[sdnerd]

Yeah, I’m aware the Intuit area isn’t CV. But it’s pretty darn close & has most of the perks.

As you go East on the 56, prices start to fall. But if you stick to strictly the CV area, prices are pretty strong. There are a lot of nice areas along the general 56 area, and all fall into the top end school districts.

I would agree CV prices need to come down if prices 2 exits down the 56 are significantly lower. The thing is, I don’t think that many people in CV are that distressed and I expect most will ride out the downturn.

Now the newer areas East of CV – the # of distressed sellers is going to go up IMHO. That’s mainly where I’ve been focusing my eyes. Problem there is it’s a MR and HOA minefield – got to be careful where you step.

[sdnerd]

Yeah, I’m aware the Intuit area isn’t CV. But it’s pretty darn close & has most of the perks.

As you go East on the 56, prices start to fall. But if you stick to strictly the CV area, prices are pretty strong. There are a lot of nice areas along the general 56 area, and all fall into the top end school districts.

I would agree CV prices need to come down if prices 2 exits down the 56 are significantly lower. The thing is, I don’t think that many people in CV are that distressed and I expect most will ride out the downturn.

Now the newer areas East of CV – the # of distressed sellers is going to go up IMHO. That’s mainly where I’ve been focusing my eyes. Problem there is it’s a MR and HOA minefield – got to be careful where you step.

[sdnerd]

Yeah, I’m aware the Intuit area isn’t CV. But it’s pretty darn close & has most of the perks.

As you go East on the 56, prices start to fall. But if you stick to strictly the CV area, prices are pretty strong. There are a lot of nice areas along the general 56 area, and all fall into the top end school districts.

I would agree CV prices need to come down if prices 2 exits down the 56 are significantly lower. The thing is, I don’t think that many people in CV are that distressed and I expect most will ride out the downturn.

Now the newer areas East of CV – the # of distressed sellers is going to go up IMHO. That’s mainly where I’ve been focusing my eyes. Problem there is it’s a MR and HOA minefield – got to be careful where you step.

[sdnerd]

Yeah, I’m aware the Intuit area isn’t CV. But it’s pretty darn close & has most of the perks.

As you go East on the 56, prices start to fall. But if you stick to strictly the CV area, prices are pretty strong. There are a lot of nice areas along the general 56 area, and all fall into the top end school districts.

I would agree CV prices need to come down if prices 2 exits down the 56 are significantly lower. The thing is, I don’t think that many people in CV are that distressed and I expect most will ride out the downturn.

Now the newer areas East of CV – the # of distressed sellers is going to go up IMHO. That’s mainly where I’ve been focusing my eyes. Problem there is it’s a MR and HOA minefield – got to be careful where you step.

[sdnerd]

Yeah, I’m aware the Intuit area isn’t CV. But it’s pretty darn close & has most of the perks.

As you go East on the 56, prices start to fall. But if you stick to strictly the CV area, prices are pretty strong. There are a lot of nice areas along the general 56 area, and all fall into the top end school districts.

I would agree CV prices need to come down if prices 2 exits down the 56 are significantly lower. The thing is, I don’t think that many people in CV are that distressed and I expect most will ride out the downturn.

Now the newer areas East of CV – the # of distressed sellers is going to go up IMHO. That’s mainly where I’ve been focusing my eyes. Problem there is it’s a MR and HOA minefield – got to be careful where you step.

[sdnerd]

I’m curious as to which general areas your frustrated clients are looking?

I’ve been passively watching many of the areas just north of the 56 for a while now, everything from CV to RB West. Prices are still strong, and new developments are still selling like hot cakes. But there is some downward movement.

The # of homes listed in the high 600, 700, and low 800s have definitely increased IMHO. There are a lot of places that were listing in the 900’s now in the high 700’s. Many of these are within the 2,500 to 3,100sqft range. A fair number are now in the ~5-6% annual appreciation range from 1999.

