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 AUTHOR
 StrangerInTheHouse
Joined: 2/9/2008
Msg: 1
CA Real EstatePage 1 of 1    
I looked for the earlier thread we had going but couldn't find it. Feel free to delete this one if you do...
However... I noticed that the bay area housing sales for existing homes went up 30 percent in April-the biggest gain in 20 years.
 kjamesb
Joined: 3/24/2007
Msg: 2
CA Real Estate
Posted: 5/23/2008 11:59:19 AM
13 vs 10 sales is a 30% increase. When nothing is happening ANY increase looks big.
 StrangerInTheHouse
Joined: 2/9/2008
Msg: 3
CA Real Estate
Posted: 5/23/2008 12:30:04 PM


13 vs 10 sales is a 30% increase. When nothing is happening ANY increase looks big.

Hmmm.... well, there's different ways to spin that, then...
Ask yourself this: how much have CA real estate prices DROPPED?
.... and isn't 30% big?
It's bigger than -30%... is it not?
13 vs 10?
Now commmmmmmmmmmmmmmmmmmmme on...

in CA?

I don't think so.
 MermaidSari
Joined: 2/4/2007
Msg: 4
view profile
History
CA Real Estate
Posted: 4/11/2010 8:57:47 AM
Hey Stranger. My first thread got locked for off-topic political wars (I think anyway).

Interesting considering the age of this thread as far as the up and then down again. :-p

The bay area in general has not been hit as hard as Southern CA though. Southern CA has an enormous shadow inventory being held back (gov. actions to try to keep folks in their homes).

Some refinances are going well for home owners...most are not though and so this shadow inventory remains a mystery to investors and will serve to lower home sales until investors start seeing something trinkle in (so we all can be fooled by another spike and folks believing the bottom has hit perhaps?...not that I'm cynical, mind you). ;-p
 ~Land Shark~
Joined: 7/8/2008
Msg: 5
CA Real Estate
Posted: 4/15/2010 4:02:38 PM
I'm in the market to buy right now and have been watching closely since December. Here's what I see (at least in my price range)...

Invetsors are out in FORCE, keeping the lower end prices somewhat stable but they HAVE eeked down just a bit. I'm expecting the summer buying season to hold prices or even increase just a bit, but then in August or September whatever is left will start to drop dramaitcally...again maybe not as much in MY price range but it should still go down.

Just starting to see some REO's on the MLS so SOME of that shadow inventory is starting to come available. The banks will probably keep it a trickle so as not to destroy prices in the short term. D@mn!

At the very least I'm content to be patient with the knowledge that unless something BIG happens, at the very least prices aren't going up for some time.
 MermaidSari
Joined: 2/4/2007
Msg: 6
view profile
History
CA Real Estate
Posted: 5/18/2010 8:31:21 PM
8k golf...make that 10k if a new home buyer (unfortunately the 6.5k for non-first time buyers was not as long)...hmmmm...

85% ?? :-p (isn't that the current ratio for people up-side down in their homes)?

Missed you Golf!
 kittybiscuit
Joined: 2/11/2007
Msg: 7
CA Real Estate
Posted: 5/26/2010 9:33:15 AM
What about rental property? I was thinking of getting a condo super cheap that I can rent for a few years and then gut and let my mom live there when she retires or sell if she doesn't.

I have a very strong suspicion that in the Carter II administration we are going to see history repeat itself with inflation rates going up. If that is the case, wouldn't buying now at a low price be a good investment if inflation occurs, especially on a rental? At least much better than keeping cash in the bank?
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