- This topic has 187 replies, 15 voices, and was last updated 18 years, 1 month ago by
(former)FormerSanDiegan.
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October 31, 2007 at 2:56 PM #93884October 31, 2007 at 2:57 PM #93844
2008
ParticipantThanks for your suggestion FormerSanDiegan, a lot to think about and consider. I am hoping that somewhere over the next 3-5 years there will be a slight upturn to sell, versus just down down down. Its tough to consider the condo losing between 30-50% of its value from 2005, but no point in crying over split milk now.
October 31, 2007 at 2:57 PM #93879ParticipantThanks for your suggestion FormerSanDiegan, a lot to think about and consider. I am hoping that somewhere over the next 3-5 years there will be a slight upturn to sell, versus just down down down. Its tough to consider the condo losing between 30-50% of its value from 2005, but no point in crying over split milk now.
October 31, 2007 at 2:57 PM #93887ParticipantThanks for your suggestion FormerSanDiegan, a lot to think about and consider. I am hoping that somewhere over the next 3-5 years there will be a slight upturn to sell, versus just down down down. Its tough to consider the condo losing between 30-50% of its value from 2005, but no point in crying over split milk now.
October 31, 2007 at 2:59 PM #93847(former)FormerSanDiegan
Participantassuming that the market will ever get back to 2005 levels is a fools’ bet
Ever ?
If prices revert to 1997 levels (previous bottom), plus inflation when would we get to 2005 prices ?
October 31, 2007 at 2:59 PM #93882Participantassuming that the market will ever get back to 2005 levels is a fools’ bet
Ever ?
If prices revert to 1997 levels (previous bottom), plus inflation when would we get to 2005 prices ?
October 31, 2007 at 2:59 PM #93890Participantassuming that the market will ever get back to 2005 levels is a fools’ bet
Ever ?
If prices revert to 1997 levels (previous bottom), plus inflation when would we get to 2005 prices ?
October 31, 2007 at 3:03 PM #93850ParticipantI am hoping that somewhere over the next 3-5 years there will be a slight upturn to sell, versus just down down down. This is too short a time frame in my opinion. If this is your plan I would put it on the market at the end of January. (I would normally suggest to do so right now, but I think your chances to sell between now and the end of January are about zero).
October 31, 2007 at 3:03 PM #93885ParticipantI am hoping that somewhere over the next 3-5 years there will be a slight upturn to sell, versus just down down down. This is too short a time frame in my opinion. If this is your plan I would put it on the market at the end of January. (I would normally suggest to do so right now, but I think your chances to sell between now and the end of January are about zero).
October 31, 2007 at 3:03 PM #93893ParticipantI am hoping that somewhere over the next 3-5 years there will be a slight upturn to sell, versus just down down down. This is too short a time frame in my opinion. If this is your plan I would put it on the market at the end of January. (I would normally suggest to do so right now, but I think your chances to sell between now and the end of January are about zero).
October 31, 2007 at 3:11 PM #93862JWM in SD
Participant“If prices revert to 1997 levels (previous bottom), plus inflation when would we get to 2005 prices?”
Who knows, could be 5 years could 15 years. That is the problem with RE right now. The risk of it being illiquid for long time is too high given the current macro-econ picture.
October 31, 2007 at 3:11 PM #93897Participant“If prices revert to 1997 levels (previous bottom), plus inflation when would we get to 2005 prices?”
Who knows, could be 5 years could 15 years. That is the problem with RE right now. The risk of it being illiquid for long time is too high given the current macro-econ picture.
October 31, 2007 at 3:11 PM #93905Participant“If prices revert to 1997 levels (previous bottom), plus inflation when would we get to 2005 prices?”
Who knows, could be 5 years could 15 years. That is the problem with RE right now. The risk of it being illiquid for long time is too high given the current macro-econ picture.
October 31, 2007 at 3:11 PM #93865patientlywaiting
Participant2008 – After 5 years your loss on monthly carrying costs is about 42K. But you still have the 70K loss as well as any additional loss/gain in value over the next 5 years. (I'm guessing another 15% loss or about another 30K).
I think that the key to consider here is in 5 years, you'll STILL HAVE THE $70K LOSS of value + your carrying cost loss.
October 31, 2007 at 3:11 PM #93900Participant2008 – After 5 years your loss on monthly carrying costs is about 42K. But you still have the 70K loss as well as any additional loss/gain in value over the next 5 years. (I'm guessing another 15% loss or about another 30K).
I think that the key to consider here is in 5 years, you'll STILL HAVE THE $70K LOSS of value + your carrying cost loss.
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