It used to make sense that the higher prices went, the more people would sell. But now here we are at all-time high prices, and not many are interested. It must be due to the lack of other options - not selling looks better than selling. New Detached-Home Listings...
This article is talking about Oakland, California, but these conditions exist up and down the coast. Thornberg has been one of the more level-headed bubble analysts: http://ww2.kqed.org/news/2015/02/18/is-the-bay-area-in-a-bubble-and-will-it-burst An excerpt: “This...
It's happening everywhere you go, and it's in every conversation with agents - the market is buzzing with "lots of activity". What does that mean? Does it mean anything? Here's what it means: Buyers are giddy about getting a 3.75% jumbo rate. Agents are giddy about...
Spence has been seen everywhere promoting his new book - we might as well give him some coverage here. His smugness gets in the way, and it seems that he's really only looking to prove that he is king of the hill, not give tips that are actionable. For example, his...
A good discussion of the trend towards bigger houses on smaller lots - hat tip to daytrip! http://www.latimes.com/home/la-hm-0131-outdoor-space-20150131-story.html Excerpts: One point generally acknowledged is that many people today do not want the expense and hassle...
The politicians, talking heads, and NAR pitchmen think that tight credit is to blame for a lackluster housing recovery, but those of us on the street know the local market has been red hot with demand. The strict underwriting is more of an annoyance that anything,...
Hat tip to daytrip for sending this in: http://www.latimes.com/business/realestate/la-fi-chinese-agents-20141101-story.html Excerpts: "At first, they were a little leery," she recalled. "They'd say, 'OK. I'll buy one property as an investment.' Six months later they...
From our friend Karen at BloombergBusinessweek: http://www.businessweek.com/articles/2014-10-15/chinese-home-buying-binge-transforms-california-suburb-arcadia “Oh, hey! How ya’ doin’?” Raleigh Ornelas hollers, leaning out the window of his spotless white pickup truck....
We should see a resurgence in buyer interest now that rates are under 4%. They probably won't pay a lot more, but if sellers can live with the same price as the last comp, they should be able to sell. From MND:...
We've seen the local San Diego Case-Shiller Index rise from 144.43 in April, 2009 to the most recent reading of 201.85 in May, 2014. A whopping 40% increase in just five years. What a ride! Yet all we hear from the media is that the housing market is faltering, sales...
