invite responseComments 1 - 13 of 13 Search these comments
bubblesitter
2014 Jul 7, 2:42am
Higher prices bring out sellers but turn off buyers, the result is more inventory and a shift away from a seller’s market.
Been there before.
RedStar
2014 Jul 7, 4:50am
Seems like its still a pretty hot seller's market to me...anything even remotely reasonable in price goes pending in a week or two. (This is for greater Sac area)
Strategist
2014 Jul 7, 12:39pm
A very bad article with no data.
OCHN - Same shit different day.
Someone is a little cranky tonight...
What? I simply decided to be more honest.
_
2014 Jul 8, 2:40am
I just closed a transaction in Irvine
Condo $405,000 P.P.
Total PITI payment near 3K
Pricey in Irvine, Median Income here is 84K
Strategist
2014 Jul 8, 2:52am
I just closed a transaction in Irvine
Condo $405,000 P.P.
Total PITI payment near 3K
Pricey in Irvine, Median Income here is 84K
What was the down payment?
_
2014 Jul 8, 2:53am
What was the down payment?
95% loan conventional
FHA is losing market share which is actually a good thing.
Strategist
2014 Jul 8, 2:57am
What was the down payment?
95% loan conventional
FHA is losing market share which is actually a good thing.
Why is that? PMI?
_
2014 Jul 8, 3:00am
Why is that? PMI?
3 Factors
-PMI is better with conventional ( Fico, LTV related)
-There is no UFMIP cost with conventional so take that 1.75% out of the equation
-with FHA now you can't get rid of the MI ever with any new FHA loan.
Doesn't matter who the market favors.Buyers always have the right to overpay.
Strategist
2014 Jul 8, 1:43pm
Doesn't matter who the market favors.Buyers always have the right to overpay.
Or underpay, which is the case with all homes for sale right now.
donjumpsuit
2014 Jul 8, 9:53pm
Or underpay, which is the case with all homes for sale right now.
If you truly believe homes are underpriced,
why aren't they building more hand over fist?
and if they are underpriced, they eventually WILL build them at a solid clip, because homes priced at this level will sell quick, and make homebuilders a tidy profit.
However, the logic is not sound since this is not happening
Bubbabeefcake
2014 Jul 8, 10:44pm
A very bad article with no data.
OCHN - Same shit different day.
Someone is a little cranky tonight...
That strangely familiar personality is beginning to beam through again!
http://ochousingnews.com/blog/longer-sellers-market/
Higher prices bring out sellers but turn off buyers, the result is more inventory and a shift away from a seller’s market.
California’s housing markets are nearly always a seller’s market because we have a chronic shortage of available housing. This causes people to substitute down in quality relative to their incomes and live in smaller, less opulent abodes than their income would accommodate in other areas of the country. The cost of housing is high in California, and it probably always will be.
Disruptions in the housing market quickly tip the balance in housing from one favoring sellers to one favoring buyers. For example, in late 2011, we had the deepest buyer’s market possible in California. There were very few buyers, and the ones that were active weren’t motivated because prices were dropping. The abundance of motivated sellers had them competing to lower price to attract buyers. It was the best of times for buyers.
Source: http://ochousingnews.com/blog/longer-sellers-market/#ixzz36n4HG2SS
#housing