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October 12, 2013 at 10:28 AM #766790October 12, 2013 at 10:50 AM #766791CoronitaParticipant
well I just did a test listing for a
1/1 MM condo at a reasonable price.4 people as of this morning, interested and ready to move in immediately… all qualcomm senior engineers… Just saying….Things still look pretty healthy to me….
October 12, 2013 at 11:01 AM #766792JazzmanParticipantDear Eve39
If you are still with us and haven’t been driven to another planet by now, you will have an idea of …well, how things are in San Diego, and probably in many other places. Not knowing where you are from, perhaps it’s the same there too.
Firstly, and belatedly welcome to San Diego (from San Diegan’s (I don’t live there)) and au revoir if you have already left (that’s OK, I left too). This is my assumption since you haven’t responded.
Whatever (Californian for I wasn’t around in the 60s but my Dad was), I hope you are well (immunized) and don’t catch the contagion. If you do, you may find it is not covered by Obamacare, but the Federal Reserve has limited space on its rehabilitation program, so you need to hurry. Actually you don’t. Cash may have a better home (no pun intended) if you are working.
Yours sincerely,
Jazzman
(Also not from around here)October 12, 2013 at 11:23 AM #766793bearishgurlParticipant[quote=spdrun]I’m not disagreeing with you on a national level, but in my experience, SFR prices in SD are sufficiently high as to render the lack of condo fees moot.
i.e., you can get a higher rent per $100k with condo fees subtracted on a condo than the rent per $100k on a house. If it’s a cash buy-and-hold, the lesser ability to get a mortgage on a condo vs an SFR is moot.[/quote]
spdrun, did you actually see the asking prices on the listings I provided? A couple of the listings +/- $350K were 3/4 bdrm good-sized homes! The rent on these homes (if first cosmetically repaired/fixed up, if needed) would be OVER $2K month.
Also take a look at the $250K – $350K listings I provided and tell us how much monthly rent you think they would fetch. (Of course, the 2? SS’s are priced as “teasers” and will likely fetch higher offers.)
I disagree that SFRs in SD County are not priced competitively enough to be viable investment properties because they undoubtedly ARE (in a few micro-markets).
October 12, 2013 at 11:25 AM #766794bearishgurlParticipant[quote=flu]well I just did a test listing for a
1/1 MM condo at a reasonable price.4 people as of this morning, interested and ready to move in immediately… all qualcomm senior engineers… Just saying….Things still look pretty healthy to me….[/quote]
flu, what is currently a “reasonable price” to you for the purchase of a typical 1/1 in MM?
And, are there any current listings there which you think will sell for that price??
October 12, 2013 at 11:46 AM #766795bearishgurlParticipant[quote=Jazzman]Dear Eve39
[snip]
Firstly, and belatedly welcome to San Diego (from San Diegan’s (I don’t live there)) and au revoir if you have already left (that’s OK, I left too). This is my assumption since you haven’t responded.
[snip]
Yours sincerely,
Jazzman
(Also not from around here)[/quote]
@Jazzman, of course Eve could help us out here if she checks back in but I think you might possibly have the wrong saluation. Try “Vis es: snart.”In my experience, most of the European residents residing in Pt Loma are Swedes 🙂
October 12, 2013 at 6:34 PM #766807JazzmanParticipant[quote=bearishgurl][quote=Jazzman]Dear Eve39
[snip]
Firstly, and belatedly welcome to San Diego (from San Diegan’s (I don’t live there)) and au revoir if you have already left (that’s OK, I left too). This is my assumption since you haven’t responded.
[snip]
Yours sincerely,
Jazzman
(Also not from around here)[/quote]
@Jazzman, of course Eve could help us out here if she checks back in but I think you might possibly have the wrong saluation. Try “Vis es: snart.”In my experience, most of the European residents residing in Pt Loma are Swedes :)[/quote]
An American, a Finn and a Swede are in the sauna together. Suddenly there is a “beep beep” sound, and the American starts to look at the palm of his hand.
“What are you doing?” asks the Finn.
The American replies: “This is the latest Apple technology. I’ve got my pager embedded in the palm of my hand, so I don’t have to carry it around any more.”
Then the familiar old Nokia ring tone is heard, and the Finn starts looking at the palm of his hand.
“What are you doing?” ask the other guys.
The Finn replies: “This is the latest Nokia technology. I’ve got my mobile phone embedded in the palm of my hand, so I don’t have to carry it around any more.”
The Swede thinks to himself that he’d better not be outdone by these guys, so he leaves the sauna. In a couple of minutes he returns, and there is toilet paper hanging out of his bum!
“What the hell is that??” shout the other guys in unison.
“I’m getting a fax.” says the Swede.
October 12, 2013 at 6:39 PM #766808CDMA ENGParticipant[quote=Jazzman][quote=bearishgurl][quote=Jazzman]Dear Eve39
[snip]
Firstly, and belatedly welcome to San Diego (from San Diegan’s (I don’t live there)) and au revoir if you have already left (that’s OK, I left too). This is my assumption since you haven’t responded.
