I'd say what's best for your family is to not overpay for one of the biggest purchases of your life. Are you cool with spending $443K on something that's likely to be worth $100 grand less in the next few years? That kind of money could pay for a couple college educations down the road. Think...
From what I've seen on craiglist recently there is definitely some price softening at IAC complexes. I'm seeing lots of one beds under 1450 and two beds under 1800. Last year those prices would have been hard to find.
We will know one way or the other whether Thomas?s numbers mean much when the sales data and CS price indexes for this spring come out in a few months.
I just hope they aren't planning to wait for real 2006 home prices to come back. Donald Bren and most of the other private investors who own TIC will be dead and buried long before that happens.
Irvine_Kat, please keep researching the current status of the housing market and think carefully about whether now is a good time to buy. These guys are all right... you can rent something very nice for a lot less and get a much better deal on your purchase if you can wait it out a year or two...
<p>So far you are on the right track. Their best prices are on craigslist. They seem to be doing some sort of price differentiation based on what they perceive to be "internet savvy." Might as well take advantage.</p>
<p>If you really want to get the absolute best deal possible you should wait...
<p>If your parents happen to make less than $100K, tuition at Stanford is now <a href="http://www.paloaltoonline.com/news/show_story.php?id=7210">free</a>.</p>
Good stuff. It would be very cool to see something like this happen, but unfortunately Nude is right on. We still wouldn't find the bottom rapidly, because there is still a critical mass of douchebags out there who think prices are going to be higher in the near future then they are now. People...
Ipop, do you know if Steve's numbers are archived anywhere? It would be interesting to hold those numbers up next to the various prices indices and see if we could spot any correlation.
My last lease renewal offer letter also came in about $200 above the prices I was seeing advertised on Craigslist for the same floor plan. I wasn't able to negotiate all the difference away, but they met me more than half way. Be polite but firm, and they will work with you.
<em>"Months inventory gone from 15.6 months to 8.46 in less than two months?"
</em>Is the number seasonal? It was less than 5 this time last year. Did prices go up in 2007? Will prices go up in 2008 if months of inventory is 70% higher than last year?
There seems to be some sort of seasonal effect at work with the high end listings. Around this same time last year we went from $899,580 in Jan to $929,000 in March, only to resume the steady decline and end the year around $800,000.
Only a 3.1% drop <a href="http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_csmahp/0,0,0,0,0,0,0,0,0,1,1,0,0,0,0,0.html">this month</a>.
That's 11.1% over the last six months.
And check out our <a...