Comments on: Condominium Versus Single Family Homes (The Data) http://thefrontsteps.com/2009/07/23/condominium-versus-single-family-homes-the-data/ Real Estate, Insight, Statistics, Gossip, & News...With a Twist and Some Flavor Mon, 21 May 2012 00:11:30 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Sophie http://thefrontsteps.com/2009/07/23/condominium-versus-single-family-homes-the-data/comment-page-1/#comment-9915 Sophie Fri, 31 Jul 2009 02:12:24 +0000 http://thefrontsteps.com/?p=5334#comment-9915 jason - you're talking about the 3 $3M homes in NoeValley which were NOT foreclosures? activity in the higher end does exist - and talking to people, there are still MILLIONS in cash burning pockets in the city - waiting not for the right price, but for the so-rare right property.... that doesn't sound anything like high end foreclosure to me. from looking at numbers, listings and addresses.. my best guess is that higher end foreclosure are passé - some homes were among the first ones to get hit - with a few 5M in the marina - bought at the time as gambles/investments. Very different from the "honest" foreclosure of someone who put his/her hard-earned money, and tried to do everything possible for the past year to avoid foreclosure and losing it all. What would be a good comp is a heat map with the ratio credit card debt per mortgage amount. When you reach - say - 5% of your mortgage in credit card debt - you'll foreclose in - say - less than 3 months ((note: random numbers I picked for the example). The problem now is that credit cards companies are getting meaner, and THEY are spinning the foreclosure wheel. jason – you’re talking about the 3 $3M homes in NoeValley which were NOT foreclosures?
activity in the higher end does exist – and talking to people, there are still MILLIONS in cash burning pockets in the city – waiting not for the right price, but for the so-rare right property…. that doesn’t sound anything like high end foreclosure to me.

from looking at numbers, listings and addresses.. my best guess is that higher end foreclosure are passé – some homes were among the first ones to get hit – with a few 5M in the marina – bought at the time as gambles/investments. Very different from the “honest” foreclosure of someone who put his/her hard-earned money, and tried to do everything possible for the past year to avoid foreclosure and losing it all.
What would be a good comp is a heat map with the ratio credit card debt per mortgage amount.
When you reach – say – 5% of your mortgage in credit card debt – you’ll foreclose in – say – less than 3 months ((note: random numbers I picked for the example). The problem now is that credit cards companies are getting meaner, and THEY are spinning the foreclosure wheel.

]]> By: Jason http://thefrontsteps.com/2009/07/23/condominium-versus-single-family-homes-the-data/comment-page-1/#comment-9740 Jason Mon, 27 Jul 2009 15:28:06 +0000 http://thefrontsteps.com/?p=5334#comment-9740 This is most likely a case of median prices being distorted by the mix. Increasing median prices are most likely a sign of foreclosure activity moving to more upscale neighborhoods. Don't trust median prices until sales volume is back to normal levels. This is most likely a case of median prices being distorted by the mix. Increasing median prices are most likely a sign of foreclosure activity moving to more upscale neighborhoods.

Don’t trust median prices until sales volume is back to normal levels.

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