[snip]
Yours sincerely,
Jazzman
(Also not from around here)[/quote]
@Jazzman, of course Eve could help us out here if she checks back in but I think you might possibly have the wrong saluation. Try “Vis es: snart.”In my experience, most of the European residents residing in Pt Loma are Swedes :)[/quote]
An American, a Finn and a Swede are in the sauna together. Suddenly there is a “beep beep” sound, and the American starts to look at the palm of his hand.
“What are you doing?” asks the Finn.
The American replies: “This is the latest Apple technology. I’ve got my pager embedded in the palm of my hand, so I don’t have to carry it around any more.”
Then the familiar old Nokia ring tone is heard, and the Finn starts looking at the palm of his hand.
“What are you doing?” ask the other guys.
The Finn replies: “This is the latest Nokia technology. I’ve got my mobile phone embedded in the palm of my hand, so I don’t have to carry it around any more.”
The Swede thinks to himself that he’d better not be outdone by these guys, so he leaves the sauna. In a couple of minutes he returns, and there is toilet paper hanging out of his bum!
“What the hell is that??” shout the other guys in unison.
“I’m getting a fax.” says the Swede.[/quote]
+1
Best telecom joke yet…
CE
October 15, 2013 at 1:38 PM #766924GunslingerGuestJust found this blog. Looking for advice on buying rentals in San Diego. Not afraid to get my hands dirty as I recently retired from the LAPD and need something to fill my time outside of golf, sailing and gun shows. Where are them house that gal was talking about?
October 16, 2013 at 12:34 PM #766955birmingplumbParticipanti do not see losing money every month as an investment. My daughter pays 1500 for a 2 br Mira Mesa condo with garage. 100o sf. I looked at buying it and with 10 percent down the payment is 1700 by time dues and taxes are added. I do not get why you guys are wanting to own always decaying assets that lose money. How can they ever raise in value from overpriced market? Metro Detroit still has 15% net returns.
October 16, 2013 at 1:01 PM #766956GunslingerGuestI agree and that is why I prefer houses. I want to own the dirt.
October 16, 2013 at 2:58 PM #766959birmingplumbParticipantI am holding off buying until rents equal the mortgage payment. Dr Housing Bubble swears prices must adjust to rents. But then again it is San Diego so add the wild card.Gunslinger is correct, 2 years ago. 400k would buy 8 50k rentals in Holly Michigan with city water /sewer. Rent 800 plus each. Taxes at 200 mo . 600 x 8 4800 minus repairs . way over 10%.
30 miles north Detroit within commuting. I passed on these due to my job @ 15k gross month equals 25 rentals income and no hassel.But its there for you/ but 400k to lose money ?October 16, 2013 at 3:31 PM #766961anParticipantBe careful what you ask for. 5-6 years ago, your daughter’s condo was renting for ~$1500. So, rent for 2/2 has not gone up for over 1/2 a decade. However, 1/1 was going for ~$1050-1100 at the time. Today, they’re $1200-1300. So, it’s not out of the realm of possibility that 2/2 rent will start to rise to keep pace w/ 1/1 rents. Then there are SFR rent. 5-6 years ago, 3/2 and 4/2 were renting for $1800-1900. Today, they’re renting for $2200-2300. Larger SFR are still around $2400-2600 like they were 5-6 years ago. So, if anything, I think those 2 sub markets will rise rather than price falling.
October 16, 2013 at 4:12 PM #766962CoronitaParticipant[quote=birmingplumb]I am holding off buying until rents equal the mortgage payment. Dr Housing Bubble swears prices must adjust to rents. But then again it is San Diego so add the wild card.Gunslinger is correct, 2 years ago. 400k would buy 8 50k rentals in Holly Michigan with city water /sewer. Rent 800 plus each. Taxes at 200 mo . 600 x 8 4800 minus repairs . way over 10%.
30 miles north Detroit within commuting. I passed on these due to my job @ 15k gross month equals 25 rentals income and no hassel.But its there for you/ but 400k to lose money ?[/quote]Unfortunately, you’re daughter is renting in an area where rental is in high demand due to the proximity to Sorrento Valley tech center. Short of something catastrophic to said the major tech companies there (*cough* qualcomm *cough*), it’s unlikely this will subside. There is a huge luxury condo complex being built at the end of Mira Mesa Blvd/I-15. I am pretty sure that whomever owns that complex has done extensive research into this submarket, probably with more data than any of us combined. And folks that scoffed at the new Pardee SFH and attached communities off of Flanders have been pretty much been proven wrong… Most phases are sold out….
Days like today, doesn’t help out either…
http://finance.yahoo.com/q?s=^ixic
http://finance.yahoo.com/q?s=qcom&ql=1October 16, 2013 at 4:12 PM #766963anParticipant[quote=flu]Unfortunately, you’re daughter is renting in an area where rental is in high demand due to the proximity to Sorrento Valley tech center. Short of something catastrophic to said the major tech companies there (*cough* qualcomm *cough*), it’s unlikely this will subside. There is a huge luxury condo complex being built at the end of Mira Mesa Blvd/I-15. I am pretty sure that whomever owns that complex has done extensive research into this submarket, probably with more data than any of us combined. And folks that scoffed at the new Pardee SFH and attached communities off of Flanders have been pretty much been proven wrong… Most phases are sold out….[/quote]Correction, Camino Santa Fe & Calle Cristobal/Sorrento Valley Blvd., not Flanders. There’s no new houses going up on Flanders AFAIK.
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