Carmel Valley questions

[jimklinge]

cvmom,

I think you’re on the right track, and getting great advice – make the decision that’s right for you. Consider the relief/lower stress component, you can’t put a number on it but it has value.

I’m a realtor, and we’ve been covering the CV market at http://www.bubbleinfo.com

I also have a youtube on hiring a listing agent:

http://www.youtube.com/watch?v=N-9qpueJik8

I just sold a comp for yours about a block away, and if you are considering other agents, I’d be happy to help you.

Jim the Realtor

[sdrealtor]

CVmom,
I think you are over reacting and on the verge of making a very bad decision. Consider that selling your $1M is going to cost you about $50,000 maybe more. Then consider that moving will cost you a several thousand dollars as well as disrupting your life for several months. Consider also that if you’ve been there a long time its the way you like it and making that 1300 sf home the way you like it is going to cost you a fair sum.

If you are selling for $1M and will net enough to pay cash for a $600K home you have a small mortgage which should and could easily rent it and be cash flow positive. SO that would be your worst case IMO. You live on a great quiet street tucked away in one of SD most desareable neighborhoods. Your neighbors have been there along time and are not highly leveraged. You have a low tax basis for a very nice home.

CV is a very strong market and will continue to be so. I’d get off the ledge. You have very little to fear.

sdr

Could you sell it in 30 days? Absolutely! But why would would you?

[sdrealtor]

CVmom,
I think you are over reacting and on the verge of making a very bad decision. Consider that selling your $1M is going to cost you about $50,000 maybe more. Then consider that moving will cost you a several thousand dollars as well as disrupting your life for several months. Consider also that if you’ve been there a long time its the way you like it and making that 1300 sf home the way you like it is going to cost you a fair sum.

If you are selling for $1M and will net enough to pay cash for a $600K home you have a small mortgage which should and could easily rent it and be cash flow positive. SO that would be your worst case IMO. You live on a great quiet street tucked away in one of SD most desareable neighborhoods. Your neighbors have been there along time and are not highly leveraged. You have a low tax basis for a very nice home.

CV is a very strong market and will continue to be so. I’d get off the ledge. You have very little to fear.

sdr

Could you sell it in 30 days? Absolutely! But why would would you?

[sdrealtor]

CVmom,
I think you are over reacting and on the verge of making a very bad decision. Consider that selling your $1M is going to cost you about $50,000 maybe more. Then consider that moving will cost you a several thousand dollars as well as disrupting your life for several months. Consider also that if you’ve been there a long time its the way you like it and making that 1300 sf home the way you like it is going to cost you a fair sum.

If you are selling for $1M and will net enough to pay cash for a $600K home you have a small mortgage which should and could easily rent it and be cash flow positive. SO that would be your worst case IMO. You live on a great quiet street tucked away in one of SD most desareable neighborhoods. Your neighbors have been there along time and are not highly leveraged. You have a low tax basis for a very nice home.

CV is a very strong market and will continue to be so. I’d get off the ledge. You have very little to fear.

sdr

Could you sell it in 30 days? Absolutely! But why would would you?

[sdrealtor]

CVmom,
I think you are over reacting and on the verge of making a very bad decision. Consider that selling your $1M is going to cost you about $50,000 maybe more. Then consider that moving will cost you a several thousand dollars as well as disrupting your life for several months. Consider also that if you’ve been there a long time its the way you like it and making that 1300 sf home the way you like it is going to cost you a fair sum.

If you are selling for $1M and will net enough to pay cash for a $600K home you have a small mortgage which should and could easily rent it and be cash flow positive. SO that would be your worst case IMO. You live on a great quiet street tucked away in one of SD most desareable neighborhoods. Your neighbors have been there along time and are not highly leveraged. You have a low tax basis for a very nice home.

CV is a very strong market and will continue to be so. I’d get off the ledge. You have very little to fear.

sdr

Could you sell it in 30 days? Absolutely! But why would would you?

[sdrealtor]

CVmom,
I think you are over reacting and on the verge of making a very bad decision. Consider that selling your $1M is going to cost you about $50,000 maybe more. Then consider that moving will cost you a several thousand dollars as well as disrupting your life for several months. Consider also that if you’ve been there a long time its the way you like it and making that 1300 sf home the way you like it is going to cost you a fair sum.

If you are selling for $1M and will net enough to pay cash for a $600K home you have a small mortgage which should and could easily rent it and be cash flow positive. SO that would be your worst case IMO. You live on a great quiet street tucked away in one of SD most desareable neighborhoods. Your neighbors have been there along time and are not highly leveraged. You have a low tax basis for a very nice home.

