…

[SDEaves]

[quote=bearishgurl]I just pm’d Pigg UR on your behalf to respond to this thread. There are a few newer bldgs in his stomping ground (ex: East Village) which had a few low-income units for sale when the projects were new.

Perhaps enough units have resold in these projects to be able to answer your question.[/quote]

[bearishgurl]

Jazzman, I’m sure you’re aware that you’re going to have to use those “devalued (US) dollars” to buy your retirement home in France!

I believe you about the thick walls in houses built in France 100+ years ago. I believe you about the “quaint” villages surrounding or adjacent to these homes. I SAW the tiny home (3rd listing w/spiral staircase or ladder inside) in the middle of a forest.” I KNOW they are the “real deal.”

Yes, original Tudors or Victorians (with turrets) in CA would be over 85 yrs old and framed in wood. However, they may very well have a Mills Act contract in place, making their taxes very low. We have a few of them right here in Chula Vista which are just as big or bigger than listing #1 (in France).

There are even a few 75+ yo rock houses of over 2000 sf in Pasadena (one of your desired cities)!

I liked the first and second listings very much. I just don’t think they were all that big or equipped for the prices they were asking. However, listing #1 was “big enough” and had very rustic woodwork, which I liked.

You compared these listings in France to SoCal. I did not use any SoCal comparisons to your listings in France. I used central/northern Cal locations. THOSE are the locations in Cali which have properties comparable to listing #l in the same price range. There are others but I was trying to stay near those “coveted coastal areas” where you were shopping in CA. Your last post, however, reveals the type of property you REALLY wanted all along.

Perhaps when you first set out on your “CA shopping expedition,” you were unaware of the style of home you really wanted so you scoured a lot of locales in which you didn’t like the architecture, ambiance, “feel,” construction mat’ls … whatever. I don’t know. And if you DID know exactly what you wanted, then why would you have bothered standing in line (yawn) for shorts, distress sales and new construction when you could have just sought after properties with orchards, turrets, latticework gazebos with mature bougainvillea, rolling grassy lawns, stonework, archways, etc?

Yes, all “real” right here in Cali.

Do you realize that there are many RE brokers in CA who specialize in finding clients just this type of property anywhere in the state? With a <=$1M price range, I'm confident that you could have landed a property (prob w/lgr house and lot than France) that you would have been very happy with, but for a little needed work you could have done as time permitted. Especially during the time frame you were heavily shopping in. I now see that your problem, in my perspective, was that you were shopping in locales that either didn’t have the type of properties you really wanted or they DID but they were out of your price range. Uhh, hello . . .? Jazzman, are you out there?? I’m unclear if your agent told you this but you can’t just waltz into Palo Alto, SB, LJ, Coronado or Marin Co and expect to snap up one of these types of properties for a cool $1M. Not unless it’s currently uninhabitable and you have a bulldozer at the ready. And you can’t compare those CA coastal locales’ property values to your inland France listings. They are apples and oranges.

Not to belabor the issue any further, but the way I now see you situation, you had your sights set on a more valuable property in CA (w/poss room for appreciation) than you now do in France, which brings me to my next question, “Do residential properties in France appreciate in value?”

In my “comparison” post, I was attempting to compare the physical characteristics of France v CA properties and leave the “culture” out of it. Because your listings, however “charming,” are NOT coastal and NOT situated near job centers. If you now want to retire in France because of the “culture,” that has nothing to do with RE. You can rent there and enjoy the culture.

I don’t know if the quality of life for a retiree would be better in France or in the France-comparison (CA) areas I just posted. But, for you, they would have been much closer to family members. I don’t know very much about French culture. Maybe someday I’ll visit :=]

[bearishgurl]

My posts were really not about Jazzman at all. I’m happy that he is happy where he has chosen to retire. And UCGal, I’m not dead set on “retiring” in Tahoe 🙂

My posts on this thread were aimed at hundreds of posts I’ve seen on here for years advising (primarily FTB) posters that they “shouldn’t buy” due to [any number of political factors we can’t control]. I don’t care if this OP wants to wait and save up more money. But I think the arguments used by these “doomsayer” posters (ESP the ones that were highly motivated to buy, qualified to buy . . . but didn’t – Jazzman and many others come to mind) aren’t valid because they are comparing apples to oranges.

