[SD Realtor]

Hi Trex –

Go ahead and put me down for 20-30 in some neighborhoods and 35-50 in others.

SD Realtor (not sdr as he has not posted on this yet)

[SD Realtor]

Hi Trex –

Go ahead and put me down for 20-30 in some neighborhoods and 35-50 in others.

SD Realtor (not sdr as he has not posted on this yet)

[SD Realtor]

Not many 29 year olds have 400k banked. You guys have done a GREAT job.

There was actually a listing west of 5 in 92075 that listed at 795k but went into escrow in a matter of days. It was not anything special but it was encouraging to see that sort of pricing. Also I “believe” it was an as is sale so I wonder if there were some major issues….

Anyways if schools are the big thing then pick the school and find a rental in that district. If it means you pay a premium then so be it. I think you will see some price contraction west of 5 in Encinitas but no way will I give an estimate because I don’t believe it will be as large as other areas in town. Still though, even a 10-20% depreciation on say a 950k home gets into the price range you want.

Hey and 5% on 400k for say two years is another 40k (less taxes) … not bad considering there is no risk…

SD Realtor

[SD Realtor]

Not many 29 year olds have 400k banked. You guys have done a GREAT job.

There was actually a listing west of 5 in 92075 that listed at 795k but went into escrow in a matter of days. It was not anything special but it was encouraging to see that sort of pricing. Also I “believe” it was an as is sale so I wonder if there were some major issues….

Anyways if schools are the big thing then pick the school and find a rental in that district. If it means you pay a premium then so be it. I think you will see some price contraction west of 5 in Encinitas but no way will I give an estimate because I don’t believe it will be as large as other areas in town. Still though, even a 10-20% depreciation on say a 950k home gets into the price range you want.

Hey and 5% on 400k for say two years is another 40k (less taxes) … not bad considering there is no risk…

SD Realtor

[SD Realtor]

Not many 29 year olds have 400k banked. You guys have done a GREAT job.

There was actually a listing west of 5 in 92075 that listed at 795k but went into escrow in a matter of days. It was not anything special but it was encouraging to see that sort of pricing. Also I “believe” it was an as is sale so I wonder if there were some major issues….

Anyways if schools are the big thing then pick the school and find a rental in that district. If it means you pay a premium then so be it. I think you will see some price contraction west of 5 in Encinitas but no way will I give an estimate because I don’t believe it will be as large as other areas in town. Still though, even a 10-20% depreciation on say a 950k home gets into the price range you want.

Hey and 5% on 400k for say two years is another 40k (less taxes) … not bad considering there is no risk…

SD Realtor

[SD Realtor]

Hi Rad –

In a nutshell… Oh Yeahhhhhhhhhh…. (and you have to say yeah like macho man randy savage)

The problem is that many sellers are just still in denial. One of my listings has a particularly crispy seller who doesn’t accept the situation. I told him that his pricing may indeed get a deal on paper but most likely will get kicked back by the lender when the loan goes through underwriting… We will see how this one goes as the loan is currently in underwriting as I type and the appraisal is getting reviewed. Yes the lender is Countrywide.

The more seasoned people are getting it but even then… I just got off the phone with a nice lady who has a listing with Prudential that she is cancelling. She listed with them for 2 straight periods and the home has not sold. I told her it is not really their fault as much as it may be that the home is not priced correctly. Well she went through a big diatribe about how they MUST get this much out of the home… so this is from someone who has been on the market, who has not seen the home sell, who has all the nice pictures and big marketing tools of this monster brokerage…so as much as she gets it… she doesn’t get it…I gave her a call back after I comped it out and suggested an immediate 10% price reduction with a caviot that I would be more comfortable with a 15% reduction. I almost heard her head hit the wall… Anyways she wants to meet in person tomorrow….

I hear this every day…over and over and over….

The bottom line is that even with the secondary market dried up, and the real estate market hitting the wall… a vast majority of sellers still don’t realize they will get what the market bears, not what they have to get out of the home.

Those that price aggressively and make the homes show well have the best shot at selling…

SD Realtor

[SD Realtor]

Hi Rad –

In a nutshell… Oh Yeahhhhhhhhhh…. (and you have to say yeah like macho man randy savage)

The problem is that many sellers are just still in denial. One of my listings has a particularly crispy seller who doesn’t accept the situation. I told him that his pricing may indeed get a deal on paper but most likely will get kicked back by the lender when the loan goes through underwriting… We will see how this one goes as the loan is currently in underwriting as I type and the appraisal is getting reviewed. Yes the lender is Countrywide.

The more seasoned people are getting it but even then… I just got off the phone with a nice lady who has a listing with Prudential that she is cancelling. She listed with them for 2 straight periods and the home has not sold. I told her it is not really their fault as much as it may be that the home is not priced correctly. Well she went through a big diatribe about how they MUST get this much out of the home… so this is from someone who has been on the market, who has not seen the home sell, who has all the nice pictures and big marketing tools of this monster brokerage…so as much as she gets it… she doesn’t get it…I gave her a call back after I comped it out and suggested an immediate 10% price reduction with a caviot that I would be more comfortable with a 15% reduction. I almost heard her head hit the wall… Anyways she wants to meet in person tomorrow….