CV is a very strong market and will continue to be so. I’d get off the ledge. You have very little to fear.

sdr

Could you sell it in 30 days? Absolutely! But why would would you?

[Coronita]

[quote=sdrealtor]CVmom,
I think you are over reacting and on the verge of making a very bad decision. Consider that selling your $1M is going to cost you about $50,000 maybe more. Then consider that moving will cost you a several thousand dollars as well as disrupting your life for several months. Consider also that if you’ve been there a long time its the way you like it and making that 1300 sf home the way you like it is going to cost you a fair sum.

If you are selling for $1M and will net enough to pay cash for a $600K home you have a small mortgage which should and could easily rent it and be cash flow positive. SO that would be your worst case IMO. You live on a great quiet street tucked away in one of SD most desareable neighborhoods. Your neighbors have been there along time and are not highly leveraged. You have a low tax basis for a very nice home.

CV is a very strong market and will continue to be so. I’d get off the ledge. You have very little to fear.

sdr

Could you sell it in 30 days? Absolutely! But why would would you?[/quote]

I totally agree..
CVMom, there are many people who are in deep trouble. You aren’t even close to being one of them.

[Coronita]

[quote=sdrealtor]CVmom,
I think you are over reacting and on the verge of making a very bad decision. Consider that selling your $1M is going to cost you about $50,000 maybe more. Then consider that moving will cost you a several thousand dollars as well as disrupting your life for several months. Consider also that if you’ve been there a long time its the way you like it and making that 1300 sf home the way you like it is going to cost you a fair sum.

If you are selling for $1M and will net enough to pay cash for a $600K home you have a small mortgage which should and could easily rent it and be cash flow positive. SO that would be your worst case IMO. You live on a great quiet street tucked away in one of SD most desareable neighborhoods. Your neighbors have been there along time and are not highly leveraged. You have a low tax basis for a very nice home.

CV is a very strong market and will continue to be so. I’d get off the ledge. You have very little to fear.

sdr

Could you sell it in 30 days? Absolutely! But why would would you?[/quote]

I totally agree..
CVMom, there are many people who are in deep trouble. You aren’t even close to being one of them.

[Coronita]

[quote=sdrealtor]CVmom,
I think you are over reacting and on the verge of making a very bad decision. Consider that selling your $1M is going to cost you about $50,000 maybe more. Then consider that moving will cost you a several thousand dollars as well as disrupting your life for several months. Consider also that if you’ve been there a long time its the way you like it and making that 1300 sf home the way you like it is going to cost you a fair sum.

If you are selling for $1M and will net enough to pay cash for a $600K home you have a small mortgage which should and could easily rent it and be cash flow positive. SO that would be your worst case IMO. You live on a great quiet street tucked away in one of SD most desareable neighborhoods. Your neighbors have been there along time and are not highly leveraged. You have a low tax basis for a very nice home.

CV is a very strong market and will continue to be so. I’d get off the ledge. You have very little to fear.

sdr

Could you sell it in 30 days? Absolutely! But why would would you?[/quote]

I totally agree..
CVMom, there are many people who are in deep trouble. You aren’t even close to being one of them.

[Coronita]

[quote=sdrealtor]CVmom,
I think you are over reacting and on the verge of making a very bad decision. Consider that selling your $1M is going to cost you about $50,000 maybe more. Then consider that moving will cost you a several thousand dollars as well as disrupting your life for several months. Consider also that if you’ve been there a long time its the way you like it and making that 1300 sf home the way you like it is going to cost you a fair sum.

If you are selling for $1M and will net enough to pay cash for a $600K home you have a small mortgage which should and could easily rent it and be cash flow positive. SO that would be your worst case IMO. You live on a great quiet street tucked away in one of SD most desareable neighborhoods. Your neighbors have been there along time and are not highly leveraged. You have a low tax basis for a very nice home.

CV is a very strong market and will continue to be so. I’d get off the ledge. You have very little to fear.

sdr

Could you sell it in 30 days? Absolutely! But why would would you?[/quote]

I totally agree..
CVMom, there are many people who are in deep trouble. You aren’t even close to being one of them.

[Coronita]

[quote=sdrealtor]CVmom,
I think you are over reacting and on the verge of making a very bad decision. Consider that selling your $1M is going to cost you about $50,000 maybe more. Then consider that moving will cost you a several thousand dollars as well as disrupting your life for several months. Consider also that if you’ve been there a long time its the way you like it and making that 1300 sf home the way you like it is going to cost you a fair sum.

If you are selling for $1M and will net enough to pay cash for a $600K home you have a small mortgage which should and could easily rent it and be cash flow positive. SO that would be your worst case IMO. You live on a great quiet street tucked away in one of SD most desareable neighborhoods. Your neighbors have been there along time and are not highly leveraged. You have a low tax basis for a very nice home.

