I really really really want to buy, soon

[SD Realtor]

OC Scam I think yours is actually an example of getting a good deal in a depreciating market. Additionally your motivation for buying the home you now live in falls into one of the more common reasons that people buy. You did it for your family, you did it because you believe (or I shall say I assume you believe) that this home will be a home that you and your family will be leaving in for many yeasrs to come.

125 trying to figure out the depth of the depreciation cycle is quite difficult. A 600k to a 400k drop off is 33% and while that is a large drop off it is not inconceivable. Hard to believe but not impossible. We have already seen 30% drops in some areas here in San Diego County. I cannot say that it will happen in the areas you want to live in but…. well ya never know.

Again, given your salary, your single and as far as I know, you do not have any children I believe that you may be able to position yourself very well by waiting at least a year if not longer. Consequently with enough cash savings you may be well positioned not only to purchase a primary residence but perhaps an investment property as well.

Again, if you feel that you HAVE to buy now then at least drive a hard bargain, shop around…lowball take your time.

SD Realtor

[Ex-SD]

Houses that sold for over $600k have already fallen to the $400k and below in Temecula, Riverside, San Bernadino, Sacramento areas (and some other parts of CA). If you truly believe that it won’t happen to San Diego, go ahead and buy…………….but you’ll be crying in your beer every time you make a house payment and pay your taxes because many of your future neighbors who waited for the bottom to hit will have paid hundreds of thousands less.

Good luck to you whatever you decide to do.

[Ex-SD]

Houses that sold for over $600k have already fallen to the $400k and below in Temecula, Riverside, San Bernadino, Sacramento areas (and some other parts of CA). If you truly believe that it won’t happen to San Diego, go ahead and buy…………….but you’ll be crying in your beer every time you make a house payment and pay your taxes because many of your future neighbors who waited for the bottom to hit will have paid hundreds of thousands less.

Good luck to you whatever you decide to do.

[Ex-SD]

Houses that sold for over $600k have already fallen to the $400k and below in Temecula, Riverside, San Bernadino, Sacramento areas (and some other parts of CA). If you truly believe that it won’t happen to San Diego, go ahead and buy…………….but you’ll be crying in your beer every time you make a house payment and pay your taxes because many of your future neighbors who waited for the bottom to hit will have paid hundreds of thousands less.

Good luck to you whatever you decide to do.

[Ex-SD]

Houses that sold for over $600k have already fallen to the $400k and below in Temecula, Riverside, San Bernadino, Sacramento areas (and some other parts of CA). If you truly believe that it won’t happen to San Diego, go ahead and buy…………….but you’ll be crying in your beer every time you make a house payment and pay your taxes because many of your future neighbors who waited for the bottom to hit will have paid hundreds of thousands less.

Good luck to you whatever you decide to do.

[Ex-SD]

Houses that sold for over $600k have already fallen to the $400k and below in Temecula, Riverside, San Bernadino, Sacramento areas (and some other parts of CA). If you truly believe that it won’t happen to San Diego, go ahead and buy…………….but you’ll be crying in your beer every time you make a house payment and pay your taxes because many of your future neighbors who waited for the bottom to hit will have paid hundreds of thousands less.

Good luck to you whatever you decide to do.

[Coronita]

That's Bs. If you base your decision on trying to buy based on VALUE you will be renting your entire life like many of these others on this board. How many good companies trade for book value, or similar metric? They trade at premiums or other valuation to their intrinsic value for various reasons, the same reason homes in san Diego sell for more than those in Dallas or huntsville, or other locale you all claim to be a better value.

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere. Heck, if prices drop a bit and you are living in a place you like, who cares?

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

 

I would sort or agree with some things RO is saying here. I personally think in some neighborhoods, there will be an intrinsic premium for owning versus renting. That said, if you want to find bargains, it's not happening in CV,RP (yet). There are some homes in the off of Camino Del Sur (part of RP) that are relatively new, about 2000 sqft in the mid $650k. (Next to the new Intuit campus). I've always a been a proponent that you own your primary when you can afford it without going out on an arm and a leg. But I never view primary homes as investments. I would though recommend you spending your time to be picky and choosy.

[Coronita]

That's Bs. If you base your decision on trying to buy based on VALUE you will be renting your entire life like many of these others on this board. How many good companies trade for book value, or similar metric? They trade at premiums or other valuation to their intrinsic value for various reasons, the same reason homes in san Diego sell for more than those in Dallas or huntsville, or other locale you all claim to be a better value.

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere. Heck, if prices drop a bit and you are living in a place you like, who cares?

