06-23-2010 06:22 PM
I have been reseaching and monitoring the So. Calif. Residential Housing Market Status, to ascertain what will realisticly is coming our way, relative to Housing Prices, Housing Values , Housing Availability!! All statistics, Experts/Analysts, indicate that there will be Millions of Forclosure/Default Homes on the So. Calif. Markets within the next 1-3 years, and the Banks and Governments, will not be able to further stall out this situation!!! Therefore, can anyone provide a good sound estimate of how many millions of forclosure homes will be available in the Specific Cities in and around the San Diego Area!??? It should be most of the Subprime Loans, Interest Only Loans, Illegal Alien Home Loans/ Fraud Loans etc..... from 1996-2008!? Everyone, needs to know this Very Important Information,... to Plan the future of Home Purchases in the So. California Housing Market!!! Housing Values and Prices should end-up around 1960's Level, if my calculations are close!!!!??? GaryHere
07-27-2010 11:34 AM
I wish someone would reply to Gary's question. I'm wondering the same thing. I live in O.C. and it's looking nearly impossible to stay here. I want OUT of where I live now, the area isn't moving/nor the value increasing enough to keep up with more desirable areas increase. Sigh... I feel STUCK. errr...
07-27-2010 12:34 PM
HELLO "I FEEL STUCK"!!! I am happy someone read my comments!!! I continue to research and monitor this Housing and Banking Market, relative to all the Default/Foreclosure Homes through-out the U.S.,....and it is very obvious and clear that NO One in the Governments, (i.e. States and Federal etc.), want to even talk about this Major Financial Issue!!! It is Also, crystal Clear that this sitituation is continuing to get worse by the month!!!!! It has been said that the Housing Market is 70% of our Economic Base!!! If this is true, just how the Hell is this country going to turn-around without dealing directly with all these "Millions" of "Dead-Beat" /Liar -Fraud Loans and/or Mortgages, that really have NO legal Merit in a Court Of Law!!! I have heard on Cspan Committee hearing that as many as (70%) of All Loans in Florida, are "Fraud For Pay" - Criminal Loans/Mortgages!!!!.....ALL of these Mortgages have No Legal Merit!!! It has also been said that in California (90%) of the Loans issued in recent years are also, "Fraud For Pay" -Criminal Loans/Mortgages!!! These are (2) Two of the Largest States where Millions of Homes were Built and sold to Illegal Aliens and People who should Not and could Not Realistically and Legally qualify for them!!!!! Then there is Arizona, and Nevada, ....On , and On!!!! These Properties Must be taken out of the Banks, and Placed on the Market, to establish their Real-Actual Fair Market Values, and thereby re-establish a True Market Level-Value for the Housing Markets in these States!!! I believe the real problem with the Federal Government and/or Freddit and Fannie, is that they are Backing these Mortgages which are NO Longer at their Original USD Values, and the Paper, has been sold on Wall Street All over the World!!! Thus!!!!!,....they are Trapped, with Trillions, (i.e. between $5.5 and $8.0 Trillion USDs etc.) , Of worthless Mortgage/Loan Paper-Financial Instruments etc.!!!! THE LOW LIFE CROOKS GAMED THE HOUSING AND INVESTMENT MARKETS, AND NOW THERE WILL BE HELL TO PAY, TO GET OUT OF THIS CRISIS!!!! The same thing and worse has happened in the Commercial Real Estate Markets, as well!!!! It will be really interesting to see how the Crooks work their selves out of this self created financial Hole!!!??? Now that we have New Financial Regulations, they should just let Fannie/Freddie, just go into BK, and let the Crooks and Bad Bankers, take their Heavy Hits!!! NO MORE BAILOUTS AT TAX PAYERS EXPENSE!!!!,.....PERIOD!!!! GARY HERE
07-27-2010 02:21 PM
There is no way home prices will reach 1960's prices but it is a safe assumption to say they certainly could continue to fall. IMO, this all depends on job growth. If the economy starts to pick up with more job creation for the middle class, the housing market will stabilize and reserves on forclosed properties will be slowly introduced to the market. Such a scenario would result in relatively stable house prices for years. If job creation doesn't materialize in the next year or so home prices will most likely take another dip.
