Falling interest rates

[waiting for bottom]

Thanks also for your reponses.

I agree with waiting until rent=PITI, except for tax break. I factor in a $600/mth interest deduction benefit ($27K interest x 26% tax).

It’s just frustrating waiting for prices to fall and being a renter. DO you think I would have any luck sending some “lowball” offers in the 650K range in Mariner’s point? Or is that just wasting everyone’s time?

[SD Realtor]

Waiting for bottom / Jumbo

I guess the term “waste of time” is subjective.

Think of it as a lottery ticket. The odds are OVERWHELMING that they will blow you off… however if you don’t try then you have 0 chance of getting the prize. So no I don’t believe anyone will accept but I would not discourage giving it a shot. I have lots of friends, clients, etc who are trying it and nobody has gotten a hit yet. I have a client who sent in a 425k offer on a 460-480k priced home in Clairemont and they came back at 440k so we are negotiating. Clearly this is not in the same percentage reductions as you are looking for but it is encouraging. Give it time. Obviously the communities you guys are considering are not clairemonts of the world but in a year or two they may see the declines you are looking for.

Lets hope rates are not skyrocketed or if the rates are high, that the price declines compensate for them.

Also in your calculation are you including the interest (less taxes) you are accruing on your dp money? That does not totally make up for the lost deduction but it does count for something.

SD Realtor

[SD Realtor]

Waiting for bottom / Jumbo

I guess the term “waste of time” is subjective.

Think of it as a lottery ticket. The odds are OVERWHELMING that they will blow you off… however if you don’t try then you have 0 chance of getting the prize. So no I don’t believe anyone will accept but I would not discourage giving it a shot. I have lots of friends, clients, etc who are trying it and nobody has gotten a hit yet. I have a client who sent in a 425k offer on a 460-480k priced home in Clairemont and they came back at 440k so we are negotiating. Clearly this is not in the same percentage reductions as you are looking for but it is encouraging. Give it time. Obviously the communities you guys are considering are not clairemonts of the world but in a year or two they may see the declines you are looking for.

Lets hope rates are not skyrocketed or if the rates are high, that the price declines compensate for them.

Also in your calculation are you including the interest (less taxes) you are accruing on your dp money? That does not totally make up for the lost deduction but it does count for something.

SD Realtor

[SD Realtor]

Waiting for bottom / Jumbo

I guess the term “waste of time” is subjective.

Think of it as a lottery ticket. The odds are OVERWHELMING that they will blow you off… however if you don’t try then you have 0 chance of getting the prize. So no I don’t believe anyone will accept but I would not discourage giving it a shot. I have lots of friends, clients, etc who are trying it and nobody has gotten a hit yet. I have a client who sent in a 425k offer on a 460-480k priced home in Clairemont and they came back at 440k so we are negotiating. Clearly this is not in the same percentage reductions as you are looking for but it is encouraging. Give it time. Obviously the communities you guys are considering are not clairemonts of the world but in a year or two they may see the declines you are looking for.

Lets hope rates are not skyrocketed or if the rates are high, that the price declines compensate for them.

Also in your calculation are you including the interest (less taxes) you are accruing on your dp money? That does not totally make up for the lost deduction but it does count for something.

SD Realtor

[SD Realtor]

Waiting for bottom / Jumbo

I guess the term “waste of time” is subjective.

Think of it as a lottery ticket. The odds are OVERWHELMING that they will blow you off… however if you don’t try then you have 0 chance of getting the prize. So no I don’t believe anyone will accept but I would not discourage giving it a shot. I have lots of friends, clients, etc who are trying it and nobody has gotten a hit yet. I have a client who sent in a 425k offer on a 460-480k priced home in Clairemont and they came back at 440k so we are negotiating. Clearly this is not in the same percentage reductions as you are looking for but it is encouraging. Give it time. Obviously the communities you guys are considering are not clairemonts of the world but in a year or two they may see the declines you are looking for.

Lets hope rates are not skyrocketed or if the rates are high, that the price declines compensate for them.

Also in your calculation are you including the interest (less taxes) you are accruing on your dp money? That does not totally make up for the lost deduction but it does count for something.

SD Realtor

[SD Realtor]

Waiting for bottom / Jumbo

I guess the term “waste of time” is subjective.

