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temeculaguy
Participantcv2, you are confusing us. Are you using the abbreviation CV for Carmel Valley, while spelling out Chula Vista, because you compared CV to Chula Vista when the OP was probably using the abbreviation CV for Chula Vista.
Who’s on first?
sdrents, just rent a SFR in Eastlake and see if you like it first, renting is the new black.
Participantcv2, you are confusing us. Are you using the abbreviation CV for Carmel Valley, while spelling out Chula Vista, because you compared CV to Chula Vista when the OP was probably using the abbreviation CV for Chula Vista.
Who’s on first?
sdrents, just rent a SFR in Eastlake and see if you like it first, renting is the new black.
Participantcv2, you are confusing us. Are you using the abbreviation CV for Carmel Valley, while spelling out Chula Vista, because you compared CV to Chula Vista when the OP was probably using the abbreviation CV for Chula Vista.
Who’s on first?
sdrents, just rent a SFR in Eastlake and see if you like it first, renting is the new black.
ParticipantThat is the new kool-aid, thinking that inner city real estate will not go down in value because all of suburbia will move there. The examples they used involved a suburb that sprang up during the bubble years, going from population 1,500 in 2002 to 38,000 today. That is why it is riddled with foreclosures, because of when it was built, not so much where, everyone in the town is underwater. Ask a downtown San Diego condo owner who bought in 2005 if prices are stable. As soon as these analysts realize that families aren’t going to move downtown, instead they will buy more efficient cars, they will be able to see the real possibility that a trend of employers moving to the suburbs has just as likely a chance of materializing.
ParticipantThat is the new kool-aid, thinking that inner city real estate will not go down in value because all of suburbia will move there. The examples they used involved a suburb that sprang up during the bubble years, going from population 1,500 in 2002 to 38,000 today. That is why it is riddled with foreclosures, because of when it was built, not so much where, everyone in the town is underwater. Ask a downtown San Diego condo owner who bought in 2005 if prices are stable. As soon as these analysts realize that families aren’t going to move downtown, instead they will buy more efficient cars, they will be able to see the real possibility that a trend of employers moving to the suburbs has just as likely a chance of materializing.
ParticipantThat is the new kool-aid, thinking that inner city real estate will not go down in value because all of suburbia will move there. The examples they used involved a suburb that sprang up during the bubble years, going from population 1,500 in 2002 to 38,000 today. That is why it is riddled with foreclosures, because of when it was built, not so much where, everyone in the town is underwater. Ask a downtown San Diego condo owner who bought in 2005 if prices are stable. As soon as these analysts realize that families aren’t going to move downtown, instead they will buy more efficient cars, they will be able to see the real possibility that a trend of employers moving to the suburbs has just as likely a chance of materializing.
ParticipantThat is the new kool-aid, thinking that inner city real estate will not go down in value because all of suburbia will move there. The examples they used involved a suburb that sprang up during the bubble years, going from population 1,500 in 2002 to 38,000 today. That is why it is riddled with foreclosures, because of when it was built, not so much where, everyone in the town is underwater. Ask a downtown San Diego condo owner who bought in 2005 if prices are stable. As soon as these analysts realize that families aren’t going to move downtown, instead they will buy more efficient cars, they will be able to see the real possibility that a trend of employers moving to the suburbs has just as likely a chance of materializing.
ParticipantThat is the new kool-aid, thinking that inner city real estate will not go down in value because all of suburbia will move there. The examples they used involved a suburb that sprang up during the bubble years, going from population 1,500 in 2002 to 38,000 today. That is why it is riddled with foreclosures, because of when it was built, not so much where, everyone in the town is underwater. Ask a downtown San Diego condo owner who bought in 2005 if prices are stable. As soon as these analysts realize that families aren’t going to move downtown, instead they will buy more efficient cars, they will be able to see the real possibility that a trend of employers moving to the suburbs has just as likely a chance of materializing.
ParticipantI am confused by the sentence in quotes and what the author is tring to point out and compared to when? May?. “auction notices” (notice of trustee sale) are the warning 30 days before it becomes an reo but it’s the same house, those are the three stages, reo’s can’t outnumber nods or nots, every reo was 1st a nod and then a not.
Perhaps they are showing that less nots are cured (refi’d or reworked and escaping the trustee sale) as compared to last year or prior years.
