Comments on: Phoenix Median Home Price Down A "Stable" 17% In March http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/ Fri, 18 May 2012 02:39:21 +0000 hourly 1 http://wordpress.org/?v= By: village idiot http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11528 village idiot Wed, 16 Apr 2008 02:02:54 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11528 "Homes selling for under $200,000 have increased from last year’s 16 percent to a current 40 percent of the local resale housing market." Transalation: "Homes selling are the ones people can actually afford." “Homes selling for under $200,000 have increased from last year’s 16 percent to a current 40 percent of the local resale housing market.”

Transalation:
“Homes selling are the ones people can actually afford.”

]]> By: twist http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11527 twist Tue, 15 Apr 2008 06:11:43 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11527 AZSaluki- If you have any good photos- feel free to email them to me. Igor won't let posters put up pictures, but he usually lets me. : ) AZSaluki-

If you have any good photos- feel free to email them to me. Igor won’t let posters put up pictures, but he usually lets me. : )

]]> By: AZSALUKI http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11526 AZSALUKI Tue, 15 Apr 2008 04:13:36 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11526 LOL!!!! I wish i could post i pic! Last week my wife noticed a lawn guy at the house across the street from me (the one that I have been taking care of for a year and a half!!). She had to go ask who he was since it sold at auction in Feb. He said he was just a maintenance guy that works for the banks and that the bank still owned this place (guess the sale never closed). He showed her the inside and IT WAS TORE UP!!! Missing cabinets and NO flooring. Literally sitting on a concrete slab. Well she was happy for me since the bank now had a guy to come do the lawn every month (as i have grown sick of it but nobody, including our HOA would do anything about it) so she called to let me know. The VERY NEXT day we went out front and one of the two queen palms in the yard snapped in half and is now hanging there. I just laughed hysterically. It's a week later and the palm is still hanging there, snapped in half!!! I had no idea that a 40 ft palm tree could just break, but i guess two years without water will do funny things to plants that aren't native. Had to share this as I am in the acceptance stage of my neighborhood deteriorating. LOL!!!! I wish i could post i pic! Last week my wife noticed a lawn guy at the house across the street from me (the one that I have been taking care of for a year and a half!!). She had to go ask who he was since it sold at auction in Feb. He said he was just a maintenance guy that works for the banks and that the bank still owned this place (guess the sale never closed). He showed her the inside and IT WAS TORE UP!!! Missing cabinets and NO flooring. Literally sitting on a concrete slab. Well she was happy for me since the bank now had a guy to come do the lawn every month (as i have grown sick of it but nobody, including our HOA would do anything about it) so she called to let me know. The VERY NEXT day we went out front and one of the two queen palms in the yard snapped in half and is now hanging there. I just laughed hysterically. It’s a week later and the palm is still hanging there, snapped in half!!! I had no idea that a 40 ft palm tree could just break, but i guess two years without water will do funny things to plants that aren’t native. Had to share this as I am in the acceptance stage of my neighborhood deteriorating.

]]> By: twist http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11525 twist Tue, 15 Apr 2008 04:02:46 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11525 Surak- It's a "stable" drop. : ) Surak-

It’s a “stable” drop. : )

]]> By: surak http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11524 surak Tue, 15 Apr 2008 03:15:28 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11524 Twist, Interesting statistics that you will not see in the news. Sounds like this market is dropping fast. Igors word is "meltdown" Twist,

Interesting statistics that you will not see in the news. Sounds like this market is dropping fast.

Igors word is “meltdown”

]]> By: surak http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11523 surak Tue, 15 Apr 2008 03:13:42 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11523 azmiller, I totally agree with you. At least Yun is to be expected. Butler pretends to be your advocate. azmiller,

I totally agree with you. At least Yun is to be expected. Butler pretends to be your advocate.

]]> By: Asset Hunter http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11522 Asset Hunter Mon, 14 Apr 2008 22:50:50 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11522 "Butlercaine powder" I had a rash from racing my dirt bike in the mud one time, and I think that's what the Doc prescribed! ROUS! I love it! :-) Spinning: It's not just a job, it's an adventure! “Butlercaine powder”

I had a rash from racing my dirt bike in the mud one time, and I think that’s what the Doc prescribed!

ROUS! I love it! :-)

Spinning: It’s not just a job, it’s an adventure!

]]> By: agnostic http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11521 agnostic Mon, 14 Apr 2008 22:14:44 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11521 Over time, I have built up an immunity to Butlercaine powder. Over time, I have built up an immunity to Butlercaine powder.

]]> By: metroplexual http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11520 metroplexual Mon, 14 Apr 2008 20:16:32 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11520 Asset Hunter, Anyone want to buy some fire-swampland. Just watch out for the ROUS's (Realtors of Unusual Spin, stupidity, etc.) Asset Hunter,

Anyone want to buy some fire-swampland. Just watch out for the ROUS’s (Realtors of Unusual Spin, stupidity, etc.)

