Comments on: My, How You’ve Grown! http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/ A San Diego Real Estate Web Log Sat, 13 Mar 2010 21:29:14 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: The San Diego Home Blog » Blog Archive » A Walk Through the Willows http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/comment-page-1/#comment-21245 The San Diego Home Blog » Blog Archive » A Walk Through the Willows Mon, 08 Jan 2007 20:50:29 +0000 http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/#comment-21245 [...] One home in the Willows was the subject of one of our previous posts on price trends in the area. These homes were originally constructed beginning in 1999 and were priced in the mid to high $300,000’s. In the past year, sale prices for Willows homes have ranged from $799,000 to $895,000, with the highest recorded price during this time being the oldest. As of this writing, no homes are currently offered for sale and just one is in escrow, though several have “failed to sell” (expired or withdrawn from the market) over the past several months, likely as the result of a softening market. [...] [...] One home in the Willows was the subject of one of our previous posts on price trends in the area. These homes were originally constructed beginning in 1999 and were priced in the mid to high $300,000’s. In the past year, sale prices for Willows homes have ranged from $799,000 to $895,000, with the highest recorded price during this time being the oldest. As of this writing, no homes are currently offered for sale and just one is in escrow, though several have “failed to sell” (expired or withdrawn from the market) over the past several months, likely as the result of a softening market. [...]

]]> By: the Property Monger » Real Estate Blog week in review http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/comment-page-1/#comment-3362 the Property Monger » Real Estate Blog week in review Sat, 28 Oct 2006 23:11:08 +0000 http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/#comment-3362 [...] San Diego Home Blog hits its 6 month anniversary (Congrats) and is featured in the Carnival of Real Estate hosted by HotPads. [...] [...] San Diego Home Blog hits its 6 month anniversary (Congrats) and is featured in the Carnival of Real Estate hosted by HotPads. [...]

]]> By: Kris Berg http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/comment-page-1/#comment-2636 Kris Berg Tue, 24 Oct 2006 14:12:55 +0000 http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/#comment-2636 Brian, Well said. And, congrats on the big Carnival win! Brian, Well said. And, congrats on the big Carnival win!

]]> By: The San Diego Home Blog » Blog Archive » Carnival of Real Estate http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/comment-page-1/#comment-2635 The San Diego Home Blog » Blog Archive » Carnival of Real Estate Tue, 24 Oct 2006 14:08:04 +0000 http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/#comment-2635 [...] Best of Show: The Mortgage Reports on Freakonomics. Technology: rsspieces on why you must have a Blog by January 7th. Marketing: Truliablog on your “other” office. Humor: The San Diego Home Blog on one home’s growth chart. (Always the funny girl. Next week we shall aspire to serious journalism). Law: The Zillow Blog on property rights. Lending: Brian Brady at activerain on lenders and their fiduciary responsibilities. Economics: Zepad on World Cup Soccer and housing. [...] [...] Best of Show: The Mortgage Reports on Freakonomics. Technology: rsspieces on why you must have a Blog by January 7th. Marketing: Truliablog on your “other” office. Humor: The San Diego Home Blog on one home’s growth chart. (Always the funny girl. Next week we shall aspire to serious journalism). Law: The Zillow Blog on property rights. Lending: Brian Brady at activerain on lenders and their fiduciary responsibilities. Economics: Zepad on World Cup Soccer and housing. [...]

]]> By: Brian Brady http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/comment-page-1/#comment-2604 Brian Brady Tue, 24 Oct 2006 05:51:33 +0000 http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/#comment-2604 Willie's problem is that he eats so darn much now (the monthly mortgage payment) that the average potential parent (buyer in San Diego) can't afford the feed bill (doesn't have the income). Willie is not alone. He has tons of brothers and sisters who have grown obese from their eating habits. Sadly, I think the "market" imposed diet will last another 12-18 months before Willie is fit enough to get a new mommy and daddy Willie’s problem is that he eats so darn much now (the monthly mortgage payment) that the average potential parent (buyer in San Diego) can’t afford the feed bill (doesn’t have the income).

