SDR, as you know, there’s ‘value’ and there’s ‘price.’ As Warren Buffett said, ‘Short-term, markets are voting machines, but long-term, they’re weighing machines.’ I’m a finance guy by education and experience, and it’s good to figure out ‘value,’ then try to get that, or below that, in ‘price.’ But, there are clearly good-sized confidence bounds around estimates of value.
PS, we send our kids to private schools in La Jolla. We used to live in a McMansion (4.5K sq. ft.) in Santa Fe Valley, just west of 4S, but the drive down was a pain, hence, the move to La Jolla.
Perry, our situation is similar: the house is owned by the original owners (over 50 years), is paid off, and has property taxes of $1.2K annually. We won’t be able to buy this house, as it will remain in the family, but we’d like to buy something similar.
