[recordsclerk]

4S Ranch is priced very competitively compared to Del Sur and current Re-Sale homes. Due to the limited sought after Poway Unified School district and no competition, I don’t see them lowering their prices anytime soon. I would still wait out this current down cycle. Newer Scripps Ranch is also part of PUSD and is also competitively priced for 4,000+sqft homes. Eventually when must sell inventory increases in those areas, there will be more price declines. The banks holding these REOs will need to discount them in order to move product. So basically if Re-Sale home sellers want their homes to move they will eventually have to lower their prices, thus making builders lower their prices. Remember prices are very sticky on the way down. I would wait until November to see what happens with all these NODs and NOTs from July-September.

[recordsclerk]

Anything that reminds me of apartment living is a bad thing. Coming home after a long day just to find that you cannot pull into garage because someone is blocking it, not a good thing. This is not a new trend because of demand for this design. This is a way for builders to give you more bang for the buck. You can build more house on a smaller lot. I have two different friends that have bought these types of homes. They bought because of the price for the product. They would have preferred a snout garage with a driveway but could not afford the equivalent sq footage for the same price. I personnally like a motor court with a private gated entry.

[recordsclerk]

Anything that reminds me of apartment living is a bad thing. Coming home after a long day just to find that you cannot pull into garage because someone is blocking it, not a good thing. This is not a new trend because of demand for this design. This is a way for builders to give you more bang for the buck. You can build more house on a smaller lot. I have two different friends that have bought these types of homes. They bought because of the price for the product. They would have preferred a snout garage with a driveway but could not afford the equivalent sq footage for the same price. I personnally like a motor court with a private gated entry.

[recordsclerk]

I think if subtract 60 days prior when the actually offer was made and look at that specific time frame and think about what was happening in the market at the that time.
There were a lot of articles about rebounds in the market in march of 2007. Remember Feb numbers were not that bad and inventory was shrinking.
Go back to June 2006 and rates were climbing and builders were starting to give incentives and lowering prices. Inventory was high.
Not that these things are that big of a deal, but it could have some affect to sale prices.
My sister bought a home in early 2006 and I still haven’t seen a listing of a comparable property in her area for less then she paid. She also paid a lot less at that time then the current comps or comps from 2005.

[recordsclerk]

I think if subtract 60 days prior when the actually offer was made and look at that specific time frame and think about what was happening in the market at the that time.
There were a lot of articles about rebounds in the market in march of 2007. Remember Feb numbers were not that bad and inventory was shrinking.
Go back to June 2006 and rates were climbing and builders were starting to give incentives and lowering prices. Inventory was high.
Not that these things are that big of a deal, but it could have some affect to sale prices.
My sister bought a home in early 2006 and I still haven’t seen a listing of a comparable property in her area for less then she paid. She also paid a lot less at that time then the current comps or comps from 2005.

[recordsclerk]

30-40% decline from today’s prices.

[recordsclerk]

30-40% decline from today’s prices.

[recordsclerk]

I remember reading something about lenders/banks don’t want to price the REO’s to aggressively because that would affect the comps. This would hurt the people needing to refi. It would also perpetuate a decline in prices. They are trying to keep this thing afloat anyway they can. At some point banks are going to have to lower pricing to move inventory.
SDR,
I agree I would like to see more must sell inventory in nicer areas. I do think that at one point pricing in less desirable areas will affect the higher end market.

[recordsclerk]

I remember reading something about lenders/banks don’t want to price the REO’s to aggressively because that would affect the comps. This would hurt the people needing to refi. It would also perpetuate a decline in prices. They are trying to keep this thing afloat anyway they can. At some point banks are going to have to lower pricing to move inventory.
SDR,
I agree I would like to see more must sell inventory in nicer areas. I do think that at one point pricing in less desirable areas will affect the higher end market.

[recordsclerk]

Renting is a suckers deal, but not in a declining market. For once I have to agree that renting is better then buying. Buying is still better then renting overall and buying for stability for family is a sound investment.

[recordsclerk]

Renting is a suckers deal, but not in a declining market. For once I have to agree that renting is better then buying. Buying is still better then renting overall and buying for stability for family is a sound investment.

[recordsclerk]

Builders are slowing down production. Just enough buyers out there for the properties that are priced right. Half the listings of the MLS are outrages and will never sell. I don’t think there is enough must sell inventory competing for buyers. It’s going to take more must sell inventory to compete against each other until prices are forced to drop at a faster rate.

[recordsclerk]

Builders are slowing down production. Just enough buyers out there for the properties that are priced right. Half the listings of the MLS are outrages and will never sell. I don’t think there is enough must sell inventory competing for buyers. It’s going to take more must sell inventory to compete against each other until prices are forced to drop at a faster rate.

[recordsclerk]

Conned by Crooks

I think most us thought that you guys just made bad investments that just went sour. From the news reports I’ve read, the way I understood it was that you guys bought houses and offered more then the asking price, so the buyer would refund you that amount so you can make the monthly payments. Once the money ran out, you were left with a depreciating investment that is worth less then what you owe. What I didn’t know was the underhanded things they did to you. Selling your property without your knowledge. Forging documents, keeping proceeds from sales. This sheds new light to my perspective. These guys from what your saying, stole your hard earned money. Sorry to hear that these things happened to you. Thank you for sharing with us.

[recordsclerk]

Conned by Crooks

I think most us thought that you guys just made bad investments that just went sour. From the news reports I’ve read, the way I understood it was that you guys bought houses and offered more then the asking price, so the buyer would refund you that amount so you can make the monthly payments. Once the money ran out, you were left with a depreciating investment that is worth less then what you owe. What I didn’t know was the underhanded things they did to you. Selling your property without your knowledge. Forging documents, keeping proceeds from sales. This sheds new light to my perspective. These guys from what your saying, stole your hard earned money. Sorry to hear that these things happened to you. Thank you for sharing with us.

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