]]> By: Linenoise http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11519 Linenoise Mon, 14 Apr 2008 17:45:02 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11519 “People who settled in their dream homes with manageable mortgage payments have little incentive or pent-up demand to change their housing investment. Thus, lower sales activity should not be unexpected,” he said. So sales are down simply because the realtors have managed to place more people in their dream homes than ever before, and they have no reason to buy a new home. I am in awe of this man's spin powers. “People who settled in their dream homes with manageable mortgage payments have little incentive or pent-up demand to change their housing investment. Thus, lower sales activity should not be unexpected,” he said.

So sales are down simply because the realtors have managed to place more people in their dream homes than ever before, and they have no reason to buy a new home.

I am in awe of this man’s spin powers.

]]> By: Asset Hunter http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11518 Asset Hunter Mon, 14 Apr 2008 17:16:41 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11518 metroplexual - Perhaps this inspirational phrase should be adapted to the market as well.... "Hello, I am Inigo Montoya. You killed my father. Prepare to die." Said to the six fingered RE market: "Hello, high prices, I am a Inigo Bubble Sitter. You killed common sense economics. Prepare to die." As for the PHX markets... they've got a long ways to go down, methinks. Twist ~ When are you going to come back to town and school Mr. Butler on TV... again? metroplexual -

Perhaps this inspirational phrase should be adapted to the market as well….

“Hello, I am Inigo Montoya.
You killed my father.
Prepare to die.”

Said to the six fingered RE market:

“Hello, high prices, I am a Inigo Bubble Sitter.
You killed common sense economics.
Prepare to die.”

As for the PHX markets… they’ve got a long ways to go down, methinks.

Twist ~ When are you going to come back to town and school Mr. Butler on TV… again?

]]> By: Tobby http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11517 Tobby Mon, 14 Apr 2008 16:09:04 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11517 I give Butler credit for noting that March sales are in fact weak. Sales are, of course, seasonal, and March usually has a jump over February. Most real estate mouthpieces are making noise about this month over month increase as a sign that all is well. In fact if you eve look at the M-O-M increase on the graph you can see that the slope of the increase is quite shallow compared to years past. Give him some credit Twist for noting this. He is a beaten, broken man. His prognostications have come to naught. I give Butler credit for noting that March sales are in fact weak. Sales are, of course, seasonal, and March usually has a jump over February. Most real estate mouthpieces are making noise about this month over month increase as a sign that all is well. In fact if you eve look at the M-O-M increase on the graph you can see that the slope of the increase is quite shallow compared to years past.

Give him some credit Twist for noting this. He is a beaten, broken man. His prognostications have come to naught.

]]> By: azmiller2008 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11516 azmiller2008 Mon, 14 Apr 2008 15:39:46 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11516 Reading the articles posted here over the past year by both Yun and Professor Butler, I actually respect Yun a little more than Butler. No I don't agree at all with Yun's spin on the housing market. At least I know who "butters his bread." Butler portrays himself as some sort of subjective observer on the local housing market, yet his spin is about the same as Yun's in my opinion. Perhaps the title Professor of Real Estate Studies For the Real Estate Industry would be a more appropriate job title. I do my own studies of about 25 housing markets, most of the major areas that boomed and are now busted. I am looking at total listing and the listing prices. I feel this is the best indicator of future selling prices since at least some of the current listings will translate into sales over the next few months. Anyways, out of all the markets I am looking at Las Vegas and Maricopa county have had the biggest drops in listing price over the past 30 days. Las Vegas about 5 percent. Maricopa about 4 percent. Sellers are slashing prices and new homes on the market are coming in lower and lower. I really don't see an end in sight at this point. But I jump back in when the time is right, whether its in 6 months or 6 years. Reading the articles posted here over the past year by both Yun and Professor Butler, I actually respect Yun a little more than Butler. No I don’t agree at all with Yun’s spin on the housing market. At least I know who “butters his bread.” Butler portrays himself as some sort of subjective observer on the local housing market, yet his spin is about the same as Yun’s in my opinion. Perhaps the title Professor of Real
Estate Studies For the Real Estate Industry would be a more appropriate job title.

I do my own studies of about 25 housing markets, most of the major areas that boomed and are now busted. I am looking at total listing and the listing prices. I feel this is the best indicator of future selling prices since at least some of the current listings
will translate into sales over the next few months. Anyways, out of all the markets I am looking at Las Vegas and Maricopa county have had the biggest drops
in listing price over the past 30 days. Las Vegas about 5 percent. Maricopa about 4 percent. Sellers are
slashing prices and new homes on the market are coming in lower and lower. I really don’t see an end in sight at this point. But I jump back in when the time is
right, whether its in 6 months or 6 years.

