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Enorah.
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June 26, 2008 at 2:18 AM #228773June 26, 2008 at 3:03 AM #228602
jmrrobbie1
ParticipantZk – Could not find the specific house you mentioned (do you have a MLS) but did a quick search on RedFin in this area. To compare to the one you listed I plugged in 1.2 – 1.7 M with 4000+ sq ft … not that I would buy this type of home or in this area, just wanted to get a feel for the thought line on this thread. I am looking at putting down roots in N. San Diego myself and it is obvious than the whole region is in for a monumental blunt reset that has never been witnessed before in real estate.
Many are looking thru the lens of clouded perception. The S Calf housing market today represents the most overpriced and inflated prices ever in the history of a U.S. housing market. We are not talking of a small enclave of homes on a hillside overlooking the ocean in Newport Beach or a unique neighborhood in Santa Barbara but the collective living situation of millions of S Calf families. The CV region of San Diego is the perfect example … how many “sane” individuals would actually purchase one of these homes listed today…even 6-9 months from now? Whatever you want to call it; a premium $ for a location, sunshine tax, the Calf lifestyle – these days are behind us … a market economy always comes back to a “realistic” baseline –unfortunately, it has not even started for the larger portion of SD.
This region will bear the blunt of a market economy coming back to reality and it will take years to recover. I am certain some positive markers will be forthcoming during the crash with individuals jumping on the bandwagon – this still will not take away from the basic core fact that real-estate here is “overpriced” and has a long way to go reset to a price level that equates to what one is actually paying money for. .. a house, a home, a neighborhood, a way of life….
I do not think the popcorn has even been put into the oil yet.
June 26, 2008 at 3:03 AM #228720ParticipantZk – Could not find the specific house you mentioned (do you have a MLS) but did a quick search on RedFin in this area. To compare to the one you listed I plugged in 1.2 – 1.7 M with 4000+ sq ft … not that I would buy this type of home or in this area, just wanted to get a feel for the thought line on this thread. I am looking at putting down roots in N. San Diego myself and it is obvious than the whole region is in for a monumental blunt reset that has never been witnessed before in real estate.
Many are looking thru the lens of clouded perception. The S Calf housing market today represents the most overpriced and inflated prices ever in the history of a U.S. housing market. We are not talking of a small enclave of homes on a hillside overlooking the ocean in Newport Beach or a unique neighborhood in Santa Barbara but the collective living situation of millions of S Calf families. The CV region of San Diego is the perfect example … how many “sane” individuals would actually purchase one of these homes listed today…even 6-9 months from now? Whatever you want to call it; a premium $ for a location, sunshine tax, the Calf lifestyle – these days are behind us … a market economy always comes back to a “realistic” baseline –unfortunately, it has not even started for the larger portion of SD.
This region will bear the blunt of a market economy coming back to reality and it will take years to recover. I am certain some positive markers will be forthcoming during the crash with individuals jumping on the bandwagon – this still will not take away from the basic core fact that real-estate here is “overpriced” and has a long way to go reset to a price level that equates to what one is actually paying money for. .. a house, a home, a neighborhood, a way of life….
I do not think the popcorn has even been put into the oil yet.
June 26, 2008 at 3:03 AM #228727ParticipantZk – Could not find the specific house you mentioned (do you have a MLS) but did a quick search on RedFin in this area. To compare to the one you listed I plugged in 1.2 – 1.7 M with 4000+ sq ft … not that I would buy this type of home or in this area, just wanted to get a feel for the thought line on this thread. I am looking at putting down roots in N. San Diego myself and it is obvious than the whole region is in for a monumental blunt reset that has never been witnessed before in real estate.
Many are looking thru the lens of clouded perception. The S Calf housing market today represents the most overpriced and inflated prices ever in the history of a U.S. housing market. We are not talking of a small enclave of homes on a hillside overlooking the ocean in Newport Beach or a unique neighborhood in Santa Barbara but the collective living situation of millions of S Calf families. The CV region of San Diego is the perfect example … how many “sane” individuals would actually purchase one of these homes listed today…even 6-9 months from now? Whatever you want to call it; a premium $ for a location, sunshine tax, the Calf lifestyle – these days are behind us … a market economy always comes back to a “realistic” baseline –unfortunately, it has not even started for the larger portion of SD.
