Does anyone follow Mission/Fashion Valley condo sales?

[scaredyclassic]

Maybe there’s fine print on the sign I can’t see

but I bought this car in 1988 and it’s sort of a badge of stubbornness to not ditch it.

Also I’m not sure where the title is.

It sure would be nice to have a/c though. And some upholstery on the seats. Also the hatch is really hard to open. And it smells really bad. And the starters been making that grinding noise for 15 years that supposedly means it’s about to go. And the body is really dented and the paint is flaky. And the dog threw up in it.

But some years it costs me nothing!!!

And I brought all 3 boys home from the hospital in it.

[SD Realtor]

You can order a copy of title from the DMV scaredy.

[scaredyclassic]

Well, all right but it is a barrier to selling.

And I don’t think anyone would give me more than $500 for the car.

Even though it’s worth many thousands!

[scaredyclassic]

Flu I currently owe 439000 at 4.375 perc. Mo payment is 2236

Should I buy that down to get 15 y at 3.0 perc no cost mo payment 2855?

I can afford it but would have to keep my stink car another 7 years.

[Anonymous]

Get a 30year at 3.75.

The benefits of a 15 year loan over the 30 are grossly overstated.

Use the monthly payment savings to buy (the wife) a new car.

[sdrealtor]

Since I’m the only one not ignoring you (at least for the moment) I’ll keep going. There is really no such thing as a “housing market” beyond the theoretical. Buyers are not “the housing market” they are individual parties acting in their own self interests just like sellers.

I never heard a single buyer say they were buying because of what Lerrah or NAR said. Plenty of people dont look to realtors either and do their own research. I never heard NAR predictions of 15% gains either nor did I hear that at any company meetings I went to. Maybe they were out there but working for one of if not the largest brokerage in the country we never heard any of that. In fact, I think the NAR, CAR and most realtors were shocked at what happened which far exceeded even the most optimistic predictions.

The car dealer tells you about resale value, he tells you why his BMW is a better investment than the other guys Audi, he tells you the $500 seat protection is a good investment not that its a $5 can of scotchguard, he tells you the undercarriage protection is money well spent as is the extended warranty plan. It happens in every industry. Stockbroker tout what they are told from above which is in the mother ships best interests and not necessarily the individual client.

As for high transaction costs on a percentage basis they are actually reasonable. Have you ever purchased life insurance? Do you know that better than 50% of 1st year premiums are paid out as commissions. How about software sales? I was paid 20 to 40% of the 1st year licensing fees on 3 year contracts for software sold in the 6 figures.

Economists like you live in the theoretical world. I live on Planet Earth with my feet on the ground. The economists put out broad predictions and have no accountability. I provide my clients specific actionable information and advice.

Like I said, there are plenty of smart, well educated people in the world and you are among them. That at $1.95 will get you a cup of coffee in this world. Money talks, BS walks. How much did you make knowing about the bubble and operationalizing it profitably?

[scaredyclassic]

Isn’t selling intrinsically bound wth an opinion?

Lawyers just sell pure advice, and some words on paper, but usually people get a little something w the advice

[sdrealtor]

Absolutely Walter. And lawyers are selling an intangible that has very little costs outside of their time and knowledge. Their gross margins are often close to 100%.

Realtors are an easy target but the truth is sales is sales whatever someone is selling.

[Coronita]

[quote=walterwhite]Flu I currently owe 439000 at 4.375 perc. Mo payment is 2236

Should I buy that down to get 15 y at 3.0 perc no cost mo payment 2855?

I can afford it but would have to keep my stink car another 7 years.[/quote]

You know scaredy. I guess really depends on what you plan to do with the money. That’s all I can say.. What’s your goal? You and I probably don’t see the same way, because well, you probably can work for another 10-15 years. I don’t think I can (at least not as a high-pressure software architect/developer, etc)..

I was originally on a 30 year, and then I went down to a 15 year loan, at the time, I really wanted to pay off my primary in 10 years, and the 30year, it was a bit disappointing to see the first few years of payment going to primarily to interest. And who the hell wants to still be paying into your mortgage when we’re 60ies (or for some of us maybe 70ies???) So I ended up doing a $391k loan for 15. In hindsight, I think that was a mistake. Because what I really need to do moving forward is counting on living more off of passive income. Assuming my health goes up shit’s creek, I will need something that produces income, not something that’s sitting there in a big ball of equity trap. So in hindsight, what I think I should have done is freed up as much $$$ on the primary and stuck it elsewhere. Side note: I really envy people who are good at real estate. Really envy… I mean, I wish I wasn’t such a fvcking geek and was a lot more street smart.

At the other extreme. If you’re going to spend money on bling. You might as well go all out…Because you only live once…. So don’t refinance and buy yourself a toaster appliance econ-car. Although I’m not suggesting Jeff Bridges dump Hyundai or Gary Bussey dump Kia, please don’t refinance so you can go buy yourself a Kia or Hyundai… Please….Go all out. Get what you always fvcking wanted. You want a reliable car… Get a fvcking porsche. They are very reliable…And you’re excuse will be you can’t fit the kids in the back (just say no on the panamera and the cayenne)..Sorry… Might as well enjoy life a bit… Because just remember. If you die or get a divorce, chances are your money ends up in someone else’s hands anyway.

Some people say I’m bi-polar these days. I think I am. Sorry, can’t help you any better.

[Coronita]

Speaking of refinancing…

http://piggington.com/ot_ah_another_year_another_great_time_to_refinance_15_year_lt_3

[sdrealtor]

You arent bi-polar, you are bi-winning!

Charlie Sheen

[scaredyclassic]

I like having cake. But I also like eating it.

[citydweller]

Update on 92108. SDLookup shows inventory at 93 units. Closings in April show as 27, about 3 1/2 months supply. The ppsf ranges from $149 to $271.

I would love to hear opinions on whether this zip code will stay flat for awhile, or should I encourage my friend to buy something soon, before prices start to rise and while interest rates are low.

I know it’s all speculation, but I’d love to hear what others have to say.

[citydweller]

Speaking of low inventory, 92108 is now showing 84 listings on SDLookup, and a total of 36 closed sales in May. I own a condo in Mission Valley, so I want to see this as a sign that we have hopefully hit a “bottom” and may actually start seeing an increase in prices.

At the same time, as I mentioned before, I have a friend who is planning to relocate back to San Diego from the East Coast. Should I encourage her to try to buy something this year or is it likely prices will stay flat for awhile?

Thanks for any comments.

[sdrealtor]

MOst of what you see are short sales with offers on them already. There are actually only 30 condo listings for sale now and 1/3rd of those are less than 2 weeks on the market. Virtually nothing under $200K on the market.

IMO, the bottom came and went. Prices should start creeping up slowly but I wouldnt buy for that reason as the appreciation should be slow. It probably wouldnt be easy finding anything decent to buy this time of year anyway.

[Author]

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