The area near the new Intuit complex appears to be getting hit pretty hard. Not too surprising since those were all built around 2003/2004 I believe.

For me personally, $700-750k is the sweet spot. What’s concerning though however, is at that price the demand starts to get significantly higher from what I’ve seen on boards like this, and from conversations with friends. CV, Encinitas, etc – I think that price range would bring in a fair number of buyers.

It’ll be curious to see the landscape towards the end of this year. Once prices start getting within 10-15% of “target price”; the rent/waiting time starts to become a big factor. If your clients are spending $30k a year renting; waiting for another $50k price drop becomes a factor for consideration.

[sdnerd]

I’m curious as to which general areas your frustrated clients are looking?

I’ve been passively watching many of the areas just north of the 56 for a while now, everything from CV to RB West. Prices are still strong, and new developments are still selling like hot cakes. But there is some downward movement.

The # of homes listed in the high 600, 700, and low 800s have definitely increased IMHO. There are a lot of places that were listing in the 900’s now in the high 700’s. Many of these are within the 2,500 to 3,100sqft range. A fair number are now in the ~5-6% annual appreciation range from 1999.

The area near the new Intuit complex appears to be getting hit pretty hard. Not too surprising since those were all built around 2003/2004 I believe.

For me personally, $700-750k is the sweet spot. What’s concerning though however, is at that price the demand starts to get significantly higher from what I’ve seen on boards like this, and from conversations with friends. CV, Encinitas, etc – I think that price range would bring in a fair number of buyers.

It’ll be curious to see the landscape towards the end of this year. Once prices start getting within 10-15% of “target price”; the rent/waiting time starts to become a big factor. If your clients are spending $30k a year renting; waiting for another $50k price drop becomes a factor for consideration.

[sdnerd]

I’m curious as to which general areas your frustrated clients are looking?

I’ve been passively watching many of the areas just north of the 56 for a while now, everything from CV to RB West. Prices are still strong, and new developments are still selling like hot cakes. But there is some downward movement.

The # of homes listed in the high 600, 700, and low 800s have definitely increased IMHO. There are a lot of places that were listing in the 900’s now in the high 700’s. Many of these are within the 2,500 to 3,100sqft range. A fair number are now in the ~5-6% annual appreciation range from 1999.

The area near the new Intuit complex appears to be getting hit pretty hard. Not too surprising since those were all built around 2003/2004 I believe.

For me personally, $700-750k is the sweet spot. What’s concerning though however, is at that price the demand starts to get significantly higher from what I’ve seen on boards like this, and from conversations with friends. CV, Encinitas, etc – I think that price range would bring in a fair number of buyers.

It’ll be curious to see the landscape towards the end of this year. Once prices start getting within 10-15% of “target price”; the rent/waiting time starts to become a big factor. If your clients are spending $30k a year renting; waiting for another $50k price drop becomes a factor for consideration.

[sdnerd]

I’m curious as to which general areas your frustrated clients are looking?

I’ve been passively watching many of the areas just north of the 56 for a while now, everything from CV to RB West. Prices are still strong, and new developments are still selling like hot cakes. But there is some downward movement.

The # of homes listed in the high 600, 700, and low 800s have definitely increased IMHO. There are a lot of places that were listing in the 900’s now in the high 700’s. Many of these are within the 2,500 to 3,100sqft range. A fair number are now in the ~5-6% annual appreciation range from 1999.

The area near the new Intuit complex appears to be getting hit pretty hard. Not too surprising since those were all built around 2003/2004 I believe.

For me personally, $700-750k is the sweet spot. What’s concerning though however, is at that price the demand starts to get significantly higher from what I’ve seen on boards like this, and from conversations with friends. CV, Encinitas, etc – I think that price range would bring in a fair number of buyers.

It’ll be curious to see the landscape towards the end of this year. Once prices start getting within 10-15% of “target price”; the rent/waiting time starts to become a big factor. If your clients are spending $30k a year renting; waiting for another $50k price drop becomes a factor for consideration.