07-27-2010 04:07 PM
RESPONSE TO BAYREC COMMENT! I do not know who you are and what your credentials are for making your analysis , but everything you said , appears to be based on, the ,...."IF",...and the same Crap We all here on the TV CNN, MSN, Fox, Cable New channels, and Not on the Published Statistics, CSPAN House and Senate Committee Hearings, and of course the Various Associated Industry Experts, whos specifid functions and jobs are to continuely research, monitor and report ALL the various related Housing Market, Banking, Sales, Forclosure Facts/Statistics!!! They are all out there for anyone who wishes to look them up, and NOT just sit and listend to the B.S.-Scammers, who got us into this Mess!!! The U.S. Government states Weekly, that this will be a (10) year slow recovery !!!! The states such as California , is Bankrupt, and has a 9 Million Illegal Alien Created Social Services Debt, which has and will continue to cause major problems here in CA. There are No more Housing Jobs, Manufacturing Jobs, only Service Level Jobs, that pay little or Low wages!!! Smart companies are moving and going to move to States like Nevada, that have NO State Business Taxes, or Personal Income Taxes, and take there jobs with them, leaving nothing here but a Large Illegal Alien SUCKING SOUND!!!!,.....High Taxes, and out-of -control Crime, as the Millions of Criminal Illegal Aliens, Drug Criminals fight to hold on to their Territories and Business!!!! SO!,.....THERE WILL NOT BE ANY JOB GROWTH TO TALK ABOUT UNTIL THE STATE GETS CONTROL OF ITS BUDGETS, TAXES, CITIZENS, THERE WILL BE MILLIONS OF DEFAULTS AND FORCLOSURES, COMING WHICH WILL REDUCE THE PRICES OF ALL HOUSES ON THE MARKET, AND THERE WILL BE NO ONE ABLE TO BY OR QUALIFY FOR A $150K- $250K HOUSES WITH THE NEW FEDERAL LENDING LAWS REQUIREMENTS WHICH HAVE JUST GONE INTO EFFECT, SO THE HOUSE WILL BE SELLING, IF THEY HAVE BUYERS, FOR AROUND $60K-$100K FOR A 4 BDRM, 3 BATH HOUSE, IN MOST OF SO. CALIF. HERE IN HEMET, CA. AND THE INLAND EMPIRE MOST 5-4 BEDRM. 3-5 BATH HOMES ARE GOING FOR AROUND $180-$220K, EVERYDAY ALL DAY!!!! THE LA AND COASTAL AREAS WHERE THERE WERE MAJOR HOUSING BUILDING DURING THE BOOM, HAVE NOT YET FELT OR SEEN THE FORCLOSURE RELEASES BY THE BANKS, AND WHEN THEY DO, THE BOTTOM WILL FALL OUT OF THE MARKETS THERE ALSO!!! IT IS JUST A MATTER OF TIME, I FEEL, GIVEN THE CURRENT FACTS AND STATICTICS!!!! NOW ABOUT HOUSING SUPPLY, AS IT CURRENTLY STANDS, PURSUANT TO PUBLISHED MARKETING EXPERTS! ME NOW HAVE A (9) YEAR SUPPLY OF HOUSES ALREADY IN FORCLOSURE, WAITING TO BE RELEASED ON THE MARKETS BY THE BANKS!!! THIS MEANS THERE ARE ENOUGH HOUSES CURRENTLY, IN FORCLOSURE TO MEET ALL THE HOUSING SALES/BUYER NEEDS FOR APPROX. NINE YEARS WITHOUT EVER BUILDING ANOTHER NEW HOME!!!! CHECK THIS OUT WITH A LITTLE BASIC RESEARCH!!!!! There are 57 Million Mortgages according to the experts, and over 1/2 of them are currently in Default/Forclosure, with severl Million more to follow as the Unemployeed Jobs Markets continue to remain above 7%!!!!! THIS IS THE REAL WORLD WE LIVE IN!!! ALL OF MY STATISTICS CAN BE VERIFIED AND CONFIRMED,...GO LOOK THEM UP, AND GET IN TOUCH WITH THE REAL WORLD, MY FRIEND!!!!! GH
07-28-2010 04:48 PM - edited 07-28-2010 04:50 PM
Woah there, GaryHere, as I said in my post, all I was expressing was my opinion (IMO=in my opinion). As you said, everything needs a little basic research, where are you getting these numbers? What calculations have you seen that suggest housing prices to plummet to 1960's numbers?
State 2000 1990 1980 1970 1960
California $211,500 $249,800 $167,300 $88,700 $74,400
This is the median home price in CA over the last 70 years taken from: http://www.census.gov/hhes/www/housing/census/hist
What calculations indicate this large of a drop to you?
