Comments on: May Report – Arcadia down 21.23% http://www.arcadiahousingblog.com/2008/06/21/may-report-arcadia-down-2123/ Tracking the Arcadia and San Gabriel Valley Housing Market Tue, 16 Mar 2010 04:16:15 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: TheArcadian http://www.arcadiahousingblog.com/2008/06/21/may-report-arcadia-down-2123/comment-page-1/#comment-2947 TheArcadian Mon, 23 Jun 2008 17:01:13 +0000 http://www.arcadiahousingblog.com/?p=483#comment-2947 You are skewing the figures. You are quoting LA Times' numbers from the sale of just single family homes. My DataQuick figures take into account for all properties sold (i.e. sfr, condos, puds ect). http://dqnews.com/Charts/Monthly-Charts/CA-City-Charts/ZIPCAR.aspx Seeing as how condos account for over 25% of the homes sold last month, I always go with the all-inclusive data rather than breaking it down between SRF and condos. You are skewing the figures. You are quoting LA Times’ numbers from the sale of just single family homes. My DataQuick figures take into account for all properties sold (i.e. sfr, condos, puds ect).

http://dqnews.com/Charts/Monthly-Charts/CA-City-Charts/ZIPCAR.aspx

Seeing as how condos account for over 25% of the homes sold last month, I always go with the all-inclusive data rather than breaking it down between SRF and condos.

]]> By: puckhead http://www.arcadiahousingblog.com/2008/06/21/may-report-arcadia-down-2123/comment-page-1/#comment-2946 puckhead Mon, 23 Jun 2008 16:07:20 +0000 http://www.arcadiahousingblog.com/?p=483#comment-2946 Your number for 2007 sales are different than the Dataquick numbers listed in the LAT. Per Dataquick, the 2008 May sales for the two Arcadia zip codes were $679K & $770K and South Pas was $750K. Still down, but not as bad as your figures indicate. Sorry to put a downer on your celebration. Your number for 2007 sales are different than the Dataquick numbers listed in the LAT. Per Dataquick, the 2008 May sales for the two Arcadia zip codes were $679K & $770K and South Pas was $750K. Still down, but not as bad as your figures indicate. Sorry to put a downer on your celebration.

]]> By: Caveman http://www.arcadiahousingblog.com/2008/06/21/may-report-arcadia-down-2123/comment-page-1/#comment-2931 Caveman Sun, 22 Jun 2008 21:09:59 +0000 http://www.arcadiahousingblog.com/?p=483#comment-2931 How do you know that all the properties in Pasadena that sold were of the tiny and dark variety? How do you know that all the properties in Pasadena that sold were of the tiny and dark variety?

]]> By: T K Eng http://www.arcadiahousingblog.com/2008/06/21/may-report-arcadia-down-2123/comment-page-1/#comment-2925 T K Eng Sun, 22 Jun 2008 08:09:06 +0000 http://www.arcadiahousingblog.com/?p=483#comment-2925 Renters are definitely winners in this housing climate. I went to see a home that I was interested in just less than 60 days ago in West Covina. I could not believe how badly the property deteriorated. Here is a link to the property- http://www.redfin.com/CA/Covina/19431-Cameron-Ave-91724/unit-1/hme/12280062 The nice lawn is no more. Weeds are growing at almost knee level, and the pool is filled with green gooey stuff...the place now looks like a jungle, not at all like the redfin photos. The seller must be having money problems to let this nice property rot like this. I thought these types of "abandoned homes" only existed in exurbs like Temecula or Riverside. I would not be suprised in a few more months we will start to see abandoned McMansions in Arcadia too. Renters are definitely winners in this housing climate. I went to see a home that I was interested in just less than 60 days ago in West Covina. I could not believe how badly the property deteriorated. Here is a link to the property-

http://www.redfin.com/CA/Covina/19431-Cameron-Ave-91724/unit-1/hme/12280062

The nice lawn is no more. Weeds are growing at almost knee level, and the pool is filled with green gooey stuff…the place now looks like a jungle, not at all like the redfin photos. The seller must be having money problems to let this nice property rot like this. I thought these types of “abandoned homes” only existed in exurbs like Temecula or Riverside. I would not be suprised in a few more months we will start to see abandoned McMansions in Arcadia too.

