Advice needed from the pros

[SD Realtor]

Mercedes and Seaward you guys are not alone in the zips you have mentioned and the price points as well.

I think that 92122, 92124, and 92131 have the potentially the highest probability of price reductions in the next 1-2 years out simply because of the current median prices in those areas.

92126 is a bit tougher of a play. The 300k 1200 sf 92126 seems to have hit a support level that is not just consisting of purchases by owner occupants but also of investors as well. So I think it will be challending to see that having alot of play left in to the downside but I suppose anything could happen with an inventory flood.

92129 is crazytown right now. I can see it going back down again but even in the hard slide of late 08 it seemed to find support levels in the high 400s and mid 500s depending on which part of 92129 you were looking in. There are some really strong elementary schools down off of Black Mountain Road that draw alot of homeshoppers there.

Other areas you guys may want to consider could be 92119 or 92124 as well. A little lower price but also lower desired may be 92123.

*************

I know I am not giving you answers you crave though. I know you really want to know will it be worthwhile to wait. Can I promise you a 15% decline in a year or two? I cannot. I wish I could. If there was not wizard of barney frank I would be more confident. If the market were not manipulate and if the government was not controlled by Wall St I would say yes. Surely unemployment and distress would cause one to say this is a no brainer. I still say that your best bet is a hope of China shutting down the credit pipeline causing interest rate shock. Sorry for not being able to give you a for sure… Maybe in a few months things will trend in a more clear direction. Sounds like you both have some time which is good. Lets see how things look in the spring.

[TheSeaward]

Thanks for the helpful advice. I was looking at Bay Park, Bay Ho, and parts of Clairemont as well. A little older and worse school districts, but doesn’t matter for me with no kids in the picture for at least 5 years or so. Mira Mesa looks like a pretty attractive option… correct me if I am wrong, but the competition doesn’t seem as stiff there, possibly due to the perception of the neighborhood?

Buying a place cash sounds very tempting, but I can’t deal with the commute to Temecula and condos in town don’t have yards sadly.

[TheSeaward]

Thanks for the helpful advice. I was looking at Bay Park, Bay Ho, and parts of Clairemont as well. A little older and worse school districts, but doesn’t matter for me with no kids in the picture for at least 5 years or so. Mira Mesa looks like a pretty attractive option… correct me if I am wrong, but the competition doesn’t seem as stiff there, possibly due to the perception of the neighborhood?

Buying a place cash sounds very tempting, but I can’t deal with the commute to Temecula and condos in town don’t have yards sadly.

[TheSeaward]

Thanks for the helpful advice. I was looking at Bay Park, Bay Ho, and parts of Clairemont as well. A little older and worse school districts, but doesn’t matter for me with no kids in the picture for at least 5 years or so. Mira Mesa looks like a pretty attractive option… correct me if I am wrong, but the competition doesn’t seem as stiff there, possibly due to the perception of the neighborhood?

Buying a place cash sounds very tempting, but I can’t deal with the commute to Temecula and condos in town don’t have yards sadly.

[TheSeaward]

Thanks for the helpful advice. I was looking at Bay Park, Bay Ho, and parts of Clairemont as well. A little older and worse school districts, but doesn’t matter for me with no kids in the picture for at least 5 years or so. Mira Mesa looks like a pretty attractive option… correct me if I am wrong, but the competition doesn’t seem as stiff there, possibly due to the perception of the neighborhood?

Buying a place cash sounds very tempting, but I can’t deal with the commute to Temecula and condos in town don’t have yards sadly.

[TheSeaward]

Thanks for the helpful advice. I was looking at Bay Park, Bay Ho, and parts of Clairemont as well. A little older and worse school districts, but doesn’t matter for me with no kids in the picture for at least 5 years or so. Mira Mesa looks like a pretty attractive option… correct me if I am wrong, but the competition doesn’t seem as stiff there, possibly due to the perception of the neighborhood?

Buying a place cash sounds very tempting, but I can’t deal with the commute to Temecula and condos in town don’t have yards sadly.

[paramount]

Wow, just pump up the already inflated ego’s and expect great responses.

[paramount]

Wow, just pump up the already inflated ego’s and expect great responses.

[paramount]

Wow, just pump up the already inflated ego’s and expect great responses.

