Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

4 Major California Home Markets See Drop In Prices
Associated Press ^ | September 20, 2006

Posted on 09/25/2006 8:41:42 AM PDT by GodGunsGuts

Sep 20, 2006

4 Major California Home Markets See Drop In Prices

(AP) LOS ANGELES A real estate research firm says the median price of a California home increased last month at the slowest annual rate in nine years.

Four counties actually saw price declines. Among the largest real estate markets, according to DataQuick Information Systems, the steepest drop was 6.7 percent in San Mateo County. Other decreases were seen in Marin County (2.3 percent), San Diego County (2.2 percent) and Alameda County (1.5 percent).

Appreciation in Sonoma, Santa Clara, San Francisco and Contra Costa counties was essentially flat.

The statewide median price was $472,000 in August, a 3.5 percent hike over the year-ago period. It was the slowest increase since June 1997, when statewide home prices rose just 2.8 percent.

(© 2006 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)


TOPICS: Business/Economy; US: California
KEYWORDS: bubblebrigade; depression; despair; doom; dustbowl; eeyore; gloom; grapesofwrath; housingbubble; joebtfsplk; nonewland; theskyisfalling
Navigation: use the links below to view more comments.
first previous 1-20 ... 201-220221-240241-260261-265 next last
To: GodGunsGuts
So you don't think that Greenspan gave the green light when he specifically drew attention to ARMs, and then followed up by saying borrowers might benefit from them?

No.

Saying people would have saved money with an ARM during the past decade (of falling rates) is in no way saying that they should get them in the future. That's like saying "Gold has gone from $255 in 2000 to $590, people who bought at $255 profited" (fact) is a recommendation to buy gold now.

221 posted on 09/25/2006 7:32:26 PM PDT by Toddsterpatriot (Goldbugs, immune to logic and allergic to facts.)
[ Post Reply | Private Reply | To 217 | View Replies]

To: durasell

As a percentage of the original sales price...I was referencing the original sales price when quoting "up 250%". So when I say down 100% it is also of the original sales price. My house could go down 100% of the original sales price right now, and I would still be up a couple of hundred grand.


222 posted on 09/25/2006 7:43:04 PM PDT by Drago
[ Post Reply | Private Reply | To 163 | View Replies]

To: Petronski

bttt


223 posted on 09/25/2006 8:23:43 PM PDT by nopardons
[ Post Reply | Private Reply | To 76 | View Replies]

To: OhhTee5

Only in selective markets and not across the board, in all price ranges.


224 posted on 09/25/2006 8:26:08 PM PDT by nopardons
[ Post Reply | Private Reply | To 7 | View Replies]

To: GodGunsGuts
"A real estate research firm says the median price of a California home increased last month at the slowest annual rate in nine years.

It is the end of the world! /sarcasm

225 posted on 09/25/2006 8:30:07 PM PDT by TheLion
[ Post Reply | Private Reply | To 1 | View Replies]

To: GodGunsGuts

I zillowed my home tonight -- it's increased $29,000 in the last week. Florida seems to be hanging in there.


226 posted on 09/25/2006 8:30:45 PM PDT by GOPJ (Muslim outrage would be taken more seriously if Muslims weren't such "double standard" hypocrites.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Moonman62

bttt


227 posted on 09/25/2006 8:35:08 PM PDT by nopardons
[ Post Reply | Private Reply | To 97 | View Replies]

To: AprilfromTexas

Where is your paradise? We live in California but realize retiring here probably isn't going to happen. We would are looking to the future to find a great climate for golf and tennis for our golden years.


228 posted on 09/25/2006 8:41:32 PM PDT by kmiller1k (AB)
[ Post Reply | Private Reply | To 21 | View Replies]

To: kmiller1k

Corpus Christi and the DFW area...but it's a big state with many different things to offer. The Austin area is gorgeous, as well as any where in East Texas. Spend some time doing the tour...and WELCOME!!


229 posted on 09/25/2006 8:53:57 PM PDT by AprilfromTexas
[ Post Reply | Private Reply | To 228 | View Replies]

To: stylin19a

You are right about the plank. But then again, you don't know what I have had to put up with since crossing paths with a few others on this thread. Still, I apologized for my behavior and asked for forgiveness, but nobody took me up on it. What's a guy to do? Anyway, it's nice to meet you. So getting back to our previous discussion, what is this obvious point I've been missing?


