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

Quote from Dr. Zhivodka:

My Financial Statements to a know-nothing tool on a anonymous message board.

:D:D:D:D:D:D:D

You really are that stupid aren't you?
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you really are having fun with this poor kid.
of course you may be polishing things a bit to make a point; all your points on real estate are accurate imo. no need to show p/l because anyone who has had similar success knows most of what you say is accurate.
i trade full time, own a 30 person manufacturing facility (our sales/size are down 60% from 2008) and own what most people would consider a lot of unleveraged real estate. i am having a surge in customers. my tennants who were on the verge of going bust are making rent payments again. all is not perfect or even a confirmed recovery; but all signs point to it. also; i have been through these boom busts before and know what i am saying.

so doc, you are funny and i would also ask you to have some pity and compassion for the poor depressed kid (or 30 something). lol.
 
At one point he deserved compassion. Now he deserves only ridicule.

Quote from domestic:

you really are having fun with this poor kid.
of course you may be polishing things a bit to make a point; all your points on real estate are accurate imo. no need to show p/l because anyone who has had similar success knows most of what you say is accurate.
i trade full time, own a 30 person manufacturing facility (our sales/size are down 60% from 2008) and own what most people would consider a lot of unleveraged real estate. i am having a surge in customers. my tennants who were on the verge of going bust are making rent payments again. all is not perfect or even a confirmed recovery; but all signs point to it. also; i have been through these boom busts before and know what i am saying.

so doc, you are funny and i would also ask you to have some pity and compassion for the poor depressed kid (or 30 something). lol.
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The real estate market in California is not hot.

My family has been trying to sell pristine land 2 minutes from the beach, in a valley with no other supply for a year now. There is a large beach community there. They have lowered the price from 1.5 million, to 700,000 and still can't sell it. If you saw this piece, 3.3 acres, you would drool.
 
Quote from RiceRocket:

The real estate market in California is not hot.

My family has been trying to sell pristine land 2 minutes from the beach, in a valley with no other supply for a year now. There is a large beach community there. They have lowered the price from 1.5 million, to 700,000 and still can't sell it. If you saw this piece, 3.3 acres, you would drool.
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Please post a link to the property. If it's as good as you say, another few hundred eyeballs looking at it could get a deal done.
 
ON THE DOLLAR


“It's clear (at least to me) that Obama is following the path Roosevelt took during the Great Depression.

In 1933, the government devalued the dollar by 41% by raising the official price of gold from $20.67 to $35 an ounce. Devaluation makes debt easier to handle. In devaluation, the dollar value of debt remains the same, but all other assets would be worth more (in nominal terms) whether it was a house, a stock, a car or an ounce of gold.

How our creditors who own trillions of dollars in their reserves will react to dollar devaluation I really don't know, but a devalued dollar is a lot better than nothing. The Bernanke Fed is trying desperately to bring back inflation, and devaluing the dollar is the surest and quickest way to inflate.”

ON THE STOCK MARKET

“We tend to forget that every move, large or small, in the stock market is entitled to a correction. I believe that the rise from the March lows is simply a correction of the huge bear market decline which preceded it.

Normally, a secondary correction will recoup one-third to two-thirds of the ground lost during the preceding bear leg. To refresh your memory, the preceding bear leg carried from 14164.58 on October 9, 2007 to 6547.05 on March 9, 2009 -- a total loss of 7617 points. A one-third correction would carry the Dow to 9083. A two-thirds recoup of the bear market losses could take the Dow back to 11619.

One should know that following the famous 1929 crash which took the Dow from 381 to 198, a correction took the Dow back to 294 in early 1930. That correction turned the entire investment community bullish. The public piled back into the market. However, the correction had nothing to do with an improving economy. In fact, the great 1929-1930 correction was followed by the greatest market wipe-out and economic depression in history.”

____________________________________________________

So I guess the bulls are coming out on RE now and soon the Stock Market huh?

Cali is bust and near its own Depression. The state is bleeding money and it can't stop. Production is down and unemployment is the highest since those days on record.

So, the Cali Home RE is strong huh?

LOL....... Let them buy the forclosuers.....Let the Mass Media tell you its time to buy a home in Cali.

