[quote=sdrealtor]A young engineer with a good career full of promise got married and wanted to buy a house. He grew up in the gridlocked Nirvana and wanted to buy there but happened upon an older female agent with abroker license and 25 years in the business no less. She convinced him he should buy one of those prime 1950’s era homes, You know the ones you said were the best built of all. He looked and found one in one of those great neighborhoods far north of Adams Ave that you love to advocate. The house was not plagued with Mello Roos or an HOA and had what you would call unlimited possibilities. It was on a much bigger than normal lot for the area. Even though it was an SFR the lot was zoned multi-family. It would have gotten BG”s 5 star rating as a brilliant choice. So he leaped at the opportunity!
Don’t beleive my story? Ask jpinpb, she’s been in the house.
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A very nice spanish style north of Adams. Sadly, though, IMO, there is no way that house was worth what he paid for it at about peak. Unfortunate that they were in the predicament they were in and spent they money they did. I would like to say, it can happen to any of us. But I really can’t say that.
I am saying this and not to brag about my superior intelligence or great luck. I am neither smart, nor fortunate. I could’ve bought a house 5 years ago. I didn’t. We were in a bubble. Albeit a longer than usual bubble, but we were in one. Anyone who did not realize it this, well, either denial or just plain stupid.
Their first mistake was buying during a bubble. Buying an old house needs work. That’s a given. But you are saving on not having MR or HOAs. And buying a new house needs work too. Usually putting in a yard. Sometimes new homes have issues, also. And really in a few years of being in a new house, little things start to break or wear. Maintaining houses are expensive, new or old.
