I can see the whites of their eyes

[Coronita]

[quote=socrattt]TG nothing wrong with a little optimism, but looking at it from the perspective that this whole financial debacle just started, I can’t imagine that now is the time to buy. On a side note what do you have to lose if you are picking up a home for $60-70sqft (If you buy a $200K home, the worst you can do is lose $200K). I went looking up there recently, but this whole financial mess got me scared. [/quote]

Perhaps, but I think for TG’s case

1)it’s a primary home for his family
2) he’s probably not going to stretch an arm and a leg for
3) financially, he’s probably at a stage that he feels he can weather this out pretty well, or at least more so that a good percentage of us
4) life is short

anyway, primary homes are for a lot of us personal decisions. Like i said, TG, good luck man. Do share some pics.

[underdose]

“anyway, primary homes are for a lot of us personal decisions. ”

Absolutely! There still are advantages to ownership besides treating your home as a speculative investment. There is something to be said for autonomy, even if prices might not of bottomed yet. You are owning then for comfort, not for return on investment. If you can still get a fixed rate mortgage, you should be all right as the payments shrink in years to inflation. Plus, if inflation is severe enough, renting will have its risks as well as owning. Choose your poison, declining equity if home prices keep dropping but fixed outflows, or no losses from asset depreciation but huge losses of purchase power to rising rent. And either way you’re going to face a higher tax burden as we all pay for the bailout. Like fat_lazy_union said, life it short. If a home will help you enjoy what’s left of it and you have the means, why the hell not.

[underdose]

“anyway, primary homes are for a lot of us personal decisions. ”

Absolutely! There still are advantages to ownership besides treating your home as a speculative investment. There is something to be said for autonomy, even if prices might not of bottomed yet. You are owning then for comfort, not for return on investment. If you can still get a fixed rate mortgage, you should be all right as the payments shrink in years to inflation. Plus, if inflation is severe enough, renting will have its risks as well as owning. Choose your poison, declining equity if home prices keep dropping but fixed outflows, or no losses from asset depreciation but huge losses of purchase power to rising rent. And either way you’re going to face a higher tax burden as we all pay for the bailout. Like fat_lazy_union said, life it short. If a home will help you enjoy what’s left of it and you have the means, why the hell not.

[underdose]

“anyway, primary homes are for a lot of us personal decisions. ”

Absolutely! There still are advantages to ownership besides treating your home as a speculative investment. There is something to be said for autonomy, even if prices might not of bottomed yet. You are owning then for comfort, not for return on investment. If you can still get a fixed rate mortgage, you should be all right as the payments shrink in years to inflation. Plus, if inflation is severe enough, renting will have its risks as well as owning. Choose your poison, declining equity if home prices keep dropping but fixed outflows, or no losses from asset depreciation but huge losses of purchase power to rising rent. And either way you’re going to face a higher tax burden as we all pay for the bailout. Like fat_lazy_union said, life it short. If a home will help you enjoy what’s left of it and you have the means, why the hell not.

[underdose]

“anyway, primary homes are for a lot of us personal decisions. ”

Absolutely! There still are advantages to ownership besides treating your home as a speculative investment. There is something to be said for autonomy, even if prices might not of bottomed yet. You are owning then for comfort, not for return on investment. If you can still get a fixed rate mortgage, you should be all right as the payments shrink in years to inflation. Plus, if inflation is severe enough, renting will have its risks as well as owning. Choose your poison, declining equity if home prices keep dropping but fixed outflows, or no losses from asset depreciation but huge losses of purchase power to rising rent. And either way you’re going to face a higher tax burden as we all pay for the bailout. Like fat_lazy_union said, life it short. If a home will help you enjoy what’s left of it and you have the means, why the hell not.

[underdose]

“anyway, primary homes are for a lot of us personal decisions. ”

Absolutely! There still are advantages to ownership besides treating your home as a speculative investment. There is something to be said for autonomy, even if prices might not of bottomed yet. You are owning then for comfort, not for return on investment. If you can still get a fixed rate mortgage, you should be all right as the payments shrink in years to inflation. Plus, if inflation is severe enough, renting will have its risks as well as owning. Choose your poison, declining equity if home prices keep dropping but fixed outflows, or no losses from asset depreciation but huge losses of purchase power to rising rent. And either way you’re going to face a higher tax burden as we all pay for the bailout. Like fat_lazy_union said, life it short. If a home will help you enjoy what’s left of it and you have the means, why the hell not.

[temeculaguy]

FLU, I like the LEH reference. The only difference is that you weren’t already renting a banking stock and you can ride it out in your banking stock.

My point is that the perfect time to lowball is when nobody else in their right mind would. I keep saying lowball, truth is that 10% off ask plus 3% closing costs isn’t really that aggressive of a lowball, however in this case the ask was fire sale low and two months ago it would have gotten a dozen offers in a few days, turns out with all the distractions, I’m the first to look at it.

If they say no or or I am outbid, so be it. But if I see the inside (have only looked through the ground floor windows thus far), like it, and buy it, it is very far from a stretch, mortgage is “rentlike” and I can keep living like a rockstar with 70% of my income earmarked as “disposable.” Please, don’t worry about ole TG, I did the heavy lifting and rode this thing pretty far, if in retrospect I got off a little early, it wont affect my ability to cover my bar tab.

My only worry is that my patience may have landed me in yard work hell, it is way too big of a piece of property and is fully landscaped. It’s borderline “riding mower” big. Patience may end up biting me in the arse, last year I was almost content plopping down 400k for a micro lot that could barely accomodate a spa, now I’ll be sentenced to a sizable fraction of an acre, egads!!!

