short sale in encinitas ranch – good value?

[Ex-SD]

RatherOpinionated: You’re new to the forum so you’re not aware that I lived in SD for over 30 years. I saw the “perfect storm” forming in the real estate market in SoCal and sold my home and left the state in the spring of 2005. I bought a home in Greenville, South Carolina which has the lowest percentage of foreclosures of any market in the entire country. This area (along with many, many other areas of the country) did not get caught up in the frenzy of idiocy that took place in CA with housing prices and you can buy one hell of a nice home for $225-$250k and if you jump to the $325-$350 range, you can live exceptionally well. If prices fall enough, I’ll probably move back to San Diego but if they don’t, it’s no skin off my ass since I’m retired and set for life. However, my youngest son insists on staying in San Diego and makes $75k a year and can’t afford a decent SFR. To me, this is ludicrous because he can easily get employed here, make approximately the same amount of money and afford a nice home.
Thus, my interest in the housing market in SoCal.

[Ex-SD]

RatherOpinionated: You’re new to the forum so you’re not aware that I lived in SD for over 30 years. I saw the “perfect storm” forming in the real estate market in SoCal and sold my home and left the state in the spring of 2005. I bought a home in Greenville, South Carolina which has the lowest percentage of foreclosures of any market in the entire country. This area (along with many, many other areas of the country) did not get caught up in the frenzy of idiocy that took place in CA with housing prices and you can buy one hell of a nice home for $225-$250k and if you jump to the $325-$350 range, you can live exceptionally well. If prices fall enough, I’ll probably move back to San Diego but if they don’t, it’s no skin off my ass since I’m retired and set for life. However, my youngest son insists on staying in San Diego and makes $75k a year and can’t afford a decent SFR. To me, this is ludicrous because he can easily get employed here, make approximately the same amount of money and afford a nice home.
Thus, my interest in the housing market in SoCal.

[Ex-SD]

RatherOpinionated: You’re new to the forum so you’re not aware that I lived in SD for over 30 years. I saw the “perfect storm” forming in the real estate market in SoCal and sold my home and left the state in the spring of 2005. I bought a home in Greenville, South Carolina which has the lowest percentage of foreclosures of any market in the entire country. This area (along with many, many other areas of the country) did not get caught up in the frenzy of idiocy that took place in CA with housing prices and you can buy one hell of a nice home for $225-$250k and if you jump to the $325-$350 range, you can live exceptionally well. If prices fall enough, I’ll probably move back to San Diego but if they don’t, it’s no skin off my ass since I’m retired and set for life. However, my youngest son insists on staying in San Diego and makes $75k a year and can’t afford a decent SFR. To me, this is ludicrous because he can easily get employed here, make approximately the same amount of money and afford a nice home.
Thus, my interest in the housing market in SoCal.

[Ex-SD]

RatherOpinionated: You’re new to the forum so you’re not aware that I lived in SD for over 30 years. I saw the “perfect storm” forming in the real estate market in SoCal and sold my home and left the state in the spring of 2005. I bought a home in Greenville, South Carolina which has the lowest percentage of foreclosures of any market in the entire country. This area (along with many, many other areas of the country) did not get caught up in the frenzy of idiocy that took place in CA with housing prices and you can buy one hell of a nice home for $225-$250k and if you jump to the $325-$350 range, you can live exceptionally well. If prices fall enough, I’ll probably move back to San Diego but if they don’t, it’s no skin off my ass since I’m retired and set for life. However, my youngest son insists on staying in San Diego and makes $75k a year and can’t afford a decent SFR. To me, this is ludicrous because he can easily get employed here, make approximately the same amount of money and afford a nice home.
Thus, my interest in the housing market in SoCal.

[Ex-SD]

BTW: One of the people that I referred to who has a wad of money and would not invest at this time in the SoCal housing market used to own a luxury condo in the Meridian, a 5000 sq. ft. home in Palm Springs and a 4000 sq. ft home in La Jolla. (all fully paid for) He sold all three around the same time that I did and he also moved to another state. If you think I’m a bear when it comes to housing, you ain’t seen nothing yet. 🙂

[Ex-SD]

BTW: One of the people that I referred to who has a wad of money and would not invest at this time in the SoCal housing market used to own a luxury condo in the Meridian, a 5000 sq. ft. home in Palm Springs and a 4000 sq. ft home in La Jolla. (all fully paid for) He sold all three around the same time that I did and he also moved to another state. If you think I’m a bear when it comes to housing, you ain’t seen nothing yet. 🙂

