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  • January 23, 2009 at 1:02 AM #14887
    Oxford
    Participant

    Hi, first time poster. 🙂

    My divorce was final in mid October 2008 and now I have to sell my home in La Costa Valley to fund the equalization payment.

    Comps say I can get around $900K and after the dust settles (pay wife, pay brokers, pay mortgage) I will net about $350K. I qualify for a $275K 30-year fixed at around 5% (my W2s don’t reflect my true self employed income but that’s the way it is..sigh). So I can afford a house in the $600k range.

    I really like San Elijo Hills but you guys have been roasting SEH for a few years and recently with tales of mello roos horrors, waves of traffic heading to 78, fire traps, and MORE declining home values. But… those views and seclusion are just so sweet. And the deals are inviting.

    I work from home and my kids are gone so schools and commutes are not an issue.

    SO… I am opening up my situation to the PP brain trust. What should I do? Rent and wait for pricing to drop more? Buy now? Where?

    I really would like a nice ocean view and seclusion and but not too far out in the sticks. North county coastal or slightly inland is still my favorite area.

    Would I be insane to buy in SEH now? I plan to live in my next house for 10 years plus.

    Thanks for your comments. Awesome forum you folks have here with tons of smart folks.

    OX

    January 23, 2009 at 8:26 AM #333886
    barnaby33
    Participant

    Maybe a context shift is in order. If you are divorced and kids are out of the house, buying is no longer such a hot idea. Most people get used to what they have and so naturally gravitate towards that. On the other hand, you sound like an ideal candidate for renting a nice condo and waiting.

    A lot of us, myself included roast SEH for a variety of reasons, most of which are coming true. I also have a good friend who really likes living there, so it takes all types.

    If you are posting to this forum in the format you are, it sounds like you are open to suggestion, so my first as such is figure out whats really important to you. Since you are getting out of a marriage, do you really need or want to jump back into another long term commitment (house buying)?

    Josh

    January 23, 2009 at 8:26 AM #334218
    barnaby33
    Participant

    Maybe a context shift is in order. If you are divorced and kids are out of the house, buying is no longer such a hot idea. Most people get used to what they have and so naturally gravitate towards that. On the other hand, you sound like an ideal candidate for renting a nice condo and waiting.

    A lot of us, myself included roast SEH for a variety of reasons, most of which are coming true. I also have a good friend who really likes living there, so it takes all types.

    If you are posting to this forum in the format you are, it sounds like you are open to suggestion, so my first as such is figure out whats really important to you. Since you are getting out of a marriage, do you really need or want to jump back into another long term commitment (house buying)?

    Josh

    January 23, 2009 at 8:26 AM #334302
    barnaby33
    Participant

    Maybe a context shift is in order. If you are divorced and kids are out of the house, buying is no longer such a hot idea. Most people get used to what they have and so naturally gravitate towards that. On the other hand, you sound like an ideal candidate for renting a nice condo and waiting.

    A lot of us, myself included roast SEH for a variety of reasons, most of which are coming true. I also have a good friend who really likes living there, so it takes all types.

    If you are posting to this forum in the format you are, it sounds like you are open to suggestion, so my first as such is figure out whats really important to you. Since you are getting out of a marriage, do you really need or want to jump back into another long term commitment (house buying)?

    Josh

    January 23, 2009 at 8:26 AM #334329
    barnaby33
    Participant

    Maybe a context shift is in order. If you are divorced and kids are out of the house, buying is no longer such a hot idea. Most people get used to what they have and so naturally gravitate towards that. On the other hand, you sound like an ideal candidate for renting a nice condo and waiting.

    A lot of us, myself included roast SEH for a variety of reasons, most of which are coming true. I also have a good friend who really likes living there, so it takes all types.

    If you are posting to this forum in the format you are, it sounds like you are open to suggestion, so my first as such is figure out whats really important to you. Since you are getting out of a marriage, do you really need or want to jump back into another long term commitment (house buying)?

    Josh

    January 23, 2009 at 8:26 AM #334415
    barnaby33
    Participant

    Maybe a context shift is in order. If you are divorced and kids are out of the house, buying is no longer such a hot idea. Most people get used to what they have and so naturally gravitate towards that. On the other hand, you sound like an ideal candidate for renting a nice condo and waiting.

    A lot of us, myself included roast SEH for a variety of reasons, most of which are coming true. I also have a good friend who really likes living there, so it takes all types.

    If you are posting to this forum in the format you are, it sounds like you are open to suggestion, so my first as such is figure out whats really important to you. Since you are getting out of a marriage, do you really need or want to jump back into another long term commitment (house buying)?

    Josh

    January 23, 2009 at 9:03 AM #334238
    sdduuuude
    Participant

    Coming off a divorce, I’d guess that your needs now won’t reflect your needs in two years. This is a time of change for you and will likely continue to be for a while. Flexibility is key. Don’t give away your flexibility. The cost of doing so is too high.

    We should make posters start posts like this with “HI, my name is Oxford and I’m a Iwannabuyahouse-aholic”

    Really. There’s alot of them out there and they need our support.

