jakethesnake

Everyday I hear different stories about real estate values in the Country. Some say that the bubble is bursting and others are saying that not just yet. I like to hear from others. How about So. Cal market?

ericdbs

i heard that sand diego county is the one to watch...if it goes down so does others.... thats just what i heard...

my530i

Greenspan increased the interest rate and he wanted to resign. What's the sign? Thing will fall apart and he won't get blamed.

my530i

It's hard to say it's going to burst. Housing is one of three things that humans need: Shelter, Food and Cloth. It's different from stock. What happen if a company bankrupted? Stocks worth zero. What if house market price is too slow, people still need to live in the house and just take it off the market. Also, house has equity, but not stock.

Fullspeed

I'm a Realtor in Portland, OR. The supply here is having a very hard time keeping up with the demand. As long as that's the case, homeowners here will benefit from very solid appreciation. It's a great city, people are migrating here in droves. The cost of living is hard to beat. I am buying up as much real estate as I can (though just wiped out a good part of my savings with my 545i purchase!).

-Fullspeed

jakethesnake

Thanks, I am looking to buy this house and the sellers want 1.5M for it and they only paid 650K. I told them that I am willing to pay around 1.2M for it and they flat out refused my offer...that sucks.

I love the house it's about 4100SQ with 5BR, 4.5BA, w/ office and nice backyard on the hill and gated community which I really like. I can't wait for market to go down so I can buy a smiliar house in the same gated community.

Fullspeed

What they paid is irrelevant. Value is what the market bears (what a 'reasonable' buyer would be willing to pay for it). This is of course derived by looking at the recent sale comparables.

Waiting in Oregon will only cost you more money, but I've heard that real estate values in CA can be cyclical.

my530i

The broken border could be the cause for the house market rising. If you want to buy that 1.5M house, bid it down to 1.44M or so, and you'll be able to get it 1.46M or 1.47M.

jakethesnake

Right the only thing is that my limit is around 1.2M and that's even strechining a little. I love the house but will just have to wait until the prices go down a bit.

The comprables in the area are little deceiving, since this is a track house and all the houses around that area are custom homes and they're starting around 1.8+M.

my530i

Right the only thing is that my limit is around 1.2M and that's even strechining a little. I love the house but will just have to wait until the prices go down a bit.

The comprables in the area are little deceiving, since this is a track house and all the houses around that area are custom homes and they're starting around 1.8+M.
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I had the same situation like you, too, but end up with a something higher.