[Ex-SD]

BTW: One of the people that I referred to who has a wad of money and would not invest at this time in the SoCal housing market used to own a luxury condo in the Meridian, a 5000 sq. ft. home in Palm Springs and a 4000 sq. ft home in La Jolla. (all fully paid for) He sold all three around the same time that I did and he also moved to another state. If you think I’m a bear when it comes to housing, you ain’t seen nothing yet. 🙂

[Ex-SD]

BTW: One of the people that I referred to who has a wad of money and would not invest at this time in the SoCal housing market used to own a luxury condo in the Meridian, a 5000 sq. ft. home in Palm Springs and a 4000 sq. ft home in La Jolla. (all fully paid for) He sold all three around the same time that I did and he also moved to another state. If you think I’m a bear when it comes to housing, you ain’t seen nothing yet. 🙂

[Ex-SD]

BTW: One of the people that I referred to who has a wad of money and would not invest at this time in the SoCal housing market used to own a luxury condo in the Meridian, a 5000 sq. ft. home in Palm Springs and a 4000 sq. ft home in La Jolla. (all fully paid for) He sold all three around the same time that I did and he also moved to another state. If you think I’m a bear when it comes to housing, you ain’t seen nothing yet. 🙂

[SD Realtor]

Ex-SD –

Look… this house is a perfect case study isn’t it? 5 offers on a site unseen home. That is not cash flowing…

Now would you touch it? No. Would your friends touch it? I guess not.

However 5 people have and the seller has not even submitted his paperwork yet!

I am or would not call you stupid at all. I am just saying that it is a speculative argument that is in the eye of the beholder. That your opinion and your friends opinions do not cover or speak for many many others. You see what I am saying?

This argument has nothing at all to do with Joe Blow. He can wait for the prices in Clairemont or San Marcos or Eastlake to fall to 350 or 400k. Not a problem there. I don’t believe the average Joe Blow lives in Encinitas. I think that is why my point is being widely missed.

It is actually my belief that depreciation cycles provide much more ample opportunity for the rich to get richer, then to level the playing field. Opportunities like this abound for people who have money parked. Again, I do not think it will prop up the market but I do think there will be an effect. Again, not all people use the same metric as you or others do. The home may not need to cash flow for them, the home may not need to have carrying costs that equal rent. Do you see what I am saying?

I think a general fault is that everyone measures opportunity by the same metric.

Look your argument about loans given out to anyone is THE EXACT reason for the bubble. Bubbles are not caused by well to do people buying nicer properties. They are caused more by people buying things the CANNOT afford. By fervent purchases and such. Bright people who are wealthy, who have money now parked most likely were long gone by 03 or 04. Sure some of them purchased in the bubble but that was not to flip or invest, that was most likely to live in or to act as a shelter or to give to kids or family members.

I guess my point is not being well made.

Look I understand your point and your thought process… Perhaps it will happen in that manner for all neighborhoods alike, same price drop, same window of opportunity for everyone. I don’t see that. I see narrower windows of opportunity that will vary by neighborhoods and different depreciations as well.

SD Realtor

ps – EX-SD I am not saying your opinion does not make sense about not purchasing until the median/income ratio falls in line because it does…. I would just be more refined… For instance you cannot use the median income of San Diego County for the purchase of a home in this particular subdivision. A more accurate measure would be to find the median income of the homeowners in the subdivision and do it that way.

sdr – That sheister totally gaffed the keller williams agent. Did you see the cancellation was made after only I think 31 days…

[SD Realtor]

Ex-SD –

Look… this house is a perfect case study isn’t it? 5 offers on a site unseen home. That is not cash flowing…

Now would you touch it? No. Would your friends touch it? I guess not.

However 5 people have and the seller has not even submitted his paperwork yet!

I am or would not call you stupid at all. I am just saying that it is a speculative argument that is in the eye of the beholder. That your opinion and your friends opinions do not cover or speak for many many others. You see what I am saying?

This argument has nothing at all to do with Joe Blow. He can wait for the prices in Clairemont or San Marcos or Eastlake to fall to 350 or 400k. Not a problem there. I don’t believe the average Joe Blow lives in Encinitas. I think that is why my point is being widely missed.

