June Sales

I found the following homes on Zillow in the Thousand Oaks area that sold during the month of June, and had previous sales history since 1/1/2003.

193 Donegal in Newbury Park sold for $504,000 on 6/19/07 after purchasing for $625,000 on 2/16/06.

97 Dickenson in Newbury Park sold for $645,000 on 6/15/07 after purchasing for $500,000 on 1/12/04.

428 Dena Drive in Newbury Park sold for $530,000 on 6/19/07 after purchasing for $587,000 on 6/8/05.

3779 Calle Posadas in Newbury Park sold for $715,000 on 6/11/07 after purchasing for $815,000 on 6/30/06.

788 Paseo De Leon in Newbury Park sold for $965,000 on 6/22/07 after purchasing for $930,000 on 12/21/04.

527 Citation Way in Thousand Oaks sold for $1,185,000 on 6/25/07 after purchasing for $987,000 on 5/17/05 and $789,500 on 7/12/04.

890 Vinton Ct in Thousand Oaks sold for $565,000 on 6/22/07 after purchasing for $492,692 on 4/18/07. How the heck did they flip this for a $70k profit in just 2 months in this market, in that neighborhood?

1217 Sheffield Place in Thousand Oaks sold for $581,000 on 6/14/07 after purchasing for $535,000 on 1/25/07 and $690,000 on 1/24/06 and $575,100 on 9/20/05. Interesting that somebody ate $160k between and ‘06 and ‘07 and then the property was flipped for a $40k profit in 5 months this year.

And here’s another with similar history to Sheffield:

1881 Rutgers Drive in Thousand Oaks sold for $565,000 on 6/11/07 after purchasing for $517,500 on 4/11/07 and $670,000 on 7/1/05.

1569 Burning Tree Drive in Thousand Oaks sold for $560,000 on 6/22/07 after purchasing for $525,000 on 3/1/07.

555 Calle Tulipan in Thousand Oaks was a big ouch, selling for $549,000 on 6/13/07 after purchasing for $670,000 on 6/27/05 and $575,000 on 7/1/04 and $345,000 on 9/9/03.

 

Evidence To The Contrary?

Over the past few months as I’ve been doing internet research on housing prices and the housing bubble, I seem to come across lots and lots of information about how the housing market is ready for a fall.  This seems to be pretty universal across the country.  One thing I haven’t found is much in the way of good arguments supporting a sustained housing market, or even future growth.  I hear homeowners who seem to think that everything is going to be fine, but I suspect most of them are either not doing any research, or are just hoping for the best.

But I want to know if you’ve seen any good arguments in the past 6 months to say that the housing market in Southern California is not due for any kind of crash or letdown.  If you have, please share it in the comments section of this post.