Lucera Condo – $199k

[University City Renter]

I can give 2 recent events that make me fully agree that unemployment is worse than we think.
1) We moved recently (just from one neighborhood to another) I go to pick up the U-haul. I ask where’s the dolly? The guy says he’s out. According to him, he’s rented hundreds of trucks to people moving back east (with his dollies) but only a couple dozen of people have moved here to SD to replenish his supply recently.
2) My wife will graduate soon. GPA extremely high, has good experience, major is a good choice – there should be great demand for people like her. Every time she goes for interview they explain that they were surprised to get hundreds of resumes for the sole position. Head-hunters tell her up front, there are just no jobs right now; job market is the slowest they’ve ever seen. She finally got something but what a painful process!

[University City Renter]

I can give 2 recent events that make me fully agree that unemployment is worse than we think.
1) We moved recently (just from one neighborhood to another) I go to pick up the U-haul. I ask where’s the dolly? The guy says he’s out. According to him, he’s rented hundreds of trucks to people moving back east (with his dollies) but only a couple dozen of people have moved here to SD to replenish his supply recently.
2) My wife will graduate soon. GPA extremely high, has good experience, major is a good choice – there should be great demand for people like her. Every time she goes for interview they explain that they were surprised to get hundreds of resumes for the sole position. Head-hunters tell her up front, there are just no jobs right now; job market is the slowest they’ve ever seen. She finally got something but what a painful process!

[sdnerd]

I do not know anyone who wants to buy a UTC condo. In fact, I’m not sure anybody does – just to rent for work/school.

Most people I know are waiting on the sidelines, until it reaches a certain price (hopefully). Some have recently jumped at MM REO’s where buy ~= rent.

I don’t know what significant demand would be. I would say 2% of the population is a whole lot if they had their eyes on the same property or area as you do though. 🙂

Contrary to a strong belief on this forum, I hoped to convey that many young people (especially couples) do in fact have strong income & the ability to save for a 20% DP. At least some portion were either priced out, or not on the market the last 8-10 years and counting.

If there is money, as prices fall there will be demand.

[sdnerd]

I do not know anyone who wants to buy a UTC condo. In fact, I’m not sure anybody does – just to rent for work/school.

Most people I know are waiting on the sidelines, until it reaches a certain price (hopefully). Some have recently jumped at MM REO’s where buy ~= rent.

I don’t know what significant demand would be. I would say 2% of the population is a whole lot if they had their eyes on the same property or area as you do though. 🙂

Contrary to a strong belief on this forum, I hoped to convey that many young people (especially couples) do in fact have strong income & the ability to save for a 20% DP. At least some portion were either priced out, or not on the market the last 8-10 years and counting.

If there is money, as prices fall there will be demand.

[sdnerd]

I do not know anyone who wants to buy a UTC condo. In fact, I’m not sure anybody does – just to rent for work/school.

Most people I know are waiting on the sidelines, until it reaches a certain price (hopefully). Some have recently jumped at MM REO’s where buy ~= rent.

I don’t know what significant demand would be. I would say 2% of the population is a whole lot if they had their eyes on the same property or area as you do though. 🙂

Contrary to a strong belief on this forum, I hoped to convey that many young people (especially couples) do in fact have strong income & the ability to save for a 20% DP. At least some portion were either priced out, or not on the market the last 8-10 years and counting.

If there is money, as prices fall there will be demand.

[sdnerd]

I do not know anyone who wants to buy a UTC condo. In fact, I’m not sure anybody does – just to rent for work/school.

Most people I know are waiting on the sidelines, until it reaches a certain price (hopefully). Some have recently jumped at MM REO’s where buy ~= rent.

I don’t know what significant demand would be. I would say 2% of the population is a whole lot if they had their eyes on the same property or area as you do though. 🙂

Contrary to a strong belief on this forum, I hoped to convey that many young people (especially couples) do in fact have strong income & the ability to save for a 20% DP. At least some portion were either priced out, or not on the market the last 8-10 years and counting.

If there is money, as prices fall there will be demand.

[sdnerd]

I do not know anyone who wants to buy a UTC condo. In fact, I’m not sure anybody does – just to rent for work/school.

Most people I know are waiting on the sidelines, until it reaches a certain price (hopefully). Some have recently jumped at MM REO’s where buy ~= rent.

I don’t know what significant demand would be. I would say 2% of the population is a whole lot if they had their eyes on the same property or area as you do though. 🙂

Contrary to a strong belief on this forum, I hoped to convey that many young people (especially couples) do in fact have strong income & the ability to save for a 20% DP. At least some portion were either priced out, or not on the market the last 8-10 years and counting.

If there is money, as prices fall there will be demand.

[jpinpb]

I guess it really depends on the circle you travel in. Sure there are young people w/money. And probably for the same number of people that have money, there are many that don’t. Just a few.

I know of a couple w/child who have been flipping places since 2000. Last year bought a place in North PB for 1.7 million. Don’t know them well enough to know loan conditions. I wonder if they are so optimistic and think they will flip for 2.5 or if this is where they will nest.

I know another couple who barely could afford to scrounge up enough for a condo by Mesa College. Both do ok financially. They did a 10 yr I/0.

I know a single mom Spanish interpreter that rents and not by choice. A teacher that rents, same. A police officer that rents, also not by choice. Yet his partner is married to someone w/$$$ and they own/rent from bank in 4Closure Ranch.

I know a fireman and nurse in my complex, both doing well, but not 6 figures. They rent and are looking to buy and refuse to overpay, although they can probably afford it.

A lot of other people I know that own had bought pre-2000 and are staying put.

We can speak in generalities, but to be fair, there are probably just as many people who are not in the income bracket that will allow them to buy. Those that I know that can are waiting, including myself.

