Housing Prices in Central Ca

**isabel** · 07-07-2008, 12:52 PM

Homes are really dropping here in central CA. Down the street there is a sign that says "New homes starting at $239,000." This is in a gated community. In the next town there is a sign that says "New homes starting at $199,000."

Last year the home for $239,000. was going for $350,000. I work on a real estate magazine. Some of the homes have dropped as much as a $100,000. in the last six months. Many of the realtors are now advertising that they are "Foreclosure Experts". Homes are being marketed as "Short Sale" or "Bank Owned".

We have been hit hard here in CA. Our home would need to go up $100,000. for us to break even on what we owe on it. Does anyone see an end to the down slide of the home market?

Izzy

**Wyoming53** · 07-07-2008, 02:16 PM

It's about time for housing to adjust.

**Panterro** · 07-07-2008, 07:35 PM

Quote:

Originally Posted by Wyoming53

It's about time for housing to adjust.

Agreed.. a million dollars for a 3 bed room home 1200 square feet is just insane.. but thats California for ya.

**T.S.** · 07-10-2008, 10:50 AM

Quote:

Originally Posted by Panterro

Agreed.. a million dollars for a 3 bed room home 1200 square feet is just insane.. but thats California for ya.

People paying those prices have to be at least slightly insane. I would move before I would pay even 1/4 of that price for one of those old 1200 sq ft homes.

StarshipTrooper · 07-19-2008, 10:53 PM

I saw on realtor.com a single family house going for about $55K in the Hemet/San Jacinto area (Riverside)------that is small town Americana money!

07-07-2008, 12:52 PM	#1 (permalink)
isabel STAYING RIGHT HERE Join Date: Jan 17th, 2007 Location: Central CA Posts: 1,406	Housing Prices in Central Ca Homes are really dropping here in central CA. Down the street there is a sign that says "New homes starting at $239,000." This is in a gated community. In the next town there is a sign that says "New homes starting at $199,000." Last year the home for $239,000. was going for $350,000. I work on a real estate magazine. Some of the homes have dropped as much as a $100,000. in the last six months. Many of the realtors are now advertising that they are "Foreclosure Experts". Homes are being marketed as "Short Sale" or "Bank Owned". We have been hit hard here in CA. Our home would need to go up $100,000. for us to break even on what we owe on it. Does anyone see an end to the down slide of the home market? Izzy __________________ I discuss, I do not debate:)

07-07-2008, 02:16 PM	#2 (permalink)
Wyoming53 Hermit Join Date: Jan 21st, 2007 Location: Sheridan, Wy. Posts: 1,521	Re: Housing Prices in Central Ca It's about time for housing to adjust. __________________ Wyoming Heat.

07-19-2008, 10:53 PM	#5 (permalink)
StarshipTrooper Junior Member Join Date: Apr 26th, 2008 Location: Arizona Posts: 60	Re: Housing Prices in Central Ca I saw on realtor.com a single family house going for about $55K in the Hemet/San Jacinto area (Riverside)------that is small town Americana money! __________________ No; I am not an LEO despite my user name

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