John Karevoll
John Karevoll
abnormal comparing fairly market normal year
I think we are in a fairly normal market here. The market we are comparing to a year ago was an abnormal market.
appears call close market normal
It appears that today's market is probably as close to what we would call normal as we've had in a long time.
awful everybody sky tanks telling
There are an awful lot of analysts and think tanks out there telling everybody in the world the sky is falling, and they have been consistently wrong.
carefully declines impending market price seem showing signs watching
What we're watching for here carefully are signs of a significant downturn, especially for price declines ... There are hiccups here and there but as a whole the market does not seem to be showing any signs of an impending decline.
appreciation coming lower rate
The rate of appreciation is coming down. We actually thought it would be lower than this by now.
buffer equity people prices year
But when prices don't go up as fast, you don't have that built-up equity like you did before. People won't have that buffer the way they did a year or two ago.
doubling four last prices
We've had a doubling of prices in the last four years.
building equity people tap troubled
When people got into trouble, they could tap into fast-building equity. Now that the equity is not building as fast, there's not as much to tap into in troubled times.
close eight market memories normal sales seven short
Only if we have very short memories can we say there's a downturn in sales, or at least that sales are significantly low. This is actually as close to a normal market that we've had in seven to eight years.
four hit increase lowest prices rate record
The prices hit a new record, but the rate of increase at which those prices hit that new record was the lowest in four years.
county decline diego furthest happen prices question san uncharted wondering
San Diego is the county that is kind of the furthest off into this uncharted statistical territory, so everybody's wondering what is going to happen locally. The big question there is will prices decline significantly or will they flatten out.
county diego easily san
San Diego has easily been the county with the most (conversion) activity.
buyers felt stretch urgency
There isn't a sense of urgency in the market. Buyers don't feel they need to stretch (finances) the way they felt before.
indication march
Once we have March figures, we'll have a much better indication of what's going on.