[permabear]

[quote=DWCAP]”Actual value”. Nice. Value is what people will pay, not what you think your house is worth cause that is what you want for it. Good to see the bubble mentality is alive and strong.[/quote]

I just sold my home in 2 days because I priced it “just right”. I got a fair price – not too low, not too high.

I see others listing their homes at 10%+ more than they’re really worth. Then the home lingers for 90+ days, people start wondering “what’s wrong with it??” and THEN they DO have to drop the price below market.

Sellers are stupid. You want to build up buzz – the “this won’t last!” mentality.

[permabear]

[quote=DWCAP]”Actual value”. Nice. Value is what people will pay, not what you think your house is worth cause that is what you want for it. Good to see the bubble mentality is alive and strong.[/quote]

I just sold my home in 2 days because I priced it “just right”. I got a fair price – not too low, not too high.

I see others listing their homes at 10%+ more than they’re really worth. Then the home lingers for 90+ days, people start wondering “what’s wrong with it??” and THEN they DO have to drop the price below market.

Sellers are stupid. You want to build up buzz – the “this won’t last!” mentality.

[permabear]

[quote=DWCAP]”Actual value”. Nice. Value is what people will pay, not what you think your house is worth cause that is what you want for it. Good to see the bubble mentality is alive and strong.[/quote]

I just sold my home in 2 days because I priced it “just right”. I got a fair price – not too low, not too high.

I see others listing their homes at 10%+ more than they’re really worth. Then the home lingers for 90+ days, people start wondering “what’s wrong with it??” and THEN they DO have to drop the price below market.

Sellers are stupid. You want to build up buzz – the “this won’t last!” mentality.

[permabear]

I completely agree you on San Diego Premier. But the numbers come from the MLS. Spin aside (eg, “things are awesome!”), the data is interesting.

In particular, the charts do show an potentially troubling disparity:

http://sandiegopremier.net/wp-content/uploads/2010/09/cv_chart.jpg

Each of the areas show reasonable sales/inventory < 1.5M, but then >1.5M it goes into years of inventory. In RSF, there is 5+ years of inventory.

Maybe this is how it has always been, but it has me wondering what will happen to prices if the guy with the 2M summer home decides “screw it, cut my losses” and drops it to 1.3M

[permabear]

I completely agree you on San Diego Premier. But the numbers come from the MLS. Spin aside (eg, “things are awesome!”), the data is interesting.

In particular, the charts do show an potentially troubling disparity:

http://sandiegopremier.net/wp-content/uploads/2010/09/cv_chart.jpg

Each of the areas show reasonable sales/inventory < 1.5M, but then >1.5M it goes into years of inventory. In RSF, there is 5+ years of inventory.

Maybe this is how it has always been, but it has me wondering what will happen to prices if the guy with the 2M summer home decides “screw it, cut my losses” and drops it to 1.3M

[permabear]

I completely agree you on San Diego Premier. But the numbers come from the MLS. Spin aside (eg, “things are awesome!”), the data is interesting.

In particular, the charts do show an potentially troubling disparity:

http://sandiegopremier.net/wp-content/uploads/2010/09/cv_chart.jpg

Each of the areas show reasonable sales/inventory < 1.5M, but then >1.5M it goes into years of inventory. In RSF, there is 5+ years of inventory.

Maybe this is how it has always been, but it has me wondering what will happen to prices if the guy with the 2M summer home decides “screw it, cut my losses” and drops it to 1.3M

[permabear]

I completely agree you on San Diego Premier. But the numbers come from the MLS. Spin aside (eg, “things are awesome!”), the data is interesting.

In particular, the charts do show an potentially troubling disparity:

http://sandiegopremier.net/wp-content/uploads/2010/09/cv_chart.jpg

Each of the areas show reasonable sales/inventory < 1.5M, but then >1.5M it goes into years of inventory. In RSF, there is 5+ years of inventory.

Maybe this is how it has always been, but it has me wondering what will happen to prices if the guy with the 2M summer home decides “screw it, cut my losses” and drops it to 1.3M

[permabear]

I completely agree you on San Diego Premier. But the numbers come from the MLS. Spin aside (eg, “things are awesome!”), the data is interesting.

In particular, the charts do show an potentially troubling disparity:

http://sandiegopremier.net/wp-content/uploads/2010/09/cv_chart.jpg

Each of the areas show reasonable sales/inventory < 1.5M, but then >1.5M it goes into years of inventory. In RSF, there is 5+ years of inventory.

