patrick.net

evilmonkeyboy says

It seems like rents are dropping in the BA, they peaked (out of control) in the summer and now there are lots of rentals on the market. But what do I know I just rent here in the BA.

I'm moving out of the Bay Area at the end of this month. (my contract is over) My landlady is trying to get a $350 a month increase for a very small Millbrae area cottage. I'm currently paying $1,500 a month.

I wish her well, but that's a lot of money for a 400 sq ft property.

jvolstad says

My landlady is trying to get a $350 a month increase

That is a very real problem, that landlords think they are golden.

Is there apartment building going on in your area?

Mobi says

Since supply is low

I'd just like to say that every property on earth is for sale for the right price, terms, and conditions.

David Losh says

jvolstad says

My landlady is trying to get a $350 a month increase

That is a very real problem, that landlords think they are golden.

Is there apartment building going on in your area?

People looking in the bay area should look in the San Francisco (outer) sunset district. It's a bit far from the inner city (but hey, cycling is good for ya), very close to the ocean, no cars, hardly any crime, quiet, good air, the houses are a bit dated on average but you can get a $1700 sqft 2 1/2 bedroom for $2300 here. No rent increases.

David Losh says

Mobi says

Since supply is low

I'd just like to say that every property on earth is for sale for the right price, terms, and conditions.

Certainly, mines are for sale if you are willing to offer me the right prices. My guess is the supply will come back as long as prices keep increasing. You just have to guess where is the rolling-over point. I suppose you can make up a metric like Roberto to predit that.

robertoaribas says

or, you can just use my metric! It worked for selling in 2004-5, it worked for buying over the past two years...
http://robertoaribas.wordpress.com/2012/09/03/when-to-sell-a-home-especially-in-a-bubble/

But like I said in another post, Europe is a wild card here. Housing was the root cause of the 2008 financial melt down. So, for people keeping a close eye on the housing market like Roberto, it is not too hard to sell the houses before the sharp down turn. However, housing is not the only thing that can cause a financial collapse. If one of the stressed countries defaults on their government debt, potentially it would create turmoils in the banking sector and propagating here. But I suppose it is not too hard to see the writing on the wall.

SFace says

gregpfielding says

It's true. Andrew's prediction (which I shared), didn't come to pass. The market is far from fundamentals.

It's your prediction as you signed off on it.

Sorry, but saying record inventory when the opposite happened is an epic failure. Blaming the fundamental just demonstate your incompentence as it should be accounted for.

Greg: You should sell your house now before inventory floods the market

Seller: ok

Seller 3 months later: What happended to the flood of inventory you talked about? I sold too early.

Greg: Market is not following fundamentals

Seller: WTF does that mean? Not following fundamentals, seriously?

Hey, Greg got his take. From his perspective it was a slam dunk. Cha-Ching