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Open House Report
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Month: August 2015
Rates Headed Down?
It's happened before - rates go down in spite of Fed. Thanks daytrip:
Video on 85/15
There have been other projects in Carlsbad that faced an uproar. This time the complaints have ranged from gnatcatchers, to Indian remains, to increased traffic, to competition for mom-and-pop store owners. Whatever the gripe, those who oppose had better get to a...
Frenzy vs. Frenzy Sales Overlay
Every day we hear some pundit talking about the latest real estate bubble forming. Can we learn anything from comparing recent sales to those during the bubblicious 2004-2007 era? Sales were dropping precipitously in 2005 and 2006 after the 2003-2004 run-up. There...
Frenzy History In Color
Let's describe the frenzy era.....so far: 2012: Rev the engines, we have liftoff. 2013, first half: Full tilt boogie, prices going up as fast as they can. 2013, second half: Mortgage rates rise 0.75% to snuff out price rally. 2014: Normalizing. 2015: Rates dip under...
‘Housing Shortage’
From the WSJ: http://www.wsj.com/articles/u-s-existing-home-sales-rise-to-pre-recession-pace-1440079684 WASHINGTON—Sales of existing homes climbed in July to their prerecession pace, but low inventory and higher prices threaten to curtail those gains heading into the...
National Housing Policy
I saw these questions from Ed DeMarco on Twitter. My answers: 1. Have the M.I.D. apply towards primary residence only (not second homes), and lower from $1,000,000 to $500,000. Those buying in hopes of a bigger write off will still buy a house, and take the partial...
Fall 2015 Reality Check
We can talk, can't we? Houses that have been on the market for more than 60 days (which includes 507/1,079 = 47% of NSDCC active listings) missed the hot season. Buyers presume, "If it hasn't sold by now, something is wrong with the house, or the price." Some people...
Bubble Talk
This is what you get when a college professor looks at today's real estate market - faulty assumptions. 1) The graph he included shows the two years (2012-2013) of rapid appreciation; and 2) the building-permit numbers are skewed by the lack of land available, plus...
Talk to Angels