Lets see where the unemployment goes in the state by 1st quarter 2010.
 
trade full time, own a 30 person manufacturing facility (our sales/size are down 60% from 2008) and own what most people would consider a lot of unleveraged real estate. i am having a surge in customers.
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Really? I deal with some of the biggest Private Run Manufacturing firms in Cali. They are clients of mine and spend a lot of money with our Joint Venture Projects.

They are in Aerospace, Plastics, and a few Turnkey guys. They were all wacked in sales between 30% to 60%. They all laid off at least 5% if not 10% of their workforce. ( You are smaller with a 30 person shop.) The say they are bottoming out but they are not seeing orders to reflect much of a move up. They have a lot of customers who have their lines of credit...but yet will not bring the orders in size. Small orders are coming through.

Also, the turnaround time is shorter and the cost have to be eat'n by the Manufacture as they can't pass the cost on.

Metals and material are rising but they can not pass this cost off either and their margins are shriking. As oil rises so will material cost, energy cost, etc.

They do not have plan's on hiring anytime soon either.

My clients are in OIL Ventures, Commerical RE, Gold, etc. They are not buying up Homes in Cali. They are not buying up much Commerical RE right now either. They are looking outside Cali.

Two of my clients just jump'd in a private equity deal I brought to the table with a hotel down in Miami. List price was 15 million, we picked it up for just under 9 mil...including 1.4 for my takedown.

So, I'm not sure what "Manufacturing" industry" you are in. Maybe the Small shop had less of an upside in the good years, so less of a downside in the bad.

But what you post is not what I'm hearing on a day to day bases for Manufactures in Cali or in the rest of the country.
 
Quote from Dr. Zhivodka:

Man you are desperarete aren't you. Can you cry some? Then maybe I might release the some Canadian properties that I own.

But only If you cry.
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So, you're full of shit, just like I thought.

Thanks, old man.


At least you have Social Security.

:cool:
 
Quote from EMRGLOBAL:

trade full time, own a 30 person manufacturing facility (our sales/size are down 60% from 2008) and own what most people would consider a lot of unleveraged real estate. i am having a surge in customers.
_________________________________________________

Really? I deal with some of the biggest Private Run Manufacturing firms in Cali. They are clients of mine and spend a lot of money with our Joint Venture Projects.

They are in Aerospace, Plastics, and a few Turnkey guys. They were all wacked in sales between 30% to 60%. They all laid off at least 5% if not 10% of their workforce. ( You are smaller with a 30 person shop.) The say they are bottoming out but they are not seeing orders to reflect much of a move up. They have a lot of customers who have their lines of credit...but yet will not bring the orders in size. Small orders are coming through.

Also, the turnaround time is shorter and the cost have to be eat'n by the Manufacture as they can't pass the cost on.

Metals and material are rising but they can not pass this cost off either and their margins are shriking. As oil rises so will material cost, energy cost, etc.

They do not have plan's on hiring anytime soon either.

My clients are in OIL Ventures, Commerical RE, Gold, etc. They are not buying up Homes in Cali. They are not buying up much Commerical RE right now either. They are looking outside Cali.

Two of my clients just jump'd in a private equity deal I brought to the table with a hotel down in Miami. List price was 15 million, we picked it up for just under 9 mil...including 1.4 for my takedown.

So, I'm not sure what "Manufacturing" industry" you are in. Maybe the Small shop had less of an upside in the good years, so less of a downside in the bad.

But what you post is not what I'm hearing on a day to day bases for Manufactures in Cali or in the rest of the country.
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like you said, what i do is very different than what you describe. one of my businesses depends on housing; so we sucked wind but we truly have new sales coming in unlike all of 2009.

the commercial and residential real estate had many problems with getting paid; but lately that has also turned around and those tennants have no exposure to the housing industry. thus my optimism. i talk to people all day and they all are optimistic on the surface.
if you are moving stuff yourself for whatever price; i am sure that is better than what was going on 6 months ago.
 
With the tax credit in place its pretty obvious why all of a sudden 300k houses are flying, since you can get a house with no down payment ... again ... the major difference is that when these babies start to pop, the loss will be on the FHA side :)

It doesnt help when fraud is picking up on these loans again, that once the loan its originated it can immediattly go to refinancing to lower the stress load on the borrower and that good old barney frankenstein actually stated it was official policy to loan to people who have a high probability of not repaying.

Why in the world doesnt housing starts pick up ( it will, obviously, after flushing alot of reo and some organic supply )? Maybe they didnt get the memo ...
 
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