Forum Replies Created
-
AuthorPosts
-
SD Realtor
ParticipantYou done good Jimmy….You will be celebrating your decision next year bigtime.
SD Realtor
ParticipantEnorah looking back 2.5 weeks later I say you did well and indeed you may have made a good call.
Unfortunately I still contend that the shift is not happening in ANY of the neighborhoods I want to buy in. In fact the few homes I have REALLY REALLY been eyeballing went into escrow at their list prices. The homes that some of my clients want in La Costa Valley are still way way out of the prices we want them to be in and have not shifted. Similarly Solana Beach, Del Mar, 4S, La Jolla, University City are not following suit.
Will they? I think they will but it will take some time. I absolutely feel that this credit crunch will VERY MUCH help to accelerate the issue but I don’t see it taking the form of severe pricing declines across the board in these neighborhoods for awhile. I think there will be more here and theres… which will lead to more… and then even more.
It will be a good thing.
SD Realtor
ParticipantEnorah looking back 2.5 weeks later I say you did well and indeed you may have made a good call.
Unfortunately I still contend that the shift is not happening in ANY of the neighborhoods I want to buy in. In fact the few homes I have REALLY REALLY been eyeballing went into escrow at their list prices. The homes that some of my clients want in La Costa Valley are still way way out of the prices we want them to be in and have not shifted. Similarly Solana Beach, Del Mar, 4S, La Jolla, University City are not following suit.
Will they? I think they will but it will take some time. I absolutely feel that this credit crunch will VERY MUCH help to accelerate the issue but I don’t see it taking the form of severe pricing declines across the board in these neighborhoods for awhile. I think there will be more here and theres… which will lead to more… and then even more.
It will be a good thing.
SD Realtor
ParticipantEnorah looking back 2.5 weeks later I say you did well and indeed you may have made a good call.
Unfortunately I still contend that the shift is not happening in ANY of the neighborhoods I want to buy in. In fact the few homes I have REALLY REALLY been eyeballing went into escrow at their list prices. The homes that some of my clients want in La Costa Valley are still way way out of the prices we want them to be in and have not shifted. Similarly Solana Beach, Del Mar, 4S, La Jolla, University City are not following suit.
Will they? I think they will but it will take some time. I absolutely feel that this credit crunch will VERY MUCH help to accelerate the issue but I don’t see it taking the form of severe pricing declines across the board in these neighborhoods for awhile. I think there will be more here and theres… which will lead to more… and then even more.
It will be a good thing.
SD Realtor
ParticipantNavydoc and Tone… Another cool thing is to check out the canals. Basically the canals are about 3 blocks east of Pacific and they lie in between Washington and Venice. Just go down Washington like you are gonna go to the beach… A few blocks before the beach you will see Dell. Make a right and park anywhere on that street. Get out and walk north. You will run into them… they are very cool to just walk around on…
Also if you have kids run them up to the pier at Santa Monica.
Navydoc, yeah the more north you go the more interesting it gets. All kinds of coyotes in that desert. Eventually you break into Santa Monica and it becomes generic again but still nice. If you have stamina walk all the way to the pier and get a hot dog on a stick and a lemonade.
SD Realtor
ParticipantNavydoc and Tone… Another cool thing is to check out the canals. Basically the canals are about 3 blocks east of Pacific and they lie in between Washington and Venice. Just go down Washington like you are gonna go to the beach… A few blocks before the beach you will see Dell. Make a right and park anywhere on that street. Get out and walk north. You will run into them… they are very cool to just walk around on…
Also if you have kids run them up to the pier at Santa Monica.
Navydoc, yeah the more north you go the more interesting it gets. All kinds of coyotes in that desert. Eventually you break into Santa Monica and it becomes generic again but still nice. If you have stamina walk all the way to the pier and get a hot dog on a stick and a lemonade.
SD Realtor
ParticipantNavydoc and Tone… Another cool thing is to check out the canals. Basically the canals are about 3 blocks east of Pacific and they lie in between Washington and Venice. Just go down Washington like you are gonna go to the beach… A few blocks before the beach you will see Dell. Make a right and park anywhere on that street. Get out and walk north. You will run into them… they are very cool to just walk around on…
Also if you have kids run them up to the pier at Santa Monica.
