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sdrealtor
ParticipantThe strategy is to enjoy one’s life whatever that means to them.
ParticipantYou wouldnt be alone. I know agents with several foreclosure listings and they get a handfull of low ball offers everyday.
ParticipantTo each his/her own. If you can afford it and understand the risks you entitled to make your own decisions and live with the results. Bob put it very well when he said the right decision and timing for each person has to do with a lot of factors. I have kids about the same age as Bob. Their favorite place in the entire world is not a toy store, not Target, not the beach, not the park, not a friend’s house, not Coldstone……. it’s their home. When they are away from it for too long they beg to be back in their home, the only home they have and will ever know growing up. There’s alot to be said for that.
ParticipantI said NEW one’s. Those are all at least a few weeks old.
ParticipantSD R,
Nice post. It really shows when you writet from the heart. I hope you find the home you are looking for and can get settled in for the Wonder Years with your family.SDR
ParticipantJosh,
I don’t believe “hope” is such a loaded word. Hope is an individual’s desired outcome of an uncertain situation. The rigor of the analysis really has nothing to do with it. Even though the analysis might point one direction anything can still happen.To the two new posters I say welcome and congratulations. I love seeing new participants, (particularly bright ones with something to say that write well) enter the fray here as it helps all of us learn more. I hope you have found a home that will serve you and your family well. That is what it is really all about. I wouldnt trade my family’s home for the roughly $100,000 it dropped in market value over the last 18 months. The relationships you build with neighbors that become dear friends, the sense of security you children feel in their home and the enjoyment of kicking back in a comfortable/ familiar place is priceless. I sincerely hope you find the same sense of satisifaction that we have.
BTW, this was a wonderful civil thread and I hope to see more like it. I’ve thrown out more than my share of incivility in the past, particularly toward PS and her earlier extremist viewpoints (which incidentally seem to be headed more toward the middle of the road of late). Here’s to a kinder, gentler SDR.
ParticipantJust got my weekly update of new NOD’s and REO’s. The list is getting longer every week but there wasnt any if CV.
ParticipantConcho,
The inventory of 3 years ago was indeed 1/3rd of what it is but that was an extraordinarily low inventory level. In fact, it was that extraordinarily low inventory that caused the panic in late 2003 when we saw prices shoot to the moon. The level we are at today is not high by any measure and much of it is crap. I believe that there are about 150,000 homes in SD. Someone please correct me if I’m wrong but that would place inventory at 1% of the total market. If inventory doesnt start dumping onto the market in the next few weeks, we could be positioned for a Spring rally.ParticipantJosh
As you can see I am not alone in what I am seeing and am just reporting on WHAT IS HAPPENING rather than what I hope will or will not happen. Please read my post again and you will see I am predicting a 5% decline not flat or increasing prices. What I said is that based upon what I am seeing right now, I wouldnt be shocked if prices held or crept up a bit this year due to constrained inventory. I need to keep my eyes open to prevent being blindsided by a change in the trends and try to be as objective as I can be. I’m sorry if you are not hearing what you want to hear but the reality is the market looks better today for sellers than it has in over one year.BTW, Long term I am as bearish as the next guy.
SDR
ParticipantUpdate time
1,262 (about 3% higher) up from 1,226 last week.
I hate to throw out BULLISH news but the data is what is. Total SD County listings for attached and detached properties are 15,392 DOWN from 15,535 last week. That figure is also lower than it was 2 weeks. This comes at a time when inventory is generally increasing at a pretty good clip! Unless we start piling on the listings, prices could even actually creep back up a bit in the Spring. Inventory is leaving the market faster than it comes on. In my sub-market pendings have climbed faster than listings for the 3rd week in a row.
The market is transitioning toward stagnancy dominated by distress sales. As a future buyer, I would not be looking forward to buying in that kind of market either. The challenge with distress sales is that they are quite complex relative to ordinary transactions and the property is usually taken over in very rough condition. If my expectations continue, its not going to be a fun market for buyers or sellers. Buyers will get beaten up properties requiring alot of work upfront and sellers will be disgusted at missing out on the peak.
I expect no more than a 5% reduction this year and wouldn’t be surprised to see flat or even slightly increasing prices.
ParticipantSounds like a troll to me looking to find a couple agents battle over cutting their commissions. If I’m wrong, check out SD Realtor as I’m sure he’d do it. He will no doubt be around soon to provide his contact info.
ParticipantDon’t you mean your landlords backyard;)
ParticipantLB,
That comment pretty much pegs you as a lowlife. For the record, it was a $155,000 condo that was purchased in 1997 for $47,000. The agent that was killed does mostly Probate sales and probably never met the owner let alone sold him a property under false pretenses. Those are sales of properties where the owner died and the estate is selling the property not a foreclosure. I have a friend who does a similar business and guys like this typically have a couple estate attorneys that refer them business. It’s a great gig if you can get it and the properties are generally sold at a good price for the buyer because they are usually in rough shape and little can be disclosed about any issues with them as the owner is deceased. He was from what I understand a very good agent in the business 30 years and a fine person. This is a tragedy and there is nothing funny about it.ParticipantBuilder traditionally like to keep land aquisition costs at or below 33%.
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