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Subject: No Help in Sight, More Homeowners Walk Away

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Brian
Posts:4659

02/05/2010 10:01 AM	Alert
I'm not stealing broadband. If the wifi it comes into my unit, it's mine. The spectrum is unlicensed. The law is on my side. Now, hacking and breaking password protection is a different issue altogether. I don't need cable because I get great digital reception. An attorney likes to bill you so that he can make money for himself. Educate yourself and do what is best for you so you can keep the most money for yourself, and not give it to banks or attorneys. Remember, money that you pay out to others is no longer yours.

BullBull
Posts:196

02/05/2010 12:03 PM	Alert
My posting was a response to jpinbp posting the yearly numbers for all of California. Great if you’re writing a history book. Not so great if you want to see where things are heading. San Diego is now below 50% of the Trustee Deed and NOD peaks. In October San Diego was at 41% and 32%. Most people should be able to see a trend in these numbers…. unless you have your head in the sand. Posted By BullBull on 11/05/2009 1:13 PM .... and waited, and waited, and waited. When IS that tsunami going to hit? San Diego Trustee Deeds up slightly in October, but down 41% from the peak. NODs flat, but down 32% from the peak... Posted By BullBull on 12/02/2009 12:45 PM Board all waxed and nowhere to go. I've been waiting for a month now. Where IS that tsunami? San Diego November trustee deeds: 1128, down 17% from October. San Diego November NODs: 2182, down 24% from October. Posted By BullBull on 02/03/2010 12:56 PM Since this is SDlookup, why not look at NODs and Trustee Deeds in San Diego?: NODs, January 2010: 1868, down 82 from December 2009, down 56% from the peak. Trustee Deeds, January 2010: 1140, down 293 from December 2009, down 50% from the peak. http://www.sddt.com/finance/economicindicators.cfm So let’s enlighten the guys in the shallow end of the gene pool: The fed has taken $1 Trillion mortgages (toxic, plain vanilla, MBS’s) on its book in the last year. Will they print another $1 Trillion if they have to? Yes. In addition, $1.1 Trillion in mortgage balance got refinanced in Q1-Q3 2009 alone. Is the foreclosure tsunami ever going to hit? No.

sd_living
Posts:55

02/05/2010 12:40 PM	Alert
I am in the market (Carmel Valley, UTC, Scripps Ranch) looking for homes around 450K and have been placing offers at quite competitive prices, slightly higher(1-2%) than the comps from last 6 months . And i have not been lucky so far. There are at least 5-10 offers on most of the homes these days and i saw lot of cash offers on 400K homes in the UTC area. Anyone else in the market to buy and seeing similar things in other areas of San Diego? Looking at the rents from last 5 years the rents are on the low side these days. Still at lot of the places i am calculating that (monthly mortgage interest + HOA + Property Tax) - (Tax deduction saving) is same or only few dollars more than the rents. Anyways whatever the statistics says most of the homes are getting quite a good number of offers and this does not look to be a buyers market anymore unless you are patiently waiting for a short sale deal.

Scarlett
Posts:1

02/08/2010 3:31 PM	Alert
Posted By sd_living on 02/05/2010 12:40 PM I am in the market (Carmel Valley, UTC, Scripps Ranch) looking for homes around 450K and have been placing offers at quite competitive prices, slightly higher(1-2%) than the comps from last 6 months . And i have not been lucky so far. There are at least 5-10 offers on most of the homes these days and i saw lot of cash offers on 400K homes in the UTC area. Anyone else in the market to buy and seeing similar things in other areas of San Diego? Looking at the rents from last 5 years the rents are on the low side these days. Still at lot of the places i am calculating that (monthly mortgage interest + HOA + Property Tax) - (Tax deduction saving) is same or only few dollars more than the rents. Anyways whatever the statistics says most of the homes are getting quite a good number of offers and this does not look to be a buyers market anymore unless you are patiently waiting for a short sale deal. Actually I see the same thing - I am looking also for houses in the mid-upper 400K, in CV and PQ and RB. Some cash offers, definitely more than a handful of offers for the best places. In your calculation, do you assume 20% down? Not a buyers market unless you get very lucky with a short sale, like you said. I am going to stop and wait a couple years....

sd_living
Posts:55

02/08/2010 5:04 PM	Alert
Posted By Scarlett on 02/08/2010 3:31 PM Actually I see the same thing - I am looking also for houses in the mid-upper 400K, in CV and PQ and RB. Some cash offers, definitely more than a handful of offers for the best places. In your calculation, do you assume 20% down? Not a buyers market unless you get very lucky with a short sale, like you said. I am going to stop and wait a couple years.... Yes my calculations are with 20% down. The current rents in UTC/La Jolla, CV for 1500Sq Ft homes is between 2100-2400. The price of these homes is somewhere around 450K Some people can argue that one should also take into account what one can get in terms of returns on this 20%. Anyways i have only seen losses in stock market and Savings account interest rates are just negligible. Real estate looks to be the only way to invest and at the same time enjoy a better living. I was hoping that last year's buying rush in Oct-Nov would have taken away some future buyers. But my actual market experience shows that still lot of buyers are in the market. Good luck with your home hunting.

dchestney
Posts:1266

02/09/2010 9:02 AM	Alert
We report; you decide: http://www.nctimes.com/business/article_89a5f56a-1163-5495-b635-4c20bb8e4d08.html

cbr600f4i
Posts:160

02/11/2010 1:45 PM	Alert
For those of your who were naive enough to listen to Bullx2 and his alter ego Wilson and bought in 2009, you've sadly had your butt handed to you. Just thing, at the end of 2010 you'll be down another 8-12%. Too bad you didn't buy Berkshire instead!

DT.SD
Posts:320

02/11/2010 2:17 PM	Alert
Posted By cbr600f4i on 02/11/2010 1:45 PM For those of your who were naive enough to listen to Bullx2 and his alter ego Wilson and bought in 2009, you've sadly had your butt handed to you. Just thing, at the end of 2010 you'll be down another 8-12%. Too bad you didn't buy Berkshire instead! Are you saying that 2009 buyers are currently down 8-12%? Boy, that’s an interesting reality you live in…

cbr600f4i
Posts:160

02/11/2010 2:59 PM	Alert
Home prices fell 12% in 2009 http://money.cnn.com/2010/02/11/real_estate/latest_home_prices/index.htm?section=money_latest Yea, reality it is.

dchestney
Posts:1266

02/11/2010 3:14 PM	Alert
Nice try--If you click on the link in that article to see what happened in specific markets, here's what you find: San Diego-Carlsbad-San Marcos CA $379,200 7.3% That's meadian prices (FWIW) UP 7.3% year-over-year,

DT.SD
Posts:320

02/11/2010 4:11 PM	Alert
Posted By cbr600f4i on 02/11/2010 2:59 PM Home prices fell 12% in 2009 http://money.cnn.com/2010/02/11/real_estate/latest_home_prices/index.htm?section=money_latest Yea, reality it is. LOL That is just like the maroons in 2006 that used articles showing national prices still on the rise in the US while the local market had already started to tank here in SD. Not to mention the fact that they are talking plain vanilla median price, which means close to nothing about price movements of same home sales... You sure are dedicated to this doom and gloom thing, it is hard work to be a bear these days : )

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