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SweetBrunette | When will the Real Estate in Orange County, California will drop by at least 20%? |
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 |
 
BaFfler
|
Why, so you can buy? |
|
cognitively_dislocated
|
Probably never. Unless an earthquake hits, and even then it probably wont. Id look eslewhere.... |
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ADCHOP
|
When you want them to drop. Be positive and start thinking within yourself, you will feel good |
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Yahoo
|
When the big one hits and destroys everything. |
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satarnag
 |
Never, because that will go below the replacement cost. The predictions from local economist state a 6-8% appreciation rate, not a decline.
Regards |
|
Jill B
|
It has started.....
Keep in mind...........
Times and markets are changing!
In California with average homes selling well over $500,000, a 20% decline is $100,000! In any market 'timing is everything'! So, could you afford a loss of 25% of your investment all because of poor timing???
This last up cycle was 10 years in many parts of the country. The downcycle now started in CA, Wash DC, NYC, Vegas and other hot areas of the past are all soft and getting softer.
From 1990 to 1996, the average home in San Diego lost 20% of its' value! The cycle we are now enterng looks like it could well exceed that on the downside!
With all the 100% financing, interest only loans, EZ qualifing etc...even a slight decline will cause many to be unable to sell for the amount due on their loans!
For some great 'insider' articles on the San Diego real estate market, which I believe will apply to any of the hot real estate markets of the past five years.....visit:
Times and markets are changing!
In California with average homes selling well over $500,000, a 20% decline is $100,000! In any market 'timing is everything'! So, could you afford a loss of 25% of your investment all because of poor timing???
This last up cycle was 10 years in many parts of the country. The downcycle now started in CA, Wash DC, NYC, Vegas and other hot areas of the past are all soft and getting softer.
From 1990 to 1996, the average home in San Diego lost 20% of its' value! The cycle we are now enterng looks like it could well exceed that on the downside!
With all the 100% financing, interest only loans, EZ qualifing etc...even a slight decline will cause many to be unable to sell for the amount due on their loans!
For some great 'insider' articles on the San Diego real estate market, which I believe will apply to any of the hot real estate markets of the past five years.....visit:
http://www.brokerforyou.com/brokerforyou
http://www.downtown-san-diego-real-estate.com/san-diego-real-estate-article-index.htm
http://www.brokerforyou.com
http://www.san-diego-for-sale-by-owner.com
http://www.la-jolla-ca-del-mar-san-diego-real-estate-encinitas-california.us
http://www.brokerforyou.com/blogger/index.html
http://san-diego-coastal-real-estate.blogspot.com
http://sandiegofsbo.blogspot.com
http://downtown-san-diego-real-estate-views.blogspot.com
http://san-diego-coastal-real-estate.blogspot.com
http://sandiegofsbo.blogspot.com
http://downtown-san-diego-real-estate-views.blogspot.com
http://www.poway-real-estate.info
http://www.del-mar-real-estate.info
http://www.la-jolla-real-estate.info
http://www.los-angeles-real-estate-brokers.com
http://www.san-jose-real-estate-brokers.com
http://www.orange-county-real-estate-brokers.com
http://www.san-francisco-real-estate-brokers.com
http://www.sacramento-real-estate-broker.com |
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Nick R
 |
I would not look for that to happen.
The media would have you believe we are going back to the stone age.
The media is the cancer in our society. They spread gloom and doom everyday. They would love to report "The world is destroyed", and they will continue to work toward that end. |
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Searchlight Crusade
|
Well, the market is overheated and inventory is rising and rates have risen and are expected to rise some more, meaning that the same payment buys less house. Furthermore, there's only so much that the scum who sell Option ARMs can do, and only for so long. I suspect that the sellers are going to have to start settling for for less. But 20% less in Orange County, which has a lot of factors holding it up (perceived desirability, part of a much larger economic area, etcetera)? I don't know. It's probably going to hold up better than anywhere else in Southern California. |
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Christine
 |
20%???? Never. Even though the housing market has cooled, unless the area gets hit by the "Big One" and it's bad (even then it would be doubtful unless it fell into the ocean!), I wouldn't see it lowering anywhere near that amount. |
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