San Clemente Talega Hot?

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Submitted by birmingplumb on June 21, 2012 - 10:54am

Been following 2 bedroom condos in Telega for 3 years. Saw as low as 249,999 last winter. Now 0 available under 350,000 and several pending. This would seem like a turnaround. Then I receive daily listings for coastal area from San Clemente to Newport Beach and there are 400 new listings in last 7 days (Truila) I always wanted to buy one and sit on it until it goes back up to 500k. Any advice like wait till Feb? Help me figure out how to get back the 500k I have lost on paper in Michigan on real estate. Motown

‹ DC market is bubbling Trustee auction inventory up? ›

How did you lose money in
Submitted by briansd1 on June 21, 2012 - 3:26pm.

How did you lose money in Motown? What and when did you buy?

My cousin bought a retirement place at Laguna Woods (55+). She had retired to Florida but could not stand the rednecks and aligators anymore. So she's back in CA.

Those aligators are really a
Submitted by sdrealtor on June 21, 2012 - 3:31pm.

Those aligators are really a nusiance in Florida. They are every where and they are lousy drivers too. Worst of all they prefer to eat dinner before 5 and exacerbate the already long lines at all the early bird specials.

Those aligators are really a
Submitted by The-Shoveler on June 21, 2012 - 4:00pm.

Those aligators are really a nusiance in Florida,

Florida Golf ?

If the Aligator wants your ball, Do you get a Mulligan ?

I had house #1 paid for @40
Submitted by birmingplumb on June 22, 2012 - 6:42am.

I had house #1 paid for @40 yrs old-1990 value-275k.
I qualified for a mortgage and bought a 2500sf condo for 230k. My wife said 2 years later we need more room. I again qualified for a second mortgage but failed to get asking price for condo so I rented it for 2k a month.Bought current house 2003 289k.
So in 2003, House 1 rent pays mortgage on condo,and rent from condo pays mortgage on principal residence. All of a sudden I control 3-300k properties, and have no payment now i am underwater on 2 of 3.

deleted
Submitted by flu on June 22, 2012 - 7:23am.

deleted

So in 2003, House 1 rent pays
Submitted by spdrun on June 22, 2012 - 2:50pm.

So in 2003, House 1 rent pays mortgage on condo,and rent from condo pays mortgage on principal residence. All of a sudden I control 3-300k properties, and have no payment now i am underwater on 2 of 3.

As long as you can live rent-free and fee-free, who cares if they're underwater? You're in a better situation than 90% of Americans.

And I'm sure that the printing of Bernanke Bucks will cause them to NOT be underwater in the next decade or so.

Yes correct , I am on plan b
Submitted by birmingplumb on June 22, 2012 - 4:05pm.

Yes correct , I am on plan b now. Hold everything for 21 years until they are paid off. But really love San Clemente, and wonder about Talega future demand/supply.
Motown

A crocodile can't stick its
Submitted by The-Shoveler on June 22, 2012 - 10:39pm.

A crocodile can't stick its tongue out to pant.

sorry I had to do it
OK I am done.

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