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drsandcrs

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drsandcrs

Re: drsandcrs post# 2945

Tuesday, 09/27/2011 1:45:52 PM

Tuesday, September 27, 2011 1:45:52 PM

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Talk about price decay ......

Here's something a 3.91% 30 yr fixed mortgage isn't going to fix .....

Sales of exisiting homes year over year in the OC .... plus 7%

Prices of exisiting homes year over year in the OC .. minus 11%

Talk about decay ... it looks more like a collapse .. and current listings are all being marked lower .... by a minimum of 5-10% ...

So here's the math .... cost to finance 4% .... price decay 11% .. comissions and other costs to sell ... 7% .... it add's up to 22% to own for one year ..... YIKES! ...real estate prices in CA are going LOWER everyday regardless of loan activity ..... and lenders are less secure everyday .... OUCH!

here's a link ...

http://lansner.ocregister.com/2011/09/25/o-c-home-prices-at-7-month-low/124563/

Talk about price decay ....




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