This OP-FTB thanked Jazzman for his “sage” advice, lol, yet he wasn’t successful in purchasing a home here! Of course, the OP didn’t know that until I pointed it out.

I’m not employed by any Chamber of Commerces or a lobbyist for any agencies in Sac but I just see a lot of disingenuousness in posters trying to say Cali is not worth buying in but [other place] is (however unzoned, lack of infrastructure, etc).

ESP when we are talking here about someone who needs to buy close to work. How is Jazzman’s situation even comparable to the OP’s?

I understand different strokes for different folks.

No one is going to buy (ESP a confused FTB) if they look and look and look and hear one thing from one “expert,” another thing from another “expert,” and then all the daily crap spewing from the MSM about the housing market.

That’s why a very experienced neighborhood agent/broker or specialty broker (as in Jazzman’s case) is worth their weight in gold.

And no, I’m not currently a member of CAR/NAR.

Buyers need to be told straight up what they can and can’t do with the resources they have. They need to be helped to find a suitable property by a qualified agent, which they can qualify to make an offer on, unless they decide to suspend their search until a later date.

[Jazzman]

[quote=bearishgurl]Jazzman, I’m sure you’re aware that you’re going to have to use those “devalued (US) dollars” to buy your retirement home in France!

Maybe someday I’ll visit :=][/quote]

There we go with assumptions again. The purchase will be funded with mostly euros. Even if it weren’t the price differential still makes it attractive all things considered.

You really should visit, not because I want to prove my point, but because it will open your eyes to a world beyond San Diego. There aren’t huge cultural differences, but the subtle shifts in emphasis are rewarding to explore. You can then come back and write long essays, about how Jazzman was maybe onto something 🙂

[FlyerInHi]

Well said, Jazzman. Hard to convince Americans who don’t go anywhere that their way of life is not the best. It’s a big work out there, go and explore it.

[Jazzman]

[quote=bearishgurl]But I think the arguments used by these “doomsayer” posters (ESP the ones that were highly motivated to buy, qualified to buy . . . but didn’t – Jazzman and many others come to mind) aren’t valid because they are comparing apples to oranges.

This OP-FTB thanked Jazzman for his “sage” advice, lol, yet he wasn’t successful in purchasing a home here! Of course, the OP didn’t know that until I pointed it out.

Buyers need to be told straight up what they can and can’t do with the resources they have. They need to be helped to find a suitable property by a qualified agent, which they can qualify to make an offer on, unless they decide to suspend their search until a later date.[/quote]

Well I’m not clear the fact that I didn’t buy in CA disqualifies me from responding to the OP, or that the advise was somehow amusing. I also like to think that I was “successful” by not buying in CA. Logic seems to have eluded you somewhere along the line. However, I agree that buyers need to be told straight up, which includes suggestions other than from those connected professionally to real estate, as they provide useful antidotes to the rot that got us into this mess. I am very aware of the irritation (exempli gratia “doomsayers”) caused to business-as-usual Realtors, but I have no sympathy. Nothing personal BG.

[bearishgurl]

[quote=Jazzman][quote=bearishgurl]But I think the arguments used by these “doomsayer” posters (ESP the ones that were highly motivated to buy, qualified to buy . . . but didn’t – Jazzman and many others come to mind) aren’t valid because they are comparing apples to oranges.

This OP-FTB thanked Jazzman for his “sage” advice, lol, yet he wasn’t successful in purchasing a home here! Of course, the OP didn’t know that until I pointed it out.