Navydoc, yeah the more north you go the more interesting it gets. All kinds of coyotes in that desert. Eventually you break into Santa Monica and it becomes generic again but still nice. If you have stamina walk all the way to the pier and get a hot dog on a stick and a lemonade.
SD Realtor
August 11, 2007 at 10:29 PM in reply to: July Foreclosure and trend–huge impact on price in 6 months!? #73531ParticipantI have always thought and posted that the decline will run in a measured pace down (7-10%… more if you have condos or are in a susceptible neighborhood and less if you are not) as well with a caviot that a catalyst will help the decline. I also have always, and still now maintain that the decline will vary by neighborhoods. Susceptible in my example means downtown condos, and the various neighborhoods in outlying areas, and others in heavy built out areas like Eastlake, and others in many central locations that ran up but don’t have desireable schools and such. The foreclosure events have always been visible to me in as much that they will help to contribute in these types of areas or any other areas that they contribute substantially to the inventory. I have always been irritated to see that some neighborhoods that alot of us post about would be some of the last to fall because of lower foreclosure rates coupled with high desireability factors and current residents maybe not having great equity stakes but high paying jobs.
Now… I have to say that I have totally been blind to the credit crunch because I have anticipated rate hikes to take the form of bond market selloffs and the ten year busting up to much higher yields. While this indeed may still happen the current lending climate has absolutely given me hope that a large portion of homes in that 700-950 range may indeed get clobbered or not sold at all… For MANY wel to do people who buy in a much higher range, I don’t expect the credit crunch to hurt as much. However for the wage earning or dincs out there making 150k to 200k a year this indeed will hurt enough to make them think twice and maybe sit out for another extra year.
I think it will take awhile before we see any manifestation of this. Again, we are approaching the cyclical slower point of the market anyways. This should excasserbate things but it will be harder to tell. Give it a year to make really good measurements. I know that is excruciating long…we will see lots of isolated points of perhaps steep price reductions and that will be good. However I think we will see the usual end of summer and fall behavior of stubborn sellers who hibernate only to come out with HIGHER prices in February and March because their agent promised them it will improve then.
If the same credit climate exists where big premiums are tacked on to jumbos… then we should see some chunks…
but I have not and don’t think that thSD Realtor
August 11, 2007 at 10:29 PM in reply to: July Foreclosure and trend–huge impact on price in 6 months!? #73651ParticipantI have always thought and posted that the decline will run in a measured pace down (7-10%… more if you have condos or are in a susceptible neighborhood and less if you are not) as well with a caviot that a catalyst will help the decline. I also have always, and still now maintain that the decline will vary by neighborhoods. Susceptible in my example means downtown condos, and the various neighborhoods in outlying areas, and others in heavy built out areas like Eastlake, and others in many central locations that ran up but don’t have desireable schools and such. The foreclosure events have always been visible to me in as much that they will help to contribute in these types of areas or any other areas that they contribute substantially to the inventory. I have always been irritated to see that some neighborhoods that alot of us post about would be some of the last to fall because of lower foreclosure rates coupled with high desireability factors and current residents maybe not having great equity stakes but high paying jobs.
Now… I have to say that I have totally been blind to the credit crunch because I have anticipated rate hikes to take the form of bond market selloffs and the ten year busting up to much higher yields. While this indeed may still happen the current lending climate has absolutely given me hope that a large portion of homes in that 700-950 range may indeed get clobbered or not sold at all… For MANY wel to do people who buy in a much higher range, I don’t expect the credit crunch to hurt as much. However for the wage earning or dincs out there making 150k to 200k a year this indeed will hurt enough to make them think twice and maybe sit out for another extra year.
I think it will take awhile before we see any manifestation of this. Again, we are approaching the cyclical slower point of the market anyways. This should excasserbate things but it will be harder to tell. Give it a year to make really good measurements. I know that is excruciating long…we will see lots of isolated points of perhaps steep price reductions and that will be good. However I think we will see the usual end of summer and fall behavior of stubborn sellers who hibernate only to come out with HIGHER prices in February and March because their agent promised them it will improve then.
