115k loss in Scripps Ranch

[an]

SD R, the reason why I said I don’t understand the “haircut” reference is because the 2nd property that was mentioned is different than the first. The owner of the second property bought @ mid 500k, so even if he/she sell it for mid 600k, that’s still a gain. It doesn’t mean much if it could have sold for high 700k 2 years ago. To me, you can’t lose what you never had. So the 700k is just hypothetical until they sell.

[SD Realtor]

Got ya… sorry AN… btw Cobble Creek is right off of spring canyon… lots of noise.

SD Realtor

[what_a_disasta]

http://www.sdlookup.com/MLS-076038091-11294_Pepperview_Terrace_San_Diego_CA_92131

this listing has gone now. Is it possible to know if it sold and how much it went for?

[what_a_disasta]

http://www.sdlookup.com/MLS-076038091-11294_Pepperview_Terrace_San_Diego_CA_92131

this listing has gone now. Is it possible to know if it sold and how much it went for?

[SD Realtor]

It went pending. There are currently 3 Pepperview Terrace homes on the MLS, 2 are pending, 1 is not. No way to tell the price until it is sold.

SD Realtor

[SD Realtor]

It went pending. There are currently 3 Pepperview Terrace homes on the MLS, 2 are pending, 1 is not. No way to tell the price until it is sold.

SD Realtor

[DaCounselor]

“looks like a recent relist:
http://www.trulia.com/property/1039427022-11238-Pepperview-Ter-San-Diego…

a swift 100k haircut. I wonder what caused them to suddenly take the rose-tinted spectacles off.”
___________________________

I don’t understand the “haircut” reference here. The link provided shows an ’03 purchase for $545K and a list price of $799K. Even if they sell considerably down off of list, doesn’t it appear as if they will take a very nice profit on this deal? What does a “haircut” mean in this scenario?
___________________________

FYI – 11238 Pepperview closed on 5/15 for $783K. That’s $238K (44%) beyond the ’03 purchase. That’s a nice take.

[DaCounselor]

“looks like a recent relist:
http://www.trulia.com/property/1039427022-11238-Pepperview-Ter-San-Diego…

a swift 100k haircut. I wonder what caused them to suddenly take the rose-tinted spectacles off.”
___________________________

I don’t understand the “haircut” reference here. The link provided shows an ’03 purchase for $545K and a list price of $799K. Even if they sell considerably down off of list, doesn’t it appear as if they will take a very nice profit on this deal? What does a “haircut” mean in this scenario?
___________________________

FYI – 11238 Pepperview closed on 5/15 for $783K. That’s $238K (44%) beyond the ’03 purchase. That’s a nice take.

[what_a_disasta]

Hmm right on the Zestimate! What a coincidence.

What about 11294,11246 etc?

[what_a_disasta]

Hmm right on the Zestimate! What a coincidence.

What about 11294,11246 etc?

[what_a_disasta]

Assuming no cash back at closing, and after transaction costs, interest, tax etc are factored in to calculate total ownership costs, I wonder how they would have faired against someone renting a similar house for 2.5k who invested the 1.5k (they saved by not buying) over the same 4 year period. I would estimate that this home buyer would have been up at least $2.5k a month over that period against the renter.

[what_a_disasta]

Assuming no cash back at closing, and after transaction costs, interest, tax etc are factored in to calculate total ownership costs, I wonder how they would have faired against someone renting a similar house for 2.5k who invested the 1.5k (they saved by not buying) over the same 4 year period. I would estimate that this home buyer would have been up at least $2.5k a month over that period against the renter.

[an]

On the rent & save end, if you put away 1500/month toward saving at a saving rate of 5.5% over the last 4 years, you’ll have $80,000.

The $783k sold price would be $736k after 6% commission. So it would yield $191k profit after 4 years. So he/she still made over 2X what he/she could have made by rent and save. Obviously, if you shift that buy date to 2 years later, we’ll see how the numbers play out in 2 years. I highly doubt it would yield the same result.

[an]

On the rent & save end, if you put away 1500/month toward saving at a saving rate of 5.5% over the last 4 years, you’ll have $80,000.

The $783k sold price would be $736k after 6% commission. So it would yield $191k profit after 4 years. So he/she still made over 2X what he/she could have made by rent and save. Obviously, if you shift that buy date to 2 years later, we’ll see how the numbers play out in 2 years. I highly doubt it would yield the same result.

[beanmaestro]

Perfect hindsight, of course, is very convenient. For instance, if they put their $80k downpayment + $1500 a month into the Chinese stock market instead, and made 30% a year for four years, they’d end up with about $340k. Also, they wouldn’t have to move to liquidate their investment.

Now the question is, in early 2003, which horse would you bet on?

[Author]

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