[temeculaguy]

As long as they weren’t planning on it rising in value and refinancing they can just chalk it up as a bad investment, they weren’t alone. Where people made the biggest mistakes were those who needed to increase in order to stay.

I have a friend who made a similar decision but they sold in a much more expensive and equally bubbly market, took their profit and paid cash out here. They have lost a large chunk of equity because of the timing but they have checked current prices on their old house and would have lost double had they stayed, plus they don’t care, they don’t have a mortgage. They could have done better had they sat on the sidelines for two years and reverse flipped but in their minds, they did o.k., I can’t really argue with them about that, they could have done better or they could have done worse.

Your freind could also look at it this way, they may have lost 300k so far but they are only exposed another 300k, there are people and places that today have more exposure than that, so it can only get a little worse for them.

[temeculaguy]

As long as they weren’t planning on it rising in value and refinancing they can just chalk it up as a bad investment, they weren’t alone. Where people made the biggest mistakes were those who needed to increase in order to stay.

I have a friend who made a similar decision but they sold in a much more expensive and equally bubbly market, took their profit and paid cash out here. They have lost a large chunk of equity because of the timing but they have checked current prices on their old house and would have lost double had they stayed, plus they don’t care, they don’t have a mortgage. They could have done better had they sat on the sidelines for two years and reverse flipped but in their minds, they did o.k., I can’t really argue with them about that, they could have done better or they could have done worse.

Your freind could also look at it this way, they may have lost 300k so far but they are only exposed another 300k, there are people and places that today have more exposure than that, so it can only get a little worse for them.

[temeculaguy]

As long as they weren’t planning on it rising in value and refinancing they can just chalk it up as a bad investment, they weren’t alone. Where people made the biggest mistakes were those who needed to increase in order to stay.

I have a friend who made a similar decision but they sold in a much more expensive and equally bubbly market, took their profit and paid cash out here. They have lost a large chunk of equity because of the timing but they have checked current prices on their old house and would have lost double had they stayed, plus they don’t care, they don’t have a mortgage. They could have done better had they sat on the sidelines for two years and reverse flipped but in their minds, they did o.k., I can’t really argue with them about that, they could have done better or they could have done worse.

Your freind could also look at it this way, they may have lost 300k so far but they are only exposed another 300k, there are people and places that today have more exposure than that, so it can only get a little worse for them.

[temeculaguy]

As long as they weren’t planning on it rising in value and refinancing they can just chalk it up as a bad investment, they weren’t alone. Where people made the biggest mistakes were those who needed to increase in order to stay.

I have a friend who made a similar decision but they sold in a much more expensive and equally bubbly market, took their profit and paid cash out here. They have lost a large chunk of equity because of the timing but they have checked current prices on their old house and would have lost double had they stayed, plus they don’t care, they don’t have a mortgage. They could have done better had they sat on the sidelines for two years and reverse flipped but in their minds, they did o.k., I can’t really argue with them about that, they could have done better or they could have done worse.

Your freind could also look at it this way, they may have lost 300k so far but they are only exposed another 300k, there are people and places that today have more exposure than that, so it can only get a little worse for them.

[temeculaguy]

Sd Realtor, funny you mentioned the demographics thatyou see. In my hood, the tracts built in the last 2 or 3 years are heavily dominated with asian and indian buyers, but interestingly enough, they dominate the foreclosures. All the while they are not a large chunk of the city demographics. On foreclosure.com if you run 92592 and look at pre-foreclosures and sheriff sales, it lists the names, maybe half are inidan or asian names, while they are less than 10% of the demographics. I know every street and it’s tract, the numbers are even more suprising when looking at bubble built tracts, maybe 80% indian or asian. I think that their diligence may have been their undoing, allowing them to buy during the bubble and the supposed bottom of 2007. They caught a lot of knives, perhaps because they were the only ones with the ability to do so. We can learn a lot from their cultures and their diligence, in this case it seemes to be just bad timing.

Future fist time buyers will re-enter the market in S.D. after the prices shake out. When 100k income gets you a decent starter home, they will come back. Until they come, the recovery wont.

[temeculaguy]

Sd Realtor, funny you mentioned the demographics thatyou see. In my hood, the tracts built in the last 2 or 3 years are heavily dominated with asian and indian buyers, but interestingly enough, they dominate the foreclosures. All the while they are not a large chunk of the city demographics. On foreclosure.com if you run 92592 and look at pre-foreclosures and sheriff sales, it lists the names, maybe half are inidan or asian names, while they are less than 10% of the demographics. I know every street and it’s tract, the numbers are even more suprising when looking at bubble built tracts, maybe 80% indian or asian. I think that their diligence may have been their undoing, allowing them to buy during the bubble and the supposed bottom of 2007. They caught a lot of knives, perhaps because they were the only ones with the ability to do so. We can learn a lot from their cultures and their diligence, in this case it seemes to be just bad timing.

Future fist time buyers will re-enter the market in S.D. after the prices shake out. When 100k income gets you a decent starter home, they will come back. Until they come, the recovery wont.

