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December 20, 2007 at 11:13 PM in reply to: The often asked question, when will housing bottom? #122045December 20, 2007 at 11:13 PM in reply to: The often asked question, when will housing bottom? #122099
paramount
ParticipantI have been hearing in the mainstream media (this week) that mid 2008 should be the bottom of the market – but that could just be NAR marketing disguised as news.
One thing that has to be considered is population growth, which in Southern California still seems explosive.
I think the 2008 prediction is based on the lower number of foreclosures forecast (by some, Ex.: Jerry Siegel) in 2008.
I agree with a previous poster – downturns on average last around 36 months or so (based on what I have read).
My personal time line:
End of 2006: Start seeing weakness in the market
2007: Prices decline significantly
2008: Repeat of 2007
2009: Repeat of 2008Sometime during 2010 prices stabilize
Total Price Decline: I would say around 30% from the peak on average.
So, if you had a house that was worth 400k at the peak, I would look for that same house to decline to ~280k.
Following that, I would look for an average of 3% in year-over-year appreciation.
December 20, 2007 at 11:13 PM in reply to: The often asked question, when will housing bottom? #122122ParticipantI have been hearing in the mainstream media (this week) that mid 2008 should be the bottom of the market – but that could just be NAR marketing disguised as news.
One thing that has to be considered is population growth, which in Southern California still seems explosive.
I think the 2008 prediction is based on the lower number of foreclosures forecast (by some, Ex.: Jerry Siegel) in 2008.
I agree with a previous poster – downturns on average last around 36 months or so (based on what I have read).
My personal time line:
End of 2006: Start seeing weakness in the market
2007: Prices decline significantly
2008: Repeat of 2007
2009: Repeat of 2008Sometime during 2010 prices stabilize
Total Price Decline: I would say around 30% from the peak on average.
So, if you had a house that was worth 400k at the peak, I would look for that same house to decline to ~280k.
Following that, I would look for an average of 3% in year-over-year appreciation.
ParticipantMarion – your a ninny…
ParticipantMarion – your a ninny…
ParticipantMarion – your a ninny…
ParticipantMarion – your a ninny…
ParticipantMarion – your a ninny…
December 15, 2007 at 6:33 PM in reply to: By spot to live that isn’t more than 20 minutes from downtown… #117824ParticipantHi – I’m looking for the best neighborhood to buy in within 20 minutes of downtown San Diego. I have a million dollars to spend, I have a 0 DTI, I have never missed a bill, I have a 850 credit rating, I am a perfect specimen.
Who believes this crap? 99.99999% of all people who have a million dollars to spend on a house in SD know the area.
I’m starting to think this board is more about living a fantasy than anything else.
Oh, and this person is that .000001%, sure…
December 15, 2007 at 6:33 PM in reply to: By spot to live that isn’t more than 20 minutes from downtown… #117955ParticipantHi – I’m looking for the best neighborhood to buy in within 20 minutes of downtown San Diego. I have a million dollars to spend, I have a 0 DTI, I have never missed a bill, I have a 850 credit rating, I am a perfect specimen.
Who believes this crap? 99.99999% of all people who have a million dollars to spend on a house in SD know the area.
I’m starting to think this board is more about living a fantasy than anything else.
Oh, and this person is that .000001%, sure…
December 15, 2007 at 6:33 PM in reply to: By spot to live that isn’t more than 20 minutes from downtown… #117988ParticipantHi – I’m looking for the best neighborhood to buy in within 20 minutes of downtown San Diego. I have a million dollars to spend, I have a 0 DTI, I have never missed a bill, I have a 850 credit rating, I am a perfect specimen.
Who believes this crap? 99.99999% of all people who have a million dollars to spend on a house in SD know the area.
I’m starting to think this board is more about living a fantasy than anything else.
Oh, and this person is that .000001%, sure…
December 15, 2007 at 6:33 PM in reply to: By spot to live that isn’t more than 20 minutes from downtown… #118027ParticipantHi – I’m looking for the best neighborhood to buy in within 20 minutes of downtown San Diego. I have a million dollars to spend, I have a 0 DTI, I have never missed a bill, I have a 850 credit rating, I am a perfect specimen.
Who believes this crap? 99.99999% of all people who have a million dollars to spend on a house in SD know the area.
I’m starting to think this board is more about living a fantasy than anything else.
Oh, and this person is that .000001%, sure…
December 15, 2007 at 6:33 PM in reply to: By spot to live that isn’t more than 20 minutes from downtown… #118049ParticipantHi – I’m looking for the best neighborhood to buy in within 20 minutes of downtown San Diego. I have a million dollars to spend, I have a 0 DTI, I have never missed a bill, I have a 850 credit rating, I am a perfect specimen.
Who believes this crap? 99.99999% of all people who have a million dollars to spend on a house in SD know the area.
I’m starting to think this board is more about living a fantasy than anything else.
Oh, and this person is that .000001%, sure…
ParticipantAlmost every agent I know violates article 1 where it states
“obligation to treat all parties honestly”
when they steer clients (buyers) to houses that pay better commissions.
Steering is a very common practice, because after all it’s about the Realtors not the clients.
ParticipantAlmost every agent I know violates article 1 where it states
“obligation to treat all parties honestly”
when they steer clients (buyers) to houses that pay better commissions.
Steering is a very common practice, because after all it’s about the Realtors not the clients.
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