Im glad they arent selling, its a complete wake up call for all those who were greedy and ACTUALLY thought that they could buy and sell a house 2 years later for a 25% profit. STUPID Fu$king fools.
Here is one bear's opinion on ARMs reset (I get the impression it about kills him to say anything positive about anything, especially the housing market): "...Across the board, those in 3-Year ARMs with principal and interest payments will likely see their total mortgage payment drop...the situation has hugely improved from a year ago...the ARM reset problem has vanished for as long as rates stay low, or permanently if ARM holders roll over into affordable fixed rate mortgages..." http://globaleconomicanalysis.blogspot.com/2009/05/arms-reset-crisis-revisited.html
It had always been my dream to end up in that area, having lived there and in San Diego as a kid. But everytime I go back I just shed a tear. Horrible traffic and congestion, taxes, expenses, immigration, etc. etc. So now I live in Scottsdale and just drive over for some long weekends. Then I drive back and leave all the California mess to those who you willing to pay the freight. It used to be a paradise, and I feel fortunate that I was able to enjoy it at that time. But no more. Too bad, a real bummer.
You'll like this. I was teling a buddy a few weeks ago that Scottsdale is more like the public's perception of L.A. than 2009 L.A. actually is. Are the summers bearable for you?
bylosellhi--- what's up with the anti american economy hate spree? talking your positions, or do you really harbor those anti american sentiments? surf
If by the public's perception of LA you mean open spaces and easy driving, yes, you are right. That's the LA of 30 years ago, which is much like it is here now. (Phoenix, however, is becoming more like LA at present, with so many moving into the area.) But Scottsdale isn't Phoenix. There's been a lot of open spaces and parks set aside by the city as preserves, and for the native Americans, so its still very open and peaceful. The summers can get a bit toasty. Just need to have a pool and get away on a few trips to Colorado or the coast. Summer escapes here are a day's drive away, so no big deal. I spent a lot of time on the Right Coast, and I'd trade 110 degrees here anytime for 90 degrees, humidity and bugs.
I tell you this - I am talking my book, but as a dealer not an owner. Orange County and San Diego Real Estate under 700 or 800 - is on fire. Multiple offers are common. My brokerage has closed about 20 short sales is the last 3-4 months and we have offers on close to another 20. I would bet "real" inventory in San Diego is about 2-3 months. (listings without offers) FHA loans with 3 % down and low rates just caused the market to go crazy a few months ago.
Hey surf, aren't you the one telling everyone here how great things were in NYC a year ago, you never conceded any real estate bubble, and you've never really ever acknowledged any fundamental economic problems? I know, I know...things are great where you're at and everyone's flush with cash despite what the actual data has to say about the number of people behind on every loan imaginable and conceived....lmao. Say hi to all the deadbeats up in Westchester for me...including all those social butterflies you hang around like a gnat. You want to speak truth? You've been talking like an idiot for a long time. Underwater much?