San Diego real estate investors . . . ‘Know when to fold them’
By Bob Schwartz, CRS, GRI ©2006 www.brokerforyou.com All rights reserved.
The Commerce Department reported Monday that sales of new single-family homes dropped by 5 percent to a seasonally adjusted annual rate of 1.233 million units last month.
More importantly, this is the second time in three months that housing sales have dropped! This 5 percent drop was under the 7 percent November drop.
Another important fact that this report showed was a 5.2 month supply of new homes in January. This is up 2.5 percent from the December ’05 figures and an astounding 20 percent from the same figures one year ago (January ’05)!
AbOUT THE AUTHOR Bob Schwartz, is a Certified Residential Specialist, and a CA licensed San Diego real estate broker with. Bob has over 27 years of residential real estate experience, authored a number of published articles and served as an expert witness for San Diego lawyers. You can contact Bob via his highly popular San Diego real estate website.---This work is protected under copyright and may not be published in other works without express written permission from Promotions Unlimited or the following procedures are implemented: Please feel free to publish this article (as long as no changes are made (all hyper-links to remain and not be modified in any way) and the author's name and site URL's are retained) in your ezine, newsletter, offline publication or website. A copy would be appreciated at seo711@gamil.com
Tuesday, February 28, 2006
New Home Buyer are Backing Out!
Read the excerpt below as another major news organization reports the FACTS! …..
By Chris Isidore, CNNMoney.com senior writerFebruary 24, 2006: 2:49 PM ESTNEW YORK (CNNMoney.com) - Home builders are growing concerned about an increasing number of cancelled new home orders, which experts say could be a sign of an underlying weakness in the recent run in home prices.
Specifically, the cancelled orders could be the latest warning sign that buyers who were turning to real estate as an investment, rather than for their own housing needs, are shifting out of real estate. And that could mean that in many hot markets, the air is about to come out of over-inflated real home prices overall.
AbOUT THE AUTHOR Bob Schwartz, is a Certified Residential Specialist, and a CA licensed San Diego real estate broker with. Bob has over 27 years of residential real estate experience, authored a number of published articles and served as an expert witness for San Diego lawyers. You can contact Bob via his highly popular San Diego real estate website.---This work is protected under copyright and may not be published in other works without express written permission from Promotions Unlimited or the following procedures are implemented: Please feel free to publish this article (as long as no changes are made (all hyper-links to remain and not be modified in any way) and the author's name and site URL's are retained) in your ezine, newsletter, offline publication or website. A copy would be appreciated at seo711@gamil.com
By Chris Isidore, CNNMoney.com senior writerFebruary 24, 2006: 2:49 PM ESTNEW YORK (CNNMoney.com) - Home builders are growing concerned about an increasing number of cancelled new home orders, which experts say could be a sign of an underlying weakness in the recent run in home prices.
Specifically, the cancelled orders could be the latest warning sign that buyers who were turning to real estate as an investment, rather than for their own housing needs, are shifting out of real estate. And that could mean that in many hot markets, the air is about to come out of over-inflated real home prices overall.
AbOUT THE AUTHOR Bob Schwartz, is a Certified Residential Specialist, and a CA licensed San Diego real estate broker with. Bob has over 27 years of residential real estate experience, authored a number of published articles and served as an expert witness for San Diego lawyers. You can contact Bob via his highly popular San Diego real estate website.---This work is protected under copyright and may not be published in other works without express written permission from Promotions Unlimited or the following procedures are implemented: Please feel free to publish this article (as long as no changes are made (all hyper-links to remain and not be modified in any way) and the author's name and site URL's are retained) in your ezine, newsletter, offline publication or website. A copy would be appreciated at seo711@gamil.com
Friday, February 17, 2006
San Diego Home Sales Plunge!
Biggest San Diego Home Sales Plunge!
San Diego home sales took the largest drop ever recorded in January 2006! Sales were off 31% from December 2005! This was the lowest monthly sales since January 1998, when these records were first tracked!
From January 2005 the loss was 26.8%, and marked the seventh month in a row where home sales were lower than the year before.
Also, the sales price to list price ratio for single-family homes has also continued to fall.
For well over 18 months now I’ve been predicting a deflation cycle in San Diego. Now as the hard facts are actually showing up the ‘industry’ has changed stragerty from pooh-poohing the coming fall to now predicting a ‘short term softening’ of our market.
Believe what you will, but after a ten year spectular ride up, with the last five years actually doubling most home values, do you really believe the down side will be over in a few months? Our last down cycle in San Diego ran from approximately 1990 to 1995.
My prediction for San Diego real estate is that the downward cycle has only begun. Be sure to fasten your seatbelt.
San Diego home sales took the largest drop ever recorded in January 2006! Sales were off 31% from December 2005! This was the lowest monthly sales since January 1998, when these records were first tracked!
From January 2005 the loss was 26.8%, and marked the seventh month in a row where home sales were lower than the year before.
Also, the sales price to list price ratio for single-family homes has also continued to fall.
For well over 18 months now I’ve been predicting a deflation cycle in San Diego. Now as the hard facts are actually showing up the ‘industry’ has changed stragerty from pooh-poohing the coming fall to now predicting a ‘short term softening’ of our market.
Believe what you will, but after a ten year spectular ride up, with the last five years actually doubling most home values, do you really believe the down side will be over in a few months? Our last down cycle in San Diego ran from approximately 1990 to 1995.
My prediction for San Diego real estate is that the downward cycle has only begun. Be sure to fasten your seatbelt.
Wednesday, February 08, 2006
Pending Home Sales Index Down
Wednesday, February 01, 2006WASHINGTON,D.C. – Pending home sales continue to according to the National Association of Realtors®.
The Pending Home Sales Index,* based on contracts signed in December, was down 3.0 percent to a level of 116.4 from 120.0 in November, and is 5.5 percent below December 2004. Pending sales have trended steadily down from a record index of 129.2 last AugustThe index in the West fell 8.1 percent to 117.1 in December and was 11.8 percent lower than a year ago.
ABOUT THE AUTHOR Bob Schwartz, is a Certified Residential Specialist, and a CA licensed San Diego real estate broker You can contact Bob via e-mail at bob@brokerforyou.com or visit his highly popular San Diego real estate website. -
This work is protected under copyright and may not be published in other works without express written permission from Promotions Unlimited or the following procedures are implemented: Please feel free to publish this article (as long as no changes are made (all hyper-links to remain and not be modified in any way) and the author's name and site URL's are retained) in your ezine, newsletter, offline publication or website. A copy would be appreciated at bob@websitetrafficbuilders.com
The Pending Home Sales Index,* based on contracts signed in December, was down 3.0 percent to a level of 116.4 from 120.0 in November, and is 5.5 percent below December 2004. Pending sales have trended steadily down from a record index of 129.2 last AugustThe index in the West fell 8.1 percent to 117.1 in December and was 11.8 percent lower than a year ago.
ABOUT THE AUTHOR Bob Schwartz, is a Certified Residential Specialist, and a CA licensed San Diego real estate broker You can contact Bob via e-mail at bob@brokerforyou.com or visit his highly popular San Diego real estate website. -
This work is protected under copyright and may not be published in other works without express written permission from Promotions Unlimited or the following procedures are implemented: Please feel free to publish this article (as long as no changes are made (all hyper-links to remain and not be modified in any way) and the author's name and site URL's are retained) in your ezine, newsletter, offline publication or website. A copy would be appreciated at bob@websitetrafficbuilders.com
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