should I buy in temecula

[temeculaguy]

Oh geez, “OK Schools” it’s totally past my bedtime but that one hurts. I wish I had seen that earlier, I have a busy day tomorrow and have little time to go link all the API scores again, for the twnetienth time. The tem school district is alot of things, but “O.K.” isn’t one of them. I had to show my gas bill in may, in june and again last week in order for my kids to stay enrolled in our high school. My kids have their names on five houses in this zip code and registering for school is harder than getting into and out of communist countries even with a stack of utility bills. Dozens of kids from S.D. County, areas like fallbrook and valley center try to sneak into the local schools, especially theirs. I’m not sure how they get away with it but I spent the summer going to a few parties related to my kids sports and activities, none of them were within the boundaries. I guess people drive 20 minutes every day to go to “O.K.” schools. Find me a place with 800 and 900 api’s from elementary through high school in the majority of the schools that isnt in carlsbad, poway or encinitas districts and I’ll let this go, but until then, no deal.

here are the links

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3375192

run yor own

http://api.cde.ca.gov/reports/page2.asp?subject=API&level=District&submit1=submit

hit the list of schools

oh here is carlsbad

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3773551

my kids hs beats it, so did their middle and elem and that is the one place i put on a pedestal.

heres san diego

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3768338

see those 1’s, 2’s 3’s, have fun with that.

9’s or 10’s, A’s, nothing but 800 and 900 except for the 62 kids in a continuation school and we are going to call that “o.k.” That’s bullshit, it’s the highest peforming school district in riv and san berandino counties, it would give the top notch sd district a run for its money, maybe placing in the top 5%, poway is almost unbeatable, they deserve props. But i refuse to accept “O.K.”

Bring the data baby, I did.

[Ren]

[quote=paramount]My total mortgage is ~ $1600/month because I am in fact conservative, and very affordable as a % of my income. My taxes are barely over 1%.

I bought early 2003, were those bubble years? I never even knew what a RE bubble was until around 2005~2006. The $1600 = PITI.

I bought for 270k and put 30k down (of my own hard earned dollars), I have been making payments (never even one day late) for almost 8 years now. I have nothing to show for it, nothing. It’s all gone. I never expected to ‘make’ money on my house, but I never expected it to be a liability either.

I told my wife this past weekend if there is some sort of August surprise and we are not offered any relief that we should positively walk.

It was my intention to move to San Diego this summer, closer to my office. This still may happen, it’s just difficult to do particularly with kids.[/quote]

This whole time I thought you had a major problem, but it’s more regret than a current financial bind. After the tax benefit, you’re actually close to break-even, maybe slightly positive depending on the neighborhood, not counting maintenance. If you ditch it now, you’ll have nothing to show for the last 8 years. Instead, save your credit, rent the place out, and rent in SD. You’ll need to cover some maintenance out of pocket, but inflation will work in your favor and it will cash flow over time. In 22 years you’ll have a paid-for ATM spitting out roughly $1.5k every month (factoring in inflation guesstimate, tax, high maintenance costs of an older property, etc.).

Maybe you did buy at a high price – so let someone else pay it, at least until the next cycle peak. The very last thing I would do is walk away from this now.

[Ren]

[quote=paramount]My total mortgage is ~ $1600/month because I am in fact conservative, and very affordable as a % of my income. My taxes are barely over 1%.

I bought early 2003, were those bubble years? I never even knew what a RE bubble was until around 2005~2006. The $1600 = PITI.

I bought for 270k and put 30k down (of my own hard earned dollars), I have been making payments (never even one day late) for almost 8 years now. I have nothing to show for it, nothing. It’s all gone. I never expected to ‘make’ money on my house, but I never expected it to be a liability either.

I told my wife this past weekend if there is some sort of August surprise and we are not offered any relief that we should positively walk.

It was my intention to move to San Diego this summer, closer to my office. This still may happen, it’s just difficult to do particularly with kids.[/quote]

This whole time I thought you had a major problem, but it’s more regret than a current financial bind. After the tax benefit, you’re actually close to break-even, maybe slightly positive depending on the neighborhood, not counting maintenance. If you ditch it now, you’ll have nothing to show for the last 8 years. Instead, save your credit, rent the place out, and rent in SD. You’ll need to cover some maintenance out of pocket, but inflation will work in your favor and it will cash flow over time. In 22 years you’ll have a paid-for ATM spitting out roughly $1.5k every month (factoring in inflation guesstimate, tax, high maintenance costs of an older property, etc.).

Maybe you did buy at a high price – so let someone else pay it, at least until the next cycle peak. The very last thing I would do is walk away from this now.

