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Old 03-18-2008, 09:31 PM
 
134 posts, read 480,471 times
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OMG how will they pay for a new BMW every year?
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Old 03-19-2008, 02:00 AM
 
Location: Shallow alcove hidden from the telescreen
2,766 posts, read 9,271,242 times
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Originally Posted by desertdawgx View Post
OMG how will they pay for a new BMW every year?
C'mon, you're talking about an agricultural working county where not everyone can afford a BMW. Said another way: Ventura County extends way beyond Westlake Village and Thousand Oaks (thank God).

Maybe 24.8% is an average, but I can tell you that prices are back to 2003 numbers in some parts of the county.
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Old 03-19-2008, 07:19 AM
 
Location: Las Flores, Orange County, CA
26,347 posts, read 76,413,557 times
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Originally Posted by cre8 View Post
C'

Maybe 24.8% is an average, but I can tell you that prices are back to 2003 numbers in some parts of the county.
I've been watching this too. Our neighborhood in Lang Ranch (east of Los Arboles and Westlake) is maybe down 10%, that's it.
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Old 03-20-2008, 01:36 AM
 
Location: Shallow alcove hidden from the telescreen
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Originally Posted by Charles View Post
I've been watching this too. Our neighborhood in Lang Ranch (east of Los Arboles and Westlake) is maybe down 10%, that's it.
Yep, but no surprise that it's a lot tougher where money is tighter. Until the banks and the credit issues sort themselves out, opportunities to buy is out of the question for anyone slim on means to begin with. The banks determine who can afford what based on the types of loan products they want to offer. This also determines who can sell or not. (I'm feeling the sting of getting stuck with a property I thought would be sold by now, but is turning into a rental.) Same ol' same ol'. The banks giveth (opportunities to buy) and the banks taketh away (opportunities to sell).

Last edited by Winston Smith; 03-20-2008 at 01:48 AM..
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Old 03-20-2008, 06:59 AM
 
Location: Las Flores, Orange County, CA
26,347 posts, read 76,413,557 times
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Quote:
Originally Posted by cre8 View Post
Yep, but no surprise that it's a lot tougher where money is tighter. Until the banks and the credit issues sort themselves out, opportunities to buy is out of the question for anyone slim on means to begin with. The banks determine who can afford what based on the types of loan products they want to offer. This also determines who can sell or not. (I'm feeling the sting of getting stuck with a property I thought would be sold by now, but is turning into a rental.) Same ol' same ol'. The banks giveth (opportunities to buy) and the banks taketh away (opportunities to sell).
Slightly off topic...

Is it really that bad for people with good credit? Fixed 30s and in the low 5s, right? Housing prices are down. Unemployment is pretty low. There was a very encouraging (for me and a lot of others) article in this morning's World Champion LA Times:

U.S. put on the defensive - Los Angeles Times (broken link)

(Use Bugmenot.com - login with these free web passwords to bypass compulsory registration for free logins and passwords.)
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Old 03-20-2008, 01:29 PM
 
Location: Shallow alcove hidden from the telescreen
2,766 posts, read 9,271,242 times
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Originally Posted by Charles View Post
Slightly off topic...

Is it really that bad for people with good credit?
The problem in some parts of Ventura County is not always bad credit and sub-prime borrowers. The problem is housing that's too expensive vs. the means to purchase. Incomes across the county vary far more than property values, so with the banks pulling back, people of modest means can no longer buy and property values are starting to fall in line.
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Old 03-21-2008, 10:11 AM
 
1,297 posts, read 4,731,897 times
Reputation: 550
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Originally Posted by cre8 View Post
Yep, but no surprise that it's a lot tougher where money is tighter. Until the banks and the credit issues sort themselves out, opportunities to buy is out of the question for anyone slim on means to begin with. The banks determine who can afford what based on the types of loan products they want to offer. This also determines who can sell or not. (I'm feeling the sting of getting stuck with a property I thought would be sold by now, but is turning into a rental.) Same ol' same ol'. The banks giveth (opportunities to buy) and the banks taketh away (opportunities to sell).
Last man in holds the bag.

Best to use opportunities of the financial market for an investment within your financial scope. Problems develop when those unique opportunities become the only option.
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