[quote=natty]
had been meaning to get back to this.
im not questioning your long term investment vs flip.
you originally stated that you bought independent of cost at the time because you anticipate the value of your property to increase over time. you were willing to absorb ANOTHER 30% drop in value because of x,y,z. now you have gone to great lengths to explain that original thought process, but within those explanations seems to be the underlying idea that you will make money on your investment. that you see less risk in the area you purchased in vs. those you have selected to compare with. This is where confusion arrives.
this is point people are disagreeing with.
if you were to write you bought home in sky ranch because you loved it for aesthetic reason(view, lifestyle, shops, etc.) and that $ played no role now or in 30 years, I would fall in line and go on my way.
But that’s not what you are writing. You are now writing you bought there because you anticipate the value of your property to rise, you ‘believe’ in the entire community plan & residents, and you foresaw less risk at the time of purchase in this area vs. the other areas you looked.
Because you have convinced yourself you made the correct decision now & future, does not mean others are incorrect for questioning your logic & reasons in selecting the area at the assumed cost you did.[/quote]
That’s exactly my point… And thank you for stating it (again). Never said Santee is a dump or anything….What is so puzzling is the viewpoint that this is actually an investment that will appreciate and move contrary to the rest of the RE market in San Diego…or most of the rest of this country for that matter. Maybe some purchased before all the discounting that lennar is throwing at prospects now…
Anyway, it’s going to take a lot more to even break even, especially if one’s been making 2+ years of mortgage payments, hoa payments, property tax, etc versus, say renting…