07-28-2010 05:25 PM
RESPONSE! I believe I have already given you the sources of my statistics and reference sources, ...I always do!! if you are interested in doing your own research , I suggest that you get on the internet and contact the various Real Estate Associations, both state and national, the State and U.S. Federal Agencies, and the Banking Associations , Mortgage Industry Associations to name a few very obvious!!! Over the past 18 months they have ALL Published periodic Articles, with all the information, and much more!! If you really want to know, there is more information , statistics and details than anyone needs!!!! This is the "Information Age",.... and the internet is packed with redundant research and articles for those individuals who really want to know about any given subject or acitivity!!! Everything I have stated has been widely Published and made Public!!! I have been doing this kind of research for over (45) forty-five years for myself, and my many clients, and I have been formaly highly Educated and highly Experienced at doing both Business and Market Research!!! However, in this specific Area, I believe, that some of the Information, and consequences have been intentionaly and significantly under stated! All in the continuing, Name and Pursuit of Profits, and on going manipulation of the Housing/Real Estate Markets etc.!!!! Once a Fraud- Crook-Scammer,..... always one!!! Once you have compromised your Persosnal Integrity,..... for a Buck,..... there is NO going back!!! Greed is Greed!!!! Fraudsters are Fraudsters!!!!! GH
07-29-2010 03:46 PM
I am sorry that I don't have the answer to you questions above. I think those are answers we'd all love to know. Unfortunately I find it very difficult to have precise knowledge of all the contributing factors, and even harder to gain access to all that information.
Even if we were able to obtain all the necessary information, there's no way of knowing how people, lenders, or the government will respond and react. In my personal opinion, without being able to predict the future, I don't think its possible to really even know. I think preparing for the future is smart, and the best way to do that is with the tools and information provided.
You bring up a lot of very interesting topics and intriguing points in your post and I enjoyed reading it. I commend you for taking the time to research and educate yourself on such important economical factors.
Here is a recent article "S.D home prices up 12.4% in May" that you might find interesting:
This information is generalized for all of San Diego as noted. Each local market has its own specific trends and data. I am happy to send you data for a particular area or neighborhood that you might be more focused on, or show you how to access it on our website. ZipRealty pulls their information directly from all the local MLS data, providing extremely accurate information.
Good luck with your inquiry, and please, post any new results or information here. I look forward to reading it.
07-29-2010 03:48 PM
I am sorry you feel stuck! There have to be options for you. Have you spoken with a local real estate expert in your area to see what options there are for you?
07-30-2010 03:43 PM
chejones I have noted your various comments, and I have read the article which you have referred me to, Thanks! First, I belive that I have commented, previously on the issues, that will directly effect the Housing Markets, in S.D., and California as a whole. Those factors, are well researched and Published Facts/Statistics, from your Industry Experts and Associations, Banks and their Associations-Industry Analyst, The Government Agencies, etc., etc., In that regard, all that any person needs to do, is apply basic College Taught, research and analysis to the problem by starting with the Total Number of homes built in a specific Geographical area, then look at who Sold Them, How the Homes were Sold Specifically, just Who bought All of these Homes!! What the Level of Uneployment is in this Regional Area., Then Look at the Current and Projected Number Of Defaults and Forclouses are in this Geo. Area. All of this information is readily available on various Published Internet Websites, and Association Websites, Government and Real Estate Websites. NOW,.....I believe the ONLY unknown issue, is the Near Term, (i.e 1-3 Year etc.), Realistic Economic Projection/Foredcast!!! NOT WHAT SPECIAL INTERESTS SCAMMER-CROOKS WANT US TO BELIEVE SO THEY CAN CONTINUE TO GAME THE SYSTEM UNTIL THEY HAVE SCAMMED THE LAST DOLLARS OUT OF THE SYSTEMS, ....YOU KNOW THE SCAMMER-FRAUDSTERS!! In this regard, I think we can now see fairly well, where things are going, with the current Governments, congresses, and special interests working overtime to control their special interests. To ture this Out-Of-Control Mess around, it will take a Major Cleaning Out of our Governments, both State and Federal!! The will need to pass new Laws, and programs, specifically designed to address these bedrock Issues!!! OR , JUST LET THING GO ALONG UNTIL THEY FINALLY REACH THEIR OWN BOTTOMS, AND THIS WILL BE A MAJOR MESS!!! IT IS ALL CRYSTAL CLEAR,......NO JOBS/WORK,.....NO MONEY TO SPEND, OR PAY HOUSING MORTGAGES, OR BUY HOUSES, OR EAT, DRIVE CARS ETC., ETC.,!!! THEREFORE,....the housing Markets everywhere will continue to drop until they reach the market level, at that time,.....it is well along and should not take more than another 1-3 years!!! GH