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Home Sales up 65% Southern California

aplusmnt

Well-known member
When one door closes another opens! If we leave the social engineering alone and let the market correct things, things will get corrected!


Southern California home sales up 65%

Associated Press
Published: Monday, Oct. 20, 2008

LOS ANGELES -- Southern California home sales jumped 65 percent in September from a year ago, as plummeting prices lured more buyers, a real estate tracking firm said Monday.

Last month's median home price in the six-county region fell 33.2 percent to $308,500 in the six-county region, compared to $462,000 in September 2007, San Diego-based MDA DataQuick said.

Foreclosure resales amounted to half of all transactions last month.

The sales total easily surpassed the dismal, record lows of a year ago, when a credit crunch began slamming the brakes on home financing.

"The pitifully low September 2007 sales numbers weren't tough to beat," said John Walsh, MDA DataQuick president.

Steep price declines, especially inland, have improved housing affordability and could keep sales levels well above the record lows seen late last year and early this year, he said,

However, sales will be affected by the severity of this economic downturn, he said.

The September median price stood 38.9 percent below the peak $505,000 median reached in spring and summer of last year.

A total of 20,497 new and resale houses and condos closed escrow in the region last month, up 5.8 percent from 19,366 in August and up 64.6 percent from 12,455 in September 2007.

Last month's sales were the highest for any month since December 2006 and the year-over-year gain was the highest for any month in DataQuick's statistics, which go back to 1988




http://www.sacbee.com/latest/story/1328424.html
 

fff

Well-known member
Too late to let the market work. That Socialist George W. Bush has invested government money into the banking system! And Socialist John McCain voted "yes." Oh, woe is me. :lol:
 

aplusmnt

Well-known member
fff said:
Too late to let the market work. That Socialist George W. Bush has invested government money into the banking system! And Socialist John McCain voted "yes." Oh, woe is me. :lol:

It never to late to let the market work. Only when you mess with it like Clinton did years ago does it get broken. But you drink to much kool aid to have any idea about why things really happen! :roll:
 

aplusmnt

Well-known member
fff said:
Too late to let the market work. That Socialist George W. Bush has invested government money into the banking system! And Socialist John McCain voted "yes." Oh, woe is me. :lol:

Silly Rabbit, Trix are for kids. The article above shows that it is not to late to let the Markets work they are already working! First you have a housing bust then you have a bounce back in home purchases.

But don't you worry, us positive and responsible people will fix things by buying these homes and renting them to you liberals with your hands out!
 

TSR

Well-known member
aplusmnt said:
When one door closes another opens! If we leave the social engineering alone and let the market correct things, things will get corrected!


Southern California home sales up 65%

Associated Press
Published: Monday, Oct. 20, 2008

LOS ANGELES -- Southern California home sales jumped 65 percent in September from a year ago, as plummeting prices lured more buyers, a real estate tracking firm said Monday.

Last month's median home price in the six-county region fell 33.2 percent to $308,500 in the six-county region, compared to $462,000 in September 2007, San Diego-based MDA DataQuick said.

Foreclosure resales amounted to half of all transactions last month.

The sales total easily surpassed the dismal, record lows of a year ago, when a credit crunch began slamming the brakes on home financing.

"The pitifully low September 2007 sales numbers weren't tough to beat," said John Walsh, MDA DataQuick president.

Steep price declines, especially inland, have improved housing affordability and could keep sales levels well above the record lows seen late last year and early this year, he said,

However, sales will be affected by the severity of this economic downturn, he said.

The September median price stood 38.9 percent below the peak $505,000 median reached in spring and summer of last year.

A total of 20,497 new and resale houses and condos closed escrow in the region last month, up 5.8 percent from 19,366 in August and up 64.6 percent from 12,455 in September 2007.

Last month's sales were the highest for any month since December 2006 and the year-over-year gain was the highest for any month in DataQuick's statistics, which go back to 1988




http://www.sacbee.com/latest/story/1328424.html

I hope none of these homes are being bought en masse by some of the retired ceo's who walked away with millions after the bailout of their failed companies. You know its possible maybe highly probable since they are the ones that profited the most.
 