[Ren]

[quote=paramount]My total mortgage is ~ $1600/month because I am in fact conservative, and very affordable as a % of my income. My taxes are barely over 1%.

I bought early 2003, were those bubble years? I never even knew what a RE bubble was until around 2005~2006. The $1600 = PITI.

I bought for 270k and put 30k down (of my own hard earned dollars), I have been making payments (never even one day late) for almost 8 years now. I have nothing to show for it, nothing. It’s all gone. I never expected to ‘make’ money on my house, but I never expected it to be a liability either.

I told my wife this past weekend if there is some sort of August surprise and we are not offered any relief that we should positively walk.

It was my intention to move to San Diego this summer, closer to my office. This still may happen, it’s just difficult to do particularly with kids.[/quote]

This whole time I thought you had a major problem, but it’s more regret than a current financial bind. After the tax benefit, you’re actually close to break-even, maybe slightly positive depending on the neighborhood, not counting maintenance. If you ditch it now, you’ll have nothing to show for the last 8 years. Instead, save your credit, rent the place out, and rent in SD. You’ll need to cover some maintenance out of pocket, but inflation will work in your favor and it will cash flow over time. In 22 years you’ll have a paid-for ATM spitting out roughly $1.5k every month (factoring in inflation guesstimate, tax, high maintenance costs of an older property, etc.).

Maybe you did buy at a high price – so let someone else pay it, at least until the next cycle peak. The very last thing I would do is walk away from this now.

[Ren]

[quote=paramount]My total mortgage is ~ $1600/month because I am in fact conservative, and very affordable as a % of my income. My taxes are barely over 1%.

I bought early 2003, were those bubble years? I never even knew what a RE bubble was until around 2005~2006. The $1600 = PITI.

I bought for 270k and put 30k down (of my own hard earned dollars), I have been making payments (never even one day late) for almost 8 years now. I have nothing to show for it, nothing. It’s all gone. I never expected to ‘make’ money on my house, but I never expected it to be a liability either.

I told my wife this past weekend if there is some sort of August surprise and we are not offered any relief that we should positively walk.

It was my intention to move to San Diego this summer, closer to my office. This still may happen, it’s just difficult to do particularly with kids.[/quote]

This whole time I thought you had a major problem, but it’s more regret than a current financial bind. After the tax benefit, you’re actually close to break-even, maybe slightly positive depending on the neighborhood, not counting maintenance. If you ditch it now, you’ll have nothing to show for the last 8 years. Instead, save your credit, rent the place out, and rent in SD. You’ll need to cover some maintenance out of pocket, but inflation will work in your favor and it will cash flow over time. In 22 years you’ll have a paid-for ATM spitting out roughly $1.5k every month (factoring in inflation guesstimate, tax, high maintenance costs of an older property, etc.).

Maybe you did buy at a high price – so let someone else pay it, at least until the next cycle peak. The very last thing I would do is walk away from this now.

[Ren]

[quote=paramount]My total mortgage is ~ $1600/month because I am in fact conservative, and very affordable as a % of my income. My taxes are barely over 1%.

I bought early 2003, were those bubble years? I never even knew what a RE bubble was until around 2005~2006. The $1600 = PITI.

I bought for 270k and put 30k down (of my own hard earned dollars), I have been making payments (never even one day late) for almost 8 years now. I have nothing to show for it, nothing. It’s all gone. I never expected to ‘make’ money on my house, but I never expected it to be a liability either.

I told my wife this past weekend if there is some sort of August surprise and we are not offered any relief that we should positively walk.

It was my intention to move to San Diego this summer, closer to my office. This still may happen, it’s just difficult to do particularly with kids.[/quote]

This whole time I thought you had a major problem, but it’s more regret than a current financial bind. After the tax benefit, you’re actually close to break-even, maybe slightly positive depending on the neighborhood, not counting maintenance. If you ditch it now, you’ll have nothing to show for the last 8 years. Instead, save your credit, rent the place out, and rent in SD. You’ll need to cover some maintenance out of pocket, but inflation will work in your favor and it will cash flow over time. In 22 years you’ll have a paid-for ATM spitting out roughly $1.5k every month (factoring in inflation guesstimate, tax, high maintenance costs of an older property, etc.).

Maybe you did buy at a high price – so let someone else pay it, at least until the next cycle peak. The very last thing I would do is walk away from this now.

