Highlands Village in Carmel Valley: need advice!

[SD Realtor]

Hmmm I thought some posters said all the buyers pools had been exhausted.

You guys must all be ghosts of buyers gone past.

[Anonymous]

The buyers pool may be exhausted for the plan 1 and plan 2, but the plan 4 seems to still have huge interest.

The mello roos for the plan 4 is appoximately $85 month and I have not heard of any incentives other than a credit for using their lender, but I do not remember if it was $5K or $10K.

[Anonymous]

The buyers pool may be exhausted for the plan 1 and plan 2, but the plan 4 seems to still have huge interest.

The mello roos for the plan 4 is appoximately $85 month and I have not heard of any incentives other than a credit for using their lender, but I do not remember if it was $5K or $10K.

[Anonymous]

The buyers pool may be exhausted for the plan 1 and plan 2, but the plan 4 seems to still have huge interest.

The mello roos for the plan 4 is appoximately $85 month and I have not heard of any incentives other than a credit for using their lender, but I do not remember if it was $5K or $10K.

[Anonymous]

The buyers pool may be exhausted for the plan 1 and plan 2, but the plan 4 seems to still have huge interest.

The mello roos for the plan 4 is appoximately $85 month and I have not heard of any incentives other than a credit for using their lender, but I do not remember if it was $5K or $10K.

[Anonymous]

The buyers pool may be exhausted for the plan 1 and plan 2, but the plan 4 seems to still have huge interest.

The mello roos for the plan 4 is appoximately $85 month and I have not heard of any incentives other than a credit for using their lender, but I do not remember if it was $5K or $10K.

[lepetitangel]

Hi Cabal,

Thanks for your analysis. Really appreciate it.

Yah the townhouse we purchased in 2007 was not a good investment. We have and do live happily in our 2-bedroom/2.5-bath townhouse/condo. We’re not under water as my husband saved up quite a bit the first 5 years when he started working (he was single and barely did anything fun :P) We’re not under water. But we’ve been thinking if we should refinanced as we had a 5.5% 30-year fixed rate. We can potentially get 4.62% rate now. If we refi for another 30-year, we can get the monthly payment down another few hundred bucks.

Regarding renting this property out, I want to know what people think/know in terms of renting 2bed-2bath places out in 4S ranch. At some point we did post an ad on craiglist and I got 4 inquiries within 2-hrs cuz a lot of people who have small kids seem to be interested in the area as poway school is still considerably a good one. I think maybe a lot of the family who lost their homes during foreclosure or short-sale can no longer afford to live in their 500k~700K house and now need to rent a smaller space. Do you know if people are having trouble renting out places in 4S? We were thinking about renting for like $1800/month.

As for the new property we want to buy, we actually saved up quite a bit and will not get a huge loan. But again we cannot afford a real SFH cuz all SFHs in CV are like at least 650+. I know I want to buy in good location and that’s why I choose CV. But with CV pricing, I cannot afford a real SFH but rather just a large townhome (2000-sqft).

Anyways…want people’s thought on the situation. We’ll def. make sure we can pay both mortgages even if we cannot rent the place out right away.

Also you’re right about the baby thing…gonna need grand parents’ help for the first year for sure.

[lepetitangel]

Hi Cabal,

Thanks for your analysis. Really appreciate it.

Yah the townhouse we purchased in 2007 was not a good investment. We have and do live happily in our 2-bedroom/2.5-bath townhouse/condo. We’re not under water as my husband saved up quite a bit the first 5 years when he started working (he was single and barely did anything fun :P) We’re not under water. But we’ve been thinking if we should refinanced as we had a 5.5% 30-year fixed rate. We can potentially get 4.62% rate now. If we refi for another 30-year, we can get the monthly payment down another few hundred bucks.

Regarding renting this property out, I want to know what people think/know in terms of renting 2bed-2bath places out in 4S ranch. At some point we did post an ad on craiglist and I got 4 inquiries within 2-hrs cuz a lot of people who have small kids seem to be interested in the area as poway school is still considerably a good one. I think maybe a lot of the family who lost their homes during foreclosure or short-sale can no longer afford to live in their 500k~700K house and now need to rent a smaller space. Do you know if people are having trouble renting out places in 4S? We were thinking about renting for like $1800/month.

As for the new property we want to buy, we actually saved up quite a bit and will not get a huge loan. But again we cannot afford a real SFH cuz all SFHs in CV are like at least 650+. I know I want to buy in good location and that’s why I choose CV. But with CV pricing, I cannot afford a real SFH but rather just a large townhome (2000-sqft).

Anyways…want people’s thought on the situation. We’ll def. make sure we can pay both mortgages even if we cannot rent the place out right away.

Also you’re right about the baby thing…gonna need grand parents’ help for the first year for sure.

