[SD Realtor]

jztz – yeah that is my hope as well… That it is still to early in the cycle. Hopefully as the cycle continues the short sales go into foreclosure, the REO inventory goes up, and the prices come down.

I think RLA had a very inciteful post on this thread.

Finally, with regards to the MLS run by Sandicor, the only sales that are recorded on the Sandicor MLS are those that are sold through the MLS. Thus, FSBOs, trustee sales, anything that was NOT actively marketed in Sandicor will not show up as a sold. However, there are more and more short sales, and REO properties now being displayed on the MLS so those sales will be recorded on the MLS should they complete.

SD Realtor

[SD Realtor]

NSR I have a few different clients who have been tracking short sales and even some REO properties. One common theme is that in all of the cases be it short sales or REO properties there seems to be severe reluctance on the part of the bank to negotiate. It is disappointing.

SD Realtor

[SD Realtor]

contentrenter –

Currently there are 492 active listings and 94 pendings in 92101.

Since 11/1/06 there have been 54 solds, 250 expireds, 40 withdrawns, and 83 cancelleds.

[SD Realtor]

Hi Perry –

Astute observation. The MLS search mechanism is somewhat crude. For instance, you can do a search on actives, pendings, solds, cancelled, withdrawns etc…You can specify timeframes as well. For instance, show me how many sales or cancellations occurred for listings that came off the market between oct 1 – oct 30, 2006. If you listed your home, and then your listing was expired or cancelled, then you relisted, your active listing is considered new. This is not the case for withdrawn because under withdrawn status you are still under contract. The clock stops (with regards to the days on the market) and when the listing is moved from withdrawn back to active the clock starts again.

One very useful item in the MLS is the listing history. You can look at the listing history for INDIVIDUAL listings and it gives you the chronology of the listing, like when the prices have changed. Again though, the history is ONLY for that particular active listing. The history will never tell you that that listing ever expired or cancelled.

*****

Unfortunately when you go to the statistics page you get overall information, not information on individual listings.

Say I did a search on actives for a particular zip code, and found there were 110 actives and then I did a search on expired/cancelled/withdrawns for the same zip code for homes that came off the market within the past 90 days and found there were 50, I would have to manually look at each list and cross compare to see what you are looking for. The MLS may have a way to automatically do it but I do not know of it. Other Realtors may and hopefully they will post it.

[SD Realtor]

Regents had changed ownership last spring. The original owners found someone to take it off thier hands. The homeowners were pissed because the subsequent phase releases were selling at reduced prices. However even those phase releases were WAY overpriced for the area. So what you say wouldn’t surprise me a bit contra…

SD Realtor

[SD Realtor]

I agree with you IBJ… I am both an owner of a few properties but I am renting cuz I need to buy because my family outgrew our home but I didn’t feel the prices were justified.

There have been lots of posts with banter about when to buy, the cost of renting verses buying, etc… While there is no gaurantee that San Diego’s prices will ever be cheaper to own then to rent, (personally that will be tough) I think there will be some more concrete buy signals.

IMO the easiest one will be when yoy sales level off to match the previous year. When that happens, we may not be to happy because the pricing may not be what buyers want, but pricing is determined by the market.

[SD Realtor]

sdr –

I find your statements quite curious.

As you already know, I do not feel that the amount of money that goes towards real estate is justified at all. Real estate professionals, brokerages, and the industry in general have enjoyed the appreciation of housing and reaped tremendous benefits without really innovating the industry. I am not saying you do not work hard, I am just saying that if you sold 10 homes in 1998 and then sold those same 10 homes in 2004, I don’t think the amount of work you did was any different yet your increase in salary was quite substantial.

Has your full service improved as much as your net income has grown due to housing apprecitation?

I also believe that the entire real estate machine from NAR on down pretty much reeks. We are salesman sdrealtor, not much more or less then that. I am sure you are top notch and have done a valuable service to all of your clients and I am not disparaging you personally at all, NOR HAVE I EVER DONE SO. I am very happy to say we have different opinions on how much compensation we “deserve” for our jobs and have been quite content to leave it at that but you obviously are not and continue to go out of your way to prove any alternative other then your “full service” approach will fail including FSBO.

