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Redfin says prices up 5% YoY

By PockyClipsNow   2012 Oct 15, 7:42am   2 links   9,682 views   28 comments   watch (2)   quote      

http://www.prnewswire.com/news-releases/home-prices-dip-slightly-from-august-to-september-still-up-5-from-2011-in-redfin-real-time-home-price-tracker-173688281.html

I have memories of watching prices go up for yearssss at at time. 1997 to 2006 locally.

Not sure how long prices will go up but they are going up for next couple of years, bottom is in.

Redfin today released its Real-Time Home Price Tracker for September 2012, showing an annual price gain of 5 percent across 19 major U.S. markets. From August to September, prices declined just 0.8% percent, which is a smaller decline than is typical at this time of year.

Comments 1-28 of 28     Last »

1   JG1     2012 Oct 17, 7:31am  ↑ like   ↓ dislike   quote    

Where's War to post, 'Why buy when prices are falling?'

2   PockyClipsNow   60/60 = 100% civil   2012 Oct 17, 7:32am  ↑ like   ↓ dislike   quote    

i know huh.
That was a valid comment from 2006 to 2009.

Now its just insane truth denying. I cant even believe Patricks allows him here.

3   37108605     2012 Oct 17, 7:59am  ↑ like (2)   ↓ dislike   quote    

For anyone buying anything this round? If they cannot smell what is going on? I wish them a ton of luck, they'll need it.

4   PockyClipsNow   60/60 = 100% civil   2012 Oct 17, 8:09am  ↑ like   ↓ dislike   quote    

RE market was, is and will be heavily manipulated by government. Now its more so. This wont change in your lifetime.

My dad was in the korean war in like '52.

I'm pretty sure without heavy USG federal support the commies would have ovverun them. WE ARE STILL THERE. And house prices are gonna be supported forever also as long as there is a federal government. read some history people! government only gets bigger, never smaller (until total collapse - no idea how to time that)

5   37108605     2012 Oct 17, 8:14am  ↑ like (2)   ↓ dislike   quote    

PockyClipsNow says

RE market was, is and will be heavily manipulated by government. Now its more so. This wont change in your lifetime.

My dad was in the korean war in like '52.

I'm pretty sure without heavy USG federal support the commies would have ovverun them. WE ARE STILL THERE. And house prices are gonna be supported forever also as long as there is a federal government. read some history people! government only gets bigger, never smaller (until total collapse - no idea how to time that)

You better read about the 2nd Law of Thermodynamics and how it applies to the economy and real estate.

6   PockyClipsNow   60/60 = 100% civil   2012 Oct 17, 8:19am  ↑ like   ↓ dislike   quote    

War, in case you havent noticed- a huge% of the bubble buyers are now 'sitting pretty' regardless of paying way more than todays market price.

princ forgiveness, loan mods, people getting huge checks from the bank at a short sale, squatting free for years. This is happening by the millions.

So I would say buying now at 70% discount is pretty safe.

7   JG1     2012 Oct 17, 8:39am  ↑ like   ↓ dislike   quote    

War - why not short housing / builder stocks? Great opportunity to do so - they just shot up in the recent past.

8   CashWillCrash     2012 Oct 17, 8:53am  ↑ like   ↓ dislike   quote    

Let's tell everyone to buy again now. Let's blow up the bubble again. Let's cash out $$DOLLARS$$ by hundreds of thousands again. Then default and run with the money again and start all over. Bernanke will buy a few more printing presses and all will be fine. The Chinese are sitting on mountains of cash. I love this country!

9   JG1     2012 Oct 17, 8:57am  ↑ like   ↓ dislike   quote    

http://money.usnews.com/money/personal-finance/real-estate/articles/2010/08/19/9-reasons-to-choose-a-new-home-over-a-resale

“New homes usually sell higher per square foot then resale homes,” says Jack McCabe of McCabe Research & Consulting in Deerfield Beach, Fla.

http://www.heraldtribune.com/article/20120702/COLUMNIST/307029985

Most residential builders haven't been able to compete with foreclosure and short-sale prices. Distressed sales of existing homes have yielded prices substantially below replace cost. Most builders, the ones still in business, have spent a lot of time fishing, golfing and hunting, while waiting for the market to rebound.

Buyers have been able to acquire re-sale homes at 30 percent to 50 percent lower prices than a new home with comparable square footage and amenities.

10   PockyClipsNow   60/60 = 100% civil   2012 Oct 17, 8:58am  ↑ like   ↓ dislike   quote    

CashWillCrash says

Let's tell everyone to buy again now. Let's blow up the bubble again. Let's cash out $$DOLLARS$$ by hundreds of thousands again. Then default and run with the money again and start all over. Bernanke will buy a few more printing presses and all will be fine. The Chinese are sitting on mountains of cash. I love this country!

finally someone gets it!

chance of getting rich renting=0%
chance of getting rich buying homes/flipping/speculating=>0%

make your choice, I made mine.

also chicks hate renters. they dont care or want to understand 'why renting is better' they want a dude with $$$ and at least one home. you will get hotter chicks owning a home. renters will have to date fat girls! lol

11   bubblesitter     2012 Oct 17, 9:00am  ↑ like   ↓ dislike   quote    

Nah. Invest in stocks,not in RE - especially high end one.

12   CashWillCrash     2012 Oct 17, 9:06am  ↑ like (1)   ↓ dislike   quote    

Imagine this: There are two gambling machines in Vegas.

