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April 23, 2008 at 11:29 AM #193340April 23, 2008 at 11:35 AM #193235
Anonymous
GuestLa Jolla Renter wrote:
“How the $650k PB condo works…
20, 30 something gets down payment from parents, buys 650k condo, has 2 roommates/friends pay $750k a month each, 75% of income goes to housing, 25% toward car and wave runner, lives off the $1500 cash he doesn’t claim with uncle sam.
Side note… owner and 2 roommates park on the street because no parking in front of 650k tandem garage which house wave runner, beach cruisers, & skateboards.
Did I miss anything?”
You missed a lot… I know more than one owner of a $650k condo in PB… here is one scenario for you: Married couple, both professionals, 2 children, combined income of over $200k… down payment came from savings. Don’t assume families with children don’t want to live in condos or PB, because that assumption is wrong.
April 23, 2008 at 11:35 AM #193262GuestLa Jolla Renter wrote:
“How the $650k PB condo works…
20, 30 something gets down payment from parents, buys 650k condo, has 2 roommates/friends pay $750k a month each, 75% of income goes to housing, 25% toward car and wave runner, lives off the $1500 cash he doesn’t claim with uncle sam.
Side note… owner and 2 roommates park on the street because no parking in front of 650k tandem garage which house wave runner, beach cruisers, & skateboards.
Did I miss anything?”
You missed a lot… I know more than one owner of a $650k condo in PB… here is one scenario for you: Married couple, both professionals, 2 children, combined income of over $200k… down payment came from savings. Don’t assume families with children don’t want to live in condos or PB, because that assumption is wrong.
April 23, 2008 at 11:35 AM #193290GuestLa Jolla Renter wrote:
“How the $650k PB condo works…
20, 30 something gets down payment from parents, buys 650k condo, has 2 roommates/friends pay $750k a month each, 75% of income goes to housing, 25% toward car and wave runner, lives off the $1500 cash he doesn’t claim with uncle sam.
Side note… owner and 2 roommates park on the street because no parking in front of 650k tandem garage which house wave runner, beach cruisers, & skateboards.
Did I miss anything?”
You missed a lot… I know more than one owner of a $650k condo in PB… here is one scenario for you: Married couple, both professionals, 2 children, combined income of over $200k… down payment came from savings. Don’t assume families with children don’t want to live in condos or PB, because that assumption is wrong.
April 23, 2008 at 11:35 AM #193305GuestLa Jolla Renter wrote:
“How the $650k PB condo works…
20, 30 something gets down payment from parents, buys 650k condo, has 2 roommates/friends pay $750k a month each, 75% of income goes to housing, 25% toward car and wave runner, lives off the $1500 cash he doesn’t claim with uncle sam.
Side note… owner and 2 roommates park on the street because no parking in front of 650k tandem garage which house wave runner, beach cruisers, & skateboards.
Did I miss anything?”
You missed a lot… I know more than one owner of a $650k condo in PB… here is one scenario for you: Married couple, both professionals, 2 children, combined income of over $200k… down payment came from savings. Don’t assume families with children don’t want to live in condos or PB, because that assumption is wrong.
April 23, 2008 at 11:35 AM #193351GuestLa Jolla Renter wrote:
“How the $650k PB condo works…
20, 30 something gets down payment from parents, buys 650k condo, has 2 roommates/friends pay $750k a month each, 75% of income goes to housing, 25% toward car and wave runner, lives off the $1500 cash he doesn’t claim with uncle sam.
Side note… owner and 2 roommates park on the street because no parking in front of 650k tandem garage which house wave runner, beach cruisers, & skateboards.
Did I miss anything?”
You missed a lot… I know more than one owner of a $650k condo in PB… here is one scenario for you: Married couple, both professionals, 2 children, combined income of over $200k… down payment came from savings. Don’t assume families with children don’t want to live in condos or PB, because that assumption is wrong.
April 23, 2008 at 11:41 AM #193261GuestHere’s a 3 BR $600k condo in PB that just closed… not even near the beach but still commanding the higher price, even with the credit crunch:
http://www.sdlookup.com/MLS-076061056-2229_Felspar_San_Diego_CA_92109
Just curious, La Jolla Renter, who is the buyer for this one with the status of lending and full doc loans?
My point is, while you will likely continue to see drops in PB and LJ, I wouldn’t get too excited about buying a nice house for $300k, or even a decent 3 BR condo. I could be wrong, but think that the fact that these areas are holding value very well bears repeating.
