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Realistic Buyer
"Shore Prices still 50% Overvalued, declines ahead"
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Realistic Bu…’s Answers (22)
Realistic Buyer answered:
I read a NY Times article that cited OC as an example of a city that was over-priced by 51%. Last week they had 936 properties for sale and 3 sold. That is a huge supply vs demand. What happens when demand is low? Prices drop.
Forget about appreciation in the next 5-10 years. It isn't an investment, it is just a home.
Love OC, best place to take a family. Went there as a kid, it is just really over-priced.
Forget about appreciation in the next 5-10 years. It isn't an investment, it is just a home.
Love OC, best place to take a family. Went there as a kid, it is just really over-priced.
Realistic Buyer answered:
READ THE FINE PRINT!!!!!
That price is for a studio (Motel Room). That also looks like a starting point price, not what you will actually pay. Be very careful, when they advertise like this they are not usually reputable.
Be patient, prices are dropping and will continue to for years.
That price is for a studio (Motel Room). That also looks like a starting point price, not what you will actually pay. Be very careful, when they advertise like this they are not usually reputable.
Be patient, prices are dropping and will continue to for years.
Realistic Buyer answered:
Kimberly:
"This is a great time to purchase and or invest, due to great mortage rates and your selections of properties on the market. " April 7, 2008
Good call. lol
"This is a great time to purchase and or invest, due to great mortage rates and your selections of properties on the market. " April 7, 2008
Good call. lol
Doom and Gloom. lol
Think the people that bought in 2005 were told then was a good time to buy? Many are now bankrupt.
Pat, Be smart. Don't take advise from an Agent that makes money from people buying or from me. Read the T2 and make your own decision. Prices are not going up for 5 years, why rush? Wait until fall and see what happens. Supply and demand says all those unsold Townhouses will cause prices to drop further. That is common sense.
Think the people that bought in 2005 were told then was a good time to buy? Many are now bankrupt.
Pat, Be smart. Don't take advise from an Agent that makes money from people buying or from me. Read the T2 and make your own decision. Prices are not going up for 5 years, why rush? Wait until fall and see what happens. Supply and demand says all those unsold Townhouses will cause prices to drop further. That is common sense.
Patricia
Gregory has the best answer below. Of course that is a major concern. Where do you think buyers are going to come from? Now Buyers need 20% down and 2/3 of the buyers from 2005 don't even have 10%.
Do more research, this is a huge decision. If someone tells you this is a great time to buy, ask them what they are smoking. Prices are just starting to drop, see the link attached.
There are always a few deals out there, but if you buy you will need to stay for 10 years.
Gregory has the best answer below. Of course that is a major concern. Where do you think buyers are going to come from? Now Buyers need 20% down and 2/3 of the buyers from 2005 don't even have 10%.
Do more research, this is a huge decision. If someone tells you this is a great time to buy, ask them what they are smoking. Prices are just starting to drop, see the link attached.
There are always a few deals out there, but if you buy you will need to stay for 10 years.
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MVPs or 'Most Valuable Players' are key Trulia Voices members who have been contributing high-quality content throughout 2008 and providing valuable advice to consumers and real estate professionals.
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