[sdnerd]

I’m curious as to which general areas your frustrated clients are looking?

I’ve been passively watching many of the areas just north of the 56 for a while now, everything from CV to RB West. Prices are still strong, and new developments are still selling like hot cakes. But there is some downward movement.

The # of homes listed in the high 600, 700, and low 800s have definitely increased IMHO. There are a lot of places that were listing in the 900’s now in the high 700’s. Many of these are within the 2,500 to 3,100sqft range. A fair number are now in the ~5-6% annual appreciation range from 1999.

The area near the new Intuit complex appears to be getting hit pretty hard. Not too surprising since those were all built around 2003/2004 I believe.

For me personally, $700-750k is the sweet spot. What’s concerning though however, is at that price the demand starts to get significantly higher from what I’ve seen on boards like this, and from conversations with friends. CV, Encinitas, etc – I think that price range would bring in a fair number of buyers.

It’ll be curious to see the landscape towards the end of this year. Once prices start getting within 10-15% of “target price”; the rent/waiting time starts to become a big factor. If your clients are spending $30k a year renting; waiting for another $50k price drop becomes a factor for consideration.

[sdnerd]

I think a fair number of people here expected the government to do something. The question still remains, how much and how soon. As it’s been seen, the nicer areas can hold out the longest.

If they can stop the flood of foreclosures, suddenly the dynamics change. As we’ve seen, people who can hold – will, even if it’d be smarter for them to walk. This will help create a price floor, and IMHO lead to a price drop followed by a long flat period until such time as wage inflation does catch up (which could be a long wait).

Clearly there is demand in the market, and aggressively priced homes sell fast. And despite the disbelief on this site, it’s been shown there is a lot of money out there for massive down payments. Shore up the number of distressed sellers and foreclosures, and the supply of aggressively priced homes decreases. Supply and demand takes care of the rest.

It’s an election year, they are trying to avoid complete financial collapse, and the typical person on a board like this is not the norm. We are the exception, expect to be treated as such.

I’m not saying it’s a good time to buy, but I honestly believe at some point in the future this place is going to be filled with people complaining how they’ve been waiting for 10 years to buy a home because they waited for something that never happened (due to bailouts, or other factors).

“That’s not fair” will be the cry; but we should all know that “Life isn’t fair.”

I may not like it; but I fully expect to see people continue living in million dollar homes who clearly can’t afford it. They’ll lose their 2nd and 3rd homes, and be house poor in the primary.

Just my .02

[sdnerd]

I think a fair number of people here expected the government to do something. The question still remains, how much and how soon. As it’s been seen, the nicer areas can hold out the longest.

If they can stop the flood of foreclosures, suddenly the dynamics change. As we’ve seen, people who can hold – will, even if it’d be smarter for them to walk. This will help create a price floor, and IMHO lead to a price drop followed by a long flat period until such time as wage inflation does catch up (which could be a long wait).

Clearly there is demand in the market, and aggressively priced homes sell fast. And despite the disbelief on this site, it’s been shown there is a lot of money out there for massive down payments. Shore up the number of distressed sellers and foreclosures, and the supply of aggressively priced homes decreases. Supply and demand takes care of the rest.

It’s an election year, they are trying to avoid complete financial collapse, and the typical person on a board like this is not the norm. We are the exception, expect to be treated as such.

I’m not saying it’s a good time to buy, but I honestly believe at some point in the future this place is going to be filled with people complaining how they’ve been waiting for 10 years to buy a home because they waited for something that never happened (due to bailouts, or other factors).

“That’s not fair” will be the cry; but we should all know that “Life isn’t fair.”

I may not like it; but I fully expect to see people continue living in million dollar homes who clearly can’t afford it. They’ll lose their 2nd and 3rd homes, and be house poor in the primary.

Just my .02

[sdnerd]

I think a fair number of people here expected the government to do something. The question still remains, how much and how soon. As it’s been seen, the nicer areas can hold out the longest.

