Comments on: The 2007 Scripps Ranch Report Card (Plus More!) http://sandiegohomeblog.com/2008/01/03/the-2007-scripps-ranch-report-card-plus-more/ A San Diego Real Estate Web Log Fri, 30 Jul 2010 07:03:29 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Steve Berg http://sandiegohomeblog.com/2008/01/03/the-2007-scripps-ranch-report-card-plus-more/comment-page-1/#comment-145195 Steve Berg Sat, 05 Jan 2008 01:54:36 +0000 http://sandiegohomeblog.com/2008/01/03/the-2007-scripps-ranch-report-card-plus-more/#comment-145195 Jeff - Thanks. But I'm not sure that I'm buying your enthusiasm. I know your opinion is somewhat different, but I do appreciate the mercy you showed me. David - We have seen wide variations in sale prices within the foreclosure market. It depends on the lender and their motivation. Several in our core market of Scripps Ranch have been sold well below what most reasonable people would consider is the market today. Some others are priced too high and are just sitting. Interest rates are excellent now and we should expect they will likely stay that way or go even lower. The issue we are finding with lenders isn't so much the down payment as it is the underwriting. They have awakened and are actually checking the borrower's income, credit, employment, etc. If they had done this all along, we might not be in such a mess right now. Jeff – Thanks. But I’m not sure that I’m buying your enthusiasm. I know your opinion is somewhat different, but I do appreciate the mercy you showed me.

David – We have seen wide variations in sale prices within the foreclosure market. It depends on the lender and their motivation. Several in our core market of Scripps Ranch have been sold well below what most reasonable people would consider is the market today. Some others are priced too high and are just sitting.

Interest rates are excellent now and we should expect they will likely stay that way or go even lower. The issue we are finding with lenders isn’t so much the down payment as it is the underwriting. They have awakened and are actually checking the borrower’s income, credit, employment, etc. If they had done this all along, we might not be in such a mess right now.

]]> By: David Finck http://sandiegohomeblog.com/2008/01/03/the-2007-scripps-ranch-report-card-plus-more/comment-page-1/#comment-145194 David Finck Fri, 04 Jan 2008 22:49:04 +0000 http://sandiegohomeblog.com/2008/01/03/the-2007-scripps-ranch-report-card-plus-more/#comment-145194 I am hesitant to brake out the party favors yet. What I have seen in the forclosure market are high prices ... just because it is a forclosure doesn't mean its priced to sell. This is much like the hyped auction hystaria. The second part of the purchase eqation is the intrest rate. Intrest rates are holding not really going down much. Plus lenders are requiring much more down. (overly causous?) Plus, the consumers/buyers on a whole can feel the market may go lower and potential buyers are waiting to see where this might bottom out. When this market does turn around .... hangon it's going to be an "E" ticket! I am hesitant to brake out the party favors yet. What I have seen in the forclosure market are high prices … just because it is a forclosure doesn’t mean its priced to sell. This is much like the hyped auction hystaria. The second part of the purchase eqation is the intrest rate. Intrest rates are holding not really going down much. Plus lenders are requiring much more down. (overly causous?) Plus, the consumers/buyers on a whole can feel the market may go lower and potential buyers are waiting to see where this might bottom out. When this market does turn around …. hangon it’s going to be an “E” ticket!

]]> By: Jeff Brown http://sandiegohomeblog.com/2008/01/03/the-2007-scripps-ranch-report-card-plus-more/comment-page-1/#comment-145191 Jeff Brown Fri, 04 Jan 2008 17:55:23 +0000 http://sandiegohomeblog.com/2008/01/03/the-2007-scripps-ranch-report-card-plus-more/#comment-145191 Steve -- I'm breathless with excitement after pouring over your stats! :) Your scoop on Tierra Santa condos is making UT writers turn green. Seriously, keep them coming. As a San Diegan I'm always eager to read a reliably concise and current info on our market. Your prediction? Now you've forced my hand. I've been telling friends in the biz who've asked me, but haven't made my views known publicly. Thanks a lot fella. :) Steve — I’m breathless with excitement after pouring over your stats! :)

Your scoop on Tierra Santa condos is making UT writers turn green.

Seriously, keep them coming. As a San Diegan I’m always eager to read a reliably concise and current info on our market.

Your prediction? Now you’ve forced my hand. I’ve been telling friends in the biz who’ve asked me, but haven’t made my views known publicly.

Thanks a lot fella. :)

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