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permabear
Participant[quote=sdrealtor]I just ran some numbers and in the combined 92024, 92009 and 92011 on average a house sells every single day between 800K and 1.2M. Looking at pendings and contingents shows that number could be 2 or more a day if there was appropriate supply.[/quote]
What do you mean by “appropriate supply”? Do you mean more appropriately priced homes in terms of quality vs price? Or just more homes altogether?
I’m personally looking primarily in SR, RSF, LJ, and Solana, and I keep seeing prices drop for overpriced gut jobs. One just dropped 800k from 1.99 to 1.19 but it was right on the 52 and needed massive remodeling.
Participant[quote=sdrealtor]I just ran some numbers and in the combined 92024, 92009 and 92011 on average a house sells every single day between 800K and 1.2M. Looking at pendings and contingents shows that number could be 2 or more a day if there was appropriate supply.[/quote]
What do you mean by “appropriate supply”? Do you mean more appropriately priced homes in terms of quality vs price? Or just more homes altogether?
I’m personally looking primarily in SR, RSF, LJ, and Solana, and I keep seeing prices drop for overpriced gut jobs. One just dropped 800k from 1.99 to 1.19 but it was right on the 52 and needed massive remodeling.
Participant[quote=temeculaguy]Not the canned food thing again!!! Everything will be fine, regardless of what happens. Some areas have seen 50-60% drop from peak and no riots, there is still food. Does anyone ever consider who gets involved in riots? 16-25 year old unemployed males are the driving force in most any riot.[/quote]
Not when it comes to being displaced from your home due to foreclosure/eviction. You should read the link I posted above.We haven’t seen any major civil unrest because the people that have been displaced thus far are people that put 0% down and were basically renting.
If we cut into “real” equity – people that have been paying on-time for 15 years see their equity disappear, it could be a different story. Especially against the current backdrop of no-consequence walking away. We’ll see…
Participant[quote=temeculaguy]Not the canned food thing again!!! Everything will be fine, regardless of what happens. Some areas have seen 50-60% drop from peak and no riots, there is still food. Does anyone ever consider who gets involved in riots? 16-25 year old unemployed males are the driving force in most any riot.[/quote]
Not when it comes to being displaced from your home due to foreclosure/eviction. You should read the link I posted above.We haven’t seen any major civil unrest because the people that have been displaced thus far are people that put 0% down and were basically renting.
If we cut into “real” equity – people that have been paying on-time for 15 years see their equity disappear, it could be a different story. Especially against the current backdrop of no-consequence walking away. We’ll see…
Participant[quote=temeculaguy]Not the canned food thing again!!! Everything will be fine, regardless of what happens. Some areas have seen 50-60% drop from peak and no riots, there is still food. Does anyone ever consider who gets involved in riots? 16-25 year old unemployed males are the driving force in most any riot.[/quote]
Not when it comes to being displaced from your home due to foreclosure/eviction. You should read the link I posted above.We haven’t seen any major civil unrest because the people that have been displaced thus far are people that put 0% down and were basically renting.
If we cut into “real” equity – people that have been paying on-time for 15 years see their equity disappear, it could be a different story. Especially against the current backdrop of no-consequence walking away. We’ll see…
Participant[quote=temeculaguy]Not the canned food thing again!!! Everything will be fine, regardless of what happens. Some areas have seen 50-60% drop from peak and no riots, there is still food. Does anyone ever consider who gets involved in riots? 16-25 year old unemployed males are the driving force in most any riot.[/quote]
Not when it comes to being displaced from your home due to foreclosure/eviction. You should read the link I posted above.We haven’t seen any major civil unrest because the people that have been displaced thus far are people that put 0% down and were basically renting.
If we cut into “real” equity – people that have been paying on-time for 15 years see their equity disappear, it could be a different story. Especially against the current backdrop of no-consequence walking away. We’ll see…
Participant[quote=temeculaguy]Not the canned food thing again!!! Everything will be fine, regardless of what happens. Some areas have seen 50-60% drop from peak and no riots, there is still food. Does anyone ever consider who gets involved in riots? 16-25 year old unemployed males are the driving force in most any riot.[/quote]
Not when it comes to being displaced from your home due to foreclosure/eviction. You should read the link I posted above.We haven’t seen any major civil unrest because the people that have been displaced thus far are people that put 0% down and were basically renting.
If we cut into “real” equity – people that have been paying on-time for 15 years see their equity disappear, it could be a different story. Especially against the current backdrop of no-consequence walking away. We’ll see…
ParticipantIf you’re talking safety of investment, a detached home is better than a condo, historically speaking. I would be a little worried about the features listed on the website:
[quote]Reasons to Buy a Condo in La Costa
– Southern CA climate and lifestyle
– Brand new luxury condos never lived in
– Top of the line appliances and fixtures
– Beautiful natural stone counter tops, natural wood and travertine floors throughout and unique to each home
– Centrally located by the La Costa Golf resort[/quote]In other words, “reasons to buy our spec build” amount to paying for fancy upgrades and a snazzy lifestyle.
