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Old 02-26-2008, 07:53 PM
 
Location: San Antonio
944 posts, read 2,801,495 times
Reputation: 263

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Thanks for your kind words. Here's the link, cupcake

Housing Woes - Fortune Magazine
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Old 02-26-2008, 08:00 PM
 
84 posts, read 198,166 times
Reputation: 30
Quote:
Originally Posted by Retired-&-going-back-2-CA View Post


Are you serious or being sarcastic?
Nope. Being serious here. It's a "buyers" market right now. Foreclosures are at all time HIGH, which means lower prices for the rest of us.....Buying a 3/2 at half cost is a great deal. They're are lots of these deals out there, and now is the time to buy!

Buy low, sell high.
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Old 02-26-2008, 08:11 PM
 
656 posts, read 1,682,003 times
Reputation: 447
Quote:
Originally Posted by hello13685 View Post
Thanks for your kind words. Here's the link, cupcake

Housing Woes - Fortune Magazine
Thanks, I went' looking for this but didn't find it.... Though it does show that you overstated by a large amount......

First the list is about Upscale Homes, defined as those that sell for double the local median price.

Second The San Antonio average is projected to go from $302k to $262k, which from my admittedly weak Texas education would be a 13.2% decrease, much less than your stated 25%....

The largest decrease was Orlando at what looks like about 34%....

Last edited by smitty12; 02-26-2008 at 08:38 PM..
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Old 02-26-2008, 08:13 PM
 
11 posts, read 34,046 times
Reputation: 10
My wife is a realtor and she is doing fine selling rentals as so many are spooked by the house price drops throughout the country. Fortune magazine is just a magazine - its purpose is to sell. We subscribe to Money magazine and we keep a copy from a few years ago that is entitled at the top of the cover "The Housing Boom". REMEMBER FORTUNE WANTS TO SELL so don't take it so literally.
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Old 02-26-2008, 08:15 PM
 
Location: North Central
59 posts, read 188,165 times
Reputation: 23
Quote:
Originally Posted by Jody84 View Post
Nope. Being serious here. It's a "buyers" market right now. Foreclosures are at all time HIGH, which means lower prices for the rest of us.....Buying a 3/2 at half cost is a great deal. They're are lots of these deals out there, and now is the time to buy!

Buy low, sell high.
I'm confused now because you were doubting the poster's (hello) opinion on the SA market tumbling and talking about the housing boom in the NW and how great it is to be in real estate at the moment.
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Old 02-26-2008, 08:24 PM
 
Location: San Antonio
4,149 posts, read 9,302,475 times
Reputation: 3308
And heeerrrreeee we go again! Housing sucks. No it doesn't. Yes it does. No it doesn't.

The market isn't tumbling, nor will it. I can only go on my personal experience of doing more deals than the vast majority of agents out there. Granted, I don't read any publications looking to sell with bad news, so I may not be as "informed" as others, but the sky isn't falling. And it won't. I live IN real estate every day, and while we're a bit off from last year, we're fine.

These stupid threads always end the same way with the same posters saying the same thing. Myself included. It's really a ridiculous waste of time for everyone because it just turns into a giant p***ing match.

And besides, I'm always the right one
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Old 02-26-2008, 08:37 PM
 
Location: San Antonio
944 posts, read 2,801,495 times
Reputation: 263
Hi Smitty,

My blunder-- I was looking at the rent/price ratio corrections. You're right with 13%. But even IF housing just stagnates here, everyone with a mortgage will be paying 6% or more on a flatline asset. Bummer, because you're all so sweet...
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Old 02-26-2008, 08:51 PM
 
Location: San Antonio
4,149 posts, read 9,302,475 times
Reputation: 3308
Quote:
Originally Posted by hello13685 View Post
Thanks for your kind words. Here's the link, cupcake

Housing Woes - Fortune Magazine
That link takes two arbitrary numbers that say what they want the article to. What is "upscale" housing and where did they get a median number for that? It's not median in SA. It's sure not luxury ($600K+) homes. Where did they get those numbers? They picked a tiny segment that makes their article work and said "yeah, we'll use the prices from ____ to ___. There was a slight drop there!" There are 10 million articles that say 10 million different things.
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Old 02-26-2008, 08:57 PM
 
Location: San Antonio
4,149 posts, read 9,302,475 times
Reputation: 3308
Quote:
Originally Posted by leslie b View Post
As in..
Nothing to see here, move along.
Yep, that's the ticket.
If you, as a real estate salesman, are uncomfortable with the discussion - well, ignore it. But please do not condescend to those of us who are interested in discussing and learning more about the local real estate market. I'm seeing homes priced at $350K in my neighborhood that have been on the market for over a year. I wonder how "fine" these sellers feel? Kind of looks like a tumbling market to me.
And I'm seeing houses sold every day for more than people bought them for a few years ago in many more neighborhoods than just yours.

I'm not condescending. I'm simply stating that about every two weeks this subject comes up and it's nothing but people's opinions that they're getting from arbitrary magazines or news stories. It's the same thing over and over and nothing ever comes of it. It's a bunch of people saying "I'm right because I said so". I've posted MLS numbers (which are the actual numbers of sales, not a news story) that prove the market is fine. It's a little slower than our best year ever, but it's better than all but 3 years than SA has ever has. People are going to believe what they want, but nobody ever "learns" anything from these threads.
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Old 02-26-2008, 09:03 PM
Status: "just keep scrolling then?" (set 12 days ago)
 
14,613 posts, read 31,135,787 times
Reputation: 6656


Here we go......
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