Reply #6

In the discussion thread: Homes Sell in Two Weeks With Low Supply for Spring Buyers [View all]

Tue Feb 5, 2013, 12:28 PM

6. This isn't good news for me

I'm looking to buy a house in San Diego and the "low end" of the market is completely gone.

Houses in "not so great" areas like Encanto and Spring Valley are listing for 20% more than they did 2 months ago. And you may not want to live in those areas, at least base on the CrimeMapping.Com map of the areas.

A 20% rise in two months (on the low end) doesn't seem like good economics to me - seems like a bubble, or at least a frenzy.

A house came on the market yesterday in an okay area and my agent has been told that so many offers have come in without seeing the house that it'll be sold as-is and they're taking offers for one week only.

I'll be watching it, but I think this $300,000 house will sell for significantly more than that price.

It won't get back to the $425,000 it sold for in 2006, but that price was just insane.

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Replies to this discussion thread

23 replies	Author	Time	Post
Homes Sell in Two Weeks With Low Supply for Spring Buyers [View all]	Purveyor	Feb 2013	OP
This is very good news ...	Botany	Feb 2013	#1
Despite the repukes best efforts, this economy is growing, albeit not as fast as I would like but	Purveyor	Feb 2013	#4
As a landscaper I can't tell you how important it is to have a solid housing market	Botany	Feb 2013	#5
In some areas, the banks not foreclosing and reselling properties.	amandabeech	Feb 2013	#18
working link	s-cubed	Feb 2013	#2
Fixed and thanks for the backup. eom	Purveyor	Feb 2013	#3
This isn't good news for me	thearchive	Feb 2013	#6
The bubble is bubbling...	PasadenaTrudy	Feb 2013	#22
Excellent news as I may be putting mine on the market soon	liberal N proud	Feb 2013	#7
Not here in Savannah GA	n2doc	Feb 2013	#8
Well that's odd, look at this: Strong 2012 Finish For Home Sales (source savannahnow.com)	Purveyor	Feb 2013	#10
Still thousands of houses for sale, a 10 month supply at last year's rates	n2doc	Feb 2013	#11
Good, get the floor laid in the bedroom and one more bathroom to gut and re-do and	snooper2	Feb 2013	#9
I have a very difficult time believing this article	bucolic_frolic	Feb 2013	#12
I read somewhere	Le Taz Hot	Feb 2013	#13
Give that most people do NOT start to look to March, this is much ado about nothing	happyslug	Feb 2013	#14
Does anyone recall a recent comment about institutional property purchases skewing the market.	Ford_Prefect	Feb 2013	#15
Does anyone recall the last time the 'glass half empty' crowd ever welcomed a positive economic	Purveyor	Feb 2013	#16
One aspect of the report discussed how banks and some investment firms were buying large groups	Ford_Prefect	Feb 2013	#17
I'm sorry that everyone has not been made whole in this economy overnight and I do respect	Purveyor	Feb 2013	#19
Yes, I'm one of the 'glass half empty crowd.'	amandabeech	Feb 2013	#21
Camping to buy a house in the bland suburbia of San Ramon...	Gormy Cuss	Feb 2013	#20
Where did all the inventory go?	PasadenaTrudy	Feb 2013	#23

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