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  • May 15, 2008 at 5:56 PM #12748
    masayako
    Participant

    Another elderly friend persuade me to BUY.
    Basically, my response to her is: If you think it’s a good time to buy, go and BUY yourself a house. Since I don’t agree with you, I will continue to RENT. Let’s see who’s right 10 years from now.

    I admit that I don’t have as much RE experience as her. She is an agent. Still, my common sense tells me PRICE IS STILL TOO HIGH!

    Here’s my thinking: If a mid 6-figure income guy like me is having trouble finding a decent house with a decent size (2000 sqft) in a decent neighborhood, SOMETHING IS FREAKING WRONG HERE in this out of control RE market~~!! The SD RE market is still way overpriced!

    Here is her email to me:

    “If you are a ready buyer this is good time to buy. No one knows the bottom of the market. If you think the market is still going down for 10% more then offer 10% lower the asking price. You have more inventories now and you are on the winning side of the bargaining table. Why wait? Paying rent is fine especially less responsibilities. I have in RE business since 1986 and I experience the ups and downs of the market many times. Owing a home and keeping it is always the winner. Same as the security trading, I don’t believe day trader will make money if you only jumps in and jumps out. Unless your are the professional and read the annual reports everyday, I dare not to jump into the market. Yes, I have stocks but my stocks stay in my account and no trading almost for 14 years or more.
    I am looking into the RE market in SD now because I believe in it. I may not buy the property at the bottom price but will be a fair price I could afford. ”

    May 15, 2008 at 6:11 PM #205241
    Raybyrnes
    Participant

    Doesn’t seem out of line if you expect to hold for a long period and have the income to do so.

    If your friend has followed her own advice and bought good securites and has held them she has done well. If she has bought real estate nd held it without refiing out she has done well.

    If this has been her strategy show me what she is doing that is wrong.

    I tend to think the real deal here is rent is cheap. Rather than arguing over buying a home or timing a market just let her know you like good deals and think renting is a good deal at the moment.

    May 15, 2008 at 6:11 PM #205291
    Raybyrnes
    Participant

    Doesn’t seem out of line if you expect to hold for a long period and have the income to do so.

    If your friend has followed her own advice and bought good securites and has held them she has done well. If she has bought real estate nd held it without refiing out she has done well.

    If this has been her strategy show me what she is doing that is wrong.

    I tend to think the real deal here is rent is cheap. Rather than arguing over buying a home or timing a market just let her know you like good deals and think renting is a good deal at the moment.

    May 15, 2008 at 6:11 PM #205376
    Raybyrnes
    Participant

    Doesn’t seem out of line if you expect to hold for a long period and have the income to do so.

    If your friend has followed her own advice and bought good securites and has held them she has done well. If she has bought real estate nd held it without refiing out she has done well.

    If this has been her strategy show me what she is doing that is wrong.

    I tend to think the real deal here is rent is cheap. Rather than arguing over buying a home or timing a market just let her know you like good deals and think renting is a good deal at the moment.

    May 15, 2008 at 6:11 PM #205318
    Raybyrnes
    Participant

    Doesn’t seem out of line if you expect to hold for a long period and have the income to do so.

    If your friend has followed her own advice and bought good securites and has held them she has done well. If she has bought real estate nd held it without refiing out she has done well.

    If this has been her strategy show me what she is doing that is wrong.

    I tend to think the real deal here is rent is cheap. Rather than arguing over buying a home or timing a market just let her know you like good deals and think renting is a good deal at the moment.

    May 15, 2008 at 6:11 PM #205342
    Raybyrnes
    Participant

    Doesn’t seem out of line if you expect to hold for a long period and have the income to do so.

    If your friend has followed her own advice and bought good securites and has held them she has done well. If she has bought real estate nd held it without refiing out she has done well.

    If this has been her strategy show me what she is doing that is wrong.

    I tend to think the real deal here is rent is cheap. Rather than arguing over buying a home or timing a market just let her know you like good deals and think renting is a good deal at the moment.

    May 15, 2008 at 6:15 PM #205246
    an
    Participant

    I hope you mean low 6-figure or mid $100k, cuz if you make $500k, I’m sure you can afford most if not all 2000 sq-ft house in San Diego.

    Your friend does have a point though. I don’t know if it’s possible to pull it off but we all can agree that today’s rate is record low. If you think a certain house is 10% from bottom and you can get a 90% offer accepted, why not buy now. That’s a big IF though. Most 2000 sq-ft houses in nice areas are still 20-30% too high even at today’s price. I highly doubt you can get a seller to accept an offer that’s 20-30% below list price.

    May 15, 2008 at 6:15 PM #205378
    an
    Participant

    I hope you mean low 6-figure or mid $100k, cuz if you make $500k, I’m sure you can afford most if not all 2000 sq-ft house in San Diego.

    Your friend does have a point though. I don’t know if it’s possible to pull it off but we all can agree that today’s rate is record low. If you think a certain house is 10% from bottom and you can get a 90% offer accepted, why not buy now. That’s a big IF though. Most 2000 sq-ft houses in nice areas are still 20-30% too high even at today’s price. I highly doubt you can get a seller to accept an offer that’s 20-30% below list price.

    May 15, 2008 at 6:15 PM #205294
    an
    Participant

    I hope you mean low 6-figure or mid $100k, cuz if you make $500k, I’m sure you can afford most if not all 2000 sq-ft house in San Diego.

    Your friend does have a point though. I don’t know if it’s possible to pull it off but we all can agree that today’s rate is record low. If you think a certain house is 10% from bottom and you can get a 90% offer accepted, why not buy now. That’s a big IF though. Most 2000 sq-ft houses in nice areas are still 20-30% too high even at today’s price. I highly doubt you can get a seller to accept an offer that’s 20-30% below list price.

    May 15, 2008 at 6:15 PM #205325
    an
    Participant

    I hope you mean low 6-figure or mid $100k, cuz if you make $500k, I’m sure you can afford most if not all 2000 sq-ft house in San Diego.

    Your friend does have a point though. I don’t know if it’s possible to pull it off but we all can agree that today’s rate is record low. If you think a certain house is 10% from bottom and you can get a 90% offer accepted, why not buy now. That’s a big IF though. Most 2000 sq-ft houses in nice areas are still 20-30% too high even at today’s price. I highly doubt you can get a seller to accept an offer that’s 20-30% below list price.

    May 15, 2008 at 6:15 PM #205347
    an
    Participant

    I hope you mean low 6-figure or mid $100k, cuz if you make $500k, I’m sure you can afford most if not all 2000 sq-ft house in San Diego.

    Your friend does have a point though. I don’t know if it’s possible to pull it off but we all can agree that today’s rate is record low. If you think a certain house is 10% from bottom and you can get a 90% offer accepted, why not buy now. That’s a big IF though. Most 2000 sq-ft houses in nice areas are still 20-30% too high even at today’s price. I highly doubt you can get a seller to accept an offer that’s 20-30% below list price.

    May 15, 2008 at 6:20 PM #205352
    Anonymous
    Guest

    There are not alot of good rentals out there – there’s a reason!

    May 15, 2008 at 6:20 PM #205384
    Anonymous
    Guest

    There are not alot of good rentals out there – there’s a reason!

    May 15, 2008 at 6:20 PM #205329
    Anonymous
    Guest

    There are not alot of good rentals out there – there’s a reason!

    May 15, 2008 at 6:20 PM #205300
    Anonymous
    Guest

    There are not alot of good rentals out there – there’s a reason!

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