This region will bear the blunt of a market economy coming back to reality and it will take years to recover. I am certain some positive markers will be forthcoming during the crash with individuals jumping on the bandwagon – this still will not take away from the basic core fact that real-estate here is “overpriced” and has a long way to go reset to a price level that equates to what one is actually paying money for. .. a house, a home, a neighborhood, a way of life….
I do not think the popcorn has even been put into the oil yet.
June 26, 2008 at 3:03 AM #228761ParticipantZk – Could not find the specific house you mentioned (do you have a MLS) but did a quick search on RedFin in this area. To compare to the one you listed I plugged in 1.2 – 1.7 M with 4000+ sq ft … not that I would buy this type of home or in this area, just wanted to get a feel for the thought line on this thread. I am looking at putting down roots in N. San Diego myself and it is obvious than the whole region is in for a monumental blunt reset that has never been witnessed before in real estate.
Many are looking thru the lens of clouded perception. The S Calf housing market today represents the most overpriced and inflated prices ever in the history of a U.S. housing market. We are not talking of a small enclave of homes on a hillside overlooking the ocean in Newport Beach or a unique neighborhood in Santa Barbara but the collective living situation of millions of S Calf families. The CV region of San Diego is the perfect example … how many “sane” individuals would actually purchase one of these homes listed today…even 6-9 months from now? Whatever you want to call it; a premium $ for a location, sunshine tax, the Calf lifestyle – these days are behind us … a market economy always comes back to a “realistic” baseline –unfortunately, it has not even started for the larger portion of SD.
This region will bear the blunt of a market economy coming back to reality and it will take years to recover. I am certain some positive markers will be forthcoming during the crash with individuals jumping on the bandwagon – this still will not take away from the basic core fact that real-estate here is “overpriced” and has a long way to go reset to a price level that equates to what one is actually paying money for. .. a house, a home, a neighborhood, a way of life….
I do not think the popcorn has even been put into the oil yet.
June 26, 2008 at 3:03 AM #228778ParticipantZk – Could not find the specific house you mentioned (do you have a MLS) but did a quick search on RedFin in this area. To compare to the one you listed I plugged in 1.2 – 1.7 M with 4000+ sq ft … not that I would buy this type of home or in this area, just wanted to get a feel for the thought line on this thread. I am looking at putting down roots in N. San Diego myself and it is obvious than the whole region is in for a monumental blunt reset that has never been witnessed before in real estate.
Many are looking thru the lens of clouded perception. The S Calf housing market today represents the most overpriced and inflated prices ever in the history of a U.S. housing market. We are not talking of a small enclave of homes on a hillside overlooking the ocean in Newport Beach or a unique neighborhood in Santa Barbara but the collective living situation of millions of S Calf families. The CV region of San Diego is the perfect example … how many “sane” individuals would actually purchase one of these homes listed today…even 6-9 months from now? Whatever you want to call it; a premium $ for a location, sunshine tax, the Calf lifestyle – these days are behind us … a market economy always comes back to a “realistic” baseline –unfortunately, it has not even started for the larger portion of SD.
This region will bear the blunt of a market economy coming back to reality and it will take years to recover. I am certain some positive markers will be forthcoming during the crash with individuals jumping on the bandwagon – this still will not take away from the basic core fact that real-estate here is “overpriced” and has a long way to go reset to a price level that equates to what one is actually paying money for. .. a house, a home, a neighborhood, a way of life….
I do not think the popcorn has even been put into the oil yet.
June 26, 2008 at 7:06 AM #228613SD Realtor
ParticipantI don’t think there is any debate about the state of San Diego housing prices and how overpriced they got to be and still are. Without question there is a high probability of large declines in many of the more desireable areas. Will they go to 2002 prices? 1998 prices? who knows? Some areas are indeed already at 2002 prices.
Fixing up your rental property is orthogonal to the housing bubble. Many as witnessed on the post have had a very positive rental experience and fixed up the rental they live in. I would expect every situation to be different. We had one of those long talks with our previous landlord prior to moving in as well to our last rental about how he would never sell the home… Guess what he tried to sell the home 14 months after we moved in. Nothing is gauranteed. I would also submit that having a couple of toddlers and large dogs makes it a hell of alot different. Just wondering for those of you who have put all the time to add these improvements what the ages of your kids are, how many pets you have etc… My point here is that family dynamics have a large impact on your life and are of a much higher priority then a rental. I have no time or desire to put money into something I do not own. All I am doing is biding my time until I do buy. Most people who rent actually have no problems even with large families and young toddlers. It is different for everyone.
