Saturday, September 16, 2006

Sacramento: 2006-09-16 Part I

Sorry about the ads, guys. This blog is rather time consuming, so I'm trying to get back a little something so I can keep it up. I figure Google Ads are easier than asking for donations. Update 2006-09-17: I added some new links to the Sacramento County listings. Enjoy!

5330 Agate Way
Carmichael, CA 95608
Total Loss: $130,050Percent Loss: 20.8%
Asking Price: $494,950
Bedrooms:2    Baths: 1    Sq. feet:2000

Previous Sales:
Sold on 2004-11-15 for $625,000

MLS# 60057353      Google Maps



5412 Ravine Creek Way
Elk Grove, CA 95758
Total Loss: $127,000Percent Loss: 24.5%
Asking Price: $392,000
Bedrooms:4    Baths: 3    Sq. feet:2267

Asking Price Changes:
Down 7.3% from $422,650 On 07-15
Down 2.7% from $402,900 On 08-26

Previous Sales:
Sold on 2005-05-17 for $410,000
Sold on 2005-09-27 for $519,000

MLS# 60077522      Google Maps
Assessed Value       Property Tax Bill



12045 Mandolin Way
Rancho Cordova, CA 95742
Total Loss: $119,000Percent Loss: 17.3%
Asking Price: $570,000
Bedrooms:5    Baths: 3    Sq. feet:2821

Asking Price Changes:
Down 18.0% from $695,000 On 04-09
Down 13.6% from $660,000 On 06-01
Down 4.2% from $595,000 On 07-15

Previous Sales:
Sold on 2006-02-16 for $689,000

MLS# 60017236      Google Maps
Assessed Value       Property Tax Bill



7217 Pine Grove Way
Folsom, CA 95630
Total Loss: $115,000Percent Loss: 15.0%
Asking Price: $650,000
Bedrooms:4    Baths: 3    Sq. feet:3254

Asking Price Changes:
Down 6.9% from $698,000 On 09-02

Previous Sales:
Sold on 2006-03-01 for $765,000

MLS# 60099754      Google Maps



8756 Rubystone Ct
Elk Grove, CA 95624
Total Loss: $110,000Percent Loss: 20.2%
Asking Price: $435,000
Bedrooms:3    Baths: 2    Sq. feet:1900

Asking Price Changes:
Down 2.2% from $445,000 On 07-28

Previous Sales:
Sold on 2005-12-02 for $545,000

MLS# 60083355      Google Maps
Assessed Value       Property Tax Bill



9308 Engleside Ct
Elk Grove, CA 95758
Total Loss: $107,500Percent Loss: 19.1%
Asking Price: $455,000
Bedrooms:4    Baths: 3    Sq. feet:2126

Asking Price Changes:
Down 16.1% from $542,000 On 06-16
Down 11.7% from $515,000 On 07-15
Down 6.2% from $485,000 On 08-14
Down 4.2% from $475,000 On 09-02

Previous Sales:
Sold on 2005-08-15 for $562,500

MLS# 60064506      Google Maps
Assessed Value       Property Tax Bill



104 Herrill Ct
Folsom, CA 95630
Total Loss: $104,600Percent Loss: 20.3%
Asking Price: $409,900
Bedrooms:3    Baths: 2    Sq. feet:1913

Asking Price Changes:
Down 9.9% from $454,900 On 07-22

Previous Sales:
Sold on 2005-10-07 for $514,500

MLS# 60079635      Google Maps
Assessed Value       Property Tax Bill



2821 Babson Dr
Elk Grove, CA 95758
Total Loss: $95,100Percent Loss: 19.2%
Asking Price: $399,900
Bedrooms:4    Baths: 2    Sq. feet:1864

Previous Sales:
Sold on 2005-09-09 for $495,000

MLS# 60095708      Google Maps
Assessed Value       Property Tax Bill



4211 Brookfield Dr
Sacramento, CA 95823
Total Loss: $90,100Percent Loss: 36.0%
Asking Price: $159,900
Bedrooms:2    Baths: 1    Sq. feet:1116

Asking Price Changes:
Down 11.1% from $179,900 On 04-09
Down 8.6% from $174,900 On 05-20
Down 5.9% from $169,900 On 06-01
Down 3.0% from $164,900 On 06-30

