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

To: John Vosilla who wrote (284093)	10/17/2010 3:03:37 PM
From: tejek	Read Replies (1) \| Respond to of 306849

I can tell you those Case Shiller and realty trac figures fooled a lot of folks here into believing housing in many markets was still crashing the past 18+ months. Only if you are on the ground in the biz looking at apples to apples comps or the saviest of buyers that know a hood inside out do you really know the true story. I don't know if they are Case Shiller numbers or simply Coldwell Banker's. I suspect the latter. Also note...these are average prices, not median prices like Case does. In addition, they do some cherry picking. For an example, they show Newport Beach; not OC, or La Jolla, not San Diego. When they show Seattle, its not Seattle-Tacoma-Bellevue, its simply Seattle. In addition the AVERAGE price for Seattle may be $688K but the median is much closer to $400K. I thought the list was interesting because I have never seen a list before with that much city specificity. Having said that, I agree with you........to really know what's going on you have to be on the ground. And you also have to pay attention to the activity beyond the facts. I know if you compare current Seattle construction numbers with years past, they look horrible but compared to last year, construction activity is starting to heat up.