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February 15, 2009 at 4:54 PM #347379February 15, 2009 at 5:40 PM #346842
peterb
ParticipantProtect your cash reserves. It’s all about cash flow once your asset starts to depreciate. If your payment is equal to or less than renting, then keep with it. You gotta live somewhere. Otherwise, live in the house and dont pay the mortgage. The holders of the debt are so afraid of marking to market right now that they’re avoiding foreclosures. So you have that on your side. It’s pretty simple, really. Seems like a few people have kinda said this already.
February 15, 2009 at 5:40 PM #347163ParticipantProtect your cash reserves. It’s all about cash flow once your asset starts to depreciate. If your payment is equal to or less than renting, then keep with it. You gotta live somewhere. Otherwise, live in the house and dont pay the mortgage. The holders of the debt are so afraid of marking to market right now that they’re avoiding foreclosures. So you have that on your side. It’s pretty simple, really. Seems like a few people have kinda said this already.
February 15, 2009 at 5:40 PM #347276ParticipantProtect your cash reserves. It’s all about cash flow once your asset starts to depreciate. If your payment is equal to or less than renting, then keep with it. You gotta live somewhere. Otherwise, live in the house and dont pay the mortgage. The holders of the debt are so afraid of marking to market right now that they’re avoiding foreclosures. So you have that on your side. It’s pretty simple, really. Seems like a few people have kinda said this already.
February 15, 2009 at 5:40 PM #347310ParticipantProtect your cash reserves. It’s all about cash flow once your asset starts to depreciate. If your payment is equal to or less than renting, then keep with it. You gotta live somewhere. Otherwise, live in the house and dont pay the mortgage. The holders of the debt are so afraid of marking to market right now that they’re avoiding foreclosures. So you have that on your side. It’s pretty simple, really. Seems like a few people have kinda said this already.
February 15, 2009 at 5:40 PM #347409ParticipantProtect your cash reserves. It’s all about cash flow once your asset starts to depreciate. If your payment is equal to or less than renting, then keep with it. You gotta live somewhere. Otherwise, live in the house and dont pay the mortgage. The holders of the debt are so afraid of marking to market right now that they’re avoiding foreclosures. So you have that on your side. It’s pretty simple, really. Seems like a few people have kinda said this already.
February 15, 2009 at 6:39 PM #346857Rt.66
ParticipantBefore it’s all over, I
Submitted by paramount on February 14, 2009 – 12:27am.
Before it’s all over, I believe my house will drop to about 120k.”Why do you pick that number? If your house is large (2500 sq’ and up) and in the best areas of Trafficula, then maybe.
The Inland Empire has like the third worst unemployment in the country, bad traffic, bad weather and ugly surroundings. What makes it different than Az communities that are far flung from the job centers? AZ has good weather, lower taxes, less regulation, cheaper cost of living, tons more open space for recreation and the AZ desert is beautiful.
Az towns like Maricopa outside Phoenix and Casa Grande outside Tucson are awesome new master planned communities where you can buy a 2 year old REO for $50k.
Jobs will be the determining factor going forward for your Temecula value. Since CA is not business friendly, tax heavy and expensive, the FIRE economy that fueled the senseless run-up in fantasy prices will not come back. There is simply no industry to replace the phony FIRE jobs Temecula and IE were built on.
People who bought from 2000 in the bubble areas ALL chatted about the appreciation they would enjoy in coming years. Now they ALL chat about how its everyone elses fault that their gamble went bad. Look to Japan for an answer on your mortgage and house value. The Gov. will do what they can to hide reality and you will see your house fall in value for 15 years.
Japan is the succesful model for dealing with the kind of speculator fueled madness this country has seen. Our Gov. is taking the exact same steps as Japan to deal with this mess. It will just take a while for everyone in the bubble states to come to grips with the reality that houses are just another depreciating asset, in a sane world.
February 15, 2009 at 6:39 PM #347178ParticipantBefore it’s all over, I
Submitted by paramount on February 14, 2009 – 12:27am.
Before it’s all over, I believe my house will drop to about 120k.”Why do you pick that number? If your house is large (2500 sq’ and up) and in the best areas of Trafficula, then maybe.