Think of it as a lottery ticket. The odds are OVERWHELMING that they will blow you off… however if you don’t try then you have 0 chance of getting the prize. So no I don’t believe anyone will accept but I would not discourage giving it a shot. I have lots of friends, clients, etc who are trying it and nobody has gotten a hit yet. I have a client who sent in a 425k offer on a 460-480k priced home in Clairemont and they came back at 440k so we are negotiating. Clearly this is not in the same percentage reductions as you are looking for but it is encouraging. Give it time. Obviously the communities you guys are considering are not clairemonts of the world but in a year or two they may see the declines you are looking for.

Lets hope rates are not skyrocketed or if the rates are high, that the price declines compensate for them.

Also in your calculation are you including the interest (less taxes) you are accruing on your dp money? That does not totally make up for the lost deduction but it does count for something.

SD Realtor

[(former)FormerSanDiegan]

a 425k offer on a 460-480k priced home in Clairemont and they came back at 440k

SD R
Just curious as a gauge … What is your estimate (or range) of what this home would fetch in rent ?

[(former)FormerSanDiegan]

a 425k offer on a 460-480k priced home in Clairemont and they came back at 440k

SD R
Just curious as a gauge … What is your estimate (or range) of what this home would fetch in rent ?

[(former)FormerSanDiegan]

a 425k offer on a 460-480k priced home in Clairemont and they came back at 440k

SD R
Just curious as a gauge … What is your estimate (or range) of what this home would fetch in rent ?

[(former)FormerSanDiegan]

a 425k offer on a 460-480k priced home in Clairemont and they came back at 440k

SD R
Just curious as a gauge … What is your estimate (or range) of what this home would fetch in rent ?

[(former)FormerSanDiegan]

a 425k offer on a 460-480k priced home in Clairemont and they came back at 440k

SD R
Just curious as a gauge … What is your estimate (or range) of what this home would fetch in rent ?

[SD Realtor]

I don’t believe it pencils out yet FSD. It is actually a 4/2 and it is not as much as a POS as some of the other homes there. Also, I have two buyers looking in that area and I have been there alot in the past few weeks and there are alot of folks who have given up and the for sale signs have been replaced by for rent signs. More then a few of the homes we have seen, including this home converted the little 1 car garage into a bedroom. This particular home did it right, they got a permit, built a footing and it was done in a clean manner. Unfortunately my guy wants to convert the room back to a garage.

Getting back to your question taking a quick look on craigslist the prices are all over the place. For sure you could get 2k maybe as much as 2.5k. This particular home is in the Mountain streets just south of balboa and east of genesee.

SD Realtor

[SD Realtor]

I don’t believe it pencils out yet FSD. It is actually a 4/2 and it is not as much as a POS as some of the other homes there. Also, I have two buyers looking in that area and I have been there alot in the past few weeks and there are alot of folks who have given up and the for sale signs have been replaced by for rent signs. More then a few of the homes we have seen, including this home converted the little 1 car garage into a bedroom. This particular home did it right, they got a permit, built a footing and it was done in a clean manner. Unfortunately my guy wants to convert the room back to a garage.

Getting back to your question taking a quick look on craigslist the prices are all over the place. For sure you could get 2k maybe as much as 2.5k. This particular home is in the Mountain streets just south of balboa and east of genesee.

SD Realtor

[SD Realtor]

I don’t believe it pencils out yet FSD. It is actually a 4/2 and it is not as much as a POS as some of the other homes there. Also, I have two buyers looking in that area and I have been there alot in the past few weeks and there are alot of folks who have given up and the for sale signs have been replaced by for rent signs. More then a few of the homes we have seen, including this home converted the little 1 car garage into a bedroom. This particular home did it right, they got a permit, built a footing and it was done in a clean manner. Unfortunately my guy wants to convert the room back to a garage.

Getting back to your question taking a quick look on craigslist the prices are all over the place. For sure you could get 2k maybe as much as 2.5k. This particular home is in the Mountain streets just south of balboa and east of genesee.

SD Realtor

[SD Realtor]

I don’t believe it pencils out yet FSD. It is actually a 4/2 and it is not as much as a POS as some of the other homes there. Also, I have two buyers looking in that area and I have been there alot in the past few weeks and there are alot of folks who have given up and the for sale signs have been replaced by for rent signs. More then a few of the homes we have seen, including this home converted the little 1 car garage into a bedroom. This particular home did it right, they got a permit, built a footing and it was done in a clean manner. Unfortunately my guy wants to convert the room back to a garage.

Getting back to your question taking a quick look on craigslist the prices are all over the place. For sure you could get 2k maybe as much as 2.5k. This particular home is in the Mountain streets just south of balboa and east of genesee.

SD Realtor

[Author]

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