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sdrealtor
ParticipantUpdate time
1122 (about 5% higher) up from 1,077 last week. Total SD County listings for attached and detached properties are 15,200 up from 15,039, which is barely a blip up in the inventory. I am still amazed by how little has come on the market. Still too early to call it a trend as the real action should start around the 19th but if it continues as such the decline in prices could slow down from last years fairly rapid velocity. Maybe the Chargers debacle will get people focused on other things now!
ParticipantIf that is the only thing that can save the ship (and I don’t believe it is), start inflating the liferafts!
ParticipantA couple things could help to save the ship including lowered Interest rates, continuing strength in the economy and lender bailouts of over leveraged homeowners but the bottom line is there is nothing more important than supply and demand. Demand is holding up surprisingly well and so far the inventory is suprisingly low as well this year. Inventory in my area is actually lower than last year which stuns me. I’m not betting one way or the other but if you made me guess I would think we will end up a stagnant market where a very high percentage of sales are distressed. In that case good deals will be easier to locate then good properties.
ParticipantCheck 29472 Pointe Royale, Laguna Niguel, CA 92677 on Zillow and you will see that the 2003 price for a model match comp was around $480K. 2004 prices were likely in the mid 500’s. I think you could see mid 400’s pricing again but 375 is unlikely IMHO.
ParticipantWhat do you base a price of $375,000 as the 2004 level on? If it was $315,000 in 2000, I’d say the 2004 price was probably well over $500,000 but I have no idea what the comps were. Is $375,000 what the comps were in 2004 or is that what you wish they were. As for what I think the seller will….I think they will laugh in your general direction.
ParticipantI just saw a couple analysts predicting Q4 2006 GDP in 3% range.
Drink up QC!
Participantlostkitty,
What makes you think someone would do that?
sdrealtor
ParticipantTheBreeze,
One of my brother in law’s was a Master Electrician. I say WAS a Master electrician. He made more money than his friends who went to college and entered white color professions for about two decades. Then he fell off a ladder and now he is disabled. Not quite earning what he used to.The returns on a college education for the average graduate are long term and gained through hard work. It’s not a free pass. Your buddy most likely got where he is through hard work as well.
SDR
ParticipantSD R,
No animousity here, just pointed questions aimed more at showing others how complex personal RE decisions are and how its much easier to say than to do. I do not disagree with you that the industry is screwed up. With that said, I do not believe the 1% model is sustainable and you are able to exploit an niche in the market working part time. That’s great for you but it is not the answer to the industry problems. I’ve never met you and have nothing against you personally.As for the stats I posted, it’s my way of saying there is a difference between the results produced by a quality full time full service realtor and those by a quality limited services realtor. You pay less and you get less. I’ve never seen your marketing, but most of what I’ve seen from the limited service camp falls under the “pay less for the same thing” banner which is just plain untrue. With that said there are plenty of full service realtors that aren’t worth a dime either.
Participantsd r,
My comment was based upon something I use with my seller’s that i have had great luck with. When they are evaluating an offer that I feel is a very fair offer, I explain that by saying NO to someone who will pay X dollars today they are in essence making the decision to rebuy their home today at X dollars. When you say you will NOT pay today’s prices and you own RE that you are holding onto, you are doing the same thing.
Regarding the REO business, i know some very big players in that market and from what I have seen the lenders are very slow in adapting to the market and responding to offers.
I’m curious as to how you feel your 1% listing business model is holding up these days. You know I dont believe it’s sustainable in anything but a booming seller’s market. What percentage of your listings sold in 2006? With my full service model I sold 100% with an average market time of approx 2 months and not 1 of my listings was relisted after 45,60,90 etc. days.
sdr
ParticipantSD R,
Thats what title reps are for. you can get all that information for free.SDR
ParticipantSD R,
Here’s your recent quote:
“As a potential buyer I am still very frustrated by the fact that pricing has not come anywhere close to what I would consider reasonable levels. It is not just the homeowners selling that frustrates me either, the REO, short sales and foreclosures are still priced at higher points as well. Yes the market times have grown as has inventory. Yet there STILL are buyers out there and they STILL are paying prices that I will not pay.”
If I remember correctly, you tried to sell your home and did not because you couldnt get the price you wanted. Your decision to hold onto that property because you wouldn’t lower the price, means you ARE EFFECTIVELY PAYING TODAY’S PRICES.
ParticipantUpdate time
1077 (A NEW HIGH!) up from 996 last week. Total SD County listings for attached and detached properties are 15,039 up from 14,621 . I expected quite a bit more inventory to come on right after New Year’s and am a bit surprised by how little has come on the market. Too early to call it a trend as the real action should start around the 19th but if it continues as such the decline in prices could slow down from last years fairly rapid velocity.
ParticipantA little bird told me it’s in escrow for $560,000. I also heard there was some issues with the property that might not have been disclosed upfront which could cause it to fall out.
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