Buyers need to be told straight up what they can and can’t do with the resources they have. They need to be helped to find a suitable property by a qualified agent, which they can qualify to make an offer on, unless they decide to suspend their search until a later date.[/quote]

Well I’m not clear the fact that I didn’t buy in CA disqualifies me from responding to the OP, or that the advise was somehow amusing. I also like to think that I was “successful” by not buying in CA. Logic seems to have eluded you somewhere along the line. However, I agree that buyers need to be told straight up, which includes suggestions other than from those connected professionally to real estate, as they provide useful antidotes to the rot that got us into this mess. I am very aware of the irritation (exempli gratia “doomsayers”) caused to business-as-usual Realtors, but I have no sympathy. Nothing personal BG.[/quote]

Jazzman, you put your thoughts here into a “nutshell” so succinctly that I don’t have to 😉

IMHO, the fact that you didn’t listen to your realtor(s)’ “useful antidotes” (sic) up and down the state IS the sole reason why you couldn’t make an acceptable deal for yourself in Cali after all that time, frustration and gas you burned “shopping.” You have now chosen to retire elsewhere, even though you and your spouse very badly wanted to stay. And that’s okay …. for YOU.

http://piggington.com/8_years_later_it_happened_we_bought_a_home#comment-206393

Hopefully, you will not have to deal with one of those “crooked, self-serving RE professionals” while attempting to purchase in France :=D.

After all, you know everything already and can let yourself into the properties you want to see, write your own offers to purchase and counteroffers there and open your own escrow (if that’s what they call it there), right?

Nothing disqualifies you from saying anything you want on this forum (within reason). But you well knew that your situation as a prospective buyer was inapposite to that of the OP’s, you knew that you posted your recent CA RE-buyer experience here on this forum in infintesimal detail and yet you essentially told the OP that you “distrusted” realtors (so he should, too) and that `the market is getting worse so he should suspend his search,’ lol. You posted the following link to support this assertion:

http://www.deptofnumbers.com/asking-prices/california/san-diego/

The link actually shows the resale inventory in SD County has been going down every month for the last 76 months (6.33 yrs), except for 2/07 thru 9/07 and 11/09 where it spiked a little (likely due to Frannie’s REO’s being dumped on the local market) and 7/10 thru 9/10 (immed after the homebuyer tax credits expired). It also shows that 425 properties sold in August 2012, 390 properties sold in September 2012, 598 properties sold in October 2012 and median asking prices for the last year-plus have been hovering about +/-$4K above what the OP states he can qualify to buy. County inventory as of 11/1/12 was 8963 and the current median asking price was $382,500 ($22,500 over the OP’s price range).

Now, it’s not the end of the world that the OP can’t qualify to purchase the median-priced property in SD County and maybe he can. Depending on area of county, there are many factors determining what a “median-priced” property actually looks like. Instead of making constructive realistic suggestions to a poster like this (there have been dozens before him), as I did, you basically told him that this inventory shortage was going to “blow over” and so he should suspend his search for now. In my “expert opinion,” that’s not a good plan for this family IF they want to own their own home in SD County. (This opn is based solely upon the OP’s posts.)

I’ve got news for you, Jazzman. There are MANY THOUSANDS of “potential sellers” in SD County who don’t have to sell now, next year, the year after that … or EVER if local market conditions don’t suit them. Yes, even if their property is currently vacant and/or is used for storage. And they are not averse to placing tenants in them to wait for a “better day.” The same could be said of longtime homeowners throughout the state. I don’t see this “inventory problem” getting any better (esp at the OP’s price point) until sold prices firm up another 20-25%.

A FTB with 3 young kids NEEDS his/her realtor and NEEDS to keep searching and making offers while we’re experiencing the lowest mtg interest rates in history (folks, it doesn’t get any cheaper than this to borrow purchase $$)! It’s nothing personal, Jazzman, but when they listen to drivel advising them to suspend their search, it distracts them from what they need to focus on, which, unlike you, is to find a house to raise their growing family in.

