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SD Realtor
ParticipantHi Double –
Yep they closed at 760,500 as a short sale. Unfortunately that is well above the 606k that they paid for the home back in 2003.
Also more news that has irritated me as a potential buyer…The Riesling home that was at 695k-750k has been pending for awhile now. (That is the Cookie Lee lady) and the home in my cul de sac also went pending awhile back at 720k-770k. The activity that we have seen this spring was something that I 100% did expect and even predicted. Yet I am pretty sure that by the beginning of summer the depreciation will continue.
SD Realtor
ParticipantHi Double –
Yep they closed at 760,500 as a short sale. Unfortunately that is well above the 606k that they paid for the home back in 2003.
Also more news that has irritated me as a potential buyer…The Riesling home that was at 695k-750k has been pending for awhile now. (That is the Cookie Lee lady) and the home in my cul de sac also went pending awhile back at 720k-770k. The activity that we have seen this spring was something that I 100% did expect and even predicted. Yet I am pretty sure that by the beginning of summer the depreciation will continue.
SD Realtor
February 21, 2008 at 10:18 PM in reply to: Are you looking to get in on the ground floor? Think again. #157405ParticipantBugs I agree with your post. Based on my own thoughts, I am really leaning towards the back end of the depreciate cycle for substantial drops towards more desireable homes in more desireable areas. Of course a desireable home is in the eyes of the beholder.
The more I look at this cycle, the more I think it will indeed differ from the previous depreciation cycle. I see a much more wider variation in the timing of the bottom for various regions. Indeed I can envision the lower end areas dropping more… perhaps to the levels you mentioned and then they will stay flat or perhaps even move up while the higher end areas may indeed still be falling.
I also think there very well could be an underestimation about the stubborness of sellers with heavy equity stakes of yielding to price pressures and simply deciding to ride it out.
Of course we need to see what happens with employment and the 10 year.
SD Realtor
February 21, 2008 at 10:18 PM in reply to: Are you looking to get in on the ground floor? Think again. #157696ParticipantBugs I agree with your post. Based on my own thoughts, I am really leaning towards the back end of the depreciate cycle for substantial drops towards more desireable homes in more desireable areas. Of course a desireable home is in the eyes of the beholder.
The more I look at this cycle, the more I think it will indeed differ from the previous depreciation cycle. I see a much more wider variation in the timing of the bottom for various regions. Indeed I can envision the lower end areas dropping more… perhaps to the levels you mentioned and then they will stay flat or perhaps even move up while the higher end areas may indeed still be falling.
I also think there very well could be an underestimation about the stubborness of sellers with heavy equity stakes of yielding to price pressures and simply deciding to ride it out.
Of course we need to see what happens with employment and the 10 year.
SD Realtor
February 21, 2008 at 10:18 PM in reply to: Are you looking to get in on the ground floor? Think again. #157710ParticipantBugs I agree with your post. Based on my own thoughts, I am really leaning towards the back end of the depreciate cycle for substantial drops towards more desireable homes in more desireable areas. Of course a desireable home is in the eyes of the beholder.
The more I look at this cycle, the more I think it will indeed differ from the previous depreciation cycle. I see a much more wider variation in the timing of the bottom for various regions. Indeed I can envision the lower end areas dropping more… perhaps to the levels you mentioned and then they will stay flat or perhaps even move up while the higher end areas may indeed still be falling.
I also think there very well could be an underestimation about the stubborness of sellers with heavy equity stakes of yielding to price pressures and simply deciding to ride it out.
Of course we need to see what happens with employment and the 10 year.
SD Realtor
February 21, 2008 at 10:18 PM in reply to: Are you looking to get in on the ground floor? Think again. #157718ParticipantBugs I agree with your post. Based on my own thoughts, I am really leaning towards the back end of the depreciate cycle for substantial drops towards more desireable homes in more desireable areas. Of course a desireable home is in the eyes of the beholder.
The more I look at this cycle, the more I think it will indeed differ from the previous depreciation cycle. I see a much more wider variation in the timing of the bottom for various regions. Indeed I can envision the lower end areas dropping more… perhaps to the levels you mentioned and then they will stay flat or perhaps even move up while the higher end areas may indeed still be falling.
I also think there very well could be an underestimation about the stubborness of sellers with heavy equity stakes of yielding to price pressures and simply deciding to ride it out.
Of course we need to see what happens with employment and the 10 year.
SD Realtor
February 21, 2008 at 10:18 PM in reply to: Are you looking to get in on the ground floor? Think again. #157791ParticipantBugs I agree with your post. Based on my own thoughts, I am really leaning towards the back end of the depreciate cycle for substantial drops towards more desireable homes in more desireable areas. Of course a desireable home is in the eyes of the beholder.
The more I look at this cycle, the more I think it will indeed differ from the previous depreciation cycle. I see a much more wider variation in the timing of the bottom for various regions. Indeed I can envision the lower end areas dropping more… perhaps to the levels you mentioned and then they will stay flat or perhaps even move up while the higher end areas may indeed still be falling.
I also think there very well could be an underestimation about the stubborness of sellers with heavy equity stakes of yielding to price pressures and simply deciding to ride it out.
Of course we need to see what happens with employment and the 10 year.
SD Realtor
ParticipantI would agree with your assessment Amy.
SD Realtor
ParticipantI would agree with your assessment Amy.
SD Realtor
ParticipantI would agree with your assessment Amy.
SD Realtor
ParticipantI would agree with your assessment Amy.
SD Realtor
ParticipantI would agree with your assessment Amy.
SD Realtor
Participantsdr you are correct. If I were to want to live in Balearas, (which I do not as it is not my type of neighborhood) then I would have lived up where sdrealtor is talking about. The recent purchase on Amber Lane has a great view and the guy who purchased is now looking for another home for his brother who lives out of state but is going to move here.
The answer about the school district is correct.
Farbet with regards to your other observations, they are quite keen. I really wish I was as sharp as you are. Obviously as one of the listings in question is a listing I have I cannot provide comments in a forum that is public like this. Suffice it to say the seller has selected the pricing of the home. So keep up the brilliant insight please.
SD Realtor
Participantsdr you are correct. If I were to want to live in Balearas, (which I do not as it is not my type of neighborhood) then I would have lived up where sdrealtor is talking about. The recent purchase on Amber Lane has a great view and the guy who purchased is now looking for another home for his brother who lives out of state but is going to move here.
The answer about the school district is correct.
Farbet with regards to your other observations, they are quite keen. I really wish I was as sharp as you are. Obviously as one of the listings in question is a listing I have I cannot provide comments in a forum that is public like this. Suffice it to say the seller has selected the pricing of the home. So keep up the brilliant insight please.
SD Realtor
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