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NotCranky.
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December 13, 2007 at 11:04 AM #116203December 13, 2007 at 11:04 AM #116246
sdrealtor
ParticipantSD R,
You could have gotten 2 of them. Check out 2237/2239 Levante. It’s a duplex that just closed last week for 880K. I had my eyes on it and would have grabbed it if I could have gotten it for $800K. With 20% down and a 30 yr fixed loan that’s about 4K P & I. Thrown in $675 taxes and $175 insurance and you got a property that is cash flow positive.sdr
December 13, 2007 at 11:04 AM #116248ParticipantSD R,
You could have gotten 2 of them. Check out 2237/2239 Levante. It’s a duplex that just closed last week for 880K. I had my eyes on it and would have grabbed it if I could have gotten it for $800K. With 20% down and a 30 yr fixed loan that’s about 4K P & I. Thrown in $675 taxes and $175 insurance and you got a property that is cash flow positive.sdr
December 13, 2007 at 11:22 AM #116073Ex-SD
Participantsdrealtor: You are correct. As an example, where I live in SC (major city) that house would rent for around $1800-$2000 per month. But the taxes would only be around $1700-$1800 per year and the house would probably be constructed with bricks and you would have a much larger lot.
San Diego is one hell of nice place to live and there’s a price that one can extract from people to live in SD………but now that some sanity has returned to the lenders with their lending practices, prices are going to have to meet income ratios or the majority of people will be priced out of owning and the inventory will grow much larger than it already is today.December 13, 2007 at 11:22 AM #116204Participantsdrealtor: You are correct. As an example, where I live in SC (major city) that house would rent for around $1800-$2000 per month. But the taxes would only be around $1700-$1800 per year and the house would probably be constructed with bricks and you would have a much larger lot.
San Diego is one hell of nice place to live and there’s a price that one can extract from people to live in SD………but now that some sanity has returned to the lenders with their lending practices, prices are going to have to meet income ratios or the majority of people will be priced out of owning and the inventory will grow much larger than it already is today.December 13, 2007 at 11:22 AM #116237Participantsdrealtor: You are correct. As an example, where I live in SC (major city) that house would rent for around $1800-$2000 per month. But the taxes would only be around $1700-$1800 per year and the house would probably be constructed with bricks and you would have a much larger lot.
San Diego is one hell of nice place to live and there’s a price that one can extract from people to live in SD………but now that some sanity has returned to the lenders with their lending practices, prices are going to have to meet income ratios or the majority of people will be priced out of owning and the inventory will grow much larger than it already is today.December 13, 2007 at 11:22 AM #116238Participantsdrealtor: You are correct. As an example, where I live in SC (major city) that house would rent for around $1800-$2000 per month. But the taxes would only be around $1700-$1800 per year and the house would probably be constructed with bricks and you would have a much larger lot.
San Diego is one hell of nice place to live and there’s a price that one can extract from people to live in SD………but now that some sanity has returned to the lenders with their lending practices, prices are going to have to meet income ratios or the majority of people will be priced out of owning and the inventory will grow much larger than it already is today.December 13, 2007 at 11:22 AM #116281Participantsdrealtor: You are correct. As an example, where I live in SC (major city) that house would rent for around $1800-$2000 per month. But the taxes would only be around $1700-$1800 per year and the house would probably be constructed with bricks and you would have a much larger lot.
San Diego is one hell of nice place to live and there’s a price that one can extract from people to live in SD………but now that some sanity has returned to the lenders with their lending practices, prices are going to have to meet income ratios or the majority of people will be priced out of owning and the inventory will grow much larger than it already is today.December 13, 2007 at 11:22 AM #116283Participantsdrealtor: You are correct. As an example, where I live in SC (major city) that house would rent for around $1800-$2000 per month. But the taxes would only be around $1700-$1800 per year and the house would probably be constructed with bricks and you would have a much larger lot.
