Buying a house at the new top of the market?

[bearishgurl]

[quote=AN]So you think places that has dropped 50%+ from peak and are at ~2000 nominal price is a worse investment than a house in NCC that’s west of the 5? I beg to differ.[/quote]

AN, I can’t go around and around about this, but you still gotta sell that property someday that just sunk to +-2000 lows. What will it bring in 2015? 2020? What kind of profit can you make fixing it up and selling it as opposed to a well-located property in NCC west of the 5??

More fundamentally, why did its neighborhood sink to “2000 lows” in the first place?? Ask yourself that question before you make an offer. If you are buying for appreciation from “sweat equity,” then think twice before making an offer. If you are buying for cash flow and will never live there, then examine the local rents and if it cash-flows after PITI, then BUY IT! Bear in mind the calibur of tenants you will attract, because, after all, the ‘hood has “sunk to 2000 lows.”

A property in a neighborhood that has sunk to “2000 lows” is NOT a “keeper” in the way that sdcellar is referring to. It is a property purchased for rental income or a leg-up for a moderate-income first-time buyer family that needs a stable home for their kids.

Think about it.

[an]

I’m not looking to buy, so it’s all hypothetical for me. I think the reason why it sunk to 2000 price is probably the same reason why it got to its 2005/6 price. What it’ll sell for in 2015/2020, I have no idea. We’ll find out in 5/10 years. When both return to their peak value, the 2000 priced home will give you a much better return. That’s why I like Escondido and Chula Vista. They both represent very good value in today’s market. If I work down south, I would be buying down there in a heart beat.

[an]

I’m not looking to buy, so it’s all hypothetical for me. I think the reason why it sunk to 2000 price is probably the same reason why it got to its 2005/6 price. What it’ll sell for in 2015/2020, I have no idea. We’ll find out in 5/10 years. When both return to their peak value, the 2000 priced home will give you a much better return. That’s why I like Escondido and Chula Vista. They both represent very good value in today’s market. If I work down south, I would be buying down there in a heart beat.

[an]

I’m not looking to buy, so it’s all hypothetical for me. I think the reason why it sunk to 2000 price is probably the same reason why it got to its 2005/6 price. What it’ll sell for in 2015/2020, I have no idea. We’ll find out in 5/10 years. When both return to their peak value, the 2000 priced home will give you a much better return. That’s why I like Escondido and Chula Vista. They both represent very good value in today’s market. If I work down south, I would be buying down there in a heart beat.

[an]

I’m not looking to buy, so it’s all hypothetical for me. I think the reason why it sunk to 2000 price is probably the same reason why it got to its 2005/6 price. What it’ll sell for in 2015/2020, I have no idea. We’ll find out in 5/10 years. When both return to their peak value, the 2000 priced home will give you a much better return. That’s why I like Escondido and Chula Vista. They both represent very good value in today’s market. If I work down south, I would be buying down there in a heart beat.

[an]

I’m not looking to buy, so it’s all hypothetical for me. I think the reason why it sunk to 2000 price is probably the same reason why it got to its 2005/6 price. What it’ll sell for in 2015/2020, I have no idea. We’ll find out in 5/10 years. When both return to their peak value, the 2000 priced home will give you a much better return. That’s why I like Escondido and Chula Vista. They both represent very good value in today’s market. If I work down south, I would be buying down there in a heart beat.

[an]

[quote=bearishgurl]
sdcellar is in a place in his life where he is able to ACT!! I can’t emphasize enough that if a Pigg should see their dream property become available in THIS MARKET and they are able to ACT UPON IT, THEY SHOULD. IMO, the present conditions will NOT last forever and IF THEY JUST HAPPEN TO COINCIDE with the sudden avail. of a property you have long had your eye on, then THIS is a once-in-a-lifetime opportunity. Last time I looked, folks on their deathbeds never begrudged acting on their once-in-a-lifetime opportunity, if it presented itself.[/quote]
This is why I don’t think you’re that bearish. Some on here thinks that the pain train will hit all area eventually. No area is immune, just delayed. So if you’re buying at any price greater than 2000 price, you bound to see depreciation.

[an]

[quote=bearishgurl]
sdcellar is in a place in his life where he is able to ACT!! I can’t emphasize enough that if a Pigg should see their dream property become available in THIS MARKET and they are able to ACT UPON IT, THEY SHOULD. IMO, the present conditions will NOT last forever and IF THEY JUST HAPPEN TO COINCIDE with the sudden avail. of a property you have long had your eye on, then THIS is a once-in-a-lifetime opportunity. Last time I looked, folks on their deathbeds never begrudged acting on their once-in-a-lifetime opportunity, if it presented itself.[/quote]
This is why I don’t think you’re that bearish. Some on here thinks that the pain train will hit all area eventually. No area is immune, just delayed. So if you’re buying at any price greater than 2000 price, you bound to see depreciation.

