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May 1, 2009 at 11:12 PM in reply to: Visalia, California Real Estate Broker Predicts a 30% Increase in Home Prices. #391520May 1, 2009 at 11:12 PM in reply to: Visalia, California Real Estate Broker Predicts a 30% Increase in Home Prices. #391782
ralphfurley
ParticipantWhile I enjoy Yosemite and the Sequoias, I can’t imagine people flocking to CA’s central valley. Never once have I heard someone say, “I can’t wait to go to Bakersfield.”
Has the bubble popped that drastically out there that it can only go up now? I heard Stockton and some towns south of there got hit hard the last couple years. Did they flush all the garbage out of the system already? If not, I don’t see how it will see a 30% increase. That realtor is on crack.
On a side note, SDrealtor was dead on with the robust spring selling season. Seems like all the houses I’ve been following in Murrieta/Temecula are being gobbled up pretty quick. Not sure about the SD area, but it does look like inventory of good homes that show well is low, and people are turning out to buy them.
If Mr. Mortgage is right, we should see more inventory by September or so, and with it, a decrease in house prices. We shall see…
May 1, 2009 at 11:12 PM in reply to: Visalia, California Real Estate Broker Predicts a 30% Increase in Home Prices. #391993ParticipantWhile I enjoy Yosemite and the Sequoias, I can’t imagine people flocking to CA’s central valley. Never once have I heard someone say, “I can’t wait to go to Bakersfield.”
Has the bubble popped that drastically out there that it can only go up now? I heard Stockton and some towns south of there got hit hard the last couple years. Did they flush all the garbage out of the system already? If not, I don’t see how it will see a 30% increase. That realtor is on crack.
On a side note, SDrealtor was dead on with the robust spring selling season. Seems like all the houses I’ve been following in Murrieta/Temecula are being gobbled up pretty quick. Not sure about the SD area, but it does look like inventory of good homes that show well is low, and people are turning out to buy them.
If Mr. Mortgage is right, we should see more inventory by September or so, and with it, a decrease in house prices. We shall see…
May 1, 2009 at 11:12 PM in reply to: Visalia, California Real Estate Broker Predicts a 30% Increase in Home Prices. #392046ParticipantWhile I enjoy Yosemite and the Sequoias, I can’t imagine people flocking to CA’s central valley. Never once have I heard someone say, “I can’t wait to go to Bakersfield.”
Has the bubble popped that drastically out there that it can only go up now? I heard Stockton and some towns south of there got hit hard the last couple years. Did they flush all the garbage out of the system already? If not, I don’t see how it will see a 30% increase. That realtor is on crack.
On a side note, SDrealtor was dead on with the robust spring selling season. Seems like all the houses I’ve been following in Murrieta/Temecula are being gobbled up pretty quick. Not sure about the SD area, but it does look like inventory of good homes that show well is low, and people are turning out to buy them.
If Mr. Mortgage is right, we should see more inventory by September or so, and with it, a decrease in house prices. We shall see…
May 1, 2009 at 11:12 PM in reply to: Visalia, California Real Estate Broker Predicts a 30% Increase in Home Prices. #392186ParticipantWhile I enjoy Yosemite and the Sequoias, I can’t imagine people flocking to CA’s central valley. Never once have I heard someone say, “I can’t wait to go to Bakersfield.”
Has the bubble popped that drastically out there that it can only go up now? I heard Stockton and some towns south of there got hit hard the last couple years. Did they flush all the garbage out of the system already? If not, I don’t see how it will see a 30% increase. That realtor is on crack.
On a side note, SDrealtor was dead on with the robust spring selling season. Seems like all the houses I’ve been following in Murrieta/Temecula are being gobbled up pretty quick. Not sure about the SD area, but it does look like inventory of good homes that show well is low, and people are turning out to buy them.
If Mr. Mortgage is right, we should see more inventory by September or so, and with it, a decrease in house prices. We shall see…
ParticipantSvelte, that story is almost a year old. I remember seeing that blonde guy throw crap out his window on the local news here in LA. Or was it CNN? [shrug]
I checked out a house on Pine Creek Pl. in Murrieta a year ago and that place was tore up. The dishwasher was on top of the kitchen island, the microwave was smashed through the drywall (high up I might add, must have been hard to get up there), most all the drywall was ripped out, the crown molding was thrashed, the toilets were kicked in, and the beams were slightly sawed through.
It looked great from the outside though. Had a nice view too.