Previous Sales:
Sold on 2004-08-03 for $76,000
Sold on 2004-10-28 for $250,000

MLS# 60032425      Google Maps
Assessed Value       Property Tax Bill



2010 Bonavista Way
Sacramento, CA 95832
Total Loss: $80,100Percent Loss: 19.5%
Asking Price: $329,900
Bedrooms:3    Baths: 2    Sq. feet:1638

Asking Price Changes:
Down 8.1% from $359,000 On 04-27

Previous Sales:
Sold on 2004-04-19 for $263,500
Sold on 2005-05-31 for $410,000

MLS# 60041760      Google Maps
Assessed Value       Property Tax Bill



5220 Mckellar Ave
Sacramento, CA 95824
Total Loss: $75,050Percent Loss: 30.6%
Asking Price: $169,950
Bedrooms:2    Baths: 1    Sq. feet:708

Asking Price Changes:
Down 19.1% from $209,950 On 09-02
Down 10.5% from $189,950 On 09-09

Previous Sales:
Sold on 2005-07-15 for $245,000

MLS# 60099834      Google Maps
Assessed Value       Property Tax Bill



6829 Fruitridge Rd
Sacramento, CA 95820
Total Loss: $70,000Percent Loss: 20.6%
Asking Price: $270,000
Bedrooms:5    Baths: 2    Sq. feet:1843

Asking Price Changes:
Down 10.0% from $300,000 On 06-22

Previous Sales:
Sold on 2005-03-16 for $340,000

MLS# 60067432      Google Maps
Assessed Value       Property Tax Bill



3930 Balverne Ct
Antelope, CA 95843
Total Loss: $67,000Percent Loss: 15.7%
Asking Price: $359,000
Bedrooms:3    Baths: 2    Sq. feet:1893

Asking Price Changes:
Down 10.2% from $399,900 On 08-05

Previous Sales:
Sold on 2005-04-27 for $426,000

MLS# 60086685      Google Maps
Assessed Value       Property Tax Bill



3320 9th Ave
Sacramento, CA 95817
Total Loss: $65,100Percent Loss: 26.0%
Asking Price: $184,900
Bedrooms:2    Baths: 1    Sq. feet:936

Asking Price Changes:
Down 26.0% from $250,000 On 04-09
Down 14.0% from $214,900 On 06-16
Down 7.5% from $199,900 On 07-22
Down 2.6% from $189,900 On 08-14

Previous Sales:
Sold on 2005-06-30 for $250,000

MLS# 60065882      Google Maps



2713 16th St
Sacramento, CA 95818
Total Loss: $65,000Percent Loss: 13.3%
Asking Price: $425,000
Bedrooms:3    Baths: 1    Sq. feet:1168

Asking Price Changes:
Down 10.7% from $475,900 On 04-27
Down 7.1% from $457,500 On 06-09
Down 2.3% from $435,000 On 08-05

Previous Sales:
Sold on 2004-10-18 for $85,000
Sold on 2005-03-01 for $490,000

MLS# 60102174      Google Maps
Assessed Value       Property Tax Bill



6801 Grant Ave
Carmichael, CA 95608
Total Loss: $64,000Percent Loss: 16.5%
Asking Price: $325,000
Bedrooms:3    Baths: 2    Sq. feet:1240

Asking Price Changes:
Down 11.0% from $365,000 On 05-12

Previous Sales:
Sold on 2005-09-23 for $389,000

MLS# 60049963      Google Maps
Assessed Value       Property Tax Bill



6641 Rio Linda Blvd
Rio Linda, CA 95673
Total Loss: $62,000Percent Loss: 22.0%
Asking Price: $220,000
Bedrooms:3    Baths: 1    Sq. feet:897

Asking Price Changes:
Down 28.8% from $309,000 On 04-09
Down 27.6% from $304,000 On 04-15
Down 26.4% from $299,000 On 04-27
Down 12.0% from $250,000 On 08-05

Previous Sales:
Sold on 2005-06-30 for $282,000

MLS# 60083482      Google Maps
Assessed Value       Property Tax Bill



3311 Franklin Blvd
Sacramento, CA 95818
Total Loss: $61,000Percent Loss: 15.3%
Asking Price: $339,000
Bedrooms:4    Baths: 2    Sq. feet:1509

Previous Sales:
Sold on 2004-07-26 for $272,000
Sold on 2006-02-17 for $400,000

MLS# 60003190      Google Maps
Assessed Value       Property Tax Bill



8013 Hartwick Way
Sacramento, CA 95828
Total Loss: $60,100Percent Loss: 18.5%
Asking Price: $264,900
Bedrooms:4    Baths: 2    Sq. feet:1427

