Short-Sale dealings in Encinitas (Jerrilynn)

[Nicole]

Thanks Jim. We just saw 1635 Olmeda a couple days ago, way too much work for us. But i think a good option for someone interested in fixing it up. Supposedly there are 3 offers above asking already (who knows). The main house is in pretty bad shape. Take that with a grain of salt thought ’cause I always fall for the staged houses.

Interesting to hear about the REO coming up shortly, i’ll check it out if we don’t get jerrilyn. I don’t think the area is completely different, but there are significantly more rentals up in the older area so it doesn’t have quite the same feel.

-nicole
new house hunter

[Nicole]

Ok SD Realtor, hubby and I just made the the spreadsheet you suggested. Looks like if things turn around in 3 years, we could break even in 7 years approximately. If things really tank down 5% each year until we’re back at 2002 levels, then it’ll take 12-14 years to break even. If we tank faster than it’ll only be 10 years. I feel much better and know that I’m comfortable with those numbers.

After getting all the advice here, we definitely won’t offer full asking. Based on the spreadsheet you outline, I’ll feel comfortable with the purchase if we get it- thanks so much!

-nicole
new house hunter

[Nicole]

Ok SD Realtor, hubby and I just made the the spreadsheet you suggested. Looks like if things turn around in 3 years, we could break even in 7 years approximately. If things really tank down 5% each year until we’re back at 2002 levels, then it’ll take 12-14 years to break even. If we tank faster than it’ll only be 10 years. I feel much better and know that I’m comfortable with those numbers.

After getting all the advice here, we definitely won’t offer full asking. Based on the spreadsheet you outline, I’ll feel comfortable with the purchase if we get it- thanks so much!

-nicole
new house hunter

[Nicole]

Ok SD Realtor, hubby and I just made the the spreadsheet you suggested. Looks like if things turn around in 3 years, we could break even in 7 years approximately. If things really tank down 5% each year until we’re back at 2002 levels, then it’ll take 12-14 years to break even. If we tank faster than it’ll only be 10 years. I feel much better and know that I’m comfortable with those numbers.

After getting all the advice here, we definitely won’t offer full asking. Based on the spreadsheet you outline, I’ll feel comfortable with the purchase if we get it- thanks so much!

-nicole
new house hunter

[Nicole]

Ok SD Realtor, hubby and I just made the the spreadsheet you suggested. Looks like if things turn around in 3 years, we could break even in 7 years approximately. If things really tank down 5% each year until we’re back at 2002 levels, then it’ll take 12-14 years to break even. If we tank faster than it’ll only be 10 years. I feel much better and know that I’m comfortable with those numbers.

After getting all the advice here, we definitely won’t offer full asking. Based on the spreadsheet you outline, I’ll feel comfortable with the purchase if we get it- thanks so much!

-nicole
new house hunter

[Nicole]

Ok SD Realtor, hubby and I just made the the spreadsheet you suggested. Looks like if things turn around in 3 years, we could break even in 7 years approximately. If things really tank down 5% each year until we’re back at 2002 levels, then it’ll take 12-14 years to break even. If we tank faster than it’ll only be 10 years. I feel much better and know that I’m comfortable with those numbers.

After getting all the advice here, we definitely won’t offer full asking. Based on the spreadsheet you outline, I’ll feel comfortable with the purchase if we get it- thanks so much!

-nicole
new house hunter

[sdrealtor]

Most of the schools are pretty good in the area but that is a generalization. there are very substantial differences between the top and bottom schools in the Encinitas school district. Make sure you understand them or at the very least that your realtor does.

3 QUICK POINTS:

I would take the coolngreen house 10 out of 10 times over Jerrilyn.

Make sure you understand what is 1 block east of you there.

The owners of that house contacted me about a rental i had. My impression was they were not a real hardship case but rather unhappy with their poor investment. the short sale isnt a slam dunk on that IMO.

[sdrealtor]

Most of the schools are pretty good in the area but that is a generalization. there are very substantial differences between the top and bottom schools in the Encinitas school district. Make sure you understand them or at the very least that your realtor does.

3 QUICK POINTS:

I would take the coolngreen house 10 out of 10 times over Jerrilyn.

Make sure you understand what is 1 block east of you there.

The owners of that house contacted me about a rental i had. My impression was they were not a real hardship case but rather unhappy with their poor investment. the short sale isnt a slam dunk on that IMO.

[sdrealtor]

Most of the schools are pretty good in the area but that is a generalization. there are very substantial differences between the top and bottom schools in the Encinitas school district. Make sure you understand them or at the very least that your realtor does.

