[santeeman]

That’s sad. I guess that place IS really haunted in more ways than one………

[santeeman]

I do what I can, which is not much! I love to read the different points of view. I am trying to get educated on all this!

[santeeman]

EXISTING home sales information, oops…..

It really seems like there is a trend in the amount of homes being listed, dropping month after month for the YOY. Seller’s waiting for spring? If you knew your house was gonna be repossessed, would it really matter to you to wait for your ARM to reset before you would put it on the market, or wouldn’t you try to refinance into another, or sell before it’s too late?

[santeeman]

"I'll buy wherever and whenever there is value. If there is a home in Temecula that generates free cash flow that produces 12% Return on Investment and carries a 25% margin of safety then great."

 

Good luck finding a property in Temecula (or anywhere else around here) that you can find profitable. The taxes/mella roos alone(not to mention HOA) in Temecula are probably half the rental price.

[santeeman]

People are renting out there homes instead of selling which could send the prices of houses down. However, we also have low vacancy rates, so they could and have gone up.

Premiums for a better school, a view I can see, but what will our children do? How will they get the American Dream if you have to be a doctor/lawyer/Bill Gates to buy a house at that premium?

Houses prices are completely out of whack with incomes, therefore they are unsustainable,that’s what the folks here are saying. Falsely inflated,fueled by mass hysteria, greed,and criminals trying to squeeze every last dime out of people who’s only hope was to get in before it was all gone. It’s gotta come down to more earthly levels . Though I personally believe that(most)folks here seem to think those prices are going to be cut in half. I personally can’t see that happening since not everyone bought their homes in ’04 or’05 and can well afford their mortgages.

Rents like everything else will go up, they always do.

[santeeman]

I agree with you on Bush. I have always wondered how he got elected… “STRATEEGAREE”.

If the new listing trend continues dropping, won’t it eventually have an effect on that glut of homes we are seeing?

[santeeman]

I saw this article too. Where could they possibly be getting that information? I noticed on the sandicor website that the number of new listings has been shrinking steadily, in comparison to last year(2005). I don’t have a clue, but I have to wonder if it is happening anywhere else beside San Diego and could it be a trend somehow shorting the housing supply? I am sure everyone here thinks it is pure propaganda but I am not completely convinced.

[santeeman]

Maybe not for long, did you see this today…….

Stocks close lower ahead of November jobs report

By Tim Paradis
ASSOCIATED PRESS

2:11 p.m. December 7, 2006

NEW YORK – Stocks declined for a second straight session Thursday as Wall Street grew nervous ahead of the government’s November jobs creation report and its implications for the health of the overall economy.
The skittishness came despite upbeat news from the Labor Department, which said, as expected, that the number of newly laid off workers seeking unemployment benefits fell last week by the largest amount in six months. A spike in jobless claims last week stirred concern among investors that perhaps the economy was losing steam too quickly. Fluctuations tend to be wider around the holidays and Friday’s Labor Department report should provide some clarity about the labor market.

[santeeman]

Where is Powayseller, I thought she was looking forward to this comming out…….

[santeeman]

I think it means all those people bought into the idea that realestate will never go down, and they all those price increases.

The lamb to the slaughter.

[santeeman]

I am waiting until April to put it on the market. Gotta fix some things, kids in school, just before summer. I retire 2/08 from the military.

[santeeman]

"So if the median is up 5%, that does not mean your home is worth 5% more that month. Each home is still falling in value, and it will continue to do so, as long as months supply is above 8."

I look at hometracker each week and this correlates with the info on there. It shows the median falling, ever so slowly, but falling. It shows a falling number of inventory too. Above 8 months, but falling. I am sure you have a better resource for that information, but I tend to hope that this information indicates it may not be too late to "cut and run", so they say.

[santeeman]

I just hope there is still time to get out in April! I saw this article, some people may feel its time to buy my house.

[santeeman]

uh oh i did it again

[santeeman]

Thanks jg, this is a real precarious situation I am in, and I need all the advice I can get.

[Author]

Posts