[quote=flyer]BG, although I, personally, did not have the same home buying experiences you mentioned with regard to many Boomers, I do agree with your analysis of the changing dynamics at play.
When I mentioned that it seems the home-buying experience is becoming more challening today, I was actually referring to the costs involved, etc., (especially if you actually want to own the property),compared to when I was purchasing the bulk of our properties.
I know everyone has their preferences, but much as UCGal mentioned, most of my family, and my wife’s family has always been drawn to NCC (others just coastal) for climate, schools, easy commutes, etc., long before that lifestyle became so in vogue with the current crop of buyers. NCC living is not really a new way of life as many seem to believe.
At any rate, regardless of preferences, everyone should try to enjoy life, because, as you also said, it is short, and there is much to do![/quote]
flyer, I didn’t realize RSF and other communities situated inside the covenant were considered “NCC.” Nor is Carmel Valley, where you have stated here that you purchased rental investments. I would consider both of these areas “inland” but not far from the “coastal zone” as is dtn Chula Vista (~1 mile from SD Bay).
Before the heavy development of Sorrento Valley/Sorrento Mesa and Carroll Cyn Rd in Scripps Ranch, dtn SD, Mission Valley and Kearny Mesa WERE where most of the jobs were.
My workplace has always been centered in or near dtn SD so living <= ten miles from THERE has always been my preference .... and actually still is. And, contrary to popular (often misinformed) belief, there are many top-rated schools in metro SD and south county.
Obviously, if you were based out of SD when you flew, your “workplace” was Lindbergh Field, no? If so, it stands to reason that your fav streets in Sunset Cliffs are far more convenient to LF than RSF 🙂
Climate, schools and easy commutes can be found in several areas of the county 🙂
That was the thrust of my previous post. A good portion of today’s young-family prospective buyers seem to be shunning entire swaths of the county and there is no reason for it. The “prospective FT buyers” in SD County that are still doing this in the current RE climate are making their own beds, causing them to sleep in them as “perpetual tenants.”
IOW, don’t whine that there is “nothing to buy” when it just isn’t true. “Pickiness” never got a buyer anywhere in an era of rising prices, except back in their rental or a parent’s back bdrm.
From the article in the OP:
Ashley and Brian Standing have been house hunting for about a year, and they’re a little tired of the hunt.
In the past 12 months, the young San Diego couple have put in 80 to 100 offers on homes in the $500,000 to $750,000 range in areas like Point Loma, Ocean Beach and Bay Park. They admit some of their offers have been lowballs, but they learned quickly that those wouldn’t work. At times, they’ve tried bidding $20,000 to $30,000 above asking price but still nothing.
“It’s been insane,” Brian said. “When we first got into the market, there was still more inventory. I don’t know if at the beginning we were more picky as far as putting in offers. But over the last nine months, we’ve been operating as not-as picky.”
…The losers in many of these cases are traditional house hunters like the Standings.
“We’re definitely discouraged,” said Brian, who is a firefighter. “We’re staying with my wife’s parents, so that has given us the ability to be picky and be patient … We’re in this for the long haul.”
Ahem ….. Let me see if I have this story straight.
A “firefighter” and his spouse are making offers on “starter homes” in three of SD’s finest ‘hoods (unrealistic expectations, anyone?). All of these hoods are 50-85 years old. At first they were “picky,” lol, but now they have realized they shouldn’t be `as picky’ if they’re going to be a successful buyer in their price range (but they can afford to be picky for the long haul because they’re staying in mom’s back bdrm whilst saving more $$ during a time of rising prices) :=0
The Standings have made 80-100 offers over the last year, all to no avail. For the first ~3 months of their “search,” they were “lowballing” (equity sellers??) in SD’s finest ‘hoods :=D
Uhhhh … what did they expect would happen?
You have to ask yourself here, WHO is their agent? And is there ANYBODY steering this ship??
Good L@rd, this is just unbelievable . . . is the reader supposed to “feel sorry” for this couple?
I couldn’t have illustrated the “Gen-Y picky phenomenon” any better myself :=0