3 QUICK POINTS:

I would take the coolngreen house 10 out of 10 times over Jerrilyn.

Make sure you understand what is 1 block east of you there.

The owners of that house contacted me about a rental i had. My impression was they were not a real hardship case but rather unhappy with their poor investment. the short sale isnt a slam dunk on that IMO.

[sdrealtor]

Most of the schools are pretty good in the area but that is a generalization. there are very substantial differences between the top and bottom schools in the Encinitas school district. Make sure you understand them or at the very least that your realtor does.

3 QUICK POINTS:

I would take the coolngreen house 10 out of 10 times over Jerrilyn.

Make sure you understand what is 1 block east of you there.

The owners of that house contacted me about a rental i had. My impression was they were not a real hardship case but rather unhappy with their poor investment. the short sale isnt a slam dunk on that IMO.

[sdrealtor]

Most of the schools are pretty good in the area but that is a generalization. there are very substantial differences between the top and bottom schools in the Encinitas school district. Make sure you understand them or at the very least that your realtor does.

3 QUICK POINTS:

I would take the coolngreen house 10 out of 10 times over Jerrilyn.

Make sure you understand what is 1 block east of you there.

The owners of that house contacted me about a rental i had. My impression was they were not a real hardship case but rather unhappy with their poor investment. the short sale isnt a slam dunk on that IMO.

[SD Realtor]

Nicole good for you for running the numbers!!! It is actually pretty interesting to see the variations isn’t it? Okay some other stuff… Remember on the sale of the home you need to compensate another 5-6% to cover sales costs when you do sell it so don’t forget about that.

At any rate the spread sheet is a nice method that you can use to not necessarly predict the exact year of when you will break even again, but at least make a best and worst case scenario to give you a range.

Also one other thing… Once more if you really love the home, then NOT getting the home simply because you missed it by a few thousand dollars will really irk you. See Raptorducks posting… That said, I do believe that the market up there will continue to decline and that in the future you will have ample opportunity as more homes become distressed. I say this without having run any analysis of the home you are looking at.

Finally Jim and sdrealtor brought up very good points and both of them are very astute with regards to that particular submarket.

SD Realtor

[SD Realtor]

Nicole good for you for running the numbers!!! It is actually pretty interesting to see the variations isn’t it? Okay some other stuff… Remember on the sale of the home you need to compensate another 5-6% to cover sales costs when you do sell it so don’t forget about that.

At any rate the spread sheet is a nice method that you can use to not necessarly predict the exact year of when you will break even again, but at least make a best and worst case scenario to give you a range.

Also one other thing… Once more if you really love the home, then NOT getting the home simply because you missed it by a few thousand dollars will really irk you. See Raptorducks posting… That said, I do believe that the market up there will continue to decline and that in the future you will have ample opportunity as more homes become distressed. I say this without having run any analysis of the home you are looking at.

Finally Jim and sdrealtor brought up very good points and both of them are very astute with regards to that particular submarket.

SD Realtor

[SD Realtor]

Nicole good for you for running the numbers!!! It is actually pretty interesting to see the variations isn’t it? Okay some other stuff… Remember on the sale of the home you need to compensate another 5-6% to cover sales costs when you do sell it so don’t forget about that.

At any rate the spread sheet is a nice method that you can use to not necessarly predict the exact year of when you will break even again, but at least make a best and worst case scenario to give you a range.

Also one other thing… Once more if you really love the home, then NOT getting the home simply because you missed it by a few thousand dollars will really irk you. See Raptorducks posting… That said, I do believe that the market up there will continue to decline and that in the future you will have ample opportunity as more homes become distressed. I say this without having run any analysis of the home you are looking at.

Finally Jim and sdrealtor brought up very good points and both of them are very astute with regards to that particular submarket.

SD Realtor

[SD Realtor]

Nicole good for you for running the numbers!!! It is actually pretty interesting to see the variations isn’t it? Okay some other stuff… Remember on the sale of the home you need to compensate another 5-6% to cover sales costs when you do sell it so don’t forget about that.

At any rate the spread sheet is a nice method that you can use to not necessarly predict the exact year of when you will break even again, but at least make a best and worst case scenario to give you a range.

Also one other thing… Once more if you really love the home, then NOT getting the home simply because you missed it by a few thousand dollars will really irk you. See Raptorducks posting… That said, I do believe that the market up there will continue to decline and that in the future you will have ample opportunity as more homes become distressed. I say this without having run any analysis of the home you are looking at.

Finally Jim and sdrealtor brought up very good points and both of them are very astute with regards to that particular submarket.

SD Realtor

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