Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: damainman who wrote (31495)	5/18/2005 6:21:35 PM
From: patron_anejo_por_favor	Respond to of 306849

>>"oh wait, everyone is qualified these days".<< Indeed...."fog a mirror, get a loan" is the only underwriting guideline used these days. What does Fannie Mae call it? Oh yeah, "automated underwriting" (for sure....."automatic underwriting" is more like it...<G>)

To: damainman who wrote (31495)	5/18/2005 7:16:36 PM
From: morokko65	Read Replies (1) \| Respond to of 306849

Residential inventory in the Bay Area of CA appears to be climbing. Here in San Ramon (Pop 30,000+-) there are 72 listings. still low, but up from 30 a month ago. Sales have been running about 60 per month. A balanced market would be expected to have 3-5 months supply of listings. When the psychology turns, buyer will stop paying $40K to $90K above asking for 1400 sq.ft. starter homes, and start holding back. Similar to what happened in early 2001. Prices dropped about 10% in the central Bay Area from 2/2001 through 12/01. It takes several months for the psychology to change