- This topic has 125 replies, 15 voices, and was last updated 16 years, 10 months ago by
Nor-LA-SD-guy.
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February 18, 2008 at 11:18 AM #155293February 18, 2008 at 11:45 AM #154940
Anonymous
Guestbearvine, I am checking out Morgan Hill as well, and I am not a real estate expert nor do I play one on television. $75/sq foot would be awesome, no doubt about it. But the problem I see is the possibility that hundreds if not thousands of fellow bubble sitters might be scoping the same property/area at the same price point and if all collectively agree that “the bottom has been reached, let’s go out and buy” doesn’t supply and demand kick back in? Unless you anticipate such massive inventory that this will not be an issue. Isn’t the key to getting the property you want to be a half-step ahead of the bubble sitting herd and maybe buy in at 85 instead of 75, or is that “knife-catching?” Or what if 75 is never reached, at what point are you prepared to acknowledge a bottom and get back in? The problem I see (and maybe you can educate me) is that when everyone collectively agrees it’s the bottom, then its already too late to get the property you want?
February 18, 2008 at 11:45 AM #155219Guestbearvine, I am checking out Morgan Hill as well, and I am not a real estate expert nor do I play one on television. $75/sq foot would be awesome, no doubt about it. But the problem I see is the possibility that hundreds if not thousands of fellow bubble sitters might be scoping the same property/area at the same price point and if all collectively agree that “the bottom has been reached, let’s go out and buy” doesn’t supply and demand kick back in? Unless you anticipate such massive inventory that this will not be an issue. Isn’t the key to getting the property you want to be a half-step ahead of the bubble sitting herd and maybe buy in at 85 instead of 75, or is that “knife-catching?” Or what if 75 is never reached, at what point are you prepared to acknowledge a bottom and get back in? The problem I see (and maybe you can educate me) is that when everyone collectively agrees it’s the bottom, then its already too late to get the property you want?
February 18, 2008 at 11:45 AM #155228Guestbearvine, I am checking out Morgan Hill as well, and I am not a real estate expert nor do I play one on television. $75/sq foot would be awesome, no doubt about it. But the problem I see is the possibility that hundreds if not thousands of fellow bubble sitters might be scoping the same property/area at the same price point and if all collectively agree that “the bottom has been reached, let’s go out and buy” doesn’t supply and demand kick back in? Unless you anticipate such massive inventory that this will not be an issue. Isn’t the key to getting the property you want to be a half-step ahead of the bubble sitting herd and maybe buy in at 85 instead of 75, or is that “knife-catching?” Or what if 75 is never reached, at what point are you prepared to acknowledge a bottom and get back in? The problem I see (and maybe you can educate me) is that when everyone collectively agrees it’s the bottom, then its already too late to get the property you want?
February 18, 2008 at 11:45 AM #155241Guestbearvine, I am checking out Morgan Hill as well, and I am not a real estate expert nor do I play one on television. $75/sq foot would be awesome, no doubt about it. But the problem I see is the possibility that hundreds if not thousands of fellow bubble sitters might be scoping the same property/area at the same price point and if all collectively agree that “the bottom has been reached, let’s go out and buy” doesn’t supply and demand kick back in? Unless you anticipate such massive inventory that this will not be an issue. Isn’t the key to getting the property you want to be a half-step ahead of the bubble sitting herd and maybe buy in at 85 instead of 75, or is that “knife-catching?” Or what if 75 is never reached, at what point are you prepared to acknowledge a bottom and get back in? The problem I see (and maybe you can educate me) is that when everyone collectively agrees it’s the bottom, then its already too late to get the property you want?
February 18, 2008 at 11:45 AM #155318Guestbearvine, I am checking out Morgan Hill as well, and I am not a real estate expert nor do I play one on television. $75/sq foot would be awesome, no doubt about it. But the problem I see is the possibility that hundreds if not thousands of fellow bubble sitters might be scoping the same property/area at the same price point and if all collectively agree that “the bottom has been reached, let’s go out and buy” doesn’t supply and demand kick back in? Unless you anticipate such massive inventory that this will not be an issue. Isn’t the key to getting the property you want to be a half-step ahead of the bubble sitting herd and maybe buy in at 85 instead of 75, or is that “knife-catching?” Or what if 75 is never reached, at what point are you prepared to acknowledge a bottom and get back in? The problem I see (and maybe you can educate me) is that when everyone collectively agrees it’s the bottom, then its already too late to get the property you want?
