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SD Realtor
Participantstop the hype I am glad that you have posted. My brother actually works for KHov so I actually do have insight as to what is going on.
As far as the developers go, I have no doubt that that will survive because they always do. Agreed that this year we have not seen massive price reductions but what many new home buyers have not seen is the way that the phases have been released. Builders have substantially slowed down the phase releases in order to keep the demand strong. It is worked and will continue to work.
I should have been more succint in my description as to what I envision for the future. It is not such that I see the developers lowering their prices. It is such that I see people who could not afford the new homes running into defaults.
Scruffy seems to conveniently step around the hundreds/thousands of condos that were built in downtown SD not more then a few years ago that have already gone down. I personally have been tracking a beautiful multimillion dollar home in Del Mar Heights that has been offered several hundred thousand below purchase price of just 2 years ago and is in default.
Finally, if you read these posts you may have seen that I am one of the few that actually is understanding of people who buy now. That in fact I have been looking to buy for myself with full acknowledgement that there are other reasons for buying homes other then the sheer economics of the decision. If it was only my choice I would not buy but it is a family decision and harmony in the family is more important to me.
I also believe that the depreciation cycle will have different effects on different neighborhoods. All I can say is that I wish you the best of luck and we will see what happens. Like you I will be purchasing soon as well.
If you like I can post several cases of depreciation for higher end homes over a million dollars that were built within the past 5 years.
Should I post some for you?
SD Realtor
Participantstop the hype I am glad that you have posted. My brother actually works for KHov so I actually do have insight as to what is going on.
As far as the developers go, I have no doubt that that will survive because they always do. Agreed that this year we have not seen massive price reductions but what many new home buyers have not seen is the way that the phases have been released. Builders have substantially slowed down the phase releases in order to keep the demand strong. It is worked and will continue to work.
I should have been more succint in my description as to what I envision for the future. It is not such that I see the developers lowering their prices. It is such that I see people who could not afford the new homes running into defaults.
Scruffy seems to conveniently step around the hundreds/thousands of condos that were built in downtown SD not more then a few years ago that have already gone down. I personally have been tracking a beautiful multimillion dollar home in Del Mar Heights that has been offered several hundred thousand below purchase price of just 2 years ago and is in default.
Finally, if you read these posts you may have seen that I am one of the few that actually is understanding of people who buy now. That in fact I have been looking to buy for myself with full acknowledgement that there are other reasons for buying homes other then the sheer economics of the decision. If it was only my choice I would not buy but it is a family decision and harmony in the family is more important to me.
I also believe that the depreciation cycle will have different effects on different neighborhoods. All I can say is that I wish you the best of luck and we will see what happens. Like you I will be purchasing soon as well.
If you like I can post several cases of depreciation for higher end homes over a million dollars that were built within the past 5 years.
Should I post some for you?
SD Realtor
Participantscruffydog, apparently you are not going to respond to people who refute your post. I would like you to explain the loss I know of in downtown San Diego. I know of an escrow that just opened. 2004 purchase price was 620k. They are in escrow at 525k… They are lucky. Yesterday I went to a listing and the home was listed as vacant and is in default. When I arrived the sellers were there pulling the washing machine out of it. They had already stripped other things out of it. It is also LISTED on the MLS over 100k less then the purchase price…
Anyways please do not post and run. Try to stand up and defend your points.
SD Realtor
Participantscruffydog, apparently you are not going to respond to people who refute your post. I would like you to explain the loss I know of in downtown San Diego. I know of an escrow that just opened. 2004 purchase price was 620k. They are in escrow at 525k… They are lucky. Yesterday I went to a listing and the home was listed as vacant and is in default. When I arrived the sellers were there pulling the washing machine out of it. They had already stripped other things out of it. It is also LISTED on the MLS over 100k less then the purchase price…
Anyways please do not post and run. Try to stand up and defend your points.
SD Realtor
ParticipantPretty interesting stuff dac… pretty interesting stuff…
SD Realtor
ParticipantPretty interesting stuff dac… pretty interesting stuff…
SD Realtor
ParticipantHi fromnj, your explanation clears things up. I can understand why the realtor you talked to also backed off.
Also Jim is a great realtor, and his information is posted earlier in this thread. If you want to send me email you can email me at [email protected].I would like you to seriously consider renting for a year or two. Especially if you are just moving out here. It would give you much more time to learn about the area, and more important, I think you will end up saving money, ESPECIALLY if you are thinking about buying a new home. I believe that the new homes being purchased in many developments will be cheaper in the next few years.
SD Realtor
ParticipantHi fromnj, your explanation clears things up. I can understand why the realtor you talked to also backed off.
Also Jim is a great realtor, and his information is posted earlier in this thread. If you want to send me email you can email me at [email protected].I would like you to seriously consider renting for a year or two. Especially if you are just moving out here. It would give you much more time to learn about the area, and more important, I think you will end up saving money, ESPECIALLY if you are thinking about buying a new home. I believe that the new homes being purchased in many developments will be cheaper in the next few years.
SD Realtor
Participantfromnj –
I am kind of having a hard time understanding the post. I apologize for that. I do not understand why your father in law would not want to represent you regardless of whether the home you are seeking is a new home or a resale home. I agree new homes are ALOT less work for the agent. Still it seems strange for me.
You wrote
“So, I went to see one realtor and asked her if she can represent us only for the house I found on the resale market, and she was very upset when I told her so. So, it seems that I have no option to have a realtor. ”
This statement threw me off. Are you saying you found a house you liked and went to a realtor to aske her if she would represent you but only for this single house. Is that correct?
Anyways I am sorry for not understanding. There are good realtors and bad ones. Rustico posts here and he seems good. sdr posts here and he seems good as well. Anyways if you want to post your email address I can email you or sdr has been very nice and posted my contact information in a previous post on this thread so you can call me.
SD Realtor
Participantfromnj –
I am kind of having a hard time understanding the post. I apologize for that. I do not understand why your father in law would not want to represent you regardless of whether the home you are seeking is a new home or a resale home. I agree new homes are ALOT less work for the agent. Still it seems strange for me.
You wrote
“So, I went to see one realtor and asked her if she can represent us only for the house I found on the resale market, and she was very upset when I told her so. So, it seems that I have no option to have a realtor. ”
This statement threw me off. Are you saying you found a house you liked and went to a realtor to aske her if she would represent you but only for this single house. Is that correct?
Anyways I am sorry for not understanding. There are good realtors and bad ones. Rustico posts here and he seems good. sdr posts here and he seems good as well. Anyways if you want to post your email address I can email you or sdr has been very nice and posted my contact information in a previous post on this thread so you can call me.
SD Realtor
ParticipantKeep pressing on him to rent… Invite him over to a bbq to your house then just happen to show him a computer that happens to be logged on to this site…
Otherwise I like some of the older homes in La Costa Valley… Perhaps something in Solana Beach? I am not overly thrilled with Olivenhain. I do like the Elfin Forest recommendation but is that the lifestyle he will like?
What is important to him? Coastal proximity? School districts?
SD Realtor
ParticipantKeep pressing on him to rent… Invite him over to a bbq to your house then just happen to show him a computer that happens to be logged on to this site…
Otherwise I like some of the older homes in La Costa Valley… Perhaps something in Solana Beach? I am not overly thrilled with Olivenhain. I do like the Elfin Forest recommendation but is that the lifestyle he will like?
What is important to him? Coastal proximity? School districts?
SD Realtor
ParticipantPretty insightful post bubble_cont… I agree with your analysis but I think the sellers who are not “must sell” will hide back in their turtle shells… Some will not but I think most will… So to me I see 2007 mimicking 2005 in the sense that inventory will be higher later in the summer like 05…
SD Realtor
ParticipantPretty insightful post bubble_cont… I agree with your analysis but I think the sellers who are not “must sell” will hide back in their turtle shells… Some will not but I think most will… So to me I see 2007 mimicking 2005 in the sense that inventory will be higher later in the summer like 05…
SD Realtor
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