Sorry doom and gloomers. The real estate market is hot in California.

Jesus god...what a fucking tool you must be. Because you can't read for shit.

No one is claiming that the RE market is even close to what is was in the 2003 in Socal. But the ALL the DATA plainly shows that it's getting quite better than it was in 2007.

Inflection point...get to know it. But of course no Lawyer that I have ever met could pass pass basic Algebra much less simple Y-o-y math.



Quote from jem:

cram down makes what I do seem to complex. When we had bankruptcy laws behind us we had more cram down power.
But it does sound good thanks.

vodka - some of my clients and friends are the moneyed class. Guys who used to have their own jets. Dead ass serious.


Rancho Santa Fe and Fairbanks Ranch
292 active listings.

10 -20% of the area is currently listed and there are expired listings and future listings just waiting to see a few sales.

There are almost no sales. Thats like 10 years worth of inventory and more behind it.

There is so much inventory and so few sales it is impossible to accurately price the properties. IMO

One of the top Realtors in the area said to one of my friends that in this this market your property would easily be worth 3.5 (down from 7 mill) - but no one is buying.

(By the way is full of shit lines like that -that help you sell 35 -50 million worth of real estate as a Realtor.

I almost puked on myself because people want to hear that kind of bullshit. )


The newly rich no longer wish to carry 40 -50 grand a month in mortgage, tax and maintenance.

So vodka I am hearing hardship stories all day long. But I am even hearing them at my Golf Club - on the border of Rancho Sante Fe. I am not sure where I should hang out to avoid dealing with the muck.
More...
 
obviously you are talking your book - as I once talked my mine.

Take a step back see what you are claiming.

What segment of the market are you claiming is rising... where is it located?

How much off the bottom do you think we are?

Enough to cover your transaction costs if you bought the dead ass low? Sweet trade? Your broker thanks you.


I responded to your ridiculous comment that the moneied class is buying back in.

Most of the investments in real estate are coming from hopeful slum lords using hard money for a flip or first time home buyers using 97.5 percent fha financing.

The wealthy know how shity it is out there because they can't get out of the own plunging investments in high end properties and commercial real estate.

Your math conjecture - you are clueless.
 
Jeeze Lousie... for the economically deficient. Once you're done with this one...let me know. There's lot's of more to go.

http://scottgrannis.blogspot.com/


Quote from jem:

obviously you are talking your book - as I once talked my mine.

Take a step back see what you are claiming.

What segment of the market are you claiming is rising... where is it located?

How much off the bottom do you think we are?

Enough to cover your transaction costs if you bought the dead ass low? Sweet trade? Your broker thanks you.


I responded to your ridiculous comment that the moneied class is buying back in.

Most of the investments in real estate are coming from hopeful slum lords using hard money for a flip or first time home buyers using 97.5 percent fha financing.

The wealthy know how shity it is out there because they can't get out of the own plunging investments in high end properties and commercial real estate.

Your math conjecture - you are clueless.
More...
 
you might not want to click on any more - you might click on one of mine.

My real estate blogs have been quoted on Yahoo, smart money and some major newpapers.

I have been on PBS talking about the foreclosure crisis in So Cal.
 
I am just waiting for a pullback to the 61.8% Fib retrace to buy a home in cali.

Looks like its getting close!


BTW: You all act like a bunch of children on here arguing so damn much calling each other names and shit.

Pretty pathetic!
 
Sorry for getting carried away.

That might be a good plan. If my area target areas get 20% cheaper I am a buyer as well.

I am aware it might not happen. How the banks dole out the shadow inventory will probably be critical. They are playing chicken with interest rates.
 
buying frenzy in parts of california for houses under a million. dont give me the lame excuse it because of the tax credit. do you really think an 8k tax credit will motivate someone to buy a million dollar house?

http://www.youtube.com/watch?v=LnmsjIM-IXs&feature=sub

JimtheRealtor
October 17, 2009




"The market has picked up steam, in spite of many negative economic factors in play now, and in the future. How do you explain it? Lower prices are the #1 contributor, and here in Carmel Valley people who have been waiting since 2006 for some sanity are buying at roughly 20% off peak pricing. They're tired of waiting, and if the deal seems good enough, they're going for it. There were four houses that sold at peak pricing, and the haircuts were -17%, -18%, -20%, -21%"
 
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