North County realtor and regular Nerd's Eye View quotee Chuck Smiar is back with some words of wisdom in a recent North County Times (http://nctimes.com/articles/2007/12/11/business/news/7_01_0412_10_07.txt) article:

"There's buyers out there, but they're just not buying. They're sitting on the fence, waiting for (prices) to drop more. They're going to see it drop and then they'll wait for it to drop some more," said Chuck Smiar, a Prudential Realtor in Escondido. "They all think it's going to go to zero, and they're going to be in for a surprise."
Well, I'm not quite sure what to make of this one. For starters, what is the significance of these buyers who aren't buying when they are absolutely swamped by sellers who aren't selling (http://voiceofsandiego.org/articles/2007/12/12/toscano/864octsupply110907.txt)?

And who is it, exactly, that thinks that home prices are going to zero? It's true that many people feel that San Diego home prices need to decline to levels that are justified by economic fundamentals such as local rents and incomes, but is it maybe a bit melodramatic to say that such people think that homes prices will go to zero? Yes, I believe it is.

http://images.townnews.com/voiceofsandiego.org/storyart/smiarograph.jpg

http://www.voiceofsandiego.org/articles/2007/12/12/toscano/854smiar121207.txt

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:rofl:

I love that graph.

the graph is probably one of the best ever.

I boughteded a house in Escondido. I got a great deal on it , even though I have to do some work to it. I figured it was time to jump in. We shall see how far up my ass my shoe ends up going.

lol, that graph rules.

I'm waiting just a little bit longer, though, until my $149.73 is enough for a down payment. Zero, never, but sheesh, is $149.73 asking too much?

I boughteded a house in Escondido. I got a great deal on it , even though I have to do some work to it. I figured it was time to jump in. We shall see how far up my ass my shoe ends up going.

i hope you are kidding.

Nope. I am starting work on it this weekend hopefully.

yikes

well post up the details. what'd u pay? addy? party?

Zero out of pocket. Assuming terms on loan which has about 300k outstanding on it. 3 bedroom 1 bath. Soon to be 2 bath. Current payment will be 1300 a month, fixed for 5 years. After that will jump to approx 2200. Still working out details on financing. Only reason I'm doing it is because I can fix the house up myself. Then sell and move to better area. Its near your parents Doug. 2 blocks from Toyota Escondido.

did it come with a free gun?

whens the fiesta?

When I fixdeded up the inside.

party at G's

Fo sho. I'll have enough room for all you faggots to crash.