Derby Hill in CV???

[sdcellar]

I didn’t mean shoddy…

Well you misspelled them both then. And might I suggest that “shoddy” actually demonstrates a more refined use of the language.

Are you sure you didn’t buy in Del Sur or something like that in the last year, Alex?

[an]

“Anyone who has been living here for 7 years of longer and did not buy missed the boat once.”

This statement only applied if you were working 7 years ago. I lived in San Diego for over 15 years, but 7 years ago, I was still a kid in school with only a part time job and housing was the last thing on my mind. When I graduated and have a stable enough job to start thinking about long term investment like a house, that was 2004. I think most people here who are waiting are either young people like myself waiting for our first house or those who bought in 99-ish and sold in 05-ish. I’d say that’s the majority of the posters anyways.

sdcellar, I totally agree. I rather be late (miss the bottom) and catch it on the way up than catch a falling knife. Especially since no one can time the market with any consistency.

[an]

“Anyone who has been living here for 7 years of longer and did not buy missed the boat once.”

This statement only applied if you were working 7 years ago. I lived in San Diego for over 15 years, but 7 years ago, I was still a kid in school with only a part time job and housing was the last thing on my mind. When I graduated and have a stable enough job to start thinking about long term investment like a house, that was 2004. I think most people here who are waiting are either young people like myself waiting for our first house or those who bought in 99-ish and sold in 05-ish. I’d say that’s the majority of the posters anyways.

sdcellar, I totally agree. I rather be late (miss the bottom) and catch it on the way up than catch a falling knife. Especially since no one can time the market with any consistency.

[an]

“Anyone who has been living here for 7 years of longer and did not buy missed the boat once.”

This statement only applied if you were working 7 years ago. I lived in San Diego for over 15 years, but 7 years ago, I was still a kid in school with only a part time job and housing was the last thing on my mind. When I graduated and have a stable enough job to start thinking about long term investment like a house, that was 2004. I think most people here who are waiting are either young people like myself waiting for our first house or those who bought in 99-ish and sold in 05-ish. I’d say that’s the majority of the posters anyways.

sdcellar, I totally agree. I rather be late (miss the bottom) and catch it on the way up than catch a falling knife. Especially since no one can time the market with any consistency.

[Coronita]

Perterk2001,

 

Here's my take. And perhaps I'm going to piss people off by saying this. I personally like the DerbyHills home. And at some point or another I was on the wait list. My favorite is the large plan (4 i think), with the optional attic loft. It's a nice area, away from the power lines views of other homes on the side of Torrey Hills.

That said, if we could "afford" it, I would definitely would have remained on the list and at least wait until I was called to see if I could select a unit on a nice cul-de-sac. Unfortunately, my wife and I have very strict definition of "afford", which includes having not to sell our existing SFH in CV purchased in 2004, having XXXX in reserves, having XX dollars in a children's fund, having a budget to replace an 8 year-old car in 2 years. It simply wasn't an option for us. We stayed on the waitlist for awhile, in case our financial situation would drastically change, but it became a pain for us to keep track of the available lots, since we also have particular fong-shui requirements and we couldn't agree on everything So we gave up.

However, If I remember correctly, being on the list, you had the option to defer to the next phase if you were called.

That said, keep in mind also that the sales office is probably telling you things are sold out…BUT, I believe there are several more phases that they haven't started (or delayed) to control interest. If you really like this development, at least you should wait for the location you want.

Can't comment on if prices will go down. Probably so. But not everyone will care. It depends on your own situation.

My only advice to you is that you need to make sure

(1) your not in over your head if you do this

(2) you don't mind taking a hit on your current place.

However, despite what other may be saying here. I don't think a majority of these people moving in are really "stretched with arms and etc." Some, perhaps. Most…I doubt it.. I personally know some people who had existing homes were waiting for this specific new development to trade up, some were ex-qualcomm coworkers moving from other developments and putting down a lot more than 20%. The only time I recall a discount in this development was back in feb/march. There was a weeding out of the people that had contingencies that fell through. I recall several plan 2-3 were being sold with big rebates and incentives (close to 200k off). But it lasted for about 3-4 weeks.

