Summertime

[CA renter]

We made the following improvements to our rental:

-installed new ceiling fans in all bedrooms and family room

-upgraded (to code) electrical wiring in garage (safety thing) and added exterior light which should have been there all along (also to code now)

-added three, exterior security lights

-added additional phone lines and new cable outlets

-planted grass (seed & LOTS of new dirt and fertilizer) and flowers in front and back yards

-hundreds of dollars trying to maintain sprinkler system that really needs to be completely replaced — LL said he’d replace soon…

-paid $2,000 toward new shower in MBR, and got to pick out all the tiles, grout, door, fixtures, etc.

-miscellaneous odds and ends required to maintain a house
*****************

In return for all this, we don’t get rent increases, and our LL knows we’re here for a long time (over four years already), so pretty much let’s us do what we want here. They are long-time LLs (original owners in an older n’hood), so we don’t have to worry about being foreclosed on or having them sell the house — we discussed all this before moving in.

IOW, “home is where you rest your head.” If you like where you live, and plan to stay there for a while, a LL would be stupid not to let a good, long-term tenant customize things a bit. Remember, it’s your HOME, whether you rent or buy. Don’t be afraid to make it a more pleasant experience while waiting out this g*d-forsaken housing bubble.

Just MHO. 🙂

[jmrrobbie1]

Zk – 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.

http://www.redfin.com/search#pt=6&min_price=1250000&max_price=1750000&num_beds=4&min_listing_approx_size=4000&v=3&lat=32.94544540434527&long=-117.20789909362794&zoomLevel=13&region_id=371&region_type=1&market=socal

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.

[jmrrobbie1]

Zk – 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.

http://www.redfin.com/search#pt=6&min_price=1250000&max_price=1750000&num_beds=4&min_listing_approx_size=4000&v=3&lat=32.94544540434527&long=-117.20789909362794&zoomLevel=13&region_id=371&region_type=1&market=socal

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.

[jmrrobbie1]

Zk – 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.

http://www.redfin.com/search#pt=6&min_price=1250000&max_price=1750000&num_beds=4&min_listing_approx_size=4000&v=3&lat=32.94544540434527&long=-117.20789909362794&zoomLevel=13&region_id=371&region_type=1&market=socal

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.

[jmrrobbie1]

Zk – 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.

http://www.redfin.com/search#pt=6&min_price=1250000&max_price=1750000&num_beds=4&min_listing_approx_size=4000&v=3&lat=32.94544540434527&long=-117.20789909362794&zoomLevel=13&region_id=371&region_type=1&market=socal

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.

[jmrrobbie1]

Zk – 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.

http://www.redfin.com/search#pt=6&min_price=1250000&max_price=1750000&num_beds=4&min_listing_approx_size=4000&v=3&lat=32.94544540434527&long=-117.20789909362794&zoomLevel=13&region_id=371&region_type=1&market=socal

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.

[SD Realtor]

I 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.

[SD Realtor]

I 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.

[SD Realtor]

I 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.

[SD Realtor]

I 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.

[SD Realtor]

I 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.

[zk]

jmrobbie1,

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.

[zk]

jmrobbie1,

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.

[zk]

jmrobbie1,

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.

[zk]

jmrobbie1,

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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