Rent are rising

[spdrun]

Not even close to the density of Manhattan or SF. There is still more buildable land in greater SD than either of those two places.

[an]

[quote=spdrun]Not even close to the density of Manhattan or SF. There is still more buildable land in greater SD than either of those two places.[/quote]I’m not talking about density. I’m talking about the fact that there is no big plot of buildable land left to build major tract of SFR. Everything is either already built or are reserved as open space, so you can’t build there. I’m also talking about SD city, not county. Although, even county is pretty close to complete built out.

[fun4vnay2]

I agreee with this limited land which is a fact. Someone told me the same thing 2007 that land is in limited quantity ( sandwiched between ocean and desert ) in highly desirable san diego and hence real estate prices would never go down but keep on increasing.

[an]

[quote=rockingtime]I agreee with this limited land which is a fact. Someone told me the same thing 2007 that land is in limited quantity ( sandwiched between ocean and desert ) in highly desirable san diego and hence real estate prices would never go down but keep on increasing.[/quote]
Did you buy in 2009-2011? Are you selling now?

[NotCranky]

[quote=AN][quote=spdrun]Not even close to the density of Manhattan or SF. There is still more buildable land in greater SD than either of those two places.[/quote]I’m not talking about density. I’m talking about the fact that there is no big plot of buildable land left to build major tract of SFR. Everything is either already built or are reserved as open space, so you can’t build there. I’m also talking about SD city, not county. Although, even county is pretty close to complete built out.[/quote]
Developers may be allowed to buy at the open space through some mitigation process. Right now to split lots where I live as much as 60% of the acreage goes to open space. later when density encroaches I am pretty sure for the right price to the county the open space will be developed.

It’s a nice scheme. By the time the land is ripe only developers with deep pockets can afford to play and the county gets a lot of money and has control all the while.

[an]

[quote=Blogstar][quote=AN][quote=spdrun]Not even close to the density of Manhattan or SF. There is still more buildable land in greater SD than either of those two places.[/quote]I’m not talking about density. I’m talking about the fact that there is no big plot of buildable land left to build major tract of SFR. Everything is either already built or are reserved as open space, so you can’t build there. I’m also talking about SD city, not county. Although, even county is pretty close to complete built out.[/quote]
Developers may be allowed to buy at the open space through some mitigation process. Right now to split lots where I live as much as 60% of the acreage goes to open space. later when density encroaches I am pretty sure for the right price to the county the open space will be developed.

It’s a nice scheme. By the time the land is ripe only developers with deep pockets can afford to play and the county gets a lot of money and has control all the while.[/quote]
I hope not. I hope the city doesn’t reduce the open space and only approve high density projects from now on.

[NotCranky]

[quote=AN][quote=Blogstar][quote=AN][quote=spdrun]Not even close to the density of Manhattan or SF. There is still more buildable land in greater SD than either of those two places.[/quote]I’m not talking about density. I’m talking about the fact that there is no big plot of buildable land left to build major tract of SFR. Everything is either already built or are reserved as open space, so you can’t build there. I’m also talking about SD city, not county. Although, even county is pretty close to complete built out.[/quote]
Developers may be allowed to buy at the open space through some mitigation process. Right now to split lots where I live as much as 60% of the acreage goes to open space. later when density encroaches I am pretty sure for the right price to the county the open space will be developed.

It’s a nice scheme. By the time the land is ripe only developers with deep pockets can afford to play and the county gets a lot of money and has control all the while.[/quote]
I hope not. I hope the city doesn’t reduce the open space and only approve high density projects from now on.[/quote]
High density might be a stipulation for getting the open space. Could be a case of “be careful what you ask for”?

[an]

[quote=Blogstar]High density might be a stipulation for getting the open space. Could be a case of “be careful what you ask for”?[/quote]
I actually welcome high density as long as they don’t touch open space.

[fun4vnay2]

[quote=AN][quote=rockingtime]I agreee with this limited land which is a fact. Someone told me the same thing 2007 that land is in limited quantity ( sandwiched between ocean and desert ) in highly desirable san diego and hence real estate prices would never go down but keep on increasing.[/quote]
Did you buy in 2009-2011? Are you selling now?[/quote]

yeah, i am diluting my real estate holdings in socal.

[an]

[quote=rockingtime][quote=AN][quote=rockingtime]I agreee with this limited land which is a fact. Someone told me the same thing 2007 that land is in limited quantity ( sandwiched between ocean and desert ) in highly desirable san diego and hence real estate prices would never go down but keep on increasing.[/quote]
Did you buy in 2009-2011? Are you selling now?[/quote]

yeah, i am diluting my real estate holdings in socal.[/quote]Cool. We’re on opposite side of this trade. We’ll see where prices will be in 5-10 years.

[fun4vnay2]

Yeah, its gonna be fun this time.
I have been lucky twice, bought in 2001, sold in 2007 and bought again in 2011.
THis forum helped me a lot to gauge common sentiment.

When people say this time is different, my gut tells me: This is the time..

It has been boom n bust in socal and i don’t see any reason why this won’t be same in the future

We all have out beliefs and we put our money where our beliefs are..

[The-Shoveler]

Selling and buying back incurs a lot of expenses.

IMO You really need to get 30% or greater decline to make it worth it (again IMO).

That is also IMO very very unlikely (what happened before was a once in a lifetime).

But if it does, it sure seems they are about to start the sub-prime finance machine again (if this does turn out like the other run-up it could go a few more years).

[spdrun]

It will take a few years for the sub-prime machine to go anywhere fast.

If Democrats hold power in 2016, QM/QRM isn’t going anywhere. If GOP gets into power, Fannie/Freddie will likely get privatized with attendant disruption to the loan markets.

Why do you need a 30% decline to profit?

Say you bought a home in 2009 for $300,000 that’s now worth $500,000. You can get $200,000 profit out of selling it, less a few grand if it’s an FSBO. Say you end up with $190,000.

Prices drop 15%. Similar house is worth $425,000, which you buy with 20% down. Assuming $5k closing cost, you’ve only spent $90,000 of the cash.

You could probably also take the profit via a refi, but then you’d be close to being underwater if prices drop.

[The-Shoveler]

Cost of renting, moving, (Most people have Kids) so there are schools etc….

That is a lot of work and selling there are bound to be a lot more expenses than just the closing costs.

But If you live out of a suitcase and have no kids/family sure go for it LOL.

[spdrun]

Really, rental is the only issue, and with almost $200k in the bank, finding something in the school district shouldn’t be impossible.

Regarding moving, Americans are way too attached to their “stuff”. There’s so much unwanted junk floating around out there that one can easily buy new furniture off Craigslist or from a thrift store.

Apart from books, one old writing desk, everything else that I’m attached to could fit in a few milk crates. If kids are trained not to get too attached to material stuff at an early age, it will be easier for them down the line.

[Author]

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