Totally agree. That's why I skipped a lot of the "rally the troops" slides. CAR is biased, for sure, but they also produce the most comprehensive data. (And I don't doubt the legitimacy of the data. It's just the presentation that's very pro-sales.)
There's such a disparity between the "actives" and the "solds" that now I understand why both Redfin and Zillow made it impossible to view them all on the screen simultaneously (the way you could for many years). I can think of a number of neighborhoods from say Torrance/Carson, all the way east to Disneyland that "look like" 900K neighborhoods on the active view, but then you switch to the sold in last 90 days view and nope, that's a low-to-mid 800's neighborhood. And there are pockets where it's more egregious than that. "Million dollar" homes for sale surrounded by homes that recently sold in the high sevens. And those homes definitely didn't/don't require 200K of work, as the seller of the "million dollar" home next door might declare.
How do you think these wildfires will affect real estate values? I am not talking about the Los Angeles basin, but areas such as the San Fernando and San Gabriel Valley? You think insurers will also drop more coverages? I am surprised that people in high risk areas right by Topanga State Park had coverage from insurers who won't insure others that are well inside the San Fernando Valley far away from those zones.
I don't think it's clear yet how prices will be affected. On the one hand, the LA economy roars on, and there are now tens of thousands fewer homes. Tighter supply means everything else becomes more valuable. However, I do expect insurance prices to go up, which would have a cooling effect on home prices. We'll just have to watch closely the see what happens...
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They said the same thing about Austin some months before prices started going down.
There’s conflicting of interest
Company its it charge to promote buy a sale of houses creating data and forecast
Totally agree. That's why I skipped a lot of the "rally the troops" slides. CAR is biased, for sure, but they also produce the most comprehensive data. (And I don't doubt the legitimacy of the data. It's just the presentation that's very pro-sales.)
There's such a disparity between the "actives" and the "solds" that now I understand why both Redfin and Zillow made it impossible to view them all on the screen simultaneously (the way you could for many years). I can think of a number of neighborhoods from say Torrance/Carson, all the way east to Disneyland that "look like" 900K neighborhoods on the active view, but then you switch to the sold in last 90 days view and nope, that's a low-to-mid 800's neighborhood. And there are pockets where it's more egregious than that. "Million dollar" homes for sale surrounded by homes that recently sold in the high sevens. And those homes definitely didn't/don't require 200K of work, as the seller of the "million dollar" home next door might declare.
Shrewd observation!
How do you think these wildfires will affect real estate values? I am not talking about the Los Angeles basin, but areas such as the San Fernando and San Gabriel Valley? You think insurers will also drop more coverages? I am surprised that people in high risk areas right by Topanga State Park had coverage from insurers who won't insure others that are well inside the San Fernando Valley far away from those zones.
I don't think it's clear yet how prices will be affected. On the one hand, the LA economy roars on, and there are now tens of thousands fewer homes. Tighter supply means everything else becomes more valuable. However, I do expect insurance prices to go up, which would have a cooling effect on home prices. We'll just have to watch closely the see what happens...
this houses in cal are over price and some are selling run down homes for high prices
It’s the land that’s so valuable here, my friend.