Wednesday, April 9, 2008

Chuck Smiar

Chuck Smiar, Prudential Realtor in Escondido
Chuck should probably stick to what he know best, which, as near as I can tell, is NOTHING! Who said homes are going to "zero"? They're just going to drop 20-50% depending on your location--that's all.

We have an update on the Smiar-o-Graph from Prof. Piggington.

North San Diego County housing market stays sluggish
"There's buyers out there, but they're just not buying. They're sitting on the fence, waiting for (prices) to drop more. They're going to see it drop and then they'll wait for it to drop some more," said Chuck Smiar, a Prudential Realtor in Escondido. "They all think it's going to go to zero, and they're going to be in for a surprise."

2008-04-08: March worst month yet for housing market
"I think we'll see it (better sales) because the pricing structure is going to force the issue," said Chuck Smiar, a real estate agent in Escondido. "There's a lot of buyers sitting on the fence waiting for the bottom. And I think if they don't jump in soon, they're going to be sorry."

My comment from the first article at NC Times:
Tyrone wrote on Dec 11, 2007 10:14 PM:
" You should find the article at the Motley Fool title, "Down Isn't Up. Really", where the NAR gets ripped for their most recent claim about rising Pending Sales. But lets see, $590K median home price... so the median income in the North County is $150K+. Is that right? BWAHAHAHA Check out the ARM reset schedule. Prime/Alt-A/Neg-AM are next in the queue. North County will be hit hard over the next few years as these begin to reset. Lot of news today about credit and liquidity problems in the financial industry. Bumpy ride ahead... "

In for a Surprise, by Rich Toscano

Here is the overlay of Chuck's comments with the San Diego HPI. A 'Smiar Campaign' if I ever saw one.

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