Asking Price Changes:
Down 26.4% from $360,000 On 04-09
Down 22.1% from $340,000 On 05-12
Down 3.7% from $275,000 On 08-05

Previous Sales:
Sold on 2005-05-10 for $325,000

MLS# 60070994      Google Maps
Assessed Value       Property Tax Bill



6549 RIO OSO Dr
Rancho Murieta, CA 95683
Total Loss: $60,000Percent Loss: 8.8%
Asking Price: $625,000
Bedrooms:3    Baths: 2    Sq. feet:2785

Asking Price Changes:
Down 2.3% from $640,000 On 05-18

Previous Sales:
Sold on 2003-12-17 for $548,000
Sold on 2005-04-04 for $685,000

MLS# 60051343      Google Maps
Assessed Value       Property Tax Bill



9682 Alta Mesa Rd
Wilton, CA 95693
Total Loss: $59,500Percent Loss: 6.9%
Asking Price: $799,000
Bedrooms:6    Baths: 3    Sq. feet:3363

Asking Price Changes:
Down 11.2% from $899,500 On 05-20
Down 0.7% from $804,900 On 07-08

Previous Sales:
Sold on 2005-03-16 for $858,500

MLS# 60053175      Google Maps
Assessed Value       Property Tax Bill



5 Northwich Ct
Sacramento, CA 95832
Total Loss: $59,000Percent Loss: 14.1%
Asking Price: $360,000
Bedrooms:3    Baths: 2    Sq. feet:1536

Previous Sales:
Sold on 2005-12-16 for $419,000

MLS# 60088796      Google Maps
Assessed Value       Property Tax Bill



2057 Danvers Way
Sacramento, CA 95832
Total Loss: $58,000Percent Loss: 14.2%
Asking Price: $350,000
Bedrooms:3    Baths: 2    Sq. feet:1662

Previous Sales:
Sold on 2004-12-15 for $332,000
Sold on 2005-08-12 for $408,000

MLS# 60104931      Google Maps
Assessed Value       Property Tax Bill



2085 Edgewater Rd
Sacramento, CA 95815
Total Loss: $57,000Percent Loss: 12.5%
Asking Price: $399,000
Bedrooms:3    Baths: 2    Sq. feet:2213

Asking Price Changes:
Down 16.7% from $479,000 On 04-09
Down 11.2% from $449,500 On 04-27
Down 6.1% from $424,900 On 07-22

Previous Sales:
Sold on 2005-08-12 for $456,000

MLS# 60087842      Google Maps
Assessed Value       Property Tax Bill



5046 53rd Ave
Sacramento, CA 95823
Total Loss: $56,100Percent Loss: 18.8%
Asking Price: $242,900
Bedrooms:3    Baths: 2    Sq. feet:1164

Previous Sales:
Sold on 2005-06-21 for $299,000

MLS# 60088558      Google Maps



3337 Mas Amilos Way
Sacramento, CA 95835
Total Loss: $56,000Percent Loss: 11.5%
Asking Price: $429,000
Bedrooms:4    Baths: 2    Sq. feet:2078

Asking Price Changes:
Down 19.1% from $530,000 On 06-09
Down 12.4% from $490,000 On 07-22
Down 6.7% from $460,000 On 08-19
Down 1.4% from $435,000 On 09-09

Previous Sales:
Sold on 2005-04-19 for $415,500
Sold on 2005-10-11 for $485,000

MLS# 60079721      Google Maps
Assessed Value       Property Tax Bill



5026 Creek View Way
Sacramento, CA 95841
Total Loss: $55,000Percent Loss: 13.1%
Asking Price: $365,000
Bedrooms:4    Baths: 2    Sq. feet:1904

Previous Sales:
Sold on 2005-07-08 for $320,000
Sold on 2006-03-02 for $420,000

MLS# 60095216      Google Maps
Assessed Value       Property Tax Bill



5855 13th St
Sacramento, CA 95822
Total Loss: $53,050Percent Loss: 10.3%
Asking Price: $459,950
Bedrooms:3    Baths: 2    Sq. feet:1907