Willie is not alone. He has tons of brothers and sisters who have grown obese from their eating habits. Sadly, I think the “market” imposed diet will last another 12-18 months before Willie is fit enough to get a new mommy and daddy

]]> By: Kris Berg http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/comment-page-1/#comment-2057 Kris Berg Fri, 20 Oct 2006 11:28:37 +0000 http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/#comment-2057 Groan... :) Groan… :)

]]> By: Phil Hoover http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/comment-page-1/#comment-2009 Phil Hoover Fri, 20 Oct 2006 04:44:59 +0000 http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/#comment-2009 Geez, Kris ~ That's enuf to give me the Willies :) (sorry, couldn't hep mysef) Phil Geez, Kris ~
That’s enuf to give me the Willies :)
(sorry, couldn’t hep mysef)
Phil

]]> By: Steve Berg http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/comment-page-1/#comment-1979 Steve Berg Thu, 19 Oct 2006 17:25:48 +0000 http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/#comment-1979 At which point do we stop? Well, based upon the market adjustment we are currently experiencing, I would say we are getting there. As the market adjusts back to equilibrium over the next year (or two) Willie will be at a price that will likely serve as both a step up and/or a final/forever home (if there is such a thing in California). We have spent a lot of time and words on the current market adjustment but at some point (we can all speculate when) there will be equilibrium. Whenever this occurs, the big difference, in my humble opinion, is that we will have an extended period of stability, more akin to a "normal" market with reasonable appreciation, nothing like what we have seen during the 2000-2005 period. That ship has obviously sailed. At which point do we stop? Well, based upon the market adjustment we are currently experiencing, I would say we are getting there. As the market adjusts back to equilibrium over the next year (or two) Willie will be at a price that will likely serve as both a step up and/or a final/forever home (if there is such a thing in California). We have spent a lot of time and words on the current market adjustment but at some point (we can all speculate when) there will be equilibrium. Whenever this occurs, the big difference, in my humble opinion, is that we will have an extended period of stability, more akin to a “normal” market with reasonable appreciation, nothing like what we have seen during the 2000-2005 period. That ship has obviously sailed.

]]> By: Jack Tong http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/comment-page-1/#comment-1948 Jack Tong Thu, 19 Oct 2006 16:00:31 +0000 http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/#comment-1948 good point Steve. So Willie has transitioned from being a step up to final/forever home status. During the same 4 years, true starter homes also jumped in price, and their status were elevated to step up homes. In order to fill the void, condo conversions joined the ranks and became the new starter homes. At which point do we stop? when Willie costs $1.2 million, those condo conversions would be $500,000. Would new couples be buying up tool shacks to use as their starter home? good point Steve. So Willie has transitioned from being a step up to final/forever home status. During the same 4 years, true starter homes also jumped in price, and their status were elevated to step up homes. In order to fill the void, condo conversions joined the ranks and became the new starter homes.

At which point do we stop? when Willie costs $1.2 million, those condo conversions would be $500,000. Would new couples be buying up tool shacks to use as their starter home?

]]> By: Steve Berg http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/comment-page-1/#comment-1942 Steve Berg Thu, 19 Oct 2006 13:50:44 +0000 http://sandiegohomeblog.com/2006/10/18/my-how-youve-grown/#comment-1942 Jack: Once again, you are correct in your assumptions and calculations to the extent that your scenario assumes a first time homebuyer and/or a buyer with limited down payment. However, the reality today (fortunate or unfortunate, as it is) is that there are many thousands of potential homebuyers out there who, through years of ownership of their existing home and its' accompanying appreciation/debt reduction/equity building, have the ability to buy Willie with a much more substantial down payment. Lest we not forget that while there are many buyers of homes during the past year (or two) who may not have benefitted from the appreciation curve of the past 6-8 years, there are tens of thousands more who have and can now bring a much greater down payment to the table, if necessary. Willie will be okay. Responding to daughter Becky's comment: I agree with your Mother - get your homework done AND clean your room!! Jack: Once again, you are correct in your assumptions and calculations to the extent that your scenario assumes a first time homebuyer and/or a buyer with limited down payment. However, the reality today (fortunate or unfortunate, as it is) is that there are many thousands of potential homebuyers out there who, through years of ownership of their existing home and its’ accompanying appreciation/debt reduction/equity building, have the ability to buy Willie with a much more substantial down payment. Lest we not forget that while there are many buyers of homes during the past year (or two) who may not have benefitted from the appreciation curve of the past 6-8 years, there are tens of thousands more who have and can now bring a much greater down payment to the table, if necessary. Willie will be okay.

Responding to daughter Becky’s comment: I agree with your Mother – get your homework done AND clean your room!!

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