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April 23, 2007 at 12:47 PM in reply to: Subprime to have little impact on desirable areas of San Diego?? #50891
sdrealtor
ParticipantNorth PB sounds like its in line with what I mentioned. If you end up in UC it would represent a major compromise form the life you’ve led for what sounds like many years. I’ll believe it when I see it.
ParticipantShort sales 1,916 heading up again from 1,833 last week!
Total SD County Listings 16,534 a relatively small climb from 16,218 last week. The week after writing checks to the IRS, alot more paniced sellers should have materialized. Maybe this week?
I will try to get to NC as soon as I can but expect more of the same (i.e. flat to slightly declining inventory and increasing pendings).
Participantmrquoi,
I dont know how to make it any clearer than this. The house went to auction and the bank took it back for $1.05M. It was not on the market at this time. They cleaned it up and put it on the market for $1.3M. It went into escrow in less than 1 week and most likely will close above $1.3M.That is the sign of a hot market.
ParticipantThe price you see is what the bank took it back at. It came on the market as an REO, sold in 1 week, is currently inescrow and will likely close around $1.3M.
Anx, kinda funny how we both went in and edited our not so kind responses to each other.
Follow up- I just looked at the house and location. It probably sold above asking with multiple offers. $1.4 would not surprise me.
ParticipantAnything decent in NC coastal starts around 2500. For about $3000 you should be able to get a nice 4/3 2800 sq ft home less than 10 years old in a very nice area close to all with great schools. I may know of one about to become available from an original owner. Very clean, never rented out and owners can afford to keep it as long term investment. What kind of dog?
April 23, 2007 at 12:12 PM in reply to: Subprime to have little impact on desirable areas of San Diego?? #50876ParticipantMost buyers looking in LJ Village arent going to Univesity City regardless of the price. Del Mar or even Solana Beach but not UC. Your theory assumes people dont have firm preferences and the oppositeis tru at the high end. If they cant afford LJ they could end up in South Florida.
ParticipantThat would be a wonderful present but it is not the case at all. DM is very hot and prices have not fallen. There is very little inventory in DM.
What you are seeing is a foreclosure. House went on the market at $1,299,900 and sold in less than 1 week. This example proves the opposite of what you stated.
ParticipantNSR,
That is one of the most brilliant observations I have read on this board. When I think back in time, that is EXACTLY what happened here in SD. My area exploded between mid 2003 and mid 2004 at which point it stopped. Between mid 2004 and 2005 places like Oceanside and San Marcos boomed.I never thought about it the way you just laid it out but that is what Is aw happen.
Great Post
ParticipantEnough with the spin!
I’d consider it a good thing if affordability was restored also. But right now you are negative. Look at the words you wrote: irresponsible people and unethical lenders. Those are not happy, touchy feely thoughts. I’m done with this thread. VC got the point.
Participantgn and ak,
Essentially everyone here has a negative view on housing at this point in time and I AM INCLUDING MYSELF. We all believe that there is no stopping a return to some more fundamental level of pricing. We all have different opinions as to the speed and extent of a decline but NO ONE here is expecting good things to happen in the housing market but rather bad things to happen. That makes us all genreally negative on housing.Stop with the spin doctoring. We are what we are. Ultimately we will be proven right or wrong. However, if VC decides now is the time to make the leap he will do his soul no good if continues hanging around here second guessing himself.
sdr
ParticipantBest of luck to you. i hope it turns out to be a wondeful thing for your family.
ParticipantVC,
Throughout the time someone owns a home the price constantly changes but only two prices matter. The price you pay and the price you sell for. You will always be making decisions at a snapshot in time with limited information. If you decide to buy the house, get on with enjoying your life and stay away from places like this. If you decide to wait, this is a fine place to come for information as long as you understand what it is. A place full of people with negative views on housing.Either way, if you can afford and buy it you should do your best to enjoy it.
sdr
ParticipantTastes great too!
In all serious though, from what I have heard it is fairly effective if you get to them but with termites hidden so many places I dont see how that can happen. I’d say it was more convenient but substandard to tenting.
April 22, 2007 at 6:21 PM in reply to: 4S Ranch – (3000+sq/ft update) Pienza / Evergreen / Maybeck #50808Participantnice
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