- This topic has 82 replies, 27 voices, and was last updated 16 years, 9 months ago by
sdrealtor.
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July 25, 2007 at 5:52 PM #67740July 25, 2007 at 5:52 PM #67807
Reality
ParticipantSubmitted by DaCounselor on July 25, 2007 – 2:12pm.
Good thread. Just a couple of random thoughts regarding afforability:
I often see posts on this site regarding affordability issues that seem to focus (implicitly) only on folks who are first-time buyers with no $$ down. I think it’s important to take into account the number of move-up buyers with alot of equity to roll into the new purchase when considering affordability. I think SDR or sdr posted some North County stats many months ago that highlighted this fact. I’m not saying that there aren’t affordability issues, but I do think a fuller perspective is in order on this topic.
First-time buyers are what drive the whole thing. Where do you think move-up buyers get the equity? From some chump, I mean first-time buyer, buying their house.
July 25, 2007 at 6:15 PM #67743Fearful
ParticipantWaitingToExhale, the range in his listing was 640K to something. Not quite sure why they turned down the offer.
The ranges don’t mean jack.
July 25, 2007 at 6:15 PM #67809ParticipantWaitingToExhale, the range in his listing was 640K to something. Not quite sure why they turned down the offer.
The ranges don’t mean jack.
July 25, 2007 at 6:29 PM #67744ParticipantPrices in SF Bay Area
I just moved here from San Jose. Sold my house there. Mira Mesa type area, maybe even a little older (1949), extensively and questionably remodeled, 1900 sf but on a 9k sf lot, quiet street but a block away from a major thoroughfare, awful school district … $917K. I would definitely say that bay area prices are 50% to 100% higher than here.
One value engine in the bay area, not really present here, is non salary earnings such as stock options. Yet that valley has gone through some pretty rough housing shocks.
July 25, 2007 at 6:29 PM #67811ParticipantPrices in SF Bay Area
I just moved here from San Jose. Sold my house there. Mira Mesa type area, maybe even a little older (1949), extensively and questionably remodeled, 1900 sf but on a 9k sf lot, quiet street but a block away from a major thoroughfare, awful school district … $917K. I would definitely say that bay area prices are 50% to 100% higher than here.
One value engine in the bay area, not really present here, is non salary earnings such as stock options. Yet that valley has gone through some pretty rough housing shocks.
July 25, 2007 at 6:34 PM #67748sdrealtor
Participant“First-time buyers are what drive the whole thing. Where do you think move-up buyers get the equity? From some chump, I mean first-time buyer, buying their house.”
Dont forget that it works both ways. there are move down buyers also for many reasons including but not limited to divorces, job changes, semi or full retirement etc. In fact many of the clients I am working with now are in exactly that position.
July 25, 2007 at 6:34 PM #67815Participant“First-time buyers are what drive the whole thing. Where do you think move-up buyers get the equity? From some chump, I mean first-time buyer, buying their house.”
Dont forget that it works both ways. there are move down buyers also for many reasons including but not limited to divorces, job changes, semi or full retirement etc. In fact many of the clients I am working with now are in exactly that position.
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