Jazzman, why don’t you ask yourself why Piggs aren’t coming forward in droves advising this OP where to search for a home. Did you ever think it might be because it “just ain’t easy” given his price point and preferred commute-time restraints? ESP if one is only familiar with the communities in their backyard and they are all too expensive for this situation and aren’t getting any cheaper.

Your “sage advice” to the OP here has nothing to do with “irritation.” I’m not a realtor, the OP has a realtor and trust me when I tell you that your statements aren’t taking any biz away from me. I’m currently “busier” that I want to be and would like to get out of this chair a little more often ;=]

[Jazzman]

[quote=bearishgurl]

Your “sage advice” to the OP here has nothing to do with “irritation.” I’m not a realtor, the OP has a realtor and trust me when I tell you that your statements aren’t taking any biz away from me. I’m currently “busier” that I want to be and would like to get out of this chair a little more often ;=][/quote]

Of course you aren’t irritated BG, and I’m glad you still find the time to write such long posts and with such frequency being “busier than [you] want to be…” with whatever it is you do that is, or isn’t related to RE.

Anyway, apologies to OP for the thread jack. Here endeth the lesson. Amen! Over and out!

[SDEaves]

[quote=urbanrealtor][quote=SDEaves]These income-qualified units are being sold for 20 percent less than regular sale units.
No holding clause but they would only be able to resell their unit to another income-qualified person/family.
When you go to sell your regular unit, would those affordable housing comps be excluded from comparison to the regular sale?
Seems like there should be some special provision to protect regular resale but not sure?[/quote]

Re resale:
Typically, the units I have dealt with, have a 40 year deed rider that ties the resale value of the property to the median county income. That means that if values spike, you sell at the income-defined price (which would be below market). Likewise, if the values tank, you sell ABOVE market (or, rather, fail to sell).

In other words, you have all the risk of being a homeowner with virtually none of the rewards (except static cost of housing). Without some speculative potential reward, there really is not a huge incentive to buy.

Re appraisal:
By definition, the affordable units are not open market sales. However, not all appraisers know about this program and not all listing agents mention it in the remarks. Therefore, I have had multiple appraisals plopped on my desk when my loan officer (who has the desk next to mine) says “What the fuck is this?!!!”.

In other words, it shouldn’t affect normal sales but in practice it does because the deed riders and restrictions don’t show on databases as they should.

I am a liberal and a believer in government helping the less privileged.
This is not an example of that help.
This is a terrible program and only will cause hurt to owners.
Avoid it.[/quote]

[SDEaves]

[quote=UCGal]BG – I love you to death but I have to wonder why you get so dogged and rude to other posters on this site.

What did Jazzman ever do to you that you basically called him a liar on the property tax thing? And just because you dream of retiring to Tahoe, doesn’t mean his dream of retiring to Europe isn’t equally valid.

Seriously – I’m a fan of the way you dig into any topic… and provide links and details. But I can’t figure out why you went after Jazzman so hard and called him a liar. If he says he paid his taxes – who are you to dispute that?

I get the European home dream. I’ve got that dream myself except in southern Italy. And like spdrun – my family has dual citizenship – so the legalities are easier.

Not sure why you’d not include halls in the square footage for French homes… they’re included in the sf of our homes.

Jazzman – I love that 2nd home with the summer guest house.[/quote]

[CA renter]

Jazzman,

Not sure what your situation in CA is, but if you ever want to do a house trade (weeks, months???), let me know! 🙂

[flyer]

This is the first time I’ve read through this thread, and, although it seems to have gone very OT, it is a great read.

We spend lots of time in France, Hawaii, and many other spots we love around the world, and completely understand how you feel about living in both, Jazzman.

My wife, in particular, lives for France. When she was young, she studied music there for about three years at the University of Paris-la Sorbonne, and has gone back every year since.

We’ve spent a month at a time or more in just about every country, but are particulary drawn to the countrysides of France and Italy.

Each seem to have a “soul” about them that you just don’t find elsewhere, and it’s something that stays with us, even when we come back to RSF.

Enjoy!

[Author]

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