]]> By: TheArcadian http://www.arcadiahousingblog.com/2008/06/21/may-report-arcadia-down-2123/comment-page-1/#comment-2920 TheArcadian Sun, 22 Jun 2008 06:15:39 +0000 http://www.arcadiahousingblog.com/?p=483#comment-2920 This is very apparent when you filter through the San Gabriel Valley home listings. Many Realtors bought during the height of the bubble and now unable to unload them. Personally, I know if a handful of self-proclaimed RE professionals who have been wiped clean of their savings from this housing crisis. There isn't much I can say to them... This is very apparent when you filter through the San Gabriel Valley home listings. Many Realtors bought during the height of the bubble and now unable to unload them. Personally, I know if a handful of self-proclaimed RE professionals who have been wiped clean of their savings from this housing crisis. There isn’t much I can say to them…

]]> By: TheArcadian http://www.arcadiahousingblog.com/2008/06/21/may-report-arcadia-down-2123/comment-page-1/#comment-2919 TheArcadian Sun, 22 Jun 2008 06:11:57 +0000 http://www.arcadiahousingblog.com/?p=483#comment-2919 You can check dqnews.com for housing numbers of every city in California. They are reliable enough to be used by all the major news outlets. Feel free to shoot any other questions our way! :) You can check dqnews.com for housing numbers of every city in California. They are reliable enough to be used by all the major news outlets. Feel free to shoot any other questions our way! :)

]]> By: Anonymous#2 http://www.arcadiahousingblog.com/2008/06/21/may-report-arcadia-down-2123/comment-page-1/#comment-2917 Anonymous#2 Sun, 22 Jun 2008 00:17:42 +0000 http://www.arcadiahousingblog.com/?p=483#comment-2917 Like the song says....You Aint Seen Nothin' Yet! Here's what is scary [if you are a seller]....I have never in my 30+ years of following RE seen so many home for sale by REALTORS! So here they are telling people to buy and they are selling in droves. It's not illegal but it is questionable as to the "advice" they give their prospective buyers. I've been telling coworkers to wait for a 20-25% decline but I think it's going to be more like 40-50% as interest rates are bound to climb rapidly in the next 2-3 years. Back to the 7% range for 30yr fixed. Australia, Mexico and the UK have all raised their rates to stop inflation. We are about 1 year behind and will have to play catch up if we expect head off inflation. High inflation, rising unemplyment and tough lending standards all spell trouble for sellers. My biggest fear....with so much to choose from I am afraid I won't be able to make a decision on where to buy!! :P Like the song says….You Aint Seen Nothin’ Yet!

Here’s what is scary [if you are a seller]….I have never in my 30+ years of following RE seen so many home for sale by REALTORS!

So here they are telling people to buy and they are selling in droves. It’s not illegal but it is questionable as to the “advice” they give their prospective buyers.

I’ve been telling coworkers to wait for a 20-25% decline but I think it’s going to be more like 40-50% as interest rates are bound to climb rapidly in the next 2-3 years. Back to the 7% range for 30yr fixed.

Australia, Mexico and the UK have all raised their rates to stop inflation. We are about 1 year behind and will have to play catch up if we expect head off inflation.

High inflation, rising unemplyment and tough lending standards all spell trouble for sellers.

My biggest fear….with so much to choose from I am afraid I won’t be able to make a decision on where to buy!! :P

]]> By: Anonymous http://www.arcadiahousingblog.com/2008/06/21/may-report-arcadia-down-2123/comment-page-1/#comment-2916 Anonymous Sat, 21 Jun 2008 22:06:56 +0000 http://www.arcadiahousingblog.com/?p=483#comment-2916 With increasing inventory, I expect home prices to keep dropping. However, I'm just curious where are you getting the numbers for Arcadia? With increasing inventory, I expect home prices to keep dropping. However, I’m just curious where are you getting the numbers for Arcadia?

]]> By: Arcadia Lost http://www.arcadiahousingblog.com/2008/06/21/may-report-arcadia-down-2123/comment-page-1/#comment-2915 Arcadia Lost Sat, 21 Jun 2008 15:28:56 +0000 http://www.arcadiahousingblog.com/?p=483#comment-2915 Frankly, I'm still amazed that people are still purchasing homes at that rate. Also, the median prices that are used for YOY comparisons can be misleading: is Temple City really only 37k less expensive than Arcadia? It would be nice to see all the sales and see the actual sales prices laid out. Regardless, it does point to the downward trend in prices. I know not all sales are FC or short sales. One of the midlevel managers in my office (government)just completed a purchase of a home in Valencia; he sold his smaller home in the city and bought a larger one nearby. I didn't ask for details, but he seemed happy enough. Although he is keenly aware prices are dropping, he said just wanted more room for his family. Frankly, I’m still amazed that people are still purchasing homes at that rate. Also, the median prices that are used for YOY comparisons can be misleading: is Temple City really only 37k less expensive than Arcadia? It would be nice to see all the sales and see the actual sales prices laid out. Regardless, it does point to the downward trend in prices.

I know not all sales are FC or short sales. One of the midlevel managers in my office (government)just completed a purchase of a home in Valencia; he sold his smaller home in the city and bought a larger one nearby. I didn’t ask for details, but he seemed happy enough. Although he is keenly aware prices are dropping, he said just wanted more room for his family.

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