- This topic has 98 replies, 24 voices, and was last updated 8 years, 8 months ago by
mixxalot.
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August 30, 2015 at 10:24 AM #789024August 30, 2015 at 11:48 AM #789025
mixxalot
ParticipantI see a lot of wild speculators from China driving up markets in California especially in Irvine, San Francisco, Los Angeles and Palo Alto. Inland is much less expensive for example same house in Point Loma or Del Mar can be bought for half price at like 400-500K versus 2MM. If you are willing to live 20 miles from the beach that is. My goal is buy a cheaper inland property for 500K and have a fun sailboat in a nice marina and be able to enjoy both worlds.
August 30, 2015 at 12:20 PM #789027bearishgurl
Participant[quote=mixxalot]I see a lot of wild speculators from China driving up markets in California especially in Irvine, San Francisco, Los Angeles and Palo Alto. Inland is much less expensive for example same house in Point Loma or Del Mar can be bought for half price at like 400-500K versus 2MM. If you are willing to live 20 miles from the beach that is. My goal is buy a cheaper inland property for 500K and have a fun sailboat in a nice marina and be able to enjoy both worlds.[/quote]
mixxalot, your idea is doable, especially if you already own your sailboat and don’t have to buy one (new or used). There are a couple of things you should bear in mind, however.
In SD, a slip for a 30’+ sailboat costs over $700 month.
In SD County, you CAN find a property in Lakeside, EC or Esco (20+ mi east of the ocean) to trailer your 30+ foot sailboat to and park it on the premises. HOWEVER, these properties will very likely cost you at $575K++ unless you’re okay with buying a very heavy fixer and rehabbing it as time and money permit. There are a few of these properties still out there but they are getting further and fewer between.
And don’t forget to factor in at least an additional $750 year for A/C for the hot months as well as any additional daily commute time (and gas) those locations create for you.
If I were you and had this goal, I’d look for a place I could park my own boat/RV ASAP (with at least a 15 x 40 extra parking space (at a minimum and preferably behind a fence). They aren’t going to get any cheaper … regardless of condition. You don’t want to be at the mercy of boat slip rent hikes out on the bay while simultaneously having to pay monthly homeowner-related bills (which you are not yet paying?), IMO. After you get your *new* place livable, THEN you can buy that sailboat (if you don’t already own one).
I sound a bit like Suze Orman here, lol …. :=0
August 30, 2015 at 12:32 PM #789028Participantmixxalot, here’s a search link for you for East SD County. Some of these homes are in pretty good shape but only the first 12 listings (priced low to high) are listed at less than $500K.
In addition, 5 out of the first 12 listings are “short-sale” listings, meaning their lenders may not accept an offer under $500K (or anywhere near what the wishful seller and their agent) are hoping they accept.
August 30, 2015 at 12:38 PM #789029XBoxBoy
Participant[quote=Leorocky]Shadowstats is not a reputable source.[/quote]
I often wonder how much faith to put in Shadowstats. Can you back your claim up with some real data? Solid evidence that they are not reliable?
August 30, 2015 at 3:20 PM #789034
Rich ToscanoKeymaster[quote=XBoxBoy][quote=Leorocky]Shadowstats is not a reputable source.[/quote]
I often wonder how much faith to put in Shadowstats. [/quote]Roughy 0 faith, would be my suggestion.
I discussed it a bit in this thread, noting among other things that he pretty much just adds a fixed number to BLS CPI each month:
http://piggington.com/interesting_site
That is fairly useless, but worse yet the plug number he adds appears to be way off. Here’s more from Doug Short showing some real-world numbers to demonstrate that the shadowstats numbers can’t possibly be right:
http://www.advisorperspectives.com/dshort/updates/Regression-to-Trend-Aternate-CPI.php
August 30, 2015 at 3:37 PM #789036Rich ToscanoKeymasterOne more good background piece on shadowstats: https://mikeashton.wordpress.com/2014/05/20/hot-button-issue-rant-warning/
(from Mike Ashton, a dude who really has expertise on the CPI and inflation in general)
August 30, 2015 at 7:15 PM #789041utcsox
Participant[quote=Rich Toscano][quote=XBoxBoy][quote=Leorocky]Shadowstats is not a reputable source.[/quote]
I often wonder how much faith to put in Shadowstats. [/quote]Roughy 0 faith, would be my suggestion.
I discussed it a bit in this thread, noting among other things that he pretty much just adds a fixed number to BLS CPI each month:
http://piggington.com/interesting_site
That is fairly useless, but worse yet the plug number he adds appears to be way off. Here’s more from Doug Short showing some real-world numbers to demonstrate that the shadowstats numbers can’t possibly be right:
http://www.advisorperspectives.com/dshort/updates/Regression-to-Trend-Aternate-CPI.php%5B/quote%5D
I disagree the premise sites like shadow stats are useless. You see government official numbers that are not aligned with our perception; they must be incompetent or lying. Only numbers that fit with out political bellieve and our perception are the “truth”. See link below for more details:
http://piggington.com/ot_september_2012_jobs_report_very_suspicious
August 31, 2015 at 6:49 PM #789056ParticipantI found a lot of places even for under 400K in Santee area:
Now if you can get a sailboat under 30′ then slip fees are doable at 500/month:
http://www.harborislandwest.com/slip-rates.html
I plan on a 25′ Catalina sailboat with two heads and two cabins with galley. That puts me at under $400 for slip fee. So factor a $3K mortgage plus $500 slip fee not too bad for best of both worlds.
Actually since I am also a pilot, I’ve looked at buying a home outside of California in place like Nevada, Arizona or Oregon where prices are even cheaper!
So a plane at 80K plus sailboat at 10K plus home in OR/NV/AZ at $200-300K that makes a monthly nut of 3-4K to have all toys accounted for and tax breaks for business. Or live in cheaper part of California like Chico or Oregon coast.
September 1, 2015 at 5:23 AM #789057flyer
ParticipantI believe it is still possible to enjoy the best of all worlds, as we’ve done over the past many years. With a little strategic planning, your dreams can definitely become a reality.
September 1, 2015 at 5:32 AM #789059CA renter
Participant[quote=Leorocky]Shadowstats is not a reputable source.[/quote]
It includes the official unemployment numbers AND the ShadowStats numbers.
For the record, I believe that the employment numbers have improved over the past few years, but there is no question that the job market is saturated with workers, many of whom are overqualified for the available positions (to discredit the myth that people “just need to get a better education”).
There is hope, though, as some of these minimum wage laws go into effect, trade agreements are better scrutinized, and currency manipulations are curbed. And if the tide is turning back toward a more pro-labor environment, which seems to be happeing, things could really start to improve. It’s long past time that wages started moving up because our purchasing power has most definitely been eroding over the years.
September 1, 2015 at 11:10 AM #789071Participant[quote=mixxalot]I found a lot of places even for under 400K in Santee area:
Now if you can get a sailboat under 30′ then slip fees are doable at 500/month:
http://www.harborislandwest.com/slip-rates.html
I plan on a 25′ Catalina sailboat with two heads and two cabins with galley. That puts me at under $400 for slip fee. So factor a $3K mortgage plus $500 slip fee not too bad for best of both worlds.
Actually since I am also a pilot, I’ve looked at buying a home outside of California in place like Nevada, Arizona or Oregon where prices are even cheaper!
So a plane at 80K plus sailboat at 10K plus home in OR/NV/AZ at $200-300K that makes a monthly nut of 3-4K to have all toys accounted for and tax breaks for business. Or live in cheaper part of California like Chico or Oregon coast.[/quote]
mixxalot, I’m sure you realize that there is a nice private airport (Gillespie Field) situated between Santee and Bostonia (EC 92021) where you can store your plane. 92021 also has a beautiful community on its NE edge, “Blossom Valley” which has ample lots to park toys (and horses) on. However, the HOA’s in there may have restrictions as to height and where an owner can park their big toy. It’s a very nice community which holds its value well (in comparison to surrounding communities) but may likely be too expensive for you.
I’m only mentioning Blossom Valley here because you posted that you are expecting to pay a $3K mo mortgage. A $200-$300K house in AZ will only have a +/- $1500 mo mortgage (PITI) at today’s 30 yr fixed rates. If you are intending on paying $3K month for PITI, I figured you may as well have a property which will save you your monthly slip fees :=)
September 1, 2015 at 11:47 AM #789072Participant[quote=mixxalot]I found a lot of places even for under 400K in Santee area:
mixxalot, I’m sure you noticed that this listing is a townhome (twinhome) and is part of an HOA which will cost the owner of this home $347 mo in dues.
The lot is minuscule (substandard) and doesn’t even have a driveway to leave any vehicles parked in front of the garage. There is absolutely NO WAY you would be able to trailer even a 25′ sailboat up to it to load it up for a weekend trip, much less store it overnight for an early-morning departure (I didn’t notice if there was RV/boat storage on the premises).
You can do much, much better than this (land-wise) in SD East County in the $350-$500K range.
September 1, 2015 at 2:31 PM #789081ParticipantAgree a hangar rents for $500 month at Gillespie even less farther away in Borrego and with savings can pay for both slip and hangar in addition to home.
September 1, 2015 at 2:58 PM #789084FlyerInHi
Guestmixxalot, did you consider Florida?
If you don’t mind the humidity, Florida might be a better place. No state income taxes either. -
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