Asking Price Changes:
Down 8.0% from $499,950 On 06-01

Previous Sales:
Sold on 2005-09-29 for $513,000

MLS# 60057500      Google Maps
Assessed Value       Property Tax Bill



2731 Gunn Rd
Carmichael, CA 95608
Total Loss: $51,500Percent Loss: 11.4%
Asking Price: $399,000
Bedrooms:3    Baths: 3    Sq. feet:1986

Previous Sales:
Sold on 2004-05-21 for $40,000
Sold on 2005-02-16 for $351,000
Sold on 2006-03-10 for $450,500

MLS# 60101140      Google Maps
Assessed Value       Property Tax Bill



79 Aiken Way
Sacramento, CA 95819
Total Loss: $51,000Percent Loss: 6.8%
Asking Price: $699,000
Bedrooms:5    Baths: 3    Sq. feet:2977

Previous Sales:
Sold on 2004-10-05 for $350,000
Sold on 2006-03-02 for $750,000

MLS# 50105178      Google Maps



4229 Alan Dr
North Highlands, CA 95660
Total Loss: $50,100Percent Loss: 16.2%
Asking Price: $259,900
Bedrooms:3    Baths: 1    Sq. feet:1013

Previous Sales:
Sold on 2004-07-27 for $228,000
Sold on 2005-09-15 for $310,000

MLS# 60091030      Google Maps



6564 Narrowgauge Way
Sacramento, CA 95823
Total Loss: $50,000Percent Loss: 13.7%
Asking Price: $315,000
Bedrooms:4    Baths: 2    Sq. feet:1542

Previous Sales:
Sold on 2005-05-31 for $365,000

MLS# 60103714      Google Maps
Assessed Value       Property Tax Bill



7613 Muschetto Ct
Citrus Heights, CA 95621
Total Loss: $48,100Percent Loss: 14.0%
Asking Price: $294,900
Bedrooms:3    Baths: 2    Sq. feet:1316

Asking Price Changes:
Down 20.1% from $369,000 On 08-19
Down 8.7% from $323,000 On 08-26
Down 1.7% from $299,900 On 09-02

Previous Sales:
Sold on 2005-05-13 for $343,000

MLS# 60094297      Google Maps
Assessed Value       Property Tax Bill



2925 Babson Dr
Elk Grove, CA 95758
Total Loss: $47,500Percent Loss: 10.6%
Asking Price: $400,000
Bedrooms:3    Baths: 3    Sq. feet:1735

Asking Price Changes:
Down 15.0% from $470,809 On 07-08
Down 11.1% from $450,000 On 07-22
Down 4.8% from $420,000 On 08-05
Down 2.4% from $410,000 On 09-02

Previous Sales:
Sold on 2005-03-31 for $447,500

MLS# 60075599      Google Maps
Assessed Value       Property Tax Bill



4815 Crest Dr
Sacramento, CA 95835
Total Loss: $47,100Percent Loss: 9.5%
Asking Price: $447,900
Bedrooms:3    Baths: 2    Sq. feet:2114

Asking Price Changes:
Down 4.7% from $469,900 On 06-22
Down 3.2% from $462,900 On 07-15
Down 1.5% from $454,900 On 08-05

Previous Sales:
Sold on 2005-06-06 for $495,000

MLS# 60068901      Google Maps
Assessed Value       Property Tax Bill



1809 Verano St
Sacramento, CA 95838
Total Loss: $46,100Percent Loss: 14.4%
Asking Price: $274,900
Bedrooms:3    Baths: 2    Sq. feet:1128

Asking Price Changes:
Down 8.3% from $299,900 On 07-15
Down 3.5% from $284,900 On 08-19

Previous Sales:
Sold on 2005-05-17 for $321,000

MLS# 60078906      Google Maps
Assessed Value       Property Tax Bill



5975 Laguna Ranch Cir
Sacramento, CA 95823
Total Loss: $45,100Percent Loss: 11.4%
Asking Price: $349,900
Bedrooms:4    Baths: 2    Sq. feet:1935

Asking Price Changes:
Down 14.6% from $409,900 On 07-08
Down 7.9% from $379,900 On 08-05

Previous Sales:
Sold on 2003-09-30 for $285,000
Sold on 2005-05-31 for $395,000

MLS# 60074958      Google Maps
Assessed Value       Property Tax Bill



8817 Amberjack Way
Sacramento, CA 95828
Total Loss: $45,000Percent Loss: 9.2%
Asking Price: $445,000
Bedrooms:5    Baths: 2    Sq. feet:2504