[an]

[quote=bearishgurl]
sdcellar is in a place in his life where he is able to ACT!! I can’t emphasize enough that if a Pigg should see their dream property become available in THIS MARKET and they are able to ACT UPON IT, THEY SHOULD. IMO, the present conditions will NOT last forever and IF THEY JUST HAPPEN TO COINCIDE with the sudden avail. of a property you have long had your eye on, then THIS is a once-in-a-lifetime opportunity. Last time I looked, folks on their deathbeds never begrudged acting on their once-in-a-lifetime opportunity, if it presented itself.[/quote]
This is why I don’t think you’re that bearish. Some on here thinks that the pain train will hit all area eventually. No area is immune, just delayed. So if you’re buying at any price greater than 2000 price, you bound to see depreciation.

[an]

[quote=bearishgurl]
sdcellar is in a place in his life where he is able to ACT!! I can’t emphasize enough that if a Pigg should see their dream property become available in THIS MARKET and they are able to ACT UPON IT, THEY SHOULD. IMO, the present conditions will NOT last forever and IF THEY JUST HAPPEN TO COINCIDE with the sudden avail. of a property you have long had your eye on, then THIS is a once-in-a-lifetime opportunity. Last time I looked, folks on their deathbeds never begrudged acting on their once-in-a-lifetime opportunity, if it presented itself.[/quote]
This is why I don’t think you’re that bearish. Some on here thinks that the pain train will hit all area eventually. No area is immune, just delayed. So if you’re buying at any price greater than 2000 price, you bound to see depreciation.

[an]

[quote=bearishgurl]
sdcellar is in a place in his life where he is able to ACT!! I can’t emphasize enough that if a Pigg should see their dream property become available in THIS MARKET and they are able to ACT UPON IT, THEY SHOULD. IMO, the present conditions will NOT last forever and IF THEY JUST HAPPEN TO COINCIDE with the sudden avail. of a property you have long had your eye on, then THIS is a once-in-a-lifetime opportunity. Last time I looked, folks on their deathbeds never begrudged acting on their once-in-a-lifetime opportunity, if it presented itself.[/quote]
This is why I don’t think you’re that bearish. Some on here thinks that the pain train will hit all area eventually. No area is immune, just delayed. So if you’re buying at any price greater than 2000 price, you bound to see depreciation.

[briansd1]

[quote=Aecetia]Yes, before I die, if I end up with more than one house which is entirely possible. Also, it would depend on who the kid marries. I do not plan to buy a bitch a house if you know what I mean.[/quote]

haha, I know exactly what you mean.

And you (or was it someone else?) think that I’m disrespectful of women!! 😉

I don’t think that many parents give houses to their kids. If that were to become a common trend, house prices would drop in the future because proportionately fewer young adults would need to buy houses.

[briansd1]

[quote=Aecetia]Yes, before I die, if I end up with more than one house which is entirely possible. Also, it would depend on who the kid marries. I do not plan to buy a bitch a house if you know what I mean.[/quote]

haha, I know exactly what you mean.

And you (or was it someone else?) think that I’m disrespectful of women!! 😉

I don’t think that many parents give houses to their kids. If that were to become a common trend, house prices would drop in the future because proportionately fewer young adults would need to buy houses.

[briansd1]

[quote=Aecetia]Yes, before I die, if I end up with more than one house which is entirely possible. Also, it would depend on who the kid marries. I do not plan to buy a bitch a house if you know what I mean.[/quote]

haha, I know exactly what you mean.

And you (or was it someone else?) think that I’m disrespectful of women!! 😉

I don’t think that many parents give houses to their kids. If that were to become a common trend, house prices would drop in the future because proportionately fewer young adults would need to buy houses.

[briansd1]

[quote=Aecetia]Yes, before I die, if I end up with more than one house which is entirely possible. Also, it would depend on who the kid marries. I do not plan to buy a bitch a house if you know what I mean.[/quote]

haha, I know exactly what you mean.

And you (or was it someone else?) think that I’m disrespectful of women!! 😉

I don’t think that many parents give houses to their kids. If that were to become a common trend, house prices would drop in the future because proportionately fewer young adults would need to buy houses.

[Author]

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