April 23, 2008 at 11:41 AM #193287GuestHere’s a 3 BR $600k condo in PB that just closed… not even near the beach but still commanding the higher price, even with the credit crunch:
http://www.sdlookup.com/MLS-076061056-2229_Felspar_San_Diego_CA_92109
Just curious, La Jolla Renter, who is the buyer for this one with the status of lending and full doc loans?
My point is, while you will likely continue to see drops in PB and LJ, I wouldn’t get too excited about buying a nice house for $300k, or even a decent 3 BR condo. I could be wrong, but think that the fact that these areas are holding value very well bears repeating.
April 23, 2008 at 11:41 AM #193315GuestHere’s a 3 BR $600k condo in PB that just closed… not even near the beach but still commanding the higher price, even with the credit crunch:
http://www.sdlookup.com/MLS-076061056-2229_Felspar_San_Diego_CA_92109
Just curious, La Jolla Renter, who is the buyer for this one with the status of lending and full doc loans?
My point is, while you will likely continue to see drops in PB and LJ, I wouldn’t get too excited about buying a nice house for $300k, or even a decent 3 BR condo. I could be wrong, but think that the fact that these areas are holding value very well bears repeating.
April 23, 2008 at 11:41 AM #193331GuestHere’s a 3 BR $600k condo in PB that just closed… not even near the beach but still commanding the higher price, even with the credit crunch:
http://www.sdlookup.com/MLS-076061056-2229_Felspar_San_Diego_CA_92109
Just curious, La Jolla Renter, who is the buyer for this one with the status of lending and full doc loans?
My point is, while you will likely continue to see drops in PB and LJ, I wouldn’t get too excited about buying a nice house for $300k, or even a decent 3 BR condo. I could be wrong, but think that the fact that these areas are holding value very well bears repeating.
April 23, 2008 at 11:41 AM #193374GuestHere’s a 3 BR $600k condo in PB that just closed… not even near the beach but still commanding the higher price, even with the credit crunch:
http://www.sdlookup.com/MLS-076061056-2229_Felspar_San_Diego_CA_92109
Just curious, La Jolla Renter, who is the buyer for this one with the status of lending and full doc loans?
My point is, while you will likely continue to see drops in PB and LJ, I wouldn’t get too excited about buying a nice house for $300k, or even a decent 3 BR condo. I could be wrong, but think that the fact that these areas are holding value very well bears repeating.
April 23, 2008 at 12:17 PM #193270jpinpb
ParticipantLet’s see. We can all agree there is a spring bounce. I just w/in the past few months, seen 2 SFH, zoned MULTI sell in the 700k range. One was in turnkey on Diamond and one in the 700 block of Sapphire. If we take into consideration the defaults and foreclosures and inventory and impending inventory, the declining condos and townhomes, the unemployment figures, what to you think the price of the homes will be year-end or next year?
Again, I would not be surprised that the SFH end up going for 550k-600k by the time this is all said and done, easily.
April 23, 2008 at 12:17 PM #193297ParticipantLet’s see. We can all agree there is a spring bounce. I just w/in the past few months, seen 2 SFH, zoned MULTI sell in the 700k range. One was in turnkey on Diamond and one in the 700 block of Sapphire. If we take into consideration the defaults and foreclosures and inventory and impending inventory, the declining condos and townhomes, the unemployment figures, what to you think the price of the homes will be year-end or next year?
Again, I would not be surprised that the SFH end up going for 550k-600k by the time this is all said and done, easily.
April 23, 2008 at 12:17 PM #193326ParticipantLet’s see. We can all agree there is a spring bounce. I just w/in the past few months, seen 2 SFH, zoned MULTI sell in the 700k range. One was in turnkey on Diamond and one in the 700 block of Sapphire. If we take into consideration the defaults and foreclosures and inventory and impending inventory, the declining condos and townhomes, the unemployment figures, what to you think the price of the homes will be year-end or next year?
Again, I would not be surprised that the SFH end up going for 550k-600k by the time this is all said and done, easily.
April 23, 2008 at 12:17 PM #193339ParticipantLet’s see. We can all agree there is a spring bounce. I just w/in the past few months, seen 2 SFH, zoned MULTI sell in the 700k range. One was in turnkey on Diamond and one in the 700 block of Sapphire. If we take into consideration the defaults and foreclosures and inventory and impending inventory, the declining condos and townhomes, the unemployment figures, what to you think the price of the homes will be year-end or next year?
Again, I would not be surprised that the SFH end up going for 550k-600k by the time this is all said and done, easily.
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