[temeculaguy]

FLU, I like the LEH reference. The only difference is that you weren’t already renting a banking stock and you can ride it out in your banking stock.

My point is that the perfect time to lowball is when nobody else in their right mind would. I keep saying lowball, truth is that 10% off ask plus 3% closing costs isn’t really that aggressive of a lowball, however in this case the ask was fire sale low and two months ago it would have gotten a dozen offers in a few days, turns out with all the distractions, I’m the first to look at it.

If they say no or or I am outbid, so be it. But if I see the inside (have only looked through the ground floor windows thus far), like it, and buy it, it is very far from a stretch, mortgage is “rentlike” and I can keep living like a rockstar with 70% of my income earmarked as “disposable.” Please, don’t worry about ole TG, I did the heavy lifting and rode this thing pretty far, if in retrospect I got off a little early, it wont affect my ability to cover my bar tab.

My only worry is that my patience may have landed me in yard work hell, it is way too big of a piece of property and is fully landscaped. It’s borderline “riding mower” big. Patience may end up biting me in the arse, last year I was almost content plopping down 400k for a micro lot that could barely accomodate a spa, now I’ll be sentenced to a sizable fraction of an acre, egads!!!

[temeculaguy]

FLU, I like the LEH reference. The only difference is that you weren’t already renting a banking stock and you can ride it out in your banking stock.

My point is that the perfect time to lowball is when nobody else in their right mind would. I keep saying lowball, truth is that 10% off ask plus 3% closing costs isn’t really that aggressive of a lowball, however in this case the ask was fire sale low and two months ago it would have gotten a dozen offers in a few days, turns out with all the distractions, I’m the first to look at it.

If they say no or or I am outbid, so be it. But if I see the inside (have only looked through the ground floor windows thus far), like it, and buy it, it is very far from a stretch, mortgage is “rentlike” and I can keep living like a rockstar with 70% of my income earmarked as “disposable.” Please, don’t worry about ole TG, I did the heavy lifting and rode this thing pretty far, if in retrospect I got off a little early, it wont affect my ability to cover my bar tab.

My only worry is that my patience may have landed me in yard work hell, it is way too big of a piece of property and is fully landscaped. It’s borderline “riding mower” big. Patience may end up biting me in the arse, last year I was almost content plopping down 400k for a micro lot that could barely accomodate a spa, now I’ll be sentenced to a sizable fraction of an acre, egads!!!

[temeculaguy]

FLU, I like the LEH reference. The only difference is that you weren’t already renting a banking stock and you can ride it out in your banking stock.

My point is that the perfect time to lowball is when nobody else in their right mind would. I keep saying lowball, truth is that 10% off ask plus 3% closing costs isn’t really that aggressive of a lowball, however in this case the ask was fire sale low and two months ago it would have gotten a dozen offers in a few days, turns out with all the distractions, I’m the first to look at it.

If they say no or or I am outbid, so be it. But if I see the inside (have only looked through the ground floor windows thus far), like it, and buy it, it is very far from a stretch, mortgage is “rentlike” and I can keep living like a rockstar with 70% of my income earmarked as “disposable.” Please, don’t worry about ole TG, I did the heavy lifting and rode this thing pretty far, if in retrospect I got off a little early, it wont affect my ability to cover my bar tab.

My only worry is that my patience may have landed me in yard work hell, it is way too big of a piece of property and is fully landscaped. It’s borderline “riding mower” big. Patience may end up biting me in the arse, last year I was almost content plopping down 400k for a micro lot that could barely accomodate a spa, now I’ll be sentenced to a sizable fraction of an acre, egads!!!

[temeculaguy]

FLU, I like the LEH reference. The only difference is that you weren’t already renting a banking stock and you can ride it out in your banking stock.

My point is that the perfect time to lowball is when nobody else in their right mind would. I keep saying lowball, truth is that 10% off ask plus 3% closing costs isn’t really that aggressive of a lowball, however in this case the ask was fire sale low and two months ago it would have gotten a dozen offers in a few days, turns out with all the distractions, I’m the first to look at it.

If they say no or or I am outbid, so be it. But if I see the inside (have only looked through the ground floor windows thus far), like it, and buy it, it is very far from a stretch, mortgage is “rentlike” and I can keep living like a rockstar with 70% of my income earmarked as “disposable.” Please, don’t worry about ole TG, I did the heavy lifting and rode this thing pretty far, if in retrospect I got off a little early, it wont affect my ability to cover my bar tab.

My only worry is that my patience may have landed me in yard work hell, it is way too big of a piece of property and is fully landscaped. It’s borderline “riding mower” big. Patience may end up biting me in the arse, last year I was almost content plopping down 400k for a micro lot that could barely accomodate a spa, now I’ll be sentenced to a sizable fraction of an acre, egads!!!

[paramount]

Standard Pacific has dropped another 20k or so in the last week in Wolf Creek.

Maybe now is the time – I think it might be easier to get financing through a builder vs. regular lender.

[paramount]

Standard Pacific has dropped another 20k or so in the last week in Wolf Creek.

Maybe now is the time – I think it might be easier to get financing through a builder vs. regular lender.

[paramount]

Standard Pacific has dropped another 20k or so in the last week in Wolf Creek.

Maybe now is the time – I think it might be easier to get financing through a builder vs. regular lender.

[paramount]

Standard Pacific has dropped another 20k or so in the last week in Wolf Creek.

Maybe now is the time – I think it might be easier to get financing through a builder vs. regular lender.

[Author]

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