Did my last site update for a few days. Headed up to the central coast tomorrow with the family… 4-hour drive with a 4 and 1 year old is not gonna be fun.
Had some amazing discrepancy in depth of rollback on decent closes. A few buyers paid equivalent to 2005 prices while some paid early 2004/late 2003 price equivalents. Still a small sample, but the median price on closings for July is down pretty smartly from June numbers.
Had a nice place in NP, 31 Malibu, get into escrow very quickly. They were smart and priced near their 2004 purchase price.
I’ve got a great Curious George DVD for you. I’ll drop it in your mailbox. On second thought, maybe your doorstep would be better.
Yeah… stay away from Ipo’s mailbox, he has been known to go all 909 on people who mess with his mailbox. I was thinking that Xanax might work better than Curious George, but not so much for the kids as for the parents.
IPO - Have you mastered “The Look”? My Dad had it down cold, and while my brother and I could fuss some, there was a point when you got “The Look.“ Neither of us ever really wanted to know what would happen if we continued fussing further, so the car was very quiet after that (for a little while, at least).
IPO - Have you mastered “The Look”? My Dad had it down cold, and while my brother and I could fuss some, there was a point when you got “The Look.“ Neither of us ever really wanted to know what would happen if we continued fussing further, so the car was very quiet after that (for a little while, at least).
I wish I only got the look - I always got the clog whipped at me. And let me tell you, my mother never missed. Oh, except one time when she threw the clog across the room and broke the fish tank. The poor fish got the brunt of that anger. She may have had great aim, but I could duck faster.
Troop - I love Zoolander. It’s one of those movies that grows on you the more you see it.
One of my husband’s favorite lines (one of many - yup, he’s a movie quoter), “Have you ever wondered if there was more to life, other than being really, really, ridiculously good looking?“
Or, whenever he coughs I get, “I think I’m getting the Black Lung.“
I’m looking forward to Ben’s upcoming movie Tropic Thunder. Robert Downey, Jr. looks hilarious in this movie. I can’t remember what movie we went to where we saw the trailer, but I was laughing so hard I was crying. I hope the movie is as good as the trailer.
I’ve got a great Curious George DVD for you. I’ll drop it in your mailbox. On second thought, maybe your doorstep would be better.
Oh, we have many Curious George DVDs. Watched about an hour’s worth from around Lompoc to Santa Maria. Thomas DVDs are a big hit with my 1-year old too… This was the first time he got to watch a show in the truck. He was enthralled.
Adding the on-board DVD system was the smartest upgrade ever to my gas guzzlin’ SUV. I got a whoppin’ 16 miles per galloon on the way up here!
IPO - Have you mastered “The Look”? My Dad had it down cold, and while my brother and I could fuss some, there was a point when you got “The Look.“ Neither of us ever really wanted to know what would happen if we continued fussing further, so the car was very quiet after that (for a little while, at least).
I don’t believe I have mastered it yet, but I have a good working version of the “look” going. When combined with a nice low guttural “knock it off”, I usually get good results. IPO can be very menacing when necessary…
We tried a new pizza place up here last night and my oldest apparently got food poisoning. He uh, how should I say, parted with his dinner on his grandpa’s bed… It was a long night but he’s bounced back like a champ today. Hopefully tonight brings some blissful rest. I am going to need a vacation from my vacation I think.
Wow, I found a serious knife catcher… Someone paid $860K for a 2800sf VoC Cantara unit that was originally purchased for $895K in early 2007, or roughly equivalent to late 2005 pricing. Couple of streets over, a much smarter KC paid $850K for a 3400sf VoC Westbourne place, roughly equivalent to early 2004 pricing where the rest of the market is.
How in the world does someone pay 15-20% more than they should with all the media coverage housing’s collapse gets?!
And on the topic of overpaying, 28 Shady Lane in TRidge closed for $1.57M. That price is almost $350K ABOVE the 2004 purchase price…
What was shaping up to be a nice month in terms of price declines has gone the other way. Had a bunch of recent closings at 2005 prices. Someone paid nearly late 2005 purchase price on a plan 3 Portisol in Woodbury, 70 Loganberry, that closed on the 12th.
“How in the world does someone pay 15-20% more than they should with all the media coverage housing’s collapse gets?!“
Where was their realtor…..?
Their realtor was telling them that there were already two offers on the property and they better make a full price offer because the bottom is in and they risk being forever priced out of the market and being renters forever.
“How in the world does someone pay 15-20% more than they should with all the media coverage housing’s collapse gets?!“
Where was their realtor…..?
Sadly, they don’t know how to use Google, and therefore do not read IHB. They have never read the OCR, WSJ, Newsweek, Vogue, Cosmo, or YM, actually they probably can’t read at all. Their Realturd has never heard of IHB and even if asked would say that we are bunch of chicken littles, plus their Realturd probably can’t read either. Their Realturd has no idea how bad the foreclosures are, and has no clue how many are in trouble in the neighborhood. The Realturd for Turtle Ridge should be shot on general principle with all the foreclosures there. That is like selling a used car for more than the exact same brand new car. I could go on, but you all get my point, you need to truly be informed before you make decisions.
Interestingly, 53 Legacy in West Irvine is coming up as cancelled now. It had been pending sale for quite some time… I assume it’s headed to auction or already went. Have you seen it Graph?
updated - Nevermind Graph. Saw it on realtycrap.com. Went back to bank for $767K.
Oh, except one time when she threw the dog across the room and broke the fish tank. The poor fish got the brunt of that anger. She may have had great aim, but I could duck faster.
I know there are many USC fans on this blog. The new USC head of Real Estate practice has projected 2010 the local market will turn around, and it might even turn around 2009 ( published on the OCregister this sunday, I can’t find the online version of the article).
so do you all think he is full of shxt? Why he is not concerned about a. those homes that are not listed but will have to transacted someday; b. the next bigger wave of alt-a foreclosures projected by both in some main stream media and here on this blog? Personally, I am concerned about these two facts, but I just don’t have enough solid data to answer the question myself.
The California forecast, by economist Ryan Ratcliff, takes note of the state’s slowing real estate markets. Ratcliff concludes that the real estate slowdown will lead to a flat housing market and a slower economy.
“We do not predict a recession, nor do we predict a substantial decline in average nominal home prices,” Ratcliff says. “This forecast it based on two arguments. There is not enough vulnerability in the usual sources of employment loss to create a recession, and the historical record suggests that average home prices do not usually fall without this kind of job loss.”
As in the national forecast, Ratcliff is acknowledging declines in real estate and associated job losses in real estate-sensitive sectors. But absent job losses in manufacturing or other sectors, there will be no recession, he says.
Ratcliff does note the possibility of some downside risk to the forecast, however, due to the potential impact of exotic real estate financing and uncertainties about the effects of home prices on consumption
Heh, it’s funny how 56 Calavera went into escrow two days before it was scheduled for the auction. At $899k it is a short sale since the NTS is $950k. I wonder if we have a new phenomenon going on here called straw escrowers?
That’s what I call a commitment! 
