How much further will the SD market go down.

[jpinpb]

ibjames – same here. Don’t expect it to equal rents, but close. If I want wood floor instead of carpet. That’s my thing. Don’t want to fix up someone’s rental. Want to fix my own place, but I will rent until the numbers make sents.

[CA renter]

lbjames,

I think what Rustico is trying to say (and it is what I’m saying), is that you can buy a house TODAY that will break-even as a rental.

We sold a house in Oceanside in Q2, 2004 for $400K, and did it in a hour. Right now, you can get a comparable house for under $200K. You could probably rent it out for $1,200-$1,600, depending on how much work you want to put into it and exactly where it is and what you want to deal with for tennants (multiple families can pay more, but do you want that in your rental?). If you put 20% down and have excellent credit, you could break even if you can find something that just needs a little cosmetic work.

Even I (a long-time uber-bear) am being tempted by a few things in O’side and Escondido (for rentals). After waiting for so many years, it’s very difficult to sit on one’s hands and wait when we see stuff that just might make sense — even though it will very likely get worse.

If you aren’t picky about where you live, you can buy today with fairly mild downside potential. This is why you’re seeing the sales volume pick up. I think the downside for **sales volume** is pretty limited from here on out. What’s left is the price drops. 🙂

[CA renter]

lbjames,

I think what Rustico is trying to say (and it is what I’m saying), is that you can buy a house TODAY that will break-even as a rental.

We sold a house in Oceanside in Q2, 2004 for $400K, and did it in a hour. Right now, you can get a comparable house for under $200K. You could probably rent it out for $1,200-$1,600, depending on how much work you want to put into it and exactly where it is and what you want to deal with for tennants (multiple families can pay more, but do you want that in your rental?). If you put 20% down and have excellent credit, you could break even if you can find something that just needs a little cosmetic work.

Even I (a long-time uber-bear) am being tempted by a few things in O’side and Escondido (for rentals). After waiting for so many years, it’s very difficult to sit on one’s hands and wait when we see stuff that just might make sense — even though it will very likely get worse.

If you aren’t picky about where you live, you can buy today with fairly mild downside potential. This is why you’re seeing the sales volume pick up. I think the downside for **sales volume** is pretty limited from here on out. What’s left is the price drops. 🙂

[CA renter]

lbjames,

I think what Rustico is trying to say (and it is what I’m saying), is that you can buy a house TODAY that will break-even as a rental.

We sold a house in Oceanside in Q2, 2004 for $400K, and did it in a hour. Right now, you can get a comparable house for under $200K. You could probably rent it out for $1,200-$1,600, depending on how much work you want to put into it and exactly where it is and what you want to deal with for tennants (multiple families can pay more, but do you want that in your rental?). If you put 20% down and have excellent credit, you could break even if you can find something that just needs a little cosmetic work.

Even I (a long-time uber-bear) am being tempted by a few things in O’side and Escondido (for rentals). After waiting for so many years, it’s very difficult to sit on one’s hands and wait when we see stuff that just might make sense — even though it will very likely get worse.

If you aren’t picky about where you live, you can buy today with fairly mild downside potential. This is why you’re seeing the sales volume pick up. I think the downside for **sales volume** is pretty limited from here on out. What’s left is the price drops. 🙂

[CA renter]

lbjames,

I think what Rustico is trying to say (and it is what I’m saying), is that you can buy a house TODAY that will break-even as a rental.

We sold a house in Oceanside in Q2, 2004 for $400K, and did it in a hour. Right now, you can get a comparable house for under $200K. You could probably rent it out for $1,200-$1,600, depending on how much work you want to put into it and exactly where it is and what you want to deal with for tennants (multiple families can pay more, but do you want that in your rental?). If you put 20% down and have excellent credit, you could break even if you can find something that just needs a little cosmetic work.

Even I (a long-time uber-bear) am being tempted by a few things in O’side and Escondido (for rentals). After waiting for so many years, it’s very difficult to sit on one’s hands and wait when we see stuff that just might make sense — even though it will very likely get worse.

If you aren’t picky about where you live, you can buy today with fairly mild downside potential. This is why you’re seeing the sales volume pick up. I think the downside for **sales volume** is pretty limited from here on out. What’s left is the price drops. 🙂

[CA renter]

lbjames,

I think what Rustico is trying to say (and it is what I’m saying), is that you can buy a house TODAY that will break-even as a rental.

We sold a house in Oceanside in Q2, 2004 for $400K, and did it in a hour. Right now, you can get a comparable house for under $200K. You could probably rent it out for $1,200-$1,600, depending on how much work you want to put into it and exactly where it is and what you want to deal with for tennants (multiple families can pay more, but do you want that in your rental?). If you put 20% down and have excellent credit, you could break even if you can find something that just needs a little cosmetic work.

Even I (a long-time uber-bear) am being tempted by a few things in O’side and Escondido (for rentals). After waiting for so many years, it’s very difficult to sit on one’s hands and wait when we see stuff that just might make sense — even though it will very likely get worse.

If you aren’t picky about where you live, you can buy today with fairly mild downside potential. This is why you’re seeing the sales volume pick up. I think the downside for **sales volume** is pretty limited from here on out. What’s left is the price drops. 🙂

[LAAFTERHOURS]

4s Renter

Is it just me or does anyone else have a lot of difficulty understanding what 5Year is saying?

[LAAFTERHOURS]

4s Renter

Is it just me or does anyone else have a lot of difficulty understanding what 5Year is saying?

[LAAFTERHOURS]

4s Renter

Is it just me or does anyone else have a lot of difficulty understanding what 5Year is saying?

[LAAFTERHOURS]

4s Renter

Is it just me or does anyone else have a lot of difficulty understanding what 5Year is saying?

[LAAFTERHOURS]

4s Renter

Is it just me or does anyone else have a lot of difficulty understanding what 5Year is saying?

[NotCranky]

Your point is correct too alarmclock.However. Data does not a real estate market make. Why is that O.K.for us to claim that in 2005 but not 2008,9,10? Yeah the market stinks but it is starting to have potential. I bought a property in 2004 and my neigbor just bought the one next to me for nearly 3 times that. No no no, the data says that can’t happen.

[NotCranky]

Your point is correct too alarmclock.However. Data does not a real estate market make. Why is that O.K.for us to claim that in 2005 but not 2008,9,10? Yeah the market stinks but it is starting to have potential. I bought a property in 2004 and my neigbor just bought the one next to me for nearly 3 times that. No no no, the data says that can’t happen.

[NotCranky]

Your point is correct too alarmclock.However. Data does not a real estate market make. Why is that O.K.for us to claim that in 2005 but not 2008,9,10? Yeah the market stinks but it is starting to have potential. I bought a property in 2004 and my neigbor just bought the one next to me for nearly 3 times that. No no no, the data says that can’t happen.

[NotCranky]

Your point is correct too alarmclock.However. Data does not a real estate market make. Why is that O.K.for us to claim that in 2005 but not 2008,9,10? Yeah the market stinks but it is starting to have potential. I bought a property in 2004 and my neigbor just bought the one next to me for nearly 3 times that. No no no, the data says that can’t happen.

[Author]

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