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SD Realtor
ParticipantFSD – Correct, as you can see in my post, I used the word average which equates to the mean and NOT the median.
SD Realtor
SD Realtor
ParticipantFSD – Correct, as you can see in my post, I used the word average which equates to the mean and NOT the median.
SD Realtor
SD Realtor
ParticipantThanks JG –
So here is a point… The bears will hate me for this…
If I am going to move to La Jolla, I am not going to buy a condo. I am going to buy a detached home. What would be interesting to me is to see the depreciation in detached homes in La Jolla. UNDOUBTEDLY they will have depreciated. I will never argue that. JG your data is consistent so that is very true and telling of the situation. All things scale. It would be informative to see the data for detached homes only. Again, I am posting this blind without looking at the data. The only single data point I took was looking at detached home sales for April of 2007 and there were 31 closings with an average pricing of a bit over 2 million.
Anyways, I am still in the camp that home type and location will vary in terms of the amount they will depreciate. No hard data on that. Just my opinion.
SD Realtor
SD Realtor
ParticipantThanks JG –
So here is a point… The bears will hate me for this…
If I am going to move to La Jolla, I am not going to buy a condo. I am going to buy a detached home. What would be interesting to me is to see the depreciation in detached homes in La Jolla. UNDOUBTEDLY they will have depreciated. I will never argue that. JG your data is consistent so that is very true and telling of the situation. All things scale. It would be informative to see the data for detached homes only. Again, I am posting this blind without looking at the data. The only single data point I took was looking at detached home sales for April of 2007 and there were 31 closings with an average pricing of a bit over 2 million.
Anyways, I am still in the camp that home type and location will vary in terms of the amount they will depreciate. No hard data on that. Just my opinion.
SD Realtor
SD Realtor
ParticipantNice!!
I don’t have much on yuma but we have very good friends in Havasu and it has just been a graveyard out there.
SD Realtor
SD Realtor
ParticipantNice!!
I don’t have much on yuma but we have very good friends in Havasu and it has just been a graveyard out there.
SD Realtor
SD Realtor
ParticipantThanks jg that is what I thought. Also again, my assumption is that you gathered attached and detached homes.
Latesummer brought out what I believe is to be the most important point, the lower sales volume. This is by far a more telling indicator to me then the median.
SD Realtor
SD Realtor
ParticipantThanks jg that is what I thought. Also again, my assumption is that you gathered attached and detached homes.
Latesummer brought out what I believe is to be the most important point, the lower sales volume. This is by far a more telling indicator to me then the median.
SD Realtor
SD Realtor
ParticipantFSD you make a very good point which, I think, is kind of providing some validation to some of the counterpoints posted in this thread. That is, monthly median data is perhaps a bit unreliable to point out long term trends. There is not doubt whatsoever in my mind of prolonged depreciation over the next few years. I will say it is only my opinion that higher desired neighborhoods will not be hit as hard as less desired neighborhoods but that is only an opinion and I could very well be wrong. However I am just not sure I agree with the pace of depreciation that people are preaching, almost longing to find data to back up. By the same token I can find ALOT of pricing that is at 2004 and even 2003 levels for many areas around the county.
My post was simply to correlate the graph to the actual MLS data for detached homes for the month of April of 07.
SD Realtor
ParticipantFSD you make a very good point which, I think, is kind of providing some validation to some of the counterpoints posted in this thread. That is, monthly median data is perhaps a bit unreliable to point out long term trends. There is not doubt whatsoever in my mind of prolonged depreciation over the next few years. I will say it is only my opinion that higher desired neighborhoods will not be hit as hard as less desired neighborhoods but that is only an opinion and I could very well be wrong. However I am just not sure I agree with the pace of depreciation that people are preaching, almost longing to find data to back up. By the same token I can find ALOT of pricing that is at 2004 and even 2003 levels for many areas around the county.
My post was simply to correlate the graph to the actual MLS data for detached homes for the month of April of 07.
SD Realtor
Participantjg – Just curious but on your chart, I assume each dot is a data point that represents the median price for a particular month correct? I am not disparaging anyone here but I am trying to understand the chart better. For instance I took the simple average of the sales for 92037 resale homes from 4/1/07 – 5/1/07 and my average came out to 2.217 million for the 31 detached homes that were sold. Now I didn’t use condos, just detached homes.
Anyways like I said, I am just trying to better understand the data you presented.
SD Realtor
SD Realtor
Participantjg – Just curious but on your chart, I assume each dot is a data point that represents the median price for a particular month correct? I am not disparaging anyone here but I am trying to understand the chart better. For instance I took the simple average of the sales for 92037 resale homes from 4/1/07 – 5/1/07 and my average came out to 2.217 million for the 31 detached homes that were sold. Now I didn’t use condos, just detached homes.
Anyways like I said, I am just trying to better understand the data you presented.
SD Realtor
SD Realtor
ParticipantI would agree with you 100% on that Radelow.
SD Realtor
SD Realtor
ParticipantI would agree with you 100% on that Radelow.
SD Realtor
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