Market Update

[quote author="RoLar_USC" date=1256732585]Are people still sticking to the surge of inventory theory or has it dead yet?</blockquote>


What you don't know won't hurt you. Carry on.
 
[quote author="graphrix" date=1256735533][quote author="RoLar_USC" date=1256732585]Are people still sticking to the surge of inventory theory or has it dead yet?</blockquote>


What you don't know won't hurt you. Carry on.</blockquote>


At some point, if this continues, some people will have to start admitting when they're wrong. I won't have a problem admitting it if I'm wrong.
 
RoLar, if you want to make your data more accurate...take out the short sales active listings and take out the short sales in escrow. The issue at hand in the real estate market in Orange County and even Vegas and Phoenix is the lack of REAL inventory (non-short sale inventory). I'll be very curious to how what happens when the tax credit expires and the stock market takes a 10%+ tumble. No doubt that the current market has turned into a seller's market due to this lack of inventory (for example, there is only about 3-months worth of inventory in Irvine).
 
[quote author="RoLar_USC" date=1256736209][quote author="graphrix" date=1256735533][quote author="RoLar_USC" date=1256732585]Are people still sticking to the surge of inventory theory or has it dead yet?</blockquote>


What you don't know won't hurt you. Carry on.</blockquote>


At some point, if this continues, some people will have to start admitting when they're wrong. I won't have a problem admitting it if I'm wrong.</blockquote>


I will admit I am wrong when I am wrong. What I know, that you don't, or don't want to see, proves that I am not wrong yet. It's okay, you live for today, I live for tomorrow or one step ahead.
 
[quote author="USCTrojanCPA" date=1256736273]The issue at hand in the real estate market in Orange County and even Vegas and Phoenix is the lack of REAL inventory (non-short sale inventory).</blockquote>


This is exactly correct. There is exactly one home for sale in my neighborhood - and it's a short sale. Meanwhile, seven of the eight vacant 'phantom inventory' homes remain vacant and phantom. The last time I saw it like this was 2004 - except in 2004 there wasn't the seven phantom inventory homes. One guy on my street has an auction scheduled for this week and apparently hasn't paid a penny in 20 months.



There ain't much around right now to buy, but there sure looks like theres some stuff somebody will eventually have to move.
 
[quote author="no_vaseline" date=1256757764][quote author="USCTrojanCPA" date=1256736273]The issue at hand in the real estate market in Orange County and even Vegas and Phoenix is the lack of REAL inventory (non-short sale inventory).</blockquote>


This is exactly correct. There is exactly one home for sale in my neighborhood - and it's a short sale. Meanwhile, seven of the eight vacant 'phantom inventory' homes remain vacant and phantom. The last time I saw it like this was 2004 - except in 2004 there wasn't the seven phantom inventory homes. One guy on my street has an auction scheduled for this week and apparently hasn't paid a penny in 20 months.



There ain't much around right now to buy, but there sure looks like theres some stuff somebody will eventually have to move.</blockquote>


It's easy to stay in a home while not paying your mortgage for 12-16 months, but 20 months takes talent. There's so much legal tape that the homeowner can delay the foreclosure well over a year. Now, you say that they are vacant? The only explaination for that is that the owner has multiple properties and he is living in another. But, I am surprised that there are that many vacant properties in your neighborhood.
 
<strong>Market Update 11/2/2009</strong>

<a href="http://occoastalnews.com/?p=845"><img class="aligncenter size-full wp-image-711" title="Combo" src="http://occoastalnews.com/wp-content/uploads/2009/11/11-2-2009.jpg" alt="Combo" width="800" height="449" /></a>

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<strong>Market Update 11/9/2009</strong>

<a href="http://occoastalnews.com/?p=856"><img class="aligncenter size-full wp-image-711" title="Combo" src="http://occoastalnews.com/wp-content/uploads/2009/11/11-9-2009.jpg" alt="Combo" width="800" height="449" /></a>

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Going on 61.7% total In Escrow vs. Active, with escrows still increasing.
 
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