- This topic has 23 replies, 13 voices, and was last updated 11 years, 7 months ago by
Veritas.
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October 4, 2012 at 1:08 PM #20166October 4, 2012 at 1:27 PM #752197
spdrun
ParticipantHere’s hoping for a panic that hits stocks and the economy in general. Callous bastige here and f’en proud of it!
October 4, 2012 at 4:23 PM #752204UCGal
ParticipantInteresting. In reading up about it – it’s not just costco… it’s pretty much across the board.
Independent stations are hit hardest.
Costco – because of volume will get hit hard.
October 4, 2012 at 5:44 PM #752205paramount
ParticipantObviously this is a real concern…
October 4, 2012 at 6:59 PM #752207Essbee
Participant1 week ago, price at Arco on Balboa was $3.99.
Drove by Arco this AM and gas was $4.29.
By this afternoon it was $4.49.Ugh! Prices are going up really quickly. An analyst on KPBS said to expect record high prices here in San Diego in the next 7-10 days.
Will this hurt Obama?
October 4, 2012 at 7:03 PM #752208ParticipantHey, if it delivers a roundhouse pimp-slap to the economy and real estate by extension, this won’t be a bad thing.
October 4, 2012 at 7:33 PM #752209NotCranky
ParticipantIt might hurt Obama and could be easier than “collapsing” Spain.
October 4, 2012 at 7:36 PM #752210
CoronitaParticipant[quote=spdrun]Hey, if it delivers a roundhouse pimp-slap to the economy and real estate by extension, this won’t be a bad thing.[/quote]
dream on.
October 4, 2012 at 7:54 PM #752211Username
ParticipantI’m in NorCal but I saw gas jump a quarter today. Cheapest AM/PM was $3.89 this morning, jumped to $4.19 this evening. Got gas at Costco for $3.95 and felt lucky to pay under $4. I will be using http://www.gasbuddy.com/ when filling up.
October 4, 2012 at 8:31 PM #752212Participantdream on.
High energy prices basically killed nascent recoveries in 2010 and 2011.
This being said, I’m unbiased either way. Picking something up in SD County cheap would be great (and deals still exist). I’m also pretty leery of condos, which I’d be limited to in SD Co. A lot seem to be in the habit of charging assessments. $250/mo assessment for a year on something renting for $900-1000/mo? BLAM! There goes your cash flow after regular common charges, mortgage, and taxes.
But…
Real estate in my home state is as low as it has ever been. Looking at a 2-family probate sale selling for $145k (probably will go for $135 since it’s been sitting for a month), both units rent for $950/mo, taxes are $400/mo, utilities are $250/mo avg, insurance is $150/mo. Not in the toniest town, but within walking distance to the center of a VERY nice downtown.Almost 10% pro forma right there, and not out in “lizardland” or whatever the East Coast equivalent is to it. The current market there is basically the equivalent of San Diego ca. late 2010. Which makes sense, because the foreclosure process is judicial and takes two years longer on average than in CA – foreclosures are just hitting the market now big-time.
October 4, 2012 at 8:34 PM #752213CoronitaParticipant[quote=spdrun]
dream on.
High energy prices basically killed nascent recoveries in 2010 and 2011.
This being said, real estate in my home state is as low as it has ever been. Looking at a 2-family probate sale selling for $145k (probably will go for $135 since it’s been sitting for a month), both units rent for $950/mo, taxes are $400/mo, utilities are $250/mo avg, insurance is $150/mo. Not in the toniest town, but within walking distance to the center of a VERY nice downtown.
Almost 10% pro forma right there, and not out in “lizardland” or whatever the East Coast equivalent is to it. The current market there is basically the equivalent of San Diego ca. late 2010. Which makes sense, because the foreclosure process is judicial and takes two years longer on average than in CA – foreclosures are just hitting the market now big-time.[/quote]
With the super low rates, I don’t see housing prices moving downward in a significant way. And the fed already said they will throw everything they got… If rates keep low or keep plummeting, there’s plenty of people doing ok who would pick things up at market price, and there’s enough competition to do it…people like me who would refinance to oblivion to buy other things…because I can…For example, if Fed offered close to 0% finance on a 15 year or 30 year… I would definitely consider buying a larger home(s) in CarmelV and not be in a hurry to sell my existing. And we’re not close to 0% financing yet…And when it comes to the financial pecking order. There’s plenty of people who are even in better shape than me.
October 4, 2012 at 8:42 PM #752214ParticipantPrices seem to have more to do with foreclosure inventory, short-sale inventory (controlled by sentiment, since people are less likely to sell short if they think they’ll be above water one day) than whether the 30-year rate is 4 or 3.5% on a given day. Hence prices have increased in some areas (Phoenix, San Diego) but have decreased or stayed flat in others (NJ, Boston, Orlando).
October 4, 2012 at 10:02 PM #752216CoronitaParticipant[quote=spdrun]Prices seem to have more to do with foreclosure inventory, short-sale inventory (controlled by sentiment, since people are less likely to sell short if they think they’ll be above water one day) than whether the 30-year rate is 4 or 3.5% on a given day. Hence prices have increased in some areas (Phoenix, San Diego) but have decreased or stayed flat in others (NJ, Boston, Orlando).[/quote]
sure. if you say so.
October 4, 2012 at 10:11 PM #752217ParticipantSarcastic yaphole-flapping aside, explain why real estate prices aren’t increasing uniformly across the country, despite mortgage rates being uniformly low? Look at average time to foreclose.
This being said, I’m almost hoping for a Romney win, despite the fact that he’s an obnoxious little prick in almost all respects. Why? ‘cos I like his “foreclose on the bums/kick them and their misbegotten spawn out on the street” idea for working through the real-estate correction. Not crisis. Correction.
October 5, 2012 at 8:01 PM #752241ParticipantThursday:
[quote=Essbee]1 week ago, price at Arco on Balboa was $3.99.
Drove by Arco this AM and gas was $4.29.
By this afternoon it was $4.49.
[/quote]and now Friday afternoon, same station was $4.69.
It was also interesting to me that the Chevron at Balboa & 163 was $4.69, same prcie as Arco. Usually Arco is much cheaper. [although, you can add 2-3 cents per gallon to pay for the ATM fee]
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