If the same credit climate exists where big premiums are tacked on to jumbos… then we should see some chunks…
but I have not and don’t think that thSD Realtor
August 11, 2007 at 10:29 PM in reply to: July Foreclosure and trend–huge impact on price in 6 months!? #73658ParticipantI have always thought and posted that the decline will run in a measured pace down (7-10%… more if you have condos or are in a susceptible neighborhood and less if you are not) as well with a caviot that a catalyst will help the decline. I also have always, and still now maintain that the decline will vary by neighborhoods. Susceptible in my example means downtown condos, and the various neighborhoods in outlying areas, and others in heavy built out areas like Eastlake, and others in many central locations that ran up but don’t have desireable schools and such. The foreclosure events have always been visible to me in as much that they will help to contribute in these types of areas or any other areas that they contribute substantially to the inventory. I have always been irritated to see that some neighborhoods that alot of us post about would be some of the last to fall because of lower foreclosure rates coupled with high desireability factors and current residents maybe not having great equity stakes but high paying jobs.
Now… I have to say that I have totally been blind to the credit crunch because I have anticipated rate hikes to take the form of bond market selloffs and the ten year busting up to much higher yields. While this indeed may still happen the current lending climate has absolutely given me hope that a large portion of homes in that 700-950 range may indeed get clobbered or not sold at all… For MANY wel to do people who buy in a much higher range, I don’t expect the credit crunch to hurt as much. However for the wage earning or dincs out there making 150k to 200k a year this indeed will hurt enough to make them think twice and maybe sit out for another extra year.
I think it will take awhile before we see any manifestation of this. Again, we are approaching the cyclical slower point of the market anyways. This should excasserbate things but it will be harder to tell. Give it a year to make really good measurements. I know that is excruciating long…we will see lots of isolated points of perhaps steep price reductions and that will be good. However I think we will see the usual end of summer and fall behavior of stubborn sellers who hibernate only to come out with HIGHER prices in February and March because their agent promised them it will improve then.
If the same credit climate exists where big premiums are tacked on to jumbos… then we should see some chunks…
but I have not and don’t think that thSD Realtor
ParticipantJimmy it may get 510 and it may not…. I guess we will see. I have a listing right near by in Summerset on Granby. Actually it is a very nice place but my seller is… well I won’t comment. We have been in escrow twice and he has turned down another offer. I am quite surprised at the amount of traffic we are getting even in times like this.
Anyways… did you guys get inside Penara and take a look? I mean it is okay. The sellers have taken care of it and the yard is okay size for the area. However the home needs to be staged. It just doesn’t show with anything that makes you go okay I really want this home. They may indeed get the 510.
SD Realtor
ParticipantJimmy it may get 510 and it may not…. I guess we will see. I have a listing right near by in Summerset on Granby. Actually it is a very nice place but my seller is… well I won’t comment. We have been in escrow twice and he has turned down another offer. I am quite surprised at the amount of traffic we are getting even in times like this.
Anyways… did you guys get inside Penara and take a look? I mean it is okay. The sellers have taken care of it and the yard is okay size for the area. However the home needs to be staged. It just doesn’t show with anything that makes you go okay I really want this home. They may indeed get the 510.
SD Realtor
ParticipantJimmy it may get 510 and it may not…. I guess we will see. I have a listing right near by in Summerset on Granby. Actually it is a very nice place but my seller is… well I won’t comment. We have been in escrow twice and he has turned down another offer. I am quite surprised at the amount of traffic we are getting even in times like this.
Anyways… did you guys get inside Penara and take a look? I mean it is okay. The sellers have taken care of it and the yard is okay size for the area. However the home needs to be staged. It just doesn’t show with anything that makes you go okay I really want this home. They may indeed get the 510.
SD Realtor
ParticipantI should have showed up with my two toddlers and let those two boys loose on the crowd…
cheerios and drool for everyone! the lads would have had the place cleard out in 20 minutes.
SD Realtor
-
AuthorPosts
