Forum Replies Created
-
AuthorPosts
-
sdrealtor
ParticipantJJ,
We are pretty much in the same boat having bought my current primary around the same time. I share you lack of concern re the value of my house because I know it will always perform better than the market around me for a variety of reasons. I doubt that I would ever sell my house and am really looking to buy 2 more properties. One just like the one I have (so that my kids will each get one) and another by the beach for me and the Mrs. to retire to. Whether the kids ultimately decide to keep them will be their choice but they would both be great rentals or primaries with very low tax basis.I always look 10 to 20 years ahead in my decision making.
Participant🙂
Participant🙂
Participant🙂
ParticipantFWIW
Lower rates are available for well qualified buyers with good downpayments. I know someone that got 6.4% with 0 points last week with FICO’s above 750 and 30% down.ParticipantFWIW
Lower rates are available for well qualified buyers with good downpayments. I know someone that got 6.4% with 0 points last week with FICO’s above 750 and 30% down.ParticipantFWIW
Lower rates are available for well qualified buyers with good downpayments. I know someone that got 6.4% with 0 points last week with FICO’s above 750 and 30% down.ParticipantJJ
You are correct that less inventory is not generally bad for prices. The coming decline is my opinion. In general, I feel it will be due to the eventual shift of inventory from nicer homes being sold by choice to crappy homes being sold under distress. There isnt much distress in my submarket yet but it’s coming. I dont see it really hitting around here until 2010 for better homes. There arent as many Option ARM timebombs floating around here IMO. I beleive there most homes in my area were bought/refinanced at the peak with 5/1 ARM’s which dont reset until 2009 or later. If someone wants to sell but doesnt like the prices, many will hold on or keep it as a rental. 20010 is where I see the real potential for damage around here. Of course, there are alot of things that could happen between now and then which could change my opinions and the outcome. For someone looking seriously around here (North county Coastal) I think you’ll need alot of patience or alot of money for the foreseeable future. Personally, my timeframe for buying investment properties and my retirement home is 5 to 20 years. I’m certainly in no rush, are you?sdr
ParticipantJJ
You are correct that less inventory is not generally bad for prices. The coming decline is my opinion. In general, I feel it will be due to the eventual shift of inventory from nicer homes being sold by choice to crappy homes being sold under distress. There isnt much distress in my submarket yet but it’s coming. I dont see it really hitting around here until 2010 for better homes. There arent as many Option ARM timebombs floating around here IMO. I beleive there most homes in my area were bought/refinanced at the peak with 5/1 ARM’s which dont reset until 2009 or later. If someone wants to sell but doesnt like the prices, many will hold on or keep it as a rental. 20010 is where I see the real potential for damage around here. Of course, there are alot of things that could happen between now and then which could change my opinions and the outcome. For someone looking seriously around here (North county Coastal) I think you’ll need alot of patience or alot of money for the foreseeable future. Personally, my timeframe for buying investment properties and my retirement home is 5 to 20 years. I’m certainly in no rush, are you?sdr
ParticipantTime to update everyone’s favorite bellweather;)
7/19 to 7/25
new listings – 13
back on market – 3Total growth in inventory – 16
pendings – 11
expired – 5
withdrawn – 1
cancelled – 4Total decrease in inventory – 20
Net change in inventory – minus 4
Lots of bad news in the media but not here. Market still holding up so far. Spoke to several agents this week about what the listings look like in their offices. Over the last month or so, new listings are way down. The bulk of the new listings seem to be REO’s and probate sales in the outlying areas. In my submarket the number of listings put into the MLS in July 2007 is down 20% from last year. Declines are coming, it is just taking time.
ParticipantTime to update everyone’s favorite bellweather;)
7/19 to 7/25
new listings – 13
back on market – 3Total growth in inventory – 16
pendings – 11
expired – 5
withdrawn – 1
cancelled – 4Total decrease in inventory – 20
Net change in inventory – minus 4
Lots of bad news in the media but not here. Market still holding up so far. Spoke to several agents this week about what the listings look like in their offices. Over the last month or so, new listings are way down. The bulk of the new listings seem to be REO’s and probate sales in the outlying areas. In my submarket the number of listings put into the MLS in July 2007 is down 20% from last year. Declines are coming, it is just taking time.
ParticipantNice synopsis SD R. The short sale monitor was never intended to truly measure the number of short sales but rather as a means of tracking distress in the marketplace. Based upon the data I have tracked thus far distress has grown faster than total inventory. Currently distress sales are growing while total inventory looks to have peaked already. That is a very important point to reach IMO. If distress sales grow and inventory decreases the impact of these these distress sales on the greater market will increase.
ParticipantNice synopsis SD R. The short sale monitor was never intended to truly measure the number of short sales but rather as a means of tracking distress in the marketplace. Based upon the data I have tracked thus far distress has grown faster than total inventory. Currently distress sales are growing while total inventory looks to have peaked already. That is a very important point to reach IMO. If distress sales grow and inventory decreases the impact of these these distress sales on the greater market will increase.
Participantbut duuuuuuuuude,
They’re putting in the granite. I think I need to go find my bong.
sdr -
AuthorPosts
