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Old 12-27-2009, 02:02 AM
 
Location: Woodland Hills, CA
51 posts, read 261,931 times
Reputation: 31

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Do you think your opinions also relate to homes that are in the $1M+ range?
I'm trying to see whether I should buy a house now or not... I can afford the payment indefinitely but would only want to do it if the home held its value (or increased even).
I'm looking for homes in Newport Beach, Irvine, etc...
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Old 12-27-2009, 11:12 AM
 
Location: Las Flores, Orange County, CA
26,329 posts, read 93,748,294 times
Reputation: 17831
Quote:
Originally Posted by Fantasm View Post
Do you think your opinions also relate to homes that are in the $1M+ range?
I'm trying to see whether I should buy a house now or not... I can afford the payment indefinitely but would only want to do it if the home held its value (or increased even).
I'm looking for homes in Newport Beach, Irvine, etc...
Trouble eyed for high-priced O.C. homes - Lansner on Real Estate : The Orange County Register
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Old 09-28-2010, 02:51 AM
 
2 posts, read 3,254 times
Reputation: 12
Check this out Fantasm;

I was looking at homes in Minneapolis, MN.

THERE ARE OVER 25,000 HOMES ON THE MARKET THERE RIGHT NOW.

Do you know what this means?

It means that EVERYONE is selling and NOBODY is buying.

Which means that prices are going to drop to the levels they were between 1995-2000. (if not lower)

I know this is not good news but its the truth.

High supply and no demand means that prices MUST fall...period.

I want to buy now, badly but I simply have to wait at least 3-4 years for prices to bottom out or I am just throwing money in the fireplace.
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Old 09-28-2010, 06:34 AM
 
Location: Everywhere and Nowhere
14,129 posts, read 31,248,320 times
Reputation: 6920
Quote:
Originally Posted by Jackson1888 View Post
I was looking at homes in Minneapolis, MN.

THERE ARE OVER 25,000 HOMES ON THE MARKET THERE RIGHT NOW.

Do you know what this means?
Folks are getting out of MN and moving to CA?
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Old 09-28-2010, 08:32 PM
 
Location: Las Flores, Orange County, CA
26,329 posts, read 93,748,294 times
Reputation: 17831
Quote:
Originally Posted by Jackson1888 View Post
THERE ARE OVER 25,000 HOMES ON THE MARKET THERE RIGHT NOW.

Do you know what this means?

It means that EVERYONE is selling and NOBODY is buying.
Actually, I don't know what that means. That is a meaningless number. It only matters relative to (amongst other things) the number of homes for sale previously and demand. For example, what happens if there were 40,000 homes for sale a year ago? That would be an indication that the housing market is healthier or recovering. Just one data point shows no trend since there is no relativity.
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Old 03-01-2011, 06:23 AM
 
Location: Las Flores, Orange County, CA
26,329 posts, read 93,748,294 times
Reputation: 17831
You got to think people who have $2M+ laying around to buy a home cash have some insight into the direction the market is going.

"the Balboa community of Newport Beach saw the highest percentage of sales going to cash buyers last year of any $1-million-plus Southland community — 66.7%."
"Other big cash markets were Montecito, with 57.2% of sales, and Beverly Hills, with 45.6%."


"The trend is being driven by several factors, analysts say, including....speculation by wealthy investors who believe home prices are at or near a bottom."

and

"because buyers are literally taking these condos and homes and they are betting prices will go up."

from

Home buying, cash only, real estate: All-cash home sales rise in California - latimes.com
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Old 03-01-2011, 06:38 AM
 
5,113 posts, read 5,971,185 times
Reputation: 1748
Quote:
Originally Posted by Charles View Post
You got to think people who have $2M+ laying around to buy a home cash have some insight into the direction the market is going.

"the Balboa community of Newport Beach saw the highest percentage of sales going to cash buyers last year of any $1-million-plus Southland community — 66.7%."
"Other big cash markets were Montecito, with 57.2% of sales, and Beverly Hills, with 45.6%."


"The trend is being driven by several factors, analysts say, including....speculation by wealthy investors who believe home prices are at or near a bottom."

and

"because buyers are literally taking these condos and homes and they are betting prices will go up."

from

Home buying, cash only, real estate: All-cash home sales rise in California - latimes.com
Here is a question: How many cash home sales of 1M+ homes in January?
LA Time has consistently thrown out these BS stories over the past two years.
BTW: Pending home sales are down in January like 30% from December.
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Old 03-08-2011, 06:37 AM
 
5,113 posts, read 5,971,185 times
Reputation: 1748
"By any judgement you still have a lot of damage for the market to absorb over time. That's going to take a fair amount more time," Geithner said in response to a question during testimony on the future of Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) before the House Financial Services Committee.

-Tim Geithner March 1, 2011
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Old 12-17-2012, 05:00 PM
 
619 posts, read 2,167,939 times
Reputation: 261
up up up!
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Old 12-17-2012, 05:03 PM
 
11,715 posts, read 40,446,365 times
Reputation: 7586
Quote:
Originally Posted by flo2900 View Post
up up up!
Buy now or be priced out forever!
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