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June 20, 2010 at 3:10 PM in reply to: OT-What a loan modification with principal reduction really looks like #568410June 20, 2010 at 3:10 PM in reply to: OT-What a loan modification with principal reduction really looks like #568516
pemeliza
Participant“We all just have to take a gamble and choose sides; they’ve left us no choice.”
Well spoken CAR.
June 20, 2010 at 3:10 PM in reply to: OT-What a loan modification with principal reduction really looks like #568796Participant“We all just have to take a gamble and choose sides; they’ve left us no choice.”
Well spoken CAR.
Participant“If you look at the **timeline** as opposed to submarkets, you’ll see that very few areas have declined significantly since the Fed/govt started their major market-intervention campaign in late 2008/early 2009.”
“because the govt intervened *after* the lower end areas were hit, and *before* the mid-higher end areas were really damaged.”
Interesting theory CAR but I don’t think it really played out quite like that. Many good areas in San Diego had massive price declines at the mid-higher end all throughout 2009 and now into 2010. As an example, Aviara is currently trading at about 2001 prices for houses in the mid-high range but early last year I looked in that area and prices were significantly higher. Other areas that got hammered over the last 12 months that I personally follow fairly closely are Point Loma, Mission Hills, Mt. Helix, and Poway. I cannot believe some of the deals I am seeing go through in Mt Helix.
Some areas in NCC that come to mind that got decimated over the last 12 months are La Costa Greens, La Costa Oaks, La Costa Estates, Rancho Carillo, and Encinitas Ranch. Most of them are new tract homes but I saw some of the more established stuff on the hill in La Costa Estates trading for around 2001 prices as well.
Participant“If you look at the **timeline** as opposed to submarkets, you’ll see that very few areas have declined significantly since the Fed/govt started their major market-intervention campaign in late 2008/early 2009.”
“because the govt intervened *after* the lower end areas were hit, and *before* the mid-higher end areas were really damaged.”
Interesting theory CAR but I don’t think it really played out quite like that. Many good areas in San Diego had massive price declines at the mid-higher end all throughout 2009 and now into 2010. As an example, Aviara is currently trading at about 2001 prices for houses in the mid-high range but early last year I looked in that area and prices were significantly higher. Other areas that got hammered over the last 12 months that I personally follow fairly closely are Point Loma, Mission Hills, Mt. Helix, and Poway. I cannot believe some of the deals I am seeing go through in Mt Helix.
Some areas in NCC that come to mind that got decimated over the last 12 months are La Costa Greens, La Costa Oaks, La Costa Estates, Rancho Carillo, and Encinitas Ranch. Most of them are new tract homes but I saw some of the more established stuff on the hill in La Costa Estates trading for around 2001 prices as well.
Participant“If you look at the **timeline** as opposed to submarkets, you’ll see that very few areas have declined significantly since the Fed/govt started their major market-intervention campaign in late 2008/early 2009.”
“because the govt intervened *after* the lower end areas were hit, and *before* the mid-higher end areas were really damaged.”
Interesting theory CAR but I don’t think it really played out quite like that. Many good areas in San Diego had massive price declines at the mid-higher end all throughout 2009 and now into 2010. As an example, Aviara is currently trading at about 2001 prices for houses in the mid-high range but early last year I looked in that area and prices were significantly higher. Other areas that got hammered over the last 12 months that I personally follow fairly closely are Point Loma, Mission Hills, Mt. Helix, and Poway. I cannot believe some of the deals I am seeing go through in Mt Helix.
Some areas in NCC that come to mind that got decimated over the last 12 months are La Costa Greens, La Costa Oaks, La Costa Estates, Rancho Carillo, and Encinitas Ranch. Most of them are new tract homes but I saw some of the more established stuff on the hill in La Costa Estates trading for around 2001 prices as well.
Participant“If you look at the **timeline** as opposed to submarkets, you’ll see that very few areas have declined significantly since the Fed/govt started their major market-intervention campaign in late 2008/early 2009.”
“because the govt intervened *after* the lower end areas were hit, and *before* the mid-higher end areas were really damaged.”
Interesting theory CAR but I don’t think it really played out quite like that. Many good areas in San Diego had massive price declines at the mid-higher end all throughout 2009 and now into 2010. As an example, Aviara is currently trading at about 2001 prices for houses in the mid-high range but early last year I looked in that area and prices were significantly higher. Other areas that got hammered over the last 12 months that I personally follow fairly closely are Point Loma, Mission Hills, Mt. Helix, and Poway. I cannot believe some of the deals I am seeing go through in Mt Helix.