Maybe this is how it has always been, but it has me wondering what will happen to prices if the guy with the 2M summer home decides “screw it, cut my losses” and drops it to 1.3M

[permabear]

[quote=kutta2102]We entered into a purchase agreement on a new construction (David Weekley home). Within hours of signing, me and my wife had cold feet regarding affordability (we had done all the calculations numerous times before, but something about signing the contract gave us jitters).[/quote]

Having bought and sold several homes for my family, ask yourself: Is this legitimate concern, or “buyer’s remorse”?

I personally always get jitters after signing on the dotted line. It’s a personality trait some people have.

If the numbers work, and it’s a nice area that you want to live in, relax.

If you feel legitimately stretched, or you’re buying in an area you don’t really like because you don’t want to “miss out” on owning a home, that’s different…

[permabear]

[quote=kutta2102]We entered into a purchase agreement on a new construction (David Weekley home). Within hours of signing, me and my wife had cold feet regarding affordability (we had done all the calculations numerous times before, but something about signing the contract gave us jitters).[/quote]

Having bought and sold several homes for my family, ask yourself: Is this legitimate concern, or “buyer’s remorse”?

I personally always get jitters after signing on the dotted line. It’s a personality trait some people have.

If the numbers work, and it’s a nice area that you want to live in, relax.

If you feel legitimately stretched, or you’re buying in an area you don’t really like because you don’t want to “miss out” on owning a home, that’s different…

[permabear]

[quote=kutta2102]We entered into a purchase agreement on a new construction (David Weekley home). Within hours of signing, me and my wife had cold feet regarding affordability (we had done all the calculations numerous times before, but something about signing the contract gave us jitters).[/quote]

Having bought and sold several homes for my family, ask yourself: Is this legitimate concern, or “buyer’s remorse”?

I personally always get jitters after signing on the dotted line. It’s a personality trait some people have.

If the numbers work, and it’s a nice area that you want to live in, relax.

If you feel legitimately stretched, or you’re buying in an area you don’t really like because you don’t want to “miss out” on owning a home, that’s different…

[permabear]

[quote=kutta2102]We entered into a purchase agreement on a new construction (David Weekley home). Within hours of signing, me and my wife had cold feet regarding affordability (we had done all the calculations numerous times before, but something about signing the contract gave us jitters).[/quote]

Having bought and sold several homes for my family, ask yourself: Is this legitimate concern, or “buyer’s remorse”?

I personally always get jitters after signing on the dotted line. It’s a personality trait some people have.

If the numbers work, and it’s a nice area that you want to live in, relax.

If you feel legitimately stretched, or you’re buying in an area you don’t really like because you don’t want to “miss out” on owning a home, that’s different…

[permabear]

[quote=kutta2102]We entered into a purchase agreement on a new construction (David Weekley home). Within hours of signing, me and my wife had cold feet regarding affordability (we had done all the calculations numerous times before, but something about signing the contract gave us jitters).[/quote]

Having bought and sold several homes for my family, ask yourself: Is this legitimate concern, or “buyer’s remorse”?

I personally always get jitters after signing on the dotted line. It’s a personality trait some people have.

If the numbers work, and it’s a nice area that you want to live in, relax.

If you feel legitimately stretched, or you’re buying in an area you don’t really like because you don’t want to “miss out” on owning a home, that’s different…

[permabear]

[quote=bearishgurl][quote=HomeShopping]I have seen several lots in Santaluz that I like, for the right price. Does anyone know whether you have to pay HOA dues on an empty lot? If I were to buy, I may not build for a few years. I understand that one has to pay property taxes on lots.[/quote]

HomeShopping, in CA, Covenants, Conditions and Restrictions (CC&R’s) are tied to the land. They will appear on the title of your lot. You will agree to them implicitly upon taking title of the lot. These CC&R’s become the underlying basis for mandatory membership in a Homeowner’s Assn (HOA).[/quote]

Don’t forget the Mello-Roos too – have to pay those from year 1 (and property taxes).

[permabear]

[quote=bearishgurl][quote=HomeShopping]I have seen several lots in Santaluz that I like, for the right price. Does anyone know whether you have to pay HOA dues on an empty lot? If I were to buy, I may not build for a few years. I understand that one has to pay property taxes on lots.[/quote]

HomeShopping, in CA, Covenants, Conditions and Restrictions (CC&R’s) are tied to the land. They will appear on the title of your lot. You will agree to them implicitly upon taking title of the lot. These CC&R’s become the underlying basis for mandatory membership in a Homeowner’s Assn (HOA).[/quote]

Don’t forget the Mello-Roos too – have to pay those from year 1 (and property taxes).

[Author]

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