Buying a house at the new top of the market?

[Nor-LA-SD-guy]

High end maybe wait some, but once they start cash flowing (10-15% down), investors start grabbing them big time is the one caveat I will add.

Also there is a lot of foreign money looking for an investment right now so wait maybe, but pay attention to what is happening, if cash flow investors start to invade your turf then you are probably close enough.

[briansd1]

Foreigners who don’t intend to be at least part-year residents (like Germans and Brits in Florida) usually don’t invest in owning houses. They will invest in shares.

San Diego is not a great market for cash flowing properties. There are better markets elsewhere in the country.

I’m actually encouraging a friend to buy a house in Philadelphia where they have a 10-year property tax abatement. Too bad the Federal tax credit is no more.

I do think that the upper-middle to high-end in San Diego is due for another leg down.

I watch downtown and I see the rents slipping on the high-end condos.

[briansd1]

Foreigners who don’t intend to be at least part-year residents (like Germans and Brits in Florida) usually don’t invest in owning houses. They will invest in shares.

San Diego is not a great market for cash flowing properties. There are better markets elsewhere in the country.

I’m actually encouraging a friend to buy a house in Philadelphia where they have a 10-year property tax abatement. Too bad the Federal tax credit is no more.

I do think that the upper-middle to high-end in San Diego is due for another leg down.

I watch downtown and I see the rents slipping on the high-end condos.

[briansd1]

Foreigners who don’t intend to be at least part-year residents (like Germans and Brits in Florida) usually don’t invest in owning houses. They will invest in shares.

San Diego is not a great market for cash flowing properties. There are better markets elsewhere in the country.

I’m actually encouraging a friend to buy a house in Philadelphia where they have a 10-year property tax abatement. Too bad the Federal tax credit is no more.

I do think that the upper-middle to high-end in San Diego is due for another leg down.

I watch downtown and I see the rents slipping on the high-end condos.

[briansd1]

Foreigners who don’t intend to be at least part-year residents (like Germans and Brits in Florida) usually don’t invest in owning houses. They will invest in shares.

San Diego is not a great market for cash flowing properties. There are better markets elsewhere in the country.

I’m actually encouraging a friend to buy a house in Philadelphia where they have a 10-year property tax abatement. Too bad the Federal tax credit is no more.

I do think that the upper-middle to high-end in San Diego is due for another leg down.

I watch downtown and I see the rents slipping on the high-end condos.

[briansd1]

Foreigners who don’t intend to be at least part-year residents (like Germans and Brits in Florida) usually don’t invest in owning houses. They will invest in shares.

San Diego is not a great market for cash flowing properties. There are better markets elsewhere in the country.

I’m actually encouraging a friend to buy a house in Philadelphia where they have a 10-year property tax abatement. Too bad the Federal tax credit is no more.

I do think that the upper-middle to high-end in San Diego is due for another leg down.

I watch downtown and I see the rents slipping on the high-end condos.

[scaredyclassic]

the thoughts expressed by the OP are mine exactly. That said, we just saw a house the wife loves aabout 4 days ago, i quickly got my paperwork in order, made an offer about 8% under the list price which i (and my agent) thought was a little high, and was promptly told an offer had already been accepted and we could be backup. that was fast and furious. I have cose to zero faith in my ability to gauge what a place will go for. However, i also have little confidence that I won’t be underwater in a decade or so, at least on the mid-upper end we’re looking at. i’m a little sad we didn’t get that place as it actually was just what she was looking for, and I probably should’ve come in with my highest and best offer. Actually, what i offered was what i thought was my highest and best offer, but after being berated by spouse afterwards, maybe it wasn’t.

[scaredyclassic]

the thoughts expressed by the OP are mine exactly. That said, we just saw a house the wife loves aabout 4 days ago, i quickly got my paperwork in order, made an offer about 8% under the list price which i (and my agent) thought was a little high, and was promptly told an offer had already been accepted and we could be backup. that was fast and furious. I have cose to zero faith in my ability to gauge what a place will go for. However, i also have little confidence that I won’t be underwater in a decade or so, at least on the mid-upper end we’re looking at. i’m a little sad we didn’t get that place as it actually was just what she was looking for, and I probably should’ve come in with my highest and best offer. Actually, what i offered was what i thought was my highest and best offer, but after being berated by spouse afterwards, maybe it wasn’t.

[scaredyclassic]

the thoughts expressed by the OP are mine exactly. That said, we just saw a house the wife loves aabout 4 days ago, i quickly got my paperwork in order, made an offer about 8% under the list price which i (and my agent) thought was a little high, and was promptly told an offer had already been accepted and we could be backup. that was fast and furious. I have cose to zero faith in my ability to gauge what a place will go for. However, i also have little confidence that I won’t be underwater in a decade or so, at least on the mid-upper end we’re looking at. i’m a little sad we didn’t get that place as it actually was just what she was looking for, and I probably should’ve come in with my highest and best offer. Actually, what i offered was what i thought was my highest and best offer, but after being berated by spouse afterwards, maybe it wasn’t.

[scaredyclassic]

the thoughts expressed by the OP are mine exactly. That said, we just saw a house the wife loves aabout 4 days ago, i quickly got my paperwork in order, made an offer about 8% under the list price which i (and my agent) thought was a little high, and was promptly told an offer had already been accepted and we could be backup. that was fast and furious. I have cose to zero faith in my ability to gauge what a place will go for. However, i also have little confidence that I won’t be underwater in a decade or so, at least on the mid-upper end we’re looking at. i’m a little sad we didn’t get that place as it actually was just what she was looking for, and I probably should’ve come in with my highest and best offer. Actually, what i offered was what i thought was my highest and best offer, but after being berated by spouse afterwards, maybe it wasn’t.

[scaredyclassic]

the thoughts expressed by the OP are mine exactly. That said, we just saw a house the wife loves aabout 4 days ago, i quickly got my paperwork in order, made an offer about 8% under the list price which i (and my agent) thought was a little high, and was promptly told an offer had already been accepted and we could be backup. that was fast and furious. I have cose to zero faith in my ability to gauge what a place will go for. However, i also have little confidence that I won’t be underwater in a decade or so, at least on the mid-upper end we’re looking at. i’m a little sad we didn’t get that place as it actually was just what she was looking for, and I probably should’ve come in with my highest and best offer. Actually, what i offered was what i thought was my highest and best offer, but after being berated by spouse afterwards, maybe it wasn’t.

[barnaby33]

Berated by your spouse… I’m not into beating dead horses, but that statement says a lot.
Josh

[barnaby33]

Berated by your spouse… I’m not into beating dead horses, but that statement says a lot.
Josh

[barnaby33]

Berated by your spouse… I’m not into beating dead horses, but that statement says a lot.
Josh

[barnaby33]

Berated by your spouse… I’m not into beating dead horses, but that statement says a lot.
Josh

[Author]

Posts