[lepetitangel]

Hi Cabal,

Thanks for your analysis. Really appreciate it.

Yah the townhouse we purchased in 2007 was not a good investment. We have and do live happily in our 2-bedroom/2.5-bath townhouse/condo. We’re not under water as my husband saved up quite a bit the first 5 years when he started working (he was single and barely did anything fun :P) We’re not under water. But we’ve been thinking if we should refinanced as we had a 5.5% 30-year fixed rate. We can potentially get 4.62% rate now. If we refi for another 30-year, we can get the monthly payment down another few hundred bucks.

Regarding renting this property out, I want to know what people think/know in terms of renting 2bed-2bath places out in 4S ranch. At some point we did post an ad on craiglist and I got 4 inquiries within 2-hrs cuz a lot of people who have small kids seem to be interested in the area as poway school is still considerably a good one. I think maybe a lot of the family who lost their homes during foreclosure or short-sale can no longer afford to live in their 500k~700K house and now need to rent a smaller space. Do you know if people are having trouble renting out places in 4S? We were thinking about renting for like $1800/month.

As for the new property we want to buy, we actually saved up quite a bit and will not get a huge loan. But again we cannot afford a real SFH cuz all SFHs in CV are like at least 650+. I know I want to buy in good location and that’s why I choose CV. But with CV pricing, I cannot afford a real SFH but rather just a large townhome (2000-sqft).

Anyways…want people’s thought on the situation. We’ll def. make sure we can pay both mortgages even if we cannot rent the place out right away.

Also you’re right about the baby thing…gonna need grand parents’ help for the first year for sure.

[lepetitangel]

Hi Cabal,

Thanks for your analysis. Really appreciate it.

Yah the townhouse we purchased in 2007 was not a good investment. We have and do live happily in our 2-bedroom/2.5-bath townhouse/condo. We’re not under water as my husband saved up quite a bit the first 5 years when he started working (he was single and barely did anything fun :P) We’re not under water. But we’ve been thinking if we should refinanced as we had a 5.5% 30-year fixed rate. We can potentially get 4.62% rate now. If we refi for another 30-year, we can get the monthly payment down another few hundred bucks.

Regarding renting this property out, I want to know what people think/know in terms of renting 2bed-2bath places out in 4S ranch. At some point we did post an ad on craiglist and I got 4 inquiries within 2-hrs cuz a lot of people who have small kids seem to be interested in the area as poway school is still considerably a good one. I think maybe a lot of the family who lost their homes during foreclosure or short-sale can no longer afford to live in their 500k~700K house and now need to rent a smaller space. Do you know if people are having trouble renting out places in 4S? We were thinking about renting for like $1800/month.

As for the new property we want to buy, we actually saved up quite a bit and will not get a huge loan. But again we cannot afford a real SFH cuz all SFHs in CV are like at least 650+. I know I want to buy in good location and that’s why I choose CV. But with CV pricing, I cannot afford a real SFH but rather just a large townhome (2000-sqft).

Anyways…want people’s thought on the situation. We’ll def. make sure we can pay both mortgages even if we cannot rent the place out right away.

Also you’re right about the baby thing…gonna need grand parents’ help for the first year for sure.

[lepetitangel]

Hi Cabal,

Thanks for your analysis. Really appreciate it.

Yah the townhouse we purchased in 2007 was not a good investment. We have and do live happily in our 2-bedroom/2.5-bath townhouse/condo. We’re not under water as my husband saved up quite a bit the first 5 years when he started working (he was single and barely did anything fun :P) We’re not under water. But we’ve been thinking if we should refinanced as we had a 5.5% 30-year fixed rate. We can potentially get 4.62% rate now. If we refi for another 30-year, we can get the monthly payment down another few hundred bucks.

Regarding renting this property out, I want to know what people think/know in terms of renting 2bed-2bath places out in 4S ranch. At some point we did post an ad on craiglist and I got 4 inquiries within 2-hrs cuz a lot of people who have small kids seem to be interested in the area as poway school is still considerably a good one. I think maybe a lot of the family who lost their homes during foreclosure or short-sale can no longer afford to live in their 500k~700K house and now need to rent a smaller space. Do you know if people are having trouble renting out places in 4S? We were thinking about renting for like $1800/month.

As for the new property we want to buy, we actually saved up quite a bit and will not get a huge loan. But again we cannot afford a real SFH cuz all SFHs in CV are like at least 650+. I know I want to buy in good location and that’s why I choose CV. But with CV pricing, I cannot afford a real SFH but rather just a large townhome (2000-sqft).

Anyways…want people’s thought on the situation. We’ll def. make sure we can pay both mortgages even if we cannot rent the place out right away.