VanC

Well-known member
fff said:
Too late to let the market work. That Socialist George W. Bush has invested government money into the banking system! And Socialist John McCain voted "yes." Oh, woe is me. :lol:

Yup. Yet another problem caused by Democrats that gets dumped in President Bush's lap. Then when he acts to try and fix it, he comes out looking like the bad guy.
 

nonothing

Well-known member
I would suspect alot more of property prices moving up in the very near future....investors are looking for alternatives to the stock market..One would think with realastate going as low as it was/is,investors will be scooping them up...Also not surprising to see California being the first...If you have a liitle money set aside and want to retire somewhere different from where you live,now is your chance to buy and rent it out till your ready to retire...Lots of oppertunity to those with strong credit and cash to back it up..Alot of good investment properties will be available...vacation poperties should be the first that folks look to sell...So that home by the lake may just be affordable soon..
 

aplusmnt

Well-known member
TSR said:
aplusmnt said:
When one door closes another opens! If we leave the social engineering alone and let the market correct things, things will get corrected!


Southern California home sales up 65%

Associated Press
Published: Monday, Oct. 20, 2008

LOS ANGELES -- Southern California home sales jumped 65 percent in September from a year ago, as plummeting prices lured more buyers, a real estate tracking firm said Monday.

Last month's median home price in the six-county region fell 33.2 percent to $308,500 in the six-county region, compared to $462,000 in September 2007, San Diego-based MDA DataQuick said.

Foreclosure resales amounted to half of all transactions last month.

The sales total easily surpassed the dismal, record lows of a year ago, when a credit crunch began slamming the brakes on home financing.

"The pitifully low September 2007 sales numbers weren't tough to beat," said John Walsh, MDA DataQuick president.

Steep price declines, especially inland, have improved housing affordability and could keep sales levels well above the record lows seen late last year and early this year, he said,

However, sales will be affected by the severity of this economic downturn, he said.

The September median price stood 38.9 percent below the peak $505,000 median reached in spring and summer of last year.

A total of 20,497 new and resale houses and condos closed escrow in the region last month, up 5.8 percent from 19,366 in August and up 64.6 percent from 12,455 in September 2007.

Last month's sales were the highest for any month since December 2006 and the year-over-year gain was the highest for any month in DataQuick's statistics, which go back to 1988




http://www.sacbee.com/latest/story/1328424.html

I hope none of these homes are being bought en masse by some of the retired ceo's who walked away with millions after the bailout of their failed companies. You know its possible maybe highly probable since they are the ones that profited the most.

I hope so, as long as they are not being bought up by people that can not afford them through some ACORN strong arming like got us into this mess!
 

aplusmnt

Well-known member
nonothing said:
I would suspect alot more of property prices moving up in the very near future....investors are looking for alternatives to the stock market..One would think with realastate going as low as it was/is,investors will be scooping them up...Also not surprising to see California being the first...If you have a liitle money set aside and want to retire somewhere different from where you live,now is your chance to buy and rent it out till your ready to retire...Lots of oppertunity to those with strong credit and cash to back it up..Alot of good investment properties will be available...vacation poperties should be the first that folks look to sell...So that home by the lake may just be affordable soon..

That is about the most reasonable and balanced post I have seen you make. I guess Bipolar has up days huh? :wink: :lol:
 

Faster horses

Well-known member
fff--you do realize don't you that this housing market crisis was CAUSED by the Dem's? It started with Carter and was accelerated by your hero, Bill Clinton. They are investigating it now and if this was something the GOP did, it would be front-page news, called HOUSEGATE or somethinsg similar. Since the libs caused it, it probably won't make the paper.

G. W. tried to enact a bill to regulate Fannie Mae, etc. but the Dem's would not pass it. You know what happens when you make RISKY loans don't you??????? What just happened is what happens.
 
A

Anonymous

Guest
Faster horses said:
fff--you do realize don't you that this housing market crisis was CAUSED by the Dem's? It started with Carter and was accelerated by your hero, Bill Clinton. They are investigating it now and if this was something the GOP did, it would be front-page news, called HOUSEGATE or somethinsg similar. Since the libs caused it, it probably won't make the paper.

G. W. tried to enact a bill to regulate Fannie Mae, etc. but the Dem's would not pass it. You know what happens when you make RISKY loans don't you??????? What just happened is what happens.

You should watch the hearings- because that is not whats coming out from the experts...Much of the problem came out because of Phil Gramm fathered (Repub Congress passed- Clinton signed) law changes (along with others)- that while removing transparency and most regulation- opened up a casino gamble of paper swapping- and took away the fact that lenders had to keep any risk in the loans they were writing-so they'd write terrible risk loans- and just swap them off into an entire system saturated by FRAUD- that wasn't caught because of the removal of transparency and oversight with deregulation...Even deregulator Greenspan admitted he was wrong in supporting that deregulation push...

