Fundamentals in Fashion Valley

[temeculaguy]

All of your assumptions are reasonable and as a 1998 buyer you are safe provided you avoided taking too much equity out. There will always be buyers for different reasons at different prices, even at 300k some units found buyers who thought that was reasonable. Your question was about the fundamentals so I laid them out using the rent multiplier and I think Fasion Valley is a safe play for a rental within the multiplier range. The mystery is how low will it go in the near term, what will the overcorrection be like? Are there investors chomping at the bit to buy rentals or is the shine off R/E for the fair weather fans? I can’t answer that but I can tell you that when nice units in centrally located above average areas start coming into the multiplier range, I give it a second look and I’m not alone. When they hit 100x rent I’ll probably buy more than I need, thinking it won’t stay that low for long and cash nuetral rentals from day one are a rare treat, not one to ignore. Now if you are trying to apply logic to the market to determine the floor price, i advise against it, there was no logic in the peak price so it is unlikely to be logic in the trough. If during the next 24 months the price falls below what you paid in 1998 or below let’s say 125k, buy a second one and become a landlord.

[SD Realtor]

citydweller as someone who watches mission valley very closely and who purchases a rental there a few years ago and recently sold it, I would sit tight for awhile longer. The prices have come down considerably but I would wait until you can really get some cash flow out of the units there.

Also I recall an REDC sale of a 1/1 in Mission Valley that started at 129k. Now we are talking. I never tracked it to see what it went for.

SD Realtor

[SD Realtor]

citydweller as someone who watches mission valley very closely and who purchases a rental there a few years ago and recently sold it, I would sit tight for awhile longer. The prices have come down considerably but I would wait until you can really get some cash flow out of the units there.

Also I recall an REDC sale of a 1/1 in Mission Valley that started at 129k. Now we are talking. I never tracked it to see what it went for.

SD Realtor

[SD Realtor]

citydweller as someone who watches mission valley very closely and who purchases a rental there a few years ago and recently sold it, I would sit tight for awhile longer. The prices have come down considerably but I would wait until you can really get some cash flow out of the units there.

Also I recall an REDC sale of a 1/1 in Mission Valley that started at 129k. Now we are talking. I never tracked it to see what it went for.

SD Realtor

[SD Realtor]

citydweller as someone who watches mission valley very closely and who purchases a rental there a few years ago and recently sold it, I would sit tight for awhile longer. The prices have come down considerably but I would wait until you can really get some cash flow out of the units there.

Also I recall an REDC sale of a 1/1 in Mission Valley that started at 129k. Now we are talking. I never tracked it to see what it went for.

SD Realtor

[SD Realtor]

citydweller as someone who watches mission valley very closely and who purchases a rental there a few years ago and recently sold it, I would sit tight for awhile longer. The prices have come down considerably but I would wait until you can really get some cash flow out of the units there.

Also I recall an REDC sale of a 1/1 in Mission Valley that started at 129k. Now we are talking. I never tracked it to see what it went for.

SD Realtor

[citydweller]

Thanks for the replies, and yes I agree that prices will continue to come down. But isn’t it nice to know that prices are starting to come down to where it almost makes sense to buy in an attractive part of town?

I would advise anyone who is thinking of buying, to wait until foreclosures and inventory start to decline.

[citydweller]

Thanks for the replies, and yes I agree that prices will continue to come down. But isn’t it nice to know that prices are starting to come down to where it almost makes sense to buy in an attractive part of town?

I would advise anyone who is thinking of buying, to wait until foreclosures and inventory start to decline.

[citydweller]

Thanks for the replies, and yes I agree that prices will continue to come down. But isn’t it nice to know that prices are starting to come down to where it almost makes sense to buy in an attractive part of town?

I would advise anyone who is thinking of buying, to wait until foreclosures and inventory start to decline.

[citydweller]

Thanks for the replies, and yes I agree that prices will continue to come down. But isn’t it nice to know that prices are starting to come down to where it almost makes sense to buy in an attractive part of town?

I would advise anyone who is thinking of buying, to wait until foreclosures and inventory start to decline.

[citydweller]

Thanks for the replies, and yes I agree that prices will continue to come down. But isn’t it nice to know that prices are starting to come down to where it almost makes sense to buy in an attractive part of town?

I would advise anyone who is thinking of buying, to wait until foreclosures and inventory start to decline.

[Author]

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