ParticipantSvelte, that story is almost a year old. I remember seeing that blonde guy throw crap out his window on the local news here in LA. Or was it CNN? [shrug]
I checked out a house on Pine Creek Pl. in Murrieta a year ago and that place was tore up. The dishwasher was on top of the kitchen island, the microwave was smashed through the drywall (high up I might add, must have been hard to get up there), most all the drywall was ripped out, the crown molding was thrashed, the toilets were kicked in, and the beams were slightly sawed through.
It looked great from the outside though. Had a nice view too.
ParticipantSvelte, that story is almost a year old. I remember seeing that blonde guy throw crap out his window on the local news here in LA. Or was it CNN? [shrug]
I checked out a house on Pine Creek Pl. in Murrieta a year ago and that place was tore up. The dishwasher was on top of the kitchen island, the microwave was smashed through the drywall (high up I might add, must have been hard to get up there), most all the drywall was ripped out, the crown molding was thrashed, the toilets were kicked in, and the beams were slightly sawed through.
It looked great from the outside though. Had a nice view too.
ParticipantSvelte, that story is almost a year old. I remember seeing that blonde guy throw crap out his window on the local news here in LA. Or was it CNN? [shrug]
I checked out a house on Pine Creek Pl. in Murrieta a year ago and that place was tore up. The dishwasher was on top of the kitchen island, the microwave was smashed through the drywall (high up I might add, must have been hard to get up there), most all the drywall was ripped out, the crown molding was thrashed, the toilets were kicked in, and the beams were slightly sawed through.
It looked great from the outside though. Had a nice view too.
ParticipantSvelte, that story is almost a year old. I remember seeing that blonde guy throw crap out his window on the local news here in LA. Or was it CNN? [shrug]
I checked out a house on Pine Creek Pl. in Murrieta a year ago and that place was tore up. The dishwasher was on top of the kitchen island, the microwave was smashed through the drywall (high up I might add, must have been hard to get up there), most all the drywall was ripped out, the crown molding was thrashed, the toilets were kicked in, and the beams were slightly sawed through.
It looked great from the outside though. Had a nice view too.
ParticipantFrom Mr. Mortgage:
House Prices Are Bottoming — But for the Wrong Reasons
Present values of properties at the notice-of-default stage are clearly rising due to the shift in the mix of loans/properties going into default from lower to higher. This ‘mix-shift’ effect may push up median house prices in 2009 creating the appearance that the market is improving when in reality it is because more higher-value properties are defaulting, being foreclosed upon and reselling through the Realtor network.
—————-
This may not apply to Morgan Hill or certain micro-markets, but it is definitely something to keep in mind when bottom-calling.
ParticipantFrom Mr. Mortgage:
House Prices Are Bottoming — But for the Wrong Reasons
Present values of properties at the notice-of-default stage are clearly rising due to the shift in the mix of loans/properties going into default from lower to higher. This ‘mix-shift’ effect may push up median house prices in 2009 creating the appearance that the market is improving when in reality it is because more higher-value properties are defaulting, being foreclosed upon and reselling through the Realtor network.
—————-
This may not apply to Morgan Hill or certain micro-markets, but it is definitely something to keep in mind when bottom-calling.
ParticipantFrom Mr. Mortgage:
House Prices Are Bottoming — But for the Wrong Reasons
Present values of properties at the notice-of-default stage are clearly rising due to the shift in the mix of loans/properties going into default from lower to higher. This ‘mix-shift’ effect may push up median house prices in 2009 creating the appearance that the market is improving when in reality it is because more higher-value properties are defaulting, being foreclosed upon and reselling through the Realtor network.
—————-
This may not apply to Morgan Hill or certain micro-markets, but it is definitely something to keep in mind when bottom-calling.
ParticipantFrom Mr. Mortgage:
House Prices Are Bottoming — But for the Wrong Reasons
Present values of properties at the notice-of-default stage are clearly rising due to the shift in the mix of loans/properties going into default from lower to higher. This ‘mix-shift’ effect may push up median house prices in 2009 creating the appearance that the market is improving when in reality it is because more higher-value properties are defaulting, being foreclosed upon and reselling through the Realtor network.
—————-
This may not apply to Morgan Hill or certain micro-markets, but it is definitely something to keep in mind when bottom-calling.
ParticipantFrom Mr. Mortgage:
House Prices Are Bottoming — But for the Wrong Reasons
Present values of properties at the notice-of-default stage are clearly rising due to the shift in the mix of loans/properties going into default from lower to higher. This ‘mix-shift’ effect may push up median house prices in 2009 creating the appearance that the market is improving when in reality it is because more higher-value properties are defaulting, being foreclosed upon and reselling through the Realtor network.
—————-
This may not apply to Morgan Hill or certain micro-markets, but it is definitely something to keep in mind when bottom-calling.
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