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elliemae
2011 Dec 11, 6:14am
I knew it! For example, what people considered to be a housing crash, or static sales, or an economic downturn, or a correction... was merely the city POSITIONING ITSELF FOR A COMEBACK!
http://money.cnn.com/2011/11/09/real_estate/vegas_housing_market/index.htm
http://lasvegas.cbslocal.com/2011/12/08/vegas-housing-sales-up-prices-down/
Some saw it coming:
http://www.lvrj.com/business/40304832.html
I'm so glad the housing crash is over, just reading the multiple search results (which vary from doom & gloom to now being the time to buy) is exhausting.
David9
2011 Dec 11, 6:53am
Well, that's nice. Good for them. On the lower end of the housing market scale, I took a walk this afternoon to see a 2 bedroom 2 Bath condo in the West San Fernando Valley section of Los Angeles. There were 29 lock boxes on the lock tree. Twenty Nine, I counted them. There are only 4 properties listed for the address on the market. I didn't immediately find the number of units at the address but I estimate to be between 100 and 200. I don't need to do an in depth analysis. Something is wrong. The potential buyer has dove back into his cave.
bubblesitter
2011 Dec 11, 11:33am
Well, that's nice. Good for them. On the lower end of the housing market scale, I took a walk this afternoon to see a 2 bedroom 2 Bath condo in the West San Fernando Valley section of Los Angeles. There were 29 lock boxes on the lock tree. Twenty Nine, I counted them. There are only 4 properties listed for the address on the market. I didn't immediately find the number of units at the address but I estimate to be between 100 and 200. I don't need to do an in depth analysis. Something is wrong. The potential buyer has dove back into his cave.
Well most of them are not going to be sold for a while and are not going to be reflected in CS graph. Hence some people here thinks worst is behind us and golden days are ahead.
HousingWatcher
2011 Dec 11, 12:17pm
With the growing income inequality in America, high end properties will continue to remain immune from the housing bust. Low end properties should do decently too as that is all many people will be able to afford. Middle priced properties will unfortunately not do that well.
The housing crash is officially over for the top 1%! Prices are up, sales are up, and foreclosures are rare. "Estate like condos.." now there is a term I never heard of. I wonder which Realtor invented it.
Demand for ‘Estate’-Like Condos
REAL ESTATE optimists have been picking up blips on the radar in Bergen County lately, most recently this one: 24 of 68 “attached manor†condominiums with prices starting at $1.25 million sold in a single weekend — before they went up, and before a sales office had time to open.
The Enclave at Montvale is smaller — 34 “villa estates†— but 18 months after opening, it has only three units left, said Woodmont’s president, Lewis Zlotnick.
High-end sales have been on the upswing in Bergen County in 2011.
Seven percent of total sales in Bergen involved houses sold for $1 million to $1.25 million, according to Jeffrey Otteau, the president of the Otteau Valuation Group of New Brunswick, which analyzes sales data for the industry. That is the highest percentage of sales in that category of any county, Mr. Otteau said; Morris and Hudson counties each had only 3.3 percent of total sales in that niche.
In the few towns where sales price averages about $1 million — Saddle River, for instance — values have increased by 2.5 percent this year while prices continued to decline statewide, the analyst said.
Affluent towns also have few foreclosures in process, and prices won’t be affected when the state’s big backlog of foreclosed properties eventually hits the market, Mr. Otteau noted.
http://www.nytimes.com/2011/12/11/realestate/new-jersey-in-the-region-demand-for-estate-condominiums.html?_r=2&ref=realestate
#housing