Crown Point

[JWM in SD]

You know, they aren’t making anymore land…You can’t be serious right???

[JWM in SD]

You know, they aren’t making anymore land…You can’t be serious right???

[lendingbubblecontinues]

I am kidding, of course.

Buy now and be priced in forever. There…now I am not kidding anymore 😉

[lendingbubblecontinues]

I am kidding, of course.

Buy now and be priced in forever. There…now I am not kidding anymore 😉

[dny]

To the original poster, have you ran the numbers to determine what your cost would be on a usage basis? Meaning, if you used the place for 4 weeks a year, your daily cost would be $X when considering the yearly costs for owning/maintaining the home.

I understand the desire to have your own vacation home where you can decorate as you please and never have the icky feeling that can sometimes come with hotels knowing someone else was sleeping in the bed the night before. However, it would seem to me that only the extremely rich (those who are willing to spend tens of thousands of $’s for the sake of convenience and ease) should even be considering vacation homes in today’s market.

With zero appreciation over the next few years a very plausible scenario, why would someone buy a house to make use of it for only a few weeks a year? A person would be able to stay in the nicest of hotels at a much lower cost when considering the total payments for the year.

Good luck with whatever you decide.

[dny]

To the original poster, have you ran the numbers to determine what your cost would be on a usage basis? Meaning, if you used the place for 4 weeks a year, your daily cost would be $X when considering the yearly costs for owning/maintaining the home.

I understand the desire to have your own vacation home where you can decorate as you please and never have the icky feeling that can sometimes come with hotels knowing someone else was sleeping in the bed the night before. However, it would seem to me that only the extremely rich (those who are willing to spend tens of thousands of $’s for the sake of convenience and ease) should even be considering vacation homes in today’s market.

With zero appreciation over the next few years a very plausible scenario, why would someone buy a house to make use of it for only a few weeks a year? A person would be able to stay in the nicest of hotels at a much lower cost when considering the total payments for the year.

Good luck with whatever you decide.

[SD Realtor]

pczonie – My advice would definitely definitely definitely be to not buy now. Rent a place for the 4 weeks out of the year down in Mission Bay, hang out and have fun. Then in a few year buy. When you bite the bullet it may end up breaking your teeth.

SD Realtor

[SD Realtor]

pczonie – My advice would definitely definitely definitely be to not buy now. Rent a place for the 4 weeks out of the year down in Mission Bay, hang out and have fun. Then in a few year buy. When you bite the bullet it may end up breaking your teeth.

SD Realtor

[housingfreefall]

RENT find an owner attempting to sell, call the agent and ask are your sellers willing to rent their place while it is on the market? we have been in our place 2 years with this strategy..very very nice place!!! very very cheap in comparison!!!

FYI In escrow or pending is not sold

Math 101:
Price $875000.00
30% $262500= $612,500 @6.75 3445.00
Taxes=$911.00 monthly insurance for the coast min $200.00 monthly
Grand total=
4536.00
Decline of 10% in 07 and ? 08 S&P confirmed yesterday
07 loss $87500 08 loss 5% $39375= $126875.00
Reduction in your personal capital priceless…why make a move now?

[housingfreefall]

RENT find an owner attempting to sell, call the agent and ask are your sellers willing to rent their place while it is on the market? we have been in our place 2 years with this strategy..very very nice place!!! very very cheap in comparison!!!

FYI In escrow or pending is not sold

Math 101:
Price $875000.00
30% $262500= $612,500 @6.75 3445.00
Taxes=$911.00 monthly insurance for the coast min $200.00 monthly
Grand total=
4536.00
Decline of 10% in 07 and ? 08 S&P confirmed yesterday
07 loss $87500 08 loss 5% $39375= $126875.00
Reduction in your personal capital priceless…why make a move now?

[JWM in SD]

Now that’s more like it Lending Bubble.

Actually my original comment was meant for PC Zonie.

[JWM in SD]

Now that’s more like it Lending Bubble.

Actually my original comment was meant for PC Zonie.

[JWM in SD]

Now that’s more like it Lending Bubble.

Actually my original comment was meant for PC Zonie.

[JWM in SD]

Now that’s more like it Lending Bubble.

Actually my original comment was meant for PC Zonie.

[pczonie]

Thanks to all of you for the good advice and well thought out answers. I needed a good slap in the face to bring me back to reality. We’re just tired of renting and it was a moment of weakness. One more question. In the previous bubble did the beach and bayside property also depreciate as far as the list prices or did they just “stagnate” until inflation caught up with the bubble prices?

[Author]

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