Realtors fawning all over themselves - from the dt: Short sales remain the better choice over foreclosures for both banks and homeowners, and local real estate experts believe the number will continue to increase, unless the Mortgage Forgiveness Debt Relief Act is not...
There have already been a smattering of CV sales at or above peak pricing, and I said today that within two years the 92130 detached-home sales will be at or above 2006 prices: Sept 2006: 32 sales, $370/sf. Sept 2012: 43 sales, $326/sf. Statistically, we're only 13%...
Here's Shiller being his normal conservative self, saying that we will see a lot more underwater homeowners defaulting, and those foreclosures leading to additional inventory of unsold homes. But did say that his futures index is expecting a 3% annual price increase...
San Diego's non-adjusted Case-Shiller Index for September increased for the eighth month in a row, and was +1.4% higher than the previous month - which was the biggest M-O-M gain of the year. The latest reading of 160.09 was +4.1% higher than September, 2011, and the...
Brand-new, no HOA or Mello-Roos, and ten blocks to the beach - nice!
Those paying attention are seeing realtors continuing to commit short-sale fraud, and about the only hope for it to end is for short sales themselves to run out of steam. If the debt-tax relief doesn't get extended (unlikely but possible) and those underwater sense...
The latest Case-Shiller Index comes out tomorrow, and CR is expecting the non-adjusted national numbers to start declining, like they usually do this time of year: http://www.calculatedriskblog.com/2012/11/update-case-shiller-house-prices-will.html Tomorrow's C-S...
I worked all weekend, and there were realtors showing property everywhere I went. One house that just had their price reduced by 10% was shown ten times yesterday, and eight more times today! The intensity seems to keep building, with no break for the holidays. I...
A common ploy used to win a bidding war is the "escalation clause". One of the agents in the Arroyo Hondo bidding war included this phrase as part of his highest-and-best offer price: Buyer will pay $5,000 over the highest offer. The escalation clause is an accepted...
Here is a video tour of a few houses in the shadow inventory - ones that are bank-owned, but not listed for sale, but presumably coming to market at some point. Yes, you could consider the 412 SFRs on the NOD and NOT lists as part of the shadow, but who knows if they...