CV is a very strong market and will continue to be so. I’d get off the ledge. You have very little to fear.

sdr

Could you sell it in 30 days? Absolutely! But why would would you?[/quote]

I totally agree..
CVMom, there are many people who are in deep trouble. You aren’t even close to being one of them.

[cabal]

Definitely a mistake to sell based on the limited info provided. You have 600K equity, a paltry 400K mortgage by CV standards and dual income. What’s the problem? Since neither of you were laid off in 08/09, chances are your employment is reasonably secure. If you still have legitimate job security concerns, consider selling and renting.

If your original loan was large saddling you with high payments, consider refinancing to a 30 yr loan taking advantage of the historical low rates. You can still target paying the loan off in 15-20 yrs by making extra payments, while reserving the option to make the lower 30 yr amortized payment. However, if your current PITI can be covered by rent, I probably wouldn’t do anything. Worst case scenario you both lose your jobs, rent your house out and move the family to a small apt.

Regarding the 1300 sf house, it’s definitely too small for a growing family of four. Maybe ok if you’re a few yrs removed from dorm life and use to a minimalist lifestyle with milk crates for furniture. Realistically, it’s just a glorified apt with small 10’x10’ bedrooms, combo lr/dr/fr and a tiny kitchen. If your children are young, you will become increasingly miserable as your entire house morphs into a mold injection junkyard.

[cabal]

Definitely a mistake to sell based on the limited info provided. You have 600K equity, a paltry 400K mortgage by CV standards and dual income. What’s the problem? Since neither of you were laid off in 08/09, chances are your employment is reasonably secure. If you still have legitimate job security concerns, consider selling and renting.

If your original loan was large saddling you with high payments, consider refinancing to a 30 yr loan taking advantage of the historical low rates. You can still target paying the loan off in 15-20 yrs by making extra payments, while reserving the option to make the lower 30 yr amortized payment. However, if your current PITI can be covered by rent, I probably wouldn’t do anything. Worst case scenario you both lose your jobs, rent your house out and move the family to a small apt.

Regarding the 1300 sf house, it’s definitely too small for a growing family of four. Maybe ok if you’re a few yrs removed from dorm life and use to a minimalist lifestyle with milk crates for furniture. Realistically, it’s just a glorified apt with small 10’x10’ bedrooms, combo lr/dr/fr and a tiny kitchen. If your children are young, you will become increasingly miserable as your entire house morphs into a mold injection junkyard.

[cabal]

Definitely a mistake to sell based on the limited info provided. You have 600K equity, a paltry 400K mortgage by CV standards and dual income. What’s the problem? Since neither of you were laid off in 08/09, chances are your employment is reasonably secure. If you still have legitimate job security concerns, consider selling and renting.

If your original loan was large saddling you with high payments, consider refinancing to a 30 yr loan taking advantage of the historical low rates. You can still target paying the loan off in 15-20 yrs by making extra payments, while reserving the option to make the lower 30 yr amortized payment. However, if your current PITI can be covered by rent, I probably wouldn’t do anything. Worst case scenario you both lose your jobs, rent your house out and move the family to a small apt.

Regarding the 1300 sf house, it’s definitely too small for a growing family of four. Maybe ok if you’re a few yrs removed from dorm life and use to a minimalist lifestyle with milk crates for furniture. Realistically, it’s just a glorified apt with small 10’x10’ bedrooms, combo lr/dr/fr and a tiny kitchen. If your children are young, you will become increasingly miserable as your entire house morphs into a mold injection junkyard.

[cabal]

Definitely a mistake to sell based on the limited info provided. You have 600K equity, a paltry 400K mortgage by CV standards and dual income. What’s the problem? Since neither of you were laid off in 08/09, chances are your employment is reasonably secure. If you still have legitimate job security concerns, consider selling and renting.

If your original loan was large saddling you with high payments, consider refinancing to a 30 yr loan taking advantage of the historical low rates. You can still target paying the loan off in 15-20 yrs by making extra payments, while reserving the option to make the lower 30 yr amortized payment. However, if your current PITI can be covered by rent, I probably wouldn’t do anything. Worst case scenario you both lose your jobs, rent your house out and move the family to a small apt.

Regarding the 1300 sf house, it’s definitely too small for a growing family of four. Maybe ok if you’re a few yrs removed from dorm life and use to a minimalist lifestyle with milk crates for furniture. Realistically, it’s just a glorified apt with small 10’x10’ bedrooms, combo lr/dr/fr and a tiny kitchen. If your children are young, you will become increasingly miserable as your entire house morphs into a mold injection junkyard.

[Author]

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