Your animosity towards me has been present since day 1 and I do not sweat it at all. More then once you have brought up my own house that was on the market, accused me of shilling, and here you are posting your perfect record and asking me about my stats. I am sure after I post them you will accuse me of shilling or you will say why would anyone list with me. If I don’t list them you will accuse me of hiding from your questioning.

In addition to real estate I direct a staff of electrical engineers for custom ASIC architecture for network and communications designs. My life is not greatly affected regardless of how my brokerage does. I offer people alternatives and commission rebates. My clients all think very highly of me and that is what is important to me. I think it is actually somewhat curious that an electrical engineer can come in, do this part time and be as successful as I have been.

I give people my opinion as to what they should sell thier homes for but if they want to price thier home different, that is fine with me, I take the listing and tell them quite honestly what I think of thier pricing and what affect it will have on traffic they will see or not see. If the home is not priced right the home does not sell and the listing will expire and/or cancel. Since you seem to have a great interest in what I do you can look the homes that have expired or cancelled and see what they repriced with when they worked with another agent. In EVERY case they repriced less. My own sister in law works for the same organization you do, and I have referred clients to her with no problem.

I have nothing to hide sdr however will not put the addresses of my listings as you would most likely accuse me of not following the code of the Realtors. My stats this year are as follows:

2006 Closings – 17

2006 Expireds – 20

I did not include multiple expirations on the same property in that list.

Out of those expireds, 4 of them relisted with me and sold. 1 of those expireds relisted with me and is pending. 1 of them relisted with me and is still active. 10 did not relist with anyone. 4 of them relisted with another brokerage, 3 are active and 1 is pending.

[SD Realtor]

sdr –

I find your statements quite curious.

As you already know, I do not feel that the amount of money that goes towards real estate is justified at all. Real estate professionals, brokerages, and the industry in general have enjoyed the appreciation of housing and reaped tremendous benefits without really innovating the industry. I am not saying you do not work hard, I am just saying that if you sold 10 homes in 1998 and then sold those same 10 homes in 2004, I don’t think the amount of work you did was any different yet your increase in salary was quite substantial.

Has your full service improved as much as your net income has grown due to housing apprecitation?

I also believe that the entire real estate machine from NAR on down pretty much reeks. We are salesman sdrealtor, not much more or less then that. I am sure you are top notch and have done a valuable service to all of your clients and I am not disparaging you personally at all, NOR HAVE I EVER DONE SO. I am very happy to say we have different opinions on how much compensation we “deserve” for our jobs and have been quite content to leave it at that but you obviously are not and continue to go out of your way to prove any alternative other then your “full service” approach will fail including FSBO.

Your animosity towards me has been present since day 1 and I do not sweat it at all. More then once you have brought up my own house that was on the market, accused me of shilling, and here you are posting your perfect record and asking me about my stats. I am sure after I post them you will accuse me of shilling or you will say why would anyone list with me. If I don’t list them you will accuse me of hiding from your questioning.

In addition to real estate I direct a staff of electrical engineers for custom ASIC architecture for network and communications designs. My life is not greatly affected regardless of how my brokerage does. I offer people alternatives and commission rebates. My clients all think very highly of me and that is what is important to me. I think it is actually somewhat curious that an electrical engineer can come in, do this part time and be as successful as I have been.

I give people my opinion as to what they should sell thier homes for but if they want to price thier home different, that is fine with me, I take the listing and tell them quite honestly what I think of thier pricing and what affect it will have on traffic they will see or not see. If the home is not priced right the home does not sell and the listing will expire and/or cancel. Since you seem to have a great interest in what I do you can look the homes that have expired or cancelled and see what they repriced with when they worked with another agent. In EVERY case they repriced less. My own sister in law works for the same organization you do, and I have referred clients to her with no problem.

