Mira Mesa prices

[an]

EconProf, I think you misunderstood why some of us compare cost of ownership with rent. It’s not to buy and rent it out right away. If that’s your intention, I agree, $225k would be a much more intriguing price. The reason why I use mortgage vs rent is to determine whether it’s cheaper for me to continue renting or buy. You’re throwing money way with rent, but you’re also throwing money away with interest and tax. The question comes down to, which one is less.

esmith, $200/month more makes a big difference. feraina also did a fine job explaining why UCSD students would prefer MM vs PQ/RB/etc. You can also rent a older (built in the 70s-80s) 2000+ sq-ft house with a decent size yard in MM for around $2100-2200 as well, if size and yard means more to you. You also have to be realistic about the commute time. I live on the west end of MM for many years and went to UCSD, worked in SV and CV. My commute to UCSD/CV usually take no more than 10 minutes anytime since there no traffic and commuting to SV should take no more than 5 minutes. How long will it take during peak traffic time to get across 56 or MM Blvd from PQ? I suspect it to be 30+ minutes.

cv2, Bugs, etc… I agree that when the parameters change, the price would also have to change. So if rent drops and/or rates rise, we have to see lower prices. The only problem is, these are unknown parameters and there’s no real good scientific way to predict them either.

[noone]

[quote=asianautica]You forget that you will get a tax deduction on the interest as well.[/quote]

You’re right! I did forget that in my calculations.

[noone]

[quote=asianautica]You forget that you will get a tax deduction on the interest as well.[/quote]

You’re right! I did forget that in my calculations.

[noone]

[quote=asianautica]You forget that you will get a tax deduction on the interest as well.[/quote]

You’re right! I did forget that in my calculations.

[noone]

[quote=asianautica]You forget that you will get a tax deduction on the interest as well.[/quote]

You’re right! I did forget that in my calculations.

[noone]

[quote=asianautica]You forget that you will get a tax deduction on the interest as well.[/quote]

You’re right! I did forget that in my calculations.

[DWCAP]

As for rents going down, I am kinda at a loss. I think AN is right about the gas prices affecting things. If I had to guess alot of commuters are moving closer to work, and it is hard to get closer to sorrento valley than MM. Economically it may not make sense to pay $200/month more to save $80 in gas, but people are alot more price sensitive to gas prices than rents(short term).

I do know that I don’t want to move right now and am glad I have a lease I can afford. I also know that if things keep on the path that they are, maybe I should follow my friends and try out another part of the county. My buddy moved from LA to Baltimore last year. The LL he wanted to rent from (2/2 duplex with a yard and basement) asked if $900 a month would be “ok” and hinted negotiations were possible. He was paying 1550 in LA for a 1/1 apt on a major road. Needless to say, he was “ok” with it.

[DWCAP]

As for rents going down, I am kinda at a loss. I think AN is right about the gas prices affecting things. If I had to guess alot of commuters are moving closer to work, and it is hard to get closer to sorrento valley than MM. Economically it may not make sense to pay $200/month more to save $80 in gas, but people are alot more price sensitive to gas prices than rents(short term).

I do know that I don’t want to move right now and am glad I have a lease I can afford. I also know that if things keep on the path that they are, maybe I should follow my friends and try out another part of the county. My buddy moved from LA to Baltimore last year. The LL he wanted to rent from (2/2 duplex with a yard and basement) asked if $900 a month would be “ok” and hinted negotiations were possible. He was paying 1550 in LA for a 1/1 apt on a major road. Needless to say, he was “ok” with it.

[DWCAP]

As for rents going down, I am kinda at a loss. I think AN is right about the gas prices affecting things. If I had to guess alot of commuters are moving closer to work, and it is hard to get closer to sorrento valley than MM. Economically it may not make sense to pay $200/month more to save $80 in gas, but people are alot more price sensitive to gas prices than rents(short term).

I do know that I don’t want to move right now and am glad I have a lease I can afford. I also know that if things keep on the path that they are, maybe I should follow my friends and try out another part of the county. My buddy moved from LA to Baltimore last year. The LL he wanted to rent from (2/2 duplex with a yard and basement) asked if $900 a month would be “ok” and hinted negotiations were possible. He was paying 1550 in LA for a 1/1 apt on a major road. Needless to say, he was “ok” with it.

