5yes, every day I get less sleep and I’m buying advil at Costco in the 5 gallon buckets. I honestly don’t know what to do. I found a repo that I like and fits my needs in the area I wan’t with a list of 300k and was thinking of getting SD Realtor to write an offer for me for 250k, I was thinking of renting the same model on that street for $1850 but when I run the numbers, my out the door cost with 20% down is less than rent not even counting the tax benefit. Even with 10% down and pmi it is a tie. That side of my brain argues with the side that knows it will keep going down, I would say that that it can drive a man to drink, but it’s me were talking about, not getting the right parking spot can drive me to drink. Hell getting the right parking spot is reason to celebrate and you can’t celebrate without champagne. Drinking aside, the reason i worry about Standard Pacific is that unlike the Redwood referenced earlier, their Cottonwood and Laurel tracts have some screaming deals and that same stoppage on construction. They are pouring a bunch of pads right now for April/May move in and have some standing inventory but nothing in between (they didn’t staart anything for six months). I am afraid to buy the standing inventory and live next to empty lots but May would require me to rent for less than six months so the timing sucks. I either move in March 08 or not until September 08, one is too soon and one too late. I fear the builders are going to start cheapening their stuff and using cheaper methods, it’s common in mid downturn, I was hoping for something planned during the good times and sold in the bad. They are basically knocking more that 25% off from last month and about 40% from last year. Salesperson said their corporate office decided they would lose less money selling for less than sitting on the land. I wonder what will happen to Del Sur if the company goes under. Oops, it’s almost 8 p.m., time to drink, I’ll start trying to rule the world bright and early tomorrow.
