Spring Buying Season

[donaldduckmoore]

Who, as an investor, would put 20% down for an investment property?

[donaldduckmoore]

gn, can you elaborate this “the rental supply is artificially low”? People want to hold on to their rental properties because they want to jack up the rent? Don’t get it?

[donaldduckmoore]

gn, can you elaborate this “the rental supply is artificially low”? People want to hold on to their rental properties because they want to jack up the rent? Don’t get it?

[donaldduckmoore]

gn, can you elaborate this “the rental supply is artificially low”? People want to hold on to their rental properties because they want to jack up the rent? Don’t get it?

[donaldduckmoore]

gn, can you elaborate this “the rental supply is artificially low”? People want to hold on to their rental properties because they want to jack up the rent? Don’t get it?

[donaldduckmoore]

gn, can you elaborate this “the rental supply is artificially low”? People want to hold on to their rental properties because they want to jack up the rent? Don’t get it?

[NotCranky]

Matt,

You are confusing a sub-market, distressed fixers for investors and certain strategies that I am talking about, with the whole market. Apparently you assume that t the local and national economies be healthy before people buu real estate too???

Mira Mesa looks very interesting, especially in light of Asiannauticas comments. I am not saying everybody go buy today.

I am talking about making money in real estate not calling the bottom and buying a “trophy” house or even a “nice” house. That market stinks(except maybe in Temecula) but even in that there are occasionally good deals.I posted about a successful flip in Chula Vista on a Chula Vista thread. Somebody else just posted what appears to be a smoking REO deal on a house in Point Loma.

“For some reason, I thought you were more bearish on housing…. and that you predicted a longer recovery. … anyways..”

Yes, I think I have been bearish and honest(sometimes too honest). Every house and every deal on every block is not created equal. Guts,sacrifice, enterprise and sweat equity will find room in this market to prosper before we read about the bottom here or anywhere else and long before I call it or even predict it.Even some people who go “upside down” are going to make more money going forward than people who are compulsively negative and lacking in knowlege about real estate investing.

[NotCranky]

Matt,

You are confusing a sub-market, distressed fixers for investors and certain strategies that I am talking about, with the whole market. Apparently you assume that t the local and national economies be healthy before people buu real estate too???

Mira Mesa looks very interesting, especially in light of Asiannauticas comments. I am not saying everybody go buy today.

I am talking about making money in real estate not calling the bottom and buying a “trophy” house or even a “nice” house. That market stinks(except maybe in Temecula) but even in that there are occasionally good deals.I posted about a successful flip in Chula Vista on a Chula Vista thread. Somebody else just posted what appears to be a smoking REO deal on a house in Point Loma.

“For some reason, I thought you were more bearish on housing…. and that you predicted a longer recovery. … anyways..”

Yes, I think I have been bearish and honest(sometimes too honest). Every house and every deal on every block is not created equal. Guts,sacrifice, enterprise and sweat equity will find room in this market to prosper before we read about the bottom here or anywhere else and long before I call it or even predict it.Even some people who go “upside down” are going to make more money going forward than people who are compulsively negative and lacking in knowlege about real estate investing.

[NotCranky]

Matt,

You are confusing a sub-market, distressed fixers for investors and certain strategies that I am talking about, with the whole market. Apparently you assume that t the local and national economies be healthy before people buu real estate too???

Mira Mesa looks very interesting, especially in light of Asiannauticas comments. I am not saying everybody go buy today.

I am talking about making money in real estate not calling the bottom and buying a “trophy” house or even a “nice” house. That market stinks(except maybe in Temecula) but even in that there are occasionally good deals.I posted about a successful flip in Chula Vista on a Chula Vista thread. Somebody else just posted what appears to be a smoking REO deal on a house in Point Loma.

“For some reason, I thought you were more bearish on housing…. and that you predicted a longer recovery. … anyways..”

Yes, I think I have been bearish and honest(sometimes too honest). Every house and every deal on every block is not created equal. Guts,sacrifice, enterprise and sweat equity will find room in this market to prosper before we read about the bottom here or anywhere else and long before I call it or even predict it.Even some people who go “upside down” are going to make more money going forward than people who are compulsively negative and lacking in knowlege about real estate investing.

[NotCranky]

Matt,

You are confusing a sub-market, distressed fixers for investors and certain strategies that I am talking about, with the whole market. Apparently you assume that t the local and national economies be healthy before people buu real estate too???

Mira Mesa looks very interesting, especially in light of Asiannauticas comments. I am not saying everybody go buy today.

I am talking about making money in real estate not calling the bottom and buying a “trophy” house or even a “nice” house. That market stinks(except maybe in Temecula) but even in that there are occasionally good deals.I posted about a successful flip in Chula Vista on a Chula Vista thread. Somebody else just posted what appears to be a smoking REO deal on a house in Point Loma.

“For some reason, I thought you were more bearish on housing…. and that you predicted a longer recovery. … anyways..”

Yes, I think I have been bearish and honest(sometimes too honest). Every house and every deal on every block is not created equal. Guts,sacrifice, enterprise and sweat equity will find room in this market to prosper before we read about the bottom here or anywhere else and long before I call it or even predict it.Even some people who go “upside down” are going to make more money going forward than people who are compulsively negative and lacking in knowlege about real estate investing.

[NotCranky]

Matt,

You are confusing a sub-market, distressed fixers for investors and certain strategies that I am talking about, with the whole market. Apparently you assume that t the local and national economies be healthy before people buu real estate too???

Mira Mesa looks very interesting, especially in light of Asiannauticas comments. I am not saying everybody go buy today.

