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FlyerInHi.
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May 18, 2015 at 2:12 PM #786411May 18, 2015 at 2:13 PM #786410
CoronitaParticipant[quote=AN][quote=flu][quote=The-Shoveler]There is a lot more worry on why we are NOT building enough homes, than there is on prices being too high.
That is where the pressure will be applied IMO (generating more home building) and how to get it going.[/quote]
Just this weekend there was this home we were entertaining in my area. 1 day after open house, 4 offers with 24hrs and no backups accepted.[/quote]
A couple of months ago, I was considering this house in my hood. They didn’t even host an open house yet, we saw it w/in a few days of it hitting the market and it already have an offer with no appraisal contingency. End up selling for ~10% above ask price.[/quote]It’s not even summertime yet!!!! I guess in order for me to figure out what it will take for re prices to settle down, I am trying to understand what it took for Vancouver BC real estate prices to settle down as a worst case scenario. So far it seems like Vancouver BC is still crazy. That’s why maybe now is the time to gsmblr a bit. At least in my neck of the woods.
I was actually surprised by the 1 in 3 stats. I didn’t think it was anywhere near that so soon.
May 18, 2015 at 2:14 PM #786412an
Participant[quote=flu]
I was actually surprised by the 1 in 3 stats. I didn’t think it was anywhere near that so soon.[/quote]
What 1 in 3 stats?May 18, 2015 at 2:18 PM #786413CoronitaParticipant[quote=AN][quote=flu]
I was actually surprised by the 1 in 3 stats. I didn’t think it was anywhere near that so soon.[/quote]
What 1 in 3 stats?[/quote]1 out of 3 homes purchased between $1-1.5m homes in my hood have been by Asian households.. I hope this doesn’t snowball quickly into Cupertino. Well at least not until I get my other foot in.
May 18, 2015 at 2:19 PM #786414Participant[quote=flu][quote=AN][quote=flu]
I was actually surprised by the 1 in 3 stats. I didn’t think it was anywhere near that so soon.[/quote]
What 1 in 3 stats?[/quote]1 out of 3 homes purchased between $1-1.5m homes in my hood have been by Asian households..[/quote]Not surprised. Your hood still have a way to go to get to the same level as my hood :-). Not sure if you want your hood to get here though.
May 18, 2015 at 2:23 PM #786415CoronitaParticipant[quote=AN][quote=flu][quote=AN][quote=flu]
I was actually surprised by the 1 in 3 stats. I didn’t think it was anywhere near that so soon.[/quote]
What 1 in 3 stats?[/quote]1 out of 3 homes purchased between $1-1.5m homes in my hood have been by Asian households..[/quote]Not surprised. Your hood still have a way to go to get to the same level as my hood :-). Not sure if you want your hood to get here though.[/quote]
Financially, yes (just not right now until my other foot is inside). Socially, it will suck. Maybe now is a good time to open an after school enrichment school in Carmel V though.
May 18, 2015 at 2:57 PM #786416Participant[quote=flu]Financially, yes (just not right now until my other foot is inside). Socially, it will suck. Maybe now is a good time to open an after school enrichment school in Carmel V though.[/quote]Why would it suck socially? I see it as a positive all around.
May 18, 2015 at 3:44 PM #786418fun4vnay2
ParticipantIf they want to contain cost, they’d need to reduce their headcount in SD and increase # in low cost places like India/China
They can still keep their chip biz running with few k less engineers in sd.A simple engineer in SD is no less/more than an engineer in China/India although a lot of folks here may argue against it
May 18, 2015 at 4:07 PM #786419Participant[quote=rockingtime]If they want to contain cost, they’d need to reduce their headcount in SD and increase # in low cost places like India/China
They can still keep their chip biz running with few k less engineers in sd.A simple engineer in SD is no less/more than an engineer in China/India although a lot of folks here may argue against it[/quote]You area aware that they’are building a bunch of new buildings in Sorrento Valley, right? I don’t expect them to abandon those buildings. They also also have a few more in planning stages (they already acquired the land). So, I don’t foresee them drastically reducing head count indefinitely.
There’s no point in arguing about quality of engineers. Fact is, engineers from India/China and getting more and more expensive every year. That’s not even talking about additional over head cost associated with shipping projects over there. There are things that engineers in India and China do well and there are things that you need local engineers to do. Engineers are not as easily replaceable as you make it out to be. QCOM might be the big dog now, but I see Illumina expanding like crazy. Not to mention all the banks that are setting up shops in UTC. Then there are many other biotech companies in Sorrento Valley.
May 18, 2015 at 4:13 PM #786420spdrun
Participantrockingtime: what major event ignited the run up in prices during 2013? I honestly don’t think there was one. Interest rates didn’t change that much due to QE3, and foreclosures/shorts didn’t run out at once.
Purely herd behavior, which can work in both directions. At least at the lower end, the sheep are now being a bit more judicious before buying.
AN: agreed. Have you actually tried to work with engineers who don’t speak the language well long-distance, and where their middleman overstates their qualifications? US-based engineers aren’t going anywhere fast.
May 18, 2015 at 4:24 PM #786421ParticipantOne of day job is to price manpower here vs other places.
We usually give 2 reqs for a single req in san diego.
This is for engineering jobs and we have been doing pretty good with this model so far.
India/China is not cheap but good thing about these countries are: They have millions of engineers graduating every year. An young engineer with couple of years exp make an old engineer who is 10+ exp and bloated salary completely obsolete.What you need is good mid level mgmt to manage and maintain the task/process flow along with clear directions.
Write code or testing is not rocket science and one does not get better with time which can command higher salaryIf you are on cutting edge technology, then its even more level playing field between experienced or noob..
May 18, 2015 at 4:53 PM #786422Participant[quote=rockingtime]One of day job is to price manpower here vs other places.
We usually give 2 reqs for a single req in san diego.
This is for engineering jobs and we have been doing pretty good with this model so far.
India/China is not cheap but good thing about these countries are: They have millions of engineers graduating every year. An young engineer with couple of years exp make an old engineer who is 10+ exp and bloated salary completely obsolete.What you need is good mid level mgmt to manage and maintain the task/process flow along with clear directions.
Write code or testing is not rocket science and one does not get better with time which can command higher salaryIf you are on cutting edge technology, then its even more level playing field between experienced or noob..[/quote]To use flu’s words… “If you say so…”
May 18, 2015 at 4:56 PM #786423Participant[quote=spdrun]AN: agreed. Have you actually tried to work with engineers who don’t speak the language well long-distance, and where their middleman overstates their qualifications? US-based engineers aren’t going anywhere fast.[/quote]Yes, which is why I don’t think Engineering jobs in US are going anywhere soon. I have no problem with having a branch in India and China. But the best experiences are the ones where each region control the entire project. Having to deal with engineers across the pond suck when there’s a huge language barrier.
May 18, 2015 at 5:17 PM #786426CoronitaParticipant[quote=spdrun]There are properties in the area that will come close, if not cash flow.
e.g., a 2/1.5 condo went contingent last month at $200k. HOA about $250/mo. Landlord insurance, about $15/mo. Taxes about $200/mo.
Market rent is $1600/mo and it’s in an easy area to rent. That’s close to 7% pro forma. Catch was that there was an existing tenant there at $1300/mo, but if one had some patience, they could do well.[/quote]
Are you talking about the one in Santee?
*If so, asking price was 210 to 219k.
*Hoa is $300/month not 250
*Rent is $1500/month
*All comps are around $240-250kMost importantly, this one came on the market day one as contingent, so it was never an open market sale.
May 18, 2015 at 5:36 PM #786430ParticipantNope. 😉
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