[DWCAP]

As for rents going down, I am kinda at a loss. I think AN is right about the gas prices affecting things. If I had to guess alot of commuters are moving closer to work, and it is hard to get closer to sorrento valley than MM. Economically it may not make sense to pay $200/month more to save $80 in gas, but people are alot more price sensitive to gas prices than rents(short term).

I do know that I don’t want to move right now and am glad I have a lease I can afford. I also know that if things keep on the path that they are, maybe I should follow my friends and try out another part of the county. My buddy moved from LA to Baltimore last year. The LL he wanted to rent from (2/2 duplex with a yard and basement) asked if $900 a month would be “ok” and hinted negotiations were possible. He was paying 1550 in LA for a 1/1 apt on a major road. Needless to say, he was “ok” with it.

[DWCAP]

As for rents going down, I am kinda at a loss. I think AN is right about the gas prices affecting things. If I had to guess alot of commuters are moving closer to work, and it is hard to get closer to sorrento valley than MM. Economically it may not make sense to pay $200/month more to save $80 in gas, but people are alot more price sensitive to gas prices than rents(short term).

I do know that I don’t want to move right now and am glad I have a lease I can afford. I also know that if things keep on the path that they are, maybe I should follow my friends and try out another part of the county. My buddy moved from LA to Baltimore last year. The LL he wanted to rent from (2/2 duplex with a yard and basement) asked if $900 a month would be “ok” and hinted negotiations were possible. He was paying 1550 in LA for a 1/1 apt on a major road. Needless to say, he was “ok” with it.

[peterb]

We’re so used to seeing real estate in CA rise over a 10 year time frame that we tend to automatically consider paying rent as “throwing away money”. But really, it’s all a financial decision. Comparing rent to buying from a financial perspective still requires that one calculate all the real cost involved. I have been a landlord and a home owner for many years. Even with all the tax deductions, etc…if it werent for appreciation, being a landlord would be a losing position. If you look at states with very low levels of appreciation, often the only arguement for home ownership is that over the long haul one gains equity in the house by paying off the loan. And then eventually lives mortgage free or at least very reduced due to inflation reducing the mortgage over time and the tax deductions.

[peterb]

We’re so used to seeing real estate in CA rise over a 10 year time frame that we tend to automatically consider paying rent as “throwing away money”. But really, it’s all a financial decision. Comparing rent to buying from a financial perspective still requires that one calculate all the real cost involved. I have been a landlord and a home owner for many years. Even with all the tax deductions, etc…if it werent for appreciation, being a landlord would be a losing position. If you look at states with very low levels of appreciation, often the only arguement for home ownership is that over the long haul one gains equity in the house by paying off the loan. And then eventually lives mortgage free or at least very reduced due to inflation reducing the mortgage over time and the tax deductions.

[peterb]

We’re so used to seeing real estate in CA rise over a 10 year time frame that we tend to automatically consider paying rent as “throwing away money”. But really, it’s all a financial decision. Comparing rent to buying from a financial perspective still requires that one calculate all the real cost involved. I have been a landlord and a home owner for many years. Even with all the tax deductions, etc…if it werent for appreciation, being a landlord would be a losing position. If you look at states with very low levels of appreciation, often the only arguement for home ownership is that over the long haul one gains equity in the house by paying off the loan. And then eventually lives mortgage free or at least very reduced due to inflation reducing the mortgage over time and the tax deductions.

[peterb]

We’re so used to seeing real estate in CA rise over a 10 year time frame that we tend to automatically consider paying rent as “throwing away money”. But really, it’s all a financial decision. Comparing rent to buying from a financial perspective still requires that one calculate all the real cost involved. I have been a landlord and a home owner for many years. Even with all the tax deductions, etc…if it werent for appreciation, being a landlord would be a losing position. If you look at states with very low levels of appreciation, often the only arguement for home ownership is that over the long haul one gains equity in the house by paying off the loan. And then eventually lives mortgage free or at least very reduced due to inflation reducing the mortgage over time and the tax deductions.

[Author]

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