I am talking about making money in real estate not calling the bottom and buying a “trophy” house or even a “nice” house. That market stinks(except maybe in Temecula) but even in that there are occasionally good deals.I posted about a successful flip in Chula Vista on a Chula Vista thread. Somebody else just posted what appears to be a smoking REO deal on a house in Point Loma.

“For some reason, I thought you were more bearish on housing…. and that you predicted a longer recovery. … anyways..”

Yes, I think I have been bearish and honest(sometimes too honest). Every house and every deal on every block is not created equal. Guts,sacrifice, enterprise and sweat equity will find room in this market to prosper before we read about the bottom here or anywhere else and long before I call it or even predict it.Even some people who go “upside down” are going to make more money going forward than people who are compulsively negative and lacking in knowlege about real estate investing.

[sdnerd]

The rate in which MM has been impacted has been quite significant. Far quicker then I originally anticipated.

I think it still has a bit to fall, but I highly doubt there will be another 30% across the board fall in MM. Perhaps a long flat period.

MM has some nice areas, and some bad parts, but as some have pointed out it has a good location. You can get to all the high paying tech jobs, to numerous hospital locations, RB, PQ, etc quite quickly. I think rents will hold short term and increase long term.

Investors aside, a decent 3/2 in a good location like MM for $300k is a nice starter home for a couple where each person is making $50-60k. Especially as it pencils out to rents.

I expect to see a lot of people who bought in Temecula and commute to this general area moving back down to MM, or at least renting there.

The comment that often gets tossed around “Everyone who could buy a home the last few years has” is about as absurd as “They aren’t making any more land.”

We are nearly 8 years into this; I assure you 8 years ago the amount of people priced out of the market is quite substantial. New graduates, first time job, etc. A young couple where each person makes $50k, over the course of 8 years – that’s a measly $7,500 savings a year for that 20% down. And as long as one person remained employed you could cover the monthly expenses.

Just my .02; I wouldn’t bet on 3/2’s in MM at $200k though.

[sdnerd]

The rate in which MM has been impacted has been quite significant. Far quicker then I originally anticipated.

I think it still has a bit to fall, but I highly doubt there will be another 30% across the board fall in MM. Perhaps a long flat period.

MM has some nice areas, and some bad parts, but as some have pointed out it has a good location. You can get to all the high paying tech jobs, to numerous hospital locations, RB, PQ, etc quite quickly. I think rents will hold short term and increase long term.

Investors aside, a decent 3/2 in a good location like MM for $300k is a nice starter home for a couple where each person is making $50-60k. Especially as it pencils out to rents.

I expect to see a lot of people who bought in Temecula and commute to this general area moving back down to MM, or at least renting there.

The comment that often gets tossed around “Everyone who could buy a home the last few years has” is about as absurd as “They aren’t making any more land.”

We are nearly 8 years into this; I assure you 8 years ago the amount of people priced out of the market is quite substantial. New graduates, first time job, etc. A young couple where each person makes $50k, over the course of 8 years – that’s a measly $7,500 savings a year for that 20% down. And as long as one person remained employed you could cover the monthly expenses.

Just my .02; I wouldn’t bet on 3/2’s in MM at $200k though.

[sdnerd]

The rate in which MM has been impacted has been quite significant. Far quicker then I originally anticipated.

I think it still has a bit to fall, but I highly doubt there will be another 30% across the board fall in MM. Perhaps a long flat period.

MM has some nice areas, and some bad parts, but as some have pointed out it has a good location. You can get to all the high paying tech jobs, to numerous hospital locations, RB, PQ, etc quite quickly. I think rents will hold short term and increase long term.

Investors aside, a decent 3/2 in a good location like MM for $300k is a nice starter home for a couple where each person is making $50-60k. Especially as it pencils out to rents.

I expect to see a lot of people who bought in Temecula and commute to this general area moving back down to MM, or at least renting there.

The comment that often gets tossed around “Everyone who could buy a home the last few years has” is about as absurd as “They aren’t making any more land.”

We are nearly 8 years into this; I assure you 8 years ago the amount of people priced out of the market is quite substantial. New graduates, first time job, etc. A young couple where each person makes $50k, over the course of 8 years – that’s a measly $7,500 savings a year for that 20% down. And as long as one person remained employed you could cover the monthly expenses.

Just my .02; I wouldn’t bet on 3/2’s in MM at $200k though.

[sdnerd]

The rate in which MM has been impacted has been quite significant. Far quicker then I originally anticipated.

I think it still has a bit to fall, but I highly doubt there will be another 30% across the board fall in MM. Perhaps a long flat period.

MM has some nice areas, and some bad parts, but as some have pointed out it has a good location. You can get to all the high paying tech jobs, to numerous hospital locations, RB, PQ, etc quite quickly. I think rents will hold short term and increase long term.

Investors aside, a decent 3/2 in a good location like MM for $300k is a nice starter home for a couple where each person is making $50-60k. Especially as it pencils out to rents.

I expect to see a lot of people who bought in Temecula and commute to this general area moving back down to MM, or at least renting there.

The comment that often gets tossed around “Everyone who could buy a home the last few years has” is about as absurd as “They aren’t making any more land.”

We are nearly 8 years into this; I assure you 8 years ago the amount of people priced out of the market is quite substantial. New graduates, first time job, etc. A young couple where each person makes $50k, over the course of 8 years – that’s a measly $7,500 savings a year for that 20% down. And as long as one person remained employed you could cover the monthly expenses.

Just my .02; I wouldn’t bet on 3/2’s in MM at $200k though.

[Author]

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