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SD Realtor
ParticipantAgreed with nsr completely. Another thing to point out flyer… If indeed you are in such a situation, being cash rich, or perhaps soon to be cash rich, you will be in the catbirds seat with respect to making a purchase. The longer you can hold out, the better.
SD Realtor
ParticipantAgreed with nsr completely. Another thing to point out flyer… If indeed you are in such a situation, being cash rich, or perhaps soon to be cash rich, you will be in the catbirds seat with respect to making a purchase. The longer you can hold out, the better.
SD Realtor
Participantflyer –
Not remedial at all… If you are planning to pay off your loan in such a short time then you would want to simply put any programs you are considering on a spreadsheet and see which program bears out the least cost for you. In such a short time, the origination costs of the loan will be a large factor. Do you see what I mean? Since you will pay it off before it resets or converts, it doesn’t really matter.
SD Realtor
Participantflyer –
Not remedial at all… If you are planning to pay off your loan in such a short time then you would want to simply put any programs you are considering on a spreadsheet and see which program bears out the least cost for you. In such a short time, the origination costs of the loan will be a large factor. Do you see what I mean? Since you will pay it off before it resets or converts, it doesn’t really matter.
SD Realtor
Participantbetting on fall –
Yes I would classify the 91913, 14, and 15 areas in the exact same manner as you have posted. Well overpriced, little to no activity at current pricing, or at previous pricing, exceedingly high foreclosure rate and has been that way for a few months, and a base of buyers that are not the most well qualified people to begin with… and of course way way way overbuilt.
I would agree with your premise that dropping the prices in the amounts you spoke of would be the best way for them to sell. How many sellers will actually heed that advice is another question but I totally agree with your thought process on that entire area…
SD Realtor
Participantbetting on fall –
Yes I would classify the 91913, 14, and 15 areas in the exact same manner as you have posted. Well overpriced, little to no activity at current pricing, or at previous pricing, exceedingly high foreclosure rate and has been that way for a few months, and a base of buyers that are not the most well qualified people to begin with… and of course way way way overbuilt.
I would agree with your premise that dropping the prices in the amounts you spoke of would be the best way for them to sell. How many sellers will actually heed that advice is another question but I totally agree with your thought process on that entire area…
SD Realtor
ParticipantTone, the sarcasm was an easy way to illustrate my point without typing several paragraphs. That point is that different areas, and different housing types will depreciate at different rates. Do you yourself really believe Solana Beach, Del Mar, Scripps, and neighborhoods where most of the people who post here will drop 20% in a matter of months?
Honestly, do you believe that?
Now can places like El Cajon, Eastlake, downtown condos, UTC condos drop 20% in a matter of months? Perhaps, or at least there is a higher probability.
I think that a rational statement would be,
“Locales that cater to buyers that traditionally relied upon riskier finance vehicles that are now not available will suffer substantially faster then previously thought. Furthermore locales that have substantial inventory that is distressed will indeed suffer more and will be prone to a “chunk downward”. Locales that have both of these factors have a very high probability of seeing tremendous depreciation in a short time. ”
To me, that is a more rational, way of stating the premise.
Indeed I think over time the decline will creep all over. However to me it is much harder to quantify how much and when.
Realtor
ParticipantTone, the sarcasm was an easy way to illustrate my point without typing several paragraphs. That point is that different areas, and different housing types will depreciate at different rates. Do you yourself really believe Solana Beach, Del Mar, Scripps, and neighborhoods where most of the people who post here will drop 20% in a matter of months?
Honestly, do you believe that?
Now can places like El Cajon, Eastlake, downtown condos, UTC condos drop 20% in a matter of months? Perhaps, or at least there is a higher probability.
I think that a rational statement would be,
“Locales that cater to buyers that traditionally relied upon riskier finance vehicles that are now not available will suffer substantially faster then previously thought. Furthermore locales that have substantial inventory that is distressed will indeed suffer more and will be prone to a “chunk downward”. Locales that have both of these factors have a very high probability of seeing tremendous depreciation in a short time. ”
To me, that is a more rational, way of stating the premise.
Indeed I think over time the decline will creep all over. However to me it is much harder to quantify how much and when.
Realtor
ParticipantWow 20-40%! That is truly insightful.
I will tell my wife we can get that house in Solana Beach by Christmas. Actually maybe we will wait until Easter and go for Del Mar instead. Forget about this Scripps Ranch area. It is west of 5 for me!
See you there!
SD Realtor
ParticipantWow 20-40%! That is truly insightful.
I will tell my wife we can get that house in Solana Beach by Christmas. Actually maybe we will wait until Easter and go for Del Mar instead. Forget about this Scripps Ranch area. It is west of 5 for me!
See you there!
SD Realtor
ParticipantRad – MLS list only what realtors list on the MLS. If a developer chooses not to list a home on the MLS, then that is their choice.
SD Realtor
ParticipantRad – MLS list only what realtors list on the MLS. If a developer chooses not to list a home on the MLS, then that is their choice.
SD Realtor
ParticipantI have a fantastic spreadsheet for ya!
(sdr I know you are smiling)
ParticipantI have a fantastic spreadsheet for ya!
(sdr I know you are smiling)
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