For all I know, Bob's the best buyer and/or seller of homes in all the land. One might hope so at least, as his forecasting abilities have been proven bleak.
If your this confident we're at the bottom, I would expect you're out there buying aggressively.
Jeremy and Thom, Thanks for your response...I look forward to hearing what you find out at your respective meetings. Thanks again.
I'm not sure that SCMLS will have any info on it, but would be interesting to hear if they do. I would talk to Trulia directly. I'm sure they have a business/advertising arrangement of some kind.
I'm on the MLS/Business Technology committee for CAR, and currently in Monterey for the business meetings. I'll bring it up in our meeting on Friday as well and see if there is any additional input.
Century 21 Beachside
How right you are ! I just searched Tempo for all variations of pre-foreclosure status REO, Short Sale, etc.; A, B, P, etc, and only came up with 32 properties but RealtyTrac is showing 116. I also couldn't find even one property where the MLS listed price (or any prior listed price) was the same as RealtyTrac.
Very odd..... I'll ask the folks at SoCal MLS at our next BOD meeting what the general consensus is.
Broker & Realtor
Orange County, CA
Other than that, there are only two properties in either Notice of Default/In Foreclosure or Short Sales, one in S Laguna for $575,000 and one in N Laguna for $2,975,000.
Bank Owned Properties appear to have significantly dried up. It seems the wholesale market deals are few and far between. I've also noticed the prices of real estate are starting to climb as well. If the financial crisis in Cyprus continues, it is likely that our interest rates will rise. So now would be the most affordable time to buy if you were thinking about it! If you have any questions about real estate in Laguna Beach of the South Orange County area, feel free to contact me at: email@example.com.
" I don't care because i know that the OC median price is dropping, has dropped, and will continue to drop. Nothing flat about it. "
Coming back 8 days later, trying to change the subject, still finds you were wrong. Why am I not surprised?
$430,000 = Nov
$425,000 = Dec
$418,250 = Jan
$434,500 = Feb
$431,500 = Mar
$430,000 = Apr
$435,000 = May 7
MOST observers would consider those numbers a relatively flat line. I have provided profuse data to refute your postulations of doom and gloom. You're just not open to accepting it.
Keep renting, Mr. Blue. We who are landlords applaude you.
Here it is - thanks for the plug: http://southorangecounty.wordpress.com/
You keep coming into this area's threads, with your doom and gloom mantra, and I keep shooing you away with the LOCAL truth, and the LOCAL facts. I humbly suggest you go find a venue where they might be more receptive to your obsolete ideas - Zillow, perhaps.
They - your negative rantings - for the most part - have not been relevant to Orange County. I keep proving that point to you, and you keep coming back - not because you're correct - but in an ill conceived attempt to try to prove me wrong. Give it up, my friend - it isn't working for you.
Most of your other drivel, re: the mythical option arms "tidal wave" and other negative bomb old news has been answered in this and a couple of adjacent threads that the bunch of you have been flittering to and fro from like a swarm of doom & gloom butterflys, as you try to perpetuate the tired old news - from a year ago - that is being rendered completely irrelevant by the bigger swarm of investors and buyers out ignoring your postulations of doom.
For every negative article you can dredge up - citing increasingly irrelevant year's old Case-Shiller and Credit Suisse charts and graphs, I can counter that obsolute hogwash with more positive CURRENT news and data.
If you don't want to buy - keep renting. We who are landlords love you.
Do you ever look for information beyond the propaganda of CAR or NAR? You are doing a terrible dis-service to buyers by promoting this crazy idea that the worst is over and you had better hurry up and buy.
Did you read this today?
It doesn't even address what happens when the option ARM resets hit. Thousands of borrowers who have been paying the NEG AM payment are going to be walking away from their homes. The coming foreclosures are no myth.
How about from Realty Trac - 342,038 Foreclosure Filings in April - Up 1% from March, 32% from 2008
You think they make this stuff up?
The median may have stabilized but that's only because the the low end has been slaughtered and buyers are consistently buying at that level. The next wave that you and Valorie choose to ignore is coming. I can't wait to hear you explain how you were so wrong.
Just more smoke and mirrors from another doom and gloomer.
Now THAT location should provide you with some authoritative relevance to make comments about South Orange County's market, wouldn't ya think? Actually, the correct answer is a resounding NO.
Unfortunately, Credit Suisse miscalculated the efforts of the new administration to mitigate the foreclosures problem. Now, they THINK it could happen next year - kinda, maybe.
Or, ir could go the way of the Y2K Scare. We ALL know how much of a debacle that was, don't we?
As far as California Real Estate. It's obviously at the bottom or the way back up with rising sales, no foreclosures, multiple offers, rising employment, and a strong economy. Buy now before all the good deals are gone.
Cythia a belated TU for your question and comments.
You are correct that there is no comparison between Eagle Rock - which was only a minute portion of the article I linked - to Laguna Beach. Here though, is a headline from the article: "The median price in Southern California may have plummeted, but in more desirable neighborhoods, home buyers are still engaging in bidding wars."
Contrary to your incorrect sugestion that there is no interest in Laguna Beach, I would humbly submit that it IS a more "desirable neighborhood". Again, you should seriously intensify your search instead of wasting time pontificating on what happened over the past couple of years. There are some good buys out there - right now.
You are right that the dive in Laguna Beach home prices hasn't wiped out all gains. But that is not a factor in any reasonable home buying decision. People buy in part based on future value expecations not on some arbitrary comparisons to past home values. I certainly saw the collapse coming - and I sold my house - and I have the money in the bank! There was plenty of warning if you simply followed the stats and the news.
You mean the one whose declines haven't come close to matching the prior gains?
Like pretty much all the other price adjustments of the past 40-50 years?
This article could easily apply to Laguna Beach:
The truth is, there are some fabulous opportunities out there - right now. There is NO compelling reason to wait even ONE month, let alone 6. Negotiating is great right now, in these higher price ranges - make the best of it - NOW.