Tales of an RSF owner

[raptorduck]

Thought I would check in after living down here a bit. I have now been in my new house in Fairbanks Ranch for just over 2 weeks and in the area 1.5 months. Here are a few observations.

• My Bay Area commute very early in the morning: 30 min
• My Bay Area commute in the middle of rush hour: 1-1.5 hrs.
• My SD commute very early in the morning: 10 min.
• My SD commute in the middle of rush hour: 12 min.
• Housing prices may be 1/2 here what they are in the Bay Area, but consumer prices are not. In fact, prices for food, gas, car washes, and haircuts are all higher, quite a bit higher in CV/RSF than in San Jose/Penninsula in the Bay Area.
• The QOL down here, well, it is much higher IMHO. I feel like I am on a vacation when I am not at work (like even during lunch). Much more laid back down here.
• Fairbanks Ranch weather is perfect. When we stayed in Del Mar for a month, 80% of the time we were in the fog. But when Del Mar is in the fog, FBR has blue skies. Close enough to the beach to enjoy it, far enough to enjoy the sun, but not too far so as to get too hot. Just right.
• A few homes I had looked at finally sold even lower than I thought they would, including a forclosure that turned me down and ultimately sold for $400k less than I offered and a flipper that sold for $200k less than the flippers paid for it (and they invested $350k after that), and $400k less than I was considering.
• After looking at hundreds of homes in the Bay Area and RSF I realize something (generally anyway) about homes that stay on the market a long time: Here they eventually lower the price until it finds a buyer sweet spot. In the Bay Area, they don’t lower the price and are happy to let the house stay on the market for 3 yrs.
• If you bought a “project home” and plan to remodel, double your initial budget.
• Never understimate the ability of a toddler NOT to tire of going to the beach.

[bsrsharma]

Bay area commute times may also improve as the economy thins the herd. I have read that there is less venture money flowing in to the startups and IPO exits are practically non-existent. I think Bay area may have a larger proportion of employment based floating population that may migrate out when money dries up.

Looking at those foreclosure/flipper home prices, have you felt any buyers remorse?

[bsrsharma]

Bay area commute times may also improve as the economy thins the herd. I have read that there is less venture money flowing in to the startups and IPO exits are practically non-existent. I think Bay area may have a larger proportion of employment based floating population that may migrate out when money dries up.

Looking at those foreclosure/flipper home prices, have you felt any buyers remorse?

[bsrsharma]

Bay area commute times may also improve as the economy thins the herd. I have read that there is less venture money flowing in to the startups and IPO exits are practically non-existent. I think Bay area may have a larger proportion of employment based floating population that may migrate out when money dries up.

Looking at those foreclosure/flipper home prices, have you felt any buyers remorse?

[bsrsharma]

Bay area commute times may also improve as the economy thins the herd. I have read that there is less venture money flowing in to the startups and IPO exits are practically non-existent. I think Bay area may have a larger proportion of employment based floating population that may migrate out when money dries up.

Looking at those foreclosure/flipper home prices, have you felt any buyers remorse?

[bsrsharma]

Bay area commute times may also improve as the economy thins the herd. I have read that there is less venture money flowing in to the startups and IPO exits are practically non-existent. I think Bay area may have a larger proportion of employment based floating population that may migrate out when money dries up.

Looking at those foreclosure/flipper home prices, have you felt any buyers remorse?

[raptorduck]

You are right about both the VC and IPO markets, but I have not seen much reduction in traffic. I was back just a few weeks ago and nothing has changed.

No buyer’s remorse. After all my searching and incessant analysis I think I bought the best long term value within my criteria of what I wanted in a home. I could not be more happy with the neighborhood. Instead of going in through one of the resident gates, I go in through the main gate so as to maximize my drive through it and enjoy the experience.

I am glad that foreclosure turned me down as I don’t think I would want that house even at the price it actually sold for. It sold for $1.9 million below the original asking price a few years ago. It needs A LOT of work, though it does have great potential if you have lots and lots of $$ to put into it.

As for the flipper home, personally I think it is a great purchase for that buyer even though I would not have bought it at that price, not because it was not a great deal at that price, but because it was not our first choice house at any price. It sold for $1.4 million below the original asking price! It had a number of things that prospective buyers did not like(including my wife) and that is what forced it to sell so low. But for the right buyer, it is a heck of a buy, one of the best buys in RSF these past 2 years IMHO. With some additional investment, it could be an amazing home.