Also you’re right about the baby thing…gonna need grand parents’ help for the first year for sure.

[Coronita]

[quote=lepetitangel]Hi Cabal,

Thanks for your analysis. Really appreciate it.

Yah the townhouse we purchased in 2007 was not a good investment. We have and do live happily in our 2-bedroom/2.5-bath townhouse/condo. We’re not under water as my husband saved up quite a bit the first 5 years when he started working (he was single and barely did anything fun :P) We’re not under water. But we’ve been thinking if we should refinanced as we had a 5.5% 30-year fixed rate. We can potentially get 4.62% rate now. If we refi for another 30-year, we can get the monthly payment down another few hundred bucks.

Regarding renting this property out, I want to know what people think/know in terms of renting 2bed-2bath places out in 4S ranch. At some point we did post an ad on craiglist and I got 4 inquiries within 2-hrs cuz a lot of people who have small kids seem to be interested in the area as poway school is still considerably a good one. I think maybe a lot of the family who lost their homes during foreclosure or short-sale can no longer afford to live in their 500k~700K house and now need to rent a smaller space. Do you know if people are having trouble renting out places in 4S? We were thinking about renting for like $1800/month.

As for the new property we want to buy, we actually saved up quite a bit and will not get a huge loan. But again we cannot afford a real SFH cuz all SFHs in CV are like at least 650+. I know I want to buy in good location and that’s why I choose CV. But with CV pricing, I cannot afford a real SFH but rather just a large townhome (2000-sqft).

Anyways…want people’s thought on the situation. We’ll def. make sure we can pay both mortgages even if we cannot rent the place out right away.

Also you’re right about the baby thing…gonna need grand parents’ help for the first year for sure.[/quote]

I still think 600ish is a lot of money for a townhome and you’re going to be wanting a sfh soon after…

How long do you think it would take to save to buy a SFH that is $700k? If you are indeed want to buy now, any chance of borrowing from said parent?

I wouldn’t recommend holding onto the other townhome if you purchase new. Sounds like you’re going to be stretching a bit to buy this new place..

Even if you rent out at $1700, are you even going to be able to break even with mortgage/proptax/hoa/etc? If not, why bother subdizing other people for renting? You’ll not going to be seeing much appreciation in the foreseeable too.

Question:

If

a)Holding onto existing condo + buying new $600k townhome in highland village doable

then how doable is

b)Selling existing condo and buying a $700k sfh… How much equity do you have in the existing place?

[Coronita]

[quote=lepetitangel]Hi Cabal,

Thanks for your analysis. Really appreciate it.

Yah the townhouse we purchased in 2007 was not a good investment. We have and do live happily in our 2-bedroom/2.5-bath townhouse/condo. We’re not under water as my husband saved up quite a bit the first 5 years when he started working (he was single and barely did anything fun :P) We’re not under water. But we’ve been thinking if we should refinanced as we had a 5.5% 30-year fixed rate. We can potentially get 4.62% rate now. If we refi for another 30-year, we can get the monthly payment down another few hundred bucks.

Regarding renting this property out, I want to know what people think/know in terms of renting 2bed-2bath places out in 4S ranch. At some point we did post an ad on craiglist and I got 4 inquiries within 2-hrs cuz a lot of people who have small kids seem to be interested in the area as poway school is still considerably a good one. I think maybe a lot of the family who lost their homes during foreclosure or short-sale can no longer afford to live in their 500k~700K house and now need to rent a smaller space. Do you know if people are having trouble renting out places in 4S? We were thinking about renting for like $1800/month.

As for the new property we want to buy, we actually saved up quite a bit and will not get a huge loan. But again we cannot afford a real SFH cuz all SFHs in CV are like at least 650+. I know I want to buy in good location and that’s why I choose CV. But with CV pricing, I cannot afford a real SFH but rather just a large townhome (2000-sqft).

Anyways…want people’s thought on the situation. We’ll def. make sure we can pay both mortgages even if we cannot rent the place out right away.

Also you’re right about the baby thing…gonna need grand parents’ help for the first year for sure.[/quote]

I still think 600ish is a lot of money for a townhome and you’re going to be wanting a sfh soon after…

How long do you think it would take to save to buy a SFH that is $700k? If you are indeed want to buy now, any chance of borrowing from said parent?

I wouldn’t recommend holding onto the other townhome if you purchase new. Sounds like you’re going to be stretching a bit to buy this new place..

Even if you rent out at $1700, are you even going to be able to break even with mortgage/proptax/hoa/etc? If not, why bother subdizing other people for renting? You’ll not going to be seeing much appreciation in the foreseeable too.

Question:

If

a)Holding onto existing condo + buying new $600k townhome in highland village doable

then how doable is

b)Selling existing condo and buying a $700k sfh… How much equity do you have in the existing place?

