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justme
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2011 Apr 26, 3:55am
With so many people noticing a dip in prices, look for C-S NSA numbers to reach a new post-bubble low (yes, double dip) within the next 2 months or so.
The C-S 20-city NSA index is now at 139.27, or 0.01 points above the post-bubble low from 2009.
DOUBLE DIP IS COMING !!
TMAC54
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2011 Apr 26, 1:42pm
Real Property (home) prices will return to two and one half times the annual income of the buyer !!!
That is not a government rule it is a phenomenon.
The high income techy jobs have dwindled. Not so many overpaid, anxious investors.
Home prices would have returned to normal already if the gubmint would stop interfering. TARP, QED,,,,
We also need to force the FBI to prosecute all banks for forging ownership documents. Google "DOCX"
Karen these properties were valued at high 300k’s since mid to late 1990 circa. you are right about anything past skyline blvd though. there is no demand for those properties.
Say more about the neighborhood, if you don't mind. Why is there no demand? Is it the weather? The schools? When you say past Skyline, do you mean Daly City? That other streets border the area you are talking about?
Say more about the neighborhood, if you don’t mind. Why is there no demand? Is it the weather? The schools? When you say past Skyline, do you mean Daly City? That other streets border the area you are talking about?
There is no demand for any properties west of Skyline Blvd (aka, Highway 35). Reason being is that nobody really treats Highway 35 as a highway. It's just an annoyance and it's very inaccessible via highway. The properties closer towards the ocean wear and tear faster here (in Daly City). I guess it all sums down to weather.
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Anyone notice a huge dip in prices? I know it's listing price only but there are comparables that support it. I'm in contract for a property that I thought had an awesome discount. Suddenly, it doesn't feel like that big of a discount anymore. I know everything is local. Just wanted to see if anyone else that is tracking home prices/looking around for a house noticing a steep decline in prices this past month. ~25% reduction in listing price, and about ~20% in sales price. I'm looking at foreclosures only though. Many of them come on the market requiring cash only because it's missing a water heater/furnace (looks like some foreclosure grief counselors may be teaching previous owners to do it to get even w/ the banks).
Prices are currently about 75k or so over 1998/1999 prices here. With a 4.xxx interest rate, I expect alot of people to jump in this spring to buy a home here.
#housing