Foreclosure ban end.

[an]

[quote=Coronita][quote=an][quote=scaredyclassic]Holding on to anything for 30 years, a house, a marriage, ones sanity, is easier fantasized about than done.

30 years, and you are basically a different human[/quote]
Life’s not easy[/quote]

my parents still have a house since 1979[/quote]
Mine still have their from 1987.

[svelte]

[quote=an][quote=svelte][quote=an][quote=svelte]
Totally bogus claim.[/quote]what development in Mira Mesa in 1987 was going for 100-105k for a 3/2 1500 sqft house?[/quote]

I can’t recall the name and I didn’t save any brochures. All I can tell you is that it was south of MM Blvd and west of Westonhill. I can’t remember any more than that.[/quote]
These are the only one that’s new around 1987 that’s 3/2 1500 sqft South of MM. 7528 Flanders Dr, San Diego, CA 92126. This one sold for 160k in 1988. So your dad was getting a crazy deal.[/quote]

It looks as though SD Union and SD Tribune have taken their newspaper archives off of the normal archive sites and are hawking them on their own site at very high prices that I’m not willing to pay. If/when they make the prices reasonable, I’ll search the archives.

In the meantime, here is what I’ve found:

1986:
$99K – 10576 Giffin Way, San Diego, CA 92126, 1378 SF
$114K – 10596 Giffin Way, San Diego, CA 92126, 1366 SF

$119K – 10596 Giffin Way, San Diego, CA 92126, 1366 SF
$119K – 10544 Bandell Ct, San Diego, CA 92126, 1366 SF

1988:
$129K – 10546 Darwell Ct, San Diego, CA 92126, 1008 SF
$129K – 10546 Darwell Ct, San Diego, CA 92126 1008 SF
$141K – 10526 Darwell Ct, San Diego, CA 92126 1500 SF

1997:
$160K – 10583 Giffin Way, San Diego, CA 92126 1284 SF

1999:
$145K – 7672 Adkins Way, San Diego, CA 92126 1008 SF

I would imagine what happened is that in 1987, we walked into a model and they had some unit that wasn’t selling that they were offering for $100-105K. That isn’t unreasonable given the $99K sales price above in 1986. It is right in line.

The $160K sales price you show for 1988 sounds really high actually.

Let’s go back to why I made the statement I made originally: you had said that houses went up 10x in the 1970s. If MM houses were selling for $120K in 1986, what you must be saying is houses were selling for $12K in 1970 and went up zero between 1980 and 1986. Neither of which is believable.

[an]

[quote=svelte]It looks as though SD Union and SD Tribune have taken their newspaper archives off of the normal archive sites and are hawking them on their own site at very high prices that I’m not willing to pay. If/when they make the prices reasonable, I’ll search the archives.

In the meantime, here is what I’ve found:

1986:
$99K – 10576 Giffin Way, San Diego, CA 92126, 1378 SF
$114K – 10596 Giffin Way, San Diego, CA 92126, 1366 SF

$119K – 10596 Giffin Way, San Diego, CA 92126, 1366 SF
$119K – 10544 Bandell Ct, San Diego, CA 92126, 1366 SF

1988:
$129K – 10546 Darwell Ct, San Diego, CA 92126, 1008 SF
$129K – 10546 Darwell Ct, San Diego, CA 92126 1008 SF
$141K – 10526 Darwell Ct, San Diego, CA 92126 1500 SF

1997:
$160K – 10583 Giffin Way, San Diego, CA 92126 1284 SF

1999:
$145K – 7672 Adkins Way, San Diego, CA 92126 1008 SF

I would imagine what happened is that in 1987, we walked into a model and they had some unit that wasn’t selling that they were offering for $100-105K. That isn’t unreasonable given the $99K sales price above in 1986. It is right in line.

The $160K sales price you show for 1988 sounds really high actually.

Let’s go back to why I made the statement I made originally: you had said that houses went up 10x in the 1970s. If MM houses were selling for $120K in 1986, what you must be saying is houses were selling for $12K in 1970 and went up zero between 1980 and 1986. Neither of which is believable.[/quote]Model match base on what you posted was 10576 Giffin Way and 10526 Darwell Ct. So, 99k to $141k. So, we’re looking at $40k appreciation in 2 years or ~40%.

