[PerryChase]

I think that there’s some collusion, and previously unsuccessful legal actions, on the part the Realty Industrial Complex to retard the development of alternative business models.

The argument is that consumers have more “protection” when they are represented by the “traditional” realty model.

But that’s not going to hold water. Thanks to the info provided by the Internet, consumers are more savvy now and they will demand change.

Remember when you could only buy insurance from an agent? But now your can buy it online from less expensive sources. Businesses will find ways around the law or the law will change to adapt to a changing environment.

[PerryChase]

Your brother-in-law’s wife sure is an emotional wreck waiting to happen. And your brother-in-law is the enabler since he allows it to happen. Husband should tell his wife, “if you want the house, you earn the money to buy it.” In many ways, people create their own reality.

If women would leave real-estate matters to their husbands, the market would correct very quickly, ha.ha, (just joking).

But seriously, Realtors will confirm that women’s emotional decisions affect the purchase of most houses.

[PerryChase]

This past weekend, I was visiting a friend so at the same time, I stopped by some of the models at Pacific Highlands Ranch in Carmel Valley. Pardee’s Santa Rosa at $1M – $1.2M is way overpriced as you can get better value on the resale market.

People looking to purchase in a new development should be looking in the sales history of previously sold houses. I see new houses selling for $100k+ less than the same floor plan previously sold for. Zillow will not show developer sales info. Look at the County website or sdlookup.com

[PerryChase]

Remember, we are just 1 year past the peak. There are still many “desperate” buyers wanting to get in before it’s too late. Those are the ones buying now. I’m willing to bet that 2008 will be different; patience, patience.

[PerryChase]

I looked at the Cabrillo/Shona condos as well when they first opened.

I make it a point to visit all new construction when I’m on my way someplace else. That way I know the neighborhoods for when I’m ready.

I agree that the Lennar condos are overpriced. You might want to check out William Lyon’s Sunset Cover in Clairemont/Bay Park. They are equally overpriced but they are nicer townhouses with higher ceilings. Some units have ocean views.

I say wait 5 years then buy a resale unit.

[PerryChase]

I don’t know about Wilkes. But I met Cunningham several times and I’ll just say that I’m not surprised at what’s happened. Carol Lam did a great job prosecuting Cunningham. Bravo! Perhaps it took an Asian US Attorney who’s not part of the good ol’ boys’ club to unravel this corruption scheme.

[PerryChase]

Thanks for sharing your story. We need more people to come forward with such stories so the public is aware of what’s going on.

[PerryChase]

I meant to write “$186/sf in Oceanside and still no buyer.” Sorry, typed too fast.

[PerryChase]

That is wild. I wonder if this type of incident will be the norm as people get served their papers. I hear that auto repo men have to work under night-time cover in order to avoid violence on the part of owners.

[PerryChase]

I finally got a chance to read the Mishkin speech. It sounds to me like the Fed will intervene if there’s a housing crash “to ensure that it will not do serious harm to the economy.”

I read this as meaning that if the housing downturn affects the general economy, the Fed will lower rates to provide households some “breathing room.” So far consumer confidence and spending are holding up but if the consumers tighten too much, the Fed will act decisively to lower rates.

This will only prolong the pain in real estate but save the general economy. I say don’t buy RE in 2007 because there are more price decreases in store in 2008.

I predict a rate decrease as the economy weakens towards the end of 2007.

[PerryChase]

Links to Asheville, NC.
I learned something new today. Asheville sounds like a really nice place. I need to go check-out the Biltmore estate. Looks like a French Loire Valley Castle.

http://www.exploreasheville.com/press-room/asheville-quality-of-life-awards/index.aspx
http://www.romanticasheville.com/index.html

[PerryChase]

You’re just too cool OCrenter. 🙂

This development is a must watch for Carmel Valley. If the prices on these houses keep on dropping the whole valley will move down a notch.

Hard to believe that people who bought $2 million houses in reality can’t afford them. What were they thinking? Or not?

I just looked on ziprealty and somone is selling 9 lots in the same neighborhood. 9 lots for $6.6 million equals $733k each lot. How much would a developer have to sell new spec houses for in order to make a profit?
http://www.ziprealty.com/buy_a_home/logged_in/search/my_home_detail.jsp?listing_num=061077067&property_type=LAND&mls=mls_sandiego&cKey=f7srgpqd&source=SANDICOR

[PerryChase]

I’ve never been to Ashville. But I hear that it’s quite nice with a thriving downtown. It’s a little isolating in my view.

Qwerty007, if you’re looking for a place overseas to retire then I think that Singapore will meet all your requirements. Except that the country is predominently ethnic Chinese so culturally, it might not be ideal for a Westerner. Everyone speaks English in Singapore and the medical facilities are first rate. Biotech is thriving. There is no crime.

The Sands Casino is building a mega casino in Singapore so it’s a Las Vegas in the making (with good potential for real estate appreciation)

Banking is first rate so you’ll always have ready access to your hard earned money.

http://www.latimes.com/business/la-fi-sigbank11nov11,1,2482514,full.story?coll=la-headlines-business
http://travel2.nytimes.com/2006/05/27/business/worldbusiness/27casino.html

From Singapore, you can take discount airline fights to all of Asia including Australia. Santosa Island is like a Hawaiian resort.

[PerryChase]

I was wondering the same thing.

[PerryChase]

Let’s not forget the Fed’s pumpinp the economy full of liquidity in 1999 on the eve of the supposed Year 2000 bug collapse. Remember that everyone was predicting a shutdown on Jan 1, 2000?

So the Fed actions one, after another compounded the problems.

[Author]

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