Some areas in NCC that come to mind that got decimated over the last 12 months are La Costa Greens, La Costa Oaks, La Costa Estates, Rancho Carillo, and Encinitas Ranch. Most of them are new tract homes but I saw some of the more established stuff on the hill in La Costa Estates trading for around 2001 prices as well.
Participant“If you look at the **timeline** as opposed to submarkets, you’ll see that very few areas have declined significantly since the Fed/govt started their major market-intervention campaign in late 2008/early 2009.”
“because the govt intervened *after* the lower end areas were hit, and *before* the mid-higher end areas were really damaged.”
Interesting theory CAR but I don’t think it really played out quite like that. Many good areas in San Diego had massive price declines at the mid-higher end all throughout 2009 and now into 2010. As an example, Aviara is currently trading at about 2001 prices for houses in the mid-high range but early last year I looked in that area and prices were significantly higher. Other areas that got hammered over the last 12 months that I personally follow fairly closely are Point Loma, Mission Hills, Mt. Helix, and Poway. I cannot believe some of the deals I am seeing go through in Mt Helix.
Some areas in NCC that come to mind that got decimated over the last 12 months are La Costa Greens, La Costa Oaks, La Costa Estates, Rancho Carillo, and Encinitas Ranch. Most of them are new tract homes but I saw some of the more established stuff on the hill in La Costa Estates trading for around 2001 prices as well.
ParticipantI think sdr was using the word “resilient” to refer to his submarket which is north county coastal san diego. I agree the national housing market as a whole has been about as resilient as a twig in a tornado.
ParticipantI think sdr was using the word “resilient” to refer to his submarket which is north county coastal san diego. I agree the national housing market as a whole has been about as resilient as a twig in a tornado.
ParticipantI think sdr was using the word “resilient” to refer to his submarket which is north county coastal san diego. I agree the national housing market as a whole has been about as resilient as a twig in a tornado.
ParticipantI think sdr was using the word “resilient” to refer to his submarket which is north county coastal san diego. I agree the national housing market as a whole has been about as resilient as a twig in a tornado.
ParticipantI think sdr was using the word “resilient” to refer to his submarket which is north county coastal san diego. I agree the national housing market as a whole has been about as resilient as a twig in a tornado.
Participant“Housing is and should be 2 to 3 times more expensive than places like Phoenix, it always was in the past and will be in the future, but 5 to 10 times?”
I call major BS on this one. A friend of mine bought a house in Vista for 265k that was practically brand new on a 1/2 acre lot and over 2000 sq. ft. Are you saying that this kind of house is 25k-50k in Phoenix? If you are pointing out that La Jolla is 5-10 times the price of Phoenix than I’ll give you that but your post implied all of San Diego. I see posts like this all the time these days and if you read between the lines what I’m thinking is that there are a large number of people who think they should be able to get prime coastal real estate in the best parts of SD for 2 to 3 times the price of a comparable house in ground zero areas like Phoenix and Riverside and they think that the only reason this isn’t happening is because of the federal government.
“”resilient” is not a reasonable word to use in describing the housing market. insane, fake, propped up, pretend, frightening, duct-taped-together, all right, but resilient?”
Another example of this mentality. Sure are there a handful of pockets of strength left in this beaten down and torched shell of a real estate market. But I for one would be very frightened if there wasn’t.
Participant“Housing is and should be 2 to 3 times more expensive than places like Phoenix, it always was in the past and will be in the future, but 5 to 10 times?”
I call major BS on this one. A friend of mine bought a house in Vista for 265k that was practically brand new on a 1/2 acre lot and over 2000 sq. ft. Are you saying that this kind of house is 25k-50k in Phoenix? If you are pointing out that La Jolla is 5-10 times the price of Phoenix than I’ll give you that but your post implied all of San Diego. I see posts like this all the time these days and if you read between the lines what I’m thinking is that there are a large number of people who think they should be able to get prime coastal real estate in the best parts of SD for 2 to 3 times the price of a comparable house in ground zero areas like Phoenix and Riverside and they think that the only reason this isn’t happening is because of the federal government.
“”resilient” is not a reasonable word to use in describing the housing market. insane, fake, propped up, pretend, frightening, duct-taped-together, all right, but resilient?”
Another example of this mentality. Sure are there a handful of pockets of strength left in this beaten down and torched shell of a real estate market. But I for one would be very frightened if there wasn’t.
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