tag:blogger.com,1999:blog-13037130.post7186023896395450812..comments2024-03-25T08:47:49.650-07:00Comments on Manhattan Beach Real Estate-Redondo Beach Townhomes: Manhattan Beach-Beach Cities: Changes in the real estate market....Kayehttp://www.blogger.com/profile/09003331406008950614noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-13037130.post-58481107476871300642008-10-10T18:42:00.000-07:002008-10-10T18:42:00.000-07:00Anonymous 4:00,Look.. let's just cut to the chase ...Anonymous 4:00,<BR/><BR/>Look.. let's just cut to the chase and stop being silly. We are in for some bad times. No one walks away from what's been happening in the last 10 days unscathed. <BR/><BR/>Will we fare a little better then other areas.. I sure hope so but that doesn't mean we are not in serious trouble. <BR/><BR/>The hope is that we don't see 2/3 of the population unemployed as we did in the 90's. With a little luck that won't happen because we aren't a one employer economy. That is not a bad thing.<BR/><BR/>Real estate sales are going to decline and so are values. Buyers are going to expect discounted prices and they are going to get them. Sellers who don't have to sell will take their homes off the market. Depending on what happens with rates and the economy it's 50/50 on an increase in foreclosures when another batch of ARMS reset. This is going to be bad.<BR/> <BR/>We may do better then other parts of the state and the country because so far we have managed to hold up better. <BR/><BR/> You are right I am lucky to be in this area because we might just muddle through. You want to know what bad is... take a look at Detroit... you don't want to see that happen anywhere let alone in the South Bay.Kayehttps://www.blogger.com/profile/09003331406008950614noreply@blogger.comtag:blogger.com,1999:blog-13037130.post-61498647284816613662008-10-10T16:00:00.000-07:002008-10-10T16:00:00.000-07:00Kaye,You're lucky to be working in this market. T...Kaye,<BR/><BR/>You're lucky to be working in this market. Those in the know understand that the current financial issues will have very little effect on an area as wealthy and successful as this one.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13037130.post-54477159406597177222008-10-10T12:26:00.000-07:002008-10-10T12:26:00.000-07:00Anonymous 11:00,Nice take but not what I said ...W...Anonymous 11:00,<BR/>Nice take but not what I said ...<BR/><BR/>We all know the "fixes" (that's why the quotation marks) will at best bring a bit of stability to credit markets but it's not going to cure them. The bloodbath we have seen in the last 10 days will take years to repair. <BR/><BR/>A flat market would be the <B><I>best</I></B> scenario you could hope for but we won't see that anytime soon. I don't think we will see 50% from today's numbers as a decline but it will be nasty. <BR/><BR/>I'm hoping it won't be as bad as the 90's as the job base is more diversified so fallout from one industry won't decimate the entire South Bay economy. No one is going to escape the consequences of the market not the bears or MB property values. <BR/><BR/>That said if we hang on a bit better be grateful as the job that gets saved could be yours.Kayehttps://www.blogger.com/profile/09003331406008950614noreply@blogger.comtag:blogger.com,1999:blog-13037130.post-11160201145878817662008-10-10T11:00:00.000-07:002008-10-10T11:00:00.000-07:00Don't worry, Kaye. MB will be flat for a few mont...Don't worry, Kaye. MB will be flat for a few months, then prices will rise again. It's unfair to imply otherwise. These fixes just need a few days to work.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13037130.post-79684888467742186852008-10-10T08:23:00.000-07:002008-10-10T08:23:00.000-07:00anonymous 7:53,Looks like we are now in panic mode...anonymous 7:53,<BR/>Looks like we are now in panic mode as the market was worse this morning. <BR/><BR/>I sure hope we aren't 6-8 months from the bottom as there won't be much left if the markets continue to move downward at the current rates. As Monday is a holiday that might slow some of the panic selling if people have a chance to stop and think. <BR/><BR/>Very scary indeed...Kayehttps://www.blogger.com/profile/09003331406008950614noreply@blogger.comtag:blogger.com,1999:blog-13037130.post-4135444047308010552008-10-10T07:53:00.000-07:002008-10-10T07:53:00.000-07:00In the financial markets, I keep expected a brief ...In the financial markets, I keep expected a brief counter-trend rally. But instead we keep getting 5% down per day.<BR/><BR/>I would say that the "fixes" will do little in the short term to fix anything. The world financial conditions are now degrading much rapider than the US. Now, Europe, S. America, and Asia are all in the throes of this......the US is not done, this will manifest here in terms of dramatically slowing world economy.<BR/><BR/>I would expect the bottom of the stock market is a good 6-8 months out.<BR/><BR/>And it will be a lot lower than it is now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13037130.post-10152364837288542502008-10-09T22:03:00.000-07:002008-10-09T22:03:00.000-07:00anonymous 9:00, This is as scary as anything I hav...anonymous 9:00,<BR/> This is as scary as anything I have seen that's for sure... A lot will depend on whether or not the "fixes" work. If they do then we will still see some nasty stuff but things will stabilize.<BR/><BR/>I heard from a few who know the market well that you might see the market start to turn next week after the excess has been taken out. <BR/><BR/>I think 50% declines in housing values from the current numbers may be a bit high as there are so many places that have had prices already fall near that level. But if the markets don't stabilize soon you are going to see some major price declines... even in MB and the South Bay... as people find themselves without jobs and a lot of their savings lost in the market. <BR/><BR/>The only bright side of the whole mess is that I believe we will see major changes in the financial sector which in turn will be beneficial for the private sector. This is a wake up call for everyone.Kayehttps://www.blogger.com/profile/09003331406008950614noreply@blogger.comtag:blogger.com,1999:blog-13037130.post-34110187596448896382008-10-09T21:00:00.000-07:002008-10-09T21:00:00.000-07:00Stuff looks real, real bad. This is a full blown ...Stuff looks real, real bad. This is a full blown loss-of-confidence financial crisis where nobody knows where it will end.<BR/><BR/>I think scores of small businesses will go down. Consumers will pull back.<BR/><BR/>I hate to say it, but I would be very, very surprised if house medians did not decline AT LEAST 50% if this crisis does not end very soon.<BR/><BR/>I have to say, I have been bearish for a couple of years, but this is much scarier than anything I ever predicted.Anonymousnoreply@blogger.com