The first one charges 1 Dollar and says chance of winning = ZERO

The second one charges 2 Dollars and says you win anywhere between ZERO and a MILLION Dollars.

You would not get your turn on the first one because WAR would be trying his luck on it all day and night.

And he will be happy because he pays only half the price!!!!

13   JG1     2012 Oct 17, 9:08am  ↑ like   ↓ dislike   quote    

War says

JG1 says

shitty links is all I can do

Do build for a living?

No, just like facts and reality. I am fine with opinions, conjecture, and speculation, too, when those are identified as such and not conflated with fact.

14   JG1     2012 Oct 17, 9:15am  ↑ like (1)   ↓ dislike   quote    

War says

The post some facts.

Are you in the construction biz?

Nope, I'm not in any business that could be considered housing, construction, real estate agent, etc. So I have no ax to grind. News articles and studies can be criticized and taken with a grain of salt, but to deny any news of housing stabilization or recovery just seems silly. If your theory is that prices still have a long way to go down from here, then perhaps you can explain why builder starts, prices, rents, etc., are all going against your long term predictions, at least in the short term, presently. But repeating that prices are falling when they are in fact rising is strange indeed.

15   CashWillCrash     2012 Oct 17, 9:18am  ↑ like (1)   ↓ dislike   quote    

16   PockyClipsNow   60/60 = 100% civil   2012 Oct 17, 9:31am  ↑ like   ↓ dislike   quote    

clearly War is bipolar or something along those lines. I think he is the guy who posted with hitler as his icon the same BS.

Its pretty well known that images of hitler=you are crazy.

17   Philistine   13/13 = 100% civil   2012 Oct 17, 10:06am  ↑ like   ↓ dislike   quote    

PockyClipsNow says

clearly War is bipolar or something along those lines

I was thinking more along the lines of totally catshitsnacks psychotic.

18   PockyClipsNow   60/60 = 100% civil   2012 Oct 17, 10:07am  ↑ like   ↓ dislike   quote    

I think its time for a reverse '5 stages of housing bubble chart' where the first stage is denial by renters that prices actually can rise and are rising. So were at stage 1 of the next up cycle = denial. (by war anyway!)

19   Home Fart     2012 Oct 17, 1:20pm  ↑ like   ↓ dislike   quote    

What do these black lines on the graph mean? To show that prices have come down from the bubble and now is an excellent time to buy! It hasn't been this cheap in years! Sometimes you have to look at these graphs to see things clearly...

20   Home Fart     2012 Oct 17, 1:24pm  ↑ like   ↓ dislike   quote    

Just for all of 2012 price have been climbing up sharply according to the graph shown above. I guess I should have bought earlier this year but who gets the perfect timing on this kinda stuff anyways..

21   Stepheng.bishop     2012 Oct 17, 2:05pm  ↑ like   ↓ dislike   quote    

Prices are being manipulated. Count on it. Keep renting, be safe.

22   37108605     2012 Oct 17, 9:44pm  ↑ like   ↓ dislike   quote    

CashWillCrash says

Let's tell everyone to buy again now. Let's blow up the bubble again. Let's cash out $$DOLLARS$$ by hundreds of thousands again. Then default and run with the money again and start all over. Bernanke will buy a few more printing presses and all will be fine. The Chinese are sitting on mountains of cash. I love this country!

That's what they have done and still are now trying to do again. IMHO me you just outline the overall sickness that is the disaster that is continually imploding the Nation's economy both nationally and personally.

23   37108605     2012 Oct 17, 9:45pm  ↑ like   ↓ dislike   quote    

Home Fart says

Just for all of 2012 price have been climbing up sharply according to the graph shown above. I guess I should have bought earlier this year but who gets the perfect timing on this kinda stuff anyways..

Do you think anyone takes that as a personal honest post? OH JUST STOP MY LORD! I am about to barf on the laptop.

24   bubblesitter     2012 Oct 18, 12:43am  ↑ like   ↓ dislike   quote    

Pocky,

You need to start scooping all these golden properties with 0% down FHA loans. They are the gold of the future. Don't miss out on this once in a lifetime opportunity.

25   PockyClipsNow   60/60 = 100% civil   2012 Oct 18, 2:55am  ↑ like   ↓ dislike   quote    

bubblesitter says

Pocky,

You need to start scooping all these golden properties with 0% down FHA loans. They are the gold of the future. Don't miss out on this once in a lifetime opportunity.

Well I wouldnt go that far but clearly if buying cost 50% of renting you should seriously consider why you are still renting.

26   bubblesitter     2012 Oct 18, 7:00am  ↑ like (1)   ↓ dislike   quote    

PockyClipsNow says

buying cost 50% of renting

Clearly,it is NOT that is why I am still renting.

27   PockyClipsNow   60/60 = 100% civil   2012 Oct 18, 7:04am  ↑ like   ↓ dislike   quote    

why dont you guys post up examples of what/where you are renting?

i get it that if you pay your mom $300 a month to live in the basement that is cheaper than buying. Youcant even 'buy a basement' to compare that to.

but renting a 4 bedroom average house - thats pricey if its close to job centers.

28   bubblesitter     2012 Oct 18, 7:15am  ↑ like   ↓ dislike   quote    

You bet on 5% up again next year and then 5% the following? That's called a healthy recovery. If the prices tank from here,which is clearly a possibility,this recovery is once again a phantom recovery - Yeah,been there before,nothing but a suckers,investors rally. When investors rule,the market is running into a brazen ox!

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