Comments on: California Housing Prices Then and Now: Foreclosures, Fast Money, and Deflating Economic Bubbles. Comparing 15 Counties with Household Income to Home Price Ratios from 1999 to 2009. Many Counties Still Over Priced. http://www.doctorhousingbubble.com/california-housing-prices-then-and-now-foreclosures-fast-money-and-deflating-economic-bubbles-comparing-15-counties-with-household-income-to-home-price-ratios-from-1999-to-2009-many-counties-s/ How I Learned to Love Southern California and Forget the Housing Bubble Sat, 31 Jul 2010 22:55:07 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Ken http://www.doctorhousingbubble.com/california-housing-prices-then-and-now-foreclosures-fast-money-and-deflating-economic-bubbles-comparing-15-counties-with-household-income-to-home-price-ratios-from-1999-to-2009-many-counties-s/comment-page-1/#comment-44292 Ken Tue, 19 Jan 2010 20:16:39 +0000 http://www.doctorhousingbubble.com/?p=2794#comment-44292 Iceman, I've noticed this in the IE also...It looks to me that after the short sale fails, the home goes into pre-foreclosure where it goes up for auction. The price set at the auction seems to reflect the default amount on the loan, so if the home was purchased in '07 the auction price looks way out of line. Typically the house will not sell at auction, so the home becomes an REO and a real estate agent is assigned to sell the house, and this is when a more realistic price is set on the house. Iceman,
I’ve noticed this in the IE also…It looks to me that after the short sale fails, the home goes into pre-foreclosure where it goes up for auction. The price set at the auction seems to reflect the default amount on the loan, so if the home was purchased in ‘07 the auction price looks way out of line. Typically the house will not sell at auction, so the home becomes an REO and a real estate agent is assigned to sell the house, and this is when a more realistic price is set on the house.

]]> By: RB http://www.doctorhousingbubble.com/california-housing-prices-then-and-now-foreclosures-fast-money-and-deflating-economic-bubbles-comparing-15-counties-with-household-income-to-home-price-ratios-from-1999-to-2009-many-counties-s/comment-page-1/#comment-43805 RB Mon, 04 Jan 2010 17:40:11 +0000 http://www.doctorhousingbubble.com/?p=2794#comment-43805 "It will be amazing to see what unfolds next year when the other shoe drops" You talk as if you are a mind reader and KNOW this is going to happen. If that's true, you must be VERY VERY rich! No one knows, and the vast majority of predictions (like yours) don't come true. Any time someone talks like they KNOW the future, run! “It will be amazing to see what unfolds next year when the other shoe drops”

You talk as if you are a mind reader and KNOW this is going to happen. If that’s true, you must be VERY VERY rich! No one knows, and the vast majority of predictions (like yours) don’t come true. Any time someone talks like they KNOW the future, run!

]]> By: Genuinely Concerned http://www.doctorhousingbubble.com/california-housing-prices-then-and-now-foreclosures-fast-money-and-deflating-economic-bubbles-comparing-15-counties-with-household-income-to-home-price-ratios-from-1999-to-2009-many-counties-s/comment-page-1/#comment-43484 Genuinely Concerned Mon, 21 Dec 2009 20:49:42 +0000 http://www.doctorhousingbubble.com/?p=2794#comment-43484 It's amazing that through such a crisis, your first instinct is to defend real estate agents. While I understand verbal abuse is a reality for sales people in general, this situation is about the over-indulgence of all parties involved including the buyers that ignored the fact that good deals and bad deals existed long before real estate people did. Respectfully, I hope you are not a real estate agent and if you are, I hope you can change the need to defend yourself and instead thrive on streamlining your brutal honestly with something productive. Like teaming up with an honest banker and saying no to ones that are not. While I realize there is no legal obligation, I believe it is our lack of inter-personal moral obligations that got us in this mess. We all take the blame here and hope this can be a reason for you to improve. Sincerely. -MD It’s amazing that through such a crisis, your first instinct is to defend real estate agents. While I understand verbal abuse is a reality for sales people in general, this situation is about the over-indulgence of all parties involved including the buyers that ignored the fact that good deals and bad deals existed long before real estate people did. Respectfully, I hope you are not a real estate agent and if you are, I hope you can change the need to defend yourself and instead thrive on streamlining your brutal honestly with something productive. Like teaming up with an honest banker and saying no to ones that are not. While I realize there is no legal obligation, I believe it is our lack of inter-personal moral obligations that got us in this mess. We all take the blame here and hope this can be a reason for you to improve. Sincerely. -MD

]]> By: dogman http://www.doctorhousingbubble.com/california-housing-prices-then-and-now-foreclosures-fast-money-and-deflating-economic-bubbles-comparing-15-counties-with-household-income-to-home-price-ratios-from-1999-to-2009-many-counties-s/comment-page-1/#comment-43436 dogman Mon, 21 Dec 2009 14:30:23 +0000 http://www.doctorhousingbubble.com/?p=2794#comment-43436 Robert Cramer - your comment is accurate and entirely misses the point. Yes, we are "adults," and need to be responsible for ourselves. But, the main point - which you missed - is that Realtors are LICENSED to PROTECT THE PUBLIC. Implicit in your comment is that we are on our own. Realtards are supposed to be licensed professionals who can give you ADVICE about the merits of a purchase. So, yes, they SHOULD be awake at night if they put you in an overpriced home because they told you to buy, and "not to worry," because real estate prices always goes up, etc. Or, that you could simply "refi" if the loan is unaffordable. They are licensed for our benefit, not theirs. You are quite correct above when you said they are paid to "move product." Robert Cramer – your comment is accurate and entirely misses the point. Yes, we are “adults,” and need to be responsible for ourselves. But, the main point – which you missed – is that Realtors are LICENSED to PROTECT THE PUBLIC. Implicit in your comment is that we are on our own. Realtards are supposed to be licensed professionals who can give you ADVICE about the merits of a purchase. So, yes, they SHOULD be awake at night if they put you in an overpriced home because they told you to buy, and “not to worry,” because real estate prices always goes up, etc. Or, that you could simply “refi” if the loan is unaffordable. They are licensed for our benefit, not theirs. You are quite correct above when you said they are paid to “move product.”

]]> By: Gary http://www.doctorhousingbubble.com/california-housing-prices-then-and-now-foreclosures-fast-money-and-deflating-economic-bubbles-comparing-15-counties-with-household-income-to-home-price-ratios-from-1999-to-2009-many-counties-s/comment-page-1/#comment-43421 Gary Mon, 21 Dec 2009 04:20:16 +0000 http://www.doctorhousingbubble.com/?p=2794#comment-43421 Prices will contine to come down in the crap areas. Here in Newport, inventory is falling. Prices will not come down. I agree with the long post. TOO MUCH GOV MANIPULATION. All the old metrics do not apply. Prices will contine to come down in the crap areas. Here in Newport, inventory is falling. Prices will not come down. I agree with the long post. TOO MUCH GOV MANIPULATION. All the old metrics do not apply.

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