Comments on: OC Down $42,000 in one-month. Where is the Mainstream Media? http://www.doctorhousingbubble.com/oc-down-42000-in-one-month-where-is-the-mainstream-media/ How I Learned to Love Southern California and Forget the Housing Bubble Tue, 06 Jan 2009 06:32:47 +0000 http://wordpress.org/?v=2.2.2 By: AnalysisGuy http://www.doctorhousingbubble.com/oc-down-42000-in-one-month-where-is-the-mainstream-media/#comment-298 AnalysisGuy Wed, 21 Feb 2007 23:25:00 +0000 http://www.doctorhousingbubble.com/oc-down-42000-in-one-month-where-is-the-mainstream-media/#comment-298 The local media is too scared they'll lose advertising dollars to print the truth about real estate!<br/><br/><a HREF="http://www.thebubblebuster.com" REL="nofollow">Orange County Historical Prices</a> The local media is too scared they’ll lose advertising dollars to print the truth about real estate!

Orange County Historical Prices

]]> By: Dr Housing Bubble http://www.doctorhousingbubble.com/oc-down-42000-in-one-month-where-is-the-mainstream-media/#comment-295 Dr Housing Bubble Tue, 20 Feb 2007 21:16:00 +0000 http://www.doctorhousingbubble.com/oc-down-42000-in-one-month-where-is-the-mainstream-media/#comment-295 Anon:<br/><br/>You are right, there is always a seasonal drop between January and December. And it will take time to see this trend play out. Nonetheless, the major drop does show what happens when there are no buyers in the market and sales are dropping. It is a preview of what is to come should the housing bear predictions play out. Anon:

You are right, there is always a seasonal drop between January and December. And it will take time to see this trend play out. Nonetheless, the major drop does show what happens when there are no buyers in the market and sales are dropping. It is a preview of what is to come should the housing bear predictions play out.

]]> By: Dr Housing Bubble http://www.doctorhousingbubble.com/oc-down-42000-in-one-month-where-is-the-mainstream-media/#comment-294 Dr Housing Bubble Tue, 20 Feb 2007 21:14:00 +0000 http://www.doctorhousingbubble.com/oc-down-42000-in-one-month-where-is-the-mainstream-media/#comment-294 socalappraiser:<br/><br/>What you are describing is bottom feeding. This is common in a down market. These folks are trying to lure any buyers into the market by offering whatever incentives they can muster together. If anything, the folks jumping in at this point are definitely the last fools. <br/><br/>I do recall the Moreno Valley; big homes and lot of gang activity currently. The draw at the time was big homes for half the price. Heck, take a look at San Bernadino now. These super suburbs have nothing more charming than a low-key development out in the Texas boondocks. Lot of home at the cost of many social amenities (i.e., good schools and location). socalappraiser:

What you are describing is bottom feeding. This is common in a down market. These folks are trying to lure any buyers into the market by offering whatever incentives they can muster together. If anything, the folks jumping in at this point are definitely the last fools.

I do recall the Moreno Valley; big homes and lot of gang activity currently. The draw at the time was big homes for half the price. Heck, take a look at San Bernadino now. These super suburbs have nothing more charming than a low-key development out in the Texas boondocks. Lot of home at the cost of many social amenities (i.e., good schools and location).

]]> By: Anonymous http://www.doctorhousingbubble.com/oc-down-42000-in-one-month-where-is-the-mainstream-media/#comment-293 Anonymous Tue, 20 Feb 2007 18:45:00 +0000 http://www.doctorhousingbubble.com/oc-down-42000-in-one-month-where-is-the-mainstream-media/#comment-293 you can't compare Dec and Jan this way because of seasonal changes. Trends can only be observed using a trendline over a minimum 6 month period. It's still too early to see if we are downtrending or will flatline for a while before a downturn begins. Also remember that foreclosures are increasing and REOs will be coming on the market in the later half of 2007 increasing inventory, those REOs are "must sell" properties that need aggressive price cuts. you can’t compare Dec and Jan this way because of seasonal changes. Trends can only be observed using a trendline over a minimum 6 month period. It’s still too early to see if we are downtrending or will flatline for a while before a downturn begins. Also remember that foreclosures are increasing and REOs will be coming on the market in the later half of 2007 increasing inventory, those REOs are “must sell” properties that need aggressive price cuts.

]]> By: socalappraiser http://www.doctorhousingbubble.com/oc-down-42000-in-one-month-where-is-the-mainstream-media/#comment-292 socalappraiser Tue, 20 Feb 2007 04:12:00 +0000 http://www.doctorhousingbubble.com/oc-down-42000-in-one-month-where-is-the-mainstream-media/#comment-292 Doctor,<br/><br/>Another great article and I enjoyed the Hamlet vs Quixote on as well. I was in a KB development today in Riversippi. Some decent foot traffic through the sales office. One of the comments almost made me spit up the free M & M's I was munching and pocketing. Sales agent was talking with prospective buyer who said he was an agent as well. The sales agent stated several times that if the prospective buyer wanted the house there was a non refundable $7500 deposit and they were only accepting non contingent offers. The first green M & M almost came out when he (the agent!) asked what non contingent meant? He did speak with an accent but his English was perfect. The blue one came out with his stating that he "would be doing a 100% financing and placing his current home on the market ASAP" as to not miss out on this gem. All the homes are 2400 - 3500 sq ft Mcmansions in the 550 - 675k range that will be worth mid 300's to mid 400's in 18-24 months.<br/><br/>As I cruised into the competing developments (all 3 yrs old or newer) I saw the brown lawn, non landscaped backyard, lockbox on the door, ghetto chic abandoned shopping cart (you think no HOA is a good thing?), little slice of paradise that the subject development will be in 2 years reset time. Think how Moreno Valley is now versus what is was in 89-92 and thats the future here too. Doctor,

Another great article and I enjoyed the Hamlet vs Quixote on as well. I was in a KB development today in Riversippi. Some decent foot traffic through the sales office. One of the comments almost made me spit up the free M & M’s I was munching and pocketing. Sales agent was talking with prospective buyer who said he was an agent as well. The sales agent stated several times that if the prospective buyer wanted the house there was a non refundable $7500 deposit and they were only accepting non contingent offers. The first green M & M almost came out when he (the agent!) asked what non contingent meant? He did speak with an accent but his English was perfect. The blue one came out with his stating that he “would be doing a 100% financing and placing his current home on the market ASAP” as to not miss out on this gem. All the homes are 2400 - 3500 sq ft Mcmansions in the 550 - 675k range that will be worth mid 300’s to mid 400’s in 18-24 months.

As I cruised into the competing developments (all 3 yrs old or newer) I saw the brown lawn, non landscaped backyard, lockbox on the door, ghetto chic abandoned shopping cart (you think no HOA is a good thing?), little slice of paradise that the subject development will be in 2 years reset time. Think how Moreno Valley is now versus what is was in 89-92 and thats the future here too.

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