You'd think there might be some resistance on this one, but it only took 24 days to go pending. There are 20 houses for sale under $1,000,000 in the 92130, and 19 have closed in the last 30 days:
CV Drying Up Under $1M
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Month: October 2013
The 800-lbs Gorilla
More on Zillow taking over the real estate world - an excerpt: http://www.washingtonpost.com/blogs/wonkblog/wp/2013/10/29/heres-zillows-strategy-for-dominating-online-real-estate/ Zillow is simultaneously taking on traditional real estate agents, media companies and...
Lou Reed
We lost a great one this week - here's Lou Reed with a view from the street:
Snort
In areas where the inventory is close to zero, add the basic flipper package and stand by for offers:
Debt-Relief Tax Exemption Expiring Again
Hat tip to daytrip for sending in this article from the latimes.com alerting us to the expiring The Mortgage Debt Relief Act of 2007, wrapped around the free cheese in the recent JP Morgan settlement:...
Same As 25 to 50 Years Ago
Quotes off yesterday's Case-Shiller Index report: http://www.cnbc.com/id/101152271 "I define a bubble as a time when people have extravagant expectations, and the expectations are driving home price increases," said Robert Shiller, Case-Shiller index co-founder and...
Rates Looking For Bad News
Rates have come down nicely, and may break into the 3% range again, which could ignite the market. It may already be happening - I ran into four different bidding wars in the last week! http://www.mortgagenewsdaily.com/consumer_rates/329722.aspx Mortgage rates...
SD Case-Shiller Index August ’13
The pace of the non-seasonally-adjusted SD index is still less-torrid: Month M-O-M Y-O-Y March ’13 +2.0% +12.1% April ’13 +2.8% +14.7% May ’13 +3.2% +17.3% June ’13 +2.8% +19.3% July ’13 +2.0% +20.4% August ’13 +1.8% +21.5% Slow deceleration is...
Land Is The Basis
From businessweek.com: For anyone wanting to know if the U.S. housing market is turning into a new, speculative bubble, a good and overlooked way to tell is the price of land. A real estate professor at the University of Wisconsin has done just that—and concluded that...
Hot September
This year we have had a full-fledged frenzy, with both sales and pricing on the rise. Is it still a frenzy if prices increase, but sales drop off? Because the sales counts look like they will be feeling the usual seasonal decline this year, which didn't happen last...
