Housing Rolling Along 2

I'm actually in the process of getting my real estate license here in Austin Tx, because all I see and hear from everyone I know is they are gobbling up homes here like crazy.

Every day I see more and more out of state license plates, people moving here by the 100s every day. The college kids graduate and don't want to leave...

This market is nuts here. I spoke to a bunch of different agents here(who my family is close friends with), they all have more business then they can handle....
 
The funny thing about people that 'love it' when the real estate market is in a down cycle, ie. renters, is that they are too chicken to buy anything because 'the market is going down', and then, when the market is going up, prices are 'too expensive'.

So really, just like I don't take stock advice from the guy that pumps my gas... well, you know the rest.
 
My x wife bought a new home from DR Horton here in Carlsbad last Oct. She bought it with her "new" boyfriend. I told her not to do it.

She has had on the the market now for 45 days. NO offers. Decent traffic but NO offers.

You can see the ocean from her back yard. She only wants $1.1 for it.

All you people with guts are needed in SoCal to help bail out some folks.

John
 
Quote from jficquette:

My x wife bought a new home from DR Horton here in Carlsbad last Oct. She bought it with her "new" boyfriend. I told her not to do it.

She has had on the the market now for 45 days. NO offers. Decent traffic but NO offers.

You can see the ocean from her back yard. She only wants $1.1 for it.

All you people with guts are needed in SoCal to help bail out some folks.

John
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im here in north county too. i saw a ton of signs in o'side the other day; lots of open houses - starting to see "reduced" also ... it'll hold until companies relocate or start to lay-off... im wondering if lay-offs in real estate might not start the cycle.

bought it with her new boyfriend... what an idiot. are you still paying vaginamony?
 
Quote from QQQBALL:

im here in north county too. i saw a ton of signs in o'side the other day; lots of open houses - starting to see "reduced" also ... it'll hold until companies relocate or start to lay-off... im wondering if lay-offs in real estate might not start the cycle.

bought it with her new boyfriend... what an idiot. are you still paying vaginamony?
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No, but I am helping her out. We were divorced in 2001. I have no kids but she has a daughter that was 4 years old when were were married. She is 14 now. I guess I have been hanging around to take care of her. Her father lives in Miami and she doesn't have any contact with him.

Having said that, I will probably move this summer back to Atlanta to go back into the headhunting business which is what I was doing before I moved here in 1998. I may delegate the trading to a hobby, which is all is probably should have been for me.


I think that this selling season will be make or break for a lot of people here. I guess we will see how it turns out.

John
 
Carmel Valley is a hot new area in San Diego.
Homes in one nice neighborhood were selling for about 1 million late last year. They all look a like. 4 diff models I think.

One of those home which was the exact same sq footage as one that sold in Oct last year, just went for 820K. An 18% drop! A home sold a few months prior for about the same.

I looked at all the sales since last fall, and the prices have all been going consistently down. The homes are sitting on the market longer and longer, and prices are driven down. Those monthly payments are hell, people can no longer wait 4,5,6 months to sell their homes.

I wonder if I will start seeing more guys with signs that say "Please by condo/home' on them, hahaha.

Let the burning begin.

TOL is 50% off its highs.
RYL about 40%.

I think the market has already stated this is game over. At least in the frothiest areas.
 
Quote from Covertibility:

U.S. home prices rising at slower pace
Prices up 12.5% in past year, but up just 2% in first quarter

What was the prediction about home appreciation rates this year, low single digits?
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Again, RE is regional, not a national market... Lots of negative data inside the "happy title" of that article.

If housing was a stock would you buy now?
1) Flat to down pricing in my area
2) Sales volume down 20-40%
3) Inventories up 120% from prior year.

Sounds like very sound reasons to buy now. Sheesh.
 
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