The $160k is not high because that development is much better. A 1500 sq-ft 3/2 house is much better than a 1200 sq-ft 3/2 or a 1300 sq-ft 4/2. Different development.

As for my original statement of 10X, already conceded that 10x was an over estimation. Small 4/2 in MM were going for ~$40k and not $16k in the mid 70s, so it’s ~4x and not 10X. But, you were pointing out that stocks were crashing in the 70s, insinuating that housing did too. So, although it did not increase 10x, it did increase 4x. If you only count the gain from the down payment, for a $40k house with 20% down, you’d down $8k. 10 years later, the same house is $120-160k, then you’d gain ~10x-15x on your $8k down payment.

[an]

[quote=an][quote=svelte][quote=an]
Yes, every crash is different. Not every crash cause everything to crash. Oil prices in the 70s caused massive inflation and housing went up almost 10x.
[/quote]

The stock market crashed in the 70s.[/quote]
But not housing. Like I said, not everything crashes. Housing went up almost 10x.[/quote]
Ahh, forest from the trees. You’re right, I was wrong about the 10X. But was was your point about pointing out that the market crashed in the 70s in respond to me saying “Not every crash cause everything to crash.”?

[svelte]

[quote=an]

As for my original statement of 10X, already conceded that 10x was an over estimation. Small 4/2 in MM were going for ~$40k and not $16k in the mid 70s, so it’s ~4x and not 10X. But, you were pointing out that stocks were crashing in the 70s, insinuating that housing did too. So, although it did not increase 10x, it did increase 4x. [/quote]

Fair enough! (hand shake)

[svelte]

[quote=an]Model match base on what you posted was 10576 Giffin Way and 10526 Darwell Ct. So, 99k to $141k. So, we’re looking at $40k appreciation in 2 years or ~40%.
[/quote]

Interesting! This explains why in 1989 my wife and I ran out and bought a 3/2 condo for $100K. We were freaking out about the price increases.

Same fear that is driving one of my sons to buy a 3/2 house in northern California this month!

On the bright side, that condo purchase was one of the better decisions we’ve ever made…it is what enabled our future purchases…

[sdrealtor]

My parents moved to SD in mid 80’s. They were trying to convince my then GF and I to move here. Prices were moving fast between mid and late 80’s. People were camping out for houses then.So when comparing prices from say 86 to 88 or 89 its important to consider they were increasing crazy fast over that period. Though nothing like we are seeing now

[svelte]

[quote=sdrealtor]My parents moved to SD in mid 80’s. They were trying to convince my then GF and I to move here. Prices were moving fast between mid and late 80’s. People were camping out for houses then.So when comparing prices from say 86 to 88 or 89 its important to consider they were increasing crazy fast over that period. Though nothing like we are seeing now[/quote]

I do remember those days, and agree today blows that away.

We bought that first place for 100K in 1989 and sold it in 1992 for 135 (prices within a grand or two, I’d have to look). 35% in three years, 30% after realtors fees if I recall. I’m not quite sure how we worked it as prices were already sliding by 1992. My realtor didn’t show up for the first showing (I believe my realtor was both buying and selling realtor) so I showed the house, explained all the features…they bought it that day full price…realtor did nothing but put it on the MLS and collect her fee!

We bought a brand new house in 1992 and a few of our neighbors were a little upset that we paid quite a bit less than they did just 6 months earlier. As prices continued to slide for the next couple of years, I remember all of the neighbors standing in the middle of the street saying “What are we going to do?”. So I asked “do you plan on selling in the next year or two?” They all said no. So I told them to enjoy the temporary reduction in property taxes and not to worry! It’s SoCal! Prices will come back!

[Coronita]

Interesting when I moved here in 1996, I remember talking to the qualcomm HR new hire orientation rep who was saying that her house in solana beach is finally recovering after some defense layoffs in San Diego caused a recession in the economy.

It seemed like housing was still ok. La Jolla I think was $300k for a townhome….

I think the largest condo in then new construction Waterridge right next to building Q (San Diego Design Center) was $199k.

