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Old 09-22-2007, 07:30 PM
 
5 posts, read 12,670 times
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Averages are an indicator but since all real estate is local there will be price differences by zip code. Some higher priced downtown condos have yet to be significantly impacted. I'm interested in 92101 but wonder what the impact will be in next 12 months.
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Old 09-23-2007, 03:19 PM
 
1,868 posts, read 5,681,130 times
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Quote:
Originally Posted by lewb View Post
Averages are an indicator but since all real estate is local there will be price differences by zip code. Some higher priced downtown condos have yet to be significantly impacted. I'm interested in 92101 but wonder what the impact will be in next 12 months.
Check it out....
San Diego Market Monitor

lots of condos in 92101 listed on here ARE apparently being impacted.

Last edited by shannon94; 09-23-2007 at 03:27 PM..
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Old 09-23-2007, 05:09 PM
 
Location: San Diego California
6,795 posts, read 7,287,224 times
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Quote:
Originally Posted by Sassberto View Post
Depends which market you are talking about. If you are talking about pre-construction condos in Downtown SD or tract homes in North County, I'd agree. But in the established neighborhoods, aside from the occasional rehabber, I don't see investors having any real impact.
Homeowners are slow to turn over their property,they bought it to live in. Investors buy and sell with the market. In the last boom there was much more buying by investors than new people moving to the area, or first time buyers. That is why foreclosures are skyrocketing but there is little population change.
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Old 12-19-2007, 09:55 AM
 
2,238 posts, read 9,015,912 times
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San Diego County's declining housing market marked another milestone last month, when median prices declined 15 percent from their all-time peak in 2005, a quicker and bigger drop than in the recessionary early 1990s, DataQuick Information Systems reported yesterday.

http://www.signonsandiego.com/news/m...n18prices.html

Wait until the majority of ARMS reset in '08, then it'll get ugly.
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Old 12-19-2007, 01:09 PM
 
609 posts, read 2,243,161 times
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Quote:
Originally Posted by achtungpv View Post
San Diego County's declining housing market marked another milestone last month, when median prices declined 15 percent from their all-time peak in 2005, a quicker and bigger drop than in the recessionary early 1990s, DataQuick Information Systems reported yesterday.

http://www.signonsandiego.com/news/m...n18prices.html

Wait until the majority of ARMS reset in '08, then it'll get ugly.
Well a lot of ARM's may not necessarily reset based on the Federal rescue package. But they will have to eventually or atleast that is the expectation. People's expectation has a lot to do with the pricing of an asset. Prices should definitely go down.
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Old 12-20-2007, 01:13 PM
 
609 posts, read 2,243,161 times
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Just wanted to post this bankrate article. With the credit standards now becoming tighter, there is not only an excess demand (by way of more houses in the market) but also a dimished supply of people who are able to finance a house purchase.

This should further push the prices downwards.

http://www.bankrate.com/brm/news/mor...changes_a1.asp
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Old 12-20-2007, 04:19 PM
 
Location: Dallas
989 posts, read 2,441,448 times
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Default got it backwards

Quote:
Originally Posted by tigerclaws View Post
Just wanted to post this bankrate article. With the credit standards now becoming tighter, there is not only an excess demand (by way of more houses in the market) but also a dimished supply of people who are able to finance a house purchase.

This should further push the prices downwards.

http://www.bankrate.com/brm/news/mor...changes_a1.asp
I think you mean an excess supply and a diminished demand.
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Old 12-21-2007, 07:50 AM
 
609 posts, read 2,243,161 times
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Quote:
Originally Posted by justsomeguy View Post
I think you mean an excess supply and a diminished demand.
I stand corrected. I was trying to do too many things I guess. Definitely there is excess supply of houses and diminished demand from people (because of tighter credit standards/cost of loans).
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Old 12-21-2007, 07:46 PM
 
Location: San Diego
1,537 posts, read 1,483,006 times
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Quote:
Originally Posted by dvflyer View Post
Home prices fall, interest rates go up. Net result = zero. The people who couldn't afford the "boom" prices are going to sit around and wait for the prices to fall only to watch the interest rates rise keeping that, now cheaper house, out of range once again.

Wrong. There's only so much buying power in the market, and it's not near enough to sustain current prices.

Higher interest rates will only cause prices to drop MORE.
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Old 12-21-2007, 07:50 PM
 
Location: San Diego
1,537 posts, read 1,483,006 times
Reputation: 1586
Quote:
Originally Posted by Luke9686 View Post
Entry level homes will fall far and fast over the next few years. The mid to high level of any market isn't as subjected to rate increases. Reason being is people who buy those house have good credit with good jobs.

If the entry level homes fall so much, where will move up buyers get the equity to join the "mid to high level" that you feel isn't as susceptible?

The whole market will continue to fall, and hard.
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