[raptorduck]

You are right about both the VC and IPO markets, but I have not seen much reduction in traffic. I was back just a few weeks ago and nothing has changed.

No buyer’s remorse. After all my searching and incessant analysis I think I bought the best long term value within my criteria of what I wanted in a home. I could not be more happy with the neighborhood. Instead of going in through one of the resident gates, I go in through the main gate so as to maximize my drive through it and enjoy the experience.

I am glad that foreclosure turned me down as I don’t think I would want that house even at the price it actually sold for. It sold for $1.9 million below the original asking price a few years ago. It needs A LOT of work, though it does have great potential if you have lots and lots of $$ to put into it.

As for the flipper home, personally I think it is a great purchase for that buyer even though I would not have bought it at that price, not because it was not a great deal at that price, but because it was not our first choice house at any price. It sold for $1.4 million below the original asking price! It had a number of things that prospective buyers did not like(including my wife) and that is what forced it to sell so low. But for the right buyer, it is a heck of a buy, one of the best buys in RSF these past 2 years IMHO. With some additional investment, it could be an amazing home.

[raptorduck]

You are right about both the VC and IPO markets, but I have not seen much reduction in traffic. I was back just a few weeks ago and nothing has changed.

No buyer’s remorse. After all my searching and incessant analysis I think I bought the best long term value within my criteria of what I wanted in a home. I could not be more happy with the neighborhood. Instead of going in through one of the resident gates, I go in through the main gate so as to maximize my drive through it and enjoy the experience.

I am glad that foreclosure turned me down as I don’t think I would want that house even at the price it actually sold for. It sold for $1.9 million below the original asking price a few years ago. It needs A LOT of work, though it does have great potential if you have lots and lots of $$ to put into it.

As for the flipper home, personally I think it is a great purchase for that buyer even though I would not have bought it at that price, not because it was not a great deal at that price, but because it was not our first choice house at any price. It sold for $1.4 million below the original asking price! It had a number of things that prospective buyers did not like(including my wife) and that is what forced it to sell so low. But for the right buyer, it is a heck of a buy, one of the best buys in RSF these past 2 years IMHO. With some additional investment, it could be an amazing home.

[raptorduck]

You are right about both the VC and IPO markets, but I have not seen much reduction in traffic. I was back just a few weeks ago and nothing has changed.

No buyer’s remorse. After all my searching and incessant analysis I think I bought the best long term value within my criteria of what I wanted in a home. I could not be more happy with the neighborhood. Instead of going in through one of the resident gates, I go in through the main gate so as to maximize my drive through it and enjoy the experience.

I am glad that foreclosure turned me down as I don’t think I would want that house even at the price it actually sold for. It sold for $1.9 million below the original asking price a few years ago. It needs A LOT of work, though it does have great potential if you have lots and lots of $$ to put into it.

As for the flipper home, personally I think it is a great purchase for that buyer even though I would not have bought it at that price, not because it was not a great deal at that price, but because it was not our first choice house at any price. It sold for $1.4 million below the original asking price! It had a number of things that prospective buyers did not like(including my wife) and that is what forced it to sell so low. But for the right buyer, it is a heck of a buy, one of the best buys in RSF these past 2 years IMHO. With some additional investment, it could be an amazing home.

[raptorduck]

You are right about both the VC and IPO markets, but I have not seen much reduction in traffic. I was back just a few weeks ago and nothing has changed.

No buyer’s remorse. After all my searching and incessant analysis I think I bought the best long term value within my criteria of what I wanted in a home. I could not be more happy with the neighborhood. Instead of going in through one of the resident gates, I go in through the main gate so as to maximize my drive through it and enjoy the experience.

I am glad that foreclosure turned me down as I don’t think I would want that house even at the price it actually sold for. It sold for $1.9 million below the original asking price a few years ago. It needs A LOT of work, though it does have great potential if you have lots and lots of $$ to put into it.

As for the flipper home, personally I think it is a great purchase for that buyer even though I would not have bought it at that price, not because it was not a great deal at that price, but because it was not our first choice house at any price. It sold for $1.4 million below the original asking price! It had a number of things that prospective buyers did not like(including my wife) and that is what forced it to sell so low. But for the right buyer, it is a heck of a buy, one of the best buys in RSF these past 2 years IMHO. With some additional investment, it could be an amazing home.

[desmond]

I can’t wait for your Christmas card.

[desmond]

I can’t wait for your Christmas card.

[desmond]

I can’t wait for your Christmas card.

[desmond]

I can’t wait for your Christmas card.

[Author]

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