That data won’t cause inventory to increase because the house would have been a normal listing had it not been a reo listing so you see a larger percentge of reo’s and not that many more actual houses for sale, what you get is much fewer traditional listings where the owner is occupying the house and current with their payments. Current prices is also keeping potential normal listings from listing. Those people not behind in payments and not in any form of distress are opting to not compete with reo prices.
ParticipantI am confused by the sentence in quotes and what the author is tring to point out and compared to when? May?. “auction notices” (notice of trustee sale) are the warning 30 days before it becomes an reo but it’s the same house, those are the three stages, reo’s can’t outnumber nods or nots, every reo was 1st a nod and then a not.
Perhaps they are showing that less nots are cured (refi’d or reworked and escaping the trustee sale) as compared to last year or prior years.
That data won’t cause inventory to increase because the house would have been a normal listing had it not been a reo listing so you see a larger percentge of reo’s and not that many more actual houses for sale, what you get is much fewer traditional listings where the owner is occupying the house and current with their payments. Current prices is also keeping potential normal listings from listing. Those people not behind in payments and not in any form of distress are opting to not compete with reo prices.
ParticipantI am confused by the sentence in quotes and what the author is tring to point out and compared to when? May?. “auction notices” (notice of trustee sale) are the warning 30 days before it becomes an reo but it’s the same house, those are the three stages, reo’s can’t outnumber nods or nots, every reo was 1st a nod and then a not.
Perhaps they are showing that less nots are cured (refi’d or reworked and escaping the trustee sale) as compared to last year or prior years.
That data won’t cause inventory to increase because the house would have been a normal listing had it not been a reo listing so you see a larger percentge of reo’s and not that many more actual houses for sale, what you get is much fewer traditional listings where the owner is occupying the house and current with their payments. Current prices is also keeping potential normal listings from listing. Those people not behind in payments and not in any form of distress are opting to not compete with reo prices.
ParticipantI am confused by the sentence in quotes and what the author is tring to point out and compared to when? May?. “auction notices” (notice of trustee sale) are the warning 30 days before it becomes an reo but it’s the same house, those are the three stages, reo’s can’t outnumber nods or nots, every reo was 1st a nod and then a not.
Perhaps they are showing that less nots are cured (refi’d or reworked and escaping the trustee sale) as compared to last year or prior years.
That data won’t cause inventory to increase because the house would have been a normal listing had it not been a reo listing so you see a larger percentge of reo’s and not that many more actual houses for sale, what you get is much fewer traditional listings where the owner is occupying the house and current with their payments. Current prices is also keeping potential normal listings from listing. Those people not behind in payments and not in any form of distress are opting to not compete with reo prices.
ParticipantI am confused by the sentence in quotes and what the author is tring to point out and compared to when? May?. “auction notices” (notice of trustee sale) are the warning 30 days before it becomes an reo but it’s the same house, those are the three stages, reo’s can’t outnumber nods or nots, every reo was 1st a nod and then a not.
Perhaps they are showing that less nots are cured (refi’d or reworked and escaping the trustee sale) as compared to last year or prior years.
That data won’t cause inventory to increase because the house would have been a normal listing had it not been a reo listing so you see a larger percentge of reo’s and not that many more actual houses for sale, what you get is much fewer traditional listings where the owner is occupying the house and current with their payments. Current prices is also keeping potential normal listings from listing. Those people not behind in payments and not in any form of distress are opting to not compete with reo prices.
ParticipantSnail it will move fast but it will be replaced with another, last week , one street over a 249 came up and sold within a few days, smaller lot, slightly worse shape and location. I’ve seen a bunch this month, all up and down in days and all at about 250k, that is the new “dump it yesterday” price. I tried to lowball some last week but lowballing the 250k fire sales with a 200k offer, get no more than a “thanks for playing” call. They get their ask on those and they get it quick. Lowballing the competition, the out of touch reo’s is where you need to go, I’ll be using these as comps when I go lowballing for real in the next few months.
Case study, this one comes up for 314, gets jumped on with multiple offers day 1. My lowball of 250k is laughed at.
http://www.redfin.com/CA/Temecula/45314-Tioga-St-92592/home/6432588
Same house, same street, listed as a short for 385k
http://www.redfin.com/CA/Temecula/45197-Tioga-St-92592/home/6433033
Same model, one street over, bank owned, listed for 7 months, started in the 500’s, then 400’s, now 359k, still nothing.
http://www.redfin.com/CA/Temecula/33099-Poppy-92592/home/6468889
The last two will now be haunted by the 314k and I keep all the 250k sales in my memory bank and when I offer 250k for one of them in november I can make a case for it. Booya!!!
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