If they can stop the flood of foreclosures, suddenly the dynamics change. As we’ve seen, people who can hold – will, even if it’d be smarter for them to walk. This will help create a price floor, and IMHO lead to a price drop followed by a long flat period until such time as wage inflation does catch up (which could be a long wait).

Clearly there is demand in the market, and aggressively priced homes sell fast. And despite the disbelief on this site, it’s been shown there is a lot of money out there for massive down payments. Shore up the number of distressed sellers and foreclosures, and the supply of aggressively priced homes decreases. Supply and demand takes care of the rest.

It’s an election year, they are trying to avoid complete financial collapse, and the typical person on a board like this is not the norm. We are the exception, expect to be treated as such.

I’m not saying it’s a good time to buy, but I honestly believe at some point in the future this place is going to be filled with people complaining how they’ve been waiting for 10 years to buy a home because they waited for something that never happened (due to bailouts, or other factors).

“That’s not fair” will be the cry; but we should all know that “Life isn’t fair.”

I may not like it; but I fully expect to see people continue living in million dollar homes who clearly can’t afford it. They’ll lose their 2nd and 3rd homes, and be house poor in the primary.

Just my .02

[sdnerd]

I think a fair number of people here expected the government to do something. The question still remains, how much and how soon. As it’s been seen, the nicer areas can hold out the longest.

If they can stop the flood of foreclosures, suddenly the dynamics change. As we’ve seen, people who can hold – will, even if it’d be smarter for them to walk. This will help create a price floor, and IMHO lead to a price drop followed by a long flat period until such time as wage inflation does catch up (which could be a long wait).

Clearly there is demand in the market, and aggressively priced homes sell fast. And despite the disbelief on this site, it’s been shown there is a lot of money out there for massive down payments. Shore up the number of distressed sellers and foreclosures, and the supply of aggressively priced homes decreases. Supply and demand takes care of the rest.

It’s an election year, they are trying to avoid complete financial collapse, and the typical person on a board like this is not the norm. We are the exception, expect to be treated as such.

I’m not saying it’s a good time to buy, but I honestly believe at some point in the future this place is going to be filled with people complaining how they’ve been waiting for 10 years to buy a home because they waited for something that never happened (due to bailouts, or other factors).

“That’s not fair” will be the cry; but we should all know that “Life isn’t fair.”

I may not like it; but I fully expect to see people continue living in million dollar homes who clearly can’t afford it. They’ll lose their 2nd and 3rd homes, and be house poor in the primary.

Just my .02

[sdnerd]

I think a fair number of people here expected the government to do something. The question still remains, how much and how soon. As it’s been seen, the nicer areas can hold out the longest.

If they can stop the flood of foreclosures, suddenly the dynamics change. As we’ve seen, people who can hold – will, even if it’d be smarter for them to walk. This will help create a price floor, and IMHO lead to a price drop followed by a long flat period until such time as wage inflation does catch up (which could be a long wait).

Clearly there is demand in the market, and aggressively priced homes sell fast. And despite the disbelief on this site, it’s been shown there is a lot of money out there for massive down payments. Shore up the number of distressed sellers and foreclosures, and the supply of aggressively priced homes decreases. Supply and demand takes care of the rest.

It’s an election year, they are trying to avoid complete financial collapse, and the typical person on a board like this is not the norm. We are the exception, expect to be treated as such.

I’m not saying it’s a good time to buy, but I honestly believe at some point in the future this place is going to be filled with people complaining how they’ve been waiting for 10 years to buy a home because they waited for something that never happened (due to bailouts, or other factors).

“That’s not fair” will be the cry; but we should all know that “Life isn’t fair.”

I may not like it; but I fully expect to see people continue living in million dollar homes who clearly can’t afford it. They’ll lose their 2nd and 3rd homes, and be house poor in the primary.

Just my .02

[Author]

Posts