[urbanrealtor]

Not looking at hard data as I write this but this is the area where I live and specialize in.

It seems that the SFRs in desirable uptown neighborhoods have a relatively less elastic demand curve than most of the county.

Prices there seem more like 2007 than 2005 but again I am not looking at data as I write this.

Simply put, prices don’t really need to drop there much for desire and easy lending to create effective demand.

Thats why anything with a second commode (like even in the garage) gets an extra 100k in value there.

[urbanrealtor]

Not looking at hard data as I write this but this is the area where I live and specialize in.

It seems that the SFRs in desirable uptown neighborhoods have a relatively less elastic demand curve than most of the county.

Prices there seem more like 2007 than 2005 but again I am not looking at data as I write this.

Simply put, prices don’t really need to drop there much for desire and easy lending to create effective demand.

Thats why anything with a second commode (like even in the garage) gets an extra 100k in value there.

[urbanrealtor]

[quote=patb]The reason i’m asking, is i’m thinking of making
an all cash offer on a decent place but the agents
are “We have several outstanding offers”, well
that’s fine, i’m not getting into a bidding contest.

I’d rather bid low all cash and lose out then
overbid and get hosed, especially in a deflationary environment.[/quote]
Not all market segments are deflationary right now.
Honestly only a few are.

I just had a client who made an offer on a short back in may at $440k for large house in Clairemont (like 1900 sf). We finally got approval and they got cold feet.

The other night he calls me to find out prices on some places he has noticed for sale. A similar place now runs about $480k.

Considering that the monthlies are comparable with rents and supported by area income at that price, I consider those prices unlikely to drop any time soon.

Of course a major economic event could change this, but the stability is suggested by standard and demonstrable history going back to the 1940s.

The point is that all offers should be based on solid number-crunching.

[urbanrealtor]

[quote=patb]The reason i’m asking, is i’m thinking of making
an all cash offer on a decent place but the agents
are “We have several outstanding offers”, well
that’s fine, i’m not getting into a bidding contest.

I’d rather bid low all cash and lose out then
overbid and get hosed, especially in a deflationary environment.[/quote]
Not all market segments are deflationary right now.
Honestly only a few are.

I just had a client who made an offer on a short back in may at $440k for large house in Clairemont (like 1900 sf). We finally got approval and they got cold feet.

The other night he calls me to find out prices on some places he has noticed for sale. A similar place now runs about $480k.

Considering that the monthlies are comparable with rents and supported by area income at that price, I consider those prices unlikely to drop any time soon.

Of course a major economic event could change this, but the stability is suggested by standard and demonstrable history going back to the 1940s.

The point is that all offers should be based on solid number-crunching.

[urbanrealtor]

[quote=patb]The reason i’m asking, is i’m thinking of making
an all cash offer on a decent place but the agents
are “We have several outstanding offers”, well
that’s fine, i’m not getting into a bidding contest.

I’d rather bid low all cash and lose out then
overbid and get hosed, especially in a deflationary environment.[/quote]
Not all market segments are deflationary right now.
Honestly only a few are.

I just had a client who made an offer on a short back in may at $440k for large house in Clairemont (like 1900 sf). We finally got approval and they got cold feet.

The other night he calls me to find out prices on some places he has noticed for sale. A similar place now runs about $480k.

Considering that the monthlies are comparable with rents and supported by area income at that price, I consider those prices unlikely to drop any time soon.

Of course a major economic event could change this, but the stability is suggested by standard and demonstrable history going back to the 1940s.

The point is that all offers should be based on solid number-crunching.

[urbanrealtor]

[quote=patb]The reason i’m asking, is i’m thinking of making
an all cash offer on a decent place but the agents
are “We have several outstanding offers”, well
that’s fine, i’m not getting into a bidding contest.

I’d rather bid low all cash and lose out then
overbid and get hosed, especially in a deflationary environment.[/quote]
Not all market segments are deflationary right now.
Honestly only a few are.

I just had a client who made an offer on a short back in may at $440k for large house in Clairemont (like 1900 sf). We finally got approval and they got cold feet.

The other night he calls me to find out prices on some places he has noticed for sale. A similar place now runs about $480k.

Considering that the monthlies are comparable with rents and supported by area income at that price, I consider those prices unlikely to drop any time soon.

Of course a major economic event could change this, but the stability is suggested by standard and demonstrable history going back to the 1940s.

The point is that all offers should be based on solid number-crunching.

[urbanrealtor]

[quote=patb]The reason i’m asking, is i’m thinking of making
an all cash offer on a decent place but the agents
are “We have several outstanding offers”, well
that’s fine, i’m not getting into a bidding contest.

