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View Poll Results: What do you think housing prices will do over the next year or so?
Continue to go up dramatically 14 14.43%
Continue to rise, but at a slower pace 42 43.30%
Level off 15 15.46%
Decline a little 15 15.46%
2008 all over again! 11 11.34%
Voters: 97. You may not vote on this poll

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Old 07-17-2018, 11:05 PM
 
Location: San Diego
1,538 posts, read 1,483,810 times
Reputation: 1591

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Quote:
Originally Posted by someguy10 View Post
Do the inventory numbers include contingent and in-contract properties? If they do, we can't say for sure -- available inventory could be up or, if most of the ~90 are contingent/in-contract, then inventory could be the same (or even lower) but turnover is up significantly.

There may be a few contingent but my guess is not many. Why would it take so long to close?

RB looks like a buyer's market compared to earlier in the year, but I have to admit I don't know what a "normal" level of for sale inventory is. Would be interested in hearing from anyone who knows.
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Old 07-18-2018, 02:21 AM
 
Location: San Diego A.K.A "D.A.Y.G.O City"
1,996 posts, read 4,770,445 times
Reputation: 2743
Quote:
Originally Posted by DougStark View Post
One obvious point no-one mentioned is the fact that SD (and CA in general) are not the only "nice" places in the US to live, even if the climate may not be as ideal elsewhere. Go visit the Denver forum, for example. Everyone's mentioning the skyrocketing RE prices (and many are CA ex-pats.) My point is, at a certain point (inflated RE price), people realize the grass is greener elsewhere.

Very true. CA’s housing market is extremely over inflated and I understand that the value of something is whatever someone is willing to pay, but sometimes you have to use common sense and just observe it’s true value through your own eyes.

A 1920’s-30’s 1200sqft House is not worth almost a million dollars, plain and simple, I don’t care how fixed it is.

Remember when a million dollar home in CA meant living in a mansion? How fast things have changed for the worse. Now a million dollar house in some parts in CA are literally shacks.

Shockingly there’s people that aren’t from here that are paying that kind of money for a home like this.


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Last edited by sdlife619; 07-18-2018 at 02:57 AM..
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Old 07-18-2018, 05:58 AM
 
Location: San Diego
50,291 posts, read 47,043,365 times
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It's not just S Cal people. Take a look at places like Seattle, Denver, and Austin. The more desirable places to live in the US have gotten real expensive.
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Old 07-18-2018, 06:15 AM
 
18,172 posts, read 16,398,084 times
Reputation: 9328
Quote:
Originally Posted by 1AngryTaxPayer View Post
It's not just S Cal people. Take a look at places like Seattle, Denver, and Austin. The more desirable places to live in the US have gotten real expensive.
Location, location, location. The junk house will be torn down and a new one built. Can't build new land.
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Old 07-18-2018, 06:43 AM
 
771 posts, read 835,900 times
Reputation: 824
Quote:
Originally Posted by JohnAlt View Post
There may be a few contingent but my guess is not many. Why would it take so long to close?

RB looks like a buyer's market compared to earlier in the year, but I have to admit I don't know what a "normal" level of for sale inventory is. Would be interested in hearing from anyone who knows.
Here's an example timeline in a frothy market like SD. This is "closing in 30 days" which is not unusual. Fast all-cash investor deals might close in as few as 14 days and "normal" owner-occupier deals could easily go beyond 30 due to inspection issues, financing delays and whatnot.

Day 1: House is listed
Day 2-5: Offers received/Counter offer(s)
Day 6: Offer accepted; MLS updated as conting./in contract
Day 23: Standard 17-day inspection/financing/etc windows ends -- buyer lifts all contingencies
Day 37: Home closes; updated as sold in the MLS

In that example, the home would be in the MLS 37 days and, if the SD Lookup wasn't filtering out contingent/in-contracts, would be counted in the numbers you cited all 37 days. But for all intents, it was only "available inventory" for 6 of those 37 days.
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Old 07-18-2018, 08:18 AM
 
Location: San Diego
50,291 posts, read 47,043,365 times
Reputation: 34079
Quote:
Originally Posted by someguy10 View Post
Here's an example timeline in a frothy market like SD. This is "closing in 30 days" which is not unusual. Fast all-cash investor deals might close in as few as 14 days and "normal" owner-occupier deals could easily go beyond 30 due to inspection issues, financing delays and whatnot.

Day 1: House is listed
Day 2-5: Offers received/Counter offer(s)
Day 6: Offer accepted; MLS updated as conting./in contract
Day 23: Standard 17-day inspection/financing/etc windows ends -- buyer lifts all contingencies
Day 37: Home closes; updated as sold in the MLS

In that example, the home would be in the MLS 37 days and, if the SD Lookup wasn't filtering out contingent/in-contracts, would be counted in the numbers you cited all 37 days. But for all intents, it was only "available inventory" for 6 of those 37 days.
In my hood houses are being sold while the "coming soon" sign is up and for much more than asking price.
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Old 07-18-2018, 10:26 AM
 
Location: La Mesa Aka The Table
9,824 posts, read 11,548,625 times
Reputation: 11900
Quote:
Originally Posted by 1AngryTaxPayer View Post
In my hood houses are being sold while the "coming soon" sign is up and for much more than asking price.
This^^^
Houses are not lasting long on the market in La Mesa, Like the good ole day. Ive seen 2 "coming Soon" signs in my neighborhood only to see a, "For sale sign" come up days later.
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Old 07-18-2018, 11:38 AM
 
9,527 posts, read 30,477,668 times
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In my immediate area of 92119, probably 3-4 homes for sale at any given time and most are contingent within 7 days. In my old neighborhood, about the same but the homes take more like 15-30 days to go pending.
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Old 07-18-2018, 12:05 PM
 
18,172 posts, read 16,398,084 times
Reputation: 9328




2017 sold 42587

2016 sold 43200
2015 sold 42800

2003: Peak Year 60800



San Diego housing indicators | first tuesday Journal

2017 actual sales 0f 42587

Last year's housing market broke records - The San Diego Union-Tribune


San Diego County Summary Statistics - San Diego Association of ...

media.sdar.com/media/CurrentStats.pdf





Detached Total Counts:



2018 10,898 homes

2017 12,058

Attached:
2018 5793 homes
2017 6127homes


Does not look that good.

Last edited by expatCA; 07-18-2018 at 12:13 PM..
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Old 07-18-2018, 12:19 PM
 
Location: San Diego A.K.A "D.A.Y.G.O City"
1,996 posts, read 4,770,445 times
Reputation: 2743
Quote:
Originally Posted by hitman619 View Post
This^^^
Houses are not lasting long on the market in La Mesa, Like the good ole day. Ive seen 2 "coming Soon" signs in my neighborhood only to see a, "For sale sign" come up days later.
It’s crazy bro!

La Mesa has become so expensive thesedays. It’s just as expensive as some of the other fancy high priced neighborhoods in SD.

San Carlos is ridiculous too!
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