[paramount]

Wow, just pump up the already inflated ego’s and expect great responses.

[paramount]

Wow, just pump up the already inflated ego’s and expect great responses.

[mercedes7]

Seaward…I work in Serra Mesa, 92123. Guess we are competition, but don’t worry, I’m a pushover.

SD Realtor…thanks for your perspective. I will continue to look, but have decided not to jump into anything unless/until I find something I really like. Will be looking daily this winter.

I am not convinced that all this government intervention will (in the end) save our economy, but that remains to be seen. At some point these banks have to start taking possession of these homes and ultimatley dispose of them some how. Very interesting thread right now about people living in homes for a long time and not making their payments, thus providing extra cash flow to do other things with. Eventually that has to stop. As far as interest rates, Geither came out with news that they would be lengthing bond maturities which should steepen the yield curve and cause interest rates to tick up a bit (we shall see).

Temeculaguy, I read your forum with interest when you bought your house. I think you have a pretty interesting perspective on the SD market too, as you were the one who argued that there will be a floor under certain areas. That got me to thinking and start looking. Temecula would be too far of a commute, but the idea of having no house payment is tempting.

Anyway, thanks for info…I’ll keep you posted.

[mercedes7]

Seaward…I work in Serra Mesa, 92123. Guess we are competition, but don’t worry, I’m a pushover.

SD Realtor…thanks for your perspective. I will continue to look, but have decided not to jump into anything unless/until I find something I really like. Will be looking daily this winter.

I am not convinced that all this government intervention will (in the end) save our economy, but that remains to be seen. At some point these banks have to start taking possession of these homes and ultimatley dispose of them some how. Very interesting thread right now about people living in homes for a long time and not making their payments, thus providing extra cash flow to do other things with. Eventually that has to stop. As far as interest rates, Geither came out with news that they would be lengthing bond maturities which should steepen the yield curve and cause interest rates to tick up a bit (we shall see).

Temeculaguy, I read your forum with interest when you bought your house. I think you have a pretty interesting perspective on the SD market too, as you were the one who argued that there will be a floor under certain areas. That got me to thinking and start looking. Temecula would be too far of a commute, but the idea of having no house payment is tempting.

Anyway, thanks for info…I’ll keep you posted.

[mercedes7]

Seaward…I work in Serra Mesa, 92123. Guess we are competition, but don’t worry, I’m a pushover.

SD Realtor…thanks for your perspective. I will continue to look, but have decided not to jump into anything unless/until I find something I really like. Will be looking daily this winter.

I am not convinced that all this government intervention will (in the end) save our economy, but that remains to be seen. At some point these banks have to start taking possession of these homes and ultimatley dispose of them some how. Very interesting thread right now about people living in homes for a long time and not making their payments, thus providing extra cash flow to do other things with. Eventually that has to stop. As far as interest rates, Geither came out with news that they would be lengthing bond maturities which should steepen the yield curve and cause interest rates to tick up a bit (we shall see).

Temeculaguy, I read your forum with interest when you bought your house. I think you have a pretty interesting perspective on the SD market too, as you were the one who argued that there will be a floor under certain areas. That got me to thinking and start looking. Temecula would be too far of a commute, but the idea of having no house payment is tempting.

Anyway, thanks for info…I’ll keep you posted.

[mercedes7]

Seaward…I work in Serra Mesa, 92123. Guess we are competition, but don’t worry, I’m a pushover.

SD Realtor…thanks for your perspective. I will continue to look, but have decided not to jump into anything unless/until I find something I really like. Will be looking daily this winter.

I am not convinced that all this government intervention will (in the end) save our economy, but that remains to be seen. At some point these banks have to start taking possession of these homes and ultimatley dispose of them some how. Very interesting thread right now about people living in homes for a long time and not making their payments, thus providing extra cash flow to do other things with. Eventually that has to stop. As far as interest rates, Geither came out with news that they would be lengthing bond maturities which should steepen the yield curve and cause interest rates to tick up a bit (we shall see).

Temeculaguy, I read your forum with interest when you bought your house. I think you have a pretty interesting perspective on the SD market too, as you were the one who argued that there will be a floor under certain areas. That got me to thinking and start looking. Temecula would be too far of a commute, but the idea of having no house payment is tempting.

Anyway, thanks for info…I’ll keep you posted.

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