关于tax credit

一直没有写，主要是太多人写了。太多人来问，还是写一个Summary:

Federal Tax Credit:

$8,000

One time credit

New or used

Primary residence only, closed 1/1 to 12/1

Income limits single up to $75,000 and married couple up to $150,000

California State Tax Credit:

$10,000 ($3,333 per year for 3 years)

New home purchase only

Primary residence only closed 3/1/09 to 3/1/10

No income limits

Rate on roller coaster

After spiking to six-month highs a couple of weeks ago, mortgage rates fell again last week only to rise again this week. Interest on 30-year fixed mortgages settled at an average of 5.42 percent this week, reports Freddie Mac, up from 5.38 percent in the previous week but lower than the prevailing rate of 6.45 percent a year ago. Five-year, hybrid adjustable-rate mortgages also bumped up a couple of notches to 4.99 percent, but 15-year fixed loans and one-year ARMs moved in the opposite direction. The former slipped to 4.87 percent from 4.89 percent, while the latter fell to 4.93 percent from 4.95 percent.

Across street from Westview high

Have you wonder what will that area be?

"TerraMar" is the name.

At this time it is under preliminary grading and do not have any specifics as to a timetable, prices, size or design of the homes planned as nothing has yet been finalized.

Portico is closing down --selling models

Model 1 for 741K

Model 2 for 759K

Model 3 for 790K

Model 4 for 792K

Price as of 6/20/09

HOA 209 and MR 268 a month

Carriage Run new release

Plan 1: 784K

Plan 2: 810K, 729K and 746K

Plan 3: 786K, 850K, 792K and 786K

Most of the lots are back on Carmel Mountain Rd. where noise is a big issue.

HOA 110, MR 90.

How can Cramer be so sure?

I used to follow Cramer, even got a book or two by him. He is a crazy guy.

Today he announced that housing has officially bottomed.

What does a bottom look like? It’s the combination of ramping sales, and sales in certain areas are up ten times those of last year, and an end to falling prices. That’s exactly what we’ve seen for the past three months, Cramer said.

Watch the recap:

忽然之间。。。

房子都不见了。。。

这是我客户打电话来说的.

有一些房子其实是withdraw了。 卖主放了一段时间，无人问津或者收到low offer， 所以就撤下去了。 有一些房子还不错，7788的也就卖了。 很多人惧怕可能出现的通货膨胀，本来想等bottom的也不等了。 更多的是first time home buyers floor into market, 他们看的多是30到50万的starter home. 这个价位的房子好一些的现在都是multiple offers. 银行手里攥着不少的房子，总归会回到市场上。 但是谁知道什么时候能放出来呢，而且银行手里的房子，好房子毕竟也不多。 所以，遇到了喜欢的房子就买，还没有看到对眼的就继续等吧。 就这么简单。 分析来分析去，又有多少意义呢？

不过不能免俗，放一个曲线图吧。

Back up of my low inventory post

You can track San Diego's inventory here

Fact: The inventory of properties with homeowners who are able and will be able to make their mortgage payments is at an all time low (unemployment rate raises).

Foreclosure or short-sales in various stages of , bank-owned REOs that are not listed in MLS.

My thoughts:
If you want to wait and if you know what the sellers need: cash, a quick close, and as-is sales. Then, wait.

There are many people out there hoping that banks would release what they have to the market. Another 10 to 15% fall on price would excepted if so.

Testmoni: Carmel Valley

The house we finally eyed on had 4 offers but Connie worked really hard getting it for us. It's a great deal and We can't be more happy with our house now. Thanks so much!

Josh Liao @ Via Candidiz

18 offers and inventory drop

If you search 92129 zipcode, price range from 400K to 500K, 3 bedrooms or more.

Guess how many properties will return from your search?

11.

Out of these 11 properties, 10 were built before 1980.

8445 Florissant was on market on May 19th. It was a short sale. As of yesterday they have

18 offers on the table. And all of the buyers hadn't even got a chance to take a look at the house!

In the mean time, I read from a blog post that SD inventories dropping like a rock . . . disconnect from other "bubble" markets.

QUOTE:

San Diego's inventory of homes for sale is plummeting. There isn't even the usual summer bounce in terms of inventory numbers. Something is going on the SD market which is NOT occurring elsewhere . . . .

San Diego inventory numbers:

06/2009 11,354
06/2008 18,427
06/2007 19,418
06/2006 19,798

The SD inventory numbers are way down YOY. I have heard countless speculation as to why this is so, other than true demand. But look at fellow bubble market Las Vegas, arguable affected by at least somewhat related demographics and economic activity. While SD inventory has nearly halved from the bubble's peak, LV inventory has increased nearly 25%??? What gives? Why is SD inventory plummeting while at the same time LV inventory is going through the roof??????????????

END OF QUOTE

Why buyers buying at this market

- Tired of waiting
- Prices have come down some
- Their down payment funds have kept going up
- Interest rates are low
- Prices have not gone up
- Leases are expiring
- They think prices are bottoming

- They afraid of inflation

Many sit on the fencers have been come down to join the crowd. In the mean time, inventory came down a LOT lately.