Current SA Housing Market (San Antonio, Anton: real estate market, foreclosure, mortgage)

[banker]

Originally Posted by kevcrawford

But the beauty of my situation is that I make more every year because I'm good at what I do. The economy really doesn't affect me because when it's slow, more Realtors go out of business, thus much less competition. I'm going to make a good living regardless. It's the same in any business. The good ones make a great living in a slower market.

What I meant by slower but strong was that we stagnated in value, but didn't really drop. Some places continued to go up a little. Overall sales were down slightly, but they were down compared to all time highs.

I'm thinking that to turn the housing market around the National Association of Realtors should buy time advertising how amazingly awesome a KB 4-sides brick house is that that everyone should own one. Then we should speak about it at every single opportunity possible.

I didn't bring up four sides anything!!! We are talking about the economy here. That comments brings nothing of value to this conversation. We are seeing values drop in communities around the north central area...so I beg to differ. Just look at the home sales in San Antonio...for houses to move the prices are coming down. Foreclosures are on the rise in Bexar County - further pushing prices down. And the AT&T move has also hurt the over $400K house range.

But hey, whatever floats your boat. I'm glad you are making money in this economy.

[kevcrawford]

We're seeing asking prices drop, but sales prices are not below what they were a few years ago. THAT'S when values drop.

You try to paint me as a shill for the industry, when in fact I just point out facts. My point was that I don't NEED the industry to be good to make money, so I don't have to paint a rosy picture for people. I speak about things I know.

[lemonfresh]

Originally Posted by banker

I have to laugh..."slower yes, but still strong" What does that mean?

Expensive, but cheap... Ugly but beautiful... fast but slow... Roseanne but Scarlett Johansson...

Considering your examples are all opposite related, expensive being the opposite of cheap, fast the opposite of slow, etc, slower is not the opposite of strong so your post makes no sense.

You can have a slower market but still a strong market.

[banker]

Originally Posted by kevcrawford

We're seeing asking prices drop, but sales prices are not below what they were a few years ago. THAT'S when values drop.

You try to paint me as a shill for the industry, when in fact I just point out facts. My point was that I don't NEED the industry to be good to make money, so I don't have to paint a rosy picture for people. I speak about things I know.

Facts:
- Dramatic drop in auto sales (never before seen % drop)
- Circuit City Bankrupt
- Linnens and Things Bankrupt
- WaMu - failed
- Wachovia - nearly failed sold to WF
- Country on the verge of bank nationalization
- Foreclosures at record levels across the nation (including Bexar County)
- Unemployment numbers climbing at record numbers
- Unknown long term impact to reckless government spending now in the Trillions of dollars as they try to bailout our economy.
- Bank failures going at the rate of one per week in 2009.
- property values dropping at record levels all over the country - look at the case/shiller index! Property Qwest Blog - Real Estate News, Economics, and Housing Data: S&P Case-Shiller Housing Price Index - January 2009

How can you spin these facts and sum them up as just election year issues impacting the housing market. I understand that election years traditionally have economic jitters as new administrations take office...but to throw that out as the underlying reason when folks question the underlying strength of our local/national housing market...is irresponsible.

[banker]

Originally Posted by lemonfresh

Considering your examples are all opposite related, expensive being the opposite of cheap, fast the opposite of slow, etc, slower is not the opposite of strong so your post makes no sense.

You can have a slower market but still a strong market.

OK...

Property Qwest Blog - Real Estate News, Economics, and Housing Data: S&P Case-Shiller Housing Price Index - January 2009

[kevcrawford]

Originally Posted by banker

Facts:
- Dramatic drop in auto sales (never before seen % drop)
- Circuit City Bankrupt
- Linnens and Things Bankrupt
- WaMu - failed
- Wachovia - nearly failed sold to WF
- Country on the verge of bank nationalization
- Foreclosures at record levels across the nation (including Bexar County)
- Unemployment numbers climbing at record numbers
- Unknown long term impact to reckless government spending now in the Trillions of dollars as they try to bailout our economy.
- Bank failures going at the rate of one per week in 2009.
- property values dropping at record levels all over the country - look at the case/shiller index! Property Qwest Blog - Real Estate News, Economics, and Housing Data: S&P Case-Shiller Housing Price Index - January 2009

How can you spin these facts and sum them up as just election year issues impacting the housing market. I understand that election years traditionally have economic jitters as new administrations take office...but to throw that out as the underlying reason when folks question the underlying strength of our local/national housing market...is irresponsible.

I didn't say the election was the SOLE issue. I said that even if your little list above didn't exist right now, it'd still have been slow at election time.

You're hearing what you want to hear. I think we probably both agree that the economy isn't in great shape, but my point apparently isn't penetrating through the brick siding on your house into your computer, so I'll end the conversation here.

[kevcrawford]

And using someone's blog to get "facts" is like using wikipedia.

[banker]

Originally Posted by kevcrawford

And using someone's blog to get "facts" is like using wikipedia.

The blog I used was a nice summary...but here is the hard link...

http://www2.standardandpoors.com/spf...ase_012724.pdf

[Eleanor Rigby]

And the AT&T move has also hurt the over $400K house range.

This is the absolute gospel truth. There is not a man more disliked in Olmos Park right now than Randall Stephenson. People are even angrier than when Bart Koontz tried to shut down the San Antonio Gun Club. Stephenson's house, by the way, saw its price cut by a hundred grand this month. Word is that the relo company is going to keep slashing by 50K and 100K until it sells.

[crittergal]

"But know this, that in the last days critical times hard to deal with will be here." 2 Timothy 3:1......Interesting thought.