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  • March 15, 2009 at 9:38 PM #367305
    BKlawyer
    Participant

    I bought my house in a gated community in 2001 in La Jolla Colony at $220/sq.ft. 20+ yr. old condos in the area are now priced at $450+k/sq.ft. The median income for a single person in San Diego is $47k and crawls up from there based on family size. There is an amazing disconnect between what people want, can afford, and 2006 pricing v. what they can borrow. If you are looking to buy go back to 2000 and look at the price per sq./ft. If you pay more than that you are buying the bubble.

    March 15, 2009 at 9:45 PM #366707
    aa
    Participant

    A question for temeculaguy, where did you find information about the houses on your street? I know I can find the sales history of the houses online, but where to find the mortgage information to see if the owners are behind the payments? Thanks

    March 15, 2009 at 9:45 PM #366998
    aa
    Participant

    A question for temeculaguy, where did you find information about the houses on your street? I know I can find the sales history of the houses online, but where to find the mortgage information to see if the owners are behind the payments? Thanks

    March 15, 2009 at 9:45 PM #367161
    aa
    Participant

    A question for temeculaguy, where did you find information about the houses on your street? I know I can find the sales history of the houses online, but where to find the mortgage information to see if the owners are behind the payments? Thanks

    March 15, 2009 at 9:45 PM #367198
    aa
    Participant

    A question for temeculaguy, where did you find information about the houses on your street? I know I can find the sales history of the houses online, but where to find the mortgage information to see if the owners are behind the payments? Thanks

    March 15, 2009 at 9:45 PM #367310
    aa
    Participant

    A question for temeculaguy, where did you find information about the houses on your street? I know I can find the sales history of the houses online, but where to find the mortgage information to see if the owners are behind the payments? Thanks

    March 15, 2009 at 10:18 PM #366738
    an
    Participant

    [quote=scaredycat]maybe i should say I’d have to be an idiot to buy, not you’d have to be an idiot to buy. I just fear getting locked in and being unable to go. but, that’s unreasonable, since it’s very likely I’ll be right here for another 10-15 years. it’s just the thought of being stuck makes me feel scared. but I’ll probably just bite the bullet and buy something int he next 18 months. hopefully closer to 18 months than sooner.[/quote]
    If that’s your fear, why don’t you rent until that fear is gone? Even if you buy at the absolute bottom, you still have this problem.

    TG have basically stated everything I would say. Run your own number and decide for yourself. However, calling other people “idiots” for not agreeing with you is a little harsh. Especially when it makes sense after running the number.

    March 15, 2009 at 10:18 PM #367029
    an
    Participant

    [quote=scaredycat]maybe i should say I’d have to be an idiot to buy, not you’d have to be an idiot to buy. I just fear getting locked in and being unable to go. but, that’s unreasonable, since it’s very likely I’ll be right here for another 10-15 years. it’s just the thought of being stuck makes me feel scared. but I’ll probably just bite the bullet and buy something int he next 18 months. hopefully closer to 18 months than sooner.[/quote]
    If that’s your fear, why don’t you rent until that fear is gone? Even if you buy at the absolute bottom, you still have this problem.

    TG have basically stated everything I would say. Run your own number and decide for yourself. However, calling other people “idiots” for not agreeing with you is a little harsh. Especially when it makes sense after running the number.

    March 15, 2009 at 10:18 PM #367191
    an
    Participant

    [quote=scaredycat]maybe i should say I’d have to be an idiot to buy, not you’d have to be an idiot to buy. I just fear getting locked in and being unable to go. but, that’s unreasonable, since it’s very likely I’ll be right here for another 10-15 years. it’s just the thought of being stuck makes me feel scared. but I’ll probably just bite the bullet and buy something int he next 18 months. hopefully closer to 18 months than sooner.[/quote]
    If that’s your fear, why don’t you rent until that fear is gone? Even if you buy at the absolute bottom, you still have this problem.