It is actually my belief that depreciation cycles provide much more ample opportunity for the rich to get richer, then to level the playing field. Opportunities like this abound for people who have money parked. Again, I do not think it will prop up the market but I do think there will be an effect. Again, not all people use the same metric as you or others do. The home may not need to cash flow for them, the home may not need to have carrying costs that equal rent. Do you see what I am saying?

I think a general fault is that everyone measures opportunity by the same metric.

Look your argument about loans given out to anyone is THE EXACT reason for the bubble. Bubbles are not caused by well to do people buying nicer properties. They are caused more by people buying things the CANNOT afford. By fervent purchases and such. Bright people who are wealthy, who have money now parked most likely were long gone by 03 or 04. Sure some of them purchased in the bubble but that was not to flip or invest, that was most likely to live in or to act as a shelter or to give to kids or family members.

I guess my point is not being well made.

Look I understand your point and your thought process… Perhaps it will happen in that manner for all neighborhoods alike, same price drop, same window of opportunity for everyone. I don’t see that. I see narrower windows of opportunity that will vary by neighborhoods and different depreciations as well.

SD Realtor

ps – EX-SD I am not saying your opinion does not make sense about not purchasing until the median/income ratio falls in line because it does…. I would just be more refined… For instance you cannot use the median income of San Diego County for the purchase of a home in this particular subdivision. A more accurate measure would be to find the median income of the homeowners in the subdivision and do it that way.

sdr – That sheister totally gaffed the keller williams agent. Did you see the cancellation was made after only I think 31 days…

[SD Realtor]

Ex-SD –

Look… this house is a perfect case study isn’t it? 5 offers on a site unseen home. That is not cash flowing…

Now would you touch it? No. Would your friends touch it? I guess not.

However 5 people have and the seller has not even submitted his paperwork yet!

I am or would not call you stupid at all. I am just saying that it is a speculative argument that is in the eye of the beholder. That your opinion and your friends opinions do not cover or speak for many many others. You see what I am saying?

This argument has nothing at all to do with Joe Blow. He can wait for the prices in Clairemont or San Marcos or Eastlake to fall to 350 or 400k. Not a problem there. I don’t believe the average Joe Blow lives in Encinitas. I think that is why my point is being widely missed.

It is actually my belief that depreciation cycles provide much more ample opportunity for the rich to get richer, then to level the playing field. Opportunities like this abound for people who have money parked. Again, I do not think it will prop up the market but I do think there will be an effect. Again, not all people use the same metric as you or others do. The home may not need to cash flow for them, the home may not need to have carrying costs that equal rent. Do you see what I am saying?

I think a general fault is that everyone measures opportunity by the same metric.

Look your argument about loans given out to anyone is THE EXACT reason for the bubble. Bubbles are not caused by well to do people buying nicer properties. They are caused more by people buying things the CANNOT afford. By fervent purchases and such. Bright people who are wealthy, who have money now parked most likely were long gone by 03 or 04. Sure some of them purchased in the bubble but that was not to flip or invest, that was most likely to live in or to act as a shelter or to give to kids or family members.

I guess my point is not being well made.

Look I understand your point and your thought process… Perhaps it will happen in that manner for all neighborhoods alike, same price drop, same window of opportunity for everyone. I don’t see that. I see narrower windows of opportunity that will vary by neighborhoods and different depreciations as well.

SD Realtor

ps – EX-SD I am not saying your opinion does not make sense about not purchasing until the median/income ratio falls in line because it does…. I would just be more refined… For instance you cannot use the median income of San Diego County for the purchase of a home in this particular subdivision. A more accurate measure would be to find the median income of the homeowners in the subdivision and do it that way.

sdr – That sheister totally gaffed the keller williams agent. Did you see the cancellation was made after only I think 31 days…

[SD Realtor]

Ex-SD –

Look… this house is a perfect case study isn’t it? 5 offers on a site unseen home. That is not cash flowing…

Now would you touch it? No. Would your friends touch it? I guess not.

However 5 people have and the seller has not even submitted his paperwork yet!

I am or would not call you stupid at all. I am just saying that it is a speculative argument that is in the eye of the beholder. That your opinion and your friends opinions do not cover or speak for many many others. You see what I am saying?