[carlsbadworker]

[quote=temeculaguy]Oh geez, “OK Schools” it’s totally past my bedtime but that one hurts.[/quote]

Well. That just depends on your comparison. 🙂 For us, we will probably go to carlsbad, poway or encinitas districts (most likely poway), if we are doing financially well when our kids go to high school. I have no issues with Temecula’s elementary and middle school. But its highshcool is really not as good as the ones in Poway. Look at how Carmel Valley’s housing market is holding up, then you know what is “Good Schools”. It’s not just 20 minutes drive. It’s parents willing to sink their retirement savings into a hole. That is “Good Schools” to me.

[carlsbadworker]

[quote=temeculaguy]Oh geez, “OK Schools” it’s totally past my bedtime but that one hurts.[/quote]

Well. That just depends on your comparison. 🙂 For us, we will probably go to carlsbad, poway or encinitas districts (most likely poway), if we are doing financially well when our kids go to high school. I have no issues with Temecula’s elementary and middle school. But its highshcool is really not as good as the ones in Poway. Look at how Carmel Valley’s housing market is holding up, then you know what is “Good Schools”. It’s not just 20 minutes drive. It’s parents willing to sink their retirement savings into a hole. That is “Good Schools” to me.

[carlsbadworker]

[quote=temeculaguy]Oh geez, “OK Schools” it’s totally past my bedtime but that one hurts.[/quote]

Well. That just depends on your comparison. 🙂 For us, we will probably go to carlsbad, poway or encinitas districts (most likely poway), if we are doing financially well when our kids go to high school. I have no issues with Temecula’s elementary and middle school. But its highshcool is really not as good as the ones in Poway. Look at how Carmel Valley’s housing market is holding up, then you know what is “Good Schools”. It’s not just 20 minutes drive. It’s parents willing to sink their retirement savings into a hole. That is “Good Schools” to me.

[carlsbadworker]

[quote=temeculaguy]Oh geez, “OK Schools” it’s totally past my bedtime but that one hurts.[/quote]

Well. That just depends on your comparison. 🙂 For us, we will probably go to carlsbad, poway or encinitas districts (most likely poway), if we are doing financially well when our kids go to high school. I have no issues with Temecula’s elementary and middle school. But its highshcool is really not as good as the ones in Poway. Look at how Carmel Valley’s housing market is holding up, then you know what is “Good Schools”. It’s not just 20 minutes drive. It’s parents willing to sink their retirement savings into a hole. That is “Good Schools” to me.

[carlsbadworker]

[quote=temeculaguy]Oh geez, “OK Schools” it’s totally past my bedtime but that one hurts.[/quote]

Well. That just depends on your comparison. 🙂 For us, we will probably go to carlsbad, poway or encinitas districts (most likely poway), if we are doing financially well when our kids go to high school. I have no issues with Temecula’s elementary and middle school. But its highshcool is really not as good as the ones in Poway. Look at how Carmel Valley’s housing market is holding up, then you know what is “Good Schools”. It’s not just 20 minutes drive. It’s parents willing to sink their retirement savings into a hole. That is “Good Schools” to me.

[bearishgurl]

[quote=Ren]Maybe you did buy at a high price – so let someone else pay it, at least until the next cycle peak. The very last thing I would do is walk away from this now.[/quote]

Ren, I forgot to add last night that Paramount only put 10% down so he is most likely paying at least $180 mo. PMI premium in his “PITI.” Not sure if this is also tax deductible also after putting the property into rental service.

It may be a very l-o-o-o-ong time before he is able to get rid of the PMI.

[bearishgurl]

[quote=Ren]Maybe you did buy at a high price – so let someone else pay it, at least until the next cycle peak. The very last thing I would do is walk away from this now.[/quote]

Ren, I forgot to add last night that Paramount only put 10% down so he is most likely paying at least $180 mo. PMI premium in his “PITI.” Not sure if this is also tax deductible also after putting the property into rental service.

It may be a very l-o-o-o-ong time before he is able to get rid of the PMI.

[bearishgurl]

[quote=Ren]Maybe you did buy at a high price – so let someone else pay it, at least until the next cycle peak. The very last thing I would do is walk away from this now.[/quote]

Ren, I forgot to add last night that Paramount only put 10% down so he is most likely paying at least $180 mo. PMI premium in his “PITI.” Not sure if this is also tax deductible also after putting the property into rental service.

It may be a very l-o-o-o-ong time before he is able to get rid of the PMI.

[bearishgurl]

[quote=Ren]Maybe you did buy at a high price – so let someone else pay it, at least until the next cycle peak. The very last thing I would do is walk away from this now.[/quote]

Ren, I forgot to add last night that Paramount only put 10% down so he is most likely paying at least $180 mo. PMI premium in his “PITI.” Not sure if this is also tax deductible also after putting the property into rental service.

It may be a very l-o-o-o-ong time before he is able to get rid of the PMI.

[Author]

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