I hear this every day…over and over and over….

The bottom line is that even with the secondary market dried up, and the real estate market hitting the wall… a vast majority of sellers still don’t realize they will get what the market bears, not what they have to get out of the home.

Those that price aggressively and make the homes show well have the best shot at selling…

SD Realtor

[SD Realtor]

Hi Rad –

In a nutshell… Oh Yeahhhhhhhhhh…. (and you have to say yeah like macho man randy savage)

The problem is that many sellers are just still in denial. One of my listings has a particularly crispy seller who doesn’t accept the situation. I told him that his pricing may indeed get a deal on paper but most likely will get kicked back by the lender when the loan goes through underwriting… We will see how this one goes as the loan is currently in underwriting as I type and the appraisal is getting reviewed. Yes the lender is Countrywide.

The more seasoned people are getting it but even then… I just got off the phone with a nice lady who has a listing with Prudential that she is cancelling. She listed with them for 2 straight periods and the home has not sold. I told her it is not really their fault as much as it may be that the home is not priced correctly. Well she went through a big diatribe about how they MUST get this much out of the home… so this is from someone who has been on the market, who has not seen the home sell, who has all the nice pictures and big marketing tools of this monster brokerage…so as much as she gets it… she doesn’t get it…I gave her a call back after I comped it out and suggested an immediate 10% price reduction with a caviot that I would be more comfortable with a 15% reduction. I almost heard her head hit the wall… Anyways she wants to meet in person tomorrow….

I hear this every day…over and over and over….

The bottom line is that even with the secondary market dried up, and the real estate market hitting the wall… a vast majority of sellers still don’t realize they will get what the market bears, not what they have to get out of the home.

Those that price aggressively and make the homes show well have the best shot at selling…

SD Realtor

[SD Realtor]

Sounds good Joe –

I think you guys have a pretty sound strategy. As you can see up in the thread, you should be able to calculate what you will net out of the sale. Make sure when you analyze the comps to look at the rate of expired, cancelled and withdrawn listings as well. Price your home aggressively and make sure it shows well and you should be okay. Also offer a competitive commission for the other side but don’t go overboard with it. Pricing and showability/condition of the home are what is most important right now. Also knowing what your competition is doing is key.

SD Realtor

[SD Realtor]

Sounds good Joe –

I think you guys have a pretty sound strategy. As you can see up in the thread, you should be able to calculate what you will net out of the sale. Make sure when you analyze the comps to look at the rate of expired, cancelled and withdrawn listings as well. Price your home aggressively and make sure it shows well and you should be okay. Also offer a competitive commission for the other side but don’t go overboard with it. Pricing and showability/condition of the home are what is most important right now. Also knowing what your competition is doing is key.

SD Realtor

[SD Realtor]

Sounds good Joe –

I think you guys have a pretty sound strategy. As you can see up in the thread, you should be able to calculate what you will net out of the sale. Make sure when you analyze the comps to look at the rate of expired, cancelled and withdrawn listings as well. Price your home aggressively and make sure it shows well and you should be okay. Also offer a competitive commission for the other side but don’t go overboard with it. Pricing and showability/condition of the home are what is most important right now. Also knowing what your competition is doing is key.

SD Realtor

[SD Realtor]

Rus I think it will be very well attended. As to how many homes actually get auctioned off it will be harder to say. One thing that may incentivize the lenders this time around is the fact that they have much more inventory at present and projected to come in the future. So perhaps they start dumping as compared to the June auction.

Also I agree with nsr that foreclosures are the new in vogue thing.

SD Realtor

[SD Realtor]

Rus I think it will be very well attended. As to how many homes actually get auctioned off it will be harder to say. One thing that may incentivize the lenders this time around is the fact that they have much more inventory at present and projected to come in the future. So perhaps they start dumping as compared to the June auction.

Also I agree with nsr that foreclosures are the new in vogue thing.

SD Realtor

[SD Realtor]

Rus I think it will be very well attended. As to how many homes actually get auctioned off it will be harder to say. One thing that may incentivize the lenders this time around is the fact that they have much more inventory at present and projected to come in the future. So perhaps they start dumping as compared to the June auction.

Also I agree with nsr that foreclosures are the new in vogue thing.

SD Realtor

[SD Realtor]

I have a client who has an in law and they want to buy a home in Tierra Santa. We have been looking at places there for the past several weeks. IMO Tierra Santa is not comparable to CV at all. Will Tierra Santa go down? Absolutely. I don’t think it will have nearly the foreclosure rate of CV. Right now we have been focusing on the El Dorado Hills area which is at the edge of TS along the hillside and faces to the southwest. As far as schools and such for TS, I have not dug into that as these people are getting a place for mom.

Don’t get me wrong. TS will indeed depreciate. I don’t think it will get pounded as hard as CV or San Marcos but it will go down.

SD Realtor

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