[Escoguy]

When we arrived in 2000 (renting an apartment in Rancho Bernardo), a neighbor told us how all the homes but hers were foreclosed in the 1994 period (Riverside county). Defense cuts etc.

It is interesting how her one anecdote almost kept me from buying.

Then our apartment manager raised our rent for our 2BR from $1050 to $1150 when our initial six month lease was up.

As I was able to buy the first home in Escondido for 339K in Dec 2000, the mortgage payment at 6.75% interest was about $1700.

I thought at least I will know my costs as I had this awful vision of my rent going up by $100 every year without any equity. That countered the tale of woe from 1994.

Even buying in 2000 one encountered lotteries and some oddly aggressive pricing from individual sellers. Was just setting the stage for the next six years.

[sdrealtor]

[quote=Coronita]Interesting when I moved here in 1996, I remember talking to the qualcomm HR new hire orientation rep who was saying that her house in solana beach is finally recovering after some defense layoffs in San Diego caused a recession in the economy.

It seemed like housing was still ok. La Jolla I think was $300k for a townhome….

I think the largest condo in then new construction Waterridge right next to building Q (San Diego Design Center) was $199k.[/quote]

96 was the beginning of the recovery. Bought my first place in Encinitas in 97 for $190k and things were starting to fly. Sold it two years later for 245k or 29% more by owner. Prices were low and it was easier. Paid a guy to do my paperwork. Bought my current home new pre construction from builder for 400k 6 months before I sold that place. Put 20% down with 5/1 arm at 7.125%. Lined up both closings and moved into La Costa house the weekend after I sold Encinitas townhouse. One year later it had appreciated enough to pull out cash with a HELOC to do my landscaping and pay off our students loans. In 2001 neighbor sold house for 550. Could’ve gotten more but realtor slide in their buyer clients. In 2003 those buyers sold for $740. Same realtors pulled same crap and slide in buyers under market in late 03. Three months later houses like it were going above 850k. Given the chance I would’ve bought it all three times at those prices

[Coronita]

.

[svelte]

[quote=sdrealtor]In 2001 neighbor sold house for 550. Could’ve gotten more but realtor slide in their buyer clients. In 2003 those buyers sold for $740. Same realtors pulled same crap and slide in buyers under market in late 03. [/quote]

Well while I sorta dissed my condo realtor for doing no work, she did get us a great sales price. We sold it for more $$ than any unit had ever sold in the complex. And I watched for another couple years after that – values started to slide so I don’t believe a sale price topped ours for a few years. She did us right.

[svelte]

[quote=Escoguy]
Then our apartment manager raised our rent for our 2BR from $1050 to $1150 when our initial six month lease was up.
.[/quote]

lol this was part of what drove us to buy our first place in 1989.

My wife told me that the Gold Coast Apartments where we lived said they were going to raise our rent by (can’t remember, $100?) I said that’s it we’re outta here. So she found us condos to look at and we bought. I wanted something as close to a SFR as we could get so she found us a 3/2 townhouse.

When my wife went to the rental office to give notice, the owner was also there. He asked her why we were leaving and she said “because you’re raising our rent by $xxx!”. He looked a little surprised she knew and gave an angry glance at the manager.

The next day we had a BBQ with our upstairs neighbors and told them the whole conversation. The bf half of the couple who worked construction said “WHAT?” he didn’t know about the rent increase. He looked at his gf and said “well we’re out of here too!”.

[sdrealtor]

[quote=svelte][quote=sdrealtor]In 2001 neighbor sold house for 550. Could’ve gotten more but realtor slide in their buyer clients. In 2003 those buyers sold for $740. Same realtors pulled same crap and slide in buyers under market in late 03. [/quote]

Well while I sorta dissed my condo realtor for doing no work, she did get us a great sales price. We sold it for more $$ than any unit had ever sold in the complex. And I watched for another couple years after that – values started to slide so I don’t believe a sale price topped ours for a few years. She did us right.[/quote]

The prior realtors did not do the prior owners right. The house finally hit the OPEN market last month for the first ever. There was a feeding frenzy. Our houses are nice but our locations/lots are great. The neighbor is a top 10 lot in community of over 1000 homes. Smashed the neighborhood record for a meh house because of the lot/location/yard. Someone finally did that house right

[Author]

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