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tomdavie · Joined: 27 Nov 2007 Posts: 118 Location: Palm Bay, Florida

Oh alright already. I will take the plunge.

How does eveyrone feel their markets are going to do over the next 6months. How much inventory do you have? How many per capita are in some state of short sale or foreclosure.
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DebtFreeDave · Posted: Mon Dec 03, 2007 5:06 pm Post subject:

I think Scottsdale should stay flat or dip a little. Shouldn't be too bad. The higher end properties will probably get hit a little harder. They usually do though.
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ocMortgagefinder · Posted: Mon Dec 03, 2007 5:39 pm Post subject:

California, like a few other states as Nevada and Florida, is getting hit pretty hard.

Inventory is really high and getting only worse. Foreclosures are setting records here in CA. The Inland Empirre- Riverside and San Bernardino Counties along with San Diego are getting hit worst. Orange County is doing ok, but foreclosure activity is way up.

It's hard to say what is really going to happen, but I can tell you after 37 years in the business, I have seen NOthing like this in my time. I thought the early 90's were bad, but this is a Completely Different Paridym.

I don't mean to sound Doom and Gloom, I am trying to stay positive with myself And clients, but it has become Very Frustrating.

I am a Survivor- always have been- right now I am trying to Focas, Adapt with the Market, and learn New Approaches to having a Balanced Marketing Plan.

Sorry for the Babble. LOL
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Salem5 · Posted: Mon Dec 03, 2007 7:04 pm Post subject:

Cautiously optomistic is how I would put it.

The boston area has been hit pretty hard, nothing compared with CA,FL & NV. I think all those areas had a ton of speculative building going on. Boston just doesn't have the dirt. The forclosures are up but not out of control.

The high end 1M+ has started to move pretty quickly I have seen a few come on the market and go under agreement in less than a week. That was the first sector to shut down so I am hoping it's the first to heat up.

GPQ Guy · Site Admin Joined: 20 Nov 2007 Posts: 26

I think I have seen on the news and in the paper something like 1 of every 92 homes or 97 homes are in some sort of foreclosure or are expecting to be in some sort of foreclosure over the next year.

Pretty grim. There are now over 60,000 homes for resale in the Phoenix area which I think the average is 50-55 in normal market conditions. At the height of the selling/buying spree in late 2005 there were around 6,000 homes for resale on the market in Phoenix.

Some neighborhoods are holding however. I live in a very popular high demand neighborhood in Chandler, AZ: Park Promenade. Homes sold in our neighborhood are selling pretty quickly; for sale signs do not stay up long in our area at all.
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TheLoanProfessor · Joined: 05 Dec 2007 Posts: 10 Location: Bay Area CA

I heard on the radio today that in Ca 6% of homes are in default...
Now keep in mind that is the media.... it could have been spun

May have been 6% of homes with 4 windows in the backyard and 2 in the front are in foreclosure or something like that
BUT
if it is true that is CRAZY and will take a very long time to recover from...
Those that can afford to invest as the bottom comes will have a fresh supply of renters!
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tomdavie · Joined: 27 Nov 2007 Posts: 118 Location: Palm Bay, Florida

Things here in Florida are worse !!!!

We got like every 3rd house with an MLS listing. We are #1 in the country for loss of value over the year. There is going to be a huge wave of foreclosures and prices crashing back down to where they should be if there was no housing boom.

I hope the rest of you dont have to go thru that.
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Hamp Yonce · Joined: 01 Dec 2007 Posts: 31 Location: Rock Hill, SC

My market made the papers as one of the few remaining good ones. I can't feel it though. It was supposedly up 5.2% from last year. Practically paralyzed in the above 300K range. Starters are still moving. Realors are thumb twidling. So are Mortgage Brokers.
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Hamp Yonce
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Rock Hill, SC, 15 miles from Charlotte NC.
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Offices in Rock Hill, SC, Charlotte & Raleigh, NC.

Nic · Joined: 26 Nov 2007 Posts: 81 Location: Nationwide

Thats kinda the norm for realtors isn't it? Even in a busy market i can never tell what they actually do! Besides afternoon cocktails that is...
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Nic

HeadNut

Seems too often I'm complaining I bought at the top of the market or sold at the bottom. Then I look around today and see more clearly than ever that buying now would represent buying at or near enough to the bottom and seems I and many others out there are NOT buying because of... ummm.. well... ok, I give up. Waiting for the bottom, I guess. Isn't the rule for making a good ROI on Real Estate Investing to buy low and sell high. Seems to me those that are talking about a bad market must of just run out of money to buy with or don’t know the time is near or now. One thing is for sure about Real Estate, it has ALLWAYS come back around (other than end of world disaster stuff) and will again. I gota stop waiting for it to come back around to buy! As Wayne says, “most often it’s just FEAR; which stands for False Evidence Appearing Real. Upon reflection we say, “what did I wait for, or what was I so afraid of?”

my Real Estate Rhetoric
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Marketing Agents and their Listings to the Buyers utilizing the Internet for their Search

Craig Cocciola, HeadNut
PropertyNut, LLC, Phoenix, AZ
PropertyNut.com

DebtFreeDave · Posted: Thu Dec 13, 2007 10:40 pm Post subject:

Craig, nice to see you on here... For the rest of you guys, Craig has a sweet site http://propertynut.com. Check it out. He also know alot about the web. Ask him ?'s.
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Dave Mason
Marketing & Relations
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HeadNut · Posted: Fri Dec 14, 2007 9:17 am Post subject: Real Estate Sales or Lack ther of

Hey Dave, thanks for the intro (hope you are not sorry I found you guys) I just stopped by and could not help myself. You have a pretty savvy group here. I'll take a "crack" now and again at the topics where I can contribute.

Bottom line is I just enjoy Real Estate and all the different industries that support its success. It’s like working and investing in the stock market but you have something that one day, not matter what, will still be worth as much or more than you paid for it (95% of time if you can wait). This is in huge contrast to many stocks I bought some years ago that I won’t mention.

I also find it fascinating the way the media can influence the people as though they provided some higher level insight or information and data on the future. My view from over here in the "NutHouse", Real Estate homes sales or lack of sales would have MUCH lower peaks and much shallower valleys if not for the "sheep dipped" trust that the majority of readers and viewers place in reporting of mostly opinions by the News Media.

Here's a quick Real Estate News statistic that did not make the media; hummm....

Real Estate Sales closing from MLS November 2006, December 2006 and January 2007 were off by 6.5% from sales in February 2007, March 2007 and April 2007 -

So those Agents that tended the business of marketing real estate listings, calling and working the buyer and leads only saw their sales fall by around 6% during this so called SLOW TIME; they managed the Thanksgiving Dinner, the Christmas gifts or social parties for whatever Holiday they celebrate, the New Years festivities and got their taxes together for the accountant. They are the Nut Crackers of the Real Estate Industry.

Real Estate Rhetoric
http://PropertyNut.com
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Marketing Agents and their Listings to the Buyers utilizing the Internet for their Search

Craig Cocciola, HeadNut
PropertyNut, LLC, Phoenix, AZ
PropertyNut.com

Amerisave · Joined: 26 Nov 2007 Posts: 13 Location: Nationwide

It is time to buy.. there are homes in Chandler & Gilbert in AZ that you can buy for 150K from short sales! We have low rates and there is no excuses for not buying!
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Romulo Roma
Amerisave Mortgage
201.673.3834

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