Del Cerro

[blahblahblah]

Actually, I included the property taxes when I ran the numbers for that mortgage in my previous post. Can’t forget the T in PITI, after all. I think most of the people on this board will take it into account although they may not explicitly mention it.

[daney143]

Yeah, I usually figure in the property tax too. It’s more important, especially if you live in a Mello Roos area or an area with HOA. That could add an addtional $500 a month to your mortgage above the flat property tax.

[PerryChase]

I just read that Grantville just to the West of Allied Gardens and Del Cerro will be redeveloped. An eastward expansion of Mission Valley, and another condo central?

http://voiceofsandiego.org/articles/2007/01/04/housing/949grantville.txt

[daney143]

Yeah, this condo villa will be a much needed expansion for San Diego State and their shortage of Student housing. Plus, it will cut back on the number of needed parking spaces because the students will be able to just on the Trolley there at Grantville. Finally some one is using thier brain and developing smart growth.

[PD]

In addition to neglecting to add in taxes, many people do not calculate the opportunity cost of their downpayment. Since I would have to put down a bundle to buy where I live, it jacks the cost of ownership per month WAY up. In a market moving up, you don’t get hurt. However, in a downward or sideways market, you lose. Plus, you don’t to get write off the loss of potential earnings…

[CardiffBaseball]

I wasn’t criticizing you Concho, just making a general comment that people often drop off that part of the house payment. Thanks for calculating that in too. Still too rich for my blood.

[an]

PD, I agree with you completely. Opportunity cost is high when you put down 100k. That’s $433/month @ 5.2% interest you can get from GMAC saving account. That’s why I just compare 0% down with rent, removing the opportunity cost variable makes it easier to compare.

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