]]> By: metroplexual http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11515 metroplexual Mon, 14 Apr 2008 13:49:52 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11515 Twist, With your sentence "No, "stable" is not the word that comes to mind- "consistent", maybe." I am reminded of the following. Inigo Montoya: You are sure nobody's follow' us? Vizzini: As I told you, it would be absolutely, totally, and in all other ways inconceivable. No one in Guilder knows what we've done, and no one in Florin could have gotten here so fast. - Out of curiosity, why do you ask? Inigo Montoya: No reason. It's only... I just happened to look behind us and something is there. Vizzini: What? Probably some local fisherman, out for a pleasure cruise, at night... in... eel-infested waters... -------------------------------------------------------------------------------- Vizzini: INCONCEIVABLE. -------------------------------------------------------------------------------- [In the boat in the morning] Inigo Montoya: He's right on top of us. I wonder if he is using the same wind we are using. -------------------------------------------------------------------------------- [Vizzini has just cut the rope The Dread Pirate Roberts is climbing up] Vizzini: HE DIDN'T FALL? INCONCEIVABLE. Inigo Montoya: You keep using that word. I do not think it means what you think it means. Twist,

With your sentence “No, “stable” is not the word that comes to mind- “consistent”, maybe.” I am reminded of the following.

Inigo Montoya: You are sure nobody’s follow’ us?
Vizzini: As I told you, it would be absolutely, totally, and in all other ways inconceivable. No one in Guilder knows what we’ve done, and no one in Florin could have gotten here so fast. – Out of curiosity, why do you ask?
Inigo Montoya: No reason. It’s only… I just happened to look behind us and something is there.
Vizzini: What? Probably some local fisherman, out for a pleasure cruise, at night… in… eel-infested waters…

——————————————————————————–
Vizzini: INCONCEIVABLE.

——————————————————————————–
[In the boat in the morning]
Inigo Montoya: He’s right on top of us. I wonder if he is using the same wind we are using.

——————————————————————————–
[Vizzini has just cut the rope The Dread Pirate Roberts is climbing up]
Vizzini: HE DIDN’T FALL? INCONCEIVABLE.

Inigo Montoya: You keep using that word. I do not think it means what you think it means.

]]> By: billydlight http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11514 billydlight Mon, 14 Apr 2008 13:37:06 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11514 venetiancafe- Thanks for the goodmorning, coffee out the nose, guffaw! It seems to me that all the plans coming down the shoot- foreclosure credits, FHA short sales, builder loss credits- are really gearing down for individualized market profiteers and not actual buyers. I am suprised that lobbyists aren't tearing themselves apart like a Resident Evil movie. Even the Landry fellow was hesitant in saying the hated words- prices have to fall. Its like a tenement with bad sewage blocks. Everyone is slamming their plungers as fast as they can to push the stink into there neighbors b/room. This week should be good theatre. venetiancafe- Thanks for the goodmorning, coffee out the nose, guffaw!

It seems to me that all the plans coming down the shoot- foreclosure credits, FHA short sales, builder loss credits- are really gearing down for individualized market profiteers and not actual buyers. I am suprised that lobbyists aren’t tearing themselves apart like a Resident Evil movie. Even the Landry fellow was hesitant in saying the hated words- prices have to fall. Its like a tenement with bad sewage blocks. Everyone is slamming their plungers as fast as they can to push the stink into there neighbors b/room. This week should be good theatre.

]]> By: KL http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11513 KL Mon, 14 Apr 2008 13:28:28 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11513 "Thus, lower sales activity should not be unexpected” should not be unexpected? Oh boy... talk about trying to obfuscate. Doesn't that mean lower sales activity should be expected? “Thus, lower sales activity should not be unexpected”

should not be unexpected? Oh boy… talk about trying to obfuscate. Doesn’t that mean lower sales activity should be expected?

]]> By: venetiancafe http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11512 venetiancafe Mon, 14 Apr 2008 08:13:00 +0000 http://housingdoom.com/2008/04/14/phoenix-median-price-drops-17-in-march/#comment-11512 Gilbert needs to drop another 39% before it makes sense to buy! Lenders (Countrywide) are still playing the game of "There's 5 buyers already in front of you ready to snap up this hot foreclosure (with a DARK green pool that has been neglected for two years in Neely Ranch)." The only thing hot about it is the temperature of the bacteria and west nile virus reproducing in the pool. I guess I should let the sharks eat the green gunk and each other for two more years. It's not safe in the water!! P.S. If I hear "snap up" one more time, I'll snap. Gilbert needs to drop another 39% before it makes sense to buy! Lenders (Countrywide) are still playing the game of “There’s 5 buyers already in front of you ready to snap up this hot foreclosure (with a DARK green pool that has been neglected for two years in Neely Ranch).” The only thing hot about it is the temperature of the bacteria and west nile virus reproducing in the pool. I guess I should let the sharks eat the green gunk and each other for two more years. It’s not safe in the water!! P.S. If I hear “snap up” one more time, I’ll snap.

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