The Inland Empire has like the third worst unemployment in the country, bad traffic, bad weather and ugly surroundings. What makes it different than Az communities that are far flung from the job centers? AZ has good weather, lower taxes, less regulation, cheaper cost of living, tons more open space for recreation and the AZ desert is beautiful.
Az towns like Maricopa outside Phoenix and Casa Grande outside Tucson are awesome new master planned communities where you can buy a 2 year old REO for $50k.
Jobs will be the determining factor going forward for your Temecula value. Since CA is not business friendly, tax heavy and expensive, the FIRE economy that fueled the senseless run-up in fantasy prices will not come back. There is simply no industry to replace the phony FIRE jobs Temecula and IE were built on.
People who bought from 2000 in the bubble areas ALL chatted about the appreciation they would enjoy in coming years. Now they ALL chat about how its everyone elses fault that their gamble went bad. Look to Japan for an answer on your mortgage and house value. The Gov. will do what they can to hide reality and you will see your house fall in value for 15 years.
Japan is the succesful model for dealing with the kind of speculator fueled madness this country has seen. Our Gov. is taking the exact same steps as Japan to deal with this mess. It will just take a while for everyone in the bubble states to come to grips with the reality that houses are just another depreciating asset, in a sane world.
February 15, 2009 at 6:39 PM #347291ParticipantBefore it’s all over, I
Submitted by paramount on February 14, 2009 – 12:27am.
Before it’s all over, I believe my house will drop to about 120k.”Why do you pick that number? If your house is large (2500 sq’ and up) and in the best areas of Trafficula, then maybe.
The Inland Empire has like the third worst unemployment in the country, bad traffic, bad weather and ugly surroundings. What makes it different than Az communities that are far flung from the job centers? AZ has good weather, lower taxes, less regulation, cheaper cost of living, tons more open space for recreation and the AZ desert is beautiful.
Az towns like Maricopa outside Phoenix and Casa Grande outside Tucson are awesome new master planned communities where you can buy a 2 year old REO for $50k.
Jobs will be the determining factor going forward for your Temecula value. Since CA is not business friendly, tax heavy and expensive, the FIRE economy that fueled the senseless run-up in fantasy prices will not come back. There is simply no industry to replace the phony FIRE jobs Temecula and IE were built on.
People who bought from 2000 in the bubble areas ALL chatted about the appreciation they would enjoy in coming years. Now they ALL chat about how its everyone elses fault that their gamble went bad. Look to Japan for an answer on your mortgage and house value. The Gov. will do what they can to hide reality and you will see your house fall in value for 15 years.
Japan is the succesful model for dealing with the kind of speculator fueled madness this country has seen. Our Gov. is taking the exact same steps as Japan to deal with this mess. It will just take a while for everyone in the bubble states to come to grips with the reality that houses are just another depreciating asset, in a sane world.
February 15, 2009 at 6:39 PM #347325ParticipantBefore it’s all over, I
Submitted by paramount on February 14, 2009 – 12:27am.
Before it’s all over, I believe my house will drop to about 120k.”Why do you pick that number? If your house is large (2500 sq’ and up) and in the best areas of Trafficula, then maybe.
The Inland Empire has like the third worst unemployment in the country, bad traffic, bad weather and ugly surroundings. What makes it different than Az communities that are far flung from the job centers? AZ has good weather, lower taxes, less regulation, cheaper cost of living, tons more open space for recreation and the AZ desert is beautiful.
Az towns like Maricopa outside Phoenix and Casa Grande outside Tucson are awesome new master planned communities where you can buy a 2 year old REO for $50k.
Jobs will be the determining factor going forward for your Temecula value. Since CA is not business friendly, tax heavy and expensive, the FIRE economy that fueled the senseless run-up in fantasy prices will not come back. There is simply no industry to replace the phony FIRE jobs Temecula and IE were built on.
People who bought from 2000 in the bubble areas ALL chatted about the appreciation they would enjoy in coming years. Now they ALL chat about how its everyone elses fault that their gamble went bad. Look to Japan for an answer on your mortgage and house value. The Gov. will do what they can to hide reality and you will see your house fall in value for 15 years.
Japan is the succesful model for dealing with the kind of speculator fueled madness this country has seen. Our Gov. is taking the exact same steps as Japan to deal with this mess. It will just take a while for everyone in the bubble states to come to grips with the reality that houses are just another depreciating asset, in a sane world.
