Oh wait....It didn't.....
21 replies (most recent on top)
Anonymous120827... since the average tenure is 5 years....likely you will be in another job at a different location whether you are displaced or not. So if there is a lower house price, it will matter to you sooner or later.
Anonymous120827 - See how happy you are when you commute is going to be when displaced. You may not be working locally.
Just purchased a home, 7 year arm at 2.5% APR with WF, paid 24K to bring the rate down - locked in the rate on the date when greece went bust. 1.6 mil loan on a 2.1 mil purchase. I'll let you calculate the payments and stuff - with two engineers in the household we can be making that payment comfortably (with or without qualcomm), I am and will a very happy camper regardless of where the prices go, the house is beautiful, the location awesome, kids love it, top notch schools. have fun renting.
Why pay "uber $" for spoiled silicon valley engineers who still have pay through the nose for housing?
Great time to scoop up loads in SD.
In fact, why don't you just move your whole company down here?
Anonymous120798, Don't hate the player, hate the game. No one controls the game. And if you "knew" the Fed would inflate, why would you want to bet against the house, if you know what the outcome of the house is???? If someone gave you 80% odds for a house bet, would you be that stupid to bet on the 20% against the house simply because of your stupid conviction? Maybe so...How did that work out for you?
Fed fed fed god bless the fed and helicopter Ben . risk is a barbarous relic and needs to be removed from the free markets
Dont try to bullshit with me that you think you know about real estate when you really don't. I've spend many years (decades) in this business all over california through all the boom and bust cycles.... San Diego County isn't even the largest percentage gainers... If you wanted to make a killing during the last bust in 2008-2010, you would have made a killing buying in Riverside County, particularly Temecula. Things have doubled there since hitting the bust in 2008.
Anonymous120778, Another anecdotal post with absolute 0 real data from the local market to back it up. You can't even run the simple numbers that I asked you to... How can you possibly ever be successful in real estate as investment or a realtor???????Answer: you won't be... The funny part is, even if there was a correction, you are exactly the type of person that would miss that boat the same why you missed the previous boat in 2008-2010 as well as any other previous boats that were there too, including the stock market run-up we've had all these years for the past 8-9 years...Let me guess, you listen to AM radio, Rush Limbaugh is your best friend, and you listened to Glen Beck, sat out the stock market for the past 8 years, and bought gold and silver at peak prices last year, and stashed the rest of what little cash you have into that 1%CD. How's that working out for you? Yeah, I thought so.
Loom at the history of busts
it happened before n would happen again
the reasons would be different
Anonymous120761, why don't you figure out what the prevailing rent price is for the same area, and the get back to me what it would to carry an average loan in the same area with around a 3.5%-3.75% 30 year fixed mortgage with anywhere between 20-30% down, and then after you do that, tell me what your average rate of return was this year and what you expect to get this year from that downpayment you would put down. And then also, why don't you give me your AGI, so we can figure out on your Schedule A how much of your mortgage interest deduction you can write off to offset your monthly carrying cost of owning a home....Don't forget to include that 1%property tax (no mello r, because it's old Del Mar), and add maybe about $1500/year for insurance. Utility is a wash, because if you rented a SFH, would be on the hook to pay for that yourself.
Anonymous120761 - Describe the premium in the current price per square foot.. and the rise from $325 from two years back.
I got a deal for you guys. If you want to relocate to the Bay Area, one of my homes in Santa Clara that is roughly 1700sqft sells for a nice "deal" price of $1.35million. The school district might suck, and you might get burglarized, but hey, that's still considerably less than Cupertino or Palo Alto. If you can't afford that, you can rent another house similar in size from me, that I am planning to list next month.... Roughly same location, 1752sqft...$4200/month...That's with a $200/month below market discount I'm willing to offer you if you mention this website....Don't wait too long, because the last time I offered this rent price, there were 5 people that wanted to sign a 1 year lease within 24 hours of me posting it on craigslist...
People, please be scared and don't buy. When winter comes around, I want to get good deals because the rest of you morons think the sky is falling... Please don't buy....Please continue to rent from me...The more people like you rent, the more demand there is for rentals, and the less inventory there is...And the more we can continue to jack up rent prices... Please don't buy...The market is tanking....
Anonymous120749, Why would I? I own all my homes I bought since early 90ies and most recently in 2009 with cash....What mortgage? Do you still rent? I'm sorry....Lol.
Anonymous120752, Lol. Don't quit your day job, part time realtor moron. If you think PPSF in Del Mar should be "at the san diego regional average" or equivalent to something like say Chula Vista, then seriously find a better line of work. You won't make it as a realtor. Premium places pay for premium cost. If it weren't that way, same sqft home in Chula Vista would cost the same as Prime oceanfront property in Del Mar. Why would a moron end up spending the same money in Chula Vista versus Del Mar, if PPSF in the two places weren't the same??? Maybe you.... But that's it...Ain't gonna happen dude. Go back and save/invest and maybe you can afford Chula Vista. It's a long road ahead for you, making it as a part time realtor.
@Anonymous120749 check the inventory I posted earlier, let me know if you are selling your house next week
I agree, housing market is melting here, lot of jobs moving to Bay area, broadcom may also announce lay off after completion acquisition, that will add pain too. Wait if you are planning to buy. You mat 10% cheaper. Interest rate will be increased end of this year, that will affect the market too.
Not $100.....But it is going to be less than the $400/SF that it is at currently, which is at a premium above the San Diego region averages.
You are part time moron, part time realtor. Get a frickin broker license, show me how many short sales and REO's you have personally dealt with, and then maybe, just maybe I'll take you more seriously. Meanwhile, I'll count on my 5 brokers that I work with in the short sales and REO markets that regularly to give me a much more accurate pulse of the housing market than you part time moron that spends more time on this blog than on real estate trying to figure things out. Lol...One thing is for sure. Being a part time realtor and a part time Q employee, you clearly suck at both. You probably can't even figure out how to compute 20% of something, because that increase in inventory for the period you quoted isn't even 20%...moron.
I am a part time realtor, it is already slowing down here with high inventory and prices falling. But real impact will be seen in December where more houses, no buyer so price may fall down 10% Wait if you are planning to buy a home, sell if you are planning to sell.
you uber-bears really crack me up..You guys expect a drastic meltdown, even after a drastic meltdown already occurred..... It's almost as funny as you perma-bulls that think house prices always goes up...Like I always say. Just because your financial situation sucks doesn't mean that everyone else's financial situation suck.