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[quote=SD Realtor]You are correct AN. The home is not shadow inventory. No difference between a bank owning the rental or an individual being the owner. There have been several announcements about distressed inventory rental programs.[/quote]

I see. I guess I was referring to the fact it was on the market, taken off, and not sold.

Are you referring to programs like BoA “Mortgage to lease”? http://online.wsj.com/article/SB10001424052702304724404577297904070547784.html

In my case I never had a mortgage. I’m wondering if banks are starting to favor renting out properties instead of selling. Inventory is awfully low right now.

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View post on imgur.com

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[quote=FormerSanDiegan][quote=FormerSanDiegan]$ 253,897.13[/quote]

You guys must have missed this stuck in the middle of the Wall street versus public servant discussions.[/quote]

Yeah, but you guessed $325,724.68 before that (third post of the thread).

I demand a recount! I see a hanging chad!

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250k

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[quote=FormerSanDiegan]It’s funny how the boomers were lazy/freeloader/protesters in the late 60’s/ early 70’s, then the entitled greedy “me” generation in the 80’s, and are now the hardworking wise generation.[/quote]

That, or we’re just setting the bar lower.

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As the old adage says “you can’t take it with you.” The older generations (55+) have a majority of the wealth and I would expect to see a major shift in wealth distribution between the older generations to the younger generations in the next 10 years or so.

http://www.usatoday.com/news/nation/2007-05-20-cover-generation-wealth_N.htm

•Ages 55-59: Median net worth — the middle point for all households — rose 97% over 15 years to $249,700 in 2004, the most recent year for which data is available. Median income rose 52%.

•Ages 35-39: Median household net worth fell 28% to $48,940. Median income fell 10%

Now I know these stats are dated, and I would be very interested in the effect the housing bust has had since then, but this supports the gist of what I am trying to say.

There are a finite number of resources in the world. Valuing those resources is the function of markets, but like it or not those resources will be transfered from one generation to the next.

Yes, millinials are not planners or savers. But they’ll get theirs one way or another. Unfortuately that “another” might just be natural matriculation.

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We have a 2/2 for 1710 in the Arcadia complex just north of qualcomm stadium. That’s not the list price but if you shop around and ask for a deal you just might get it.

I found this tool invaluable http://www.irvinehousingblog.com/calculator/
just download it for excel (the web version is kinda slow).

I’m not trying to say this is not a good time to buy. I think it’s a decent time to buy all things considered. I’m just sharing what I’m looking at. We’re in the market ourselves. We made offers that didn’t work out (they were too good to be true in that price range and the comps showed it).

For a 10k foot view look at the chart in the bottom right hand corner “SD Home Price Snapshot” showing the difference between list price and sell price (price per square foot).

Ultimately your agent will do something similar (just much more focused) by running the comps in the area. From there you can make an educated guess on what a good price to come in at is.

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[quote=Nancy_s soothsayer]
The caps are not mine (they were copy/pasted.)[/quote]

http://caseconverter.com/

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[quote=Fearful][quote=jimklinge]I can only tell you what I see in my little world.
[/quote]
Hey Jim, thanks for continuing to provide straightforward reporting from the field. I for one have never found you to engage in the sort of I-will-sell-this-house-today hooey that distinguishes your profession.[/quote]

I second that

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Maybe it is.. I’m in, so that’s +1

Moved to the area in 07, conditions and life circumstances have culminated into the “right time” for me.

However, I don’t have any experience to say the market is “a buzz”. The places I have liked so far have had offers on them within a couple of days. Nice places go fast, plenty of stuff I don’t like that is readily available.. I have assumed this is typical.

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