More select North SD County coastal properties on the foreclosure rolls – hoping to get to all 3,900 of them! The last property on this clip listed today for $2.329 million:
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
- klingerealty@gmail.com
CA DRE #01527365, CA DRE #00873197
Challenges remain for California real estate
Written by Town Crier Report
Wednesday, 02 December 2009
Economists appear to agree that the United States is in a recovery, but we are crawling through it and are not out of the woods yet.
At a realtor tour meeting of the Silicon Valley Association of Realtors last week, California Association of Realtors Vice President and Chief Economist Leslie Appleton-Young told realtors to be aware of the following:• The state of commercial real estate, now stressed in every category, is expected to worsen as commercial loans mature and more defaults occur in this sector.
• Consumer confidence will not see much improvement because the public will continue to be concerned about unemployment and future job prospects. The index fell from 53 in September to 47 in October.
• The unemployment rate will continue to drop. Appleton-Young said continued job losses are her biggest worry. She expects the jobs sector “will get worse before it starts to get better.” She doesn’t see that happening unless new jobs are created.
• The budget deficit will continue to be a problem. The most recent estimate is that the state will be $20 billion short next year. While the federal government continues to inject stimulus money into the economy, the state is doing the opposite by cutting services and furloughing employees.
• Industries like construction, manufacturing, retail and wholesale have been hit hard this year, with a similar trend expected next year. Construction is an issue for California.
“We’re not building enough to sustain demand and meet the needs of a growing population,” Appleton-Young said.
• Expect more foreclosures and price compression affecting the high-end market, as more loans reset. The high-end market should experience double-digit declines over the next 18 months.
http://www.losaltosonline.com/index.php?option=com_content&task=view&id=19680&Itemid=123
“We’re not building enough to sustain demand and meet the needs of a growing population,” Appleton-Young said.”
I want some of whatever she’s been smoking. We have many problems right now, not building enough does not happen to be one of them.
New construction has all but stopped in many parts of the state. Of course, there’s still a fair amount of empty housing. I think that, due to layoffs and the like, a lot of people are doubling up (kids moving in with their parents or not moving out in the first place, people renting out rooms in their houses, that sort of thing).
Re: The last one on this video, with the great view. There used to be signs up in that area in between the house and the ocean that indicated that, IIRC, some sort of commercial development was going to go in there. (You can see some poles lying on the ground that indicated height when they were standing.) Wonder what became of that?
Hard to tell from the video perspective what impact that would have had on the view.
Off the topic, but if Jim, Adam aka-SD Realtor or anyone else knows a good source for obtaining the property list for upcoming Trustee Sales at the EL CAJON sale I could sure use it–I use FIDELITYASAP.COM but it doens’t seem to offer any El Cajon sale info–Thanks-
For El Cajon sales, go to priority posting:
http://www.priorityposting.com/PPPAdvancedWebSearch/Pages/AdvancedSearchPage.aspx
“One of the most ripped off banks in the county, because it’s right off the freeway”
Amateurs.
What, you’re going to get $5,000 or $10,000 in petty cash and face years in the slammer? Anybody with a pulse can rip them off for six digits on a home ATM and walk away scot-free.
Muchas Gracias Kingside!
Hey Jim, honestly you know the future of Real Estae, as do I. Just like real estate ALL over California, its coming back to 2000-2001 prices, guaranteed.
It’s not only happening in the IE, it’s merely happening first in the IE.
The real estate “boom” first bubbled up in the “prime” areas and slowly trickled to the not so prime areas. Well, the bust is merely in reverse. The not so prime areas bust quick and hard, and the prime areas deflate slowly like a leftover birthday balloon.
Every asset bubble (ie: real estate bubble) is symetrical, meaning the arch or apex of the ascent is equal in descent. It’s been the same in every asset bubble since the beginning of time, and this bubble ain’t no different.
Meaning whatever the housing price was in Solana Beach (for example) in 2000, is what the price it will be in the near future in Solana Beach.
Many say that’s not possible, but not only is it possible, but it WILL happen. The market doesn’t care what the sunsets look like or how “good the schools are” (simply a disguised way of saying how White a neighborhood is) because that would be wrong to say.
History repeats itself, no matter what we say, think, or feel. The 2000 prices will simply take longer to materialize than lower priced areas of Southern California, but those good ole days are returning, just slower than in lower priced regions.
Anyone who buys now will be underwater just like a bubble buyer, but the world is full of winners and losers, so I won’t care if fool’s money jumps in the game too soon.
$695,000 for 714 Santa Paula in that neighborhood.
That’s inside the FHA zero-down subprime range.
Interesting that this video could only generate 2 on topic posts. That should be a sign that your thoughts on east Solana Beach pricing are right on target as nobody is interested in those 70s style clunkers.