Interestingly it was pretty much the concensus of those testifying- that no matter how much taxpayer money is thrown into the fray- the credit freeze and the lack of confidence in the markets won't loosen up or change until the US adopts transparency and regulatory laws equal to or greater than those the European countries are putting in...
 

aplusmnt

Well-known member
Oldtimer said:
You should watch the hearings- because that is not whats coming out from the experts...Much of the problem came out because of Phil Gramm fathered (Repub Congress passed- Clinton signed) law changes (along with others)-

If you want to blame Bush now for everything then you have to place the Blame then on Clinton not Gramm.......come on be fair!

Besides that bill passed almost unanimously once it came out of committee. So no reason to try to use smoke and mirrors by mentioning the Republican "Congress.........almost every Democratic Senator voted yea for the final Bill that passed! So almost every Democratic Senator and the Democratic President passed Gramm's bill.

Besides where does the buck stop? With Bush it stops at the Presidency, but with Clinton you are saying it stops with Gramm????? Give me a break CB!
 

TexasBred

Well-known member
fff said:
Too late to let the market work. That Socialist George W. Bush has invested government money into the banking system! And Socialist John McCain voted "yes." Oh, woe is me. :lol:

You idiot. Did anything in this post say they were buying from the government at discounted prices?? Fact is that the houses are now being marketed at realistic values and that's what good, hard working, bill paying people have been looking for. Something THEY COULD AFFORD.
 

TexasBred

Well-known member
TSR said:
aplusmnt said:
When one door closes another opens! If we leave the social engineering alone and let the market correct things, things will get corrected!


Southern California home sales up 65%

Associated Press
Published: Monday, Oct. 20, 2008

LOS ANGELES -- Southern California home sales jumped 65 percent in September from a year ago, as plummeting prices lured more buyers, a real estate tracking firm said Monday.

Last month's median home price in the six-county region fell 33.2 percent to $308,500 in the six-county region, compared to $462,000 in September 2007, San Diego-based MDA DataQuick said.

Foreclosure resales amounted to half of all transactions last month.

The sales total easily surpassed the dismal, record lows of a year ago, when a credit crunch began slamming the brakes on home financing.

"The pitifully low September 2007 sales numbers weren't tough to beat," said John Walsh, MDA DataQuick president.

Steep price declines, especially inland, have improved housing affordability and could keep sales levels well above the record lows seen late last year and early this year, he said,

However, sales will be affected by the severity of this economic downturn, he said.

The September median price stood 38.9 percent below the peak $505,000 median reached in spring and summer of last year.

A total of 20,497 new and resale houses and condos closed escrow in the region last month, up 5.8 percent from 19,366 in August and up 64.6 percent from 12,455 in September 2007.

Last month's sales were the highest for any month since December 2006 and the year-over-year gain was the highest for any month in DataQuick's statistics, which go back to 1988




http://www.sacbee.com/latest/story/1328424.html

I hope none of these homes are being bought en masse by some of the retired ceo's who walked away with millions after the bailout of their failed companies. You know its possible maybe highly probable since they are the ones that profited the most.

Is there something wrong with this if they pay "asking price"???? Seems to be the american way. Amazing that those that can DO...yet those that can't blame it on those who can.
 

TexasBred

Well-known member
nonothing said:
I would suspect alot more of property prices moving up in the very near future....investors are looking for alternatives to the stock market..One would think with realastate going as low as it was/is,investors will be scooping them up...Also not surprising to see California being the first...If you have a liitle money set aside and want to retire somewhere different from where you live,now is your chance to buy and rent it out till your ready to retire...Lots of oppertunity to those with strong credit and cash to back it up..Alot of good investment properties will be available...vacation poperties should be the first that folks look to sell...So that home by the lake may just be affordable soon..

Nonothing, we finally agree on something. Good post. When buyers and sellers can agree on a realistic price, merchandise moves. What the buyer plans to do with the property doesn't even come into the equation. Fact is they want to buy, you sell, you make money and hopefully the buyer will as well.
 

TexasBred

Well-known member
Oldtimer said:
Faster horses said:
fff--you do realize don't you that this housing market crisis was CAUSED by the Dem's? It started with Carter and was accelerated by your hero, Bill Clinton. They are investigating it now and if this was something the GOP did, it would be front-page news, called HOUSEGATE or somethinsg similar. Since the libs caused it, it probably won't make the paper.

G. W. tried to enact a bill to regulate Fannie Mae, etc. but the Dem's would not pass it. You know what happens when you make RISKY loans don't you??????? What just happened is what happens.