If you do purchase, just make sure you aren't one of these that are stretched thin, otherwise I might pick your place up if you go into foreclosure

🙂

 

 

 

[Coronita]

Perterk2001,

 

Here's my take. And perhaps I'm going to piss people off by saying this. I personally like the DerbyHills home. And at some point or another I was on the wait list. My favorite is the large plan (4 i think), with the optional attic loft. It's a nice area, away from the power lines views of other homes on the side of Torrey Hills.

That said, if we could "afford" it, I would definitely would have remained on the list and at least wait until I was called to see if I could select a unit on a nice cul-de-sac. Unfortunately, my wife and I have very strict definition of "afford", which includes having not to sell our existing SFH in CV purchased in 2004, having XXXX in reserves, having XX dollars in a children's fund, having a budget to replace an 8 year-old car in 2 years. It simply wasn't an option for us. We stayed on the waitlist for awhile, in case our financial situation would drastically change, but it became a pain for us to keep track of the available lots, since we also have particular fong-shui requirements and we couldn't agree on everything So we gave up.

However, If I remember correctly, being on the list, you had the option to defer to the next phase if you were called.

That said, keep in mind also that the sales office is probably telling you things are sold out…BUT, I believe there are several more phases that they haven't started (or delayed) to control interest. If you really like this development, at least you should wait for the location you want.

Can't comment on if prices will go down. Probably so. But not everyone will care. It depends on your own situation.

My only advice to you is that you need to make sure

(1) your not in over your head if you do this

(2) you don't mind taking a hit on your current place.

However, despite what other may be saying here. I don't think a majority of these people moving in are really "stretched with arms and etc." Some, perhaps. Most…I doubt it.. I personally know some people who had existing homes were waiting for this specific new development to trade up, some were ex-qualcomm coworkers moving from other developments and putting down a lot more than 20%. The only time I recall a discount in this development was back in feb/march. There was a weeding out of the people that had contingencies that fell through. I recall several plan 2-3 were being sold with big rebates and incentives (close to 200k off). But it lasted for about 3-4 weeks.

If you do purchase, just make sure you aren't one of these that are stretched thin, otherwise I might pick your place up if you go into foreclosure

🙂

 

 

 

[Coronita]

Perterk2001,

 

Here's my take. And perhaps I'm going to piss people off by saying this. I personally like the DerbyHills home. And at some point or another I was on the wait list. My favorite is the large plan (4 i think), with the optional attic loft. It's a nice area, away from the power lines views of other homes on the side of Torrey Hills.

That said, if we could "afford" it, I would definitely would have remained on the list and at least wait until I was called to see if I could select a unit on a nice cul-de-sac. Unfortunately, my wife and I have very strict definition of "afford", which includes having not to sell our existing SFH in CV purchased in 2004, having XXXX in reserves, having XX dollars in a children's fund, having a budget to replace an 8 year-old car in 2 years. It simply wasn't an option for us. We stayed on the waitlist for awhile, in case our financial situation would drastically change, but it became a pain for us to keep track of the available lots, since we also have particular fong-shui requirements and we couldn't agree on everything So we gave up.

However, If I remember correctly, being on the list, you had the option to defer to the next phase if you were called.

That said, keep in mind also that the sales office is probably telling you things are sold out…BUT, I believe there are several more phases that they haven't started (or delayed) to control interest. If you really like this development, at least you should wait for the location you want.

Can't comment on if prices will go down. Probably so. But not everyone will care. It depends on your own situation.

My only advice to you is that you need to make sure

(1) your not in over your head if you do this

(2) you don't mind taking a hit on your current place.

