irrational fear?; spouse wants house…

[scaredyclassic]

i hate “probably be ok” after 10-20 years! that woudl suck. 10-20 years should be almosta sure thing…but it isn’t. that’s what makes me think it has to fall to where 10-20 years is virtually a sure thing. if wages fall, unemployment spikes, why should rents stay the same? they should be falling, esp. if “investors” are snatching up rental properties and increasing demand. “i’s really difficult to predict things, especially the future”. The future itself is so hazy to me. I cannot have any sense of what it might look like economically, socially…nothing i’m reading inspires me to buy. somehow I have the feeling that this inert house is going to suck the money, energy and life out of me. I guess what i wan treally is the bottom of the market, even though i won’t admit it. i want a screaming deal. I don’t think that time is now. I think these are acceptable deals.

[peterb]

The RE market moves so slowly that no one should worry about “missing the bottom”. That’s stupid. And so is leverging yourself into the biggest debt you’ll probably ever have on a depreciating asset!
Think people! That’s what got us into this mess. Really stupid abuse and miss use of debt. Anyone who uses big leverage to go long on a depreciating asset, deserves what they get. It’s the price of education, I guess.

[peterb]

The RE market moves so slowly that no one should worry about “missing the bottom”. That’s stupid. And so is leverging yourself into the biggest debt you’ll probably ever have on a depreciating asset!
Think people! That’s what got us into this mess. Really stupid abuse and miss use of debt. Anyone who uses big leverage to go long on a depreciating asset, deserves what they get. It’s the price of education, I guess.

[peterb]

The RE market moves so slowly that no one should worry about “missing the bottom”. That’s stupid. And so is leverging yourself into the biggest debt you’ll probably ever have on a depreciating asset!
Think people! That’s what got us into this mess. Really stupid abuse and miss use of debt. Anyone who uses big leverage to go long on a depreciating asset, deserves what they get. It’s the price of education, I guess.

[peterb]

The RE market moves so slowly that no one should worry about “missing the bottom”. That’s stupid. And so is leverging yourself into the biggest debt you’ll probably ever have on a depreciating asset!
Think people! That’s what got us into this mess. Really stupid abuse and miss use of debt. Anyone who uses big leverage to go long on a depreciating asset, deserves what they get. It’s the price of education, I guess.

[peterb]

The RE market moves so slowly that no one should worry about “missing the bottom”. That’s stupid. And so is leverging yourself into the biggest debt you’ll probably ever have on a depreciating asset!
Think people! That’s what got us into this mess. Really stupid abuse and miss use of debt. Anyone who uses big leverage to go long on a depreciating asset, deserves what they get. It’s the price of education, I guess.

[carlsbadworker]

[quote=scaredycat]i want a screaming deal. I don’t think that time is now. I think these are acceptable deals. [/quote]
I think that’s the gist of it. I am in the same local market and I do believe that you can find acceptable deals right now but not “a screaming deal”. That said, I just put an offer on a property over the weekend, because apparently everyone is watching World Series and nobody is out looking. Still the seller (flipper, not bank) has not agreed to my 10% off listing price offer and still stands firm on his original price. It is a very nice house so it will be a good deal if I can get it at my price (roughly $85/sqft in Temecula), but it is far from what I would call a screaming deal.

[carlsbadworker]

[quote=scaredycat]i want a screaming deal. I don’t think that time is now. I think these are acceptable deals. [/quote]
I think that’s the gist of it. I am in the same local market and I do believe that you can find acceptable deals right now but not “a screaming deal”. That said, I just put an offer on a property over the weekend, because apparently everyone is watching World Series and nobody is out looking. Still the seller (flipper, not bank) has not agreed to my 10% off listing price offer and still stands firm on his original price. It is a very nice house so it will be a good deal if I can get it at my price (roughly $85/sqft in Temecula), but it is far from what I would call a screaming deal.

[carlsbadworker]

[quote=scaredycat]i want a screaming deal. I don’t think that time is now. I think these are acceptable deals. [/quote]
I think that’s the gist of it. I am in the same local market and I do believe that you can find acceptable deals right now but not “a screaming deal”. That said, I just put an offer on a property over the weekend, because apparently everyone is watching World Series and nobody is out looking. Still the seller (flipper, not bank) has not agreed to my 10% off listing price offer and still stands firm on his original price. It is a very nice house so it will be a good deal if I can get it at my price (roughly $85/sqft in Temecula), but it is far from what I would call a screaming deal.

[carlsbadworker]

[quote=scaredycat]i want a screaming deal. I don’t think that time is now. I think these are acceptable deals. [/quote]
I think that’s the gist of it. I am in the same local market and I do believe that you can find acceptable deals right now but not “a screaming deal”. That said, I just put an offer on a property over the weekend, because apparently everyone is watching World Series and nobody is out looking. Still the seller (flipper, not bank) has not agreed to my 10% off listing price offer and still stands firm on his original price. It is a very nice house so it will be a good deal if I can get it at my price (roughly $85/sqft in Temecula), but it is far from what I would call a screaming deal.

