When will be a good time to buy in san diego?

[NotCranky]

You are right these decisions are tough and I am not making light of that. Definitely go at your own pace.You have a lot of tools. If you have owned in SOCAL before and lived through a real estate cycle you have a lot of real life experience. Make sure one way or another that the numbers make sense in the current time and that you have a plan b. At the prices you are talking about, like the 2001 price a plan b should be easy to implement. Should you need it and if you drive hard bargain and don’t stretch too much you probably never will.

Please don’t feel like I am underestimating you but be careful with the rehab stuff. I suggest adding 50% to what you think it is going to cost and that you know where that is going to come from and if you are still comfortable, with the carrying costs,if you need it. Hopefully you won’t but going over budget, be it because of delays or scope growth, happens all the time.

[sdbubble]

I bet if you simply wait to buy after the first up year, you will be close enough to the bottom to be happy.

What are the chances of a 1 year bear rally in real estate and then another plummet? My only concern.

Wait until we burn through the massive inventory and foreclosure rates start heading back to the norm, and the first year we go positive, you buy.

No way were gonna have a crazy 20-50% rebound in one year after a crash like this. The market psychology will be way too damaged for that to happen again for a very long time.

Thats what im thinking now…

[sdbubble]

I bet if you simply wait to buy after the first up year, you will be close enough to the bottom to be happy.

What are the chances of a 1 year bear rally in real estate and then another plummet? My only concern.

Wait until we burn through the massive inventory and foreclosure rates start heading back to the norm, and the first year we go positive, you buy.

No way were gonna have a crazy 20-50% rebound in one year after a crash like this. The market psychology will be way too damaged for that to happen again for a very long time.

Thats what im thinking now…

[sdbubble]

I bet if you simply wait to buy after the first up year, you will be close enough to the bottom to be happy.

What are the chances of a 1 year bear rally in real estate and then another plummet? My only concern.

Wait until we burn through the massive inventory and foreclosure rates start heading back to the norm, and the first year we go positive, you buy.

No way were gonna have a crazy 20-50% rebound in one year after a crash like this. The market psychology will be way too damaged for that to happen again for a very long time.

Thats what im thinking now…

[sdbubble]

I bet if you simply wait to buy after the first up year, you will be close enough to the bottom to be happy.

What are the chances of a 1 year bear rally in real estate and then another plummet? My only concern.

Wait until we burn through the massive inventory and foreclosure rates start heading back to the norm, and the first year we go positive, you buy.

No way were gonna have a crazy 20-50% rebound in one year after a crash like this. The market psychology will be way too damaged for that to happen again for a very long time.

Thats what im thinking now…

[sdbubble]

I bet if you simply wait to buy after the first up year, you will be close enough to the bottom to be happy.

What are the chances of a 1 year bear rally in real estate and then another plummet? My only concern.

Wait until we burn through the massive inventory and foreclosure rates start heading back to the norm, and the first year we go positive, you buy.

No way were gonna have a crazy 20-50% rebound in one year after a crash like this. The market psychology will be way too damaged for that to happen again for a very long time.

Thats what im thinking now…

[jpinpb]

Thank you everyone for feedback. I want a place by the coast, not a condo, b/c eventually I’m looking at the boomer theory and mom will be staying w/me. Don’t want a condo. Prices along the coast are pretty sticky so if I find something that might work, though I’m not in a rush, I’m very tempted. This fixer will work. Not a dream place. A project. But at least it’s where I want to be. If I’m looking at 2001 prices, then I think I’m ok, hopefully.

[jpinpb]

Thank you everyone for feedback. I want a place by the coast, not a condo, b/c eventually I’m looking at the boomer theory and mom will be staying w/me. Don’t want a condo. Prices along the coast are pretty sticky so if I find something that might work, though I’m not in a rush, I’m very tempted. This fixer will work. Not a dream place. A project. But at least it’s where I want to be. If I’m looking at 2001 prices, then I think I’m ok, hopefully.

[jpinpb]

Thank you everyone for feedback. I want a place by the coast, not a condo, b/c eventually I’m looking at the boomer theory and mom will be staying w/me. Don’t want a condo. Prices along the coast are pretty sticky so if I find something that might work, though I’m not in a rush, I’m very tempted. This fixer will work. Not a dream place. A project. But at least it’s where I want to be. If I’m looking at 2001 prices, then I think I’m ok, hopefully.

[jpinpb]

Thank you everyone for feedback. I want a place by the coast, not a condo, b/c eventually I’m looking at the boomer theory and mom will be staying w/me. Don’t want a condo. Prices along the coast are pretty sticky so if I find something that might work, though I’m not in a rush, I’m very tempted. This fixer will work. Not a dream place. A project. But at least it’s where I want to be. If I’m looking at 2001 prices, then I think I’m ok, hopefully.

[jpinpb]

Thank you everyone for feedback. I want a place by the coast, not a condo, b/c eventually I’m looking at the boomer theory and mom will be staying w/me. Don’t want a condo. Prices along the coast are pretty sticky so if I find something that might work, though I’m not in a rush, I’m very tempted. This fixer will work. Not a dream place. A project. But at least it’s where I want to be. If I’m looking at 2001 prices, then I think I’m ok, hopefully.

[an]

I’d love to have most places at 2001 price. That would definitely greatly reduce the downside risk. A 4/2 1500 sq-ft in MM in 2002 is around mid 200s while the same place in CV goes for around low 400s. At that price, if rates stay the same, then you’re talking about being cash flow positive a couple hundred bucks a month with 20% down and 15 year fixed loan.

[an]

I’d love to have most places at 2001 price. That would definitely greatly reduce the downside risk. A 4/2 1500 sq-ft in MM in 2002 is around mid 200s while the same place in CV goes for around low 400s. At that price, if rates stay the same, then you’re talking about being cash flow positive a couple hundred bucks a month with 20% down and 15 year fixed loan.

[an]

I’d love to have most places at 2001 price. That would definitely greatly reduce the downside risk. A 4/2 1500 sq-ft in MM in 2002 is around mid 200s while the same place in CV goes for around low 400s. At that price, if rates stay the same, then you’re talking about being cash flow positive a couple hundred bucks a month with 20% down and 15 year fixed loan.

[an]

I’d love to have most places at 2001 price. That would definitely greatly reduce the downside risk. A 4/2 1500 sq-ft in MM in 2002 is around mid 200s while the same place in CV goes for around low 400s. At that price, if rates stay the same, then you’re talking about being cash flow positive a couple hundred bucks a month with 20% down and 15 year fixed loan.

[Author]

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