230 posted on 09/25/2006 9:35:47 PM PDT by GodGunsGuts
[ Post Reply | Private Reply | To 218 | View Replies]

To: Toddsterpatriot; djf

Gee, I'm surprised he didn't mention that ARMs and interest only loans can be risky...or that existence exists...or that 2 + 2 = 4. Just think about all the truisms he left out so he could focus on the benefits of ADJUSTABLE RATE MORTGAGES!


231 posted on 09/25/2006 9:44:03 PM PDT by GodGunsGuts
[ Post Reply | Private Reply | To 219 | View Replies]

To: GodGunsGuts

Maybe this answer is down the thread, but here's my question:

A short while ago I read on one of these threads that something like 40% of houses in LA had reduced prices. I assume this meant houses on the market, not sold ones.

I am wondering if the lower prices as described here are the sold prices or just asking prices.


232 posted on 09/25/2006 9:45:36 PM PDT by little jeremiah
[ Post Reply | Private Reply | To 5 | View Replies]

To: little jeremiah

I refer you to the stats in post 186 for California overall. Hard to believe if they're true that the 40% figure for LA is true.


233 posted on 09/25/2006 9:47:44 PM PDT by osideplanner
[ Post Reply | Private Reply | To 232 | View Replies]

To: kmiller1k

Spokane Washington is becoming a big spot for Californians to retire. Housing prices are very reasonable and the region is quite pretty.

My wife and I liked a home that had a contingent offer at $419K on it from a woman in San Diego who is selling her condo to buy this one.

We were looking at another one online today -

5 bedrooms, 4 baths, 3 car garage, 4000 sq ft, and its one of the more affordable homes in an upscale walled/gated community. Best school district in Spokane, beautiful landscaping, high quality finish inside and out, and it is on a level lot on a cul-de-sac. No idea what this would cost in California or some of the other crazy markets but I would bet it would be ridiculous. In Spokane it is $385,000.


234 posted on 09/25/2006 9:51:48 PM PDT by volunbeer (Pelosi)
[ Post Reply | Private Reply | To 228 | View Replies]

To: little jeremiah

The article references actual price declines.


235 posted on 09/25/2006 9:52:08 PM PDT by GodGunsGuts
[ Post Reply | Private Reply | To 232 | View Replies]

To: GodGunsGuts
Gee, I'm surprised he didn't mention that ARMs and interest only loans can be risky...

though this would not have been the case, of course, had interest rates trended sharply upward.

LOL!

You are slow. A mortgage that adjusts downward when interest rates go down will save you money. But not if rates went up, of course. That was his point.

236 posted on 09/25/2006 9:53:07 PM PDT by Toddsterpatriot (Goldbugs, immune to logic and allergic to facts.)
[ Post Reply | Private Reply | To 231 | View Replies]

To: osideplanner
The median home price for all of CA seems oftly steep. That sounds more like the median price for OC or LA. I'll check into it and get back to you--GGG
237 posted on 09/25/2006 9:54:22 PM PDT by GodGunsGuts
[ Post Reply | Private Reply | To 186 | View Replies]

To: volunbeer

The price on that home in California would depend on area and condition of course. If it's not a pit, it would get at least $225-275 per square foot, rough estimate.


238 posted on 09/25/2006 9:56:00 PM PDT by osideplanner
[ Post Reply | Private Reply | To 234 | View Replies]

To: GodGunsGuts

nice to meeet you...i'm amazed this thread got > 230 posts.
it's been so long, not sure there is a point anymore...

freepon


239 posted on 09/25/2006 9:58:02 PM PDT by stylin19a (I'm not just long, I'm Lama long !)
[ Post Reply | Private Reply | To 230 | View Replies]

To: GodGunsGuts

The median price in Orange County was over 700,000 last I looked.


240 posted on 09/25/2006 9:59:02 PM PDT by osideplanner
[ Post Reply | Private Reply | To 237 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-20 ... 201-220221-240241-260261-265 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson