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  • February 23, 2008 at 10:40 AM #158610
    SD Realtor
    Participant

    Oz your strategy works ONLY if you are prepared to NOT buy for awhile. I have a client who just did what you are thinking about. They live in Olde Carlsbad and they priced aggressively and sold quickly at below the asking price. They are going to rent but they will not be returning to buy a home until at least 2010-2011. You cannot expect to make the plan you have worthwhile by being able to make a purchase in the short term. To be able to enjoy a rise in equity due to a price reduction, a lower tax base, and a similar lifestyle you will have to be prepared sell now and then simply wait…wait…wait.

    SD Realtor

    February 23, 2008 at 10:51 AM #158232
    Bugs
    Participant

    Oz, if this was your plan, the time to sell would have been in mid-2006 and you would have been sitting on the sidelines for however long it took for your target market to settle.

    Remember what I said about the different markets moving at different paces. When it comes to the big pricing declines, most of the price segments in Carlsbad/Encinitas/Solana Bch will be among the last “joiners”, along with CV and Scripps. That means you’ll have have even more patience in those areas than in others.

    It’ll be the least desirable areas and property types that will reach that re-entry point soonest. From there, everyone else will just have to wait.

    February 23, 2008 at 10:51 AM #158525
    Bugs
    Participant

    Oz, if this was your plan, the time to sell would have been in mid-2006 and you would have been sitting on the sidelines for however long it took for your target market to settle.

    Remember what I said about the different markets moving at different paces. When it comes to the big pricing declines, most of the price segments in Carlsbad/Encinitas/Solana Bch will be among the last “joiners”, along with CV and Scripps. That means you’ll have have even more patience in those areas than in others.

    It’ll be the least desirable areas and property types that will reach that re-entry point soonest. From there, everyone else will just have to wait.

    February 23, 2008 at 10:51 AM #158534
    Bugs
    Participant

    Oz, if this was your plan, the time to sell would have been in mid-2006 and you would have been sitting on the sidelines for however long it took for your target market to settle.

    Remember what I said about the different markets moving at different paces. When it comes to the big pricing declines, most of the price segments in Carlsbad/Encinitas/Solana Bch will be among the last “joiners”, along with CV and Scripps. That means you’ll have have even more patience in those areas than in others.

    It’ll be the least desirable areas and property types that will reach that re-entry point soonest. From there, everyone else will just have to wait.

    February 23, 2008 at 10:51 AM #158542
    Bugs
    Participant

    Oz, if this was your plan, the time to sell would have been in mid-2006 and you would have been sitting on the sidelines for however long it took for your target market to settle.

    Remember what I said about the different markets moving at different paces. When it comes to the big pricing declines, most of the price segments in Carlsbad/Encinitas/Solana Bch will be among the last “joiners”, along with CV and Scripps. That means you’ll have have even more patience in those areas than in others.

    It’ll be the least desirable areas and property types that will reach that re-entry point soonest. From there, everyone else will just have to wait.

    February 23, 2008 at 10:51 AM #158615
    Bugs
    Participant

    Oz, if this was your plan, the time to sell would have been in mid-2006 and you would have been sitting on the sidelines for however long it took for your target market to settle.

    Remember what I said about the different markets moving at different paces. When it comes to the big pricing declines, most of the price segments in Carlsbad/Encinitas/Solana Bch will be among the last “joiners”, along with CV and Scripps. That means you’ll have have even more patience in those areas than in others.

    It’ll be the least desirable areas and property types that will reach that re-entry point soonest. From there, everyone else will just have to wait.

    February 23, 2008 at 11:45 AM #158272
    Ozzie
    Participant

    Well as I said it was my wife’s “plan” not mine. The problem with the renting idea is that it’s a substandard lifestyle for us. My wife is a habitual decorator and very good at it, but there’s no way a landlord would let her make a bunch of changes and no way I’d let her pay to upgrade someone else’s property. Secondly, it’s just not a big savings even though I have a damn big mortgage. I can’t wait another 3 years because my kids will be out of high school in 5-6 years so I’m not going to deprive them of a great environment in the meantinem to save a few bucks. If it were already 2014 and the kids were at college it would be a much different story.

    February 23, 2008 at 11:45 AM #158565
    Ozzie
    Participant

    Well as I said it was my wife’s “plan” not mine. The problem with the renting idea is that it’s a substandard lifestyle for us. My wife is a habitual decorator and very good at it, but there’s no way a landlord would let her make a bunch of changes and no way I’d let her pay to upgrade someone else’s property. Secondly, it’s just not a big savings even though I have a damn big mortgage. I can’t wait another 3 years because my kids will be out of high school in 5-6 years so I’m not going to deprive them of a great environment in the meantinem to save a few bucks. If it were already 2014 and the kids were at college it would be a much different story.

    February 23, 2008 at 11:45 AM #158574
    Ozzie
    Participant

    Well as I said it was my wife’s “plan” not mine. The problem with the renting idea is that it’s a substandard lifestyle for us. My wife is a habitual decorator and very good at it, but there’s no way a landlord would let her make a bunch of changes and no way I’d let her pay to upgrade someone else’s property. Secondly, it’s just not a big savings even though I have a damn big mortgage. I can’t wait another 3 years because my kids will be out of high school in 5-6 years so I’m not going to deprive them of a great environment in the meantinem to save a few bucks. If it were already 2014 and the kids were at college it would be a much different story.

    February 23, 2008 at 11:45 AM #158582
    Ozzie
    Participant

    Well as I said it was my wife’s “plan” not mine. The problem with the renting idea is that it’s a substandard lifestyle for us. My wife is a habitual decorator and very good at it, but there’s no way a landlord would let her make a bunch of changes and no way I’d let her pay to upgrade someone else’s property. Secondly, it’s just not a big savings even though I have a damn big mortgage. I can’t wait another 3 years because my kids will be out of high school in 5-6 years so I’m not going to deprive them of a great environment in the meantinem to save a few bucks. If it were already 2014 and the kids were at college it would be a much different story.

    February 23, 2008 at 11:45 AM #158656
    Ozzie
    Participant

    Well as I said it was my wife’s “plan” not mine. The problem with the renting idea is that it’s a substandard lifestyle for us. My wife is a habitual decorator and very good at it, but there’s no way a landlord would let her make a bunch of changes and no way I’d let her pay to upgrade someone else’s property. Secondly, it’s just not a big savings even though I have a damn big mortgage. I can’t wait another 3 years because my kids will be out of high school in 5-6 years so I’m not going to deprive them of a great environment in the meantinem to save a few bucks. If it were already 2014 and the kids were at college it would be a much different story.

    February 23, 2008 at 1:04 PM #158312
    patientrenter
    Participant

    Ozzie, How is the potential payoff “not a big savings”? If you sell your home now for $1 million, and buy something just as good in 2012 for $600K, wouldn’t that save you almost $400K? You can use investment earnings on the $1 million to offset the rent until you buy.

    For me, $400K represents a “big savings”. I guess I am poorer than I thought.

    Patient renter in OC

    February 23, 2008 at 1:04 PM #158606
    patientrenter
    Participant

    Ozzie, How is the potential payoff “not a big savings”? If you sell your home now for $1 million, and buy something just as good in 2012 for $600K, wouldn’t that save you almost $400K? You can use investment earnings on the $1 million to offset the rent until you buy.

    For me, $400K represents a “big savings”. I guess I am poorer than I thought.

    Patient renter in OC

    February 23, 2008 at 1:04 PM #158614
    patientrenter
    Participant

    Ozzie, How is the potential payoff “not a big savings”? If you sell your home now for $1 million, and buy something just as good in 2012 for $600K, wouldn’t that save you almost $400K? You can use investment earnings on the $1 million to offset the rent until you buy.

    For me, $400K represents a “big savings”. I guess I am poorer than I thought.

    Patient renter in OC

    February 23, 2008 at 1:04 PM #158622
    patientrenter
    Participant

    Ozzie, How is the potential payoff “not a big savings”? If you sell your home now for $1 million, and buy something just as good in 2012 for $600K, wouldn’t that save you almost $400K? You can use investment earnings on the $1 million to offset the rent until you buy.

    For me, $400K represents a “big savings”. I guess I am poorer than I thought.

    Patient renter in OC

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