[carlsbadworker]

[quote=scaredycat]i want a screaming deal. I don’t think that time is now. I think these are acceptable deals. [/quote]
I think that’s the gist of it. I am in the same local market and I do believe that you can find acceptable deals right now but not “a screaming deal”. That said, I just put an offer on a property over the weekend, because apparently everyone is watching World Series and nobody is out looking. Still the seller (flipper, not bank) has not agreed to my 10% off listing price offer and still stands firm on his original price. It is a very nice house so it will be a good deal if I can get it at my price (roughly $85/sqft in Temecula), but it is far from what I would call a screaming deal.

[temeculaguy]

peter, koolaid comes in two flavors, bear and bull, don’t drink either. Just plattitudes and cliche’s, still no examples or data. I’ve followed my micro market as much as anyone on the boards or probably the town and I say it is within striking distance right now with 09 being ideal, nobody has made a cogent argument against that, other than generic talking points.

here’s another example

http://www.redfin.com/CA/Temecula/44656-LA-PAZ-92592/home/6189254

$82 a square for rental property, 89k for a rental that brings over 1k a month, I’ll concede these are the scuzziest units around but they rent, seen them between 1100 and 1300.

Not that you can get 0 down on rental property but purely for mathematical calculations, 90k at 6.5, 30yr fixed is $586 mo. hoa is $275 taxes are about 1500 yr, as they were 3k based on a much higher purchase price, this place peaked at 270k in early 2006 and was 82k in 1992, out the door today, 1k a month total carry with zero down calculated and rents for that plus a little extra. So if I am finding rent nuetral or rent positive properties i have a hard time accepting the other flavor of koolaid and phrases like “prices are still going down, it’s a depreciating asset.” You can’t find a rent positve property using zero down calculations in carmel valley then those phrases apply to carmel valley, but it doesn’t mean that they apply everywhere.

[temeculaguy]

peter, koolaid comes in two flavors, bear and bull, don’t drink either. Just plattitudes and cliche’s, still no examples or data. I’ve followed my micro market as much as anyone on the boards or probably the town and I say it is within striking distance right now with 09 being ideal, nobody has made a cogent argument against that, other than generic talking points.

here’s another example

http://www.redfin.com/CA/Temecula/44656-LA-PAZ-92592/home/6189254

$82 a square for rental property, 89k for a rental that brings over 1k a month, I’ll concede these are the scuzziest units around but they rent, seen them between 1100 and 1300.

Not that you can get 0 down on rental property but purely for mathematical calculations, 90k at 6.5, 30yr fixed is $586 mo. hoa is $275 taxes are about 1500 yr, as they were 3k based on a much higher purchase price, this place peaked at 270k in early 2006 and was 82k in 1992, out the door today, 1k a month total carry with zero down calculated and rents for that plus a little extra. So if I am finding rent nuetral or rent positive properties i have a hard time accepting the other flavor of koolaid and phrases like “prices are still going down, it’s a depreciating asset.” You can’t find a rent positve property using zero down calculations in carmel valley then those phrases apply to carmel valley, but it doesn’t mean that they apply everywhere.

[temeculaguy]

peter, koolaid comes in two flavors, bear and bull, don’t drink either. Just plattitudes and cliche’s, still no examples or data. I’ve followed my micro market as much as anyone on the boards or probably the town and I say it is within striking distance right now with 09 being ideal, nobody has made a cogent argument against that, other than generic talking points.

here’s another example

http://www.redfin.com/CA/Temecula/44656-LA-PAZ-92592/home/6189254

$82 a square for rental property, 89k for a rental that brings over 1k a month, I’ll concede these are the scuzziest units around but they rent, seen them between 1100 and 1300.

Not that you can get 0 down on rental property but purely for mathematical calculations, 90k at 6.5, 30yr fixed is $586 mo. hoa is $275 taxes are about 1500 yr, as they were 3k based on a much higher purchase price, this place peaked at 270k in early 2006 and was 82k in 1992, out the door today, 1k a month total carry with zero down calculated and rents for that plus a little extra. So if I am finding rent nuetral or rent positive properties i have a hard time accepting the other flavor of koolaid and phrases like “prices are still going down, it’s a depreciating asset.” You can’t find a rent positve property using zero down calculations in carmel valley then those phrases apply to carmel valley, but it doesn’t mean that they apply everywhere.

[temeculaguy]

peter, koolaid comes in two flavors, bear and bull, don’t drink either. Just plattitudes and cliche’s, still no examples or data. I’ve followed my micro market as much as anyone on the boards or probably the town and I say it is within striking distance right now with 09 being ideal, nobody has made a cogent argument against that, other than generic talking points.

here’s another example

http://www.redfin.com/CA/Temecula/44656-LA-PAZ-92592/home/6189254

$82 a square for rental property, 89k for a rental that brings over 1k a month, I’ll concede these are the scuzziest units around but they rent, seen them between 1100 and 1300.

Not that you can get 0 down on rental property but purely for mathematical calculations, 90k at 6.5, 30yr fixed is $586 mo. hoa is $275 taxes are about 1500 yr, as they were 3k based on a much higher purchase price, this place peaked at 270k in early 2006 and was 82k in 1992, out the door today, 1k a month total carry with zero down calculated and rents for that plus a little extra. So if I am finding rent nuetral or rent positive properties i have a hard time accepting the other flavor of koolaid and phrases like “prices are still going down, it’s a depreciating asset.” You can’t find a rent positve property using zero down calculations in carmel valley then those phrases apply to carmel valley, but it doesn’t mean that they apply everywhere.

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