Dilbert

2 Comments

    • ON: Sun May 11th 22:57 PM
      Commented on:
      Seeking Foreclosure Riches: What Does it All Mean?
      gmm, you must be a democrat, right?
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    • ON: Sun Apr 6th 00:33 AM
      Commented on:
      U.S. Housing: The Big Picture by the Numbers
      if my real estate investments only went down 25% peak to trough i'd be throwing a party! i'm over weight in san bernardino county properties. mostly in hesperia. the local market for new residential construction peaked in may of 2006 at approximately $200 / sf. right now there are approximately 100 properties coming onto the market every day and about 30 go pending for the high desert area. the only res. properties selling are usually repos. their going for around $110 / sf. infill building lots peaked at around $115,000. now their worth $25,000 maybe. banks are only accepting comps for appraisals less than 2 months old so even if someone is willing to pay a premium for a new non thrashed house the comps are so bad that the houses won't appraise. local real estate agents will tell you that tract houses are losing 4% per month and customs are losing 3% per month (victor valley area). i've been in the business since 1986. houses in my little valley bottomed out at around 35% off and vacant land was off 66% in 1993. i'm guessing that we'll bottom at more than 50% off on houses in our little valley. i think that i read somewhere else that forclosures will spike towards the end of this year. we're still in a freefall in the victor valley.
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