You should watch the hearings- because that is not whats coming out from the experts...Much of the problem came out because of Phil Gramm fathered (Repub Congress passed- Clinton signed) law changes (along with others)- that while removing transparency and most regulation- opened up a casino gamble of paper swapping- and took away the fact that lenders had to keep any risk in the loans they were writing-so they'd write terrible risk loans- and just swap them off into an entire system saturated by FRAUD- that wasn't caught because of the removal of transparency and oversight with deregulation...Even deregulator Greenspan admitted he was wrong in supporting that deregulation push...

Interestingly it was pretty much the concensus of those testifying- that no matter how much taxpayer money is thrown into the fray- the credit freeze and the lack of confidence in the markets won't loosen up or change until the US adopts transparency and regulatory laws equal to or greater than those the European countries are putting in...

OT, this has also proved that no matter how much regulation and oversight you have in a program there are always those they know how and do get around it.....for a time anyway. As Greenspan said, historically both WE and the government have expected honesty in the management of financial institutions and expected CEO's and boards of directors to execute their fiduciary responsibilities prudently and not do anything that would harm stockholders. We now have a breed of people in the industry who are strictly self serving and like most crooks feel like they can pocket enough before they get caught that it's worth the risk.
 
A

Anonymous

Guest
TexasBred said:
Oldtimer said:
Faster horses said:
fff--you do realize don't you that this housing market crisis was CAUSED by the Dem's? It started with Carter and was accelerated by your hero, Bill Clinton. They are investigating it now and if this was something the GOP did, it would be front-page news, called HOUSEGATE or somethinsg similar. Since the libs caused it, it probably won't make the paper.

G. W. tried to enact a bill to regulate Fannie Mae, etc. but the Dem's would not pass it. You know what happens when you make RISKY loans don't you??????? What just happened is what happens.

You should watch the hearings- because that is not whats coming out from the experts...Much of the problem came out because of Phil Gramm fathered (Repub Congress passed- Clinton signed) law changes (along with others)- that while removing transparency and most regulation- opened up a casino gamble of paper swapping- and took away the fact that lenders had to keep any risk in the loans they were writing-so they'd write terrible risk loans- and just swap them off into an entire system saturated by FRAUD- that wasn't caught because of the removal of transparency and oversight with deregulation...Even deregulator Greenspan admitted he was wrong in supporting that deregulation push...

Interestingly it was pretty much the concensus of those testifying- that no matter how much taxpayer money is thrown into the fray- the credit freeze and the lack of confidence in the markets won't loosen up or change until the US adopts transparency and regulatory laws equal to or greater than those the European countries are putting in...

OT, this has also proved that no matter how much regulation and oversight you have in a program there are always those they know how and do get around it.....for a time anyway. As Greenspan said, historically both WE and the government have expected honesty in the management of financial institutions and expected CEO's and boards of directors to execute their fiduciary responsibilities prudently and not do anything that would harm stockholders. We now have a breed of people in the industry who are strictly self serving and like most crooks feel like they can pocket enough before they get caught that it's worth the risk.

Yep thats fundamentally what he said-- and what I've been saying for years- that most the folks in the banking/lending/business world have lost all morals and ethics especially as iintegration and monoplization get bigger...
The first things taught in Business 101 class anymore seems to be Fraud, deceit, deception, lying and Loopholes, grey areas, and that its alright to screw anyone or everyone if its in the name of a fast dollar...

One sad thing I heard in the hearings was altho everyone believes it is/was FRAUD for these CEO's and administrators (aided by rating companies) to purposely hide or lie about their financial situation to companies trading with them and their own shareholders--BUT it may not be a convictable CRIME under current laws and regulations.... :???: :(
 

TexasBred

Well-known member
OT...and that hurts...really hurts. If it were me or you we'd already be in jail and our family out on the street or arrested as accomplices. Good post. :D :wink:
 

TSR

Well-known member
aplusmnt said:
Oldtimer said:
You should watch the hearings- because that is not whats coming out from the experts...Much of the problem came out because of Phil Gramm fathered (Repub Congress passed- Clinton signed) law changes (along with others)-

If you want to blame Bush now for everything then you have to place the Blame then on Clinton not Gramm.......come on be fair!

Besides that bill passed almost unanimously once it came out of committee. So no reason to try to use smoke and mirrors by mentioning the Republican "Congress.........almost every Democratic Senator voted yea for the final Bill that passed! So almost every Democratic Senator and the Democratic President passed Gramm's bill.

Besides where does the buck stop? With Bush it stops at the Presidency, but with Clinton you are saying it stops with Gramm????? Give me a break CB!

You have it a little bit backwards there Aplus every Democrat in the Senate except for 1 voted against the bill every Republican voted for it.
 
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