The Death Of Money

by qinfovio 15. July 2014 14:52

Good afternoon,

 

We (Realtors) have been using a new software this year with the MLS; Homework's that we used for over 20 years discontinued their product.And switching to the other now take time to get use to it, but I have to admit that there is a lot of more information at our finger tips.

 

The reason that inventory start to build up in Seaside and should also in surrounding cities is due to homes that were purchased in 2008. You have to remember that our last real estate crisis started in 2008 and homes pricein some area start dropping 30 to 40%.

 

But the real bottom of market did not hit until 2010 where home prices drop another 20 to 30%.

 

As now these homes are hitting the market too soon, our local real market is recovering, is up probablyaround 30% but in many case not enough to support 2008 beginning of the crisis.

 

The only ones that are moving, and I will say it again is the LOCATION. Buying the cheapest home in foreclosure or in the regular market, will not help much if you are buying the wrong location.

 

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Today, I am taking you to a different area in the Peninsula, we are going to South Salinas. We have buyers for this specific area, for older home, 4 bedrooms+ and 2 bathrooms+ in the Mid $400-$450,000.

 

427 Cayuba South Salinas $482,500 They did a good job on refurbishing that one and I think it was bought in foreclosures. It has 6 bedrooms, and 3 bathrooms, 70 years old.

 

10 Marion Ave South Salinas $449,000 This older home has nice floor plan, it said 4 bedrooms but is more like 3 bedrooms.

 

17609 Berta Canyon Prunedale $285,000 I check that one close to Prunedale, next to the 101 and you can have horses but this property might be use for an expansion of Hwy 156.

 

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I was checking homes sold in the new development of East Garrison for the past 12 months. They showed 4 properties in the MLS and we should get a bunch more closing soon. Sold prices were between $532,900 and $657,750; They had 4 bedrooms with 2.5 and 3 bathrooms and living space square feet between 1975 and 2791.

 

This new subdivision will help set up homes price in the Salinas, Marina and probably the Seaside area also.

 

We have a new page through MLS software that show the average home price, low and high in your neighborhood.

 

It is much better than Zillow and other sites. It is a very good tool for sellers to check with their agent.

 

Pricing a home is not a science of luck and overpricing your home could cost money and time if it does not sell at the end...it will help other home to sell.

 

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I have been a big fan of Dr. Steve Sjuggerud at Stansberry Research. He is a talented knowledgeable writer in the sense that he use an easy way to put into writing his thought without getting to complicated for us to read it. He also research and analyze his own thought.

 

As I mentioned last week on how we need to learn on how to think again, and it might help you to think.

 

He spent over a week on commenting on a new book done by Jim Rickard "The Death of Money".

 

Steve mentioned that at one time, we should be facing high inflation with all the money printing. And looking into history, as it occurred in 1933 when the dollar was devalued against gold from $20.67 to $35.00 an ounce; This could be the best scenario to break high inflation due to the amount of debt but the only difference this time that we might need maybe to devalued, say $7,000 to an ounce.

 

The other interesting point that he was sharing was also to understand how deflation works. And I think that Steve did not really understand it until after going over the book.  

 

That was a new bill that was put through congress last week that would limit the powers of the Federal Reserve, and if limited, his ability to print money will be limited and if it happens, we will get persistent deflation. By not printing any more money, that will mean no money available for any credits, less money in circulation, and price will go down but it will not be sustainable to cover our national debt.

 

You will have a good opportunity to get into Dr. Steve Sjuggerud subscription as he will get you a free copy of Jim Rickard's book, "The Death of Money".

 

It is how I signed up four years ago and I have access to all their writer at Porter Stansberry Research and I just stick to the one that I can afford.

 

One of the main reason that I like to read them is because they are sharing some thoughts and it makes you think.

 

 Thanks and I will see you next week!
 
Stay Connected with our Local Market
 
 
Christian Viollaz
BRE 01318338
 

07.15.14 NOD List.pdf (5.79 kb)

07.15.14 REO 3 Party.pdf (9.67 kb)

Dailywealth Dr.Steve Sjuggerud.pdf (52.12 kb)

Tags:

Economics | Real Estate | Real Estate Economics

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