February 15, 2009 at 6:39 PM #347424ParticipantBefore it’s all over, I
Submitted by paramount on February 14, 2009 – 12:27am.
Before it’s all over, I believe my house will drop to about 120k.”Why do you pick that number? If your house is large (2500 sq’ and up) and in the best areas of Trafficula, then maybe.
The Inland Empire has like the third worst unemployment in the country, bad traffic, bad weather and ugly surroundings. What makes it different than Az communities that are far flung from the job centers? AZ has good weather, lower taxes, less regulation, cheaper cost of living, tons more open space for recreation and the AZ desert is beautiful.
Az towns like Maricopa outside Phoenix and Casa Grande outside Tucson are awesome new master planned communities where you can buy a 2 year old REO for $50k.
Jobs will be the determining factor going forward for your Temecula value. Since CA is not business friendly, tax heavy and expensive, the FIRE economy that fueled the senseless run-up in fantasy prices will not come back. There is simply no industry to replace the phony FIRE jobs Temecula and IE were built on.
People who bought from 2000 in the bubble areas ALL chatted about the appreciation they would enjoy in coming years. Now they ALL chat about how its everyone elses fault that their gamble went bad. Look to Japan for an answer on your mortgage and house value. The Gov. will do what they can to hide reality and you will see your house fall in value for 15 years.
Japan is the succesful model for dealing with the kind of speculator fueled madness this country has seen. Our Gov. is taking the exact same steps as Japan to deal with this mess. It will just take a while for everyone in the bubble states to come to grips with the reality that houses are just another depreciating asset, in a sane world.
February 15, 2009 at 8:29 PM #346927temeculaguy
ParticipantRussell, what looks like optimism is merely observations from my life, your results may vary. I’ve spent probably more than half of my scheduled time on the planet and what I’ve learned makes me understand that balance will find me, I don;t need to seek it. When things look like they are great and will only get better, they won’t, conversely when things look like they can only get worse, they wont. Pendulums swing and they always swing back, if there are too many rabbits, soon there will be coyotes, balance is the most reliable thing in our world. The study of nature and business has amazing similarities. This country has all the needed elements, it just needs to organize them. It is also a healthy thing to go through something like this current crisis every decade or two.
Ca renter-micro markets are different, peaks are different in those markets. My observations in my market put 1991 as a peak, about 1995 as the bottom and 1998 as the end of the flat part, 1999-2003 was the upswing and 2003-2006 or 2007 as the artificial phase. You can plus or minus a year or two for different markets for different reasons. The exhurbs tend to rise later and fall sooner, so you will have to research your own micro market to get your numbers and target prices.
paramount, that place is overpriced but it isn’t a short or a repo, it won’t sell until the competition changes. It’s still nuts up here, I was working on the yard today and a repo had an open house down the street. I could have a few bucks selling parking spaces, I was a little disapointed, I had hoped all the cars meant perhaps a brothel had opened.
Peter, we agree that if your mort is the same as rent, stay put, but also suggest people stay put who can afford it. I would not walk from a place that may not have turned out to be the investment I thought it was as long as I had no difficulty making the payment. I bought a high horse because I like sitting on it, if you can, honor thy debts. If you lose your job or cannot make your payment, that is one thing, but to stop paying when you have the ability to, as a strategy, bad karma.
February 15, 2009 at 8:29 PM #347248ParticipantRussell, what looks like optimism is merely observations from my life, your results may vary. I’ve spent probably more than half of my scheduled time on the planet and what I’ve learned makes me understand that balance will find me, I don;t need to seek it. When things look like they are great and will only get better, they won’t, conversely when things look like they can only get worse, they wont. Pendulums swing and they always swing back, if there are too many rabbits, soon there will be coyotes, balance is the most reliable thing in our world. The study of nature and business has amazing similarities. This country has all the needed elements, it just needs to organize them. It is also a healthy thing to go through something like this current crisis every decade or two.