It could still be a good deal – I know nothing about the area. I would personally never buy a condo as they are very risky as investments, historically speaking.
ParticipantIf you’re talking safety of investment, a detached home is better than a condo, historically speaking. I would be a little worried about the features listed on the website:
[quote]Reasons to Buy a Condo in La Costa
– Southern CA climate and lifestyle
– Brand new luxury condos never lived in
– Top of the line appliances and fixtures
– Beautiful natural stone counter tops, natural wood and travertine floors throughout and unique to each home
– Centrally located by the La Costa Golf resort[/quote]In other words, “reasons to buy our spec build” amount to paying for fancy upgrades and a snazzy lifestyle.
It could still be a good deal – I know nothing about the area. I would personally never buy a condo as they are very risky as investments, historically speaking.
ParticipantIf you’re talking safety of investment, a detached home is better than a condo, historically speaking. I would be a little worried about the features listed on the website:
[quote]Reasons to Buy a Condo in La Costa
– Southern CA climate and lifestyle
– Brand new luxury condos never lived in
– Top of the line appliances and fixtures
– Beautiful natural stone counter tops, natural wood and travertine floors throughout and unique to each home
– Centrally located by the La Costa Golf resort[/quote]In other words, “reasons to buy our spec build” amount to paying for fancy upgrades and a snazzy lifestyle.
It could still be a good deal – I know nothing about the area. I would personally never buy a condo as they are very risky as investments, historically speaking.
ParticipantIf you’re talking safety of investment, a detached home is better than a condo, historically speaking. I would be a little worried about the features listed on the website:
[quote]Reasons to Buy a Condo in La Costa
– Southern CA climate and lifestyle
– Brand new luxury condos never lived in
– Top of the line appliances and fixtures
– Beautiful natural stone counter tops, natural wood and travertine floors throughout and unique to each home
– Centrally located by the La Costa Golf resort[/quote]In other words, “reasons to buy our spec build” amount to paying for fancy upgrades and a snazzy lifestyle.
It could still be a good deal – I know nothing about the area. I would personally never buy a condo as they are very risky as investments, historically speaking.
ParticipantIf you’re talking safety of investment, a detached home is better than a condo, historically speaking. I would be a little worried about the features listed on the website:
[quote]Reasons to Buy a Condo in La Costa
– Southern CA climate and lifestyle
– Brand new luxury condos never lived in
– Top of the line appliances and fixtures
– Beautiful natural stone counter tops, natural wood and travertine floors throughout and unique to each home
– Centrally located by the La Costa Golf resort[/quote]In other words, “reasons to buy our spec build” amount to paying for fancy upgrades and a snazzy lifestyle.
It could still be a good deal – I know nothing about the area. I would personally never buy a condo as they are very risky as investments, historically speaking.
Participant[quote=desmond]Riots? Who, why and where will these riots take place?[/quote]
Using history as a guide:
http://www.unbossed.com/index.php?itemid=2680
[quote]It was the morning of January 22, 1932, in a quiet, middle-class neighborhood of the Bronx. A crowd was gathering in front of 2302 Olinville Avenue, near the Bronx Park.
City Marshals and Police had moved in to evict 17 tenants who were on a “rent strike”. A crowd of 4,000 had gathered nearby.
When the marshals moved into the building and the first stick of furniture appeared on the street, the crowd charged the police and began pummeling them with fists, stones, and sticks, while the “non-combatants urged the belligerents to greater fury with anathemas for capitalism, the police and landlords.” The outnumbered police barely held their lines until reinforcements arrived.
Every single reserve police officer in the Bronx had to be called in to prevent being routed by the rioters.[/quote]
History is why the government and banks are not kicking people out aggressively.
Participant[quote=desmond]Riots? Who, why and where will these riots take place?[/quote]
Using history as a guide:
http://www.unbossed.com/index.php?itemid=2680
[quote]It was the morning of January 22, 1932, in a quiet, middle-class neighborhood of the Bronx. A crowd was gathering in front of 2302 Olinville Avenue, near the Bronx Park.
City Marshals and Police had moved in to evict 17 tenants who were on a “rent strike”. A crowd of 4,000 had gathered nearby.
When the marshals moved into the building and the first stick of furniture appeared on the street, the crowd charged the police and began pummeling them with fists, stones, and sticks, while the “non-combatants urged the belligerents to greater fury with anathemas for capitalism, the police and landlords.” The outnumbered police barely held their lines until reinforcements arrived.
Every single reserve police officer in the Bronx had to be called in to prevent being routed by the rioters.[/quote]
History is why the government and banks are not kicking people out aggressively.
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