Comments on: No Appreciation in the Hamptons http://www.arcadiahousingblog.com/2008/06/17/no-appreciation-in-the-hamptons/ Tracking the Arcadia and San Gabriel Valley Housing Market Thu, 11 Mar 2010 12:37:20 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: TheArcadian http://www.arcadiahousingblog.com/2008/06/17/no-appreciation-in-the-hamptons/comment-page-1/#comment-2886 TheArcadian Thu, 19 Jun 2008 21:19:24 +0000 http://www.arcadiahousingblog.com/?p=460#comment-2886 TK, My thinking is that if people are moving closer to downtown in order to save on gas, they would be hard pressed to pay a premium for housing. Personally, I commute into downtown LA every day and it still takes me 45+ minutes to get to work. From Pasadena maybe, but from Arcadia it's still a trek to get to work. But I guess it wouldn't surprise me if the Asian commuters in Diamond Bar and Rowland Heights consider moving to Arcadia as an option. TK,

My thinking is that if people are moving closer to downtown in order to save on gas, they would be hard pressed to pay a premium for housing.

Personally, I commute into downtown LA every day and it still takes me 45+ minutes to get to work. From Pasadena maybe, but from Arcadia it’s still a trek to get to work.

But I guess it wouldn’t surprise me if the Asian commuters in Diamond Bar and Rowland Heights consider moving to Arcadia as an option.

]]> By: T K Eng http://www.arcadiahousingblog.com/2008/06/17/no-appreciation-in-the-hamptons/comment-page-1/#comment-2865 T K Eng Thu, 19 Jun 2008 03:56:10 +0000 http://www.arcadiahousingblog.com/?p=460#comment-2865 Question for the Arcadian, with surging gas prices, the media has reported that people seem to be giving up on long distance commutes and moving closer to where the jobs are-namely, near downtown. Do you think "the gas price effect" will be strong enough to keep Arcadia/Pasadena prices high? since Arcadia is relatively close to downtown L.A. Question for the Arcadian, with surging gas prices, the media has reported that people seem to be giving up on long distance commutes and moving closer to where the jobs are-namely, near downtown. Do you think “the gas price effect” will be strong enough to keep Arcadia/Pasadena prices high? since Arcadia is relatively close to downtown L.A.

]]> By: TheArcadian http://www.arcadiahousingblog.com/2008/06/17/no-appreciation-in-the-hamptons/comment-page-1/#comment-2861 TheArcadian Wed, 18 Jun 2008 21:45:48 +0000 http://www.arcadiahousingblog.com/?p=460#comment-2861 Cicero, I will be waiting with you. In fact, every day I put off buying is an extra couple hundred dollars in my pocket. Even the big home builders have admitted that the usual Summer sell-off is a bust for 2008. Cicero,

I will be waiting with you. In fact, every day I put off buying is an extra couple hundred dollars in my pocket. Even the big home builders have admitted that the usual Summer sell-off is a bust for 2008.

]]> By: Cicero http://www.arcadiahousingblog.com/2008/06/17/no-appreciation-in-the-hamptons/comment-page-1/#comment-2859 Cicero Wed, 18 Jun 2008 21:38:11 +0000 http://www.arcadiahousingblog.com/?p=460#comment-2859 Stop the presses! Did these people run out of money or energy or both in this remodel? Photo 15 shows a TILE bath counter with a propped up mirror. In a $2M+ home? Keep those windows closed, you are 500yards from the freeway fumes and particles! For $2M you should hear nothing but birds and babbling brooks. Again, shame on this clueless realtor for taking a time wasting listing. Realtors are hurting themselves as more and more people will give up trying to sell or looking to buy. I know I 've given up and come back several times. I don't have to buy but will when prices are 30-40% less in 3 years. I can wait. Most of these homeowners can not. Stop the presses!

Did these people run out of money or energy or both in this remodel? Photo 15 shows a TILE bath counter with a propped up mirror. In a $2M+ home?

Keep those windows closed, you are 500yards from the freeway fumes and particles! For $2M you should hear nothing but birds and babbling brooks.

Again, shame on this clueless realtor for taking a time wasting listing. Realtors are hurting themselves as more and more people will give up trying to sell or looking to buy.

I know I ‘ve given up and come back several times. I don’t have to buy but will when prices are 30-40% less in 3 years. I can wait. Most of these homeowners can not.

]]> By: george8 http://www.arcadiahousingblog.com/2008/06/17/no-appreciation-in-the-hamptons/comment-page-1/#comment-2847 george8 Wed, 18 Jun 2008 12:42:22 +0000 http://www.arcadiahousingblog.com/?p=460#comment-2847 In 2010, this property will sell less than 2002 purchase price of $1,100k which requires $250k+ income to afford once the bubbly excess is squeezed dry. In 2010, this property will sell less than 2002 purchase price of $1,100k which requires $250k+ income to afford once the bubbly excess is squeezed dry.

]]> By: SavedByGrace http://www.arcadiahousingblog.com/2008/06/17/no-appreciation-in-the-hamptons/comment-page-1/#comment-2845 SavedByGrace Wed, 18 Jun 2008 04:19:15 +0000 http://www.arcadiahousingblog.com/?p=460#comment-2845 Chris Thornberg is my hero :) Chris Thornberg is my hero :)

]]> By: T K Eng http://www.arcadiahousingblog.com/2008/06/17/no-appreciation-in-the-hamptons/comment-page-1/#comment-2836 T K Eng Tue, 17 Jun 2008 20:59:50 +0000 http://www.arcadiahousingblog.com/?p=460#comment-2836 Someone who pays more than $2 mil for this place would probably have to wait another 10 yrs before they get their money back. Since this owner bought before the current bubble, she is probably not in a hurry to sell unless there she took out a big HELOC. Economist Christopher Thornberg, ex UCLA professor and early bubble predictor, said in today's LA Times that "prices will be down 40% to 50% [from their peak] in Southern California when all is said and done." I wouldn't be surprised if by the end of the year you'll find something comparable to this baby for $1.5 mil or less. Someone who pays more than $2 mil for this place would probably have to wait another 10 yrs before they get their money back. Since this owner bought before the current bubble, she is probably not in a hurry to sell unless there she took out a big HELOC. Economist Christopher Thornberg, ex UCLA professor and early bubble predictor, said in today’s LA Times that “prices will be down 40% to 50% [from their peak] in Southern California when all is said and done.” I wouldn’t be surprised if by the end of the year you’ll find something comparable to this baby for $1.5 mil or less.

]]> By: TheArcadian http://www.arcadiahousingblog.com/2008/06/17/no-appreciation-in-the-hamptons/comment-page-1/#comment-2835 TheArcadian Tue, 17 Jun 2008 20:21:00 +0000 http://www.arcadiahousingblog.com/?p=460#comment-2835 You're right. I meant to say as close to South Pasadena and San Marino as Arcadia could get. You’re right. I meant to say as close to South Pasadena and San Marino as Arcadia could get.

]]> By: Anonymous http://www.arcadiahousingblog.com/2008/06/17/no-appreciation-in-the-hamptons/comment-page-1/#comment-2833 Anonymous Tue, 17 Jun 2008 19:41:55 +0000 http://www.arcadiahousingblog.com/?p=460#comment-2833 Bordering closer to Sierra Madre and Pasadena is more like it You would have to traverse the entire expanse of Pasadena before you even get close to South Pasadena or San Marino, where a home of this size and price would be more justifiable. Bordering closer to Sierra Madre and Pasadena is more like it

You would have to traverse the entire expanse of Pasadena before you even get close to South Pasadena or San Marino, where a home of this size and price would be more justifiable.

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