[temeculaguy]

Sd Realtor, funny you mentioned the demographics thatyou see. In my hood, the tracts built in the last 2 or 3 years are heavily dominated with asian and indian buyers, but interestingly enough, they dominate the foreclosures. All the while they are not a large chunk of the city demographics. On foreclosure.com if you run 92592 and look at pre-foreclosures and sheriff sales, it lists the names, maybe half are inidan or asian names, while they are less than 10% of the demographics. I know every street and it’s tract, the numbers are even more suprising when looking at bubble built tracts, maybe 80% indian or asian. I think that their diligence may have been their undoing, allowing them to buy during the bubble and the supposed bottom of 2007. They caught a lot of knives, perhaps because they were the only ones with the ability to do so. We can learn a lot from their cultures and their diligence, in this case it seemes to be just bad timing.

Future fist time buyers will re-enter the market in S.D. after the prices shake out. When 100k income gets you a decent starter home, they will come back. Until they come, the recovery wont.

[temeculaguy]

Sd Realtor, funny you mentioned the demographics thatyou see. In my hood, the tracts built in the last 2 or 3 years are heavily dominated with asian and indian buyers, but interestingly enough, they dominate the foreclosures. All the while they are not a large chunk of the city demographics. On foreclosure.com if you run 92592 and look at pre-foreclosures and sheriff sales, it lists the names, maybe half are inidan or asian names, while they are less than 10% of the demographics. I know every street and it’s tract, the numbers are even more suprising when looking at bubble built tracts, maybe 80% indian or asian. I think that their diligence may have been their undoing, allowing them to buy during the bubble and the supposed bottom of 2007. They caught a lot of knives, perhaps because they were the only ones with the ability to do so. We can learn a lot from their cultures and their diligence, in this case it seemes to be just bad timing.

Future fist time buyers will re-enter the market in S.D. after the prices shake out. When 100k income gets you a decent starter home, they will come back. Until they come, the recovery wont.

[temeculaguy]

Sd Realtor, funny you mentioned the demographics thatyou see. In my hood, the tracts built in the last 2 or 3 years are heavily dominated with asian and indian buyers, but interestingly enough, they dominate the foreclosures. All the while they are not a large chunk of the city demographics. On foreclosure.com if you run 92592 and look at pre-foreclosures and sheriff sales, it lists the names, maybe half are inidan or asian names, while they are less than 10% of the demographics. I know every street and it’s tract, the numbers are even more suprising when looking at bubble built tracts, maybe 80% indian or asian. I think that their diligence may have been their undoing, allowing them to buy during the bubble and the supposed bottom of 2007. They caught a lot of knives, perhaps because they were the only ones with the ability to do so. We can learn a lot from their cultures and their diligence, in this case it seemes to be just bad timing.

Future fist time buyers will re-enter the market in S.D. after the prices shake out. When 100k income gets you a decent starter home, they will come back. Until they come, the recovery wont.

[temeculaguy]

Aecetia, you know damn well that you are a nutball, but I was putting dharma in that same category, which as you know is a compliment. I’m glad you two found each other, the world will be a safer place now that someone can worry about how well free range chickens are treated.

dharma, my apologies in advance, Aecitia and I have known each other in the real world for a long time and I just like to get her riled up because I know she loves animals more than people. Don’t worry Aecitia, you are still my favorite crazy person.

[temeculaguy]

Aecetia, you know damn well that you are a nutball, but I was putting dharma in that same category, which as you know is a compliment. I’m glad you two found each other, the world will be a safer place now that someone can worry about how well free range chickens are treated.

dharma, my apologies in advance, Aecitia and I have known each other in the real world for a long time and I just like to get her riled up because I know she loves animals more than people. Don’t worry Aecitia, you are still my favorite crazy person.

[temeculaguy]

Aecetia, you know damn well that you are a nutball, but I was putting dharma in that same category, which as you know is a compliment. I’m glad you two found each other, the world will be a safer place now that someone can worry about how well free range chickens are treated.

dharma, my apologies in advance, Aecitia and I have known each other in the real world for a long time and I just like to get her riled up because I know she loves animals more than people. Don’t worry Aecitia, you are still my favorite crazy person.

[temeculaguy]

Aecetia, you know damn well that you are a nutball, but I was putting dharma in that same category, which as you know is a compliment. I’m glad you two found each other, the world will be a safer place now that someone can worry about how well free range chickens are treated.

dharma, my apologies in advance, Aecitia and I have known each other in the real world for a long time and I just like to get her riled up because I know she loves animals more than people. Don’t worry Aecitia, you are still my favorite crazy person.

[temeculaguy]

Aecetia, you know damn well that you are a nutball, but I was putting dharma in that same category, which as you know is a compliment. I’m glad you two found each other, the world will be a safer place now that someone can worry about how well free range chickens are treated.

dharma, my apologies in advance, Aecitia and I have known each other in the real world for a long time and I just like to get her riled up because I know she loves animals more than people. Don’t worry Aecitia, you are still my favorite crazy person.

[temeculaguy]

I like the site, thanks for the link. If it is esmith, nice work, again. In his writings he links ocrenter on BMIT, another nice piece of work, I need to get out more and see what others are doing. Both have more credibility every time I look at their work. When this housing bubble is all over with there will be a serious waste of writing talent, these guys make newspaper reporters look like third graders with crayons.

So if I read the analysis correctly, the last bastions of high pricing are set up for a fall and my beloved outskirts doesn’t have many exciting things in store for me, oh well. It’s not like things will be turning around anytime soon, especially if CV and the coast goes into the tank and gas breaks $5, I’ll be O.K. and you 52 corridor folks will have a nice year watching it fall.

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