“The Subprime Blame Game: Where Were the Realtors?”

[(former)FormerSanDiegan]

Many in Mira Mesa own firearms. I think it is required to have local ordnance.

[(former)FormerSanDiegan]

So, from a Canadian perspective, San Diego prices have already declined by over 45% ! That’s Looney.

[(former)FormerSanDiegan]

So, from a Canadian perspective, San Diego prices have already declined by over 45% ! That’s Looney.

[SD Realtor]

Abbey –

San Diego County is really diverse. My advice would be when you do come down here to rent for a few months or maybe a year. Your locale will depend on where you work, what sort of commute you want to tolerate, and most important the community you enjoy the most. (Of course school and other factors if you have kids) Obviously it doesn’t hurt to look on line and stuff. However I would not make any hard and fast opinions on your future neighborhood until I really experienced them first hand.

SD Realtor

[SD Realtor]

Abbey –

San Diego County is really diverse. My advice would be when you do come down here to rent for a few months or maybe a year. Your locale will depend on where you work, what sort of commute you want to tolerate, and most important the community you enjoy the most. (Of course school and other factors if you have kids) Obviously it doesn’t hurt to look on line and stuff. However I would not make any hard and fast opinions on your future neighborhood until I really experienced them first hand.

SD Realtor

[NotCranky]

That is good advice SDR but how long is the exchange rate situation going to be favorable? She is not thinking of moving here for at least a year(I believe). After renting for a year an erosion of that exchange factor could come into play. It would be great if it stayed in her favor until the next trough but who knows? That is why I suggested she start a thread to discuss it. FSD Maybe you have some ideas? I Think it would be really interesting to see some piggs bat it around.

http://www.fxcmtr.com/news-and-charts/currency-forecast/forecast-usd-cad.html

[NotCranky]

That is good advice SDR but how long is the exchange rate situation going to be favorable? She is not thinking of moving here for at least a year(I believe). After renting for a year an erosion of that exchange factor could come into play. It would be great if it stayed in her favor until the next trough but who knows? That is why I suggested she start a thread to discuss it. FSD Maybe you have some ideas? I Think it would be really interesting to see some piggs bat it around.

http://www.fxcmtr.com/news-and-charts/currency-forecast/forecast-usd-cad.html

[SD Realtor]

Rus yours is a good point. However you are kind of mixing and matching yeah? Your point being purchase a home while you can take advantage of the exchange rate.

I think that these are independent subjects. Making money against the exchange rate really (IMO) has nothing to do with purchasing a home correct?

Example – What if I had a significant equity investment that was scorching hot right now? Do I sell it and pocket the cash or not? Now what I do with the cash is a seperate question… (should I buy a house or not?)

So Abbey is sitting on a ton of loonies right? When she turns them to dollars is independent of buying a home. Basically she should wait until the loonie peaks against the dollar and then pull the trigger on the exchange.

That event has no bearing on when she should buy a home in my book.

SD Realtor

[SD Realtor]

Rus yours is a good point. However you are kind of mixing and matching yeah? Your point being purchase a home while you can take advantage of the exchange rate.

I think that these are independent subjects. Making money against the exchange rate really (IMO) has nothing to do with purchasing a home correct?

Example – What if I had a significant equity investment that was scorching hot right now? Do I sell it and pocket the cash or not? Now what I do with the cash is a seperate question… (should I buy a house or not?)

So Abbey is sitting on a ton of loonies right? When she turns them to dollars is independent of buying a home. Basically she should wait until the loonie peaks against the dollar and then pull the trigger on the exchange.

That event has no bearing on when she should buy a home in my book.

SD Realtor

[NotCranky]

DUH! That goes to show you how often I think of foriegn currencies. School is in. Thanks

EDIT: It is a beautiful San Diego day and we have the Santa Anas coming on. Fall is one of my four favorite seasons in SD. If I were in Toronto about now and had a looney to my name, I’d be on my way here to rent, sleep in Balboa Park ,whatever.

[NotCranky]

DUH! That goes to show you how often I think of foriegn currencies. School is in. Thanks

EDIT: It is a beautiful San Diego day and we have the Santa Anas coming on. Fall is one of my four favorite seasons in SD. If I were in Toronto about now and had a looney to my name, I’d be on my way here to rent, sleep in Balboa Park ,whatever.

[(former)FormerSanDiegan]

We have seen a huge move in the strength of the Canadian dollar, coupled with a decline of 10-15% in dollar denominated San Diego RE. If I had some Canadian Dollars laying around I would be tempted to start accumulating US dollar-denominated assets (e.g. cash flow Real estate, Dividend-paying large company stock). Just maybe not San Diego RE.

I think the depreciation cycle in SD real estate has another 10-20% downside. I also think that US dollar has more downside, but not too much more against the Canadian Looney. Hard to imagine that one of our largest trading partners would not feel the effects of a US slow down. However, I don;t see a reversal of the dollar versus the Looney either.

Buying property in an unfamiliar area will likely be more expensive than saving 10-20% by timing. I would recommend moving here first and renting, at least for 6 months before purchasing.

The risk in making a mistake through naivete is much higher than the risk in seeing a reversal in the dollar/Looney valuation or an increase in SD prices.

[(former)FormerSanDiegan]

We have seen a huge move in the strength of the Canadian dollar, coupled with a decline of 10-15% in dollar denominated San Diego RE. If I had some Canadian Dollars laying around I would be tempted to start accumulating US dollar-denominated assets (e.g. cash flow Real estate, Dividend-paying large company stock). Just maybe not San Diego RE.

I think the depreciation cycle in SD real estate has another 10-20% downside. I also think that US dollar has more downside, but not too much more against the Canadian Looney. Hard to imagine that one of our largest trading partners would not feel the effects of a US slow down. However, I don;t see a reversal of the dollar versus the Looney either.

Buying property in an unfamiliar area will likely be more expensive than saving 10-20% by timing. I would recommend moving here first and renting, at least for 6 months before purchasing.

The risk in making a mistake through naivete is much higher than the risk in seeing a reversal in the dollar/Looney valuation or an increase in SD prices.

[SD Realtor]

Darn right about a beautiful day… it is smoking outside… really nice.

Rustico after your post and then my response I did rethink it and where your point does make sense could be in the way that the purchase is made… that is, one advantage they have in the current situation is that they will qualify for more because thier salary and assets are indeed stronger based on the imbalance right now… When we get into the financing side of the equation I back off… In that sense it does make one think…So no, not really a duh by you at all… The waters do get more complex when you bring the financing into the issue and the strength they have gets them the better rate, which saves them moola in the long run… However if we are talking pure cash then it is a clear cut answer…

SD Realtor

[SD Realtor]

Darn right about a beautiful day… it is smoking outside… really nice.

Rustico after your post and then my response I did rethink it and where your point does make sense could be in the way that the purchase is made… that is, one advantage they have in the current situation is that they will qualify for more because thier salary and assets are indeed stronger based on the imbalance right now… When we get into the financing side of the equation I back off… In that sense it does make one think…So no, not really a duh by you at all… The waters do get more complex when you bring the financing into the issue and the strength they have gets them the better rate, which saves them moola in the long run… However if we are talking pure cash then it is a clear cut answer…

SD Realtor

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