Forum Replies Created
-
AuthorPosts
-
June 3, 2007 at 10:02 PM in reply to: Looks like some of the Carmel Valley Condo Crackheads are starting to sober (slightly) #56289June 3, 2007 at 10:02 PM in reply to: Looks like some of the Carmel Valley Condo Crackheads are starting to sober (slightly) #56310
SD Realtor
ParticipantFat Lazy when I first posted about the home, you are correct, I incorrectly thought it was a 3/2.5 but as you said it wasnt. It is only a 2/2.5.
My point was that this is simply another case of seller in denial. Unfortunately it also is a case of a Realtor telling her exactly what she wanted to hear. Maybe she will get this price but I don’t think so.
SD Realtor
ParticipantLostkitty, the tax default process is painfully slow in California. Different states have different laws. In fact there are a few states left where you can get a very nice return on purchasing tax liens.
That said, some lenders will put clauses in the loan documents that will put a home into notice of default if the property taxes are not paid in a timely manner because they will always be subordinate to the tax man.
SD Realtor
ParticipantLostkitty, the tax default process is painfully slow in California. Different states have different laws. In fact there are a few states left where you can get a very nice return on purchasing tax liens.
That said, some lenders will put clauses in the loan documents that will put a home into notice of default if the property taxes are not paid in a timely manner because they will always be subordinate to the tax man.
SD Realtor
June 3, 2007 at 9:49 AM in reply to: Looks like some of the Carmel Valley Condo Crackheads are starting to sober (slightly) #56172Participantfat_lazy –
Did you see the Crest listing for 540k? I went to a listing appt with this seller and recommended a much lower selling price. She did not list with me because she was told by her Zip Realty agent that she should have no problem getting 540k. If you look at the sales comps for that floorplan they do not come close to meeting that price.
SD Realtor
June 3, 2007 at 9:49 AM in reply to: Looks like some of the Carmel Valley Condo Crackheads are starting to sober (slightly) #56191Participantfat_lazy –
Did you see the Crest listing for 540k? I went to a listing appt with this seller and recommended a much lower selling price. She did not list with me because she was told by her Zip Realty agent that she should have no problem getting 540k. If you look at the sales comps for that floorplan they do not come close to meeting that price.
SD Realtor
ParticipantReally good post cyphire. Specially the last part about keeping the wives/children happy. I do think that the few buyers who are still left in the pool, are much more responsible fiscally. Still I do know of a few who in no way shape or form should be shopping to buy. Yet that number is much smaller then it used to be so perhaps there is hope. As long as the government keeps their hands off the market, then it will do what it needs to do (which is continue to depreciate) and filter out those who should not be in it nor should have ever been in it. (10 year treasury is gonna bust through 5 in a heartbeat)
Pretty much agreed with all of your points.
SD Realtor (not sdr…who was here first)
ParticipantReally good post cyphire. Specially the last part about keeping the wives/children happy. I do think that the few buyers who are still left in the pool, are much more responsible fiscally. Still I do know of a few who in no way shape or form should be shopping to buy. Yet that number is much smaller then it used to be so perhaps there is hope. As long as the government keeps their hands off the market, then it will do what it needs to do (which is continue to depreciate) and filter out those who should not be in it nor should have ever been in it. (10 year treasury is gonna bust through 5 in a heartbeat)
Pretty much agreed with all of your points.
SD Realtor (not sdr…who was here first)
ParticipantFSD let me try…
LS there is not an argument that prices are down. However it appears to me your posts would be constructive if you presented them in a different manner. For instance instead of presenting a new post every time you find a new piece of data that bolsters your point of view, why not do something more akin to what JG has done. His data is presented in a comprehensive manner with alot of history to it that shows clear trends. (Note his data is embedded in sdr’s short sale thread but it is REALLY well organized and presented nicely)
Why not gather the monthly medians for all the high end zips for the past several years and plot them. Distinguish between SFR and attached homes. Things like that. Compare them to a few middle income or lower income zips.
Maybe keep it all in one post and update it regularly.
This may be a more constructive way of displaying what is going on. Statistical blips can be identified and dismissed. I think that will display your arguments in a much more organized manner then the current way you do things.
ParticipantFSD let me try…
LS there is not an argument that prices are down. However it appears to me your posts would be constructive if you presented them in a different manner. For instance instead of presenting a new post every time you find a new piece of data that bolsters your point of view, why not do something more akin to what JG has done. His data is presented in a comprehensive manner with alot of history to it that shows clear trends. (Note his data is embedded in sdr’s short sale thread but it is REALLY well organized and presented nicely)
Why not gather the monthly medians for all the high end zips for the past several years and plot them. Distinguish between SFR and attached homes. Things like that. Compare them to a few middle income or lower income zips.
Maybe keep it all in one post and update it regularly.
This may be a more constructive way of displaying what is going on. Statistical blips can be identified and dismissed. I think that will display your arguments in a much more organized manner then the current way you do things.
ParticipantNo way Chris… You better not stop posting on this subject. Your analysis on both stocks and bond markets has been by far some of the most useful information on this website.
Please keep beating the dead horse.
SD Realtor
ParticipantNo way Chris… You better not stop posting on this subject. Your analysis on both stocks and bond markets has been by far some of the most useful information on this website.
Please keep beating the dead horse.
SD Realtor
Participantradelow, and even ls –
It is frustrating to write the same thing over and over again. Once more, I agree 100% that renting is a much more fiscally correct thing to do. Should I write that 100 times? I guess I need to say it yet again, and again that yes I do tell my clients that renting is a better option then buying.
Is it not possible to fathom that some people buy for other reasons? I don’t understand this reluctance. I don’t read into any of sdr’s postings or my own postings that either of us are bullish on the market at all? Is that what you guys read into the postings? Saying that someone is buying a home in a falling market for various reasons that only pertain to them is not being bullish on the market.
Why do you interpret it in that manner? Saying that there is money on the sidelines and that people buy for other reasons then using housing as an investment is not being bullish.
********
Participantradelow, and even ls –
It is frustrating to write the same thing over and over again. Once more, I agree 100% that renting is a much more fiscally correct thing to do. Should I write that 100 times? I guess I need to say it yet again, and again that yes I do tell my clients that renting is a better option then buying.
Is it not possible to fathom that some people buy for other reasons? I don’t understand this reluctance. I don’t read into any of sdr’s postings or my own postings that either of us are bullish on the market at all? Is that what you guys read into the postings? Saying that someone is buying a home in a falling market for various reasons that only pertain to them is not being bullish on the market.
Why do you interpret it in that manner? Saying that there is money on the sidelines and that people buy for other reasons then using housing as an investment is not being bullish.
********
Participantcyphire – sdr and I have often disagreed on alot of points but sometimes our worlds collide in strange ways. I just closed a home for some buyers who I told over and over again that I would wait to buy. However, as much as they understood my rationale, the display of data I showed them, and the simple logic of long depreciation cycles, the bottom line is they wanted to buy. We worked together several months and they bought a nice place off of Olivenhain. They are a young couple and by no means are a 7 figure couple. They are going to be there long term, they have no intention of selling, and it is where they simply wanted to live.
I cannot say they will be happy in a year from now but I think they will love their home, enjoy the life, and in the long run they will indeed be happy.
One thing that ALL of us here on Piggington have in common is that we all see the same data. We all hear the media portrayals, we all see the BS about how housing is not failing… However one thing that sdr, myself, and I would imagine some other realtors see is that there are people out there who want to buy and that these are not stupid people. I am not saying it is right or wrong, I am not saying these buyers will prop up the market. Yet, they all have reasons that, to the chagrin of most people here, they will stick with. People may call sdr or myself out for hoodwinking these people, but it is not the case. I know it is not for me and I sincerely doubt it is for him either. Yes there are PLENTY of sheister agents out there.
Last month I had a similar situation with another couple who bought a place in Sabre Springs. These are the normal buyers that you spoke of. These are bright people, engineer and pilot… not stupid, fully realizing that they could be buying in the midst of a long downtrend. However they bought because that is the lifestyle they wanted. I am not defending them, but they are out there.
I just don’t know why people deny their existence or cannot fathom why any of them behave like this.
SD Realtor
-
AuthorPosts
