Saturday, February 10, 2007

San Marcos market deteriorating

I pick out a few examples reflecting how weak the San Marcos market has become. This is why I would not touch this market.

I remember homes in this area would not last a week on the marker, oh how times have changed. Areas that reeped the benefits of the housing boom like San Marcos, Chula Vista, Carlsbad etc will be the front runners in foreclosures, short sales etc.

Wednesday, February 07, 2007

Housing slump here to stay

By Lauren Baier Kim, Wall Street Journal

New data released by the Census Bureau shows that the vacancy rate of homes for sale, at 2.7%, or 2.1 million vacant homes, is at its highest level since the bureau began tracking it 40 years ago, according to a Wall Street Journal Online article. These properties, many of which are likely held by investors, could bring housing values down further as prices are slashed to attract buyers, WSJ Online says. Meanwhile, reports that figures released by Case Shiller Weiss indicate that nearly every major housing market in the U.S. has seen price declines in November. Showing the largest year-over-year price declines that month were Boston, with a 5% dip, and Detroit, with a 4.5% drop, CNNMoney says. The biggest year-over-year price increases were in Seattle (13%), Portland (11.6%) and Miami (7.4%), according to the article, which includes a chart summarizing market trends for 20 U.S. cities.

Carlsbad owner out at least $130K

Listing Information:

Previous Sale Information:

Six-figure loses are becoming a norm in prestigous Carlsbad. This owner purchased a falling knife and unfortunately the pit is bottomless. In my opinion this home will be $550K by years end.