[Coronita]

[quote=lepetitangel]Hi Cabal,

Thanks for your analysis. Really appreciate it.

Yah the townhouse we purchased in 2007 was not a good investment. We have and do live happily in our 2-bedroom/2.5-bath townhouse/condo. We’re not under water as my husband saved up quite a bit the first 5 years when he started working (he was single and barely did anything fun :P) We’re not under water. But we’ve been thinking if we should refinanced as we had a 5.5% 30-year fixed rate. We can potentially get 4.62% rate now. If we refi for another 30-year, we can get the monthly payment down another few hundred bucks.

Regarding renting this property out, I want to know what people think/know in terms of renting 2bed-2bath places out in 4S ranch. At some point we did post an ad on craiglist and I got 4 inquiries within 2-hrs cuz a lot of people who have small kids seem to be interested in the area as poway school is still considerably a good one. I think maybe a lot of the family who lost their homes during foreclosure or short-sale can no longer afford to live in their 500k~700K house and now need to rent a smaller space. Do you know if people are having trouble renting out places in 4S? We were thinking about renting for like $1800/month.

As for the new property we want to buy, we actually saved up quite a bit and will not get a huge loan. But again we cannot afford a real SFH cuz all SFHs in CV are like at least 650+. I know I want to buy in good location and that’s why I choose CV. But with CV pricing, I cannot afford a real SFH but rather just a large townhome (2000-sqft).

Anyways…want people’s thought on the situation. We’ll def. make sure we can pay both mortgages even if we cannot rent the place out right away.

Also you’re right about the baby thing…gonna need grand parents’ help for the first year for sure.[/quote]

I still think 600ish is a lot of money for a townhome and you’re going to be wanting a sfh soon after…

How long do you think it would take to save to buy a SFH that is $700k? If you are indeed want to buy now, any chance of borrowing from said parent?

I wouldn’t recommend holding onto the other townhome if you purchase new. Sounds like you’re going to be stretching a bit to buy this new place..

Even if you rent out at $1700, are you even going to be able to break even with mortgage/proptax/hoa/etc? If not, why bother subdizing other people for renting? You’ll not going to be seeing much appreciation in the foreseeable too.

Question:

If

a)Holding onto existing condo + buying new $600k townhome in highland village doable

then how doable is

b)Selling existing condo and buying a $700k sfh… How much equity do you have in the existing place?

[Coronita]

[quote=lepetitangel]Hi Cabal,

Thanks for your analysis. Really appreciate it.

Yah the townhouse we purchased in 2007 was not a good investment. We have and do live happily in our 2-bedroom/2.5-bath townhouse/condo. We’re not under water as my husband saved up quite a bit the first 5 years when he started working (he was single and barely did anything fun :P) We’re not under water. But we’ve been thinking if we should refinanced as we had a 5.5% 30-year fixed rate. We can potentially get 4.62% rate now. If we refi for another 30-year, we can get the monthly payment down another few hundred bucks.

Regarding renting this property out, I want to know what people think/know in terms of renting 2bed-2bath places out in 4S ranch. At some point we did post an ad on craiglist and I got 4 inquiries within 2-hrs cuz a lot of people who have small kids seem to be interested in the area as poway school is still considerably a good one. I think maybe a lot of the family who lost their homes during foreclosure or short-sale can no longer afford to live in their 500k~700K house and now need to rent a smaller space. Do you know if people are having trouble renting out places in 4S? We were thinking about renting for like $1800/month.

As for the new property we want to buy, we actually saved up quite a bit and will not get a huge loan. But again we cannot afford a real SFH cuz all SFHs in CV are like at least 650+. I know I want to buy in good location and that’s why I choose CV. But with CV pricing, I cannot afford a real SFH but rather just a large townhome (2000-sqft).

Anyways…want people’s thought on the situation. We’ll def. make sure we can pay both mortgages even if we cannot rent the place out right away.

Also you’re right about the baby thing…gonna need grand parents’ help for the first year for sure.[/quote]

I still think 600ish is a lot of money for a townhome and you’re going to be wanting a sfh soon after…

How long do you think it would take to save to buy a SFH that is $700k? If you are indeed want to buy now, any chance of borrowing from said parent?

I wouldn’t recommend holding onto the other townhome if you purchase new. Sounds like you’re going to be stretching a bit to buy this new place..

Even if you rent out at $1700, are you even going to be able to break even with mortgage/proptax/hoa/etc? If not, why bother subdizing other people for renting? You’ll not going to be seeing much appreciation in the foreseeable too.

Question:

If

a)Holding onto existing condo + buying new $600k townhome in highland village doable

then how doable is

b)Selling existing condo and buying a $700k sfh… How much equity do you have in the existing place?

[Author]

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