    TG have basically stated everything I would say. Run your own number and decide for yourself. However, calling other people “idiots” for not agreeing with you is a little harsh. Especially when it makes sense after running the number.

    March 15, 2009 at 10:18 PM #367228
    an
    Participant

    [quote=scaredycat]maybe i should say I’d have to be an idiot to buy, not you’d have to be an idiot to buy. I just fear getting locked in and being unable to go. but, that’s unreasonable, since it’s very likely I’ll be right here for another 10-15 years. it’s just the thought of being stuck makes me feel scared. but I’ll probably just bite the bullet and buy something int he next 18 months. hopefully closer to 18 months than sooner.[/quote]
    If that’s your fear, why don’t you rent until that fear is gone? Even if you buy at the absolute bottom, you still have this problem.

    TG have basically stated everything I would say. Run your own number and decide for yourself. However, calling other people “idiots” for not agreeing with you is a little harsh. Especially when it makes sense after running the number.

    March 15, 2009 at 10:18 PM #367340
    an
    Participant

    [quote=scaredycat]maybe i should say I’d have to be an idiot to buy, not you’d have to be an idiot to buy. I just fear getting locked in and being unable to go. but, that’s unreasonable, since it’s very likely I’ll be right here for another 10-15 years. it’s just the thought of being stuck makes me feel scared. but I’ll probably just bite the bullet and buy something int he next 18 months. hopefully closer to 18 months than sooner.[/quote]
    If that’s your fear, why don’t you rent until that fear is gone? Even if you buy at the absolute bottom, you still have this problem.

    TG have basically stated everything I would say. Run your own number and decide for yourself. However, calling other people “idiots” for not agreeing with you is a little harsh. Especially when it makes sense after running the number.

    March 15, 2009 at 10:31 PM #366748
    peterb
    Participant

    Consensus on this site may seem fairly negative but the residential RE investor world is not. I follow several RE investor blogs and groups that actually meet in person on a regular basis…they’re very much in a “buy” mode. I attended a meeting last week that was standing room only for about 300 people. I was on a conference call about 3 weeks ago that had 150 people on it. The message and the thought was very much about scooping up the $150K to $250K homes as rental units. And from what I could gather, with relatively low down payment loans. The numbers dont leave a lot of room for staying cash flow positive if they have to lower rents.

    March 15, 2009 at 10:31 PM #367039
    peterb
    Participant

    Consensus on this site may seem fairly negative but the residential RE investor world is not. I follow several RE investor blogs and groups that actually meet in person on a regular basis…they’re very much in a “buy” mode. I attended a meeting last week that was standing room only for about 300 people. I was on a conference call about 3 weeks ago that had 150 people on it. The message and the thought was very much about scooping up the $150K to $250K homes as rental units. And from what I could gather, with relatively low down payment loans. The numbers dont leave a lot of room for staying cash flow positive if they have to lower rents.

    March 15, 2009 at 10:31 PM #367201
    peterb
    Participant

    Consensus on this site may seem fairly negative but the residential RE investor world is not. I follow several RE investor blogs and groups that actually meet in person on a regular basis…they’re very much in a “buy” mode. I attended a meeting last week that was standing room only for about 300 people. I was on a conference call about 3 weeks ago that had 150 people on it. The message and the thought was very much about scooping up the $150K to $250K homes as rental units. And from what I could gather, with relatively low down payment loans. The numbers dont leave a lot of room for staying cash flow positive if they have to lower rents.

    March 15, 2009 at 10:31 PM #367238
    peterb
    Participant

    Consensus on this site may seem fairly negative but the residential RE investor world is not. I follow several RE investor blogs and groups that actually meet in person on a regular basis…they’re very much in a “buy” mode. I attended a meeting last week that was standing room only for about 300 people. I was on a conference call about 3 weeks ago that had 150 people on it. The message and the thought was very much about scooping up the $150K to $250K homes as rental units. And from what I could gather, with relatively low down payment loans. The numbers dont leave a lot of room for staying cash flow positive if they have to lower rents.

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