June 26, 2008 at 7:06 AM #228730ParticipantI don’t think there is any debate about the state of San Diego housing prices and how overpriced they got to be and still are. Without question there is a high probability of large declines in many of the more desireable areas. Will they go to 2002 prices? 1998 prices? who knows? Some areas are indeed already at 2002 prices.
Fixing up your rental property is orthogonal to the housing bubble. Many as witnessed on the post have had a very positive rental experience and fixed up the rental they live in. I would expect every situation to be different. We had one of those long talks with our previous landlord prior to moving in as well to our last rental about how he would never sell the home… Guess what he tried to sell the home 14 months after we moved in. Nothing is gauranteed. I would also submit that having a couple of toddlers and large dogs makes it a hell of alot different. Just wondering for those of you who have put all the time to add these improvements what the ages of your kids are, how many pets you have etc… My point here is that family dynamics have a large impact on your life and are of a much higher priority then a rental. I have no time or desire to put money into something I do not own. All I am doing is biding my time until I do buy. Most people who rent actually have no problems even with large families and young toddlers. It is different for everyone.
June 26, 2008 at 7:06 AM #228738ParticipantI don’t think there is any debate about the state of San Diego housing prices and how overpriced they got to be and still are. Without question there is a high probability of large declines in many of the more desireable areas. Will they go to 2002 prices? 1998 prices? who knows? Some areas are indeed already at 2002 prices.
Fixing up your rental property is orthogonal to the housing bubble. Many as witnessed on the post have had a very positive rental experience and fixed up the rental they live in. I would expect every situation to be different. We had one of those long talks with our previous landlord prior to moving in as well to our last rental about how he would never sell the home… Guess what he tried to sell the home 14 months after we moved in. Nothing is gauranteed. I would also submit that having a couple of toddlers and large dogs makes it a hell of alot different. Just wondering for those of you who have put all the time to add these improvements what the ages of your kids are, how many pets you have etc… My point here is that family dynamics have a large impact on your life and are of a much higher priority then a rental. I have no time or desire to put money into something I do not own. All I am doing is biding my time until I do buy. Most people who rent actually have no problems even with large families and young toddlers. It is different for everyone.
June 26, 2008 at 7:06 AM #228772ParticipantI don’t think there is any debate about the state of San Diego housing prices and how overpriced they got to be and still are. Without question there is a high probability of large declines in many of the more desireable areas. Will they go to 2002 prices? 1998 prices? who knows? Some areas are indeed already at 2002 prices.
Fixing up your rental property is orthogonal to the housing bubble. Many as witnessed on the post have had a very positive rental experience and fixed up the rental they live in. I would expect every situation to be different. We had one of those long talks with our previous landlord prior to moving in as well to our last rental about how he would never sell the home… Guess what he tried to sell the home 14 months after we moved in. Nothing is gauranteed. I would also submit that having a couple of toddlers and large dogs makes it a hell of alot different. Just wondering for those of you who have put all the time to add these improvements what the ages of your kids are, how many pets you have etc… My point here is that family dynamics have a large impact on your life and are of a much higher priority then a rental. I have no time or desire to put money into something I do not own. All I am doing is biding my time until I do buy. Most people who rent actually have no problems even with large families and young toddlers. It is different for everyone.
June 26, 2008 at 7:06 AM #228788ParticipantI don’t think there is any debate about the state of San Diego housing prices and how overpriced they got to be and still are. Without question there is a high probability of large declines in many of the more desireable areas. Will they go to 2002 prices? 1998 prices? who knows? Some areas are indeed already at 2002 prices.
Fixing up your rental property is orthogonal to the housing bubble. Many as witnessed on the post have had a very positive rental experience and fixed up the rental they live in. I would expect every situation to be different. We had one of those long talks with our previous landlord prior to moving in as well to our last rental about how he would never sell the home… Guess what he tried to sell the home 14 months after we moved in. Nothing is gauranteed. I would also submit that having a couple of toddlers and large dogs makes it a hell of alot different. Just wondering for those of you who have put all the time to add these improvements what the ages of your kids are, how many pets you have etc… My point here is that family dynamics have a large impact on your life and are of a much higher priority then a rental. I have no time or desire to put money into something I do not own. All I am doing is biding my time until I do buy. Most people who rent actually have no problems even with large families and young toddlers. It is different for everyone.