However, despite what other may be saying here. I don't think a majority of these people moving in are really "stretched with arms and etc." Some, perhaps. Most…I doubt it.. I personally know some people who had existing homes were waiting for this specific new development to trade up, some were ex-qualcomm coworkers moving from other developments and putting down a lot more than 20%. The only time I recall a discount in this development was back in feb/march. There was a weeding out of the people that had contingencies that fell through. I recall several plan 2-3 were being sold with big rebates and incentives (close to 200k off). But it lasted for about 3-4 weeks.

If you do purchase, just make sure you aren't one of these that are stretched thin, otherwise I might pick your place up if you go into foreclosure

🙂

 

 

 

[Coronita]

Submitted by gn on August 22, 2007 – 12:53pm.

Navydoc, very well said.

And this is the point that a guy named Cyphire (who has a lot of money, but decided to rent in La Jolla instead of buying) was making too.

For most people, whose assets is less than $5M. Losing a few hundred thousands dollars is going to hurt them.

 

It would be an interesting study to figure out out of those people who saved, want percentage ended up losing money anyway on other things, such as bad investments (shorts or longs at the wrong time), spending on frivolous things, etc.

 

[Coronita]

Submitted by gn on August 22, 2007 – 12:53pm.

Navydoc, very well said.

And this is the point that a guy named Cyphire (who has a lot of money, but decided to rent in La Jolla instead of buying) was making too.

For most people, whose assets is less than $5M. Losing a few hundred thousands dollars is going to hurt them.

 

It would be an interesting study to figure out out of those people who saved, want percentage ended up losing money anyway on other things, such as bad investments (shorts or longs at the wrong time), spending on frivolous things, etc.

 

[Coronita]

Submitted by gn on August 22, 2007 – 12:53pm.

Navydoc, very well said.

And this is the point that a guy named Cyphire (who has a lot of money, but decided to rent in La Jolla instead of buying) was making too.

For most people, whose assets is less than $5M. Losing a few hundred thousands dollars is going to hurt them.

 

It would be an interesting study to figure out out of those people who saved, want percentage ended up losing money anyway on other things, such as bad investments (shorts or longs at the wrong time), spending on frivolous things, etc.

 

[sdcellar]

and yeah, on the “7 years”, why do people always bring up that kind of thing? If we all had time machines, it would be very handy, but let’s talk about the here and now.

It’s not even like they’re trying to learn from history, just somehow trying to say a good idea at one point in time might not just be a really bad idea at another.

The only other explanation is trying to shoehorn people, but that’s not right either because plenty of folks have bought *and* sold in the last 7 years, and seriously (and in my opinion, correctly) question buying again right now.

[sdcellar]

and yeah, on the “7 years”, why do people always bring up that kind of thing? If we all had time machines, it would be very handy, but let’s talk about the here and now.

It’s not even like they’re trying to learn from history, just somehow trying to say a good idea at one point in time might not just be a really bad idea at another.

The only other explanation is trying to shoehorn people, but that’s not right either because plenty of folks have bought *and* sold in the last 7 years, and seriously (and in my opinion, correctly) question buying again right now.

[sdcellar]

and yeah, on the “7 years”, why do people always bring up that kind of thing? If we all had time machines, it would be very handy, but let’s talk about the here and now.

It’s not even like they’re trying to learn from history, just somehow trying to say a good idea at one point in time might not just be a really bad idea at another.

The only other explanation is trying to shoehorn people, but that’s not right either because plenty of folks have bought *and* sold in the last 7 years, and seriously (and in my opinion, correctly) question buying again right now.

[Alex_angel]

Do you honestly think in an area like Derby hill where the average home sold was over 1 million dollars that in 2 years people will be selling them for $700-800k? No way. I can see an area like Santa Luz where people bought in for $700-800k a few years ago dipping from the millions but not a new area that has a price point established.

[Alex_angel]

Do you honestly think in an area like Derby hill where the average home sold was over 1 million dollars that in 2 years people will be selling them for $700-800k? No way. I can see an area like Santa Luz where people bought in for $700-800k a few years ago dipping from the millions but not a new area that has a price point established.

[Author]

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