[jpinpb]

I guess it really depends on the circle you travel in. Sure there are young people w/money. And probably for the same number of people that have money, there are many that don’t. Just a few.

I know of a couple w/child who have been flipping places since 2000. Last year bought a place in North PB for 1.7 million. Don’t know them well enough to know loan conditions. I wonder if they are so optimistic and think they will flip for 2.5 or if this is where they will nest.

I know another couple who barely could afford to scrounge up enough for a condo by Mesa College. Both do ok financially. They did a 10 yr I/0.

I know a single mom Spanish interpreter that rents and not by choice. A teacher that rents, same. A police officer that rents, also not by choice. Yet his partner is married to someone w/$$$ and they own/rent from bank in 4Closure Ranch.

I know a fireman and nurse in my complex, both doing well, but not 6 figures. They rent and are looking to buy and refuse to overpay, although they can probably afford it.

A lot of other people I know that own had bought pre-2000 and are staying put.

We can speak in generalities, but to be fair, there are probably just as many people who are not in the income bracket that will allow them to buy. Those that I know that can are waiting, including myself.

[jpinpb]

I guess it really depends on the circle you travel in. Sure there are young people w/money. And probably for the same number of people that have money, there are many that don’t. Just a few.

I know of a couple w/child who have been flipping places since 2000. Last year bought a place in North PB for 1.7 million. Don’t know them well enough to know loan conditions. I wonder if they are so optimistic and think they will flip for 2.5 or if this is where they will nest.

I know another couple who barely could afford to scrounge up enough for a condo by Mesa College. Both do ok financially. They did a 10 yr I/0.

I know a single mom Spanish interpreter that rents and not by choice. A teacher that rents, same. A police officer that rents, also not by choice. Yet his partner is married to someone w/$$$ and they own/rent from bank in 4Closure Ranch.

I know a fireman and nurse in my complex, both doing well, but not 6 figures. They rent and are looking to buy and refuse to overpay, although they can probably afford it.

A lot of other people I know that own had bought pre-2000 and are staying put.

We can speak in generalities, but to be fair, there are probably just as many people who are not in the income bracket that will allow them to buy. Those that I know that can are waiting, including myself.

[jpinpb]

I guess it really depends on the circle you travel in. Sure there are young people w/money. And probably for the same number of people that have money, there are many that don’t. Just a few.

I know of a couple w/child who have been flipping places since 2000. Last year bought a place in North PB for 1.7 million. Don’t know them well enough to know loan conditions. I wonder if they are so optimistic and think they will flip for 2.5 or if this is where they will nest.

I know another couple who barely could afford to scrounge up enough for a condo by Mesa College. Both do ok financially. They did a 10 yr I/0.

I know a single mom Spanish interpreter that rents and not by choice. A teacher that rents, same. A police officer that rents, also not by choice. Yet his partner is married to someone w/$$$ and they own/rent from bank in 4Closure Ranch.

I know a fireman and nurse in my complex, both doing well, but not 6 figures. They rent and are looking to buy and refuse to overpay, although they can probably afford it.

A lot of other people I know that own had bought pre-2000 and are staying put.

We can speak in generalities, but to be fair, there are probably just as many people who are not in the income bracket that will allow them to buy. Those that I know that can are waiting, including myself.

[jpinpb]

I guess it really depends on the circle you travel in. Sure there are young people w/money. And probably for the same number of people that have money, there are many that don’t. Just a few.

I know of a couple w/child who have been flipping places since 2000. Last year bought a place in North PB for 1.7 million. Don’t know them well enough to know loan conditions. I wonder if they are so optimistic and think they will flip for 2.5 or if this is where they will nest.

I know another couple who barely could afford to scrounge up enough for a condo by Mesa College. Both do ok financially. They did a 10 yr I/0.

I know a single mom Spanish interpreter that rents and not by choice. A teacher that rents, same. A police officer that rents, also not by choice. Yet his partner is married to someone w/$$$ and they own/rent from bank in 4Closure Ranch.

I know a fireman and nurse in my complex, both doing well, but not 6 figures. They rent and are looking to buy and refuse to overpay, although they can probably afford it.

A lot of other people I know that own had bought pre-2000 and are staying put.

We can speak in generalities, but to be fair, there are probably just as many people who are not in the income bracket that will allow them to buy. Those that I know that can are waiting, including myself.

[briansd1]

Just came across a Lucera listing and did a quick search to see if there was a previous discussion.

Oh, what a difference a year makes.

http://www.sdlookup.com/Property-79731009-7190_Shoreline_Dr_6212_San_Diego_CA_92122

I predicted plentiful basic 1/1s at $150k, in “nice” areas such as UTC, Downtown, Hillcrest, Point Loma, Carmel Valley, Carlsbad, etc.. Looks like my prediction is coming true.

[briansd1]

Just came across a Lucera listing and did a quick search to see if there was a previous discussion.

Oh, what a difference a year makes.

http://www.sdlookup.com/Property-79731009-7190_Shoreline_Dr_6212_San_Diego_CA_92122

I predicted plentiful basic 1/1s at $150k, in “nice” areas such as UTC, Downtown, Hillcrest, Point Loma, Carmel Valley, Carlsbad, etc.. Looks like my prediction is coming true.

[briansd1]

Just came across a Lucera listing and did a quick search to see if there was a previous discussion.

Oh, what a difference a year makes.

http://www.sdlookup.com/Property-79731009-7190_Shoreline_Dr_6212_San_Diego_CA_92122

I predicted plentiful basic 1/1s at $150k, in “nice” areas such as UTC, Downtown, Hillcrest, Point Loma, Carmel Valley, Carlsbad, etc.. Looks like my prediction is coming true.

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