June 26, 2008 at 8:25 AM #228616zk
Participantjmrobbie1,
I hope you’re right. But, unfortunately for me (sitting on cash and waiting to buy in Carmel Valley), the question isn’t, “how many sane individuals would actually purchase one of these homes.” Sane, apparently, has nothing to do with it.
The S Calf housing market today represents the most overpriced and inflated prices ever in the history of a U.S. housing market.
I’d agree if you said, “the Socal housing market of two years ago represents…” Things have changed a lot since then. So I’d say the popcorn’s in the oil. But in CV, the heat’s pretty low. There are lots of people buying here at prices not far from the peak. The popping of low-priced kernels is increasing in frequency, though. So while I think the oil is starting to heat up, I do agree with you that, for Carmel Valley, the real pain is a ways off.
By the way, the house I’m talking about is 5427 Harvest Run Drive. Google that and you’ll see the house. I’m not sure why people put “54XX Harvest Run Drive when talking about houses, and I hope I haven’t made some kind of faux pas here. If somebody could explain to me what the deal is there, I’d appreciate it.
As far as fixing up your rental, I make minor repairs on mine all the time.
June 26, 2008 at 8:25 AM #228735Participantjmrobbie1,
I hope you’re right. But, unfortunately for me (sitting on cash and waiting to buy in Carmel Valley), the question isn’t, “how many sane individuals would actually purchase one of these homes.” Sane, apparently, has nothing to do with it.
The S Calf housing market today represents the most overpriced and inflated prices ever in the history of a U.S. housing market.
I’d agree if you said, “the Socal housing market of two years ago represents…” Things have changed a lot since then. So I’d say the popcorn’s in the oil. But in CV, the heat’s pretty low. There are lots of people buying here at prices not far from the peak. The popping of low-priced kernels is increasing in frequency, though. So while I think the oil is starting to heat up, I do agree with you that, for Carmel Valley, the real pain is a ways off.
By the way, the house I’m talking about is 5427 Harvest Run Drive. Google that and you’ll see the house. I’m not sure why people put “54XX Harvest Run Drive when talking about houses, and I hope I haven’t made some kind of faux pas here. If somebody could explain to me what the deal is there, I’d appreciate it.
As far as fixing up your rental, I make minor repairs on mine all the time.
June 26, 2008 at 8:25 AM #228742Participantjmrobbie1,
I hope you’re right. But, unfortunately for me (sitting on cash and waiting to buy in Carmel Valley), the question isn’t, “how many sane individuals would actually purchase one of these homes.” Sane, apparently, has nothing to do with it.
The S Calf housing market today represents the most overpriced and inflated prices ever in the history of a U.S. housing market.
I’d agree if you said, “the Socal housing market of two years ago represents…” Things have changed a lot since then. So I’d say the popcorn’s in the oil. But in CV, the heat’s pretty low. There are lots of people buying here at prices not far from the peak. The popping of low-priced kernels is increasing in frequency, though. So while I think the oil is starting to heat up, I do agree with you that, for Carmel Valley, the real pain is a ways off.
By the way, the house I’m talking about is 5427 Harvest Run Drive. Google that and you’ll see the house. I’m not sure why people put “54XX Harvest Run Drive when talking about houses, and I hope I haven’t made some kind of faux pas here. If somebody could explain to me what the deal is there, I’d appreciate it.
As far as fixing up your rental, I make minor repairs on mine all the time.
June 26, 2008 at 8:25 AM #228777Participantjmrobbie1,
I hope you’re right. But, unfortunately for me (sitting on cash and waiting to buy in Carmel Valley), the question isn’t, “how many sane individuals would actually purchase one of these homes.” Sane, apparently, has nothing to do with it.
The S Calf housing market today represents the most overpriced and inflated prices ever in the history of a U.S. housing market.
I’d agree if you said, “the Socal housing market of two years ago represents…” Things have changed a lot since then. So I’d say the popcorn’s in the oil. But in CV, the heat’s pretty low. There are lots of people buying here at prices not far from the peak. The popping of low-priced kernels is increasing in frequency, though. So while I think the oil is starting to heat up, I do agree with you that, for Carmel Valley, the real pain is a ways off.
By the way, the house I’m talking about is 5427 Harvest Run Drive. Google that and you’ll see the house. I’m not sure why people put “54XX Harvest Run Drive when talking about houses, and I hope I haven’t made some kind of faux pas here. If somebody could explain to me what the deal is there, I’d appreciate it.
As far as fixing up your rental, I make minor repairs on mine all the time.
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