[[quote=bearishgurl][quote=Scarlett]. . . But it’s highly unlikely that in a neighborhood (not just 1 block) more than half of the adult professionals with kids will move out in short time span – AND that no people with kids will move in.[/quote]
Scarlett, I think a neighborhood is more likely to change if most of its residents are worker-families. It changes because workers lose their jobs (and eventually, house). It changes because workers change jobs and sell. It changes because a family grows and needs a bigger place, so sells. In a neighborhood of mostly retirees, the population is more stable. [/quote]
Yes, but they also sell – die, move to nursing homes or with their kids, etc. or worse, rent it out. What about retirees who have to sell their homes to have money to live – equity is all they have. And as I said, other people move in. Workers/professionals come and go – jobs change quickly. But still many of them will flock to those areas with good schools – e.g. PQ, RB.
[quote=bearishgurl]You seem to have been waiting a long time already, Scarlett. (…) except that the interest rates may not be as favorable, making your price-range less. Yes, some of the aforementioned areas on your “list” could fall in value more as distressed property is sold off in those areas creating lower sales comps. But don’t expect to see UC take a nosedive. I just looked at SD Transplant’s site showing a map of distressed properties he/she posted today. According to it, there are three 4/2/2 SFRs currently situated in UC where a Notice of Sale has been filed and two SFRs where a Notice of Default has been filed.
Compare these numbers to PQ, CMR or SR and MM.[/quote]
I am actually counting on the distressed sales to bring the prices down more in those areas. And thanks for pointing that out about UC so I shouldn’t waste too much time waiting for it.
I am interested much more in the sales price not in the rate. And I don’t see the rates increasing dramtatically over the next couple of years, even though I am HOPING for it.
[quote=bearishgurl]No, they are not “inferior locations” in and of themselves but are “inferior locations to UC,” especially in your case, since you work near UC. That’s why UC is more expensive. Location is the most important factor in determining value of RE in CA coastal counties. There’s nothing anyone can do about this. [/quote]
I disagree they are inferior to UC. They are farther away by 5-10 miles from our current workplaces, yes, but like you said it’s a trade off for more modern/newer houses and other amenities. Each area has their good points and bad points.
