Its all been the same information for a bit. All that is happening is the "buyers standoff" is becoming iconified. Sellers won't sell... buyers won't buy. Here is California, we're losing population (if you haven't read the United Van lines 2005 survey, please do).
I'm not betting on much change in 2006. If I'm wrong, that's ok. 2Q 2007 looks to still be when everything converges and prices start to drop significantly.
From what I'm reading/seeing, prices are dropping about 2% to 3% a month here in the south bay. Exciting? No. Its like watching paint dry.
Please read my post on real estate emotions... We're so stuck in denial... until people realize that its not a river in Egypt, yawn.
The only interesting tidbit is that a coworkers wife is selling a home that priorly sold for $940k for $770k. But that's down in oceanside and I intend for this to stay a southbay centric blog.
Neil
Showing posts with label boring. Show all posts
Showing posts with label boring. Show all posts
Friday, October 20, 2006
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