I have nothing to hide sdr however will not put the addresses of my listings as you would most likely accuse me of not following the code of the Realtors. My stats this year are as follows:

2006 Closings – 17

2006 Expireds – 20

I did not include multiple expirations on the same property in that list.

Out of those expireds, 4 of them relisted with me and sold. 1 of those expireds relisted with me and is pending. 1 of them relisted with me and is still active. 10 did not relist with anyone. 4 of them relisted with another brokerage, 3 are active and 1 is pending.

[SD Realtor]

sdr –

You are correct. I did indeed try to sell my home in late 05 but the slide had already happened and given the equity I have in it and the rent I am receiving, it is a good deal to hold onto it. Also my decision not to sell was made with the knowledge that it will be a long term decision, (at least several years) whereas many people fell off the market only to come back on with hopes for a change in the overall conditions. As you see I have not reentered the market.

As you AND I know, sellers with decent equity are probably going to be the last people to lower thier prices or they simply come off of the market. Still though I am puzzled by the duration of some of the short sales, REO, and foreclosure listings. Doesn’t that puzzle you as well? I guess you could say I am effectively paying todays prices but I am renting right now so I am not sure if I agree with you. I don’t think I am effectively paying todays prices until I buy a home.

So given the 15-16k resale homes/condos on the market today, do you think the bulk of sellers are like me, high equity in the home, give it a shot, and if it doesn’t sell pull it off? I guess this could be true and will keep the market at it’s current levels until the profiles of the sellers change to be dominated by more desperate sellers.

AN – you are correct. You said that you and I are not serious buyers. I would say you and I are serious buyers if we get the price we like. Until then, I would categorize us as selective buyers.

[SD Realtor]

Hi Lost Kitty –

I have paid for a couple of different foreclosure sites. On the other thread that Eagleeye queried you about where you got your foreclosure information I incorrectly implied that paying was the only way to get the data. That was VERY incorrect as you pointed out foreclosure.com and many other sites give you the information for free. I incorrectly was assuming that the information sought was contact information for the distressed homeowner who had a lein or NOD.

Sorry about that incorrect post Eagleeye.

In general I have found that the contact information that some of the foreclosure sites have provided is pretty much hit and miss. Lots of times it is outdated or old or the person has already been contacted by alot of other people already. In general it is not been a worthwhile investment but I keep trying them out.

SD Realtor

[SD Realtor]

Lendingbubble has a good point. As a potential buyer I am still very frustrated by the fact that pricing has not come anywhere close to what I would consider reasonable levels. It is not just the homeowners selling that frustrates me either, the REO, short sales and foreclosures are still priced at higher points as well. Yes the market times have grown as has inventory. Yet there STILL are buyers out there and they STILL are paying prices that I will not pay. The market is still churning and I think it will continue to do so.

I guess I wouldn’t call it a Sellers market by the standards of the past few years. However it comes nowhere near the true definition of a buyers market.

SD Realtor

[SD Realtor]

PC I could never see a case where Mr Smith would discourage buying… Think about it… just for starters if he acknowledges a depreciating market, he opens the floodgates for people (new homeowners) to apply for reassessments.

I bet many people who bought a home or ESPECIALLY a condo in late 04 or early/mid 05 could save some money on thier property taxes if they applied but they don’t even know that.

SD Realtor

[SD Realtor]

Eagle –

Lots of the services on line will provide you with the lists for a fee. They will give you NODs, foreclosures, tax leins as well. Some of them charge weekly and some monthly. Also notifications are published as well.

[SD Realtor]

I think your analysis is pretty sound. Right now I am renting and our landlord just informed us that he is selling the home we are renting from him later this summer. So I just started looking around at other rentals similar to the one we are in and there are a few out there at our same rent. It is pretty much a supply and demand issue. I don’t believe there are thousands of people selling homes to then become tenants. So this is not gonna push the rental market. Really the only thing I can see that would push the rental market would be something that affects all landlords such as a substantial rise in property taxes or something like that. To sum it up I agree with you 100%.

SD Realtor

[SD Realtor]

Steve this makes me think about that Poway listing I posted about awhile back.

SD Realtor

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