Asking Price Changes:
Down 2.2% from $455,000 On 07-28

Previous Sales:
Sold on 2005-12-13 for $490,000

MLS# 60080382      Google Maps
Assessed Value       Property Tax Bill



942 Blackwell Way
Galt, CA 95632
Total Loss: $41,000Percent Loss: 9.3%
Asking Price: $399,000
Bedrooms:3    Baths: 2    Sq. feet:1691

Asking Price Changes:
Down 12.3% from $454,900 On 06-09
Down 11.3% from $449,900 On 06-30
Down 9.3% from $439,950 On 07-15
Down 9.3% from $439,850 On 08-05

Previous Sales:
Sold on 2005-06-14 for $440,000

MLS# 60087174      Google Maps
Assessed Value       Property Tax Bill



8409 Bloomington Dr
Sacramento, CA 95828
Total Loss: $40,500Percent Loss: 11.6%
Asking Price: $309,500
Bedrooms:4    Baths: 2    Sq. feet:1384

Asking Price Changes:
Down 6.2% from $330,000 On 06-09
Down 3.3% from $319,900 On 08-14

Previous Sales:
Sold on 2005-07-28 for $350,000

MLS# 60090626      Google Maps
Assessed Value       Property Tax Bill



2034 Granite Bar Way
Gold River, CA 95670
Total Loss: $40,100Percent Loss: 5.8%
Asking Price: $649,900
Bedrooms:4    Baths: 2    Sq. feet:3100

Asking Price Changes:
Down 5.8% from $689,999 On 04-09
Down 4.4% from $679,900 On 06-22
Down 1.5% from $659,900 On 07-15

Previous Sales:
Sold on 2005-08-08 for $690,000

MLS# 60078865      Google Maps
Assessed Value       Property Tax Bill



1030 Hildebrand Cir
Folsom, CA 95630
Total Loss: $40,000Percent Loss: 8.2%
Asking Price: $449,000
Bedrooms:3    Baths: 2    Sq. feet:1687

Asking Price Changes:
Down 16.1% from $535,000 On 05-20
Down 14.5% from $525,000 On 08-05
Down 2.2% from $459,000 On 09-02

Previous Sales:
Sold on 2005-10-20 for $489,000

MLS# 60099658      Google Maps
Assessed Value       Property Tax Bill



1351 Woodside Glen Way
Sacramento, CA 95833
Total Loss: $39,500Percent Loss: 11.4%
Asking Price: $305,500
Bedrooms:3    Baths: 2    Sq. feet:1314

Asking Price Changes:
Down 12.7% from $350,000 On 04-09
Down 9.6% from $338,000 On 05-25
Down 3.0% from $315,000 On 08-05

Previous Sales:
Sold on 2003-07-17 for $215,000
Sold on 2005-05-18 for $345,000

MLS# 60085861      Google Maps
Assessed Value       Property Tax Bill



2615 Burnaby Way
Sacramento, CA 95833
Total Loss: $39,100Percent Loss: 6.1%
Asking Price: $599,900
Bedrooms:4    Baths: 3    Sq. feet:2537

Asking Price Changes:
Down 11.1% from $675,000 On 04-09
Down 10.3% from $669,000 On 05-04
Down 7.6% from $649,000 On 05-25

Previous Sales:
Sold on 2005-05-02 for $639,000

MLS# 60042782      Google Maps
Assessed Value       Property Tax Bill


Total 273 in Sacramento County
Go to Part II

18 comments :

christiangustafson said...

God, how I love this site! Burn all flippers! Burn them all!

Anonymous said...

Max,

Is there any way to determine how many of these flippers are also Realtors? I've learned that quite a few flippers are licensed realtors, which gives them an edge over Joe Sixpack with regard to transaction costs.

Max said...

There's no direct way. You have to run the owner's name through the national Realtor list, and the only way to do this is one-by-one.

Anonymous said...

This is fascinating. There seems to be a clear trend here, that if you purchased in 2005, your house is worth less than you paid for it. Also, many, many properties were purchased at levels over $200/sf, some as high as $275/sf in 2005. Clearly, if you are asking over $200/sf NOW, you are probably overpriced for the market. Two months ago, I was wondering how soon we would pierce the $150/sf level, and I now see some of the recent asking prices are doing just that.

MaxedOutMama said...

It was unnerving to note how many of these were delinquent on property taxes.

I'd say $150 is coming up fast.

Max said...

