Downtown Condos

[blahblahblah]

Heck, half of ’em aren’t even finished yet. There are tons of buildings still under construction downtown. So the supply end of it is just going to get worse and worse. A lot of these are going to end up as some kind of rentals I think, although that could take years to pan out.

[davelj]

Downtown is a disaster. I bought here in November ’06 in an odd deal, the details of which I won’t bore you with, that protects me from a peak-to-trough decline of 40%. And I’d like to buy another place down here as well, so I’m pleased with the direction and speed that prices are moving.

In my building there are two REOs and three or four short sales that haven’t sold yet. They are priced at 20%-30% below their last sales, depending on the unit. And they aren’t moving. This is happening in several other buildings as well. So, we’re going to see a dramatic drop in the comps over the next 6-9 months. I believe that in 2009 there will be many units available downtown for which the mortgage+taxes+HOA will be at or below comparable rental prices using conventional financing.

But as for right now, there ain’t no hurry. Just sit back and enjoy the show.

[davelj]

Downtown is a disaster. I bought here in November ’06 in an odd deal, the details of which I won’t bore you with, that protects me from a peak-to-trough decline of 40%. And I’d like to buy another place down here as well, so I’m pleased with the direction and speed that prices are moving.

In my building there are two REOs and three or four short sales that haven’t sold yet. They are priced at 20%-30% below their last sales, depending on the unit. And they aren’t moving. This is happening in several other buildings as well. So, we’re going to see a dramatic drop in the comps over the next 6-9 months. I believe that in 2009 there will be many units available downtown for which the mortgage+taxes+HOA will be at or below comparable rental prices using conventional financing.

But as for right now, there ain’t no hurry. Just sit back and enjoy the show.

[davelj]

Downtown is a disaster. I bought here in November ’06 in an odd deal, the details of which I won’t bore you with, that protects me from a peak-to-trough decline of 40%. And I’d like to buy another place down here as well, so I’m pleased with the direction and speed that prices are moving.

In my building there are two REOs and three or four short sales that haven’t sold yet. They are priced at 20%-30% below their last sales, depending on the unit. And they aren’t moving. This is happening in several other buildings as well. So, we’re going to see a dramatic drop in the comps over the next 6-9 months. I believe that in 2009 there will be many units available downtown for which the mortgage+taxes+HOA will be at or below comparable rental prices using conventional financing.

But as for right now, there ain’t no hurry. Just sit back and enjoy the show.

[davelj]

Downtown is a disaster. I bought here in November ’06 in an odd deal, the details of which I won’t bore you with, that protects me from a peak-to-trough decline of 40%. And I’d like to buy another place down here as well, so I’m pleased with the direction and speed that prices are moving.

In my building there are two REOs and three or four short sales that haven’t sold yet. They are priced at 20%-30% below their last sales, depending on the unit. And they aren’t moving. This is happening in several other buildings as well. So, we’re going to see a dramatic drop in the comps over the next 6-9 months. I believe that in 2009 there will be many units available downtown for which the mortgage+taxes+HOA will be at or below comparable rental prices using conventional financing.

But as for right now, there ain’t no hurry. Just sit back and enjoy the show.

[davelj]

Downtown is a disaster. I bought here in November ’06 in an odd deal, the details of which I won’t bore you with, that protects me from a peak-to-trough decline of 40%. And I’d like to buy another place down here as well, so I’m pleased with the direction and speed that prices are moving.

In my building there are two REOs and three or four short sales that haven’t sold yet. They are priced at 20%-30% below their last sales, depending on the unit. And they aren’t moving. This is happening in several other buildings as well. So, we’re going to see a dramatic drop in the comps over the next 6-9 months. I believe that in 2009 there will be many units available downtown for which the mortgage+taxes+HOA will be at or below comparable rental prices using conventional financing.

But as for right now, there ain’t no hurry. Just sit back and enjoy the show.

[(former)FormerSanDiegan]

I bought here in November ’06 in an odd deal, the details of which I won’t bore you with, that protects me from a peak-to-trough decline of 40%.

I, for one would be very interested in the boring details of an odd deal that would protect one from a 40% decline in prices. Do tell.

[(former)FormerSanDiegan]

I bought here in November ’06 in an odd deal, the details of which I won’t bore you with, that protects me from a peak-to-trough decline of 40%.

I, for one would be very interested in the boring details of an odd deal that would protect one from a 40% decline in prices. Do tell.

[(former)FormerSanDiegan]

I bought here in November ’06 in an odd deal, the details of which I won’t bore you with, that protects me from a peak-to-trough decline of 40%.

I, for one would be very interested in the boring details of an odd deal that would protect one from a 40% decline in prices. Do tell.

[(former)FormerSanDiegan]

I bought here in November ’06 in an odd deal, the details of which I won’t bore you with, that protects me from a peak-to-trough decline of 40%.

I, for one would be very interested in the boring details of an odd deal that would protect one from a 40% decline in prices. Do tell.

[(former)FormerSanDiegan]

I bought here in November ’06 in an odd deal, the details of which I won’t bore you with, that protects me from a peak-to-trough decline of 40%.

I, for one would be very interested in the boring details of an odd deal that would protect one from a 40% decline in prices. Do tell.

[davelj]

Rich has a copy of the contract on my place (with certain identifying details left out) as well as (by definition) your email address. I hesitate to speak on Rich’s behalf, but I bet if you ask Rich nicely he’d forward you a copy. (Rich, if you’re reading this, I don’t have a problem with this.) I’d ask, however, that you keep the contents and structure of the contract to yourself.

[davelj]

Rich has a copy of the contract on my place (with certain identifying details left out) as well as (by definition) your email address. I hesitate to speak on Rich’s behalf, but I bet if you ask Rich nicely he’d forward you a copy. (Rich, if you’re reading this, I don’t have a problem with this.) I’d ask, however, that you keep the contents and structure of the contract to yourself.

[davelj]

Rich has a copy of the contract on my place (with certain identifying details left out) as well as (by definition) your email address. I hesitate to speak on Rich’s behalf, but I bet if you ask Rich nicely he’d forward you a copy. (Rich, if you’re reading this, I don’t have a problem with this.) I’d ask, however, that you keep the contents and structure of the contract to yourself.

[davelj]

Rich has a copy of the contract on my place (with certain identifying details left out) as well as (by definition) your email address. I hesitate to speak on Rich’s behalf, but I bet if you ask Rich nicely he’d forward you a copy. (Rich, if you’re reading this, I don’t have a problem with this.) I’d ask, however, that you keep the contents and structure of the contract to yourself.

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