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- space_acer
- Contributions:4311
"With the strong euro and Canadian dollar fueling foreign investment, California, one of the top 3 U.S. markets for foreign real estate investors, is positioned to benefit from rekindled interest in the purchase of bank owned properties. "
Are these the same investors who were expecting high rate of return when they bought
all those CDOs now worthless... did anyone of these so called investors buy into Florida only to go get a first hand experince in the condo bust? Hum!
East Bay real estate has been a historically good investment with property value appreciation remaining robust through many challenging times. While property values may take some time to recover, sales activity of foreclosed real estate is increasing, which is a positive sign that recovery may be on the way. Paul Mees, international sales expert for the team, says, "We are very positive on the I-680 corridor from Walnut Creek to Pleasanton, but absolutely bullish on the East Bay communities of Antioch, Pittsburg and Brentwood, California."
Wow! WC Fields was right .. "there is a sucker born every minute".... Did Paul Mees come to the California just yesterday...
- silent_observer
- Contributions:1603
hey space, i am a proud homeowner in east-bay and there is no bubble here anymore ;-) . japanese are buying, chinese are buying and all other asians are buying here so why not the locals. let us all benefit from the boom!
- silent_observer
- Contributions:1603
roachems & space,
on a serious note - there is more activity now because it is the best selling season of the year. lending market has loosened a little bit with credit unions making a killing on the loans and prices have dropped from 30%-50% or even more in many parts of east-bay. i don't believe in the *canadian interest* in east bay theory. there are still plenty of overpricesed homes sitting in 05,06,07 prices and they are not going to sell. in parts of east-bay reos are not in big numbers and those cities are kind of hitting bottom.
if we see huge defaults from ALT-A & Option-ARM then we will see 90s pricing too.
- space_acer
- Contributions:4311
We had Japanese, chinese, Koreans, Russians and Viets here for decades... some well over 150 years and more...
We are no where near the bottom in many spots of the Bay Area... LOL Lots more to come...
Even when many Chinese from Hong Kong ahead of the hand over from Britian, prices in areas where they settled declined in value.
- Rob Cochems
- Contributions:3523
The bottom is coming
- subwayvigilante
- Contributions:543
I heard that the Emir of Sharjah was recently cruising West Sacramento tract developments in a fleet of Rolls Royce limos, looking for underpriced foreclosures and REO. Thank god these rich foreigners are putting a floor under this market!
- Rob Cochems
- Contributions:3523
Confidence in Real Estate is coming back, and some of the prices you can get are armazingly affordable
- nstarr
- Contributions:179
The "boom!" is coming. With interest rates going up, rates reset, and energy price going up, it'll be like holding a granade. Boom! there goes the arm(s)...leg(s), or maybe all of it.
Many of these bagholder will not be able to sell during the coming rough time. The ones that are buying now will not be able to sell either when interest rates are too high and no one can qualify for a loan to take over the bag of u know waht.
- Rob Cochems
- Contributions:3523
Prices are not going to skyrocket anytime soon, but the fear is already priced into many markets.
- Pablo Picasso
- Contributions:4
As nstarr had mentioned,Yes we will see more bitter renters are out there during tough times. As for many of us landlords, we will be celebrating for rent increases and plentiful of renters to choose from. Celebration times come on! LOL
I find it highly laughable that people already talk about a 'bottom' or a 'comeback' when we are still dropping in the biggest housing bubble bust this nation has ever experienced. Wishful thinking.
- Marci Reinheimer, "MarciR"
- Contributions:1947
SoCal, you can call me whatever you want, but parts of Pittsburg, Antioch, Oakley and Brentwood are down 60%. This isn't Detroit (no offense Detroit, my heart goes out to the people there with the economy in the toilet), so how far should it fall? When you can do the buy=rent and then some, do you really think we are going down another 50%? Come on now....
- Rob Cochems
- Contributions:3523
There are exciting opportunities out there!
- space_acer
- Contributions:4311
Q/A with Oracle CEO, and Billionaire Founder Larry Ellison...
Q: What do you think Silicon Valley is going to be like in five or 10 years?
A: It's going to be a lot more like Detroit than like Silicon Valley.
- space_acer
- Contributions:4311
Do
- space_acer
- Contributions:4311
Do you want to discuss why Detroit became so crappy?
They too were the high paid mecca in their time... their cost burdens dont
allow them to drop prices or sink funds into R&D because of the high cost
of current and former workers... today a mear shadow of their former glory.
But who cares now...
- Randy_H
- Contributions:4385
The Bay Area is not Detroit. The fundamentals are tremendously different. This area is more like NYC or London: a virtuous circle economy with far more diversity of economic base than most people care to realize. Even Seattle puts Detroit to shame in terms of stable, diverse economic base.
I like your comments alot spacer, but don't go over the edge or else you'll just open yourself up to pointless criticism. Ellison is a jergoff anyway. He also said that there would only be 3 software companies by 2005. Well, it's 2008 and there may be just a ways to go yet, lol.
- Marci Reinheimer, "MarciR"
- Contributions:1947
What an incredibly moronic thing to say. Seriously, STFU.
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
Yeah, it made not sense.....It was neither here no there...
- TWB
- Contributions:1813
Flagged
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
Good job TWB. No need for that.
- Randy_H
- Contributions:4385
It's crazyguy/cheapskate/doomers/...
His idiosynchratic writing is unmistakable. He's also on the 48-hour-til-banning program these days.
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
is he aka infoguy Randy?
- Randy_H
- Contributions:4385
I was away for a couple months, so I missed that alias. Probably, if he sounded like this troglodyte.
- Rob Cochems
- Contributions:3523
I thought doomers used intelligent arguments, not moronic rants that have no basis in reality
- Randy_H
- Contributions:4385
So you missed the part where he spammed the forum all weekend long with racism, vulgarity and other bigotry and hatred. I think he started like 1500 threads in 24 hours once using an exploit. That was about the time when I and lots of others bailed out.
- TWB
- Contributions:1813
Not a Doomer. Just a twit trying to stir up trouble. Ignore it and act as if they aren't part of the discussion.
Marci, I sent you an offline message, a day ago or so, did you get it?
If rents fall, then prices might fall some more, and they may over correct into obviously "good buying" territory... But some of the price/rent numbers Marci posted the other day would have me starting to right offers here...
- mckylie
- Contributions:5034
azRob - how do you right an offer? Is it just the opposite of wrong and offer??? J/K
- Marci Reinheimer, "MarciR"
- Contributions:1947
Sorry Rob - I'm glad you said something! I had to get a gmail account because zillow wouldn't let me use my regular one after I had my profile deleted. I forgot that it was being sent there.
Anyway - I can do that for you.
California's East Bay Home Sales Are Ready To Take Off
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- 4.7/5.0
- (9 reviews)
Contributions:3523HarperMees & Associates Says
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