Ca renter-micro markets are different, peaks are different in those markets. My observations in my market put 1991 as a peak, about 1995 as the bottom and 1998 as the end of the flat part, 1999-2003 was the upswing and 2003-2006 or 2007 as the artificial phase. You can plus or minus a year or two for different markets for different reasons. The exhurbs tend to rise later and fall sooner, so you will have to research your own micro market to get your numbers and target prices.
paramount, that place is overpriced but it isn’t a short or a repo, it won’t sell until the competition changes. It’s still nuts up here, I was working on the yard today and a repo had an open house down the street. I could have a few bucks selling parking spaces, I was a little disapointed, I had hoped all the cars meant perhaps a brothel had opened.
Peter, we agree that if your mort is the same as rent, stay put, but also suggest people stay put who can afford it. I would not walk from a place that may not have turned out to be the investment I thought it was as long as I had no difficulty making the payment. I bought a high horse because I like sitting on it, if you can, honor thy debts. If you lose your job or cannot make your payment, that is one thing, but to stop paying when you have the ability to, as a strategy, bad karma.
February 15, 2009 at 8:29 PM #347362ParticipantRussell, what looks like optimism is merely observations from my life, your results may vary. I’ve spent probably more than half of my scheduled time on the planet and what I’ve learned makes me understand that balance will find me, I don;t need to seek it. When things look like they are great and will only get better, they won’t, conversely when things look like they can only get worse, they wont. Pendulums swing and they always swing back, if there are too many rabbits, soon there will be coyotes, balance is the most reliable thing in our world. The study of nature and business has amazing similarities. This country has all the needed elements, it just needs to organize them. It is also a healthy thing to go through something like this current crisis every decade or two.
Ca renter-micro markets are different, peaks are different in those markets. My observations in my market put 1991 as a peak, about 1995 as the bottom and 1998 as the end of the flat part, 1999-2003 was the upswing and 2003-2006 or 2007 as the artificial phase. You can plus or minus a year or two for different markets for different reasons. The exhurbs tend to rise later and fall sooner, so you will have to research your own micro market to get your numbers and target prices.
paramount, that place is overpriced but it isn’t a short or a repo, it won’t sell until the competition changes. It’s still nuts up here, I was working on the yard today and a repo had an open house down the street. I could have a few bucks selling parking spaces, I was a little disapointed, I had hoped all the cars meant perhaps a brothel had opened.
Peter, we agree that if your mort is the same as rent, stay put, but also suggest people stay put who can afford it. I would not walk from a place that may not have turned out to be the investment I thought it was as long as I had no difficulty making the payment. I bought a high horse because I like sitting on it, if you can, honor thy debts. If you lose your job or cannot make your payment, that is one thing, but to stop paying when you have the ability to, as a strategy, bad karma.
February 15, 2009 at 8:29 PM #347396ParticipantRussell, what looks like optimism is merely observations from my life, your results may vary. I’ve spent probably more than half of my scheduled time on the planet and what I’ve learned makes me understand that balance will find me, I don;t need to seek it. When things look like they are great and will only get better, they won’t, conversely when things look like they can only get worse, they wont. Pendulums swing and they always swing back, if there are too many rabbits, soon there will be coyotes, balance is the most reliable thing in our world. The study of nature and business has amazing similarities. This country has all the needed elements, it just needs to organize them. It is also a healthy thing to go through something like this current crisis every decade or two.
Ca renter-micro markets are different, peaks are different in those markets. My observations in my market put 1991 as a peak, about 1995 as the bottom and 1998 as the end of the flat part, 1999-2003 was the upswing and 2003-2006 or 2007 as the artificial phase. You can plus or minus a year or two for different markets for different reasons. The exhurbs tend to rise later and fall sooner, so you will have to research your own micro market to get your numbers and target prices.
paramount, that place is overpriced but it isn’t a short or a repo, it won’t sell until the competition changes. It’s still nuts up here, I was working on the yard today and a repo had an open house down the street. I could have a few bucks selling parking spaces, I was a little disapointed, I had hoped all the cars meant perhaps a brothel had opened.
Peter, we agree that if your mort is the same as rent, stay put, but also suggest people stay put who can afford it. I would not walk from a place that may not have turned out to be the investment I thought it was as long as I had no difficulty making the payment. I bought a high horse because I like sitting on it, if you can, honor thy debts. If you lose your job or cannot make your payment, that is one thing, but to stop paying when you have the ability to, as a strategy, bad karma.
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