February 18, 2008 at 12:34 PM #154956patientlywaiting
ParticipantNor-La-SD-Guy wrote:
Me I pull the trigger already (got a new place for 108 SQF all the upgrades you could want with a nice view and the back yard is the national forest). .
Maybe it will go lower, who knows but I am happy with what I got and am not going anywhere for maybe 15 or so years.
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It’s fascinating to watch human psychology. Once people buy they think that prices can’t drop much anymore.
Considering Mello Roos and HOAs, Temecula’s median should be right around $200k.
February 18, 2008 at 12:34 PM #155234ParticipantNor-La-SD-Guy wrote:
Me I pull the trigger already (got a new place for 108 SQF all the upgrades you could want with a nice view and the back yard is the national forest). .
Maybe it will go lower, who knows but I am happy with what I got and am not going anywhere for maybe 15 or so years.
*
It’s fascinating to watch human psychology. Once people buy they think that prices can’t drop much anymore.
Considering Mello Roos and HOAs, Temecula’s median should be right around $200k.
February 18, 2008 at 12:34 PM #155242ParticipantNor-La-SD-Guy wrote:
Me I pull the trigger already (got a new place for 108 SQF all the upgrades you could want with a nice view and the back yard is the national forest). .
Maybe it will go lower, who knows but I am happy with what I got and am not going anywhere for maybe 15 or so years.
*
It’s fascinating to watch human psychology. Once people buy they think that prices can’t drop much anymore.
Considering Mello Roos and HOAs, Temecula’s median should be right around $200k.
February 18, 2008 at 12:34 PM #155256ParticipantNor-La-SD-Guy wrote:
Me I pull the trigger already (got a new place for 108 SQF all the upgrades you could want with a nice view and the back yard is the national forest). .
Maybe it will go lower, who knows but I am happy with what I got and am not going anywhere for maybe 15 or so years.
*
It’s fascinating to watch human psychology. Once people buy they think that prices can’t drop much anymore.
Considering Mello Roos and HOAs, Temecula’s median should be right around $200k.
February 18, 2008 at 12:34 PM #155333ParticipantNor-La-SD-Guy wrote:
Me I pull the trigger already (got a new place for 108 SQF all the upgrades you could want with a nice view and the back yard is the national forest). .
Maybe it will go lower, who knows but I am happy with what I got and am not going anywhere for maybe 15 or so years.
*
It’s fascinating to watch human psychology. Once people buy they think that prices can’t drop much anymore.
Considering Mello Roos and HOAs, Temecula’s median should be right around $200k.
February 18, 2008 at 1:02 PM #154970Nor-LA-SD-guy
ParticipantNor-La-SD-Guy
6% interest (load amount 160K (40K down)
Payment $959.28 .
My Rate tax is 1.4 (1.4 X 200K = 2800 / 12 = 233.33)
My HOA = $70 a month .
about 50 a month for insurance.
= $ 1312.60 round abouts.That’s cheap rent for a 3000 sqf home.. IMO
But good luck.
February 18, 2008 at 1:02 PM #155248ParticipantNor-La-SD-Guy
6% interest (load amount 160K (40K down)
Payment $959.28 .
My Rate tax is 1.4 (1.4 X 200K = 2800 / 12 = 233.33)
My HOA = $70 a month .
about 50 a month for insurance.
= $ 1312.60 round abouts.That’s cheap rent for a 3000 sqf home.. IMO
But good luck.
February 18, 2008 at 1:02 PM #155257ParticipantNor-La-SD-Guy
6% interest (load amount 160K (40K down)
Payment $959.28 .
My Rate tax is 1.4 (1.4 X 200K = 2800 / 12 = 233.33)
My HOA = $70 a month .
about 50 a month for insurance.
= $ 1312.60 round abouts.That’s cheap rent for a 3000 sqf home.. IMO
But good luck.
February 18, 2008 at 1:02 PM #155272ParticipantNor-La-SD-Guy
6% interest (load amount 160K (40K down)
Payment $959.28 .
My Rate tax is 1.4 (1.4 X 200K = 2800 / 12 = 233.33)
My HOA = $70 a month .
about 50 a month for insurance.
= $ 1312.60 round abouts.That’s cheap rent for a 3000 sqf home.. IMO
But good luck.
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