I’d rather bid low all cash and lose out then
overbid and get hosed, especially in a deflationary environment.[/quote]
Not all market segments are deflationary right now.
Honestly only a few are.

I just had a client who made an offer on a short back in may at $440k for large house in Clairemont (like 1900 sf). We finally got approval and they got cold feet.

The other night he calls me to find out prices on some places he has noticed for sale. A similar place now runs about $480k.

Considering that the monthlies are comparable with rents and supported by area income at that price, I consider those prices unlikely to drop any time soon.

Of course a major economic event could change this, but the stability is suggested by standard and demonstrable history going back to the 1940s.

The point is that all offers should be based on solid number-crunching.

[urbanrealtor]

[quote=temeculaguy]Politics shmolotics, the biggest waste of time I can think of. I was about to permanently ignore this thread because of the political overtones until allan and urban mentioned some of my favorite things, hot brazillian chicks, being one of them. I did an image search and yowsa!!! I still believe that Christina Hendricks is proof that a higher power exists because evoloution can’t be that good. I also agree with Bill Simmons that the phrase “on a scale of one to ten” should be permanently changed to “on a scale of one to Christina Hendricks nude scene.”

But Morena is in that same conversation of “permanent phrase changes.”

So now if I find a genie in a bottle, my first two wishes are already allocated.[/quote]

yo-saf-bridge was my favorite-est character ever.

[urbanrealtor]

[quote=temeculaguy]Politics shmolotics, the biggest waste of time I can think of. I was about to permanently ignore this thread because of the political overtones until allan and urban mentioned some of my favorite things, hot brazillian chicks, being one of them. I did an image search and yowsa!!! I still believe that Christina Hendricks is proof that a higher power exists because evoloution can’t be that good. I also agree with Bill Simmons that the phrase “on a scale of one to ten” should be permanently changed to “on a scale of one to Christina Hendricks nude scene.”

But Morena is in that same conversation of “permanent phrase changes.”

So now if I find a genie in a bottle, my first two wishes are already allocated.[/quote]

yo-saf-bridge was my favorite-est character ever.

[urbanrealtor]

[quote=temeculaguy]Politics shmolotics, the biggest waste of time I can think of. I was about to permanently ignore this thread because of the political overtones until allan and urban mentioned some of my favorite things, hot brazillian chicks, being one of them. I did an image search and yowsa!!! I still believe that Christina Hendricks is proof that a higher power exists because evoloution can’t be that good. I also agree with Bill Simmons that the phrase “on a scale of one to ten” should be permanently changed to “on a scale of one to Christina Hendricks nude scene.”

But Morena is in that same conversation of “permanent phrase changes.”

So now if I find a genie in a bottle, my first two wishes are already allocated.[/quote]

yo-saf-bridge was my favorite-est character ever.

[urbanrealtor]

[quote=temeculaguy]Politics shmolotics, the biggest waste of time I can think of. I was about to permanently ignore this thread because of the political overtones until allan and urban mentioned some of my favorite things, hot brazillian chicks, being one of them. I did an image search and yowsa!!! I still believe that Christina Hendricks is proof that a higher power exists because evoloution can’t be that good. I also agree with Bill Simmons that the phrase “on a scale of one to ten” should be permanently changed to “on a scale of one to Christina Hendricks nude scene.”

But Morena is in that same conversation of “permanent phrase changes.”

So now if I find a genie in a bottle, my first two wishes are already allocated.[/quote]

yo-saf-bridge was my favorite-est character ever.

[urbanrealtor]

[quote=temeculaguy]Politics shmolotics, the biggest waste of time I can think of. I was about to permanently ignore this thread because of the political overtones until allan and urban mentioned some of my favorite things, hot brazillian chicks, being one of them. I did an image search and yowsa!!! I still believe that Christina Hendricks is proof that a higher power exists because evoloution can’t be that good. I also agree with Bill Simmons that the phrase “on a scale of one to ten” should be permanently changed to “on a scale of one to Christina Hendricks nude scene.”

But Morena is in that same conversation of “permanent phrase changes.”

So now if I find a genie in a bottle, my first two wishes are already allocated.[/quote]

yo-saf-bridge was my favorite-est character ever.

[urbanrealtor]

Also, I think I would go to Brazil just to meet Morenas people.

If they are anywhere near as smoking hot as her…

[urbanrealtor]

Also, I think I would go to Brazil just to meet Morenas people.

If they are anywhere near as smoking hot as her…

[urbanrealtor]

Also, I think I would go to Brazil just to meet Morenas people.

If they are anywhere near as smoking hot as her…

[Author]

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