Yeah, it's pretty sad. I guess the flippers forgot to add in $500 a month for taxes on top of their payment...

Anonymous said...

Yes, and the Mello Roos fees in some of these places run $.10/sf per MONTH. A 2500 sf home cost an extra $250/mon or $3,000/year!! HELLO buyers. At 6.5%, that is an extra $40,000 in hidden costs for the price of the home.

Thank you for this blog and all the stats showing this market will revert to the mean over time. I almost bought near the top in this "buyer's market", not realizing we have so much further to drop in the next year or two....at least another 30%, given we have come down 15% in the last 12 months. Maybe more....

Anonymous said...

This is my favorite RE site. Just got back from Reno. Across the street from builders' model homes are FSBO's with the Red/White For Sale signs. In many cases builders just straight up slashed prices $120-$140k right off the top. Other sellers in the neighborhood FSBO or Realtor represented, still asking prices $100k+ too high. Just wait and see what happens my friends. If you bought in summer of '05 and are trying to sell now, you're done!

Anonymous said...

I bailed out of sac in 04, white flite. Best move I ever made, have fun in that liberal diverse cesspool. Left Land Park with cash in the pocket.

Anonymous said...

Second time visiting your site, it is very good. The price drops in one years are pretty amazing.

"Hunter" said...

Wow, I haven't checked your blog in awhile. It seems there are more flippers in trouble + even more losses. Damn, that's all I can say at this point.

Larry said...

Good time to be a landlord:

According to the New York Times:

1. Landlords are enjoying booming times these days as more people are choosing to rent.

2. The supply of rental units is tight, as many rental units were sold off as condominiums.

3. Rents are rising.

4. Apartment REITs are outperforming all other REIT sectors.

Anonymous said...

Larry,

I read that article too, and must say I chuckled. I can't speak to NY, which is geographically restrained (similar to SF). I can speak to Sacramento and I will tell you there is going to be SIGNIFICANT DOWNWARD PRESURE on rental rates in the next 24 months. It has already started.

JTS the Estates at Lincoln Crossing has over 100 Flippers in Trouble (FITs as Max calls them). The FITS paid $650,000 to $800,000 for homes and have been trying to rent them for $2200 and up (since they can not sell). The last rent comp is 1305 Hillwood Loop. 2700 sf for $1595/month. That is $.59/sf for a single family home!! We have not seen that kind of rent since the early to mid 1990's. Wow. The FIT paid $669,000 for the home. Taxes, Insurance, Mello Roos, Maintenance & Managment will eat up approximately $1161/month. So the Flipper NETS $434/mon!! A big .009 ROI (assuming no debt). Less than 1%. Pathetic. Add to the fact the property is DECREASING IN VALUE (the builder is knocking of $200,000 on new deals. You are also seeing more rental units coming on line to compete for limited new tenants, because the Flippers can not sell. Then add the fact most of them used 80-90% financing, and have HUGE negative cash flow each month.

Wake up Larry. It is not NY City. This Sacramento cake is baked for the next 3-4 years. It just hasn't been pulled from the oven yet.

Anonymous said...

Fantastic blog - thank you for taking the time to do this.

Anonymous said...

You guys are the bomb!

Please add a Pot House section to your blog.

Let's watch how those idiot bay area landlords and their lenders are going to get their butts scorched by the DEA who is going to seize the house.

Any takers for those mold ridden homes?

Larry said...

I am not looking for the housing market to suddenly turn back up on a dime. Too much inventory to work through. Some of that inventory will drop off as sellers cancel their listings (or they expire) as they were unable to sell at prices that are no longer available. These are the ones who didn't have to sell, didn't have to move, didn't have a bad mortgage to refinance, but were willing to sell at inflated prices and didn't pull it off.

Anonymous said...

So Larry,

Check back with us in 7 years, when the market has bottomed out in 2010 and cruised along the bottom for 3 more years until 2013. Your $650,000 home (2005) will be selling for $375,000 (2013) and will finally be appreiciating again, this time at a rate of 2.4% a year. You will see the 2005 prices in 2015 IF YOU'RE LUCKY. In the meantime, anyone who buys a home now will be tossing away $3,000 a MONTH in unecessary loan payments for 6 more years. THINK, THINK, THINK.

See you and your "time to buy" retoric later. Much later.

Anonymous said...

This Larry Nusbaum trolls one blog after another and pimp his book. If you have read other blogs, he even used the exact same comments (probably just copy-and-paste).