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 This material may not be published, broadcast, rewritten, or redistributed.)
They're selling and coming to Colorado. Unfortunately, 70% of them are socialists.
LOL...You can have them! d:op
It's not a pit by any stretch. Hardwood floors, marble tile, custom wood built-in shelves. All that for probably around $95 a sq ft.
I don't understand how people can afford to buy homes when they are over $200 a sq ft.
I live in North County Coastal, and have seen one property nearby drop from $1.3, listed, re-listed, then taken to FSBO now for $849. The owner has another one FSBO around the corner. Both for sale over a year.
While the long time owners can make fun of all this "sky is falling" crap, this owner is taking in in the shorts. Big time. Prices in San Diego are 2004 levels. Anedotal, but this is coastal, not inland. Speculators are getting killed.
The stats I use are from the Cal Association of Realtors and Fannie Mae.
The median price for re-sale single-family homes in Orange County fell 2% to $685,000, a year-over-year gain of 1.5%.
http://orangecoastrealestate.com/
I'm from WVA and live in Cal. The housing markets are so different it looks like two different planets.
Check out post #245
I recall earlier this spring $714,000 or some such.
Did you see post #245? Ouch!
My wife and I will pick up our fifth home in the next two-three months.
What I'm doing is turning my sellers into buyers. Cash out and buy thge home they need where they move to and keep the current one for rent.
The way the threads go around here, one would think that buying or selling gold or even advocating it as something to consider is a type of illegal activity like selling smack.
Confusing to poor hermits like myself.
Advocate away. There are some on this thread who believe that making money off gold is somehow bad or evil, whereas if you make money selling a loan or a house you're pure as the driven snow. As for me, I plan to keep making money off gold. And as Larry David would say, things are looking pretty, pretty good right now:
http://www.jsmineset.com/cwsimages/Miscfiles/3452_Charts250906-1.pdf
Got it, thanks.
And a loud "d'uh"! from me.
oside: the 40% reduced was that 40% of the houses had been reduced in price, not a 40% price reduction. I assume it meant asking prices.
I read as many of these threads as I find, being the curious type and also trying to sell my west coast property.
Pretty interesting times, to say the least.
If I had any extra money, I'd buy some gold. ALso some cheap fixers in an area that has had very little explosive growth in prices. But I don't, so it's all purely theoretical. Interesting, though.
Best of luck selling your property. There's a good chance you will have another chance to sell it at a decent price as (in the case of most charts) there is usually a solid bounce on the way down that nearly matches the previous high.
In the next couple of days we'll find out if the peoples' loan went through. I almost feel like telling them (they're a young couple) - "Don't buy now! Wait a year!" But then they might not buy our property... we reduced the price almost $40K. Off of original price of $219K, which was lower than what two realtors advised. FSBO, and not the first time we've done that.
And since we don't owe a penny on it, we won't mind if it doesn't sell and we stay.
OOOOOOOOOOOOO ... Get real. It ain't gonna last long.
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