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SD Realtor
Participantgverdi did you put your dates in the close of escrow or off the market columns when you did your search?
SD Realtor
Participantgverdi did you put your dates in the close of escrow or off the market columns when you did your search?
SD Realtor
ParticipantJa Jolla Renter this is just a guess but I think they are sold out… not sure but when I looked on the MLS all 12 active listings are being listed by a few different sales agents, although the majority happen to be with Prudential. The point is that none of the comments say anything about contacting the Barratt sales office. Usually if there are units left, there is a comment in there about contacting the sales office. This of course… is my guess…there could very well be units still left for sale by the developer.
SD Realtor
ParticipantJa Jolla Renter this is just a guess but I think they are sold out… not sure but when I looked on the MLS all 12 active listings are being listed by a few different sales agents, although the majority happen to be with Prudential. The point is that none of the comments say anything about contacting the Barratt sales office. Usually if there are units left, there is a comment in there about contacting the sales office. This of course… is my guess…there could very well be units still left for sale by the developer.
SD Realtor
ParticipantI went on to the MLS and got the same numbers as sdr did. I did a search on detached homes and set the close of escrow dates per each time period.
SD Realtor
ParticipantI went on to the MLS and got the same numbers as sdr did. I did a search on detached homes and set the close of escrow dates per each time period.
SD Realtor
ParticipantMaybe 6 or 8 weeks ago I posted about a Coronado listing appt I went to. Nice couple but they were in reality simply using me to leverage their friend who was a realtor so that they could get a lower commission. Tough beans for me but it is part of the job.
They have a 2/2 condo on F street that just went pending. They had a contingent offer for awhile but they just did go pending. Anyways I am quite surprised that they go the price they were asking for.
Coronado is a highly desired destination. There is also alot of old money in Coronado. Both in state and out of state. I don’t view Coronado as ever having or being subject to much speculation. I am sure there was some, but not as much as other parts of town.
SD Realtor
ParticipantMaybe 6 or 8 weeks ago I posted about a Coronado listing appt I went to. Nice couple but they were in reality simply using me to leverage their friend who was a realtor so that they could get a lower commission. Tough beans for me but it is part of the job.
They have a 2/2 condo on F street that just went pending. They had a contingent offer for awhile but they just did go pending. Anyways I am quite surprised that they go the price they were asking for.
Coronado is a highly desired destination. There is also alot of old money in Coronado. Both in state and out of state. I don’t view Coronado as ever having or being subject to much speculation. I am sure there was some, but not as much as other parts of town.
SD Realtor
Participantskasavaraju, wantobuy made a very good point. The purchase contracts you sign with the developers are pretty much air tight. They are not filled with contingencies like standard contracts used for resale homes. I do not believe you will be able to get your deposit back simply because you are changing your mind.
Please do not confuse my statement with saying you should follow through with the purchase. I know different people buy for different reasons… I also am stumped as to how the new home sales have been able to hold up, but they have much to the chagrin of alot of bears.
Personally, the 4s Ranch housing is not anything that turns me on. Regardless, I do believe that one of two things will happen in 4s. Either the new homes offered by the developers will come down in price, OR there will be more distressed sellers there and maybe they will come to reality and try to undercut the developers. Either way time will tell and I do feel that in the long run the deposit you will lose will be regained by buying at a lower price IFF you have patience.
No gaurantees though.
SD Realtor
Participantskasavaraju, wantobuy made a very good point. The purchase contracts you sign with the developers are pretty much air tight. They are not filled with contingencies like standard contracts used for resale homes. I do not believe you will be able to get your deposit back simply because you are changing your mind.
Please do not confuse my statement with saying you should follow through with the purchase. I know different people buy for different reasons… I also am stumped as to how the new home sales have been able to hold up, but they have much to the chagrin of alot of bears.
Personally, the 4s Ranch housing is not anything that turns me on. Regardless, I do believe that one of two things will happen in 4s. Either the new homes offered by the developers will come down in price, OR there will be more distressed sellers there and maybe they will come to reality and try to undercut the developers. Either way time will tell and I do feel that in the long run the deposit you will lose will be regained by buying at a lower price IFF you have patience.
No gaurantees though.
SD Realtor
ParticipantRus
I think that the people who refuse to sell will not be able to tilt the market much. I believe that the must sells will dominate the market and thus be able to move it in a more significant manner. Now, the golden question, “what is going to be must sell?” heh heh heh…
This is most likely where we may diverge in opinions. IMO I think the must sells will obviously be distressed homeowners and these will drive the market. Of course I lump foreclosures, shorts and REO’s into this one category. There will be an unfortunate few who are not distressed but will get caught by the tide including divorced people, relocations and that type. He who is a don’t want to take the loss now will certainly continue to sit on the sidelines as long as he can make his payment.
The more interesting question to me is the where… My mantra is well known and repeatable…it will depend on type of home and location. Believe me I am not saying higher end will not go down, however I think it will go down in a less severe manner then corresponding middle or lower end. Condos will get whacked harder. Homes requiring higher overhead will go down more (Mello Roos and big HOA) then peer homes that do not.
Interesting point about SF… One thing that I feel will definitely support sales prices are rentals. Once we see properties pencil out, they will definitely get scooped up by investors. I do feel that at some point, an investor would say, okay, I will put 20% down and if I break even, I am happy because of the write off and because of the potential for appreciation. I still feel we have a long way to go before that point.
Just my guess…
SD Realtor
ParticipantRus
I think that the people who refuse to sell will not be able to tilt the market much. I believe that the must sells will dominate the market and thus be able to move it in a more significant manner. Now, the golden question, “what is going to be must sell?” heh heh heh…
This is most likely where we may diverge in opinions. IMO I think the must sells will obviously be distressed homeowners and these will drive the market. Of course I lump foreclosures, shorts and REO’s into this one category. There will be an unfortunate few who are not distressed but will get caught by the tide including divorced people, relocations and that type. He who is a don’t want to take the loss now will certainly continue to sit on the sidelines as long as he can make his payment.
The more interesting question to me is the where… My mantra is well known and repeatable…it will depend on type of home and location. Believe me I am not saying higher end will not go down, however I think it will go down in a less severe manner then corresponding middle or lower end. Condos will get whacked harder. Homes requiring higher overhead will go down more (Mello Roos and big HOA) then peer homes that do not.
Interesting point about SF… One thing that I feel will definitely support sales prices are rentals. Once we see properties pencil out, they will definitely get scooped up by investors. I do feel that at some point, an investor would say, okay, I will put 20% down and if I break even, I am happy because of the write off and because of the potential for appreciation. I still feel we have a long way to go before that point.
Just my guess…
SD Realtor
ParticipantThere are a TON of things wrong with the industry. I don’t even know where to begin. There are some absolutes that to me seem very basic. This is all my opinion so take it with many grains of salt…
First off I feel that the financing business should be totally detached from the real estate industry. To much room for conflicts of interest. The VAST majority of transactions that I have had go south seem to have a mortgage broker on the other side rather then a realtor.
The appraisal process is such a crucial lynch pin in all of this as well. It is hard for me to apply a useful critique to this industry because I do not have as much insight into it as Bugs and the other appraisers on the board. I know that it is competitive.
The real estate reporting mechanism needs to be scrubbed. Sales information is readily available and can be compiled in a much more accurate manner but it is not. Every reported sale should include credits, commission costs, repair costs, etc… this would really help identify the value of homes in a more accurate manner.
As far as the white lies part that just sucks. To me there is no such thing as a white lie… either you lie or you do not lie. As real estate is a second biz of mine, I have way to much to lose by not disclosing things and going by the book. This is not a plug for myself but my commissions are not enough to justify taking any chances and possibly risking my other assets due to a lawsuit. I have had to cancel listings or not take other listings because of situations that I did not want to put myself in.
That said, there are lots and lots of sales agents, who do what you are talking about above…. Or they don’t ask.. Kind of a don’t ask don’t tell…
SD Realtor
ParticipantThere are a TON of things wrong with the industry. I don’t even know where to begin. There are some absolutes that to me seem very basic. This is all my opinion so take it with many grains of salt…
First off I feel that the financing business should be totally detached from the real estate industry. To much room for conflicts of interest. The VAST majority of transactions that I have had go south seem to have a mortgage broker on the other side rather then a realtor.
The appraisal process is such a crucial lynch pin in all of this as well. It is hard for me to apply a useful critique to this industry because I do not have as much insight into it as Bugs and the other appraisers on the board. I know that it is competitive.
The real estate reporting mechanism needs to be scrubbed. Sales information is readily available and can be compiled in a much more accurate manner but it is not. Every reported sale should include credits, commission costs, repair costs, etc… this would really help identify the value of homes in a more accurate manner.
As far as the white lies part that just sucks. To me there is no such thing as a white lie… either you lie or you do not lie. As real estate is a second biz of mine, I have way to much to lose by not disclosing things and going by the book. This is not a plug for myself but my commissions are not enough to justify taking any chances and possibly risking my other assets due to a lawsuit. I have had to cancel listings or not take other listings because of situations that I did not want to put myself in.
That said, there are lots and lots of sales agents, who do what you are talking about above…. Or they don’t ask.. Kind of a don’t ask don’t tell…
SD Realtor
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