market value is not unreasonable. while these are short sales, the fact that they have to keep dropping on their asking price to me indicates where the market truly is.

everywhere around this development has seen 20-30% drops in prices over the last year. low $400k would be in-line with that drop.

[ocrenter]

sdr, thanks for the anonymous leads, perhaps pick a handle so credit is given.

I only focus on this because you are so absolute about this. Look, if there are 3700 sqft REOs in the general area going for $600k, and 4300 sqft homes dropping down to the low 800k, low $400k for these homes as the current market value is not unreasonable. while these are short sales, the fact that they have to keep dropping on their asking price to me indicates where the market truly is.

everywhere around this development has seen 20-30% drops in prices over the last year. low $400k would be in-line with that drop.

[ocrenter]

sdr, thanks for the anonymous leads, perhaps pick a handle so credit is given.

I only focus on this because you are so absolute about this. Look, if there are 3700 sqft REOs in the general area going for $600k, and 4300 sqft homes dropping down to the low 800k, low $400k for these homes as the current market value is not unreasonable. while these are short sales, the fact that they have to keep dropping on their asking price to me indicates where the market truly is.

everywhere around this development has seen 20-30% drops in prices over the last year. low $400k would be in-line with that drop.

[ocrenter]

sdr, thanks for the anonymous leads, perhaps pick a handle so credit is given.

I only focus on this because you are so absolute about this. Look, if there are 3700 sqft REOs in the general area going for $600k, and 4300 sqft homes dropping down to the low 800k, low $400k for these homes as the current market value is not unreasonable. while these are short sales, the fact that they have to keep dropping on their asking price to me indicates where the market truly is.

everywhere around this development has seen 20-30% drops in prices over the last year. low $400k would be in-line with that drop.

[ocrenter]

for the record, sdrealtor is the realtor in question. SD Realtor has been very supportive of the bear position.

as for those Blueridge estate homes, good grief!

797 JOY CT, San Marcos, CA 92078 (4243 sqft)
–10/31/2006: sold for $1,185,000
–11/19/2007: offered for $824,000 ($361k off, 30% drop in 1 year)

795 JOY COURT, San Marcos, CA 92078 (4226 sqft)
–09/27/2006: sold for $1,095,000
–11/14/2007: offered for $839,900 ($255k off, 23% drop in a little over 1 year)

that’s two foreclosures side by side. meanwhile a homeowner just down the street is entertaining offers between $895,000 – $925,000… looks like it’ll be three REOs on the street in due time.

[ocrenter]

for the record, sdrealtor is the realtor in question. SD Realtor has been very supportive of the bear position.

as for those Blueridge estate homes, good grief!

797 JOY CT, San Marcos, CA 92078 (4243 sqft)
–10/31/2006: sold for $1,185,000
–11/19/2007: offered for $824,000 ($361k off, 30% drop in 1 year)

795 JOY COURT, San Marcos, CA 92078 (4226 sqft)
–09/27/2006: sold for $1,095,000
–11/14/2007: offered for $839,900 ($255k off, 23% drop in a little over 1 year)

that’s two foreclosures side by side. meanwhile a homeowner just down the street is entertaining offers between $895,000 – $925,000… looks like it’ll be three REOs on the street in due time.

[ocrenter]

for the record, sdrealtor is the realtor in question. SD Realtor has been very supportive of the bear position.

as for those Blueridge estate homes, good grief!

797 JOY CT, San Marcos, CA 92078 (4243 sqft)
–10/31/2006: sold for $1,185,000
–11/19/2007: offered for $824,000 ($361k off, 30% drop in 1 year)

795 JOY COURT, San Marcos, CA 92078 (4226 sqft)
–09/27/2006: sold for $1,095,000
–11/14/2007: offered for $839,900 ($255k off, 23% drop in a little over 1 year)

that’s two foreclosures side by side. meanwhile a homeowner just down the street is entertaining offers between $895,000 – $925,000… looks like it’ll be three REOs on the street in due time.

[ocrenter]

for the record, sdrealtor is the realtor in question. SD Realtor has been very supportive of the bear position.

as for those Blueridge estate homes, good grief!

797 JOY CT, San Marcos, CA 92078 (4243 sqft)
–10/31/2006: sold for $1,185,000
–11/19/2007: offered for $824,000 ($361k off, 30% drop in 1 year)

795 JOY COURT, San Marcos, CA 92078 (4226 sqft)
–09/27/2006: sold for $1,095,000
–11/14/2007: offered for $839,900 ($255k off, 23% drop in a little over 1 year)

that’s two foreclosures side by side. meanwhile a homeowner just down the street is entertaining offers between $895,000 – $925,000… looks like it’ll be three REOs on the street in due time.

[ocrenter]

for the record, sdrealtor is the realtor in question. SD Realtor has been very supportive of the bear position.

as for those Blueridge estate homes, good grief!

797 JOY CT, San Marcos, CA 92078 (4243 sqft)
–10/31/2006: sold for $1,185,000
–11/19/2007: offered for $824,000 ($361k off, 30% drop in 1 year)

795 JOY COURT, San Marcos, CA 92078 (4226 sqft)
–09/27/2006: sold for $1,095,000
–11/14/2007: offered for $839,900 ($255k off, 23% drop in a little over 1 year)

that’s two foreclosures side by side. meanwhile a homeowner just down the street is entertaining offers between $895,000 – $925,000… looks like it’ll be three REOs on the street in due time.

[ocrenter]

“Those looking for a dramtaic crash to 500K have been sadly disappointed.” sdrealtor, 6/06

“San Marcos currently has a 1 year supply of homes for sale, now we got 4 foreclosures in one single community. I’m now looking at these properties going down into low $400,000’s mid to late next year.” ocrenter 8/06

“You can believe what you want but there is no way you will see the 2300 sq ft model that was the basis of this thread from the outset sell at a price close to the low 400’s. End of story.” sdrealtor, 11/07

491 CAMINO VERDE, San Marcos, CA 92078 (1909 sqft)
–11/19/07: asking $396,000

584 VIA DEL CABALLO, San Marcos, CA 92078 (2259 sqft)
–11/21/07: asking $430,000

the story has just begun.

[ocrenter]

“Those looking for a dramtaic crash to 500K have been sadly disappointed.” sdrealtor, 6/06

“San Marcos currently has a 1 year supply of homes for sale, now we got 4 foreclosures in one single community. I’m now looking at these properties going down into low $400,000’s mid to late next year.” ocrenter 8/06

“You can believe what you want but there is no way you will see the 2300 sq ft model that was the basis of this thread from the outset sell at a price close to the low 400’s. End of story.” sdrealtor, 11/07

491 CAMINO VERDE, San Marcos, CA 92078 (1909 sqft)
–11/19/07: asking $396,000

584 VIA DEL CABALLO, San Marcos, CA 92078 (2259 sqft)
–11/21/07: asking $430,000

the story has just begun.

[Author]

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