Re: Market Trends - Posted by WC
Posted by WC on July 15, 2003 at 18:31:32:
for some reason, my post didn’t come up last night. orrr…
so, his handout has 5 pages:
- cover page -
- Medium Price from CAR - http://www.car.org/index.php?id=MzIyMTU=
- Annual Housing Affordability - Detached Homes CA
- CA SFH Annual Median Sales Price 1968-2003
- CA Median Mortgage Pymt (P&I) 1980-2003
I am a newbie so pardon me if i am over-reacting on topics that everybody may already know
He spent a greal deal of time talking about the affordability, interest rate & PI.
although in the begining of out meeting, some investors believed that the rate will rise soon…He seems to believe that the Feds are going to keep the rates down, despite that it is too big of a risk to ruin the market(s). but watch out in the next 18 months… according to him, we just had an auction held by builders, may be the pros can give a better explanations than i do.
one thing i found interesting is the numbers on the 5th page… again, may be it’s only me, but here are the numbers:
Affordability 28%, Median Price $335k, Interest 6.4
Affordability 28%, Median Pirce $350k, Interest 5.0
he wrote "$1879 @ 10% of $214,000, 39%discount same PI"*****
Don’t know about you, but it scaries me a bit*(and some people in at the SDCIA)
we also spent a great deal of time talking about creating credibitilty with owners, how to approach with hand written letters… only for those who are interested, email me pls.