Thoughts on Turtle Ridge & the Market

NEW -> Contingent Buyer Assistance Program
C

CaliforniaEsq_IHB

New member
Friends: I recently came across this forum and have enjoyed reading through some of the discusssions. For the past 12 months, I have been on the fence as far as purchasing a home goes. We have been keeping a close eye on the Newport Coast and Turtle Ridge communities (leaning more towards turtle ridge). During the past 6 weeks I've noticed some serious price reductions on homes that were originally listed at around 1.899 - 2.299.



Any thoughts on the depreciation and how market values have gone back to pre-2005 ranges? Thoughts about where one should expect the market goes heading into the summer?



Thanks much for any thoughts. Cheers.
 
[quote author="CaliforniaEsq" date=1208161141]Friends: I recently came across this forum and have enjoyed reading through some of the discusssions. For the past 12 months, I have been on the fence as far as purchasing a home goes. We have been keeping a close eye on the Newport Coast and Turtle Ridge communities (leaning more towards turtle ridge). During the past 6 weeks I've noticed some serious price reductions on homes that were originally listed at around 1.899 - 2.299.



Any thoughts on the depreciation and how market values have gone back to pre-2005 ranges? Thoughts about where one should expect the market goes heading into the summer?



Thanks much for any thoughts. Cheers.</blockquote><a href="http://www.irvinehousingblog.com/blog/category/analysis/">Everything you could ever want to know about prices... is a click away.</a>
 
The price reductions in that area ARE just a beginning. I'm willing to bet more than half of the people there bought with some sorta adjustable/interest only/neg am loan. If you can SEE the price reductions in just WEEKS, then there is something seriously wrong.



Anyways good luck

-bix
 
[quote author="CaliforniaEsq" date=1208161141]Friends: I recently came across this forum and have enjoyed reading through some of the discusssions. For the past 12 months, I have been on the fence as far as purchasing a home goes. We have been keeping a close eye on the Newport Coast and Turtle Ridge communities (leaning more towards turtle ridge). During the past 6 weeks I've noticed some serious price reductions on homes that were originally listed at around 1.899 - 2.299.



Any thoughts on the depreciation and how market values have gone back to pre-2005 ranges? Thoughts about where one should expect the market goes heading into the summer?



Thanks much for any thoughts. Cheers.</blockquote>


These properties are ridiculously overvalued, and they will fall very hard. In 3-5 years these homes will be 40% less expensive, so unless you want to see all your money disappear into the ethers. Don't buy one of them.
 
You must log in or register to reply here.
Back
Top