4.24.2007

DROPPING HOME PRICES

Home sales dropped 9% in the West during March. Ha ha! The house next door to my inlaws has been on the market for at least a year now and every time that Erik and I are in Camarillo we drive by, literally point our fingers out the window and say, "HA HA!" I also want to take this opportunity to give a big shout out to our landlords who are making our current lifestyle possible. We are renting from speculators from Irvine who bought this brand new tract home in Tehachapi. They couldn't sell it (HA HA! *finger pointed*), and out of desperation are renting this new 5 bedroom house to us for $1200 a month. (That is a screaming deal here. Did I mention that includes a gardener? They bought it for around $325,000. We don't really need this much space, so we'll probably move when our lease is up. Nevertheless, thank you Irvine speculators.) Erik says that he is praying for an earthquake to make the prices dramatically fall. Not the nicest sentiment, but imagine the anguish at trying to buy a $500,000 fixer upper with a conventional loan. The whole situation evokes strange emotions. Let's hope for a significant price drop soon.

1 comment:

  1. I know that people are saying that house prices are dropping, but I don't see it. At the rates I'm seeing, we'll be eternal renters!

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