    January 23, 2009 at 9:03 AM #334322
    sdduuuude
    Participant

    Coming off a divorce, I’d guess that your needs now won’t reflect your needs in two years. This is a time of change for you and will likely continue to be for a while. Flexibility is key. Don’t give away your flexibility. The cost of doing so is too high.

    We should make posters start posts like this with “HI, my name is Oxford and I’m a Iwannabuyahouse-aholic”

    Really. There’s alot of them out there and they need our support.

    January 23, 2009 at 9:03 AM #334349
    sdduuuude
    Participant

    Coming off a divorce, I’d guess that your needs now won’t reflect your needs in two years. This is a time of change for you and will likely continue to be for a while. Flexibility is key. Don’t give away your flexibility. The cost of doing so is too high.

    We should make posters start posts like this with “HI, my name is Oxford and I’m a Iwannabuyahouse-aholic”

    Really. There’s alot of them out there and they need our support.

    January 23, 2009 at 9:03 AM #334435
    sdduuuude
    Participant

    Coming off a divorce, I’d guess that your needs now won’t reflect your needs in two years. This is a time of change for you and will likely continue to be for a while. Flexibility is key. Don’t give away your flexibility. The cost of doing so is too high.

    We should make posters start posts like this with “HI, my name is Oxford and I’m a Iwannabuyahouse-aholic”

    Really. There’s alot of them out there and they need our support.

    January 23, 2009 at 9:03 AM #333906
    sdduuuude
    Participant

    Coming off a divorce, I’d guess that your needs now won’t reflect your needs in two years. This is a time of change for you and will likely continue to be for a while. Flexibility is key. Don’t give away your flexibility. The cost of doing so is too high.

    We should make posters start posts like this with “HI, my name is Oxford and I’m a Iwannabuyahouse-aholic”

    Really. There’s alot of them out there and they need our support.

    January 23, 2009 at 9:11 AM #334354
    SD Realtor
    Participant

    Sorry to hear about your divorce. Been there and done that about 15 years ago. Understand about having to sell your home to divide up funds. However, I would advise that you are coming into a very transitionary period of your life. Alot of things will be different although the change will not happen all at once. There are alot of strong reasons why patience would be prudent at this time with respect to purchasing a home. I could not advise strongly enough to find a nice place to rent while you adjust to your changing life. There are alot of things that can and will happen over the next few years BUT one of them will not be a run away real estate market to the high side. You kind of see what I am saying? The risk of missing out on appreciation is very low by sitting, while the risk of depreciation if you do make a purchase is very high. The fact that you will be having alot of transition in your life is another factor that should not be ignored. Conversely it should be a priority.

    January 23, 2009 at 9:11 AM #334327
    SD Realtor
    Participant

    Sorry to hear about your divorce. Been there and done that about 15 years ago. Understand about having to sell your home to divide up funds. However, I would advise that you are coming into a very transitionary period of your life. Alot of things will be different although the change will not happen all at once. There are alot of strong reasons why patience would be prudent at this time with respect to purchasing a home. I could not advise strongly enough to find a nice place to rent while you adjust to your changing life. There are alot of things that can and will happen over the next few years BUT one of them will not be a run away real estate market to the high side. You kind of see what I am saying? The risk of missing out on appreciation is very low by sitting, while the risk of depreciation if you do make a purchase is very high. The fact that you will be having alot of transition in your life is another factor that should not be ignored. Conversely it should be a priority.

    January 23, 2009 at 9:11 AM #334440
    SD Realtor
    Participant

    Sorry to hear about your divorce. Been there and done that about 15 years ago. Understand about having to sell your home to divide up funds. However, I would advise that you are coming into a very transitionary period of your life. Alot of things will be different although the change will not happen all at once. There are alot of strong reasons why patience would be prudent at this time with respect to purchasing a home. I could not advise strongly enough to find a nice place to rent while you adjust to your changing life. There are alot of things that can and will happen over the next few years BUT one of them will not be a run away real estate market to the high side. You kind of see what I am saying? The risk of missing out on appreciation is very low by sitting, while the risk of depreciation if you do make a purchase is very high. The fact that you will be having alot of transition in your life is another factor that should not be ignored. Conversely it should be a priority.

    January 23, 2009 at 9:11 AM #333911
    SD Realtor
    Participant

    Sorry to hear about your divorce. Been there and done that about 15 years ago. Understand about having to sell your home to divide up funds. However, I would advise that you are coming into a very transitionary period of your life. Alot of things will be different although the change will not happen all at once. There are alot of strong reasons why patience would be prudent at this time with respect to purchasing a home. I could not advise strongly enough to find a nice place to rent while you adjust to your changing life. There are alot of things that can and will happen over the next few years BUT one of them will not be a run away real estate market to the high side. You kind of see what I am saying? The risk of missing out on appreciation is very low by sitting, while the risk of depreciation if you do make a purchase is very high. The fact that you will be having alot of transition in your life is another factor that should not be ignored. Conversely it should be a priority.

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