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

 

I would sort or agree with some things RO is saying here. I personally think in some neighborhoods, there will be an intrinsic premium for owning versus renting. That said, if you want to find bargains, it's not happening in CV,RP (yet). There are some homes in the off of Camino Del Sur (part of RP) that are relatively new, about 2000 sqft in the mid $650k. (Next to the new Intuit campus). I've always a been a proponent that you own your primary when you can afford it without going out on an arm and a leg. But I never view primary homes as investments. I would though recommend you spending your time to be picky and choosy.

[Coronita]

That's Bs. If you base your decision on trying to buy based on VALUE you will be renting your entire life like many of these others on this board. How many good companies trade for book value, or similar metric? They trade at premiums or other valuation to their intrinsic value for various reasons, the same reason homes in san Diego sell for more than those in Dallas or huntsville, or other locale you all claim to be a better value.

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere. Heck, if prices drop a bit and you are living in a place you like, who cares?

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

 

I would sort or agree with some things RO is saying here. I personally think in some neighborhoods, there will be an intrinsic premium for owning versus renting. That said, if you want to find bargains, it's not happening in CV,RP (yet). There are some homes in the off of Camino Del Sur (part of RP) that are relatively new, about 2000 sqft in the mid $650k. (Next to the new Intuit campus). I've always a been a proponent that you own your primary when you can afford it without going out on an arm and a leg. But I never view primary homes as investments. I would though recommend you spending your time to be picky and choosy.

[Coronita]

That's Bs. If you base your decision on trying to buy based on VALUE you will be renting your entire life like many of these others on this board. How many good companies trade for book value, or similar metric? They trade at premiums or other valuation to their intrinsic value for various reasons, the same reason homes in san Diego sell for more than those in Dallas or huntsville, or other locale you all claim to be a better value.

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere. Heck, if prices drop a bit and you are living in a place you like, who cares?

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

 

I would sort or agree with some things RO is saying here. I personally think in some neighborhoods, there will be an intrinsic premium for owning versus renting. That said, if you want to find bargains, it's not happening in CV,RP (yet). There are some homes in the off of Camino Del Sur (part of RP) that are relatively new, about 2000 sqft in the mid $650k. (Next to the new Intuit campus). I've always a been a proponent that you own your primary when you can afford it without going out on an arm and a leg. But I never view primary homes as investments. I would though recommend you spending your time to be picky and choosy.

[Coronita]

That's Bs. If you base your decision on trying to buy based on VALUE you will be renting your entire life like many of these others on this board. How many good companies trade for book value, or similar metric? They trade at premiums or other valuation to their intrinsic value for various reasons, the same reason homes in san Diego sell for more than those in Dallas or huntsville, or other locale you all claim to be a better value.

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere. Heck, if prices drop a bit and you are living in a place you like, who cares?

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

 

I would sort or agree with some things RO is saying here. I personally think in some neighborhoods, there will be an intrinsic premium for owning versus renting. That said, if you want to find bargains, it's not happening in CV,RP (yet). There are some homes in the off of Camino Del Sur (part of RP) that are relatively new, about 2000 sqft in the mid $650k. (Next to the new Intuit campus). I've always a been a proponent that you own your primary when you can afford it without going out on an arm and a leg. But I never view primary homes as investments. I would though recommend you spending your time to be picky and choosy.

[bob2007]

I don’t think it is a terrible time to buy if it is a place you really like.

That said, if you are 29 and single, I would not be in a hurry to buy something. I don’t think prices will drop as dramatically as many here say, but I do feel strongly that they won’t go up. So, if you are single, 29, and chances are prices won’t go up, I would wait.

If you buy now, you want to avoid situations which would lead to selling too early. New job, relationships, etc.

[bob2007]

I don’t think it is a terrible time to buy if it is a place you really like.

That said, if you are 29 and single, I would not be in a hurry to buy something. I don’t think prices will drop as dramatically as many here say, but I do feel strongly that they won’t go up. So, if you are single, 29, and chances are prices won’t go up, I would wait.

If you buy now, you want to avoid situations which would lead to selling too early. New job, relationships, etc.

[bob2007]

I don’t think it is a terrible time to buy if it is a place you really like.

That said, if you are 29 and single, I would not be in a hurry to buy something. I don’t think prices will drop as dramatically as many here say, but I do feel strongly that they won’t go up. So, if you are single, 29, and chances are prices won’t go up, I would wait.

If you buy now, you want to avoid situations which would lead to selling too early. New job, relationships, etc.

[bob2007]

I don’t think it is a terrible time to buy if it is a place you really like.

That said, if you are 29 and single, I would not be in a hurry to buy something. I don’t think prices will drop as dramatically as many here say, but I do feel strongly that they won’t go up. So, if you are single, 29, and chances are prices won’t go up, I would wait.

If you buy now, you want to avoid situations which would lead to selling too early. New job, relationships, etc.

[Author]

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