RealEstate - THIS WILL BLOW YOUR MIND

Oceanside is getting destroyed too

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Mira Mesa is a real nice area. I can see how it happened, top dollar, no discount on the bid, min down, neg am, I'll refi when it adjusts for cash out...OH CRAP! You mean I can't? How'd that happen?
Screw it, I'll rent, C'ya!
 
There now more bank owned properties in san diego than there are homes being sold! Id sure hate to be a seller right now, holy shit

At the same time, were still very close to the all time record high for inventory.

There is no sign of a bottom

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PB is still WAY over priced. I am waiting for the homes to come off in value like the condos have, but this hasn't really started yet. The small little bungalows that are everywhere here start at about 500k. That's for about 650 square feet!

Condos are dropping like a rock though.
 
Do you think there is any way we could hit a bottom within 2 years? The last boom had 5 straight years of negative prices. This bubble is much larger. We just had our first year of solid price declines which blew away the previous real estate bear of 5% losses a year tops.

I have a lot of dry powder waiting for a good deal, but I think im going to be waiting for quite some time before I see signs of a bottom.

Whats the earliest a real bottom could be put in? I think we hit bottom and stay there for quite some time.
 
Quote from sellingrich:

Mira Mesa is a real nice area. I can see how it happened, top dollar, no discount on the bid, min down, neg am, I'll refi when it adjusts for cash out...OH CRAP! You mean I can't? How'd that happen?
Screw it, I'll rent, C'ya!
More...

Mira Mesa a nice area? NOT. The only semi-decent houses are sitting off of Sorrento Valley Blvd., but even those are not that great...

RT
 
Quote from traderdragon2:

Whoa
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Thar she blows!
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OK SERIOUS QUESTION... who thinks we end up tagging the bottom of this graph on panic momentum???

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You might want to give piggington credit where credit is due.

RT
 
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