Guys, I just did a little spot checking and it every radius of 3 miles in Southern California a house is sold every other day .

Asked by Research, Chino Hills, CA Thu May 1, 2014

In a block defined 1,5 by 1,5 miles there is in a month 15 houses sold every months.
Something like 2 per street each month.
10% are legitimate- they moved or could not resist the offered price- by a corporation. All others are flippers. The prices are now between 10-25% higher than 2004.
How often do you see this? I mean, if this was a normal sale market.

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Tina Lam, Agent, San Jose, CA
Thu May 1, 2014
Prices are 10-25% higher than in 2004? That's a pretty subdued seller's market. I usually see 20-40% higher in NorCal.
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We already had a bubble in 2004. Are you saying that your prices are 40% over the bubble price? With falling wages and unemployment? Our unemployment, although hidden, is about 12%. Average wage per family is 43,000 before tax.
Flag Sat May 3, 2014
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