San Diego is one hell of nice place to live and there’s a price that one can extract from people to live in SD………but now that some sanity has returned to the lenders with their lending practices, prices are going to have to meet income ratios or the majority of people will be priced out of owning and the inventory will grow much larger than it already is today.December 13, 2007 at 11:39 AM #116105ParticipantEx-SD
SD and SC are 2 different worlds in terms of economy, desireability, job markets etc. Compare SD prices to a non-bubble area on the East Coast that is within a 30 minute drive of a major metro (Balt, DC, Philly, NY, Boston) and you will have my attention. Right now you live with the Clampetts.BTW, in those areas RE taxes are considerably higher. My BIL lives in a house in one of those areas he bought around 400K which is now worth 700K 10+ years later. His taxes are over 20,000 per year and his utility bills average around 800/month. He just paid about $1,000 to get leaves raked off his 1/3 acre property.
sdr
December 13, 2007 at 11:39 AM #116234ParticipantEx-SD
SD and SC are 2 different worlds in terms of economy, desireability, job markets etc. Compare SD prices to a non-bubble area on the East Coast that is within a 30 minute drive of a major metro (Balt, DC, Philly, NY, Boston) and you will have my attention. Right now you live with the Clampetts.BTW, in those areas RE taxes are considerably higher. My BIL lives in a house in one of those areas he bought around 400K which is now worth 700K 10+ years later. His taxes are over 20,000 per year and his utility bills average around 800/month. He just paid about $1,000 to get leaves raked off his 1/3 acre property.
sdr
December 13, 2007 at 11:39 AM #116267ParticipantEx-SD
SD and SC are 2 different worlds in terms of economy, desireability, job markets etc. Compare SD prices to a non-bubble area on the East Coast that is within a 30 minute drive of a major metro (Balt, DC, Philly, NY, Boston) and you will have my attention. Right now you live with the Clampetts.BTW, in those areas RE taxes are considerably higher. My BIL lives in a house in one of those areas he bought around 400K which is now worth 700K 10+ years later. His taxes are over 20,000 per year and his utility bills average around 800/month. He just paid about $1,000 to get leaves raked off his 1/3 acre property.
sdr
December 13, 2007 at 11:39 AM #116311ParticipantEx-SD
SD and SC are 2 different worlds in terms of economy, desireability, job markets etc. Compare SD prices to a non-bubble area on the East Coast that is within a 30 minute drive of a major metro (Balt, DC, Philly, NY, Boston) and you will have my attention. Right now you live with the Clampetts.BTW, in those areas RE taxes are considerably higher. My BIL lives in a house in one of those areas he bought around 400K which is now worth 700K 10+ years later. His taxes are over 20,000 per year and his utility bills average around 800/month. He just paid about $1,000 to get leaves raked off his 1/3 acre property.
sdr
December 13, 2007 at 11:39 AM #116323ParticipantEx-SD
SD and SC are 2 different worlds in terms of economy, desireability, job markets etc. Compare SD prices to a non-bubble area on the East Coast that is within a 30 minute drive of a major metro (Balt, DC, Philly, NY, Boston) and you will have my attention. Right now you live with the Clampetts.BTW, in those areas RE taxes are considerably higher. My BIL lives in a house in one of those areas he bought around 400K which is now worth 700K 10+ years later. His taxes are over 20,000 per year and his utility bills average around 800/month. He just paid about $1,000 to get leaves raked off his 1/3 acre property.
sdr
December 13, 2007 at 12:19 PM #116170Participantsdrealtor: You are woefully un-informed about the business triangle area of Greenville-Spartanburg-Anderson, SC. We have the only BMW automobile plant in North America and a bunch of suppliers to this facility are also in these counties. We do not, repeat, do not live with the Clampetts. You should do your homework before you pop off at the mouth. Frankly, you strike me as someone who has little understanding of life outside of CA and it’s over-priced, house of cards economy. But then again, that’s your problem, not mine.It appears to me from your many posts that due to the fact that you are in the R.E. business, that this correction is eating you up and you want prices to remain high so you can keep making fat commissions for doing very little. Am I correct?
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