Help – Considering San Elijo Hills.

[ariffe22]

I was reading through this old thread and wonder if h82rent followed the advice and counsel of the group or pulled the trigger in SEH. Seems like so much has come down in SEH since these postings.

[ariffe22]

I was reading through this old thread and wonder if h82rent followed the advice and counsel of the group or pulled the trigger in SEH. Seems like so much has come down in SEH since these postings.

[h82rent]

I did NOT buy that place, and I’m still renting. Still would like to buy, but I’m going to see how Obama effects things, what the economy does (or doesn’t!), how bad unemployment gets, etc. The earliest will be late-2009, but I’m thinking it will be more like 2010.

And I’m not going to buy in SEH at all, after considering traffic, and realizing how high HOA and mello roos are… forget it.

[h82rent]

I did NOT buy that place, and I’m still renting. Still would like to buy, but I’m going to see how Obama effects things, what the economy does (or doesn’t!), how bad unemployment gets, etc. The earliest will be late-2009, but I’m thinking it will be more like 2010.

And I’m not going to buy in SEH at all, after considering traffic, and realizing how high HOA and mello roos are… forget it.

[h82rent]

I did NOT buy that place, and I’m still renting. Still would like to buy, but I’m going to see how Obama effects things, what the economy does (or doesn’t!), how bad unemployment gets, etc. The earliest will be late-2009, but I’m thinking it will be more like 2010.

And I’m not going to buy in SEH at all, after considering traffic, and realizing how high HOA and mello roos are… forget it.

[h82rent]

I did NOT buy that place, and I’m still renting. Still would like to buy, but I’m going to see how Obama effects things, what the economy does (or doesn’t!), how bad unemployment gets, etc. The earliest will be late-2009, but I’m thinking it will be more like 2010.

And I’m not going to buy in SEH at all, after considering traffic, and realizing how high HOA and mello roos are… forget it.

[h82rent]

I did NOT buy that place, and I’m still renting. Still would like to buy, but I’m going to see how Obama effects things, what the economy does (or doesn’t!), how bad unemployment gets, etc. The earliest will be late-2009, but I’m thinking it will be more like 2010.

And I’m not going to buy in SEH at all, after considering traffic, and realizing how high HOA and mello roos are… forget it.

[LAAFTERHOURS]

4 bedroom 2500 sq foot homes have broken through the 500k price point and are making it further down into the mid 4s in SEH. If this person is looking at it for his family, long term home, it could be had for under 3K on a 30 yr fixed.

Thats getting close to what you could rent the place for. Just heard the sports club is in process. Also heard they are working on completion of the commercial spaces in the towncenter.

[LAAFTERHOURS]

4 bedroom 2500 sq foot homes have broken through the 500k price point and are making it further down into the mid 4s in SEH. If this person is looking at it for his family, long term home, it could be had for under 3K on a 30 yr fixed.

Thats getting close to what you could rent the place for. Just heard the sports club is in process. Also heard they are working on completion of the commercial spaces in the towncenter.

[LAAFTERHOURS]

4 bedroom 2500 sq foot homes have broken through the 500k price point and are making it further down into the mid 4s in SEH. If this person is looking at it for his family, long term home, it could be had for under 3K on a 30 yr fixed.

Thats getting close to what you could rent the place for. Just heard the sports club is in process. Also heard they are working on completion of the commercial spaces in the towncenter.

[LAAFTERHOURS]

4 bedroom 2500 sq foot homes have broken through the 500k price point and are making it further down into the mid 4s in SEH. If this person is looking at it for his family, long term home, it could be had for under 3K on a 30 yr fixed.

Thats getting close to what you could rent the place for. Just heard the sports club is in process. Also heard they are working on completion of the commercial spaces in the towncenter.

[LAAFTERHOURS]

4 bedroom 2500 sq foot homes have broken through the 500k price point and are making it further down into the mid 4s in SEH. If this person is looking at it for his family, long term home, it could be had for under 3K on a 30 yr fixed.

Thats getting close to what you could rent the place for. Just heard the sports club is in process. Also heard they are working on completion of the commercial spaces in the towncenter.

[sdnerd]

If you have to borrow from your 401K to get the 20% down, do not buy. Seriously.

When you have 20% down, AND at least 6-12 months salary in cash as an emergency fund then consider it. Look at the world economy right now!

Sounds like you are almost there now, so if you saved up the rest of this year you’d probably be in good shape. Plus, as mentioned prices are only going one direction right now.

Now, for those saying go rent $2,500 for a couple years. That’s $30,000 a year in rent. In 3 years is the house you are looking at going to lose $90,000 in value?

I’d say suck it up at least 1 more year where you are at now, save up, then strike. Your goal here is really to stay employed, and get the majority of the price corrections taken care of before the rent costs vs. price declines cross.

Just my .02.

[sdnerd]

If you have to borrow from your 401K to get the 20% down, do not buy. Seriously.

When you have 20% down, AND at least 6-12 months salary in cash as an emergency fund then consider it. Look at the world economy right now!

Sounds like you are almost there now, so if you saved up the rest of this year you’d probably be in good shape. Plus, as mentioned prices are only going one direction right now.

Now, for those saying go rent $2,500 for a couple years. That’s $30,000 a year in rent. In 3 years is the house you are looking at going to lose $90,000 in value?

I’d say suck it up at least 1 more year where you are at now, save up, then strike. Your goal here is really to stay employed, and get the majority of the price corrections taken care of before the rent costs vs. price declines cross.

Just my .02.

[sdnerd]

If you have to borrow from your 401K to get the 20% down, do not buy. Seriously.

When you have 20% down, AND at least 6-12 months salary in cash as an emergency fund then consider it. Look at the world economy right now!

Sounds like you are almost there now, so if you saved up the rest of this year you’d probably be in good shape. Plus, as mentioned prices are only going one direction right now.

Now, for those saying go rent $2,500 for a couple years. That’s $30,000 a year in rent. In 3 years is the house you are looking at going to lose $90,000 in value?

I’d say suck it up at least 1 more year where you are at now, save up, then strike. Your goal here is really to stay employed, and get the majority of the price corrections taken care of before the rent costs vs. price declines cross.

Just my .02.

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