This argument has nothing at all to do with Joe Blow. He can wait for the prices in Clairemont or San Marcos or Eastlake to fall to 350 or 400k. Not a problem there. I don’t believe the average Joe Blow lives in Encinitas. I think that is why my point is being widely missed.

It is actually my belief that depreciation cycles provide much more ample opportunity for the rich to get richer, then to level the playing field. Opportunities like this abound for people who have money parked. Again, I do not think it will prop up the market but I do think there will be an effect. Again, not all people use the same metric as you or others do. The home may not need to cash flow for them, the home may not need to have carrying costs that equal rent. Do you see what I am saying?

I think a general fault is that everyone measures opportunity by the same metric.

Look your argument about loans given out to anyone is THE EXACT reason for the bubble. Bubbles are not caused by well to do people buying nicer properties. They are caused more by people buying things the CANNOT afford. By fervent purchases and such. Bright people who are wealthy, who have money now parked most likely were long gone by 03 or 04. Sure some of them purchased in the bubble but that was not to flip or invest, that was most likely to live in or to act as a shelter or to give to kids or family members.

I guess my point is not being well made.

Look I understand your point and your thought process… Perhaps it will happen in that manner for all neighborhoods alike, same price drop, same window of opportunity for everyone. I don’t see that. I see narrower windows of opportunity that will vary by neighborhoods and different depreciations as well.

SD Realtor

ps – EX-SD I am not saying your opinion does not make sense about not purchasing until the median/income ratio falls in line because it does…. I would just be more refined… For instance you cannot use the median income of San Diego County for the purchase of a home in this particular subdivision. A more accurate measure would be to find the median income of the homeowners in the subdivision and do it that way.

sdr – That sheister totally gaffed the keller williams agent. Did you see the cancellation was made after only I think 31 days…

[SD Realtor]

Ex-SD –

Look… this house is a perfect case study isn’t it? 5 offers on a site unseen home. That is not cash flowing…

Now would you touch it? No. Would your friends touch it? I guess not.

However 5 people have and the seller has not even submitted his paperwork yet!

I am or would not call you stupid at all. I am just saying that it is a speculative argument that is in the eye of the beholder. That your opinion and your friends opinions do not cover or speak for many many others. You see what I am saying?

This argument has nothing at all to do with Joe Blow. He can wait for the prices in Clairemont or San Marcos or Eastlake to fall to 350 or 400k. Not a problem there. I don’t believe the average Joe Blow lives in Encinitas. I think that is why my point is being widely missed.

It is actually my belief that depreciation cycles provide much more ample opportunity for the rich to get richer, then to level the playing field. Opportunities like this abound for people who have money parked. Again, I do not think it will prop up the market but I do think there will be an effect. Again, not all people use the same metric as you or others do. The home may not need to cash flow for them, the home may not need to have carrying costs that equal rent. Do you see what I am saying?

I think a general fault is that everyone measures opportunity by the same metric.

Look your argument about loans given out to anyone is THE EXACT reason for the bubble. Bubbles are not caused by well to do people buying nicer properties. They are caused more by people buying things the CANNOT afford. By fervent purchases and such. Bright people who are wealthy, who have money now parked most likely were long gone by 03 or 04. Sure some of them purchased in the bubble but that was not to flip or invest, that was most likely to live in or to act as a shelter or to give to kids or family members.

I guess my point is not being well made.

Look I understand your point and your thought process… Perhaps it will happen in that manner for all neighborhoods alike, same price drop, same window of opportunity for everyone. I don’t see that. I see narrower windows of opportunity that will vary by neighborhoods and different depreciations as well.

SD Realtor

ps – EX-SD I am not saying your opinion does not make sense about not purchasing until the median/income ratio falls in line because it does…. I would just be more refined… For instance you cannot use the median income of San Diego County for the purchase of a home in this particular subdivision. A more accurate measure would be to find the median income of the homeowners in the subdivision and do it that way.

sdr – That sheister totally gaffed the keller williams agent. Did you see the cancellation was made after only I think 31 days…

[Ex-SD]

SD Realtor: I also get your point and see your rationale. The only thing that I would point out to you is that during the last crash in CA, the operative word was that it would never hit the beach communities or the high end areas. Well, you and I both know what happened to LaJolla, Beverly Hills, Brentwood, North County, SD, etc, etc etc…………so although at this time, those areas are not getting wacked too hard at all………time will tell if it’s also going to also rain on their parades.

peace 🙂

[Author]

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