While we are dismantling all previous assumptions, let's throw out the one that says having six months' worth of inventory is normal. Why? There is no more normal. The market is much more efficient now. It's an errorneous signpost making people think that 6 months is...
This didn't turn out so well - this owner paid $2,000,000 in 2004, then sold it for $2.25M in 2006 and carried the second mortgage. He has since foreclosed, and now has it listed for $1,850,000:
Mortgage rates were up to 4.80%, but have now dropped to 4.25% to 4.50% following the non-taper. Downer Diana and one of these experts think lower rates will be short-lived, and the other thinks low rates are here to stay. Nobody ever mentions the real problem with...
It has be a wild, tumultuous year - how are the forecasts turning out? Everyone was a little light on their price predictions! California Association of Realtors: From October, 2012: CAR expects the 2013 median to rise 5.7%, to $335,000. This week's quote: C.A.R....
Here is a great combo, John Fogerty with those Mumford guys on backup - if this doesn't get your foot stomping then you need to hit the Geritol: The story behind this last-minute show that just occured on Saturday:...
These thoughts are one man's opinion, but he speaks on behalf of many:
Yesterday I spoke with a seller who was wondering whether to sell now, or wait until next spring to catch the more traditional selling season. I suggested the following thoughts and strategy: The velocity of rising prices should slow down, so let's consider next...
This is a good example of a new listing in a prime area where offerings have been thin, so the sellers and agent are going for it. They have a couple of comps: http://www.redfin.com/CA/Encinitas/125-4th-St-92024/home/4113360...
Doomers have claimed that since rates went up, investors are fleeing the market. Thankfully Alejandro of the latimes.com looked into it a bit deeper to find that there are plenty of investors, but it's finding the deals that is the challenge - an excerpt: Now the...
Hat tip to DJ3 and JP for sending in this article by Nick on the slowing market - an excerpt: Buyers "want to lock something in before the rate gets away from them," said Brett Dickinson, a real-estate agent with Sotheby's International Realty in San Diego. To be...
