[ocrenter]

the reason a lot of these folks got in and are able to make do with the payments is because of the low teaser rate of 1-3% in the first year. after the teaser rate expires and rate goes up to the 5% ARM, they can’t afford it. and if they manage to survive past the 3 years of fixed rate, do you really think the rate will still be at 5%?

[ocrenter]

the flipper range priced it for $565,000 to $598,000. yet when it came to describing the single offer they had, she said the $565,000 offer was a “low ball”. looks like sellers are still aiming for the top figure on the range despite the falling market or their own dire situation.

[ocrenter]

the myth of a housing shortage is best explained by UCLA’s Thornberg when he said: the shortage is in low income affortable housing for the poor. Then he asked this question to the developers: how many of you are willing to build cheap affordable housing for the low income? None, because the profit margin isn’t there. So there’s a glut of McMansions, and not enough folks that can afford them to buy. The end result is decrease in prices.

[ocrenter]

all poway is saying is what her friend “claim” is going on. Plus others asked her to update on this friend. Why are you picking on her?

[ocrenter]

that 20 year experience is valued. given that. tell us about how things are different now vs. 1990 and how things are the same.

one big difference I see is how did we get to historic high in inventory in 2 years (top of market being in 2004) this time around yet last time it took 5 years to get to the last inventory peak in 1995.

as an appraiser, how is the heavy discount new home builders are offering affecting the resale SFR?

[ocrenter]

a clerk at work is bettering herself by studying to become a loan broker.

a client told me he is currently studying to become a Realtor and a broker because his brother/sister in laws are doing really well.

both are within the past month.

apparently neither one got the memo.

[ocrenter]

this is the e-mail I submitted this AM.

“We are seeing an increase of inventories to normal levels, but it has dramatically changed the psychology of the market,” said Leslie Appleton-Young, chief economist for the California Association of Realtors. “Buyers have more properties to look at, more time to decide.

Mr. Pierce, I’m responding to this outragious lie that was printed in your article today in the Union Tribune. Normally I don’t write to the newspaper, but I am furious to see such blatant lie taken as truth. Inventory of homes are anything BUT normal levels. Inventory of homes are at the highest point ever in San Diego County history. I run a blog named Bubble Market Inventory Tracking and using ziprealty.com’s data, we already passed the historic population adjusted height back in June this year. How can record high in inventory be “normal levels” as quoted by Ms. Appleton-Young???

Link

I have the data to back up what I’m saying. Ms. Appleton-Young just lies about it. You can’t continue to print this kind of trash in your paper and stay reputable. Next time you quote her, please, please ask her why would she describe “record high” inventory as “normal levels?”

Sincerely yours,

[ocrenter]

check out the foreclosure stats, Notice of Defaults are up 64% this year, but much worse than that is that the total Trustee’s sales this year is up 232% compared to last year. This fits with the $2 trillion mortgage reset everyone has been talking about for 2006-2007.

and yes, the inventory #’s on my blog.

a lot of high income folks are also waiting the bubble out despite the hit on the tax deduction. I know one physician couple with income over $300,000 combined that’s waiting it out in a leased home.

[ocrenter]

poway, I hear you. I feel your pain, and he definately is a pain. But anyhow.

We been looking at boh RB and San Marcos, and RB looks like it’s about $100,000 higher than San Marcos. And Carlsbad USD is also about $100,000 higher than Rancho Carillo and San Elijo Hills. So I suppose that’s the education premium.

[ocrenter]

A big factor in API scores is the demographics. The API scores are available by ethnicity and what you frequently find is the middle class caucasian/asian kids scores are very similar from school to school. When you have hispanic kids growing up in homes that english is the second language you will naturally see lower API scores for them that will pull down the schools average. Thus High API scores is often as much a factor of a lack of diversity as anything else.

oh no you don’t. there’s no thread skimming here. You stated that growing up in homes where english is the 2nd language “naturally” will see kids with lower API schore. There was no implied or direct comment that you are using this as a surrogate data point.

stick to the facts, guy. you jumped the gun and called people names first. that fits with your reputation here. enuff said.

[ocrenter]

Sure you might have come from a non-english speaking household, but did you come from a household where your parents did not have a 3rd grade education?

of course not. that’s why I stated it is all about socioeconomic circumstances, not whether English is spoken at home or not. Schools in Diamond Bar and Rowland Heights consistantly score very high despite drawing from mostly recent Asian immigrants.

I know you agree this really just comes down to socioeconomic factors and really, English spoken at home or not really doesn’t play into it that much. You just don’t like to admit you are wrong with that initial comment. Nor do you like to admit that getting hotheaded and start calling folks names is just childish.

why don’t you just appologize and we can all move on.

[ocrenter]

This is the comment I was responding to:
“When you have hispanic kids growing up in homes that english is the second language you will naturally see lower API scores for them that will pull down the schools average.”

you’re the one making the racial comment first. What is really the point is socioeconomic status and emphasis in education are the main reason for the difference in API scores. Not whether the children grew up in a home that speaks English or not. That is what you said. Go read your own quote!!

As an Asian American, I’m really sick of guys like you using the “they grew up in a non-English speaking household” argument to defend the Hispanics that have been here for 20 years and still speak no English. When at the same time most Asians grew up also in non-English speaking homes and end up being high income professionals.

It has always been a socioeconomic difference. You obviously made a completely stupid and idiotic statement. Instead of admitting your mistake, you then call people names when they call you out on it? who’s the real @$$ho!e here?

[ocrenter]

When you have hispanic kids growing up in homes that english is the second language you will naturally see lower API scores for them that will pull down the schools average.

hmmm… that’s right. the first language of Asian kids are English. Right…

Asian kids’ first languages generally are languages completely foreign to English. Hispanics should have an advantage over Asian kids given they come from a language based on very similar alphabets and a lot of overlaping vocabs.

[ocrenter]

I think Lennar will be able to escape Bressi just fine. They are willing to cut the prices and they are far enough along with the project that I think they may make the November exit deadline they set for themselves.

The homeowners? be prepared to stay there for at least 10 years. Hopefully they will find small aircrafts fun to watch and listen too. Otherwise, it really isn’t a bad place to live.

[ocrenter]

they got a real bad deal going for the future homeowners there.

there’s the mello roos as explained above.

there’s also a social tax. taken at the time of purchase, that goes into a social fund that will pay for hiking trips, BBQ’s, and varioius clubs they want the owners to join. In essence, kinda like a fee charged to join a frat back in college.

the HOA jumps by $150 from now to built-out. why? because at built-out, the Ranch House that the builder is using will be sold back to the HOA. So each and every homeowner will forever pay $150 extra per month for a Ranch House the builder’s sales staff got to enjoy brand new.

Does anyone know when they will actually open the connection between Camino Del Sur and Camino Del Norte?

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